Thanks for everything but that one isn’t true…
I’ll try to give info if needed as it helps me to understand.
FXCaribbean
"Don’t go where there is a path. Open a new one and leave a trail".
If you want to understand what we’re talking about here (UMS) then read this and set your screen and computer that way
tymen1 – Wow thank you so much for sharing your knowledge. I am really new to the forex and my head is spinning with all this learning.
I’ve gone through the Babypips school and will again a time or two. I have a couple different demo accounts open so I’m learning all I can.
tymen1 I just wanted to thank you for sharing your knowledge and say hello.
I was going to say it is an evening star but then I re-read everything about evening stars so … I say this is a dark cloud.
Hey Tymen1 and everybody else contributing in this thread,
finally finished the whole thing, took me a few days ;).
A really great system, but im wondering why you are still trading mainly the stock market and not the Forex with this almost riskless system.
You said once that 7000$ a day or 500$/h are possible, do you make even more money trading stocks?
Anyway you could get rich this way pretty soon, but in another thread you said “I will never be a millionaire” - how comes that? 7k/day (and growing exponentially as you trade more lots when you have more money) should easily sum up to a whole bunch of money soon.
Just curious 
Great thread, learned a lot of it, i will soon start to demotrade it.
I am really pushed for time tonight - so I will post what I can.
To [B]Ryujin84107[/B]
Welcome to this thread - hope you enjoy it and gain much from it so as to make many pips. 
You are the only one to answer the question on the trade. The answer will be on the final trade post coming next.
To [B]Deevz[/B] :
Alright, now I understand!
…, we would have to inverse the BB vector too…Back to the trades for me, I’m still having a lot of trouble with retraces
Horay!
But no! You do not invert the Bollinger.
It is not related to the MACD.
It does a separate job altogether.
Give yourself time to demo trade and get things right.
Rome was not built in a day. Nor will your trading be.
I do not know if you have done any evening star demos, let alone the engulfing demos.
Slowly with the building blocks!
To [B]Vulcan Classic[/B] :
Just to confirm those Di Napoli MACD values.
Firstly the signal is unticked - not visible.
[U]Normal[/U]
Long = 17.5185 (17.52)
Short = 8.3897 (8.39)
[U]Inverted[/U]
Long = 8.3897 (8.39)
Short = 17.5185 (17.52) (simply the normal the other way around)
I am sorry to hear that you are having trouble with Dealbook.
[U]As a last resort[/U], I can send you as an attachment, the extract for my program, if you give me your email address.
You then just click on it, it will open via the internet, and you can load the program.
Then you will have exactly what I have.
[B]That should answer everyone for now.[/B]
[B]Now to finish the long engulfing trade example :[/B]
My answer to “Can you see it”
The red candle in the last post, together with the 2 candles before it, comprise [B]…yes…an evening star pattern[/B].
Now it is not on the BB, but with advanced trading, you would consider the pips made so far as a [U]break even [/U]if the evening star went pear shaped.
But as it is, you can see below that the trade turned out excellent - so add another 60 pips to our 60 pips from the engulfer.
Total 120 pips in one run!!
OK, last chart - main chart >>>
By tymen1 at 2008-07-24
As I said, the evening star turned out excellent.
I am sure you could have made much more than 60 pips with the multiple amount method but I am being conservative to account for spreads and human error.
Lets look at the pips/hour.
The number of pips listed is 77.
We have reduced that to 60.
140 minutes to trade is correct.
So…for 5 mini-lots per pip we have…$5 USD per pip.
At 60 pips = $300 USD.
Excellent I say!!
Rate of pay is $300 in 140 minutes
That is $128 per hour.
[U]Risk/reward[/U]
Reward = 60 pips.
Stop loss at 1st and only retrace - place at 3 pips below lowest candle wick at 103.81 (81)
[U]This would be the largest stop loss you would place.[/U]
(As the trade was, the retrace trade was never in any danger.)
Entry made at 104.14 (14)
Difference = 33 pips. That is 104.14 - 103.81 = 33
So risk/reward at worst = 33/60
Which is approx 1:2
Which is excellent.
[U]Now with the evening star added on we can calculate :[/U]
Total time = 5.25 hours.
120 pips (conservative) in that time.
That is $600 USD if 5 mini lots in 1 amount was used.
That is $114 USD per hour.
[U]Now my final question :[/U]
Do you still want to trade long term time frames?
[B]Next post tomorrow.
An in depth analysis of trader types for this trade.
After that I will not go on until Vulcan Classic has his Dealbook problem solved.[/B]
Thanks Tymen,
Please don’t wait for me though. I’ll still follow along on the thread. I don’t really need DB to follow your examples.
Just for making my own mistakes.
Vulcan
If I can interject… the Dealbook may well prove a benefit if only for a short time, especially in the entry charts area…
dave
Blaiserboy,
Thanks for the input.
