The finest in trend trading

I guess I am understanding rightly then. I have checked those threads :smiley:

I think I can say that the Bollinger Bands is one of the best indicators as I have read some successful traders’ methods.

This thread also confirmed me that I do not need so many indicators that are out there. It helped me a lot!

I also found that Tymen’s method is very very similar to this person’s trade style which I read before. (This guy made about a million dollars in a few years!)

yes, of course. :stuck_out_tongue:

When it comes to this kind of research, [U]there is nothing that I have not seen already.[/U]
The PSAR/mid BB crossover is NOT the best exit at all.

Try to avoid cherry picking trades.
Better still, leave the design work to me and you enjoy trading and making profits!! :slight_smile:

The best exit methods to date are…

[B]For the BB DNA method[/B] - the PSAR with the rules on post #3973/3974, page 398.

[B]For the BB Profit Walk (profit Grabber) method[/B] (still under development) - the stoploss + exit method which was converted to MT4 code by IronHeart a few pages back.

[B]Do not try to modify these methods or invent exit strategies on your own - it requires an enormous amount of correlation and testing work in many different timeframes (and mathematical experience to boot.)
Changing the parameters will most likely cause you to start having losses.[/B] :eek: :eek:

Be careful here, [B]Graviton[/B]!!

Remember how we had a lot of trouble with this earlier on, and as a result, I invented an exit method using a close retracing past a smaller candle.

Even this failed in the end and I then posted the NO TRADE areas.

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.

The best exit for BB walks that I believe we have to date it the one posted above - translated into MT4 code by [B]IronHeart[/B].
It is a combination of 2 indicator codes, and a 3rd code which selects the best out of the 2 for every situation.

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.

Yes, I am still working on an even better exit, but spending all my time trying to design a quality entry method for the BB walks.

Sounds like a good entry strategy, [B]Graviton[/B]. :slight_smile:

I am still working on this to make the entry even better!! :wink:

Tymen sorry to disrupt your thread but I wanted to post here :smiley:

This is my 1000th post!!!

Hooray!!!

I have finally joined the ranks of some of the finest people on earth.

Now if I could just get a couple thousand more posts I can catch up to you Tymen :smiley:

I understand this approach but I am trying to see if we can do better. :wink: :wink:

I’m just wondering how everyone is liking the BB Profit Walk trailing SL indicator. …

That’s the name I am trying to look for!! :slight_smile:

[B]IronHeart [/B]posted it a few pages back but I don’t remember where. :confused:

Thank you for telling us, [B]Johnnykanoo[/B], and thank you for choosing my thread in order to post your news!! :slight_smile:

I feel very honored!! :slight_smile: :slight_smile:

Congratulations, [B]Johnnykanoo[/B]!!

[B]Welcome to that very special, elite group just for us!![/B]

For those here, who do not know, [B]Johnnykanoo, Honorary FX Member[/B], is the 3rd longest serving member on this forum after [B]Rhodytrader, Honorary [/B][B]FX Member[/B], and [B]Dale Paterson, Honorary FX Member[/B].

[B]He is a very knowledgeable trader with experience in a wide variety of trading matters and can be relied on to give very accurate answers on newbie questions.
[B]He thoroughly deserves the award!![/B][/B]

I only rate as the 4th longest serving member. :o

[B]You are welcome to post here anytime, Johnnykanoo!![/B]
Feel free to join our chatroom…

Bollinger Band DNA - FOREX Trading using the Tymen Bollinger Band Strategy

There is another person who also just made [B]Honorary FX Member [/B]status - [B]Hellogoodbye4201.[/B]

I will post an update for the latest Honorary members on this forum shortly.

thanks graviton, yes i agree…

maybe as the psar starts to close in on price action we should start looking for bearish candles (in a long trade) and exit with the pips… i took 23 pips on that first trade i posted and could of baled out at 58…

i think when i write my trading plan i will give myself a daily target, say 60 pips a day, in that case at 58 pips up on 1 trade… the exit would of been obvious…

[B]Last night before falling asleep, I was thinking…[/B]

…time is getting on.
…we have covered much material.
…I got a powerful revelation of how to deal with the BB walks.
…we may even be able to eliminate the BB altogether from the DNA method, leaving only a bare chart.

…but more than this, I see the time is now pressing for the need to construct the PDF for the DNA method. :wink: :wink:

As I see it, with the month of August nearly over, and my usual desire to finish on November 15, the time is now to start doing the PDF.

[B]So basically, everything is on hold until the PDF is complete.[/B]

This is very necessary, since we have added many new traders to the method, and the thread has become excessively long, so they are all screaming for some order in the presentation.

