Tymen,
I came across this trading simulator for MT4(free, nothing to join nor buy) that I think can shorten the learning curve significantly… Let me know if you want me to post it here. Just trying to contribute to your efforts.
Sounds interesting
Hello,
Can someone tell me what are the default settings for the Bollinger Bands in our MT4 platform per Tymen? I think that I changed them a while back so I want to make sure that I am on the same page as the rest of the group.
Thank You:)
Master, I just funded my account with $300. Can you ar some tell me what style of trading to adopt.Secondly what time frame should i use?
I just funded my account with $300. Can you ar some tell me what style of trading to adopt.Secondly what time frame should i use.? Thirdly what indicators do i use?
If you don’t know any of that yet, perhaps you should demo first to figure it out. What is right for someone else may not be right for you.
Thnx A Lot
Hi,
You may know this, but if you didn’t, a little trick in general too is to go into any indicators “properties” and click the “Reset” button and it restores the default settings. The default period for the BBands is 20.
Hope that helps 
Sweet pip,
No, I did not know that… thanks for the tip.
Hi Tymen,
What do the Keltner locations signify ?
Also, is there a particular timeframe that vectoring works on best ?
Happy Easter Everybody
If I understand Tymen correctly, using the 5 minute chart, this is what happens with the price with these conditions. The table didn’t turn out right in the post but I think you can get the point.
[B]Bollinger Band MACD Keltner Channel Price[/B]
Up Up Upper Up
Down Down Lower Down
Up Down Middle Level
Down Up Middle Level
Level Up Above Middle Slightly up
Level Down Below Middle Slightly down
Up Level Above Middle Slightly up
Down Level Below Middle Slightly down
[B]Hello again to all readers of this thread. I, like many of you, have been away on the Easter break. Now to answer all those questions :[/B]
[U]To Allate[/U] :
No trading - not enough money. Save at least $1000 for a micro account and demo trade in the meantime, using the evening star as shown here on a 25min-half hour chart. Follow this thread carefully from the [U]beginning.[/U]. Indicators as in this thread.
[U]To Moneda :[/U]
The standard BB settings are : period=20, deviation=2.00
MACD (standard) : 9,12,26
Keltner (modified for this work) period=5, factor=1.
[U]
To VulcanClassic :[/U]
Max99 is exactly correct in what he says.
Each [U]resultant[/U] points to a particular KC band. The price will go up and down in a 5 minute chart but that particular KC band is the [U]best [/U]price you can expect to get for your entry.
The [U]resultant [/U]vector of the MACD and middle BB vectors gives a [U]particular[/U] KC band (middle, upper or lower.).
This [U]particular [/U]KC band is the best price you can expect for entry.
(There, I have said it twice - I hope readers understand).
The 5 min chart for vectors is a good one (remember, indicators are delayed data) It works because a 5 min chart is your main chart chopped into bits. The delayed data, therefore, is not so significant.
Readers who still do not understand are asked to follow thro the complete live trade sample to be fully shown with charts.
To Moneda :
I came across this trading simulator for MT4(free, nothing to join nor buy) that I think can shorten the learning curve significantly… Let me know if you want me to post it here. Just trying to contribute to your efforts.
Yes, post if you so wish but please wait until I have finished showing the charts for this one trade - reason - I fear readers are becoming confused.
[B]Here is the sample live trade going from start to finish. I would ask that readers [U]do not interupt[/U] till the charts are finished so that the flow of viewing will be smooth and minimize confusion.[/B]
I will start by posting the[B] main chart again[/B] so that we can see where it all starts from.
Notes below >>>
By tymen1 at 2008-03-17
We are trying to get the [U]great entry[/U] on the 4th candle and to avoid the [U]poor entry.[/U]
[B]Next post shows the 5 minute chart. [/B]
[B]Here is the first of a series of 5 minute charts showing how to get the [U]great [/U][U]entry[/U][/B]
Notes below the chart >>>
By tymen1 at 2008-03-17
This 5 min chart shows the standard Bolinger bands in blue and the Keltner channel fully in grey (done in Microsoft Paint for clarity).
Note that the middle KC band is [U]not [/U]shown and the MACD [U]not [/U]shown. Reason - these are earlier charts from last year and the later ones are much improved.
But I can tell you that the MACD was going [U][B]UP[/B][/U].
You can see from the chart that the middle BB band is going UP.
Therefore, the [U]resultant [/U](the price) is also going UP.
The best entry we can expect is, therefore, at the UPPER Keltner band.
(Now if the resultant was say, [U]level[/U], the best entry we could expect would be at the [U]middle [/U]Keltner band. And, if the resultant was say, [U]down[/U], then the best entry we could expect would be at the [U]lower [/U]Keltner band.)
I have located the upper Keltner channel area with a big yellow dot.
But how do we get this price when the 4th candle started where the orange line marked [U]begin [/U]appears ??? 
To get this price we use a technique that is well practised with experienced traders but newbies really have to learn this technique. [B]It is very simple and given in the next chart in the next post.[/B]
[B]In this post I give the very special technique :[/B]
[B]waiting[/B]
[B]doing nothing[/B]
[B]sitting on your hands[/B]
[B]This next post shows the result of waiting ![/B]
Notes below chart >>>
By tymen1 at 2008-03-17
By waiting and watching the 5 minute chart, we see that the [U]begin [/U]candle has become a green candle and surged to the upper KC area !
This is really good news! We can now decide to enter since we know that the best entry we will get is near the upper Keltner band.
[B]Wait for the next post - it shows what we do![/B] 
Hi tymen1
I love your noneducational presentation on Candlestick trading, but since that style of trading is considered scalping and Oanda doesn’t allow it, can you please tell me which broker does allow scalping and is all around ethical broker, so that I can avoid signing up with a wrong broker again.
Thanks a lot.
Not to get off subject, but I am with Oanda and I basically scalp.I have not had a problem yet.Been trading live with them since like the middle of january.Is there something I don’t know about them?I have talked to other traders as well that are usung the same method I use and without problems…???Sorry if I am distracting this thread tymen will erase if it is a problem…just curious…
I agree with you jlmac; I have been live since Jan2 and never had a problem with scalping. They do crack down on automated scalping or so i’ve been told. d