I have had plenty of opportunities to post more example trades.
There have been a great many of them since I last posted.
However, domestic issues have kept me away.
I will see what I can do on Monday, because we need these example trades to keep going.
Two more of Basic then I will go on to Intermediate.
Good day to all,
I have just spent the best part of a couple of weeks reading through this entire thread and I must say it has been excellent. A huge thanks to you Tymen for the effort and dedication that you have put in to producing these posts and instructions. A big thanks to all the other contributers as well.
I read Steve Nison’s book earler this year and I recently re-read it through again to help some of his teachings sink in. Before reading this thread I had never heard of starc bands so that has been a great learning curve for me.
I look fwd to continue to follow this thread in the future. Once again, great work Tymen.
Best Regards
boca
Hello tymen1,
I’m new at forex, still learning the basics, but ready to go on a demo account. what do you think about the GFT platform, is it good and worth trading in this platform or do you have a better suggetion???
Thank you for the support you give…
Welcome to this thread Pip Scalper 
From what I have learnt and what I know, I believe that the GFT platform is the best out there.
I do recommend it strongly.
However, I do not recommend signing up with GFT direct.
A lot of people seem to complain about their somewhat intrusive service.
My recommendation is this…
Call or email Kinetic Securities of Sydney, Australia.
They are a full service broker for all shares and are an introducing broker for GFT.
They will give you the demo platform indefinitely instead of only 30 days with GFT direct.
Also you get to keep your funds in your local Morgan Chase bank - no need to send your money overseas.
Contact Jay Pace and tell him Tymen sent you.
You will get excellent service (Australian style!!)
Their website is Kinetic Securities.com.au
Google it and you will not be disappointed.
I get no incentives or bonuses for recommending them, although they do send me their daily “analyst arena” newsletter.
Thank you for the kind words, [B]Bocajunior [/B]and welcome to this thread.
Now its back to those trades. 
I can also vouch for there excellent service to!
OK, here is a trade I just grabbed a couple of hours ago.
The trade is EUR/USD on a 40 minute chart.
Basic level.
I spotted this evening star between dometsic issues. Because of that I could not enter immediately.
However, as soon as the domestics were under control I jumped in.
[B]
Here is the trade :[/B]
[B]Saga 1 [/B] >>>
By tymen3 at 2008-10-20
The chart shows the price action steadily rising to culminate in an evening star. The Bollinger bands were bending inwards and showing no signs of breaking out (trumpeting).
The price action on the entry candle (going short) had already dropped a little.
I decided I would enter short if the price action came back to entry level.
[U]It did[/U], and I entered [U]short, 2 amounts[/U] (1 standard lot or 10 mini lots) at 1 pip above the entry point. 
The setting was 481 (1.3481)
The entry is the solid line.
I set the PCI quickly after. (I should have set it earlier but domestics kept me off the track).
The PCI was set not at the top of the wick (too long) but rather at a half way point.
You can see it as the dashed line above the solid line and cutting the star wick in half.
The setting was 520 (1.3520)
[B]Saga 2 [/B] >>>
By tymen3 at 2008-10-20
In this chart I set the 1st amount profit of 10 pips plus 3 pips spread.
Since the entry was at 481, this 1st exit is 13 pips lower at 468, but in a hurry I set it at 467.
Thats 14 pips lower - No problems here. 
Note that when you set these profit targets you [U]must use the correct amount of lots.[/U]
My 2 amounts was 10 mini lots, that is 5 mini lots for each amount.
Therefore, the entry was 10 minilots.
The PCI was 10 minilots.
The 1st amounts target was 5 minilots.
…and the 2nd amount target is 5 mini lots.
[B]Do not make blunders with these amounts!!
Otherwise you will find yourself entering a trade you did not want!![/B] :mad: :mad:
I also did a little program setting change.
The tags on the lines are not easy to see, especially if they are green.
So I changed their colours to red or blue.
This makes them easier to see.
