☞Introduction
Hi guys. I’m back to Babypips after a few months of training and trading with my system http://forums.babypips.com/free-forex-trading-systems/64453-abc-daytrading-system-100-pips-trade.html .
And now, I discover a strategy using 2 Bollinger Band to help in scalping. I’m not sure this idea had been posted in the forums already or not, if yes, please tell me.
☞Instruction
Set up:
1)SET UP TWO BOLLINGER BAND BUT DIFFERENT SETTING
-PERIOD 20, DEVIATION 2
-PERIOD 20, DEVIATION 1
2)SET UP CCI INDICATOR OF PERIOD 20 WITH LEVEL 100 AND -100
So your chart should look like this
Rules to trade(Its as easy as ABC):
TAKE PROFIT : 5 - 10 pips
STOPLOSS : 10 - 15 pips
TIMEFRAME : Hour (other time frame is usable but need to tune the indicators)
[B]HAPPY TRADING!
Leon.[/B]
I have been using a similar idea, except that I take the trade when a 4 period ema crosses the center line of the BB and the distance between the two begins to widen. Of course I look generally at the slope of the price action but the two lines are it. For further confirmation you can use the MacD crossover. It works for short term scalping but also can lead you into some longer trends. I meant to mention that I am using the double BB as you are.
Hi nice to meet you! So did you enter the trade same as my rule? I’m not clear about the use of 4 period EMA and MACD, hope u can share it with us.
Leon, I will be happy to explain further but it will be a couple of days before I have time. Important to understand that the method I am using is not a 100% mechanical system. I monitor and manage each trade. It would be good if I could send you a screenshot but I don’t know how to do that.
Same. I’m a full time forex trader. I monitor my trade too :5:
can i trade this system in us session or need it more moves:D?
and can u explain a bit more please?
I use this system when US open and overlap between US and London. And I only use on HOUR time frame.
ohh i can only trade after the overlap because of my work
U may give it a try and see does it work on other session.
i backtest a lbit with 5 min charts in us session on eu/usd and it looks good
why u used your system only for 1hour
So i no need to monitor my trade every couple minute that’s hard to me. And 1H got more momentum enough to go for 5 pips mostly in my trade.