Bollinger band trading with MAs

CAS

Your an experienced trader and thus can make a good judgement call. Don’t want to lead anyone who might read this into thinking they can run before they can walk. :slight_smile:

Max pips/Max risk is a wick outside the bollinger and a subsequent change of candle colour and enter. Some times when trade is entered, subsequent candle will break back up and retest the previous wick, especially on the shorter time charts.

Safer trade is to wait for a break of the bollinger and wick as an indication of a trade. Then wait till ma confirms before entering a trade.

Your call CAS. :smiley:

stops…

R. we were talking about stops on that other thread but I’ll pick up the idea over here and not get the breakout gang too far off topic. So you mentioned using a 10 pip stop. But when you and I were talking about the red MAs and looking at using a price line rather than candles. you had mentioned a 100 pip stop with the price line vs a 50pip sl with the candles. So you would base it on the previous high or low and bigger stops on the hour chart and smaller on the 15m ?

TALOND

The stop on that last trade on GU over on ‘Win Ratio’ was proportionate to the trade. Highest wick was at 10 pips and were into slow time right now. I placed my stop just above the highest wick outside of the bollinger. I entered the trade at the next solid candle. As the trade went positive, I moved to 10 pip stop in the direction of the trade proportionately. First to BE then on down in proportion to how much and how fast price was moving. :slight_smile:

The longer time charts tend to require a bigger stop. Depends where the previous high low wick is? :slight_smile:

R Carter
lol. “Run before they walk.” lol I like that.

My call…? Slightly out of whack. lol GBPUSD trade just got knocked off. [B]1[/B] pip misjudgement.

Need to practice those manual stops. lol

R Carter

What do you think about that EURUSD…? Has it found it’s top…? Looks like it doesn’t know where it want’s to go. :confused:

CAS

Honestly… do yourself a favour and don’t trade outside Ln - Ny. I don’t. :smiley:

R Carter

Smart man :smiley:

Eastern Daylight Time… Bah Humbug

TALOND

Hey I don’t make the Rules! Come live in Europe. :D:D:D

pay for my trip and lend me a spare bedroom ?

:smiley:

Always wanted to see what’s on the other side of the pond

Or better yet… adopt me! lol

back to the subject of stops. What if you make a trade and it immediately goes the opposite direction? how far do you let it go before you end it?

yeah I know that never happens for you pros

It depends on the time frame, how far it drops, markets, instrument, volatility, time of the day, the trade , ect.

If it goes against me a couple of pips I watch it closely.

There is no general rule. You can’t put a number on it. IMHO It has a lot to do with own judgement.

You just gotta be nimble…:smiley:

TALOND

Spare bedroom??? I have 12 kids and 8 still live at home. :smiley:

If/ when a trade goes against me (before it goes into plus pips) I’ll let it go to SL.

Took a BUY at point A based on the bounce from the red MAs on the 15min chart - this inidcated the trend was still pretty strong.
Went +20 in my favour then came back, stopped out for +5.

Then because of the down trendline on the 1hr chart and a reversal candle, I took a SELL at point B, which did nothing for 5mins then dropped suddenyl. Currently +30.

Stopped out +10, re-entered short.

A: original SELL
B: stopped out though if my computer hadn’t crashed I may have closed for around +20 of the +30 available.
C: re-entered short on MA crossover

Closed out for -26. JOY :frowning:

+5
+10
-26
= -11

Maybe it’s going for a retest of that trendline?

SanMiguel

Try your hand with the 5m, might have more luck. :slight_smile:

It was :slight_smile:
Well, based on the 5min MAs but 1hr trendlines.

SanMiguel

Ah, I see… bugger! :smiley:

I’m pretty sure it’s setting up for a short, what do you think?