what i understand he trade 10minilots that is equal to 1standard lot… his first entry is 5minilots n 2nd is another 5 minilots so make up to 1 standard lot.
My question was if they charge spread for each mini lot or for 1 standard lot. Lets say Broker fee is $2.-
1 standard lot = 2.-
1 mini lot = 2.-
10 mini lot = 20.- or
10 mini lot = 1 standard = 2.-
If last is case then each mini lot would be .20.-
Hi Tymen and all the other contributors
Thank you!!!
I have read the entire Part I and this Part II
I have installed Dealbook (I went through Jay and it was as easy as it can be)
I have taken a few trades in demo - took some good patterns and then some bad patterns :)…Am learning to recognize patterns better and also improve my trades with the methods mentioned here…
It has been an awesome learning experience.
I am awaiting the final version of that document. I can convert it to pdf for you.
The first pdf, as has been said on this thread before, is a little daunting and confusing… with all the terminology etc. But, now that I have gone through the threads it seems so much better.
Thank you Tymen for all your contribution, you indeed are a jewel in the forex world…
By having your suport lines with resistance and a ticker that give you an idea of were the trend is going is what work for me… If you have to much stuff on your chart it will start to look like spagetti and meat balls…
[B]
To read and trade on the single candlestick patterns, ignoring the whole picture, it is waste of time and money.[/B]
Candlestick charting can produce very good results if used properly, but it takes time to study candlestick patterns, learn about them and to understand them. Merely just trying to catch single candlestick patterns will lead to disappointment.
Biggest mistake in the candlestick charting is to look for the single candlestick pattern and trade in that particular direction, without taking into the account the whole picture. Candlestick or it’s pattern is just pattern, nothing else. There is no such thing as a signal or anything else. When white candlestick appears on the chart it means just one thing: there were more buyers than sellers for that particular period (1 hour, 4 hours, day and etc.) and possibility of the next candle to be white as well.
It is very important to make it clear: candlestick describes the past period, not the present. About future it tells us just about probability, not certainty. So certainly when after the white candlestick, next candlestick is black, the above conditions remains for the black candlestick as well. There are no exceptions.
candlestick patterns must been used in the conjunction with the whole picture, not just single line or signal.
only a fool would trade a pattern on a bollinger band without understanding the whole picture.
Patterns as a whole aligned with areas of support and resistance is the only way to progress in forex.
tymen has been at this method for a riduclous time and none of his ‘students’ have stuck with it - he just grabs hold of the uninnitiated and holds them for as long as he cans.
Do yourself a favour explore the whole site - dont get bogged down here to long if you want success.
http://forums.babypips.com/free-forex-trading-systems/24198-nickbs-4h-scalping-method.html
http://forums.babypips.com/free-forex-trading-systems/2950-40-100-pips-per-day-live-trading.html
http://forums.babypips.com/free-forex-trading-systems/19076-technical-templates-2-a.html
you are far far far far far better off understanding how these people trade…
NickB is a respected trader who has been averaging 100pips a weak for the past 4 years (method candlestick patterns support and resistance - and understanding the market)
tymen would have you sit through a painful asian session (there are times to trade -tymen doesnt understand this saying his 'method caters for all time - thats bollocks - you have to understand market times when to trade and not to.
James live trading room has been the greatest success on the forum where he trades the inside bar pattern trigger aligned with support and resistance - james is a veteran trader who knows and understands the importance if trading times…
Alternative technical templates 2…the follow up to one is run by institutional traders and if you want to understand how to trade like a pro - and believe me it is more simple than tymens wacky method - then drop by there thread…
Alot of the thread is based on James method and similar to NickB method - whereby you spot/mark support and resistance on a longer time frame and then zoom down to the 15minute and see how price behaves when it reaches the zone - often signalling the highest probability of risk:reward ratio trades…
These guys know what they are talking about.
You have obviously done a lot of work!! 
I have installed Dealbook (I went through Jay and it was as easy as it can be)
Great to know it was easy!!
I now know that I can continue to recommend Jay to others who ask.
I have taken a few trades in demo - took some good patterns and then some bad patterns …Am learning to recognize patterns better and also improve my trades with the methods mentioned here…
It has been an awesome learning experience.
