Hi comfblue
Adherence to the method would indicate an exit when spiked thro the BB
best regards
ok, tnx. slowly but safely i’m learning…
most welcome, always better to ask a question to clarify anything you unsure of
best regards
Welcome all Newbies !
Looking forward to your trade charts so we can all learn together from each other.
Regards,
Muthu.
Chennai.
India.
tnx to u 2.
any way, today nothing to learn…no patterns today:(. i took just one trade that i actually shouldn’t have :mad:(starc bands were ok but mid BB not), some how i was lucky to exit with a couple of pips:D.
hope for better for all of us.
Definitely not a good day either for me as well. Yes just be patient and spot your patterns and you are in for a good trade.
Regards,
Muthu.
[U]With regard to Bollinger bands not going in the direction of the trade[/U]:
On P16 of the pdf
“In this case, we have not one, but two patterns following each other separated by several candles.
The first pattern causes an interruption to the walking of the BB and price action goes level. The second pattern then causes the price action to go inwards towards the centre, that is, the mid BB.
Therefore, in cases where the outer BB are expanding strongly, the trade can only be safely taken after a second pattern.”
[I][I][I][I]
[I][I][/I][I][I][I][I]So even if the BB is going in the opposite direction can we safely take the trade if there is a second confirming candle pattern?[/I][/I][/I][/I][/I][/I][/I][/I]
[/I]
Re: “separated by several candles” [I]Do the two patterns need to be separated by several candles? Is this a rule? If so, how many candles?[/I]
Thanks
Date - 2009.11.03 (tuesday)
Tymens method is excellent
I am using IBFX mt4 demo account
I didnt take any screenshots
I took 4 trades on the above date, 3 winning trades - 1 losing trade ( because of my careless mistake )
[U][B]Loss trade[/B][/U]
[B]usdjpy[/B]
time
open - 05:17 ( displayed in “Account history” of IBFX trading platform)
entry - 90.275
exit - 90.363
total pips lost = 88
[U][B]Winning trades[/B][/U]
[B]gbpusd[/B]
time - 00:58
entry - 1.63928
exit - 1.63690
total pips = 238
[B]eurgbp[/B]
time - 09:41
entry - 0.90275
exit - 0.90120
total pips = 155
[B]eurusd[/B]
time - 12:47
entry - 1.46556
exit - 1.47000
total pips = 444
total pips earned on 2009.11.03 = 837 - 88 = [B]749[/B]
any comments pls
with regards
immanuel
Can you post some charts on those figures? I don’t see where a Tymen1 entry would make sense on any of those pairs listed at the times they were listed at. Even if Tymen1’s method did allow those entries, according to the you would have exited [B]much[/B] earlier than the massive pip gains here.
I think the net gain here is [B]74.9 pips[/B] (great profit btw) and not 749, since he’s using a broker with five decimals, so each tick is a pippette and not a pip, here’s where I think relies the confussion.
444 pips in a single day in the eur/usd is way beyond its daily average range (wich is possible to get if you catch every move up and down of course) but I haven’t seen such an achievement yet.
44.4 pips on eur/usd makes much more sense.
My .002 
Yea I figured that, but I still don’t see any good entry points 
Well :rolleyes:…
I leave the entries thing to the experts, lol.
I don’t remember - was there any consensus as to whether three inside up/three outside up and their respective bearish counterpart patterns were reliable or not?
edit: Now that I look at it, they are just the three-candle versions of long and short engulfing patterns, so I’m going to assume that yes, they are reliable, but I could miss out on a full candle’s worth of pips if I use them.
Dodge and wrtm 19
i have attached my screenshot of my account history
pls help me too understand the mistake i have done to improve my trading knowledge
i didnt take any screenshots of the above trade
with regards
immanuel
the image which i posted was not clear
how to get a clear image ?
regards
immanuel
Hi Sijeeva
what TF 's were you seein trading patterns on ? are your times gmt ?
Hi,
I was wondering…yesterday i took a trade, it was a huge mistake to take it but a good lesson in the other hand.
In the method we place the stop loss a couple of pips over the extreme wick.
most of the times its far over 30 pips of loss. when sometimes the profit will be just about 10 pips (if the starc bands are level).
should i take it in account? for example making sure that it won’t be over 1-2% of my account balance?
regards
ilan
hi ilan
IMHO strict money management is one of the keys to successful trading
best regards
I know. what i’m asking is if 2% is ok or too much. and second is whether u caclculate the # of lots each time according to the stop loss required for the specific trade?
Depending on your trading strategy 2% is an acceptable risk. However, if you are using a multiple entry strat then your first entry will have to be adjusted so that on subsequent entry your total risk is still no more than 2% of your account. Lot size will therefore depend on your risk ie. stop loss