Thank You Tymen : Yes i will setup mine Like that , Maybe once you have one chart setup and used the clone option you can just change time frame and save to cut down on extra mouse clicks… Ken
Absoutely !
But make sure that you also allocate the correct currency pair to each tab/workspace.
Nothing to stop you ! 
Go ahead. Let us know how you get on. 
Very keen to know !
For a 1 hour chart, use a 10 min KC chart instead of a 5 min.
For 4 hour, I suggest a 45/60 min KC chart for a best entry.
[B]As I am still unwell, I will make only one post for today - but hopefully a good one.[/B]
In the picture below, I have tried to show the [U]perfect evening star pattern.[/U]
Notes below the drawing >>>
By tymen1 at 2008-04-15
The [B]first candle [/B]is green and rises from a string of rising green candles as though one was climbing a hill. This 1st candle does [U]not [/U]come near the [U]middle [/U]BB, but is some distance from it - [U]this is absolutely important.[/U]The 1st green candle of the evening star sets the benchmark as it goes thro the [U]upper [/U]BB - or at least comes near.
The [B]next candle [/B]forms the star, it is a very [U]small [/U]bodied candle and it can even be a doji. Having the highest point, it definitely goes thro the BB.
The longer the upper wick, the further distance to the stop loss (lose more).
The lower wick does [U]not [/U]go past the halfway mark of the 1st candle.
This halfway mark is shown by the pink line.
The [B]3rd candle [/B]is red. It continues from where the 2nd candle left off but then goes down. Ideally, the lowest point is [U]below [/U]the pink halfway line.
The higher into the BB the set up is, the better.
Of course, there are variations but the picture is an ideal and this is what we should be looking for.
Tymen,
Since candlesticks show trader emotion - sentiment, do you find them equally valid on each timeframe?
It seems to me for a pattern on any particular timeframe to work, the majority would need to be trading it.
Curious
Alright. Now that I can see Tymen’s screen, I can completely understand the magnet analogy; just in that screenshot, I can see at least two formations (they may not meet our requirements). I hate to say it, but Metatrader appears inadequate for this approach- despite VulcanClassic’s excellent find about converting timeframes.
…Metatrader just doesn’t cut it for this strategy.
Don’t get me wrong, I like Metatrader and all, but Dealbook360 just blows it out of the water. Plus, Dealbook makes Metatrader look REAL old (NTTAWWT).
I trade at work during the day with the window open in the background, and this will save me a lot of jumping around between screens (when I’m supposed to be working). Plus, I really want to get my screen set up like Tymen’s. The visual effect is very impressive.
VulcanClassic (and others), you really should download it and at least give it a go!
I agree,
I too have abandoned MT4. Once U get used to Dealbook, there’s no going back. I’ve got a workspace for each pair and 9 timeframes in each, similar to Tymens. Too bad you can only load 83 charts before it quits.
I’m in the process of opening a live account to keep the charts.
I just want to give them the absolute min $250 to keep the charts and do my one live trade per month to avoid the “inactivity fee”. There is pressure to deposit $2500. They want you to trade with them which is fair enough. But for now I just want the charts.
Trade on.
Hi tymen1,
So for evening star pattern, the first candle must be a green candle, the second candle will always be higher then the first candle and the third candle must close lower than the second candle. So if none of these conditions are fulfilled, it is not considered a evening star. I have come across some evening star lookalike with a red candle as the first candle. Pls correct me to see whether i have understand the basic of an evening star.
Hello I seen you guys talking about GFT.I was with them for a demo last october and then after talking them into me keeping it longer than they said.I wore out my welcome on that.The guy started out saying I need a $2500 account for the demoto stay around , but than said that a $250 account would keep my demo going.I agreed with the $250 account.But they do not offer micro lots,so trading a mini lot account on $250 would be suicide, I went to Oanda.Which I currently use MT4 charts along side my Oanda account.GFT did not offer all there indicators without a $2500 account.I mean they leave out about 85% of them with a $250 account.I am not bashing GFT because I really like there charts myself,but they are kinda pushy to the new guy on the block to jump in and start trading.I don’t like pushy people and I dealt with about 8 people there,and they were all pushy.I will say though when I went to get my money out of there account there was no problem with that.Hope this post helps…goodtrading!!
jlmac,
I find them pushy too. Came just short of saying that demo is a waste of time. If I want to give my money away I’ll go to Vegas.
They told me the same thing; that you don’t get demo and indicators until you put in 2500.
