In the middle of the bow : Guadeloupe = French Island.
Welcome to this thread Pilgrim.
Thank you so much for the compliments.
I will use my skills for you readers, to improve your trading and help you make lots of pips. 
Traders that make good profits from my teaching give me much satisfaction.
It also shows that we are going in the right direction.
My thread teaching the use of candlesticks on a short time frame is designed for people who wish to [U]make Forex trading a career[/U].
Full time watching is part of this work.
When finished, we can expect up to 4 patterns in any 6/8 hour period and to make between 40-180 pips on each trade, depending on your skill and the power of the trade.
A full standard lot is used when finished, that is, 2 amounts = 1 standard lot.
Then 1 amount = 5 mini lots.
With such statistics, it becomes possible to each up to $7000 USD maximum, in any 8 hour period.
This may seem absolutely incredible, but it is really possible.
That is why I do not see the need for long term patterns, since this money is made very quickly on these short term patterns.
Approx $500 USD per hour trading is not unrealistic.
ā¦, can i conclude that even if one is late entering the UM, then he missed the first lot, he still can enter at the re-trace hit with the 2 lot ?
I like your abbreviation - UM.
I think I will use that.
So from now on : [B] UM[/B] means [B]Ultimate Candlestick Trading Method.[/B]
You are correct.
You can enter at the retrace point with 2 amounts.
There is nothing to stop you.
You will just make less pips than if you entered on time.
The ultimate method is based on Evening star and then we go short. Why this short choice first ? I ask because, at first sight, going short as a beginner was frightening me more than going long ! Would you say that short is much more positive than long and you are much more confident with this reversal pattern ?
The evening star is a good clear pattern to start with. It is also a very powerful pattern.
Trading short is no different from trading long. The level of difficulty is exactly the same.
Turn you chart upside down and short becomes long and long, short. 
Just wanted to drop a note to say what a great job Tymen has done. I donāt post much but Iām always floating around reading and learning from this thread.
Iām also going live with GFT this week. Wish me luck.
ok
Ok and it comes with practice, practice and ā¦practice.
Really honored ā¦
Sure, it was just in case one missed the start, what happened to me yet while i wasnāt looking at the charts continuously. Half pips is still better than none
FXCaribbean
"Donāt go where there is a path. Open a new one and leave a trail".
[B]Now to explain how to use the 5 minute Keltner chart to get the best long entries.[/B]
Again we set up a 5 minute chart with the Bollinger bands and the Keltner bands with period 4, factor 1.
But the Di Napoli MACD, as it stands, will not work.
In its normal state, we use it for [U]short [/U]entries.
We need to set up the Di Napoli MACD for [U]long [/U]entries.
This is done by turning the MACD upside down.
How do we do this?
First, by finding what the values of the Di Napoli MACD are.
They are :
long moving average = 17.5185 (17.52)
short moving average = 8.3897 (8.39)
signal = 9.0503 (9.05) - [B]not needed.[/B]. Make this one invisible if you can.
To turn this MACD upside down we invert the values, as follows.
long moving average = 8.3897 (8.39)
short moving average = 17.5185 (17.52)
signal - [B]not needed[/B]
By doing this, we get an inverted MACD.
[B]See next post.[/B]
This is a picture of what you get when you invert the MACD >>>
By tymen1 at 2008-07-21
The red MACD is the original Di Napoli MACD.
Note that you cannot put the inverted values into the Di Napoli MACD.
You have to open a new MACD to put the values into.
The green MACD is the result when you put the values into inversion.
By doing this we are now ready to set up a 5 minute chart to trade [U]long[/U].
On the 5 minute ālongā chart you have :
The Bollinger bands - standard values as before.
Keltner channel - period 4, factor 1 as before.
Inverted Di Napoli MACD - long period = 8.3897 and short period = 17.5185.
You can set both the MACDās on the same chart and expand/contract them as needed. (On the above chart, the candlestick chart is contracted or minimized - you can see the colour bar above the MACDās).
When it is time to enter a trade, we do exactly as before.
We draw or note the middle BB vector, then draw or note the [U]inverted [/U]Di Napoli MACD vector.
