Bollinger band trading with MAs

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I will suggeest you close that short position and go long on EU and GU.If you have capacity for another trade,go short on USD/CHF.And make sure you take whatever you get before 6:30pm EST tomorrow because of the Bank of England and European Central Bank interest rate decision is tommorow(7AM).Close all trade and decide accordingly if you are interested in trading the news.

Yeah.Johnny is doing heck of a good job here,though when chart looks complex,it is prone to misinterpretation.I just dont like the idea of complex indicators.I am a big believer in KISS(Keep It Short and Simple).I like LRC,though, to help me track the trend reversal and to maximize pips when you are in good trade.It has been working like magic in that respect.
Headmaster

ill let my short go for now, already got it set to BE so no worries :stuck_out_tongue:

Robert,

Three of those lines are your fault. LOL. Those are the least complicated charts that were put together about a month ago. My actual trading charts are much more complicated. I actually get bored if it gets too easy. But most of the stuff is not needed.

The bols and the channels are the important stuff with a keep you in the game indicator and some method such as yours to get you out before it’s too late. As you well know choosing the best trades and staying away from the risky ones will do more to keep money in your bank account then anything else.

When I was a young buck my Father took me pheasent shooting. He gave me a three shot pump shotgun. I shot two full boxes of shells and didn’t hit a thing but air. The next time we went hunting he gave me one shell at a time. When you make every shell count you hit a lot more game.

The absolute best is the hand drawn trendline which I still use in my head.

Trade well and prosper,

Johnny

Hopefully the advice there is taken on a practice account.

I would respectfully submit that you tell people the way you traded, but not advise them to alter theirs.

Could be a bit of a bee’s nest for problems should things not work out.

hellogoodbye4201 & Headmaster111,

If simple were better we’d still be riding in horse and buggies or the very least the Model T. If you can make a boat load of money on a simpler chart it’s your call. As I stated to Robert, The Bols and the Channels, “a keep you in the game past the head fakes” and a “get you out before you lose all you’ve gained” is all you need.

The channel updates as new data is calculated. On the 4 hour chart thats a whole 6 new bars a day. Patience. If you get the shakes waiting for the thing to change, which is like a snail crossing a closed street, Trade the M5 and M1as this will cure the ants in your pants.

You might find it entertaining, profitable and educational as well. You really can’t lose to much at one time. I do it now and then and have never had a losing day.:smiley: You might stutter a bit afterwards if your the nervous type but it wears off after a couple of pints. LOL.

Don’t try too fancy a chart on these lower timeframes as it will make you cross-eyed looking at all the lines. A Bols-9 and Bols-24 with a Snake or Stochastics. If this doesn’t get rid of the yips break out a fifth of Cutty Sark.

Understand the channels value is shows more with a volatile PA. It’s even more fun and profitable with a more volatile PA. The LRC on the M1 especially is not used as a channel to channel ATM machine. In a slow streaming market the Bols will show more value in that respect. The LRC will give you trend with the regression line and breadth of the highs and lows. Movement outside this channel sticks out like a sore thumb alerting you to a change of direction even a small one. The channel must to conform to this new high or low to maintain the value of the LRC for future movements of the PA.

I personally find the LRC as important as the bols and don’t like to trade without them on a chart. Like the bols it takes some getting use to understanding them.

I add and subtract indicators out of boredom but I really only look at the same old ones. Having written dozens of EA’s I’ve noticed no one indicator will make you any money. This is usually because the head fakes we see every day show up in the code of the EA as well. We learn to dodge these head fakes that take you out of the trade early such as some of the methods that have been discussed on this thread.

The break-outs, reversals and counter trend trades become a coders nightmare. I’ve seen many good coders create a bad EA because they don’t know how to trade. If a good coder learns to become a good trader he abandons the EA idea because he’s too busy making money. The experience of writing, back testing and finally going to live trading explodes the weakness of some indicators and poor methods. Some say a profitable EA cannot be written but the simple truth is a well written EA can make a Professional trader look like a newbie. You are trading against them right now and they don’t make many mistakes.

The Snake indicator on post 3478 has been redone. You might want to try yellow as the third and forth colors or yellow and gold. Don’t get bit.