Then I got thinking about it and for 250, you don’t get demo? So what. You still get the charts which is what I want. Just don’t trade it but the required once a month. In and out, unless it’s a winner, but money mgmt isn’t important in this case.
Also, they listed the indicators you do get, and all the ones you need for this system are included. So we’re good.
Rock and Roll.
How do you report these spammers?:mad:
Top right caution triangle in every post.
edit:
Hmmm… I just tried to report and it didn’t work for me. Oh well, they will find it.
Alright. So, I try to log back in to Dealbook, and I get denied access and told to call them…hmm, could be legit, but in light of the previous comments, I’m doubtful.
Well, my intent all along is to trade OANDA and use someone else for charting, so Dealbook probably won’t work out for me.
[B]ANYHOW[/B]- Before you all think I’m turning this into a broker gripe posting, I did find an MQ4 code that I think works better with Metatrader than the previous one. Still- big props to VulcanClassic for finding (and sharing) it in the first place.
Under the old one, I was only able to open one alternative timeframe chart; I could open a second one, but the first one would then stop ticking. With the newer code, everyone should be able to set up Metatrader with multiple timeframes each in their own window and have all ticking through at once. So you should be able to set up a window similar to Tymen’s except in Metatrader. As with all Metatrader changes, it will open up the same way the next time you open it.
Sorry in advance if some of you knew this already.
Hi Tymen,
Good to see you back again. Thanks for your continous support. I am practising various approaches, among which your candelstick. Let the cxandelstick not make you “sick”. I am also sutdied since more than twenty years the relations betwen psyche & body: mind and health. I am very pleased if I can make you any free suggestions, from my own experience on email: <[email protected]>. Take care. Bern
Hi Tymen,
Plse ignore previous message. Good to see you back again. Thanks for your continous support. I am practising various approaches, among which your candelstick. I will definitely share my experiences in due time. Let the candelstick not make you “sick”. I am also stuedied since more than twenty years the relations between psyche & body: mind and health. I am very pleased if I can make you any free suggestions, from my own experience on <[email protected]>. Take care. Bern
[B]Attempted aswers to all matters raised :[/B]
[B]To Cbarnett808, VulcanClassic and Jlmac27 [/B]:
I am sorry to hear that you are having these problems with GFT.
As I said earlier, I do not deal with GFT, but with a broker…Kinetic Securities in Sydney, Australia. They also deal with the share market, futures etc.
I have never found the manager at Kinetic, Jay, to be pushy. You get the demo indefinitely, no questions asked. You do not need to start live. The company is new, small, eager to have customers. You will get typical friendly, Australian service.
The Kinetic demo is, of course, the GFT platform since they are an introducing broker for GFT.
They use the Morgan Chase bank (Australian branch), just like in America.
If you operated from America or UK, you would use the local branch of Morgan Chase, I suppose.
This is then, an alternative to using GFT direct.
[B]Anyhow[/B], great work, cbarnett808, in finding that code and showing us a screenshot of your charts.
Do you need so many on one screen? You cannot place some on another tab, can you? Less charts on one screen means greater visibility for these charts.
[B]To Ray_1[/B] :
Sorry, there is no way you can have a red candle starting an evening star pattern. The only case where such is possible is the “morning star” which is found on the lower BB and traded [B]long[/B].
The morning star has a red candle to start with, a 2nd small red candle below it, then a rising green candle.
So it is the opposite of the evening star in both name and make up.
Look up the following hyperlink to see the difference in the two star patterns.
Japanese Candlestick Charting Explained
[B]To bernbeach [/B]:
Thank you for your encouragement and health suggestions. I think I am over the worst of my sickness now as I am back to trading again this morning.
Hi Tymen,
Glad to see you back and hope your doing better…I am a total newbie and still in the study phase of FOREX…I looked at various systems and finally have settled on your method as it seems to make the most sense for my particular situation.
I have been setting my various trading rules and there were two areas where I could use some guidance.
-
I set my stop/loss at 10% of my total account or 20pips as one money management rule. Do you think this is wise - or should I follow the method you outlined earlier? How hard and fast are your SL rules in this regards?
-
I have been jumping from chart and chart while demo’ing and still don’t feel comfortable with a timeframe for my main chart. Can you or someone knowledgable give further guidance on the main chart time frame with a rationale for why you use a 1hr or 25min, etc timeframe?
Looking forward to more trades and charts…thanks so much…
Sorry to ask again, I guess it got lost in the broker discussion.
Re Quote: Do you take a pattern on any timeframe, or do you blend them together in your mind to paint an overall sentiment?