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.
This is so true.
As you know, I advocate entering the 2 trading amounts separately, one first, then improving on that entry with the 2nd amount.
If you see the trade going wrong, you can usually see that with only one amount entered.
You can then close the trade much sooner than the stop loss and lose pips only on one amount instead of two.
This thread is great information. Thanks for creating it. I was woundering if there was a PDF version of your āThe joy of candlestick trading part 1ā ?
Hie There Mr Tymenā¦ ive been reading ur thread quite some time but this is my first postā¦ ive been trying to trade ur basic n it work well but when trying on intermediate or advanced,it ate my profit backā¦ By the way,y the thread suddenly went quiet?
This thread went quiet while I was posting that joke thread about the weather - a celebration of 2000 posts.
But it is now time to continue.
Bear with me.
I exceeded my broadband download limit this month because I was doing extensive research on the latest findings regarding the search for Noahās Ark on Mount Ararat.
So I have been shaped for a few days.
I will start again as soon as my new monthly qota starts again very soon.
sureā¦ i will wait for uā¦ btw,did u see any setup todae on gbp/usd going long? i tried to capture the picture of the chart but im not quite sure how to go aboutā¦ aniwae,im using dealbook too as u recommendedā¦ ā¦ what i can say is on 25,in at 1010hrs,theres a morning star but 3rd candle is a doji,n the 4th candle start with a sudden shoot for longā¦thought of entering the 4th candle,but what made me thinkin was the 3rd candle is a dojiā¦ aniwae,i first look at daily trend to find out whether to go long or shortā¦ what u think?
Not trying to get off topic, but was there a recent finding on the subject??
I teach an Intro. to Religious Studies class at my local community college and if something happened Iād like to know. I checked google but nothing came up.
The Univ. of Hong Kong team that found the piece of petrified wood in 2007 is the last news I heard about.
Sorry, but I had to ask. You guys can get back to forex discussions now!!
Type into google ānoahās ark search - mount araratā
Also type āgenesis filesā
A whole heap of stuff will come up.
In your summer 2009 (July, August), an expedition is going up there with ice melting equipment following a reliable lead from a local lad.
The Kurds have had war there and the area is now also covered with rocks from an avalanche.
They are going to burrow in and see what they can find.
I will keep you informed.
Now to get back to topic - re post from [B]partofit[/B].
Firstly, when typing a long post with stuff such as your post, try to put spaces between the sentences.
It makes your post much easier to read.
To get a picture of your chart, press āprint screenā and paste into Microsoft Paint.
From there open a new file in My Documents and send the picture to that file.
Open google and type āPhotobucket - video and image hostingā
When you have that website, it will tell you how to load the picture from your file into Photobucket.
Once loaded, you will be able to copy/paste it straight into your forum posts.
Much as I tried to find your pattern on the 25 minute chart, I could not.
A chart will definitely be needed.
Your time - 1010 hrs - means nothing to me since I am in another time zone.
However, I will say thisā¦
I am reluctant to trade morning stars.
Much better to trade morning doji stars.
The 1st candle should be red.
The 2nd a doji.
The 3rd a green candle.
If it does not fit this definition, you are playing with fire.
I have always saidā¦
Go for quality patterns only.
Further, they need to be seated on the Bollinger bands.
A morning doji star needs to be seated on the lower Bollinger band.
tymen i guess i got one problem or maybe twoā¦ i cant find the print screenā¦ one more thing, how do i actually place a stop loss n take profit?? i tried clicking or the deal ticket but its not the same as ursā¦
After pressing print screen, you open Microsoft Paint. (start/all programs/accessories/paint.)
When in paint, click edit/paste.
The picture you screen printed will come up.
For setting a stop loss, since you use Dealbook like I doā¦
Open ānew orderā and go from there.
Or
Right/click and click the stop or limit choice and go from there.
[U]Take profit is easy.[/U]
When you feel you have enough pips, (end of trade) simply click the Direct Deal Ticket order (buy or sell) and set the correct lots.
