I have attached a trade simulator for use in Metatrader, which you can use to try out a particular method through backtesting. The advantage of this is you can run through what you would have done on a particular method and get a report of your results - you could do the same by backtesting/paper trading. I suggest that if you are going to use this, then you try it out on a separate copy of MT4 from your live account to keep things tidy.
trade Simulator.zip (488 KB)
I’ll try and explain. Say you are trading the 5m chart. You put up a 20:2 and 20:1 boll. This will give you a center line (basically nuetral volatility) and two upper/ lower boll lines. PA will likely reverse at the 20:1 or 20:2 line dependant on volatility most of the time. The clue to a likely reversal is a wick or wicks in the upper band areas.
When the bolls are moving sideways across the monitor PA will usually hit or marginally exceed the upper/ lower bolls on the 20:2 boll before wicking. When the bolls are heading up at around 1-2 o’clock angle PA will hug or exceed the upper bolls and reversals will likely only fall back to either the center line or at most the 20:1 lower boll. If trending down the reverse at a 4-5 o’clock angle.
If you are trying to approximate a 15m boll on the 1h chart use a 5 period boll. Basically a 20 period boll is the standard setting so a 5 period boll will aproximate 15m i.e. a quarter of the periods. 
[B][I]TalonD[/I][/B]
No offence intended…
…but have you actually read und understood what [B]R Carter[/B] and [B]MioMe[/B] are trying to tell ya…?
Might give it a bit more headspace in regards to attention and thoughts.
I think I have a feel for what PA looks like in a BB I can see the benefit of also using a 20:1 boll to help define the area where PA may reverse. I don’t under stand your numbers “1:2-1:5” and what they refer to.
no offence taken at all
I’m trying to understand and absorb it all but maybe I’m a little dense sometimes?
SanMiguel, I found that trade sim in another thread. I like it, it’s a good way to practice on the weekend.
Sure … no problem. We are using the 20:1 & 20:2 boll to gage where PA will reverse and the overall direction. We can use a smaller period boll as a ‘tunnel’ within the 20 period bolls. The exact period is personal choice anywhere from 10:1 to 2:1… its your choice. I use a 2:1 and a 5:1.
Attached chart with my set up.
to clarify, that’s a 5period boll and a 2 period boll with 1 standard deviation.
Now on the 4hour charts, the bollinger bounce would still work just like they do on a 5m or 15m ?
self similarity at all scales?
I remember studying fractional dimensions (fractals) in highschool, the various time frame charts remind me of that.
Yeah…whatever you say [B]TalonD[/B].
Don’t think I’m trying or don’t think I’m dense? 
Why don’t you go and ask Tymen about that…???
He surely must be a better choice than asking me about it.
Book closed for me.
I don’t understand that reference. Something to do with that other thread that got deleted? Now I’m confused. I must be dense. Sorry I’m very literal and not good at reading between lines. Comes from being a code slinger.
Oh well, nevermind.
I got that sim working Its allot of fun I wish it were real!! Thanks.
I set up my chart as described a few posts up, its similar to what I have been doing. I just need to get used to seeing a BB with a 1 standard dev. Its strange but that one little change makes it hard for my eyes to see what PA is doing. I guess your brain gets used to a pattern and has to relearn it when something changes. I have noticed just changing the candle colors can throw me off:o. I will continue with the 20:1 and 5:1 sim and demo but I need more time with it before I use it live.
RC,
Good point. I have a question. I still retain 3/6/9 LWMAs on 5m and 15m charts. In view of what you stated here,is it still necessary to still keep LWMAs in chart with 20:1,20:2 and 1:5?
John.
TalonD,
I am convinced you are a great trader.It is just that you have not chanced to trade at the right time because of the nature of your work.You are more likely to be better off if you strategise on timing as RC suggested.
Peace.
agreed. have been concentrating on 1h mostly… mostly:rolleyes:
will pay more attention to 4h this week and see what happens. Seems like I’m gradually drifting up in time frames. Next thing you know it’ll be the dailys
That will be cool. I dont know much about dailys.Since i am using the template,i am ok with what i get.Any other pips outside that to me is windfall.
John4pips, good luck with the 20pip a day spread sheet. I call it the Matt Strat in honor of the young man who made it so successful. Oddly enough despite all the banter and bad trades I’m still on track with it myself. So good luck to both of us. Maybe in about three years we can get together for a ties worth or something. Might even whip up a batch of my home brew.
edit: Just made 31 pips. still on track. yeah I know 15M!
Thanks.I know you are a great trader by assessing your posts in this forum.Just wanted to learn a great deal from you guys.I adjusted the target pips because of my schedule and i dont use the 60weeks you guys applied.Too long for me because i trade standard lot.
I got 51pips today already.I am confortable with that.And no problem to get together.Do you live in the States or something?
Yep, I’m in the U.S. Georgia. If you’re trading a standard lot then you’re way ahead of me. But I’ll get there eventually.
Haha.I am in North Carolina.Not far at all from you.I do fly to Atlanta regularly,say, once in a month.I started with relatively good account.That is why i am using standard lot.
Besides,I have a question. What is the importance of this 5:1 bb?
Thanks
John.