Dear People,
I have posted very little lately and not really posted replies to anyone in particular, even though it may be helpful.
There are two reasons for this…
I am busy trading myself since my funds are slowly being depleted due to concentrating on research and posting.
I am carefully researching the Profit Walk (profit grabber) method.
I can safely say at this point that entering and running with the profit walk is extremely difficult, as [B]Merchantprince [/B]has posted.
The initial signal candle is mostly a very long candle with the remainder setting you up for a trading loss. :eek:
This means that [U]the real profit walk[/U] is contained in that very long candle - and this translates to a [U]lower timeframe[/U] where this long candle is spread out into [U]several candles[/U], the first of which is your signal candle.
Now which timeframe are we to choose then?
The 15 min?
The 5 min?
Or maybe the 1 min?
The lower timeframes show a lead up or [U]pre-expansion[/U] before the major expansion.
This pre-expansion is filled with retraces and it quite useless for trading.
This, of course, brings the question - how can we know if the pre-expansion is not the real expansion?
hi tymen
the other day, when u fumed at me in the chat room for no obvious reason, u asked me ‘’‘how much do u know about trading?’’’ //while probably grinding yr teeth, unfortunately//
Sorry to say, but these cons that u just posted took me shorter to realize then it took to u.
regards
Matey, for a total newbie, I can’t but help see an overwhelming arrogance in everything you say.
[U]The reason I was upset[/U] was because you were telling everyone how to trade as though you were the expert of the system.
That would have been fine if you were an experienced trader and has spent a lot of time trading and testing the DNA method.
However, you had barely registered on this Babypips forum (to date you have only 5 posts), when you were already telling me how to use the MACD. (not used in this method).
I would humbly suggest that you learn to trade for a least 5 years and then come back and teach [B]Graviton [/B]and me how to trade!!
There are some people who are on this forum who I do not want on my thread at all.
They are trolls, spammers and [U]know it alls[/U].
Unfortunately, my personal feeling is that you are one of the third category - no offense intended, but every so often I find myself completely incompatible with someone.
[B]Therefore, I am asking you to no longer post on my thread.[/B]
If you do, I am on good terms with the Admin, and I shall ask them to delete your posts.
I honesty and truely submit that you would be much happier posting on someone else’s thread and partaking of their work.
it seems to me that u r the arrogant one here
u can call matey yrself and I ll b fine with that
’’’'The reason I was upset was because you were telling everyone how to trade as though you were the expert of the system.
That would have been fine if you were an experienced trader and has spent a lot of time trading and testing the DNA method.
However, you had barely registered on this Babypips forum (to date you have only 5 posts), when you were already telling me how to use the MACD. (not used in this method).’’’
Sounds to me like u have mistaken me with someone else as I had done none of this
Everyone on here (with the exception of ^^^^^^one^^^^^^) appreciates all your hard work and dedication Tymen. No doubt you will achieve the impossible!!
or… how about using the bb walk stop loss system as indicator to stay in the trade when we have entered from a squeeze…
i have been getting fairly good results on the 1 hour timeframe… im in profit anyway…
as a newb im amazed that some people are questioning your motives… anyone who has digested the whole thread will know that this is a system that is constantly being adjusted and revised… but from what i can see the basis of the system can be traded successfully…
Tymen, I think you do not have to justify yourself because you post less, I think, and I am certainly not alone, that you should not only make a few poses, but also take care of your own business.
We all know here that you work very hard to evolve and grow the method which you have provided.
So take your time, no hurry, patience, patience, always patience, which is the mother of wisdom.
As long as those who are not satisfied, and have a knowledge and command of all, I wonder what they are doing on this thread, where we are all attentive students, and applied, which try to raise our level and our performance, even the most experienced of us are smart enough not to think about having one is infallible, but know how to listen and give their opinion in a constructive way to advance the wire and all participants wishing to progress.
So Tymen, continuing to amaze us with your incredible ability to challenge yourself, for we offer the best of your experience because you give us the example by agreeing to challenge yourself to us all.
I’m amazed that you have created an indicator that you can not stand the indicators, and why did you set this flag, simply in order to help us, and our task easier.
So I simply say congratulations and thank you, take the time to live, and think of you in your business, and also … Sweetie:p
We are all anxious to discover your new developments, but we’re like children wanting everything right away, but not children, we have to wait a bit, and the discovery will be even better.
Tymen thank you, good luck, we are all with you, but you already know.
Regards, Didier.
