Thank you for your private message.
It has been well received.
Welcome to this thread!!
You will have not trouble with Kinetic - quite a few Americans have contacted them.
The only snag is the timezones!!
I wish you all the best.
Thank you for your private message.
It has been well received.
Welcome to this thread!!
You will have not trouble with Kinetic - quite a few Americans have contacted them.
The only snag is the timezones!!
I wish you all the best.
I now intend to take a short break from here while I post the finest method of trading ever seen on this forum!!
This will not take too long.
After that, I will come back here and give examples of the 3 main strategies used in dealing with the starc bands.
Then I will finally complete the whole candlestick work by setting up the final PDF file.
I can set up the material in Microsoft Word.
I may need help converting it to PDF.
Last year, SimplexX, a computer programmer and poster on this thread, did it for me.
Hello Tymen,
First I just wanted to say thank you for your contributions to this forum. The first thread on candlesticks was very helpful and I definitely learned a great deal from it. I was just wondering if you have experienced alot more retrace first trades being that thats what the whole advanced section is about? Because I have seen some examples and I have seen some real trades where the first level would have done better, but Iām assuming that they donāt occur enough to be more profitable than the advanced method.
Welcome to this thread [B]lldocll[/B]
I was just wondering if you have experienced alot more retrace first trades being that thats what the whole advanced section is about?
Yes, definitely a lot more retrace first trades.
In a ratio of something like 5:1 at a guess.
Yes, the Advanced level specially tackles these retrace trades whereas the Basic level can do nothing about them.
Many times the Advanced level will take quite a few pips out of these retrace first trades whereas the Basic level will do nothing for you - even a loss.
Because I have seen some examples and I have seen some real trades where the first level would have done better, but Iām assuming that they donāt occur enough to be more profitable than the advanced method.
Sometimes that can happen.
If the trade is a pips first, the Basic level works immediately to make a profit.
In the Advanced level, you are busy looking for the price action to reach the 0.7 line of the starc bands.
In a pips first trade, this never happens.
So you enter in frustration at a reduced level, and make less pips.
[B]However, my 3 starc band strategies is designed to cure all that.[/B]
[B]The Advanced level will then be able to handle anything!![/B]
Thats a pretty good ratio and from all the observing I have been doing lately it sounds pretty accurate. I have only been doing the advanced method mainly because it allows for the stop loss to be shortened when a retrace does happen. Everything about this strategy is so simple yet very effective and quit ingenious if i might add. It is very sound as it is, but if you say you can improve it by all means I and im sure others will be anxiously waiting for them. Thank you again.
P.s. I actually had my best week implementing this strategy, and only looking for two patterns(morning and evening stars).
Iām no computer programmer, but if you need help with the pdf conversion Iām willing to give it a try.
Thank you, [B]lldocll [/B], for the compliments!!
Congratulations on your good trades!!
Soldier on!!
Thank you [B]o990l6mh [/B], for your offer of help.
I will call on you when the work is ready to be converted to PDF.
Just completed a very fine EUR/USD evening star trade about 10 minutes ago.
Target profit came in perfect.
Then just when finished, the 5 minute feed went haywire.
Reloaded it a few times, no change.
The problem must be at the GFT end.
Tymen,
If you go to Google and search for āconvert to pdfā you will see several sites that will convert a Word document to pdf for you. Hope that helps!
DrLogik
Only drawback is that some of those sites put their logos all over.
OpenOffice - an open source alternative to MS Office has the pdf function built in. Very neat.
Ahhh yes, I think I have seen that before - not very useful, you have to pay to have the logos removed!!
I will call you for the MS Office alternative when I am ready.
First to post that other thing, then it is back here with all due diligence to bring this thread to its final end.
Good Morning Tymen,
Adobe.com allows you to convert up to 5 documents to Pdf FREE for each email address you have registered on their trial subscription at Create Adobeļæ½ PDF Online: Easily convert and create PDF documents
Bank
Thank you for that [B]BankDaPips[/B].
This might just be the way to go.
[B]Here is a little advanced thinking on the Advanced level!![/B]
The chart below is a 5 minute starc band chart of USD/CHF >>>
By tymen1 at 2009-05-13
The price action is already a little moved on from a powerful evening star pattern.
You turn on your computer and discover the chart above.
[B]Would you enter short?[/B]
Note how the Bollinger bands are both curving in.
[B]Answerā¦NO!![/B] >>>
By tymen1 at 2009-05-13
The price action suddenly goes against you (green candles).
The Bollinger bands curving in serve as a warning!!
This knowledge comes only with practise and experience.
[U]Never enter a trade halfway.[/U]
You do not know when it is the end of the trade!!
When you have done many starc band trades, you will get a natural feel for them and their interaction with the Bollinger Bands.
After a while, you will be able to correctly predict when the Starc bands are about to turn.
You will then be able to enter and exit with much more confidence.
[B]It just takes practise!! [/B] [B]
Practise predicting the turns on a demo!![/B]
Hi Tymen,
For creating PDF files I can suggest you a very nice tool, PDF Creator.
It is absolutely free and open source: so no ads, no logos, no subscription etc. (just de-select the āinstall Yahoo! toolbarā during installation).
It is not an application, it acts like a printer: so, from any application (word, explorer etc.), you can just select āprintā and select āPDF creatorā as the printerā¦ and itās done!
Here is the link:
pdfforge.org/products/pdfcreator
Bye
Tymen,
Any update on the PDF or word document?
Thanks
PS Just ignore those negitive comments on other threads
Coming shortly.
But first, a whole lot of starc band examples.
Hi Tymen,
Just a doubt about stop loss in advanced methodā¦
(English is not my language, but Iāll try to be as clear as I can).
In Advanced Method, PCI stop loss (3 pips from the end of the pattern) is usually quite far away from the trading position, and it is very uncommon to get there. This because, with STARC bands, we have a good control over the situation.
It happens anyway (at least it happens to me) that sometimes the trend turns against youā¦ In this situation the method rule says ļæ½the trade ends when the profit or the stop loss are reachedļæ½.
But, after a few tests, I realised that, using STARC bands, you can clearly understand when a trade has irrevocably changed behaviourā¦
When you entered it was supposed to be a ļæ½retrace firstļæ½, but, after one or two tiny candle in the good direction, it turns clearly in the wrong wayā¦
You are aware of the bad situation, but, to follow the rules, you just seat down and wait to loose at once the same amount of maybe 3 good trades at the PCI stop loss.
Let say I loose 1 trade every 5ā¦ +4 -3 = +1 Positive, but quite a poor resultā¦
So I tried with a closer stop loss, and, precisely, I placed the PCI stop loss at the same amount of pips of my estimated take profit (so usually the width of the STARC bands, often about 12-15 pips).
After 3 days of tests it seams a good idea: it doesnāt seams that I missed any winning opportunities because of the stop lossā¦ and the balance is quite better now: +4 -1 = +3
So, can we figure to use different stop loss rules for advanced method?
Iām sorry Iāve no screen-shots as exampleā¦ And 3 days of tests are definitely not enough.
But I wanted to submit these considerations to your opinion as soon as possibleā¦
Bye