This is a really solid system but it took me a bit to wrap my head around all the rules and components. It isn’t that complicated or anything, but you have to stick to some of the BB rules or you can get faked out.
I would suggest (if you are really serious and dedicated to learn about this method) going through the entire first candlestick post and then this entire thread from beginning. If you don’t have time for the first that is probably ok but it gives insight into how this has progressed. The system has changed since the beginning so make sure you note the changes.
Tymen has posted a TON of excellent charts illustrating exactly how this works so really it just takes some dedication to study them.
For those who wish to learn this candlestick method, I would suggest learning what is in the initial PDF file then paying close attention to what is happening now on this thread.
The first thread can be read from page 142 onwards to the end.
I will do my best to edit the 2nd PDF file to come so as to make it much easier to follow.
All the latest modifications, of course, will be in it.
I hate to sound like a nub but is anyone willing to simplify this for me, with all due respect to tymen and I appreciate him posting this I had a hard time understanding the instructions.
and I dont want to hijack this thread with beginner questions so if anyone is willing to help me out I can pm them or email them, im really interested to learn this method
I just want to stop by and mention that although I don’t exactly use your system (have picked some principles and tips of course), I’ve had no problem reading and understanding the pdf and the excellent methods you teach there.
I don’t think there’s anything that’s unclear in your pdf, quite the opposite actually. It shows that it’s a retired teacher’s work
I didn’t had any problem in understanding your method. You explained it very well!
But as I was a bit confused after reading only the PDF file, I think I can answer to the question… Hoping to be helpful…
Some sketches, and particularly the one of how to trade with starc bands, look a bit [I]cryptic[/I] when you see it for the first time… But then only one practical example is enough to understand it.
As said before, I think that one has problems in understanding the PDF as long as it is considered the full-manual of the method. The example trades you published here are vital to understand it!
Very sorry for your poor health. Your words have the feel of wisdom. You may find some comfort in the bible, the book of John chapter 14-17. Sincerly, fellow journeyman.
[B]I have worked out that there are 3 different starc band strategies to use in the Advanced level.[/B]
Starc bands level - wait till price hits the relevant 0.7 line.
Enter 1 amount, improve entry with a 2nd amount.
Starc bands going against you - enter at the relevant 0.7 line then improve on that entry with the 2nd amount.
In this case, there will be a lot of room for improvement with the 2nd amount.
Starc bands going your way.
In this case price action is going on a roll uphill or downhill.
Enter at the mid starc band.
It is unlikely you will improve on the entry so you can enter both amounts at once.
This is only a quick basic post.
The full details and diagrams of the 3 approaches will appear in the PDF file.
Bacause of the wave nature of the starc bands, it is possible to do a very poor entry and still come out with a profit.
This is done by waiting - ages!!
[B]It is worth the patience to get a good entry.[/B]
There a 2 senarios - bad trade and good trade.
[B]Bad trade[/B] - [U]rush[/U] to enter then [U]wait ages [/U]as the price action goes against you then finally goes in your favour to get a profit.
[B]Good trade[/B] - [U]wait ages[/U] to enter (properly) then collect your profit in [U]a rush[/U] (sometimes in 1 candle).
I shall post some examples of the 3 starc band stategies.
[B]
After that, I think it is time to develop the PDF file.[/B]
Just wanted to drop by this thread and say thank you. I’m still working through the first candlestick thread and have gotten through most of it. I figure I’ll be following part 2 once I get familiar with the first thread.
I’ve opened a demo acct on GFT to follow along and so far have been happy since even with my limited knowledge I manage to have good results. I appreciate your dedication and hard work.
Anyhow just wanted to say hi and thanks again, hope to be caught up in a few days.
I sent a message to your broker friends over at Kinetic. I’m in the U.S., so I’m not sure if they would be a good fit, but it is worth finding out more. I will paste a message I wrote in the GFT Demo thread:
Tymen,
This is my first post, however I have read through your candlestick method. Thank you brother for your dedication and willingness to give of your time and knowledge to others. I have traded for a couple years mainly using Heiken Ashi Smoothed as my focus indicator. I have had good success, and I’ve always used cadlestick trading because I believe it does show the “feel” of the market. I look forward to posting and reading along with you in the near future.