I agree that looking to lower TFs when a breakout is imminent is the way I would handle it. I am growing accustomed to the idea of paring down some of my many charts and just focusing on maybe five currency pairs and having two full-sized charts open for each: one hourly and one 5m. I would switch the hourly to the 4H for drawing TLs, SR lines and such and look to the 5m for BB breakouts in the direction I’m charting on the higher TF.
I’m just wondering how everyone is liking the BB Profit Walk trailing SL indicator. It was released without the usual fanfare (I know Tymen is trying to take a well-deserved break) and I’m wondering how it’s been received so far. I like it but am holding off on having it coded to Marketscope until I know we have the “final version” on MT4.
Yes, very difficult work I’m sure. No rush though Tymen. You have given us enough information to keep us busy for months. Take your time and enjoy the journey We all have plenty to keep us busy for a while. Personally, I like these little breaks. They give me a chance to catch up on things.
As far as trading the first spike of a breakout goes, I personally don’t trade it because I have a rule, “Don’t Chase”. Trading that first spike is the same as chasing a price move, so my personal trading rules prohibit it. I will wait until the full body of a candle is outside where the old outer BB was during the squeeze, before the breakout. I will sometimes go to a lower TF to trade this, but I’ll only go so far, down to the 30M. Below that, I’ve never been able to make consistent profits. I know some people do, but I just can’t.
Beyond that, as you have observed, there is usually a retracement right after that initial spike breakout. I try to time my entry to be right after the very end of that retracement. So it’s like, spike up breakout candle, retracement of 25 to 50% candle, continuation up candle which is my entry.
Oh well, I give up trying to explain myself I’ll leave all that up to you. Take your time. We aren’t rushing you. I personally could use a little time to digest all you’ve shown thus far
Thanks Graviton, very generous of you to offer me help… I’m going to need it for sure…
I had really good results trading bb walks on 30minute tf today… but exits are a real problem, saw half of my profits eaten up by sticking to the psar exit…
i have noticed on my trades that the point the psar crosses the mid bb tends to be the best exit… will have to investigate that further…
I have been reading this thread for sometime now, but as I am still new to Forex, I would appreciate a lot how this trading system works so far.
I understand Tymen has been working so hard, still trying to make this as perfect as possible! But along the way of it, I got a bit confused on what things I must do. Because some of the things are not used or changed, replaced with a new method, etc.
So, can someone show me the most updated one step by step?
By the way, I have a question on CBL method, which has been modified as well sometime ago. Is that method good when the extreme candle is very long? It seems that when there is a very long extreme candle, there could be a lot of waste of pips.
In my opinion, best exit is when a valid down cbl forms near the top of the trade. Odds are something like 75% that a valid down cbl indicates a reversal down. I probably would not have traded it down, because the midband is pointing up so steeply, but I wouldn’t trade against it either. This might be a rare case, though I’ve seen it before.
Note that if the PSAR is closing in on price action too slowly for the pair and timeframe you are trading, you can speed it up by adjusting the step value in the properties.
It also doesn’t hurt anything to draw in a trend line of your trade as it develops and if the trendline is broken, as it would be in this trade, you can exit and if the trade direction resumes you can re-enter for just a few pips. Sometimes it might help, and sometimes not.
Another good thing to know is what your risk reward is. On this trade it looks like it peaks out way up there, like somewhere between 1:4 and 1:5. You can correct me if I’m wrong on that, but that’s a rare event. 1:2 is good and 1:3 is great. if you are fortunate enough to get to 1:4 on a trade, you should exit at the first sign of a retracement. If the trade resumes you can re-enter for just a few pips, but most won’t.
Also, I know this thread isn’t about candlesticks, but that’s about as bearish a candlestick formation as you could imagine. I would have bailed out after the big bear candle engulfed the two previous bull candles, if not before. Waiting for a close in that situation is torture.
Sorry that I don’t have a good formula for this. It’s just a random collection of things that I see as I trade. I know Tymen is working on this and I wish him well, but I don’t see anything else to trigger a good exit off of. Perhaps someone else has something to offer.
I looked back over a lot of charts. Sometimes this PSAR crossing the midband gives a very good exit and sometimes it is way early, taking you out in the middle of a very good trade. Unfortunately, it seems the best trades are the ones where it takes you out too early. It might be something to watch, but it doesn’t seem to be a reliable exit signal.
There are a couple trading logs posted in the newbie section by IronHeart and pipbandit. They are both getting around 20% increase in account a month. I believe they have both been trading less than two years, so I consider that quite good results. You might want to read their logs as they have nice marked up charts and good discussion of their trades.
