Really learn a lot from this thread, thanks for all the guidance from tymen1. These few days the markets are very volatile, the EUR/USD and USD/JPY produce drastic movements.
I have been wondering that also. Lately, the USD keeps going up against everything. I canāt find an entry (aside from an engulfing pattern against this strong trend that stopped out on me!).
Hi Tymen,
Iām reading this thread little by little, but I donāt have much time cause my exams are coming hehe, so not much time to study the Forex, but Iām trying to take half an hour every day to thread this thread
And iāve got a question, iāve attached a chart of the USD/CHF 1-Hr chart from today 08.08.08, and thereās an evening star pattern, and I was wondering if there was any chance to avoid this one ?
I know that the higher bollinger band is going up, however the lower band is going up too, so thatās not a ātrumpetā one, even if it would have been obviously better if the higher one was level
Would you have shorted this pattern ? Thank you Sir 
Sammy
Hi Tymen,
Jay at Kinetic was very helpful in opening a demo account with DealBook 360. Thanks for the referral. 
I found it much easier to email him than trying to contact him by phone from the US. His specific email to his office is <[email protected]> I thought this might be easier for others to contact him at this address rather than Kineticļæ½s main email address.
I hope this is ok and helpful.
Bruce
Thanks Pilgrim, I was trying to contact him this week to no success. Did he mention how it would work with them in Australia and you in the US?
Hi ryujin,
No, we did not get that far. Tymen had stated earlier that customers could use a local American Morgan Chase Bank or the Australian branch to place their funds. Jay seemed like he would be very helpful in whatever assistance someone may need in setting up an account.
Bruce
I tink I agreed with VulanClassic point of view. It is hard to find a quality pattern in those strong trend conditions. In addition the Bollinger bands may be moving in the strong trend direction or trumpeting which make me unwilling to risk the trade. Just my 2 cents of thought.
Hi,
I use Visual Trader from CMS and I have more options in settings indicators.
Settings from Tymen are often period=5 (4), factor=1.
Can somebody help me, with other indicators constants?
Thank you a lot.
[B]OK, we are continuing to have lots of questions.[/B]
I have a lot more material I want to cover so that success for everyone becomes a reality.
But the questions will slow me right down.
That is why I have not posted new material at this point.
And also, the Olympic Games!! 
Now, I will answer all the questions, but please be advised, that lots of questions means little forward progress in our theory.
This is true of the classroom as well, and that is why teachers answer many questions after class or even after school!
It is important that questions be answered but also important that we get on and make progress.
If you feel that you can answer someone elseās question, then please do so.
It can save me lots of time.
If the answer contains an error, then I will respond.
Otherwise, I will leave it alone - it is good. And it helps the poster learn by answering questions.
[B]So here we goā¦[/B]
Ok Tymen, if I think I know an answer I will post it. I just didnāt want to presume anything, but if it helps you I will.
To place a PNC order in Dealbook 360: Click Trades -> New Order, and select the Parent and Contingent order type.
Good stuff and excellent work [B]FXCaribbean [/B].
You are indeed a hard worker and your reward will surely come.
To [B]VulcanClassic [/B]and [B]Condor [/B]:
I was wondering if there is any market condition that this system works best in. For example ranging or trending?
There is a candlestick pattern for every condition.
For a rapidly rising market the 3 green soldiers is the ideal pattern.
The evening star is for a reversal.
Engulfing patterns go from Bollinger to Bollinger.
You could consider 3 red crows for a rapidly falling market.
If the pattern is on the BB, as required, then the direction of the BB will give an indication of whether the pattern before you is safe to trade.
Again, I need to show more examples.
It [U]was [/U]juicy, not so much now as the whole world appears to be heading for a downturn!!
Sorry [B]matjes[/B], it is not good to tell, [U]or even hint at[/U] on a public forum, how much money one makes. It is too dangerous.
There are thieves and hackers out there, as well as greedy tax departments.
[B]Never post publicly how much money you are making!! :mad:
This should be an important lesson to all who are reading this post.[/B]
So your aim is to trade the forex for a living in the future? Is it because you started to figure out that trading forex with your Candlestick system is the best approach for a good income?
I am not sure about trading forex only in the future. I am going to make some modifications to my stock trading.
When complete, the stocks definitely bring the money in faster than forex.
There are advantages and disadvantages in trading forex.
See below where I post a thread for you to look at.
Nevertheless, I do believe that the candlestick method developed on this thread, the [B]UM [/B]is the very best way for short term forex trading.
As it stands now, the [B]UM [/B]brings in a considerable amount of money for the user and it is tempting for me to consider putting all my funds into it.
Do you already make notes about your Forex trades using this system? If so, do you have some statistics how many patterns you trade in your sessions, what their lost/won ratio and the risk/reward on average was (Just interested in the Pips, no need to reveal any financial things)?
I do not need to make notes about my own system - it is in my head!
4 patterns in an 8 hour period is very good. (and tiring too).
The r/r and w/l ratios are all matters addressed in this thread.
The stuff I trade is much the same as what is in the thread.
But I [U]never [/U]take details off my live trading - only the demo.
Reason - screen prints, editing etc take valuable trading time.
Also a mistake, and I have made many of those while preparing raw material, could easily ruin your live trading.
So my live trading remains separate and protected.
