Again, I am a computer ignoramus!!
[B]I am sorry that I cannot help with MT4.[/B]
I do not even know how to load that u tube thing into my internet explorer web browser to play it. 
:o
I do, however, know how to download u tube videos - I have a simple flv downloader for it, and I have also downloaded an flv codec to play them.
That attached file for MT4 may, however, be needed in the final PDF.
Thank you, [B]DodgeV83[/B], for assisting [B]Potaire [/B]with his MT4 problems!! 
Sometimes.
Was your trade a success? 
The Dealbook program is one of, if not [U]the [/U]best program out there.
Yes, Clint is a very smart character.
He is one of a new set of rising stars on this forum.
Several of the old guard appear to have left, namely Daydreamer65, (Honorary FX Member), RRRAM, (Honorary FX Member) and Dale Paterson, (Honorary FX Member).
I wonder whatās happened to Tonymand (Honorary FX Member) ??
Here is my interpretation of this tradeā¦
The main chart shows both the upper and mid BB rising while trying to trade short on an evening star. This trade is fraught with danger. Again, here we need to wait for a 2nd shorting pattern.
Nevertheless a small window of trading opportunity may be there.
Although you did only one entry, it is correct. The mid BB on this 5 min chart is going down and the starc bands are level.
The short entry at the upper 0.7 band was correct.
Tymen, does it matter that the bottom wick of the middle candle is long?
Much more importantly, the upper wick of the 1st candle in your evening star was longer than the star!!
This basically invalidates the pattern unless it is joined to something else, such as a short engulfing pattern.
Dodge,
Thank you so much for the youtube explanation. It solved my months long problem of looking for trades on ibfx other than 15 and 30 min. Now I have it loaded on other time frames as well. It will help me to hunt for trades in a better way. I really wish we can have trades posted on youtube. It will be of great use.
Regards,
Muthu
Chennai, India.
I am going to look at this trade in some detail, correcting several mistakes that were made.
At the same time I will answer the questions raised by muthusai2000
This entry is not fine.
It is made at a point where the mid BB was going down.
Since we are trading long (up) here, it is vital that the mid BB be going up.
I have shown the earliest correct entry point on the chart.
However, after entry, price went up and reached the upper starc band after three candles. May I know what made you to stay in the trade when you could have exited (If i am right it is one of the rules of exiting the trade on reaching the upper starc in opposite direction).
You are referring to point A which I have placed on the chart.
The rules for the starc bands areā¦
level starc bands - we enter at the correct 0.7 band and exit at the opposite outer band.
starc bands going up or down - we enter at best (if possible) at the mid starc band, do not exit but stay in the trade, until the starc bands stop following the BB and turn inwards to go the opposite way. Then we exit.
In this case, at point A, where the price action touched the upper starc several times, the starc bands were going up!!
Hence the 2nd rule applies.
If the rule was followed you could have exited the trade in about 15 min after entry on the upper outer starc with better profit. May i ask what made you stay on ?
This question has now been answered - rule 2 applies.
DodgeV83 was applying rule 2.
So far I have posted the strategy for the Basic level.
There appears to be a little confusion with applying the strategy for the Advanced level.
I will therefore, be posting the strategy for the Advanced level next.
Tymen:
Thank you for your patient explanation. That was really useful. Looking forward to the advanced level.
Regards,
Muthu.
Thank you Tymen for your interpretation. This is what is so great about babypips is that you can get help improving on your trading:)
Here is the conclusion of my trade and thoughts on improving. I felt the trade was risky but for the wrong reason:o Now I know a little better. The green arrows on my chart are my entry and exit. The yellow arrows are what I should have done if I followed the rules. The first yellow arrow is where I should have placed my second order? The second yellow arrow is where I should have exit both orders.
Thanks - Now it is off to work 
Tymen:
I was thinking about this trade and a question came up and i request your clarification. In this trade, you have marked the corrected entry which is 8th candle from where the original entry was made on 5 m chart. This is about 40 minutes from the time the pattern appeared on the main chart. Now, waiting for eight candles to get a better entry after the pattern has formed, wont it invalidate the pattern itself ? Please advise.
Regards,
Muthu
Chennai, India.
Quick +20 pips.
The 5 minute BB were changing direction so I considered it safe to enter.
Exited very quickly +20 pips later. I was planning on walking away from the computer (gotta get ready for work), so I set the TP for the bottom Starc level. Amazingly was hit before I could get up!
Again I will keep tabs on this to see where the exit should have been.
Notes on where I think the trade would have ended
Comments?
