Dont think you will find anyone on this thread willing to post their account statement… but what you will find is posts on entries and why. Should give you a good idea of the usefulness or otherwise of using various combinations of Bollinger bands in conjuction with S/R and the odd MA.
There are gold nuggets scattered throughout but the first two posts contain the basics.
I’ve never really thought of this thread as being about a system, but more of an instructional discussion on how to incorporate Bollinger Bands and Moving Averages into your current system or one you are creating.
Do you change your Bollinger and MA setup when switching to EUR/USD?
What do you suggest doing when the banks your broker deals with engage in weekend trading? Last time I tried to set up S & R weekend trading threw off my lines. Should I just ignore the weekend trading or figure it in? Either way it seems that it’s going to throw off my lines. Because if some are using lines based on the weekend trading I’m off if I don’t do the same and vice versa if their brokers and banks don’t weekend trade. Kinda in a spot on this. I’d hate to start the week with my lines off the mark for the first day.
No Bollinger bands react in the same way on all crosses i.e. 1 & 2 standard deviations as an indication of the level of overbought.
I use 2:1, 5:1 and 10:1 on 1h, 4h and day in conjunction with daily S/R levels. 3-6 trades a week.
One thing to take into the New Year… ‘Less is most definately more’ in FX.
not true at all on that last part. im currently using 42 different bollinger bands on my charts and it works great, take a look
I love that chart
are you sure 42 is enough? you might miss a potential move:D
the answer to everything in the universe is 42, so naturally i only use 42% fibs, a 42 pip stoploss, a 42 pip take profit, 42 degree trendlines AND 42 bollinger bands just for goodluck. btw notice how the 2:1 band flattens on the top with wicks just before the major down move lol.
on a more serious note, i just started to add trendlines into my trading process. so now im using the 2:1 boll. daily res/supp lines trend lines and 8/3/3 stochs
Oki doki, didn’t think you did. Just making sure. The EUR/USD being less volatile made me think you just might change up a bit.
haha, wont catch me with more than 3-4 Bollingers at the most on one time frame, ran 5 once, and that’s it, besides a single moving average on the 1 Hour and up charts. Can’t stand stochastics.
same i personally just cant use too many bollinger bands it just looks like a mess and i cant read it well. as for the stochs i love it its a nice leading indicator that shows momentum, it cant soley tell you what is going to happen but add in some res/supp lines and a 2:1 bollinger band and it works great
ps eur/usd looks like itll be heading down some tho not 100% sure havnt fully been looking over it, and gpb/usd looks like its gonna break through its minor up trend. MACD is dropping while the trend slowly goes up but well see – attached a picture of my G/U 1H chart
Hehe… just logged on and thought it would be quite this time of year… your both FX junkies.
Love those 42 Boll bands. I know someone who uses 2,4,6 up to 20 LWMA coloured green and 22, 24. 26 up to 40 LWMA cloured red. If youve got some time put them up on a chart. Seriously its called a ribbon.
When the ribbon is wide PA is running out of steam and likely to reverse. When the ribbon is tight PA is likely to break out or is moving.
Also it looks very pretty.
Very pretty Mike… grand mother and eggs springs to mind. :D:D:D
lol, well i tried it and its just not something id use. i prefer more direct signals such as overbought/oversold. something simple like that, i dont like having to guage each LWMA cuz im just not that good at it tho it is pretty haha
On the subject of pretty charts a guy here on BP named pip siphon uses what he calls the fibbollinger a bunch of BB with the deviations set to fib levels. looks nice.
this is a repost of one of his charts hope thats ok
Got in a weak EUR/USD sell at 1.43910 based on the middle bollinger line on the 12 Hour chart. Stop at break even, 10+ pips, hoping for a decent drop, just bounced back up from the middle bollinger on the 30 minute. Better than nothing I guess.
sure is quiet today lol
GU looks like its finally lining up for a short trade on the 1h.