4 weeks no trading due to work at sea, we have internet but very slow,
what worse our admin block the content of our chat room. How bad:mad:
Anyhow I have quite a bit of time to study all of Tymen’s rules for become a succesful trader:D:D
Hope you all doing great and catch pips just dont get to greedy save some little to me TOO!!
All the best at sea, [B]erikskenne[/B]!! 
Have no fear, the forex market will be here and waiting for you when you get back.
Further, you will get to see and read the final PDF!!
I can report that at this time, as well as starting the BB DNA PDF, I am making great progress at designing the Profit Walk method.
[B]I have had another great revelation - just as great as the one that inspired the BB DNA method!! ;)[/B]
It involves a lot of programming study by me - which will result in all the indicators posted so far becoming redundant, that is, we will not need them.
Instead, we are heading towards naked charts again!!
And…wow!!..an even higher win/loss ratio than the DNA method!!
[B]I envisage the Profit Walk method as follows…[/B]
A generally naked chart.
A couple of signals to enter.
A trailing stoploss + exit indicator.
An extremely high win/loss ratio - much higher than BB DNA.
The Bollinger bands will disappear from the chart.
However, given the constraints of time, this work will probably not be revealed until February, next year, when I return from holidays commencing 15 November.
Sorry about that!! :o
My work at the moment is cut out with the present PDF.
In the meantime I will continue to polish up the Profit Walk method so that it is completely ready to go when revealed.
This is eeevil! 
Your mind never stops Tymen… but you made sure ours not too!
OK, no need to take up any more of Tymen’s valuable time. Let me explain that trading is a game of probabilities, if you find a system that is right 75% of the time, with good money management, you can live a very comfortable life. There is really no need to complain about the 25% of the time the system may not be correct. As MP has tried to point out, there is no system that is 100% correct. Once you have a good system that you have confidence in, just cut your losses on the bad trades it puts you in and don’t obsess over trying to make it perfect. There is no such thing and as others have tried to point out, the search for the Holy Grail is a waste of everyones time. Study and practice, that is your Holy Grail.
Tymen explained this better than I can with his example of the ocean. There are trends of very long duration lasting many days or weeks, the tide, and of shorter duration lasting hours or days, the big huge waves, and of very short duration lasting minutes to an hour, the very small wavelets that sometimes even run counter to the direction of the big waves. Watching the ocean for hours on end and thinking about market movements and trading sounds like great fun!
So it depends on what time frame you want to trade, but yes, if you want to trade the tide, a daily chart, it makes sense to buy at the lowest trough between two big waves when the tide is with you and when you want to take profit to try to sell at the peak of a big wave after the tide has moved a long way in your direction.
There will be many many retracements to any long trend, like many big waves between a high and low tide. But a 30 minute chart may be a little quick to time a daily chart entry well. It’s sort of like trading the little wavelets that could be running in any direction between and on top of the big huge waves. Sure it’s good to have momentum on the shorter charts going in your direction when you enter, but if you are trading the daily chart, the 4H and 1H direction will be much more important to entry timing and the 30M is drilling down on the retracement with a microscope for a daily trade entry. Not necessarily a bad thing, but also not something many daily chart traders have time for.
So yes, SOME retracements on a shorter term chart make a good entry on a longer time frame chart. Look at any daily chart valid CBL, and you will see by it’s definition it reflects a retracement on a shorter term chart. Unfortunately, it doesn’t work the other way around, that is, any retracement on a shorter term chart does not represent a good entry on a longer term chart. That is because that from the long term chart’s point of view, there will be very many short term retracements against the longer term trend. Only those few that are not themselves quickly exceeded by an even larger retracement (or more extreme candle) make suitable entries, and almost all entries will be retraced eventually, in hours or days or weeks. So the CBL tries to pick an entry just coming off the top of one of those big peaks (CBL formation) on top of a big wave (at the outer BB) for you to sell, one that won’t likely be retraced by an even bigger wave soon. If you really want to trade the daily, you have to be careful about getting pulled too far down in time frames with your attention. It’s a balance I suppose.
