Tymen, you dont think I am doing this just for kicks, do you?
Jay sent me the following email just recently…
Good morning Tymen,
Am going on leave for two weeks as of 4th of July till the 21st of July.
If you have any requests for demo accounts during this period. I would recommend forwarding the below email to any potential new demo trades.
([B]email deleted because of Admin requirements - link violation[/B])We are currently in the process of completing our very own FX website, www…([B]deleted because of Admin requirements - link violation[/B])
We will soon be offering MT4 Platforms and many more.
Thank you for your ongoing support.
regards,
Kinetic
SecuritiesJay Pace
Private Client Advisor
Kinetic Securities
- ([B] Link violations deleted[/B])
I would suggest grabbing hold of Jay promptly to avoid waiting.
The deleted email is just the GFT website and they give the demo only 30 days.
Alternatively, if you open a GFT account and deposit a required sum of money, with a view to going live, they should give the demo indefinitely.
The only snag here is that a live account left untraded for 45 days attracts a “no activity fee”.
So GFT is going MT4 now too?, or additional to there own system?
“”""“The only snag here is that a live account left untraded for 45 days attracts a “no activity fee”.”""""" :eek::eek:
No not GFT!!
Kinetic Securities of Sydney, Australia is a multiple broker that does stocks, futures, forex etc.
They are an introducing broker for GFT and 3 other forex brokers.
It is Kinetic Securities that will be offering the MT4 program - I assume this will be with linked brokers.
tymen,could u pls look into my post chart? n whens ur next post?? im anxiously waiting… every hour logging in to see if u post next trade or practice or some exercise…
[B]Next trade here right now.[/B]
This one contains something of everything, so this is an excellent learning trade for the Advanced level.
The trade is a 30 minute main chart of AUD/USD, spread = 3 pips.
[B]The trades starts rolling next post.[/B]
CHART 1
This is the first main chart.
We are looking at trading the last 2 candles, (green and red) which comprise a powerful short engulfing pattern.
The upper BB has curved inwards, but the mid BB is rising steeply., telling us that the trend is upwards.
Indeed, the Guppy Multiple Moving Average, one of the best trend indicators, shows that the price action here is on a powerful uptrend.
This indicates that we really should not take this trade.
But I will take it for the purposes of teaching.
So here is the trade.
The entry candle has already started >>>
CHART 2
Here is the 5 minute starc band chart >>>
You can see here that the mid BB is very much in our favour, since we are going short.
The starc bands are also in our favour, going down very steeply.
An entry at the upper 0.7 line seem a hopeless wish here so I entered the 1st amount where you can see at the top of the green candle.
CHART 3
Further progress >>>
I was fortunate enough to be able to successfully screen print the 2nd amount entry.
It is the blue dashed line.
It is effectively placed at the mid starc band.
It seems that the price will go no higher, considering that the mid BB is going down and the starc bands are going down steeply.
CHART 5
Here is the main chart again >>>
We see the engulfing pattern and the green entry candle (last candle).
Notice how our short entry is well up the length of the green candle and not at the bottom.
We have a good entry!! 
CHART 6
The 5 minute chart again >>>
The price went against us rapidly, but has now gone down sharply, putting us in good profit.
I have traded here using 5 minilots per amount.
2 amounts = 1 standard lot traded.
I am tempted to exit here right now because I know about that mid BB on the main chart and the trend going steeply upwards.
That is why you can see the Direct Deal Ticket with Buying of 10 minilots (1 standard lot) to close the trade.
However, I shall stick with the rules of closing at the bottom starc band.
We shall see what happens.
CHART 7
5 min >>>
The price action has gone up again, going right up to touching our entry point and putting the trade against us.
But note that the mid BB here is still going down ever so slightly.
The starc bands are now turning up.
CHART 8
Ah!!
That’s better!! >>>
Here the price action, after having risen thro our entry line, has now gone down again, giving us profit.
Note also, that the mid BB is going down again and the starc bands are going down steeply again.
Time to wait for a further price drop and go thro the bottom starc band.
CHART 9
Hmmmmm. >>>
The price action has gone up again.
Nothing to do but wait.
Note that the mid BB is still goind down very slightly.
CHART 10
Horror!! :eek: :eek: >>>
Here the trade has gone dramatically against us and the starc bands are going up steeply.
The mid BB is only slightly up, giving us encouragement!!
What shall we do?
Our PCI stop loss is 3 pips above the highest candle pattern point, and is just off the top of the chart.
We are not near that point yet, so no need to panic!!
We will simply have to sit it out.
The mistake in this trade is clear.
The mid BB on the main chart was rising steeply indicating that a powerful uptend was in place.
The short engulfing pattern would have difficulty overriding this.
We should either not have taken the trade or exited well before reaching the bottom starc band.
CHART 11
Yay!! Down again!! >>>
Here we see that the price action has gone down rapidly and touching our entry point.
The mid BB is going down again.
Good signs!!
CHART 12 FINAL
A nice outcome but a sad result >>>
You can see how the price action went right down.
It did this very suddenly - much slippage in exiting here.
I exited at the bottom starc band.
I suddenly saw the price action drop way below this point as you can see on the chart.
Bad exit?
No!
Sticking to the rules and considering we had a large drawdown, this was a good exit.
But sadly…
Much slippage and I did not get the exit I wanted.
So my profit (and pips won) was rather meagre for a 1 standard lot.
You can see the profit on the unrealised P/L above the chart.
[B]When doing trades, we must be careful to take notice of the main chart mid Bollinger band.
What direction is it going in?
Is it in conflict with the candle pattern?
If so, you can expect a hard time doing the trade!![/B]
That is the lesson of this trade.
thanx tymen for ur chart post… hmm… when will u give us some lesson again?
Tymen, you wrote:
10 minilots=1 standard
Are you paying the broker for 1 standard lot, or 10 times for each mini?
Thanks for the show, excellent done, as usual 