[B]EPISODE 9[/B] >>>
By tymen3 at 2008-10-23
Ahhh! 
The red candle has done a pleasant retreat!!
A new green candle has appeared.
This candle was red for a while and price action was going down again, but not so severely.
But it is now green, and that is good!!
Not only that, but the price action is now just underneath our entry.
[B]Our losses are less!![/B]
[B]EPISODE 10 [/B] >>>
By tymen3 at 2008-10-23
Again we take a zoom out look at the whole trade.
You can see that many hours ago the price action was trending strongly upwards but now has range traded within the Bollinger bands, although there is still and uptrend present.
This present uptrend is indicated by the upward moving mid Bollinger band.
[U]Another important note here[/U]…
The entry line is also on a resistance line.
We may have some trouble breaking thro this line, but if and when we do, the price action should roar upwards!! 
[B]EPISODE 11 [/B] >>>
By tymen3 at 2008-10-23
Yes…Yes…YES!!
The price action has gone thro our entry line.
We hope it roars up now!!
[B]EPISODE 12 [/B] >>>
By tymen3 at 2008-10-23
Yay!!
The price action rises to take out our 1st amount target!!
Profit 10 pips.
[B]We have not set a 2nd target yet because of all the uncertainty.
We will now do this. [/B]
[B]EPISODE 13 [/B] >>>
By tymen3 at 2008-10-23
[U]To set the 2nd profit target, I had to zoom out somewhat.[/U]
You can now see the 2nd amount target.
It is set at 708
It was meant to be 716 (entry + 42 pips).
The risk was also 42 pips.
However, I was a little too much in a hurry, but no matter, we have a profit target.
Also, the PCI has now been set to [U]break even[/U], by being placed right on top of the entry line.
You can see this with the two tags to the same dashed line.
Remember, we [U]entered[/U] with 10 minilots.
Each profit target was set with [U]5 minilots each.[/U]
[B]To make a mistake here would be to enter a trade you do not want.
So be careful with setting entry and target amounts.[/B]
[U]Also remember[/U]…that when setting the stop loss to break even, you are resetting the amount from 10 to 5 minilots.
[U]Again, forgetting to do this, will see you enter an unwanted trade.[/U] :eek: :eek:
[B]EPISODE 14 - FINAL[/B] >>>
By tymen3 at 2008-10-23
[B]Yaaaaaah[/B] :eek: 
The price action went down again fast.
It hit our entry line and thus also our [U]break even[/U] PCI stop loss line!!
So we miss out on the 2nd target profit.
I suppose we could have expected that, considering that the price action was going way beyond the upper Bollinger band.
So we finish with 10 pips profit.
[B]We must now clean the chart and the trade is over.[/B]
[B]STATISTICS[/B]
[U]The Strategy[/U]
Basic level
Multiple amount trade.
1st amount - 5 mini lots.
2nd amount - 5 mini lots.
[U]The trade[/U]
USD/CHF
25 minute candlestick chart.
3 Green Soldiers pattern.
Bollinger bands added.
Program used - GFT Dealbook.
Magnification - 72
Long trade.
[U]Times[/U]
London open.
Traded at…
Perth � 7.00 pm
GMT � 11.00 am.
New York � 7.00 am.
Los Angeles � 4.00 am.
Sydney � 10.00 pm.
[U]The Figures[/U]
Entry - 1.1674
Exit 1 - 1.1688
Exit 2 - 1.708
PCI - 1.1632
1st profit 10 pips.
2nd profit 34 pips.
Total 44 pips.
Reward = 44 pips.
Maximum price action before reversing 1.1697
Maximum profit potential 2nd amount 34 pips.
Maximum profit obtainable 44 pips.
Distance from entry to PCI - 42 pips
Risk 42 pips
Risk/Reward = 42/44 = 1.0
Maximum Risk/Reward = 42/44 = 1.0
Average Risk/Reward expectancy = 1.0
Tymen,
I’m beginning to think that you may actually know what you’re talking about.:p;)
Nice work!
Hey Tymen,
Quick question. From my understanding you’re saying to avoid going any further than 7 candles on the main chart. Is it safe to assume that’s including any time chart?
If I’m on a daily chart, can I assume the enter and exit trades on the 4HR chart over the next 7 days?
Thanks,
Shawn
Thank you for your question Shawn.
The 7 candles in not a hard and fast rule.
Louise Bedford, Australian candlestick trading master, says that the impact of a confirmed candlestick pattern will last approximately one to ten candle periods.
If you are on a daily chart, the pattern impact will then last for approximately one to 7/10 days depending on the strength of the candle pattern.
You should then be able to safely trade within that period.
Remember, however, that there is always the possibility of a loss.
this is great info thanks for the upload
[B]Intermediate trade examples follow now.[/B]
It is Saturday here, and the market is closed.
I will resume Monday.
In the Intermediate trades, the entry uses the [U]Starc bands[/U] in a 5 minute chart.
We then revert back to the [U]main chart[/U] to complete the trade using the Basic level again.
So the difference between the Basic and Intermediate levels is not great.
I know this answer is hidden deep in this thread, but do have the hope that someone might have a quick link to get there.
What are the settings to use for the recommended indicators on Dealbook?
Also, is there a difference between Dinapoli MACD and MACD? If so, which one am I recommended to use?
Keep reading mate, MACD is no longer used.
Im pretty sure the Bollinger Bands are set to default in Dealbook but im not sure what the Starc Bands are set to.
Yes, it is true that the MACD is no longer used.
The Starc bands formula has been modified, but its settings are factor 1 and factor 0.65 if you want to load a second starc bands indicator.
The modified starc bands and all loading instructions are given in the following attachment.
This is also found in complete form in :
If MACD is no longer used, how exactly is the resultant calculated for entry on the 5min chart? I’ve read the guide you provided, thank you very much. But that piece of the puzzle is missing for me.
Since that time, the candlestick method has been fully updated, revised and simplified.
The simplification has been major, with 3 main levels of trading - Basic, Intermediate and Advanced.
As such, the Keltner bands as well as the MACD are now deleted, they are no longer required in the new ultimate method.
The fact that the market is fast moving has been the major factor in the simplification - no complex thinking is now required.
The method, however, remains very successful, possibly more so than before.
Here is all you need to know now…
[B]Go to page 140 on this forum, post #1393 and read or download the PDF file.[/B]
[U]It is the full and final kit to successful candlestick trading at 3 levels.[/U]
Everything you need to know is there.
I have left nothing out.
Thanks for the assistance. And you’re right. That completely simplifies the system.
Is there a Metatrader 4 equivalent of the Extreme Starc? What settings where changed that I might attempt to replicate an MT4 equivalent?
Thanks again.
Reading the e-book it states -
“enter both amounts at least on the .65 lilac dot on the white line.”
How exactly should I interpret that in terms of pips away from the bottom starc band?