The finest in trend trading

Thank you [B]DodgeV83[/B]. :slight_smile: :slight_smile:
I agree completely!!

[B]From now on - [U]no one[/U] posts PDFā€™s here except me, [B]DodgeV83 [/B]or [B]Merchantprince[/B].[/B]

[B]All others are to ask for permission to do so first!! [/B]

Here is the [U]correct [/U]and [U]acceptable [/U]way to post your material on this threadā€¦

http://forums.babypips.com/newbie-island/30564-how-post-charts-forum-upgraded.html

How does a newbie without the relevant post count get his/her charts up as I have tried with the photobucket method with no sucess due to lack of posts?

PLEASE EXCUSE ME, I NOW HAVE THIS SORTED. I WAS TRYING TO UPLOAD THE IMG INTO THE FORUM RATHER THAN CUT AND PASTE. WE ARE COOKING ON GAS NOW!!!

In that case, a PDF will not work either!! :stuck_out_tongue:

I would recommend in your case to post on other threads as well, in order to get your post count up.

Hi Graviton, hopefully this chart works and is more self explanatory.

The PA was at the upper BB which I took as the extreme candle. As this candle was large I cut it in 2 to get my CBL with the view to going short. The following candle closed below the CBL which I took as my cue to going short.

I take your point about the earlier PA coming out of the squeeze and into a nice short BB walk but unfortunately I was tucked up in bed dreaming Forex!!

In hindsight, I am going to leave this pair out of my studies for now as I find the PA is a bit too volatile for me.

Thanks again

Mark

I have now mastered the photobucket chart thing so no more PDFā€™s!!!

You should have entered short at the line that you drew on the chart!! :wink:

I notice that the same red candle (the entry candle - one after the extreme) then went down to touch the mid BB.
You would then at least have got out with TP1.
TP2 would have lost.
So no loss. :slight_smile:

I take your point about the earlier PA coming out of the squeeze and into a nice short BB walk but unfortunately I was tucked up in bed dreaming Forex!!

Yeah, you have to sit at your computer if you are going to trade.
You can only do that on a daily and you must also envisage staying in for longer.

In hindsight, I am going to leave this pair out of my studies for now as I find the PA is a bit too volatile for me.

There is nothing wrong with this pair - I trade it myself.
It is one of the 4 majors and is quite safe!! :wink:

Thanks Tymen.

The PA on the red entry candle went down to the mid BB and back again so quickly that I did not have enough time to get in and out of the trade to make profit :frowning:

I guess you only learn from your mistakes :wink:

Thanks again for your comments and I look forward to the final lesson and concluding pdf.

This has been a wonderful thread and great journey for myself and others. :smiley:

OK, I understand this trade and agree with what was said. Iā€™ll add that to avoid missing a TP1 point when trading this system, you might want to set it to take profit automatically with the TP setting on your platform. You will have to adjust that a little as new candles are formed and the midband moves slowly, but at least you donā€™t miss a TP1 point while you are away from the screen for a few minutes.

Generally, I agree that the only way you can let a trade run overnight (or all day while you are at work and canā€™t check on charts) is to trade the daily charts. There is a situation where I will let a trade run overnight on the 4H charts. If Iā€™m well ahead, and have already decided to exit with 50% or more of my profit on the trade in the worst case, and I believe the trade is likely to continue the profitable trend overnight, I will set my sl to collect at least 50% of my profit and sleep soundly knowing thatā€™s where I would have exited had I been awake anyway. Iā€™ve found this doesnā€™t work well for me on the 1H and below charts since those change trend direction so quickly and so often. On a good 1H trade, I will close the trade take all my profit before bedtime and sleep soundly. So I guess what Iā€™m saying is, I believe my experience and methods give me a slightly higher probability of predicting the next two 4 hour candles than the next eight 1 Hour candles. After trading for many years, this gets just a little easier. If you are in any way uncomfortable trying to do this, take all your profit before bedtime and sleep soundly. Tomorrow will be another day. Happy trading :slight_smile:

To add to this itā€™s also a useful way to avoid the temptation when youā€™re starting out in trading to wait and see about maybe getting a little more and then having it turn around suddenly and a big chunk of your profit disappears. Taking some profit at the Mid BB will then become 2nd nature after a while.

graviton, again forgive me for my questions. How do we set our TP1 automatically on MT4?

Just set the Take Profit amount to the midband and adjust it as the midband adjusts. You can right click on the trade and use modify to access the Take Profit level at any time.

so I have to adjust/modify my TP1 in every candle forming? right? because you cant set TP when the midband is slanting up or down.

If the mid band isnā€™t moving much, you wonā€™t have to adjust TP1 much. If the price isnā€™t moving much, you may not need to adjust your TP1 for several candles. Practice it a bit and it will get easier. Happy trading :slight_smile:

Hi Guys, first post so be gentle. Itā€™s taken me 3 weeks to get here and my eyes and brain hurt.

Iā€™m new to forex and I really appreciate all the input from the forum members and I would like to say thanks to all who have contributed.

Iā€™ve been constantly losing on my demo account (no surprise there then) and I wonā€™t trade live until Iā€™ve mastered the BB dna.

Tymen your a gem in this world and please keep up the excellent work.

Donā€™t worry, the PDF, which I am constructing now, should be here soon!! :slight_smile: :slight_smile: :slight_smile:

Iā€™ve been constantly losing on my demo account (no surprise there then) and I wonā€™t trade live until Iā€™ve mastered the BB dna.

Do not trade live until you are consistently profitable with the demo.
Then you can go ahead with confidence. :wink:

Hi All
Business continues as usual in the chat room

Business as usual
BollDNA.com

This chat room is an excellent place to get up to the second trade ideas and exchange theories.

In my opinion, itā€™s a must of your DNA trading!

Big Thank you to BP Admin. Please now post quality content and questions

As this thread undoubtedly winds down as a result of Tymenā€™s dismissal, Iā€™ve set up a separate bolldna.com/forum/topics/bb-dna-method-postbabypips to cover what may transpire next. Be sure to make your thoughts heard and get an idea from Tymen as to his future plans for discussing this strategy.