I understand the need. :slight_smile:

Next year, we can start again, with Part 2.

This will give me time to develop the BB Profit Walk method properly and design an even better exit method for it.
In addition, we can give the DNA method some stern revision and updates.

A 2nd PDF for the DNA method is not out of the question for next year.

…So

…I am going to draft the initial work.
Because of the amount of material in the PDF, and the limited upload capacity of Babypips, I may well have to divide the PDF into parts.

When the work is complete, I shall submit the 1st edition to you all for your checking and approval.

I will call on the design expertise of [B]Merchantprince, DodgeV83, IronHeart[/B], [B]Ken DoubleU[/B] and of course, [B]NForex.[/B]
I will pay respects to the expertise and experience of [B]Graviton[/B].

The final work may take several re-writes but I shall endevour to remove all spelling mistakes myself!!

[B]Finally then, if you see few posts of mine on this thread from now on, it is not because I am absent, but very present and busy constructing the PDF.[/B] :slight_smile:

Sorry Tymen, just to clarify in my head…

if price action is type A… ballooning out of the outer BB and hits the 3.3 dev BB… exit there?

this often happens on the bb walk trades I am taking (30mtf) and very often gives excellent profits (maybe not the best, but very good all the same)

Sorry if it appears I am trying to modify your system, I am not, just posting observations… what is clear though, is the system does give good and regular profits… and for my needs im only trying to grab 50-60 pips/day…

Hi Tymen,

Not a problem, I will post the indicator again for everyone to see.

Please find the indicator(s) attached.

BB Profit Walk Trailing SL + Exit.zip (2.32 KB)

Only do this after several candles - otherwise you exit prematurely. :eek:

Sorry if it appears I am trying to modify your system, I am not, just posting observations… what is clear though, is the system does give good and regular profits… and for my needs im only trying to grab 50-60 pips/day…

40/60 pips is excellent for a new trader.
However, be prepared to get losses too. :wink:

[B]You are, of course, free to do as you wish[/B] - and modify any of the systems as you see fit.
However, the systems and indicators in this thread are developed with a lot of mathematical and testing research at a level beyond the capabilities of the average trader.
The stuff has been very much optimized to meet all conditions in various timeframes.

So if you do modify something, you are running into unchartered territory and risk an unfavourable outcome (a loss).

That’s why I say to let me do all the hard work and you reap the benefits of it by trading profits. :slight_smile:

It gives me great pleasure to know that others who, having failed at forex by trying many different strategies, turn to my methods and, consequently, become successful for the first time in their trading. :slight_smile:

How do you counter when a head fake occurs?

Tymen, we all look forward to the pdf’s as consolidation learning on this wonderful method.

I purchased Bollinger on Bollinger bands book as you have recommended in previous posts and would strongly encourage other newbies to get a copy.

Am awaiting my local library to supply Dynamic Technical Analysis shortly.

Regards

Mark

I found a possible issue with the indicators. They seem to change if I load the indicator again. This only happens when there is a sudden spike. For example, this was the USD/CAD 1HR from yesterday

And here is how it looked after I refreshed the indicator (either by removing then re-adding the indicator, or opening the settings for the indicator then clicking OK)

Is this the expected behavior, or is something wrong?

Hello Tymen1 and all the contributors and followers of this amazing thread. Today I finally am currrent feeling like I now face finals! I sincerely thank you Tymen for such a deep dive into this market and all the others whose Q & A’s flesh out the course material. I will now concentrate on finishing my ‘labs’, watch the action in the chat room and get up to speed elsewhere on BP. Then I can move on to my ‘finals’ (live trades)! Maybe one day I’ll even be able to give back.

Best Regards to All!
Needy

Hmm…this certainly is not the behaviour I expect…

Are any users of the GFT version seeing similar issues?

You have been reading too many funny books, Zaboon. :smiley:

I am familiar with the concept - it is irrelevant.

If you wish to trade the BB DNA method, concentrate on learning the material herein. :wink:
Then you will go places. :slight_smile:

This must be an issue with MT4.

I have no such problem with GFT Dealbook. :smiley:

There are 2 codes running simultaneously and the program chooses the better out of them for each candle.
From what I see of your pictures, it appears to be relatively harmless if you follow the correct extension line procedure. :slight_smile:

Hi Tymen, I must have missed the code that chooses which indicator “Long or Short” to use for each candle. The only way to use this indicator right now is to add both at the same time, overlaying on top of the other.

It would be great if you wouldn’t mind pointing me towards the code that chooses which to use at each candle!

Thanks!