[B]Here is the main 20 minute chart again to show you what has happened so far [/B]>>>
By tymen1 at 2009-07-07
Here the price is now going thro the lower BB but these bands are expanding here too.
And that mid BB is [U]still going down steeply.[/U]
[B]More to come!![/B] 
The final chart of this series - a 5 minute chart >>>
By tymen1 at 2009-07-07
The price here has plummeted from 245 right down to 155.
[B]Spectactular!![/B]
The total price drop so far from the evening star candle is 287 thro to 155.
[B]This is a catch of 132 pips with more to come!![/B]
Now using 2 amounts you would have close to doubled that.
That makes approximately 260 pips!!
[B]Further, this win is accomplished in about 40 minutes!![/B]
[B]That is a rate of 390 pips/hour.[/B]
This was quite spectacularā¦
oh iām getting tired of loosing money. I think i need fresh air (win some pipās). Iām trading according candlestick method and try to find morning or evening stars, but sometimes they fail. win little loose a lot. help
It would help if you could post your charts. Whats your risk management ratio? How many time frames are you looking at?
Not every pattern succeeds. Choosing quality patterns is critical.
mostly i use H1 TF. And i never used stop loss. and about two month every order I make they all goes wrong direction:). for now i ordered eur/gbp sell order at 0.8623 according H4 evening star and for two hours thereās nothing promising. any advice?
That evening star is a poor pattern IMHO because the BBs are going up, the middle BB treacherously so. Look for the middle BB especially when you search for patterns. Thats where your price is headed generally.
Right now, New york is closed, London is closed and Tokyo has been open for about 20 minutes - implying low volume for another 8 hours (till London open).
EUR/GBP is actively traded during London and New York timeframes.
For the current trade, look for a good exit. Based on the pattern its oscillating in, it should give you about 10 pips profit.
ok. then i missed something. for now i will hunt only starz. Could U describe good starz patterns in a very very simple way. english is not my native language especelly in such serious subject. Tymen ones said that for newbies stars is a good start, but if there is something more interesting iām listening:)
Tymen, it is great seeing you back on this thread. Also everyone else has had a lot of really great questions and discussions. Thanks, it is very helpful to us newbies.
Thank you [B]Jack B PIP[/B].
The aim is to keep posting such trades for a while.
Then I shall start posting the material that will become the basis for the 2nd and last PDF document showing the method complete.
Thank you, [B]tradertan[/B], for answering the questions and hence taking the strain off me!!
To [B]nevietinis[/B], I sayā¦
I am disappointed to see that you are not using a PCI stop loss.
Here is part of your problem with losses. 
It is [U]mandatory[/U], and part of the trading system that I promote here.
For a clear understanding of the patterns, I again direct you to this siteā¦
Japanese Candlestick Charting Explained
Please note that there are also candlestick threads on this forum that promote [U]candlesticks only with support and resistance lines[/U].
This procedure is best taken on longer timeframes such as [U]4 hour and daily.[/U]
The method I promote here is a [U]specialist method[/U] for dealing with timeframes of 20 minutes to 1 hour.
That is, very short timeframes.
[B]
This method will also work very well on the longer timeframes, however, you will spend time waiting for an appropriate candlestick pattern to appear.[/B]
Tymen is followed by many people with experience as well as being followed by newbiesā¦
He has some great concepts to share.
Tymen has some interesting candlestick entriesā¦ with strict rulesā¦ that work most of the timeā¦
Hello Tymen1
As a new baby piping member i have found your post extremely fascinating.
If possible, just the one question.
Your advice on using starc bands (hope got this right) is for MT4 platform, would be possible to apply your band programming in another trading station?
I have downloaded FXCM station to practice FX (demo account)
The starc bands here are taken from the GFT platform.
However, most trading platforms should have starc bands.
If not, one could write a program for them.
I am sure that FXCM must have starc bands.
If not then here is the program from GFT and with some work, you can make it work in whatever code FXCM usesā¦
indicator STARC_Bands;
input factor = 1;
draw line_mid(āMid SBā), line_upper(āUpper SBā), line_lower(āLower SBā);
vars tmp(series);
begin
line_mid := sma(close, 6);
tmp := factor * mma(truerange(), 15);
line_upper := line_mid + tmp;
line_lower := line_mid - tmp;
end.
Thank you for the compliment [B]Blaiserboy[/B].
I trust that you have advanced greatly in your knowledge of forex by now, and are now making steady profits!!
Very tired from shopping today.
Doing a lot of forex research as well to keep ahead of my subject.
Will post again tomorrow.
Tymen, you are quite welcome. Its the smallest contribution I can make compared to what I have already gotten from your knowledge, I feel we get more grounded in a subject when we try to answer questions. Things get clearer in our own understanding.
On another note to fellow newbies, watch that stop loss. I have ended up moving stop loss hoping that the market will move in the other direction and mostly lost ādramaticallyā in the end. Only a few trades go your way trading this way. The market does what it wants to doā¦So, if the trade moves away from you, get out while you can.
It looks to me like these people who are shorting at this level are shorting right into a demand level which precisely what the institutions want them to do so they can transfer those peoples accounts (the unknowing public) into the institutional accounts. At that point, Demand looks like it exceeds the supply side and my guess that is going to be followed by an upmove.
Excellent explanation of what is going on there, [B]apache2009[/B]!!
Better explanation than mine!! :o
having in mind your posts on candlestick trading (part 1 and 2) i would like to ask just 2 questions - are you publishing any book (even PDF format) and would be possible for me to purchase your publication ?
regards
PippingTom
To [B]PippingTom[/B], and to others who may be asking the same question.
I must reply here because visitor messages cannot be replied to in the PM section.
If you wish to PM, then send the PM directly, not thro visitor section.
I will not be publishing a book.
I will, however, be producing [U]a final PDF giving the full method[/U] detailed in this thread.
I have promised that this will be coming shortly but first some more Advanced live trade examples.
These examples are important so that you can see the emotional tensions involved and how to make the correct decisions during this time.
The PDF will outline two methodsā¦
The Basic level, which has two strategies that work very well.
AND
The Advanced level, which is being looked at right now.
I will first post some of the material as Word documents on this forum so that readers can comment on clarity.
If there is material that is not clearly understood, then I will modify it.
When finished, I will ask someone to make a PDF of it,
ā¦ or try it myself!! :eek:
The PDF will be clearly posted on this forum and will, of course, be free.