You readers should do the same - [U]always [/U]take examples, etc [U]only from a demo.[/U]
How much of your Equity do you risk in each trade?
Everybody should only risk about 1-2% of your equity on any one trade.
This is standard teaching.
I follow this rule closely.
To further answer your questions, I direct you to this thread of mine :
I wrote it last year.
http://forums.babypips.com/newbie-island/8071-forex-vs-stocktrading.html
Continuation patterns! Light bulbs are flashing on in my brain. I thought that continuation patterns would help you to know when to stay in a trade. I didnāt consider they would give entries in a strong trend.
There is so much more to learn! Thanks Tymen.
Welcome to this thread [B]H20diver [/B]and [B]Alevio[/B].
If you wish to make candlesticks you way of trading, you have a lot of reading to do!!
It is easy reading though.
I still believe that candlestick trading is the very best of trading.
Now both of you have asked the same question and I have already answered it somewhere - but I donāt know where!
So I repeat the answer here :
[U]Starc Bands[/U]
ATR periods = 15
ATR multiplier = 2
starc bands price = close
starc bands periods = 6
starc bands type = simple moving average.
[U]Keltner[/U]
ATR periods = 4
ATR multiplier = 1
EMA periods = 20 (the GFT platform specifies this as a modified moving average and does not give the periods, but a little research shows this is the correct value)
To [B]FXCaribbean[/B]
You may want to catalogue this post since this question above has come up more than once.
Welcome to this thread [B]SammyDeluxe[/B]!!
Now, as you asked āwas any chance to avoid this one?ā
Yep!!..Just turn your computer off!!
NO! I would not have shorted this pattern!!
The reasons are in the thread and it looks like you have covered that area.
I think I also saw this pattern the other day on the charts.
The price action is on the top BB only, the bottom one does not matter here.
We must always consider the [U]band on which the price action lies only[/U].
The lower band in this case, is developed the way it is because of the mathematics in producing a standard deviation.
We can see a [U]clear upward trend.[/U]
The price action is a clear breakout and the upper BB is showing a clear breakout.
The fact that the lower BB is not expanding is irrelevant.
It is ground for trading the [U]3 green soldiers.[/U] (a long pattern).
The evening star at best would produce a short period of level price action.
This is not satisfactory for good pips trading when the evening star calls you to go short.
If you did trade this pattern then a loss of 10 pips is to be expected in a āretrace firstā trade.
After that, if my memory is right, while waiting for the first retrace, the price action goes up and up and goes above the star itself.
This shuts down the trade and we go no further.
The maximum loss should then be 10 pips total.
Tymen,
Thanks for the Starc settings. I am filing this away for safe keeping!
Thanks again for a wonderful thread.
H20diver
Done.
May I recall to everyone that they now find 2 new thread (see my signature) for their training trade experience (live or not) in order to let this thread for lessons. I think we could then comment each of us and be able to give our feelings without disturbing the classroom.
To [B]Tymen[/B]
Like Vulcan wrote, Iāll also try to answer my best to queries. But I would suggest that before queries, new readers have a look to the summary post nd USE the training thread to raise our skill.
FXCaribbean
"Donāt go where there is a path. Open a new one and leave a trail".
If you want to understand what weāre 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
Good point, we should probably keep questions off this thread and on the UMS, UML threads instead, so as to keep the flow going.
Also Tymen, thanks for clearing that up with the market conditions. That was a huge key to this system IMO. When to trade what.
Awesome!
Thank you very much Sir, be sure that I wonāt leave it and that iāll have a few questions here and there. Unlucky you 
I was kind of sure youād answer that hehe. Iāve got a question for you, but first iād like to tell you that itās not a rude comment at all, just would like to hear you on that matter.
Iāve never seen you say something like āwell, it was a good short, but you got unluckyā. Itās something you could say when going all in preflop with AAās against some random hand in poker, and you end up losing (donāt know if youāre familiar with poker hehe). Arenāt your comments sometimes biased on results ? I mean, arenāt you sometimes result oriented ? Of course thereās a little bit of provocation in this comment, I know youāre a wise guy, jus would like to hear about that
But when you talked about the trumpet setting, you considered the lower band to say that the ātrumpetā setting was very bad, assuming the lower BB was going down
Iām not sure to have understood why this wasnāt a good trade except for the fact that the higher BB is going up (isnāt it almost always like that when you find an evening star pattern ?)
You mean that the 3 green soldiers BEFORE the evening star pattern are a bullish pattern, so we should keep that in mind and be cautious about the evening star short trade ??
Thank you very much for taking the time to answer, and iām sorry if my english isnāt perfect, french & german are my native languages
Sammy
Sammy, May I ?
This is not the fact that the BB is going up. You are true, we hope to use the method to radar short so it is also when trend is up. It is because you find there multiple things that should prevent you from going short with that one :
- The trend is clearly an uptrend (see the low BB)
- The first candle AND the star went thru the BB
- 3 green soldiers before = up trend (and there are more than 3 !)
Actually i would have wait for another bearish pattern. This second signal has occured and you can find it as another evening star just 2 candles later. That one was yet better, because only the star went thru the BB.
Then the trend changed to ā¦ level ā¦ not even down.
Would you agree to post those very interesting kind of examples and questions here ?
FXCaribbean
"Donāt go where there is a path. Open a new one and leave a trail".
If you want to understand what weāre 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