Both these patterns are fine!! 
There are at least 10 pips between the red candle and the mid BB on the 30 minute chart.
That is good.
As it was, the price action went down much further enyway!! 
Do they allow unlimited demo ?
Kinetic Securities, of Sydney, Australia does!!
They are an introducing broker.
Google them, they have a fine website.
Email or telephone (time zones), Jay Pace.
Tell him that Tymen sent you and ask for the unlimited demo.
He should grant that to you, providing that you intend to go live sooner or later.
You get to keep your money in a local bank.
I get no incentives for recommending them or recommending Dealbook. 
Can I ask why you intend to lock the thread in November? I find it really helpful to discuss what people have done right or wrong in their trades
Tymen:
Thank you for your kind guidance. I will look into it.
Regards,
Muthu.
Dodge:
If i may tell my view about the chartsā¦To me the 20m looks very promising as the bands getting really flat and price action has more room to reach middle bb than the 30m. The middle band on 30m is still pointing up a bit as compared to 20m. If it was me i will take the trade off 20m. Just my humble opinion.
Finally i got the 35 & 45 tf working fine on the platform. Thanks for the reload of the indicator dodge.
Regards,
Muthu
Chennai, India.
Hmmm, one question I remember thinking but I donāt think I ever got a definitive answer: I know that the candlestick pattern can influence up to about 7 (if I remember correctly) candlesticks so would it be advisable to trade a pattern 2 or 3 candlesticks later if it has risen slightly? Ie:
Hello,
As per my understanding, trading a valid pattern after 2 or 3 candles looks ok to me. It is more like you get a better entry (In this case you are looking for a short and the candles going up gives a better entry level). However, the position of the bbs slightly bothers me. It may trumpet as it is just coming out of a bollinger sqeeze. I am also looking at previous 4 or 5 candles before the pattern. They are all walking the upper bbs. Just my opinion.
Regards,
Muthu
Chennai
India.
Tymen,
May I please ask that when you make the pdf, it includes clickable hyperlinks for quick navigation? Donāt ask me how, I have no idea about that stuff.
PS - Still using dealbook. Sorry I havenāt contributed to this thread, I barely have enough time to trade lately, let alone post.
Welcome back again VulcanClassic!!
I donāt know if that can be done with a PDF, Jeff.
However, even if not, the new PDF will be very comprehensive, and leave no room for confusion.
PS - Still using dealbook. Sorry I havenāt contributed to this thread, I barely have enough time to trade lately, let alone post.
I take it you have lots of work!!
Good for you!!
Firstly, an [U]alternative thread [/U]will be provided to continue posts.
The purpose of locking the thread is the same as last year.
Since it is a developmental thread, I do not want trolls invading this thread at sometime in the future.
I also want to give a clear sign that the research has been completed.
I choose November, because it is approaching our summer season and I need to rest and go on holidays.
On the other hand, the alternative thread and the final PDF will be clearly posted on this forum.
You are exactly correct in what you say!!
I see that I must state a new rule that I have always used without mentioning it.
[U]The rule isā¦[/U]
[B]Always trade the timeframe closest to the 20 minute timeframe when there is a choice of trading timeframes.[/B]
Finally i got the 35 & 45 tf working fine on the platform. Thanks for the reload of the indicator dodge.
Soldier on!!
[B]This is a classic case of the BB expanding rapidly.[/B]
The price action is walking the upper BB.
A short pattern has appeared and the price action is [U]going level /U for a short period.
Without a second short pattern appearing, the price action should be expected to resume its upward trend.
The probability of a successful short trade on this pattern is therefore, very low at this stage - unless a 2nd short pattern appears.
It is not a recommended trade!! :eek: :eek:
The influence of 7 is exactly that - influence.
The influence here is that the pattern has temporarily broken the upward trend - which may possibly continue for up to 7 candles.
But the trend breaking is from upward to level.
[B]A 2nd pattern is needed to break it further from level to downwards in this case.[/B]
Ok, this is how the main chart looked after exit. The oval box shows the pattern based on which the trade was taken and the big box shows the overall play. I also wanted to thank Dodge for the help provided thru indicators, without which i couldnot have got 45 m chartā¦
Comments/Critical suggestions are most welcome.
Regards,
Muthu
Chennai, India.
I looked at that same chart and didnāt take the trade because the middle candle was red instead of green.
I looked at the graph later (and again just 5 minutes ago) and kicked myself for not taking it, but reassured myself by repeating my new mantra:
I am a sniper. I am a sniper. I am a sniper.
āYou are a sniper!ā
I wrote it down on a sticky note and plastered it to my screen.
I remind myself of a scene in an Xbox360 game called āCall of Duty 4ā, where the main character camped out for days, without moving or making any sound, waiting for the target to come into his sights. Patiently waiting for one decisive, killing blow.
I got this mind-frame from Tymen1 himself:
Did you make a bad trade? Nope.
Was it a high probability trade? Probably, Iāll let Tymen1 comment on that.
Did I miss out on some good pips every-single-time I fell back on my āI am a sniperā mantra and didnāt take the trade? YES
Is it different trading now that Iām using real money instead of the demo? [B]DEFINITELY![/B]
BTW: The entry and exit points look good.
This is a failed trade that i took. The pattern looked like a dark cloud cover to me. However, it hit my stop loss. I need your comments on this trade.
This is how the chart looked after it hit my stoploss. Sorry I could not get a snap of the 5m entry exit. Comments are welcome.