Trade well and prosper,

Johnny

Headmaster111,

Master Tang speaks with great wisdom. Besides trade the hype sell the news.
Let big money show their hand. I don’t see the Europeans doing anything and the Brits don’t need a stronger currency either. The Brits are the strongest and are the most worried about inflation but will they raise it and face an even stronger Pound with an ever weakening Euro.:confused: It’s a real damned if you do, damned if you don’t setup. There is a housing shortage in Britain and this is raising existing home prices. Raising interest rates won’t help this situation either. Verrrry interesting my Dear Watson.:cool:

Trade well and prosper,

Johnny

Not tonight Mike every time a leave a trade overnight I wake to find I’m just that little bit poorer… well nearly always.

Yes I see what you mean EU is well down on the daily and weekly… looks to have hit a temporary bottom at 1.3825 (10:00 GMT) but I see no prospect of a longer term reversal on the horizon just yet. :mad:

That’s why I asked the question in email. If you trade the setup at the end of NY going into Asian. I didn’t trade the new setup. But I did try my other new strat. It would have been win number three except I had my stop too close. Looks to me like we have a couple of grails here. But need to work on the trade management.

Not tonight Mike every time a leave a trade overnight I wake to find I’m just that little bit poorer… well nearly always.

Its nice to know it’s just not me that feels this way and has this experience:D

It looks like we’ve got volatility back for awhile. Must be the governments checked their piggy banks and found it contained no coins.:eek: I listen to Volker last night the past Secretary of the US Treasury. It amazes me how dumb these guys really are that are running the country. He said he didn’t think the mortgages were a problem because housing prices hadn’t declined since WWII. What the hell were you thinking you idiot.:confused: He said he prayed a lot. If I was that dumb I guess you have nothing else but that.

You could get a $1,000,000 sub-prime loan without a job or any money in the bank. Duh!! Our crime was declining because the criminals didn’t even need a gun to rob a bank. Our regulators fell asleep on the job and nobody got fired. So now he’s proposing more regulations with the same regulators. They need more jobs so they’ll just create another group to regulate the regulators. Their going to need somebody to blame because their giving out loads of incentives to create the same mess all over again. These idiots just don’t learn.:rolleyes:

I think it’s time to find a cheap tropical island someplace. I’ll put the head monkey in charge and it will feel just like home.:cool:

Trade well and buy gold,

Johnny

sounds like a plan just make sure the monkey isnt too smart or ill get nostalgic lol

Good point.I only have one thing to add.Volker was not former US Treasury Secratary.He was former Chairman of Federal Reserve under Presidents Jimmy Carter and Ronald Regan(From August 1979 to August 1987).
Thank you.

And [B]Paul [/B]Volker was a damn good fed chief! But I wonder if JohnnyBS and getting comments by former Secretary of the US Treasury Hank [B]Paul[/B]son mixed up with ex Fed Chief [B]Paul [/B]Volker. :eek:

Hank [B]Paul[/B]son is the guy that just wrote in his book that he didn’t think the mortgages were a problem because housing prices hadn’t declined since WWII, not [B]Paul [/B]Volker.

Well being a Brit I dont know either of these guys… but always look forward to Johnnys rants… its a free country. :slight_smile:

Way ahead of you Johnny… been secretly putting away gold coins for two decades. Not in case of a crash you understand. No something far more ruiness. In case present wife decides on a divorce. Last time round I thought the judge was fairly even handed… previous wife got the the house car and kids. I got my favourite potted plant (I was insistant on that… got to draw the line somewhere :D) and a siut case full of clothes and my very own bench in the park. :smiley:

Wall street doesnt take a person seriously unless they have boom and busted three times. Take heart fellow FX’sters… its an education! :smiley:

why cant judges split things 50/50 why does it seem like its always 99.99 to .01? but on the bright side you did get your favorite potted plant :stuck_out_tongue:

Ever try to play catch with a one armed, one legged kid?

It just doesn’t work:P

lol i imagine that would be quite interesting, R Carter get a pre nup next time! :rolleyes:

edit;

3500th reply :D:D

d-pip,

Lighten up there. Yes, the name was wrong but ever since Peanut Carter was elected President I’ve called them all by other names. Volker was the S.O.B. who raised interest rates to 16.5% just as my wife and I were finishing building a house from the ground up and we needed a home mortgage.:mad: Remembering the names of idiots is not high on my list of things to do. I don’t care if they elected Daffy Duck because there’s so many Chicken Littles running around yelling the sky’s falling it won’t make a damn difference.

I just read about the billion dollar electronic fence fiasco that Congress is having built across the Mexican-US border. It has come to light that it doesn’t work. I think the electric cord doesn’t reach or somebody didn’t supply any batteries. LOL.

I don’t know why they bothered because most of the Mexicans that wanted to come here are already here. Some of them are building the fence which was probably made in China. Now they have to get back home as the jobs have all gone to Mexico.

