I’m beginning to think I might be approaching this “spread” kick that I’m on backwards. Maybe I should study the candlestick patterns and see how they relate to the pip spreads. Either way, I’ll get there.
About the black charts. Are some of you printing out these posts? I can change to white background. Sorry, just didn’t realize.
I have said this before.
There is no doubt that black background charts look very sexy.
You can have all sorts of bright colours on it and it looks like an astronomy lesson.
Very pretty indeed.
However, I have done experiments with the Guppy multiple moving average with bar charts both black and white backgrounds.
When looking at the fine price detail, it became clear that a white background definitely has higher resolution and, therefore, the price bars were just that little bit clearer to see.
The difference is miniscule but, nevertheless, I think it is important.
And yes, for printing, a white background is a must.
Now, next week I hope to get this show back on the road.
I have purchased and installed my new printer/scanner/copier and now will get accustomed to it.
Last week, I electronically wired an on/off switch into my broadband modem.
A good modem but no switch!!
What - to save manufacturing costs!! 
Bah - anyway, its great to have the switch right on top so that I can just hit it and the modem switches on. 
So a few necessary distractions, now a chance to resume syllabus. 
Great to see Part II of this thread. I’ve been following your thread and know that you also are trading Austrailian Stocks and was profitable. I was wondering if you still profiting in this volatile state of stocks trading. Here in the U.S. has been sinking tremendously as you probabaly already know. I do hear some good things about Australia though. Although I am not currently trading in Stocks or Forex. I did go live and skip demo trading but i busted my account so I’m back on babypips.
To [B]Shortydumdum[/B]
No, I am out of the Stock market right now - although gold shares are very interesting right now as I post.
But you really have to know what you are doing because they are up and down like a yo yo.
Forex trading makes for a more consistant income because you can trade both long and short.
In Australia, you can only trade stocks long.
So when they go down, it is time out.
Good to see you back here.
Just goes to show, that I never know who is reading this thread!! 
Is that a joke?
No [B]melisky[/B], you should be able to see that if you read the relevant posts properly!!
The poster,chrispej has been practising for 6 months.
He then writes in post number #187 page 19…
I’m a little over six months into Forex trading with demo accounts. Following the techniques in this thread, I managed to obtain a 43 pip profit in four trades in one day.
Oh… It all make sence now…
I thought 43pips in 6 months…
Well, 43pips in one single day it’s more than pretty good!
I have just spent the best part of a couple of weeks reading through the:“The Joy of Candelstick trading -part1” entire thread and I must say it has been excellent. A huge thanks to you Tymen for the effort that you have put in to producing these posts and instructions.I’ll read the Part2 as soon as possible.
I’m a newbie and I know about forex for the begining of this year.In the first month I was reading and watching the chart almost 8-10 hour for day,but in the last months I didn’t have this time because of my study. I have failed on oane of my examen because of this:(. I’m studying ingenierin on Electronic and Telecommunication .I’ll graduate in this summer:cool:
Sorry about my english but is not my native language,I’m from Eastern Europe
cheers everyone!!!
Soldier on [B]Triger88990[/B].
But spend the correct amount of time studying for your engineering qualifications.
This is more important to you now.
Forex can wait.
In the meantime, welcome to this thread.
Tymen, just to clarify, were you trying to answer my question to Chrispej about which pattern he traded?
If so then I’m confused. For an evening star to qualify your kind of trade, shouldn’t the pattern be on the upper Bollinger band with some part of it piercing through?
Also, if that is true, then Chrispej is trading solely on the M5 chart. Is it safe to do that? I’ve never heard of this kind of thing mentioned before. 
Yes Gold does seem like a safe bet but I’m seriously thinking about Platinum as i believe it is undervalued at this point and time. It is irrelevant from your thread but I’m sorry i have no comment about Forex/your trading strategy at this time.
No, I was looking at his charts independently of your question.
If so then I’m confused. For an evening star to qualify your kind of trade, shouldn’t the pattern be on the upper Bollinger band with some part of it piercing through?
Absolutely correct!!
Stay on the right track!!
