The finest in trend trading

[unrepipant]

In this case, if you are at 124.36 and you want to go into the trade at 124.30, then you would set a sell-stop order @ 124.30.

If you are not using Take Profit orders, then you would simply set a Buy Limit order for 2 lots at 124.15 and another Buy Limit order at 124.00 for the next 2 lots.

If this trade were the other way around, with the current price at 124.00 and your entry at 124.10, with R1 @ 124.25 and R2 @ 124.50, then it would be as follows:

Buy Stop @ 124.10,
Sell Limit @ 124.25 for 2 lots,
Sell Limit @ 124.50 for 2 lots.

I hope this clarifies things.

Yes, Thank Ironheart. I get it now but you said “If I’m not using Take Profit orders”. I thought this was a take profit order. ie if the market is moving in my favor then I would have made a profit on 2 lots at (124.30 to 124.15.) and profit on 2 more lots from (124.15 to 124.00). What is the difference in this and a “take profit order”?

[didilut]

I figured while waiting for Tymen’s return next week that I’d put together the content of his posts so far regarding the CBL entry system he detailed, starting back on page 153.

His examples stretched over several posts so I took all the content, moved it into a single document and did some formatting so it could be read in page-by-page fashion. I then produced it as a PDF document that you may print out and reference while practicing those techniques Tymen has shown us so far.

I have made no changes to the text or images. I have added bookmarks to the PDF table of contents so you can jump to different sections easily.

---

        John (Merchantprince)

[I]“Nobody can be exactly like me. Even I have trouble doing it.”[/I]

Ola Merchantprince, call it’s very very good work!
Thank you for this exellent initiative, which sets all in one piece.
Sorry for my bad English:o

[IronHeart]

@unrepipant

Yes, Thank Ironheart. I get it now but you said “If I’m not using Take Profit orders”. I thought this was a take profit order. ie if the market is moving in my favor then I would have made a profit on 2 lots at (124.30 to 124.15.) and profit on 2 more lots from (124.15 to 124.00). What is the difference in this and a “take profit order”?

You’re right, they are both essentially the same thing. A take profit is a take profit at the end of the day.

I’m not sure which software you are using but some packages, such as MetaTrader (which I use) allow you to set your Stop Loss and Take Profit all within your entry order (see image below).

The SL and TP and the entry are all linked to 1 trade - so if the trade hits the SL or TP or you choose to manually close the trade - all 3 orders are taken out at once.

With some packages, you may have to set your entry order, SL and TP as 3 different orders. This is what I like to call a “manual SL/TP”. In this scenario, if your TP order is hit, you must manually close the remaining SL to avoid accidentally entering the position.

It all depends on the complexity of the software package tbh.

[ninety9]

I figured while waiting for Tymen’s return next week …

---

        John (Merchantprince)

[I]“Nobody can be exactly like me. Even I have trouble doing it.”[/I]

Great Job, Thanks, appreciate it :D:D

[unrepipant]

So here is a current 4h of EUR/JPY. The red lines are what I have chosen as an attempt to show recent current S/R. The black line is drawn as an attempt to show a trend. Is this trend line of any significance? Or am I looking for something thats not there? The price has broken through my resistance line. Do I look at my trendline (assuming it is one) to watch for action around it? Am I to expect any action around the breakout of the S/R. Just looking fo clues on how to read the price action with some form of intelligance.

[dobro]

So here is a current 4h of EUR/JPY. The red lines are what I have chosen as an attempt to show recent current S/R. The black line is drawn as an attempt to show a trend. Is this trend line of any significance? Or am I looking for something thats not there? The price has broken through my resistance line. Do I look at my trendline (assuming it is one) to watch for action around it? Am I to expect any action around the breakout of the S/R. Just looking fo clues on how to read the price action with some form of intelligance.

The last touch of the S line would have been an ideal long play with a SL below the S line. R:R would have determined the exact number of pips the SL would have been. Now that price has broken R, you might go long with the TL as your profit target. My little monitor doesn’t show the numbers very well. Just 2 ideas as to playing S/R & TLs. d.

[unrepipant]

The last touch of the S line would have been an ideal long play with a SL below the S line. R:R would have determined the exact number of pips the SL would have been. Now that price has broken R, you might go long with the TL as your profit target. My little monitor doesn’t show the numbers very well. Just 2 ideas as to playing S/R & TLs. d.

Thanks Dobro, #1 is R:R for Risk/Ratio? #2 Is the trend line I have drawn valid? I’m still getting a feel for drawing them correctly. I know the rule is it ought to touch at the PA at least 3 times but when your just starting to learn this sometimes it helps to have some feedback from visuals. So far in the naked trading method Tyman has not mentiond trend lines, just S/R but I would like to hone that skill as much as possible.

[PTB]

I thought this was a very useful and informative thread. 301 Moved Permanently

[RenaLa]

You start drawing your CBL’s when this disagreement is occurring, so you can get the best possible entries! This prevents you from jumping in in the middle (or even worse - just at the end!) of a trend, so you can maximize pips!

As I see it, the idea behind these CBL’s is to get into the trend identified by the higher timeframes at the optimum time on the lower time frames. This lowers your risk, and increases your gain - making your Risk/Reward ratio more favorable.