Glad to know you are making progress.
This system has been tested by many Babypips forum readers.
With continued learning, you will find it works well.
I am awaiting the final version of that document. I can convert it to pdf for you.
This is great news!!
Last year [B]SimplexX [/B]did it for me.
I would be very grateful if you could do it for me this year!!
Your name will go in the credits!!
The first pdf, as has been said on this thread before, is a little daunting and confusing… with all the terminology etc. But, now that I have gone through the threads it seems so much better.
I will go thro this very carefully.
I think I now know where the problems are, so I will look to simplifying the PDF and making it a lot clearer and easier to understand.
There are also big sections that need to be deleted, since they are no longer relevant.
I will submit the new pdf material as a draft to readers for comment before we set it in stone.
That way, I can get it set up so all can understand it clearly.
Thank you Tymen for all your contribution, you indeed are a jewel in the forex world…
Thank you indeed for the compliment!!
It is better news than I get from Herbie!! 
Great, thank you for taking the high road.
Couple of questions
- Do you believe in not trading on fridays and weekends when the markets are too volatile? I think i read about staying out of markets on fridays and weekends on baby pips school and a few other forex sites.
- I remember there were a few attempts at automating the system before. Was there any more development with regards to that? I dont seem to have read any follow up posts on that.
I have traded a lot on both days and never had a problem.
From what I have learnt on this forum, there is a liquidity problem on these days as the big players go home.
However, our little trading sums are so small in comparison that we should have no trouble buying and selling.
And I have had no trouble!!
- I remember there were a few attempts at automating the system before. Was there any more development with regards to that? I dont seem to have read any follow up posts on that.
The highly competant and very experienced programmer [B]SimplexX [/B]was trying to do this last year.
I have lost contact with him.
I do not believe that this candlestick method lends itself to automation.
Too many judgement calls for the candle patterns are required.
This, however, is a good thing.
Automation reeks of black box systems and these always end up failing.
The candlestick method here, requiring judgement calls, means that you are dealing with a dynamic, evolving method, that goes along with the changing character of the price action.
Candle pattern are based on the shape and configuration of multiple candles in relation to one another, not just the color of a single candle. They are an excellent way to trade the forex market.
In fact he also mentions James’ thread and last time I checked he used basically two triggers for his setups: stoch and… inside bars which is also a candle/bar formation.
Candlestick formations work because of the market participants psychology that forms them. An evening star for instance shows that a swing high has most likely been formed. It’s basic universal stuff used by most traders, whether they prefer bar charts or candle charts.
However, anyone wondering whether Tymens method works or not can easily investigate that by themselves by scrolling back their charts and then move forward one bar at a time, following his method and see how they end up.
I suggest that rather than just listening to Herbie. His kind of posts do not suggest a balanced, successful trader worth taking advice from imho.
To read and trade on the single candlestick patterns, ignoring the whole picture, it is waste of time and money.
Candlestick charting can produce very good results if used properly, but it takes time to study candlestick patterns, learn about them and to understand them. Merely just trying to catch single candlestick patterns will lead to disappointment.
Biggest mistake in the candlestick charting is to look for the single candlestick pattern and trade in that particular direction, without taking into the account the whole picture. Candlestick or it’s pattern is just pattern, nothing else. There is no such thing as a signal or anything else. When white candlestick appears on the chart it means just one thing: there were more buyers than sellers for that particular period (1 hour, 4 hours, day and etc.) and possibility of the next candle to be white as well.
It is very important to make it clear: candlestick describes the past period, not the present. About future it tells us just about probability, not certainty. So certainly when after the white candlestick, next candlestick is black, the above conditions remains for the black candlestick as well. There are no exceptions.
candlestick patterns must been used in the conjunction with the whole picture, not just single line or signal.
