Hi Tymen,
Interesting to see how you have evolved this system over the course of the thread, tweaking and improving in a [U]logical[/U] manner.
With KC gone, does this mean that MACD is gone as well?
Greetings Vulcan. 
No news from Mytwopips yet. 
Ah!! Yes, I forgot about that! :eek:
Yes, the MACDâs are gone too!!
Yep - another simplification.
Ok, more room on my screen for candles.
Yeah, I donât think weâll be hearing from MyTwoPips for a while. Too bad. I hear Galveston was smashed which isnât too far from him.
I have only been 4Xing for a couple of months and just this week recently converted from back to candlesticks from indicators.
I have been âscalpingâ using candlesticks on both 15 & 5 minute charts and have had a good success rate.
But my question is if scalping for smaller pips (< 10) and not going for the big pips should I still wait for a bollinger band expansion (trumpet as I have seen it described)?
The reason I ask is because bollinger bands are good in detecting larger breakouts and my targets are frequent/smaller gains.
Please advise.
What has been described is to actually [U]avoid[/U] trumpeting BB. The move is done, or youâve missed the beginning of it anyway (BB lagging), but candlesticks would get you into that trade before it trumpets. The use of the BB here is to trade away from a relatively level BB (non trumpet)
Perhaps three red or green might be more appropriate for a trumpeting BB (see what Tymen says).
I am NOT ADVERTISING.
I am EDUCATING.
Thereâs a difference.
THERE IS NO FIXED SPREAD IN FOREX. You should know that by now Tymen and you should be teaching that.
Deal with FIXED SPREAD BROKERS is giving your money away.
Yes, I use MB TRADING. Yes, I am an IB. But I am an IB because I told so many people about EFX Group they offered it to me as a THANK YOU. Thatâs the facts.
But I say you should use an ECN broker. I donât say you should use MB TRADING.
So, Tymen, donât spread false rumors about what I am doing and why I am doing it.
All you have to do is READ MY THREAD. NEVER LOSE AGAIN!!
. and youâll see all the people making pips.
My strategy is NOT incomplete. You donât know it so you shouldnât judge it. I know one thing, my strategy is easier to learn and execute than yours and probably more flexible and profitable, too.
Let the readers decide, Tymen.
There should be no question that Tymenâs trading strategy as detailed in this thread is an actual concrete strategy with concise details, one that has been carefully thought through, one that is explained very well and in clear terms, and one that yields proven results for traders that are willing to take the time to study it. This thread is one of those that I always feel comfortable recommending to people.
Hi all,
I just wanted to say how impressed I am with this thread and with the hard work Tymen has put in with his detailed explanations, exercises and answering questions.
I believe that candlesticks are the only way to go. I have tried experimenting with indicators but in the end they donât compare with candlesticks.
Although I am only on page 40 of the posts on this thread I know I have a long way to go but am looking forward to catching up and using this system!
Thanks,
Alan
Great to have you here [B]Kjcallaway2[/B].
VulcanClassic is correct in saying that avoidance of BB expansion is needed when trading patterns from the BB.(Bollinger band)
These patterns include Dark Cloud, Piercing pattern, Evening and Morning star, long and short Engulfing.
However, if you do want to trade on a BB breakout, then I suggerst using the 3 green soldiers or 3 red crows (they were black ).
You can trade these two patterns from anywhere and should give you good success, especially if the BB is rising or falling rapidly.
[B]Now for the post by Rumple.[/B]
So, Tymen, donât spread false rumors about what I am doing and why I am doing it.
OK, so lets have a look at this and see if I am spreading false rumours.
I do not believe you!! 
And I donât think any veteran trader on this forum does either.
I am EDUCATING.
Is that what it is?
Really?
Come on Rumple. Get real !!
I am a retired school teacher.
I have examined your posts.
I know about education.
And you are no educator!!
THERE IS NO FIXED SPREAD IN FOREX. You should know that by now Tymen and you should be teaching that.
This is hardly correct.
My broker, GFT, nearly always has the same spread.
The matter is irrelevant, and I do not teach that which is irrelevant.
Deal with FIXED SPREAD BROKERS is giving your money away.
[U]This is absolute garbage and it is about time someone here said so.[/U]
Plenty of traders are making pips here using various brokers.
At the present time GFT is doing a 1 pip spread on a couple of the majors.
This is a better deal than MB Trading, an ECN offers!!
Yes, I use MB TRADING. Yes, I am an IB.
So you do admit it and, therefore, do advertise (backdoor??) after all.
