as a newcomer i was successful with BB in demo but when kicked off a live account , this approach not worked as like before , it was my experience about BB.
Maybe which traders use the BB on sideway and rangy market only!!
its not a problem with strategy , the experience you have shared , its just all about the different between demo and live result , nothing without it at all.
Not a great experience with this tool! I have much better memory with Moving Average.
not a consistent experience with this system, its the foremost strategy for beginners level.
Here. Don’t say I never give back to the community (e-book by Kathy Lien and Boris Schlossberg):
https://drive.google.com/open?id=1Hqa8rfy0UcDYm1aF2E1xw4b447z9rfE2
At bare minimum the introduction and her (their) approach to trading (profits and losses etc.) is worth the read.
But there’s one or two BB strategies of hers (theirs) in the book.
With regard to the trading systems:I’m not advocating trading them and cannot vouch for their effectiveness or profitability as I don’t trade them but for one (“The Memory Of Price”) which I use for trading double tops or double bottoms in the equity and commodity markets (with an almost 100% success rate so draw your own conclusions). I do not trade FOREX in any way, shape, or form so again: given that the trading systems are apparently designed specifically for the FOREX market I cannot comment.
Enjoy.
Regards,
Dale.
Good for confluence but nothing more.
I was used it in the past,
But i have bad P/L
Now im switch to EMA and volume at 1H and 4H timeframe
I think suits me more
It’s one of the indicators I use, among others. Was the very first one I learned to use in forex, and am quite satisfied with the information it gives me. Don’t brush it off until you’ve read John Bollinger on Bollinger Bands (the author is the original creator of Bbands).
To my mind, this indicator is a bit unclear. It seems to be a bit difficult to use it in most of the cases. As many other indicators, it works fine during the flat movement without any direction, but relatively strong trends may cause false signals and losses. I`ve found several strategies based on it like this one, but it could be a bit complicated, especially for newbie traders. At the same time, it could be an interesting supplementary indicator providing additional confirmation for other strategies.
its a common experience we have all, main different all about psychology when trading in live or demo.
Did you ever go back to it again?
Oh wow, big thanks to you!
Ummm, what are you trading? Options?
Yup, that was plan as well. Thanks for sharing!
Equities and commodities. Mainly indices.
Even today? When was the last time you placed a forex trade?
Probably 2005 - 2007. Could be wrong. But not by much. Certainly not in the last five years. Of that I’m 100% sure. Unless the US Dollar Index counts. In that case once in the last five years. And that ended badly. So that was the last.
Not to tarnish my reputation of course but I will admit to looking at some pairs now and then of late. There’s one or two that have set up just now as per a particular trading system that’s pretty darn good. But these are trades that could last for weeks or even months if they work out. Which again will probably not be of interest to most around here. I shall see. Tempting as it may be though: will probably give them a miss i.e. will tie up margin for an extended period of time that certainly could be used more productively elsewhere like Equities (of course).
Care to share any details about it? C’mon, I know you really want to. Ha!
Not keeping it to myself I assure you. Just that I posted a link to the e-book in which the system is detailed and I think exactly one person looked at it so didn’t bother here. You now: God forbid somebody actually has to read through something and learn i.e. not interested unless it’s spoon fed and/or doesn’t make 1 000% in five minutes type of thing.
Anyway. See link below. Go to page 41 section 4 “RSI Rollercoaster”. When I was indeed thinking about jumping in on a FOREX pair I was looking at AUDJPY and AUDUSD with this trading system. I actually got in and then decided no. Not for me. Have not bothered with FOREX for years and years. No reason to start now just to prove a point. So just closed the trade out (basically lost the spread is all). In just looking now though: still valid trades for the system as I type this i.e. stops have not been taken out as yet so could be a late entry with a very tight stop as per the system. Not the way I would trade it i.e. I don’t use stops. But that’s not for everybody for sure. Rather stick with the system as is (at very least until you are familiar with its nuances and shortcomings). Works a treat on Equities though I’ll tell you that.
Kathy Lien and Boris Schlossberg - High Probability Trading Setups for the Currency Market
Another possibility COULD be page 56 section 6 “The Memory of Price” on both pairs mentioned above at this current time. Now this particular trading system is REAL robust. Double tops and double bottoms. It’s reliable though simply because of the extreme wide stops and the way the trades are managed. Point is: with small accounts it’s probably not possible to trade it or not worth it.
Anyways. Good book and good reading I assure you. Even if a person doesn’t trade or isn’t interested in the trading systems the balance is sure worth absorbing.
And not infringing any copyrights i.e. these same systems were eventually published in their entirety on Investopedia.
By the way: not suggesting that anybody take any particular trades (the usual blah, blah, blah disclaimer). Just saying.
Also: none of these trading systems are my core trading system. Call them high probability opportunistic trades if you like.
For the sake of interest (although I’m figuring that given it’s not a FOREX chart it’s not going to excite but anyway) below is a daily chart of the Swiss Market Index Futures (Expiry 21 June). See if you can spot the last three slam dunk trades using The Memory Of Price. That’s serious money (if you have the capital of course i.e. very little leverage here).
Swiss Market Index Future Expiry 12 June
I just use it as a back-up confirmation on occassions. In a uptrend I like to see price at or near bottom of Bollinger and opposite for downtrend. but have never used it to make a trading decision…
Holy smokes, Dale, thanks! That ebook link has 53 clicks now. Not sure if that’s been in the last day or two, but it got some action. Thanks again! I’m reading now and reviewing the two setups you mentioned. This is exciting!
Haha, this made me LOL. Too true, too true. Us newbs want it spoon fed with guarantees wrapped in gold bars and lambos.