The resultant will give us the best possible [U]long [/U]entry price.
A note on resultants next post.
[B]A note on resultants on the 5 minute KC chart for long trading :[/B]
[U]VECTOR [/U]ā¦[U]RESULTANT[/U]ā¦[U]BEST [/U][U]ENTRY [/U]
mid BB up, inv MACD upā¦upā¦upper Keltner
mid BB up, inv MACD slightly upā¦slightly upā¦near upper Keltner
mid BB level, inv MACD levelā¦levelā¦mid Keltner
mid BB slightly down, inv MACD downā¦slightly downā¦near lower Keltner
mid BB down, inv MACD downā¦downā¦lower Keltner
Note that this is exactly the same procedure as for trading short, only that we use an inverted MACD.
FXCaribbean asked why we started trading short first. Now you know.
By trading short we used a straight Di Napoli MACD.
By now going long, we have to first learn more by developing an inverted Di Napoli MACD.
[B]To Keitsuke :[/B]
Congratulations!!
[U]A word of strong counsel :[/U]
For the first 10 or so trades, trade the smallest amount you can.
This is so that you can āpractiseā live trading.
Be prepared for [U]slippage[/U].
Be prepared for the entries and exits to take longer than on a demo.
Be prepared for screen freezing.
Keep a sharp watch on your floating profit/loss.
I am not saying that the above problems will occur but be prepared just in case.
Also very important - know how the āre-loginā function works in case you need it.
Hi,
Here is a snap of my current screen.
By fxcaribbean at 2008-07-21
It is GBP/USD, 5mn with the new tymenās settings.
I wrote the number 1 where I beleive the engulfing start.
Then if i try to guess the direction following the guidellines, I have it wrong looking at the purple arrow ā¦ 
Where did i miss something ?
FXCaribbean
"Donāt go where there is a path. Open a new one and leave a trail".
Hi tymen1,
Right now, I am using Oanada fxtrade charts. I canāt seem to find the keltner bands. If you know can offer me some help.
[B]To FXCaribbean :[/B]
Oh no! :eek: :eek:
You have got it completely wrong!! :eek:
This is a result of having read thro my thread [U]too quickly[/U].
You will have to read it again more slowly and more carefully.
The 5 minute chart you have posted is a beautiful chart.
And the Bollinger bands, Keltner bands and MACD are all exactly correct.
Your interpretation of the vectors of ālevelā and ādownā is correct.
But thats where it ends.
The engulfing pattern, like all the other patterns are found, seen and read on the [U]main chart[/U].
They are [U]not found[/U] on the 5 minute chart.
The 5 minute chart is only an [B]aid [/B]to [U]getting a better entry [/U]on the [U]main chart[/U].
The main chart can be from 20 minutes to 1 hour timeframes.
Only the Bollinger bands exist on the main charts.
I trade the 4 majors and 2 other pairs.
To cover all the timeframes (20,25,30,35ā¦1 hour), I have 48 charts on my platform.
The 5 minute KC charts are further extras.
When you have found a [U]pattern on the main chart[/U], and you are ready to enter, then you switch to a 5 minute KC chart to get the best entry.
In doing so, you take those 2 vectors that you drew on your chart and find the [U]resultant[/U].
This resultant will point to one of the Keltner bands where you can expect to find the best entry.
When all that is completed, you can then toggle back to the main chart.
At this point it is most important that you stop trading.
Read my thread again from the beginning.
Do not rush it or you will go completely wrong.
Study carefully the entry method and note carefully when we are dealing with a [U]main chart[/U] and when we are dealing with a [U]5 minute chart.[/U]
This is something that you must grasp correctly because we also toggle to a 5 minute chart with [U]starc bands[/U] on it to find retraces.
You will also have to do a lot of work loading charts on your GFT platform.
Re-study the thread first, then post back and ask further questions as the need arises.
Sorry Ray_1, I know nothing about Oandaās charting except what I have read on this forum.
What I read is that the charting is effectively useless.
For professional candlestick use, Oanda does not have the standard of charting necessary to handle the task.
I, therefore, do not recommend it for candlestick use, but it is a good honest broker for general use.
But i had already opened an account with them liao. I think it is too late to back out. So what charting software should I use? Pls suggest.