Patterns as a whole aligned with areas of support and resistance is the only way to progress in forex.
if you bother to read this then you will understand…
I’m a newbie to forex, but here is my 2 cents on this topic. It makes me sad to see any thread get off topic like this. If Herbie’s motive is really to warn unsuspecting newbies of predatory folks, that can be a good thing. But there is more appropriate ways to do it instead of trash talk. Be an active participant in discussing the pro’s and con’s of whatever method is the topic. I’ve been trading less then a month live. I’ve picked 3 methods to start with. 2 where you wait around for the right set up (sunday breakout & Nick B) and 3rd Tymen’s candlestick method I use while waiting for my other setups to hit. In the 2 weeks I’ve used Tymen’s candlesticks live Week 1 - 3 succussful trades for a total of 38 pips and one loser for 15 pips. Week 2 - 4 winners (7, 9, 110, 15 pips) and no losers. So far, I’m happy with the method. It meets my needs. Also, I enjoy Tymen’s teaching method.
Tymen,
Can you please PM me the email for Jayce at Kinetic ?? It is been easier to trade off Dealbook even on pattern recognition methods.
Happy to do this for you [B]vicky_ag[/B].
One PM coming up!!
Thank you for your support [B]Jack B PIP[/B]
Great to know that you are making profits using this method!!
I shall continue for now to post live trades to give further insight into how to trade the Advanced level.
Thank you to both akeakamai and phil838.
Here is an example of [U]how not to trade[/U] a candlestick pattern >>>
By tymen1 at 2009-06-22
On this main chart of 20 minutes AUD/USD, you see a highlighted morning doji star pattern on the lower Bollinger band, indicating a long trade.
But look at the Bollinger bands!!
The price action is all the way walking the lower BB.
The BB are not only going down, the mid BB is going very much down.
There is combat here.
A candlestick pattern telling us the price is going up.
An unmistakable trend going down.
The rule here, which I have stated in "The Correct Use of the Bollinger Bands"
is that one opposing pattern makes the price action goes sideways at best, but two opposing patterns are needed to send the price in the direction of the patterns.
Here we have only one pattern.
[B]Lets see the result…[/B]
[B]Here is the result, and, yep…
…as expected.[/B]…
By tymen1 at 2009-06-22
[U]A continuation of the downtrend.[/U]
The price action did go up for a brief period, but the mid BB “won out” in the “combat” and the price action went right thro where you would have set a PCI stop loss.
This then, complies with the trading rule I have derived…wait for 2 patterns before you try this!! :eek: :eek:
The Bollinger bands serve as an extra confirmer of the price action.
This was stated in the first few pages of my first thread.
[B]Nick B[/B] in his system, uses support and resistance lines.
I use the Bollinger bands.
Both accomplish the same thing.
It also makes nonsense of the below statement by Herbie the Troll and clearly displays his ignorance of the method.
To read and trade on the single candlestick patterns, ignoring the whole picture, it is waste of time and money.
The [U]full explanation [/U]of the use of the Bollinger bands is given in…
Hi Tymen and all friends in this thread!
I just want to say thank you for all the work you have put into this. I have been reading this thread and the recommended postings in thread 1 for the past few weeks and yes, it is a lot of material but all the chart examples have been very helpful.
My opinion is that your advanced method is actually really simple, being a physics and math guy myself, to me simplicity is beautiful. But since this thread has gone on so long and the system has changed quite a bit I think it would be really helpful to newcomers if you could post the final PDF.
I don’t pay much attention to people like Herbie, just ignore it, he will eventually go do his thing somewhere else. I have used your advanced method myself for some time now and it has worked fine for me. I will stick with it for some time to test it’s performance further.
Although I am new to this forum and Forex trading, I have been trading stocks for the past ten years, I have a major in finance and my exam report was on technichal analisis of stock markets.
Best
Fredrik
Thank you for your kind comments [B]eddman[/B].
It just goes to show that I don’t know who is reading this thread.
Yes the final PDF is on its way, but I first have to supply some more examples of successful Advanced level trading.
I will then write out the final PDF posts to see how readers comprehend them and modify to suit.
The end of this method is in sight.
Good, chart examples and live experience on demo account is the best method to get a grasp of this method (or any other method). I will setup a photobucket account and do some postings myself and I hope others following this method will do the same.
What I find the hardest is validating chart patterns and setting profit targets, I often exit on the bottom stark band (when going short), but I could have run with the trade much longer and made a bigger profit.
Trading the starc bands in the 5 min chart is easy though and I often find I can get out 3-5 retraces after each outbreak.