Well they can always take a boat on either side of Mexico if they get the fence working but that will be awhile as the directions are in Chinese. Don’t anybody tell Congress about the water routes to Mexico, heaven knows what they’ll want to build next. If any of you Brits go to Washington DC on vacation I suggest you don’t drink the water. I really think it’s contaminated with some kind of funny juice.

It’s been that way for a long time actually as the decisions are somewhat suspect. In the 1860’s congress opted to supply the Union Army with new single shot rifles instead of the latest Remington seven shot repeating rifles to save on ammunition. Duh! Soldiers were cheaper then bullets I guess. In the world war they bought French junk that didn’t work after the first shot. I guess the French were the first to make “one use” throw away thingies. They’re kind of sneaky that way. Our boys had to sneak up on the Germans to steal their guns so they could shoot them.

I remember my uncles coming back from the war all had British 303 and German Lugar side arms which they got overseas. They all had a storey to tell about the stupid French guns. When you think about what was on the French’s minds it all becomes very clear. After the French talked to Congress about the guns they sure didn’t want idiots like that armed for very long on French soil. The French probably just gathered the guns up after the battle and sold them back Congress.

If you wanted a bar of soap to wash off the dirt and blood from the battle field you had to pay a dollar for it. Now where do you get money on the battle field for soap? In WWII my Step-Father fresh off the battlefield in North Africa was loaded onto a boat to Italy to continue the fight with the Germans. Having been wounded in the leg he hobbled off the boat to be greeted with donuts and hot coffee at the dock. With great joy he put his hand out for a cup to be told that will be a dollar please. That took a lot of guts to ask a man with a gun for a dollar.

If you won a medal they took the cost out of your pay which was more then one months pay. Damn stupid of you to get shot and earn a purple heart. So your choice was to send the money back to your wife and kids to survive or accept the medal. It sure didn’t pay to be a hero.

Our government officials come from a long and prestigious line of blinking idiots. The present health bill is a prime example. Let’s make a law to make it illegal not to have health insurance and fine the poor if they don’t comply. Would someone please send Congress the definition of the word poor? I think they believe it’s those dumb rich bastards that refuse to buy health insurance.
Ahh on second thought don’t bother, they didn’t believe the hundreds of consultants they have on the government payroll that advised them we were heading for a financial crisis.

I’m really not anti-American but I must admit to anti-stupidity. This is a government sponsored government designed recession. Whether they want to admit it to the American people or not they are the ones who hired the fox to guard the chicken coop on the Funny Farm. As well as the lone wolf to watch over Granny’s house. They also let the traveling salesman sleep with Mr. Farmer’s daughter. Now the Feds want to jail the poor Mr. Farmer because there’s no eggs for breakfast and he’s pleading innocence because he was on vacation with Little Red Riding Hood getting a little relaxation. Mr. Farmer’s wife returns from the fat farm in southern California to find Missy pregnant, Granny missing, no chickens in the chicken coop, Little Red Riding Hood with all the cash and her lazy ass husband in trouble with the Feds.

Now the Feds are really fried :mad:and looking for a scape goat. They had come up with bail out money so the farmer wouldn’t go bankrupt. He needed to buy more chickens to keep the supply of eggs flowing from the Funny Farm. Congress in an all night session passed a bill to insure this would never happen again.

They put together a special task force which consists of a whole pack of wolves to watch the lone wolf and the fox who watches the chickens in the chicken coop which is owned by the Farmer with the smile who’s again relaxing with Little Red Riding Hood and his wife is back at the fat farm in southern California.

After a lengthy investigation by the FBI(Feable Brained Idiots) it was determined that Granny was the culprit.:eek: Case Closed.

I’ll try to do better with the names next time d-pip but don’t bet the farm on it. That’s Little Red Riding Hood’s job to proof read this crap.:smiley:

Back to trading,

Johnny

Politicians and TV preachers.
Neither ever have enough money to get the job done.
Both know what is best for you, whether you know it or not.
And both purport they can make miracles happen.

There’s a reason those guys are all idiots, no smart person wants the job.

Well, except for Ron Paul

A true visionary there. Too bad people don’t understand how important of a message he is trying to get across.

If you’re going to make reference to specific events or individuals, then at least do (some) folks the courtesy of checking your facts before posting. That kind of detail tends to enhance a persons credibility.

After all, one of the key requirements to trading & its related tasks are based around ‘attention to detail’ are they not?

Less quantity more quality :smiley: