Bollinger band trading with MAs

Beginner Questions
821

Don’t be sorry experimenting is the way to perfection.
That’s why every one is here to try to improve there methods and exchange idea’s.

I have learned something from most of the threads I have read. This one is the only one I have felt comfortable with.

The only other one is Tyman1’s, and I will probably keep using his method of entry exit on the 5m chart using STARC bands it is working for me right now.

I have seen the S/R bounce work most of the time so I am looking forward to working on that next week.

My latest discovery is that I have to be consistent with what ever I do and quit doing something different each time, I’ll never find out what works and what don’t.

John

822

If anyone wants to look at RCarter’s 4H chart it’s on post 806, I got an error trying to open it earlier but re uploaded it. I think it’s ok now.

823

What’s your weekly target if I may ask…?

Am also interested in cas’ oil 5min boll bounces but I have to say I know nothing about light crude oil, oil news report timetables, etc. so it’s not something I would trade live to start with.

I stick up some charts. IPE numbers are released every Wednesday 10:30 EST. So, either before or afterwards depending on the numbers Crude Oil starts to move like a YoYo. That’s when 5m boll bounces come into play with pre-defined T/P meaning outer BB. Once you see the charts you’ll see what I mean by YoYo. :smiley:
I don’t encourage trading Crude Oil live unless you have a grasp of it’s PA and underlying dynamics. It’s very different from trading currency pairs.

824

Using scalping methods…a very modest 100pips per week (average) of which I made more than that last week. Of course, if I could make more using medium/longer term trading then I’ll be looking at that as something to add. It suits me for the moment…plenty of people don’t use targets at all and others have lower or higher targets. Some people I’ve discussed this with only go for 50 pips a week!

825

[B]SanMiguel[/B]

I don’t use a ‘target’ as such but have to confess, I do subconsciously look for 20 pips a day :slight_smile: I figure thats a good benchmark for a day (averaged out over a week). Anymore of course is welcomed! :smiley:

826

Entered a buy 5 mins after the market opened at 2205 GMT and just closed out for 30 pips plus.

Fair bit of movement already as the trade went +5-6 pips before dropping back 6-7pips before zooming up 30+ pips…

Exited as price is well outside the upper BB on 15M and close on 1H to stepping out. That and I want to go to bed :smiley:

Maybe there’s hope for me yet… :stuck_out_tongue:

827

Nice job Red Ear, I’m in late as usual

828

Yes bounced off that 1.60 S/R line almost to the pip. Its fun trading Sunday nights must do it more often. Last Sunday PA fell through the floor.

829

Hi Robert,
How do you use multiple charts,say 5m, 15, 1h ,to determine entry and exit for this system(Bollinger band trading with MAS)? I am poor in using multiple charts.
Thanks for your help.
John.

830

Thanks TD - thought I’d get back to the serious business of garnering pips after the madness of that other thread! :stuck_out_tongue:

Its good to dip my toe in the water. Sometimes felt like the naughty kid in the corner putting my hand up to ask questions while the three wise men, yourself, SM and RC were discussing LWMAs, MAs, BBs and the like.

While I’m on a run of cheesy sayings, I believe the saying goes ‘better TalonD than never’ :smiley: :smiley:

831

[B]John4pips[/B]

It doesn’t really matter which time chart your using as they all reflect the same price action on a currency cross. However a 5m chart will give an earlier indication of a change of direction using MA but is also therefore subject to more fake overall directional moves over a longer time frame. The longer time charts will give a clearer indication of the overall long term direction but will not indicate on MA smaller price movements within the longer overall move.

So for instance, you might trade the 5m or 15m charts and go with there MA’s happy just to take 10 - 30 pips. Or you might be happier trading the 1h or 4h chart perhaps trading over several days using the MA’s for a potential bigger pip gain of 100 - 200 pips. Its really more about your trading style. :slight_smile:

I tend to use the 15m chart to pin point an entry/ exit while actually trading the 1h or 4h chart. I use 3/6 LWMA on all time charts and a 2 std dev bollinger (20 period). I wait for a line up of 3/6 LWMA on a reversal of PA at the outer bollinger bands and place a trade.

832

[B]John4pips[/B]

For instance, I entered a trade this morning on GU at 1.5938 on the 5m chart (admittedly when 3/6 had bottomed out rather than turned) and am still in the trade. The 3/6 LWMA gave a clear entry signal however at 1.5942. :slight_smile:

833

me wiseman? wiseass more like LOL
better talond than never LOL

834

I see the 5m & 15m charts are behaving well today using 6/9 LWMA and 2 std boll. If it were only this predictable everyday! :slight_smile:

835

yep, I like it like this, I’m making some pips this morning. and despite pulling a talond last night I made a few pips there too, I’m starting to get better at this, well maybe I shouldn’t say that, I’ll probably jinx myself :stuck_out_tongue:

I’ve got a 3 , 7 , and 11 green yellow red traffic light.

I just took a look at a 1m chart, steady down slope, what a sight.

836

[B]TalonD[/B]
That makes two of us. Except I’ve got 3,6 and 14 red, yellow and green traffic light. Proper order in colors so to speak. :smiley:

And a 200 SMA as an add on in pink. lol

837

reminds me of an Aerosmith song… pink is my favorite color…

I chose 3, 7, &11 because they are prime numbers… I have an affinity for primes :slight_smile:

I’ve got about 20 pips locked in with a trailing stop so I’ll go on to work and leave it unattended. Can’t loose at this point. I think that’s the best lesson I’ve learned from this thread, to move you stop to break even as soon as possible within reason, got to leave a little breathing room. Prevent a loss and lock in some pips.

838

[B]CAS[/B]

Try the 63 SMA… for some inexplicable reason PA seems to like that one as well. :smiley:

839

[B]R Carter[/B]

You’re sure right about PA and 63 SMA. :smiley: Thx.

They seem to have some kind of affinity for each other.

Interesting.

I keep an eye on those two. :slight_smile:

840

[B]R Carter[/B]

This system with BB, LWMAs, MAs, 5m, 15m, 1h, 4h, S&R and color candle changes is so productive that it is almost frightening. :smiley:

Thanks a million. :slight_smile:

cas