Tyman, just a question, not trolling, not trying to start a fight, just a question. Is what gezza said accurate, or is it the case that the system in its “current” form is not working. I’m just wondering.
The Ever Quizzical VIPER
Viper, in all honesty I don’t think the system is ready to trade.
I’ve been reading this all along, and Tymen has told people in numerous occasions that it is a series of lessons leading to a conclusion.
I think the idea is to build a background in order to be able to see, and catch things as they happen in a different light.
OF course I could be way off base…
1 Like
I don’t think so Master T. You are spot on.
This thread will conclude with a trade-able system. At the moment it is a series of discrete lessons that do not add up to a “successful system”.
Tymen has made it clear all along that he doesn’t recommend anyone start trading until the all the pieces of the puzzle are in place.
There are however numerous individuals who can see the $ signs rolling and are jumping in prematurely…
Oh so true!!
Absolutely correct post!! 
Hey All,
I’ve been following this thread from the beginning and I followed much of the “Adventures in candlestick trading” thread as well. I’m keen to get more involved in this thread so I thought I would say hi.
Hi.
Nice thread Tymen, lovin’ it!
Thanks there [B]sijeeva[/B].
Some 80 pages long but definitely worth a close read.
I will be building on some of its principles.
[B]This is correct.[/B] 
At first we sought a definition for a trend.
Then I introduced trend trading with indicators.
The reason I did that is to prime everyone with some common knowledge and also create an anticpation of a great system with indicators.
But I had other ideas!!
I planned to deliberately let everyone down with the indicator trading.
The fact is that a host of indicators do not give good results and, therefore, I cannot endorse any system that make exclusive use of these.
The plan was to teach everyone thro a mass of disappointment that indicators basically do not work.
So to answer [B]TradeViper’s [/B]question - yes, [B]gezza10 [/B]is correct, the system [U]does not work[/U] in my opinion, because it uses indicators.
Now IronHeart has done some testing to show that the system does make a profit.
But he states that is in theory.
I have yet to see this system work in practice.
[U]To summarise…[/U]
Use the indicator method at your own peril.
I cannot and will not endorse it.
[B]
There is a far superior trading method just ahead (naked trading).
Why not just wait for it. ;)[/B]
This is great news, [B]nothingbutbull[/B].
It means that you are experiencing what I experienced - a system failing because of reliance on indicators.
My advice - forget the system and join us in the exploration of naked trading.
It is much simpler, far superior, very rewarding and will run rings around the indicator system when it comes to making a profit!! 
The indicator system was presented to teach concepts, especially with regard to the Bollinger bands.
It was never my intention to use it to trade.
The naked trading methods to be shown here will deliver what we are looking for - simple, reliable methods that pump pips!!
hello all,
Some participants must be suffer from the dog disease and can’t wait for you, tymen, to continue
thank you IronHeart, its pretty
[B]TOPIC 14
TREND TRADING WITHOUT INDICATORS
PART 2 - THE COUNT BACK LINE[/B]
In this topic I will introduce the backbone of our naked trading system.
The count back line is a procedure by which we get to enter at a certain point after the most extreme candle.
It is impossible without hindsight to see the top or bottom candle of a trend, but with this approach, we actually do spot that candle and set an entry from it.
So how does it work? 
I will need to show quite a number of pictures >>>
Here we have a downtrend and the lowest candle is chosen (the last candle in the trend).
By lowest candle, I mean the low of the candle.
In downtrends, we always consider the low of the candle when drawing a count back line (CBL).
A line is drawn to the top of the candle, then left till it hits the next candle, up to top again, left, then top. (3 candles are involved).
The final line is extended to the right and becomes our LONG ENTRY line for when the trend goes up again. 
So the rule is…
top, left, top, left, top.
We now wait for the next candle to develop and finish.
It is a doji candle - that does not matter.
It is lower than the last so we do the following >>>
Same procedure as before…
top, left, top, left, top.
We then extend the line to the right and it becomes a new lower LONG ENTRY line.
We now continue by waiting for the next candle.
Again it is lower to we again set up the count back line >>>
top, left, top, left, top - extend right.
We end up with the same entry line as before.
With a downtrend the LONG ENTRY line will go down, we never raise it.
We wait for the next candle to finish.
It is lower again, so we draw a new count back line >>>
The entry is in a new position.
The next 2 candles are not lower than the candle B from which we drew our last count back line (CBL) >>>
We do not draw count back lines from these 2 candles because they are not lower.
By lower, I mean the low of the candle.
This is the point in question.
We have to wait for a long red candle before we get a lower low.
From here we draw the CBL >>>
Note some important points…
The CBL skips across candles 1, 2, 3 because they have highs that are not as high as candle C.
If the candles would have the same high as candle C, then we would still skip across the top.
We then hit the side wall of candle B.
Note that candle 1 does not have an upper wick - its high is also its open.
The high/open of candle 1 is not as high as candle C - hence we skip across the top.
We end up with a new LONG ENTRY line.
Sooner or later, the trend is going to change to an uptrend.
The price action will then hit our LONG ENTRY line and we will enter long.
We now have an even lower candle - the yellow candle.
The lower wick (low) is way down.
We draw the CBL >>>
As the trend goes down, our long entry price is dropping steadilly.
The next candles are different >>>
Here candles 1, 2, 3, 4 have their lows not going as low as candle L.
Therefore, we do nothing but wait.
The next chart shows some action >>>
Here the price action is starting to reverse to becoming an uptrend.
Our CBL entry (LONG ENTRY) has hit a yellow (up) candle and hence we enter LONG at that point.
OK then but that does not look very exciting. 
The price is hardly going up.
Are we really going to make a profit?