But I say you should use an ECN broker.
Personal preference.
90% of my money is made in trading the Australian stock exchange.
Forex is only part of my work.
I can tell you that the bid/ask spread is not nearly as glamorous as you so purport. If you are using limit orders, you are placed in a queue and a not served until at the top of the queue.
Market orders can put you at a distinct disadvantage.
[U]
Scalping[/U]
The stock market is much more volatile than forex (Rhodytrader confirmed this to me as well).
As such, you can make 10 times the amount in the stock market as you can in forex. (Assuming you pick the right stock).
That is why I stay there. All my holidays are paid for with one or two trades on the stock market. Not so with forex.
Further, with the stock market I do not have to worry about leverage or margin calls.
If you want to scalp, the stock market is the place.
So why scalp with forex?
Hence no need for an ECN.
[U]MB Trading[/U]
Last year they promised me Remote Trader with all sorts of wonderful things.
A demo was promised by December. December came and went - no demo.
Emails were sent to me but each promise was broken.
Today, I have still not seen Remote trader, and I believe the quality and facilities are nothing like what they raved on about.
Navigator just does not cut it as far as I am concerned.
Their charting does not even begin to compare with GFT or FX Solutions, and candlesticks need quality charting, not a mediocre facility.
Also am in Australia and want an Australian boker, not some broker in USA.
So why waste time with MB Trading?
âŚand youâll see all the people making pips.
My strategy is NOT incomplete. You donât know it so you shouldnât judge it
Good on the traders!!
I am an intelligent person.
After looking thro all your posts, I still do not see proper money management but rather posters still asking where to put the stop losses and claiming that Rumple does not tell them.
No stop loss = no risk/reward ratio.
So what am I to think?
I know one thing, my strategy is easier to learn and execute than yours and probably more flexible and profitable, too.
Your strategy eh?
What, did you and your boys cook it up in some back room?
Is it endorsed?
By that, I mean, is it recognized around the world as a genuine, proven trading strategy?
Veteran traders, Daydreamer65 and Dale Paterson put a caution on your method and today I do not see master traders such as the above and Tess and Tonymand rushing in to try your system.
Rhodytrader (a world authority on trading), who was here and now gone, had plenty of time to endorse your system.
He did not.
Now candlesticks are not my system.
The method, which is proven, was brought to the west by Steve Nison.
The money management I proposed is published on this thread by Boris + Kathy of Daily FX on this forum.
By the way, they are now both working with GFT!!
In short, nothing here is my own work, except putting it together to generate a positive risk/reward ratio.
The results speak for themselves.
Let the readers decide, Tymen
I agree, each to their own in trading.
The right system is the one that makes money for the trader.
So nowâŚ
where are these âfalse rumoursâ???
[B]Finally, you are welcome to keep posting here on this thread.
But please be aware, that this thread attracts intelligent people, and if you post here saying crazy things like âfixed spread banditsâ, then do not be surprised if you receive insulting, all be it correct, replies.
And you understand, of course, that I cannot be held responsible for other peopleâs posts.[/B]
Welcome to [B]Ravel96 [/B]and [B]The-Mez[/B] :
I see that both of you have only few posts but in that short time have come to the very wise conclusion that candlesticks are the only way to go!!
I also came to that conclusion some time ago, after losing money continuously trading forex. :o :o
Today, things are different!!
Now to continue the work here, I must set up that indicator designed by SimplexX and see how it goes.
After that, some final work on the Int/Adv levels and new, greatly simplified trading methods will be posted for both these levels.
Rumple,
Thou dost protest too much.
I agree that you are no teacher, when I was having trouble understanding your bid/ask no spread claims (which I now understand and [U]can[/U] be true), you did nothing at all to clarify or describe it a different way to help me understand. Instead you just kept posting the same thing - hyperlinks.
Just go keep doing your thing on YOUR thread and let Tymen do his. These arguments only distract from making pips.
I see a clash of 2 great traderâs theories, I hope this will just end soon.
I saw The rumpled one make a PDF file for Tymen a while back for no reason but giving thanks for sharing his knowledge to the community, (and Tymen being greatful for the contribution that therumpledone has made) and thatâs a beautiful thing! one helping another out!
Though Iâm really new to forex and all these theories, I believe these are two great traders with profitable theories (though I couldnât completely read any of them) and are eager to help the community thatâs being pushed around my scammers, which is a great thing to see! There should be no energy wasted on bashing each otherâs theories but rather acknowledge one anotherâs and improve on it!