I would start drawing CBLs in sideways cannel only

[ReaperKK]

I thought this was a very useful and informative thread. 301 Moved Permanently

Great read!

[xXTrizzleXx]

@ unrepipant

Don’t forget to factor in the spread to the prices that you want to enter at/exit at.

For example, the current market price is 1.4500, and you see a potential move upwards. You decide that you are going to set up a long position at 1.5000, and so place a Buy Stop at 1.5000. However, the spread is 5 pips, and thus if you want your trade to actually be initiated at 1.5000, you need to set your Stop Buy at 1.4995 (due to the spread).

However, your Limit Sell (which would be your Take Profit) can simply be set to the price which you want to take your profits at, and if set at 1.6000, your trade will be exited at 1.6000.

Just be wary of the spread, as every pip counts.

Cheers,
xXTrizzleXx

[unrepipant]

@ unrepipant

Don’t forget to factor in the spread to the prices that you want to enter at/exit at.

For example, the current market price is 1.4500, and you see a potential move upwards. You decide that you are going to set up a long position at 1.5000, and so place a Buy Stop at 1.5000. However, the spread is 5 pips, and thus if you want your trade to actually be initiated at 1.5000, you need to set your Stop Buy at 1.4995 (due to the spread).

However, your Limit Sell (which would be your Take Profit) can simply be set to the price which you want to take your profits at, and if set at 1.6000, your trade will be exited at 1.6000.

Just be wary of the spread, as every pip counts.

Cheers,
xXTrizzleXx

Thanks for that info. Good to know. Lots to learn!!

[dobro]

Thanks Dobro, #1 is R:R for Risk/Ratio? #2 Is the trend line I have drawn valid? I’m still getting a feel for drawing them correctly. I know the rule is it ought to touch at the PA at least 3 times but when your just starting to learn this sometimes it helps to have some feedback from visuals. So far in the naked trading method Tyman has not mentiond trend lines, just S/R but I would like to hone that skill as much as possible.

R:R means Risk/Reward - shoot for at least 1Risk and at least 2 or better for Reward. Frankly, my TLs can be a bit subjective and sometimes I don’t even draw them if a pr. is obviously going in a direction. But if you are trading the 4H then most would say draw a TL on the D., maybe even the Weekly, and on the 4H. Do they agree? If not you have some analyzing to do, the thinking “stuff”. No easy answers there I’m afraid. d.

[sijeeva]

Nice PTB
i got some idea on trendlines

Thanks for the pdf work done by Merchantprice

[sijeeva]

Is there any correct entry method to make use of BB bubble and sausage !!! (without indicators)

Tymens previous post :

" [I]Let me let you in on a little [B]secret[/B] Jack.

The squeeze is an area where trends are born.
The MMACD crossovers often start in the squeeze!!

This means you are introduced immediately to a BB bubble or sausage!!

This means you are introduced[B][U] immediately to profit[/U][/B]!![/I] "

[nivlek78]

Tymen, just wanted to say you are a genius with the CBL.
For the longest time, my Swing trading Entry method (similarly without Indicators) has been to just enter on the high/low 2 candles before, on the assumption that when price retraces to the level two candles before, the retracement is ended. (ie…i only trade LT trend)

It works well but fails miserably when PA decelarates towards the low/high point and my entry becomes too close due to small candles and I get whipsawed.

Your method is similiar in principle BUT With your CBL, you effectively negate the “rogue” candles as your CBL line effectively bypasses them

You are a freaking genius…

[nothingbutbull]

In Tymens absence I’m trying to teach myself MQL4. For the most part I’m getting along fine but I have a couple of very basic questions. Anyone know any forums where I can get a couple of basic answers?

Cheers

[ninety9]

@nothingbutbull

In Tymens absence I’m trying to teach myself MQL4. For the most part I’m getting along fine but I have a couple of very basic questions. Anyone know any forums where I can get a couple of basic answers?

Cheers

MQL4.com (Documentation)

Attachment may help a little too.

Darn, Credit where credit due from: FF

mq4 training.zip (1.85 MB)

[unrepipant]

Trying to see if I’m getting the timeframe drilldown. This is CABLE. The red lines are S/R I drew on the 4h. The overall trend for daily and weekly is down. I went to the 1hr and drew the blue lines for the shorter term trend then carried them over to the 15M where the 1h and 15m lines were similar. At this point do I start looking for possible action around the 1h and 15m trendline? ie start looking for a CBL entry. Or do I wait for the action around the 4h S/R? Or do I look for both?

[TraderAlan]

Tymen, just wanted to say you are a genius with the CBL.
For the longest time, my Swing trading Entry method (similarly without Indicators) has been to just enter on the high/low 2 candles before, on the assumption that when price retraces to the level two candles before, the retracement is ended. (ie…i only trade LT trend)

It works well but fails miserably when PA decelarates towards the low/high point and my entry becomes too close due to small candles and I get whipsawed.

Your method is similiar in principle BUT With your CBL, you effectively negate the “rogue” candles as your CBL line effectively bypasses them

You are a freaking genius…

Am I right in concluding that the purpose of the CBL method separates the wheat from the chaff, the lambs from the goats and also the retracements from the real trend changes? :pIf so, then is it possible that a different number of candles to calculate the CBL may be better to trade different markets, such as say commodities, stocks etc… Just speculating really.