Guys, I could really use some help clarifying on when I should enter. Iām still confused. We are entering at a point where we think price will begin returning to the middle Bollinger, right? So we are looking for one of the six patterns to occur at some point along (or beyond) the outer Bollinger band, either long or short. Is that correct?
Here is a screencap I took of a failed trade I had just a short time ago. I was trying to short EUR/USD. I had charts out for 60m/30m/15m. I glanced at the 5m, but there is an awful lot of noise there and I seem to feel more comfortable looking at the 15.
The candle in question is at 13:30 on the 15m chart:
Hello,
By looking at previous candle stick patterns prior to entry, looks like all of them are walking the upper bb and we are in a very strong uptrend and that explains expanding bb. Thats the reason why this looks like a failed trade. Just my opinion.
Regards,
Muthu.
Just before I start a new round of replies, I will explain some mattersā¦
The mid BB is a 20 period sma.
The starc bands are a 6 period sma.
Therefore, the starc bands can turn around quickly but the mid BB turns around slowly.
The starc bands will eventually line up with the mid BB, not the other way around.
Therefore, the mid BB is our main guide to entry and not the starc bands.
When there is a conflict, the mid BB takes precedence.
Remember this!!
Therefore, it is better to wait for the mid BB to go in your favour and get a mediocre entryā¦
rather thanā¦
ā¦get a perfect 0.7 band entry with the mid BB going against you!! :eek: :eek:
The following charts illustrate what I mean.
In both cases the blue arrows show the direction of the mid BB.
Note that the starc bands (pink arrows) are going in the opposite direction.
If your trade was in the opposite direction to the mid BB - you would not enter. - even if the starc bands are in your favour >>>
Yes, it is!!
The green arrows on my chart are my entry and exit.
Your green entry (1st amount only) was good.
There was no reason to exit when you did.
The mid BB was still going down indicating many more pips ahead!! 
The yellow arrows are what I should have done if I followed the rules.
NO!!
Without the green arrow exit, there would have been no yellow arrow entry.
The yellow arrow exit, however, is the correct place to exit.
Now start doing those 2nd amount entries - they are your protection against mistakes in the 1st amount entry.
Hope this helps.
Soldier on!!
[U]No invalidation!! [/U]
If I remember rightly, the main chart was a 25 minute chart.
[B]Candlestick patterns on these charts are effective for 5 candles, even up to 7 candles.[/B]
Suppose we choose 5 candles of effectiveness.
That is 5 x 25 mins = 125 mins or approx 2 hours of effectiveness.
The entry was only 40 minutes after the pattern.
That means we have another 80 minutes to fulfill our trade!!
Hi everyone
Tymen, I just want to say you a big thanks for all the sharing and the hard work. The last 5 days I have read every single posts of the previous thread and I just finished this one. I learned so much. Now I have to practice, practice andā¦ practice !
So keep up the great work and thanks again 
Welcome to this forum and welcome to this thread, FunkyJee!!
You have landed in the right place.
Soldier on!!
Here is my full interpretationā¦
Please understand that I am not trying to criticize you but rather assist you to do top quality trades before you go live.
I have re-drawn your chart below >>>
I make the following pointsā¦
The initial 5 minute chart showed the mid BB going up against an evening star short trade.
A no no entry here - wait!!
Too dangerous.
Only minutes later, both the mid BB and starc bands started to turn down.
This point is at that long red candle.
That then, is our correct entry point.
I have marked it as a probable entry at the mid starc band.
This would be a loss of 3 pips from your 20 pips, howeverā¦
We are meant to do a 2nd entry!! (where is it???)
If you did not have to go to work (my case, I am retired), you would be able to sit this one out.
In that case, we would ride the mid BB and starc bands all the way, howeverā¦
That very long red candle with its super long lower wick moved the price action so far out of the lower BB so as to be totally exceptional and very extraordinary.
Therefore, we seize that opportunity and exit there and then.
You would be lucky to get the lowest point of that wick, but the profit would be about 100 pips, given that we are trading 2 amounts.
(you see the value in trading 2 amounts and not just one).
Hope this helps.
Soldier on!!
Might I understand correctly that the trades are not initiated until both upper and lower Bollinger bands (the outer Bollinger bands) close inward? Previously, I had been trading breakout price movements based on coming out of the contraction of the outer Bollinger bands, indicating a run in price, one way or another.
I do not see a circumstance under which the mid-Bollinger band ever evens out. Is this a consideration?
When no strong evidence of support or resistance is clear from previous chart history, should exits for the second amount be determined based on a Fibonacci indicator?
It is also apparent from my looking at charts today that I do need to have the 5 minute charts open in order to see any evidence of the BB bands curving inward.