At this point the trade is going against us.
We are looking for candles to go red (short - down), not green (long - up).
[B]Saga 3[/B] >>>
By tymen3 at 2008-10-20
In this chart we are looking to set the [U]2nd amount[/U] target profit.
So I used a little ingenuity.
I used the Fibonacci tool to set the Fibonacci lines.
You can see them on the chart.
The purple arrows show the end points.
Now I set the [U]2nd amount[/U] target profit at the lowest of the Fibonacci lines as indicated.
You will see it on the next chart.
Meanwhile, the trade is still going against us.
[B]Saga 4[/B] >>>
By tymen3 at 2008-10-20
Here we can see the 2nd amount profit target entered at that lowest Fibonacci line.
The setting is 424 (1.3424)
The trade is now going our way!!
A good sign.
So now we have the following settings :
Entry short - 2 amounts (10 minilots) at 481
PCI - 2 amounts (10 minilots) at 520
1st amount target - 1 amount (5 minilots) at 467
2nd amount target - 1 amount (5 minilots) at 424
The [U]risk [/U]is the distance from the entry to the PCI = 39 pips
The reward is the 1st amount profit of 10 pips + distance from entry to 2nd amount target which is 43 pips.
Total reward = 53 pips.
So the potential reward of 53 pips is greater than the risk of 39 pips.
[B]Saga 5[/B] >>>
By tymen3 at 2008-10-20
Having now settled into the trade, we draw a trend line as shown.
We are going against this trend in order to secure our profits but the Bollinger bands are still curving inwards so we need not fear.
Also, our stop loss is quite far away from the price action so we again have little to fear.
[B]Saga 6[/B] >>>
By tymen3 at 2008-10-20
Our price action has gone over to a green candle again!! :mad: :mad:
If you were to look at a much shorter time frame (we are on 40 minutes) you would see that the price action at present is range trading.
We are really waiting for something to happen.
[B]Saga 7[/B] >>>
By tymen3 at 2008-10-20
In this chart we see that we are on a new candle and it has gone green again!! :mad: :mad:
Still range trading.
But we would feel better if the price action range traded with red candles!!
Thank you for your advise, I’ve read about their “pressure service”, and thank you for your quick response. Good luck to you 2.
[B]Saga 8[/B] >>>
By tymen3 at 2008-10-20
Oh horror!! :eek:
The green candle is growing.
And so is our loss figure in the floating profit/loss window in the top right hand corner!! :mad: :mad:
[B]Saga 9[/B] >>>
By tymen3 at 2008-10-20
Here we are at the 3rd candle out from the trade.
Note the long upper wick of this red candle.
While I was watching, the candle first became green (horror) and was green close to the upper Bollinger band and rising. (hence the wick).
It was starting to look like a loss trade with the profit/loss window showing a huge loss. :eek: :mad: :eek:
But then the price action changed and the price went down and the candle became red and now the profit/loss window shows a few bucks profit.
[B]Saga 10 [/B] >>>
By tymen3 at 2008-10-20
We are now on the 4th candle out from the entry and this is a much nicer senario.
The red candle looks like it is about to go thro the profit target.
It must go thro the line by three pips (the spread) in order for the trade to be completed.
You can see that we got wery close to profit in the 1st and 2nd candles out from the pattern.
However, the price action here was teasing, touching the line but not going thro the line by the required 3 pips.
[B]STOP[/B]
Will this red candle go thro the target line and give us our first profit?
Since we have so much range trading, can we expect the 2nd profit to really occur?
Or is this going to backfire and become a loser trade?
Maybe we will get one profit only.
[B]
Find out tomorrow!![/B]
tymen,
I just started reading this thread and am actually only up to page 12 but I wanted to jump up here and tell you how grateful I am for your teachings!
Thank you [B]Mdbarcus[/B].
Welcome to this thread.
Enjoy and learn.
The highlight will be when you get to post #1393 on page 140.