I DO have one question for TherumpledOne, since Tymen is also probably wonderingâ
While I do agree that ECN may be better than a broker, MB only has a net capital of 12 Million while GFT has 70 Million, (Iâve just recently signed up to Oander)
Maybe a newbie question (Iâm new to Forex), but with the pressures that the banks are currently facing, wouldnât you want your funds to be in a more secure firm?
who cares how much you make, if you canât withdraw them then your screwed!
(though since your already considered a guru in the Forex community Iâm sure you know what your doing)
you both contributed your time and effort purely for educating and for unselfish reasons, so thank you!
Thanks Vulcan and Tymen for clarifying Bollinger Bands in relation to scalping. After reading your posts and looking back at the beginning posts on this thread it makes more sense now.
Now to apply itâŚ
Welcome to this thread [B]Sukkie[/B].
You are correctâŚwe must keep improvingâŚand if you stay with this thread you will find some major improvements to the strategies coming soon.
I think you are probably quite safe with any of the brokers quoted on this forum.
Oanda is a good broker with a reputation for honesty and allowance for small amount trading. Their charting, however, is very poor.
Sorry about the defense against Rumple.
But this is not the first accusation he has levelled at me on this thread and I also receive private messages from him with similar accusations.
I try to take these things in good humour and, hopefully my replies reflect this.
I also try to keep an air of being conservative on this thread.
As a result, when you get these strange posts (reading âtealeavesâ), you cannot help but think that the local circus clown has just dropped in for a visit.
[B]Akeakamai [/B]just recently gave a thorough rebuke.
[B]VulcanClassic [/B]has just made a very valid point above your post.
âŚAnd I will just get on with the business of this thread.
To [B]SimplexX [/B]:
I have set up your indicator âmodified starc bandsâ on a 5 minute chart.
You can see it below >>>
By tymen1 at 2008-09-17
The pink lines are your indicator and the green ones are mine.
In conclusion, I feel that your indicator as it stands is too wide.
It needs to be narrowed so that price extremes pass thro the lines.
My own version is better than the original because it goes either up or down, with no level bands.
It would be nice to have the bands indicate the exact tops and bottoms or near toâŚbut I realise that such a venture is a near impossibility.
Before you do an expert advisor on the Advanced level herein, please note that this level is in for modification.
The simplification that will follow will make your programming much easier.
Oh come on! Just drop it already. You sound like a 5 year old âHe started itâ. Who cares!
Listen, like you say, The TRUTH will prevail so just let IT do the talking.
Goodbye.
Ok Tymen most people dont scalp the stock market because you can unloadf there as fast. Remember in stocks someone has to buy your stock first. Its not as liquid as forex is. Stock markets have more fundamental factors involved than forex short term. Market hours for forex Im sure beats the streets hours. Stocks are heavily regulated. Some stocks are government controlled and you cant go short on them. There are many factors to stay away from the streets. So scalping in forex is alot more convenient than on stocks. Plus you got to pick the stock thats right for scalping out of say 6600+ stocks on boards.
Who needs SQUIGGLY LINES when all you need to trade are HORIZONTAL LINES AND CANDLE COLOR?
Just look at the chart.
All you have to do is enter the trade at the HORIZONTAL LINE with the candle color. IT IS THAT SIMPLE!!
Look at the chart and show me ONE LOSING TRADE if you followed this method.
EVERY LINE IS PASSED BY AT LEAST 5 PIPS. Just look at the wicks.
Furthermore, if you enter on the first line after a reversal of colors, you are in position to take home the LIONâS SHARE of pips.
By the way, where is the STARC BANDS indicator posted? I wanted to make a multi meter for STARC BANDS.
Thank you for your post [B]Pablopluto[/B].
Yes, from experience, I know you are quite correct about stocks not having the same hours, not as liquid etc etc.
Stock trading here in Australia is long trading - no shorts.
And I have no doubt that forex trading is more convenient because of these factors - trading both myself I should be aware of this.
Nevertheless, stocks are more volatile than forex and this is something I experience.
Sometimes I âscalpâ (short term really) but it is more swing trading around 1/2days. (very short these days because everything is going down).
Because of the volatility I do make a lot more than I would with the equivalent fund delivery into forex.
Coupled with this, the regulation is an advantage.
In a way, it is hard for me to pick a choice - stocks are safer but forex, with its short trading facility, allows for a more consistant income.
If you are at all interested, I made a thread about this matter in a discussion with Rhodytrader some time ago.
Here it is :
http://forums.babypips.com/newbie-island/8071-forex-vs-stocktrading.html