Did I answer your question?
Ohhh, higher win/loss ratio than BB DNA. Is it possible?
Im very curious about the new system, so I cant wait for 15 November, it will be my next xmas present.
Thank you Tymen
Well said, [B]Graviton[/B]!!
I agree here totally!!
I have just found another holy grail just for me - to keep off the sewer threads on this forum!! :o :o
All that happens is that you get trashed and abused by newbies who know nothing about trading and show no respect at all for what you know.
I try to tell them otherwise but I discover that all I am doing is throwing pearls to the dogs!! :eek:
It just reinforces things that I know…
This is a public forum and is open to terrorists, identity theives, scammers, criminals, drug dealers, Al Qaeda, trolls, pests, mentally ill people, sociopaths and illogical people.
The people I reply to are some of these.
And I can never be sure.
Some of the posters are just here to start and have arguements - I have seen many of them.
Unless they have posted some nasty attack on someone, they are not satisfied.
[B]I know that the Administration is doing much to get rid of these posters, but even so, you have to be careful these days where you post!![/B]
Tymen, as far as I know there are two types of people in this world…
Innovators and followers.
I’ve just received my very own copy of Phillippe Cahen’s Dynamic Technical Analysis (really enjoying it too!) and wish to become an innovator one day, much like yourself!
I’m amazed by the inspiration you provide on this thread.
Keep on keeping on!
Thanks Graviton, great answer…
So is it safe to say that cbl entries have a greater win % when the trade is in the same direction as the main trend? or is the win /loss ratio the same regardless???
You certainly know the art of suspense! Now I’ll have to wait patiently until Feb
thanks tymen for all ur hard work, it really is appreciated:) i’m really looking forward to the pdf and ur new material in feb. a break to relax and regain ur strength is definitely well over due.
i hope u never get deterred or disheartened by some of the silly things that can be said on these forums
i don’t like to post much because of being so new there’s little of value that i can add to the thread so i prefer to just stay quite, taking note without adding more clutter to the thread.
u and graviton are an incredible source of knowledge and inspiration to newbies like myself and i don’t think there’s any harm in letting u guys know every now and again how incredibly helpful u are to us all
ok brown nosing over i promise, thanks again guys:)
Could anyone code for the singnal from IronHart on post 4611 to be use on marketscope 2.0
Thank you,
Duniel
Hi Graviton
Thanks for your explanation to 60minuteman regarding the timeframes. Can I please confirm my learning on this point? I would post charts but I need 50 posts to qualify.:o
Currently the daily chart of the EUR/GBP shows a strong down trend with a slight retracement happening now which is hitting the mid BB.
On the 4 hour chart it shows the start of a Long entry BB walk - outer bands going away from each other and the mid band is pointing upwards.
On the 1 hour chart it shows the Long BB walk well underway and the outer bands are still expanding.
Firstly, am I on the right tracks in terms of understanding the concept of time frames?
And secondly, as this a possible retracement from the higher timeframes (which is where I am more comfortable) is it wise to wait to see if this is a trend reversal or just a simple retracement which will continue on the strong down trend?
Thanks in advance.
Mark
Hello again Graviton,
Sorry, that wasn’t exactly a great example to use given the volatility in EUR/GBP today.
I would also love to see this for FXCM’s marketscope 2.0 AND their new Strategy Trader platform.
Well if it’s a thread of learning what was post #4648 all about then?
He certainly didn’t appear to have too much on his mind earlier. If he doesn’t want folks to counter his comments, then he shouldn’t make them in the first place.
If it distracts him from his work, then what was he doing yesterday actively participating in the discussion on another thread.
Oh dear, you are getting yourself all tangled up aren’t you.
My reply to his comments of post #4648 have absolutely nothing to do with his system or thread. Read his post once more & then try again.