Hi everyone and hi tymen,
iāve read this thread till page 34 in 2 days, i feel like my headās gonna explode but iām really happy with all iāve learned through all these posts.
first of all, Iād like to thank you tymen for sharing your experience with us newbies :). As Iāve been playing poker for long and had good results (even though there are players that are much better than me), I also gave advice to the people that were asking me questions, I really feel itās a good thing to help each other.
secondly, iād like to apoligize if i make a few english mistakes, as i learned english at school, so there are for sure a few mistakes here and there :rolleyes:
now, let me ask you a question. Iād like to practice the Evening Star Pattern on the 20, 25, 30, 35 ā¦ 60mn charts. However, as said earlier, MT4 only offers 30 and 60 mn, so thatās why I was trying to get dealbook with the link you gave us on post number 294, but I wasnāt able to get it, or should I send them a copy of my ID, or iām not really sure i understood it all
Iām sorry if this has been answered after page 34 (maybe there is a way to have these charts on MT4, maybe someone explained how to get DealBook lifetime), but i really would like to practice on these candlesticks, and if you could explain me how to get DealBook lifetime or set the 20, 25 mns charts on MT4, that would be very nice from you
I know that there is a possibility to have a lifetime DealBook with Kinetics, however, do I have to deposit money ? or i can demo-trade ?? and do i have to send them a number of papers by mail, like copy of ID and things like that ?
Oh, and even if iām not the first one, nor the last one to say it, but thanks again for teaching us with that much patience !
Sammy
Hi Tymen,
I canāt find any inputs to adjust on my Dinapoli MACD in Dealbook and I see you are using a different platform. So I tried those settings with the standard MACD and it seemed to flip it. In DB they have 4 lines: MACD, signal, Histogram up and histogram down. Iāve only got the MACD line visible.
Do you think this might work?
Thanks for everything and keep up the good work.
Thank you for the advice Tymen, I will make a note on all of the above.
I customised my account to 10:1 so I donāt over leverage. And itās great that I can trade mini lots on a standard account.
I recommend the GFT Dealbook because I believe it has the best charting that is out there and it is so user friendly.
I use it exclusively in all my posts.
To get the Dealbook demo indefinitely, I recommend google Kinetic securities in Sydney, Australia.
Telephone them and speak to Jay Pace, tell him Tymen sent you.
He will be happy to serve you.
I have received an email from him saying that he is keen to serve any customer that I refer to him.
You still get to deposit your funds in America (I take it thats where you live).
[B]All readers please note that I do not receive any commissions or inducements for my recomendations.
They are entirely my effort and I get no reward whatsoever for doing this.[/B]
Firstly, welcome to my thread - hope you learn much and make many pips profit!!
An indefinite demo is offered with Kinetic Securities of Sydney, Australia.
Speak to Jay Pace, tell him Tymen sent you.
However, you will be expected to deposit funds and trade live eventually. Not immediately but [U]sooner or later - it is not an indefinite freebie!![/U]
But you get the demo much longer than GFT direct who give you only 30 days.
or i can demo-trade ?? and do i have to send them a number of papers by mail, like copy of ID and things like that ?
No ID or such is required for demo trading but live trading with any broker requires various bits of information to identify you and set you up with your money.
This is only obvious.
If you are in America, your money stays in a Morgan Chase bank in America.
This is good news.
Going with Kinetic is definitely your best solution - way better than MT4.
I use Kinetic myself and I am glad I have found them. Their service is excellent.
Hmmmmmmmm.
Sorry about this Vulcan, but did you read my post #787, page 79, correctly?
Note that you cannot put the inverted values into the Di Napoli MACD.
You have to open a new MACD to put the values into.
and then from post #786 :
To turn this MACD upside down we invert the values, as follows.
long moving average = 8.3897 (8.39)
short moving average = 17.5185 (17.52)
signal - not needed
As you know, we have never used the histogram - so make it invisible.
The signal isā¦ānot neededā (see quote) - so make it invisible.
You only use the MACD as you know - right way up for shorts and inverted for longs.
Yes, I am using an older version of Dealbook.
It is not as good as yours.