We are talking about another thread I started this morning.
I love Dealbook, but has been giving me problems lately. Their IT is on it though. They haven’t gotten to the bottom of it yet, but they’re working on it.
Hi,
Tymen, i would like to suggest everyone could give snapshots of pattern they see and what they trade (or would want to). We could even send what are the current guess to see if our knowledge is raising or not.
I came to the fact that maybe many of us are still stick with the UMS and not ready to completely “understand” the UML. IMHO, this is the reason why you had much less answer on the last exercise.
We could even make a new thread titled “UMS live” (and also UML Live). Then this current thread won’t be spoiled by those snapshots.
What you think tymen ? Can the other people of this thread give their feeling about that also ?
FXCaribbean
"Don’t go where there is a path. Open a new one and leave a trail".
If you want to understand what we’re talking about here (UMS) then read this and set your screen and computer that way
FxCarribean
I think you have a great idea… people post well documented charts…
and. can I suggest that people post the time frame that the pattern showed on. and the 5 minute chart a;long with some comments as to their reasoning…
I think you have a great idea, remains to be seen whether people want separate thread so the teaching thread is uncluttered…
Yes, I think it is a great idea too!
[B]FXCaribbean[/B], you have a natural administrative gift, and since we teachers are taught to administrate (for schooling), I am going to capitalize on your gift for as long as you are with us!!
To [B]VulcanClassic[/B]
I wonder what could be wrong.
I would be very interested in knowing when the IT people have done their work, so that I can understand more about computing.
FXCaribbean, I think you’ve had a good idea. Get the thread started and I’ll post my trades in it!
I tried to trade the shorter timeframes here in the Pacific time zone. It was very frustrating. I have changed to the 4 hour timeframe and am having some success. My judgement is better when I’m not sleep deprived!
This method is effective on the longer timeframe, even if it does take longer to add up the pips.
Hi Tymen,
Here’s one. I didn’t take it because I was sleeping. But it looks like an engulfing to me. This pair is taking a nosedive as we speak though.
Thanks to Fx for giving me a hand with imageshack.
Tymen, what format and size are you saving your pictures as?
It looks to me like and engulfing also… BUT i would ask if 3 candles later, it can be an evening star (just after the doji). I know the third candle went lower than the first but as the star has a gap with the first and the third…
I would like also to introduce 2 new thread UML Live and UMS Live for this kind of post…
FXCaribbean
"Don’t go where there is a path. Open a new one and leave a trail".
If you want to understand what we’re talking about here (UMS) then read this and set your screen and computer that way. Also read the live thread, UML Live and UMS Live
Do not trade without sleep [B]Condor[/B].
I have tried that - the results can be devastating to your bank account. 
The [B]UM [/B]will work on all timeframes.
It will just take longer to find a candlestick pattern on them, so be patient.
Remember - quality patterns only!
This chart is a 15 minute timeframe - a little short.
Do not consider the “evening star” [B]FXCaribbean[/B].
We are on the lower BB - the evening star is irrelevant.
The long engulfer is a good one.
However…
The lower Bollinger band is in breakout mode (trumpeting) downwards.
This means that price action will trend downwards.
The long engulfing pattern has interupted that trend temporarilly and the price action has gone level.
Ahhhhhh…we have seen this before!!
Prepare for the price action to resume its downtrend mode.
[B]Answer to VulcanClassic :[/B]
I take a chart that occupies my full screen and then I press “print screen” on my keyboard.
Open Microsoft Paint then Edit/paste.
After drawing/editing/writing on the chart, I then click the Image tab and resize the image 54% both horizontally and vertically.
I have found that this resizing complies with the Image Shack requirement to upload images of 1.5 Mb or less.
You computer will show the Mb size of your resized image if you put the image into a folder.
This is what I do.
To [B]FXCaribbean[/B] ;
You have done a wonderful work setting up the [B]UML [/B]and [B]UMS[/B].
You are certainly not afraid of hard work!!
Thanks.
The Evening star was just to ask you if it could be one. I agree on the fact it is not on the BB then not tradable. But IMHO, it is also important to “see” pattern even not with all the requirements at least to train also. Nison gives many tips and i’m trying more and more to use them to feel the prices.
Tymen, can you confirm it is almost 3AM for you ?
FXCaribbean
"Don’t go where there is a path. Open a new one and leave a trail".
If you want to understand what we’re talking about here (UMS) then read this and set your screen and computer that way. Also read the live thread, UML Live and UMS Live
Not all my money is available to trade forex at present.
Sorry [B]Matjes[/B], there are issues around my stock trading funds that I am not at liberty to disclose on this forum.
When all my money is fully free, I can trade forex only.
It is a pity - the stock market is doing many days when the price is only falling.
And I can only trade long.