Again, wrong end of the slippery stick I’m afraid. Please see the 2nd paragraph of the reply to your friend Hordane.
I have no desire to become embroiled in a prolonged tit for tat dialogue exchange with his foot soldiers.
In future if Mr Wortel doesn’t wish to attract replies to his comments, then he should maybe consider not making them in the first place, or be a little more careful about what he says & how he says it.
Back to your learning folks!
You can test this out for yourself. I trade with the longer term trend because I believe I’m more likely to catch long BB walks with the long term trend. The win/loss ratio may be close to the same, but catching a long bb walk really does wonders for the r/r ratio.
Additionaly, I personally have had bad experiences with whipsaws in my trading in the past. This is just a personal trading problem I have had to learn to cope with. It may not apply to most or even many, I’m not sure.
Trading in only one direction for a particular pair completely eliminates all whipsaws from my trading. I could flip a coin to pick one direction and still eliminate whipsaws from my trading, but I use longer term trend to make that selection. I realize it’s almost as arbitrary as just flipping a coin (maybe just a little better), which is why I consider the possibility that I may have made the wrong choice and after two failed attempts at entry I will just not trade that pair anymore for the day. I miss some good trades that way, but I eliminate whipsaws and that is more important to me. And of course, I miss 1000 good trades every day in some market somewhere, so I just can’t worry about those. I save my worry for trades I take, and just ignore those I miss.
Yes, you are right on track with the way I look at price action. If it is a retracement, you are likely to get a bounce off the daily midband. But the lower timeframes must turn first, and the 4H and 1H formations show no sign of that. So look for direct price action confirmation of the entry. The 2 cbl off the bottom BB with mid band pointing between 2 and 4 O’clock would do it for me. You should develop your own trade criteria.
In general, if you look at any past long running trend, you will see many retracements that occured during it’s run. Only one, the last one, truly repersented a reversal of the long term trend. Depending on the pair and time frame, you’ll have about 4 strong retracements for every one actual reversal of long term trend. You can never know in advance, which retracement is just another good entry opportunity and which is really a reversal in trend, but this is a probabilities game. If you treat every major retracement to a longer term trend as a possible good entry, you will be right 80% of the time and make good pips. You will also be wrong 20% of the time and that’s why you must cut your losses short, or even better look to direct price action to tell you which it is.
Sitting on the sidelines while the market makes it’s intent clear is a wise position to take. Over the long haul, being right 80% of the time by treating retracements as good entry opportunities rather than reversals of the long term trend, along with good money management, should produce many good pips. Waiting until price is extended out to the outer BB identifies the larger retracements you want to select. Using a cbl entry is a direct price action indicator that that retracement may be comming to an end. I recommend always using a direct price action confirmation to enter a trade. To really make the most of this or any system, you need to be very picky about which entries you take. Taking only the best 1/2 of entry signals will make a huge improvement in trading results. Just sticking with 2 cbl entries that are not against a strong midband trend may do that for you, selecting the better entries over the weaker ones. Or you can use other trade filters that you have throughly tested if you prefer. For instance, I don’t take trades against the midband direction if midband is pointing against me more than 2 O’clock up for a down trade or more than 4 O’clock down for an up trade. But that’s just me. The point is, you need some objective method, or methods, to decide which are the better entries and which are weaker entries and only trade entries that are stronger according to your well tested method. Anyway, that’s my opinion.
Thank you so much Graviton for your very detailed explanation it is very much appreciated.
Sometimes I find that by the time I have a signal in the higher time frame I have missed the best part of the trade 
I guess this is part of the learning process and hopefully I will identify these trades much earlier and have the confidence to go with my instinct.
80% winning trades is the target but unfortunately it is more like 50/50 at the moment :o
I’m not too worried about making mistakes (as long as they are small) as I learn more about where I went wrong than I ever will by trades going in my favour.