[B]Chrispej [/B]never told us which main chart he was using, nor did he tell us that he was observing a pattern on such a main chart.
Also, if that is true, then Chrispej is trading solely on the M5 chart. Is it safe to do that? I’ve never heard of this kind of thing mentioned before.
According to what I see, unless [B]Chrispej [/B]posts in an tells us otherwise, he is trading solely off the 5 minute chart - [U]which is a no no[/U]!! :eek:
There has to be a trend in existence for you to trade successfully on the 5 minute chart.
Such a trend can only be discerned from the main chart.
And the main chart only shows such a trend if you see a candlestick pattern correctly placed.
Chrispej was looking for a cue to start the trade on the 5M chart.
He used something that we do not know about.
I noticed an evening star pattern on the 5M chart which would have provided a better cue if you really need one without the main chart.
[U]But the correct way to trade this thing is…[/U]
A short candlestick pattern is discovered on the upper BB on the main chart.
According to the pattern, we trade short.
We turn to the 5 minute chart and the Starc bands.
We wait until the Starc bands go down. (for short).
We then enter short at the mid Starc band and let her rip!!
Hope this helps.
Good luck trading platinum!!
We are about ready to take off on this thread again.
Simplification work now finished!!
Yes Tymen, I was trading off the 5M chart. I would also toggle between the 30M and 5M chart. What I was trying to accomplish was to see the 5M price action that you really can’t see on the 30M chart. My goal is to trade off the 30M chart. But hey, if you’re selling me a car that does 0 to 60 in a minute, I’m gonna look under the hood.
After staring at the 5M charts for hours and hours, I find that it doesn’t sit quite well with the 30M chart quite often. I don’t have a good confidence level with the 5M chart. Too often the 5M is indicating a downtrend and the 30M is telling me we’re going up and vice versa. It seems like the 30M chart is showing the usual 15 to 25 pip spread and the 5M in bouncing all over the place. We’re going up, no wait, down, no make that up again. There are occasions where the 5M chart does shows strong price direction though.
Again, I am still learning and don’t claim to be any type of expert. Maybe something still needs to ‘click’.
Maestro, please continue to enlighten us!
To [B]Chrispej[/B] :
If you do not like the 5 minute chart with the Starc bands, you can always use the Basic/Intermediate levels.
They are designed to work with only the main chart.
[B]The time has now come to restart this thread.[/B]
I have had plenty of time to sort out preferences in trading styles.
I have also greatly simplified the system for starc bands.
So now I give the new simplified trading rules for use of the starc bands in the Advanced level.
[B]Advanced Level - Starc bands.[/B]
[B]There are two ways to trade this method.[/B]
Each is simple.
The [U]original [/U]starc bands are used.
The second set of starc bands are no longer set at 0.45 but rather at 0.7.
[B]So here now are the simplified rules…[/B]
[B]1)[/B] Always trade [U]only in the direction [/U]of the trend given by the candlestick pattern in the [U]main chart[/U].
[B]2a)[/B] We enter at one extreme (0.7 Starc band or better) then exit at the [U]opposite [/U]band (full upper for long, full lower for short) on the 5 minute chart.
The [U]direction [/U]the starc bands are moving in the 5 minute chart is [U]irrelevant[/U].
[B]OR[/B]
[B]2b)[/B] We can also, if you prefer, enter at the mid band of the Starc bands.
Exit again as before.
Again, the [U]direction [/U]the starc bands are moving in the 5 minute chart is [U]irrelevant[/U].
[B]3)[/B] Sometimes the Starc bands go [U]extreme up or extreme down.[/U]
In that case we hold off the exit and collect as much profit as possible before the bands finally level out.
That is the end of the rules.
Assuming we are using 2 amounts, it is possible to enter the 1st amount at the specified points and improve on our entry with the 2nd amount entry.
That is about all there is to it.
Pictorial examples will now follow.
Here is a typical path that starc bands may follow between the Bollinger bands.
The blue lines are the Bollinger bands.
The pink area are the Starc bands >>>
By tymen1 at 2009-03-29