Bollinger band trading with MAs

R_Carter · November 9, 2009, 5:02pm

Yes I agree. The only problem with the 5m and 15 m charts this morning was the 20:2 boll was steep up around the 1 o’clock area so it was hard to see when PA was genuinely going to reverse. I see the 0800 turn on the 5m and 15m charts that proved to be false. But the daily 20:2 boll was flat. So I waited for the likely break above it and then entered on the wick.

R_Carter · November 9, 2009, 5:31pm

Well I’m notoriously bad at this as Mike will testify but my charts are pointing to an up tonight on the Asian.

system · November 9, 2009, 5:41pm

Ah…
I see…you’ve been occupied with trade management to fill your pip bucket.

I have had an “off” today. Well, kind of. USDCAD breakout and one WTI trade. That was it. Didn’t feel like looking at PA all day.

SanMiguel · November 9, 2009, 5:43pm

R_Carter:

As you know I like two candles at the outer 20:2 boll before considering a genuine reversal. First candle to break the outer 20:2 and possibly wick. After candle close I wait for the second candle to preferably also wick and change colour before entering a trade in the direction of the centerline boll. This would signal a classic reversal of PA but often its just one wick on either candle at the outer boll easpecially on the longer TF charts.

I always take a trade on a wick at the outer 20:2 boll on the daily timed using the 1h. Sometimes PA will do a boll to boll but rarely. I just follow the 2:1 boll within the 5:1 boll and see where it leads.

I have two strats as mentioned earlier. On the daily strat I am still trading the 1h and look to the daily for an overall direction and hedge obvious reversals. On the more active trading again I use the 1h chart but am now looking to the 5m and 15 for timed entries and exits with no hedge just a straight forward trade.

You are right of course at some point it becomes obvious that PA has changed course rather than just a retrace. But using the hedge I have already locked in the max profit out of the whole move before the more permenant change of direction if that makes sence.

Thanks - always worth remembering this. I’ve been trading the 5min charts so much recently just based on 1hr SR and pure boll bounces that I forgot about these crucial parts of the system

R_Carter · November 9, 2009, 6:23pm

Well looks like I might have just called it right tonight… Mike take note. :D:D

[B]Cas[/B]

Good for you… too much PA gives you a squint. I have hit the big ‘50’. Too many ESB’s and then 05:00 falling out of bed and back home around 22:00. Got a nice place in the South of France and decided to bail out while theres life still left in the old dog. Eight of my kids tower over me… dam last time I looked they were two foot six standing on a bucket… where did the time go? Will still trade my private account of course but in a warmer environment.

TalonD · November 9, 2009, 6:33pm

Duly noted !

following it along tonight also. got a little commission artwork to work on tonight so just one eye on the chart. One of my many other endeavors…

R_Carter · November 9, 2009, 6:41pm

Mike having seen your other endeavors (its endeavours by the way… Yanks!!!) I’d say you missed your calling.

John4pips · November 9, 2009, 7:34pm

R_Carter:

As you know I like two candles at the outer 20:2 boll before considering a genuine reversal. First candle to break the outer 20:2 and possibly wick. After candle close I wait for the second candle to preferably also wick and change colour before entering a trade in the direction of the centerline boll. This would signal a classic reversal of PA but often its just one wick on either candle at the outer boll easpecially on the longer TF charts.

I always take a trade on a wick at the outer 20:2 boll on the daily timed using the 1h. Sometimes PA will do a boll to boll but rarely. I just follow the 2:1 boll within the 5:1 boll and see where it leads.

I have two strats as mentioned earlier. On the daily strat I am still trading the 1h and look to the daily for an overall direction and hedge obvious reversals. On the more active trading again I use the 1h chart but am now looking to the 5m and 15 for timed entries and exits with no hedge just a straight forward trade.

You are right of course at some point it becomes obvious that PA has changed course rather than just a retrace. But using the hedge I have already locked in the max profit out of the whole move before the more permenant change of direction if that makes sence.

RC,
Really,on a scale of 1 to 10, i will give you 9 on this. Based on your explanation and insightfulness,you are one of the very few folks who want others to learn and succeed in this forum.I wish half of the forum members were like you.
Keep up the good work.
John.

TalonD · November 9, 2009, 7:38pm

I suppose you spell color… colour too huh? you Brits!

sikday · November 9, 2009, 7:42pm

I will strongly second that!

John4pips · November 9, 2009, 7:51pm

LOL.Yeah.Britons always add ‘u’ to stuffs like that e.g Labour(Labor),
honour(honor) and the rest.

John4pips · November 9, 2009, 7:54pm

Yeah. I am just telling the truth. I like to speak up my mind all the time.Given the few times i have been on this forum,he is real a cool guy.

Sweet_Pip · November 9, 2009, 8:05pm

So do Canadians…I thought it was a French thing tho…lol

TalonD · November 9, 2009, 8:25pm

I learned a little French on a trip to Quebec once…
j aime beaucoup la bier eh

John4pips · November 10, 2009, 12:18am

That is true. i forgot.
By the way, does anyone get this free fall of GU few minutes ago? I guess Xmas comes early for me…hehehe (90 pips into 30lots).

Merchantprince · November 10, 2009, 12:54am

I had grabbed 20 pips on a Short earlier during an MA crossover at 20:15, but was already long gone when this unexpected wildness seemed to come out of nowhere in the last half hour.

What caused this, anyone know?

system · November 10, 2009, 4:30am

[B][I]R Carter[/I][/B]

Good for you… too much PA gives you a squint.

And once you got it it’s hard to get rid of it.

I have hit the big ‘50’. Too many ESB’s and then 05:00 falling out of bed and back home around 22:00.

Yeah…it wears you out, doesn’t it…? Once you hit that “twilight zone” it catches up on ya.

Got a nice place in the South of France and decided to bail out while theres life still left in the old dog.

Congrats to you. Smart move I reckon. There is more to life than trading. FX will always be there.

South of France is nice. French people know how to enjoy life.

Eight of my kids tower over me… dam last time I looked they were two foot six standing on a bucket… where did the time go? Will still trade my private account of course but in a warmer environment.

Yeah…that what happens in this business. You turn around and time has just diappeared and you wonder what happend to it.

That’s why I like to take breaks from my trading.

SanMiguel · November 10, 2009, 4:37am

Yeah it’s like removing the s from maths and changing it to math.
…or adding the s to stuffs for that matter

[I]…how US spelling came to be different from English spelling…
The Spelling Blog: British and American Spelling - spelling successfully reformed?[/I]

This happened before the language reforms I reckon:
The Battle of Quebec 1759
Battle of the Plains of Abraham - Wikipedia, the free encyclopedia

You been to Montreal? Nice place - I am due to move over there for a few months next year…in the darkest midst of winter brrr

TalonD · November 10, 2009, 6:48am

Montreal, been there once on a business trip, it was nice !
It was Autumn and all the leaves were bright colours

R_Carter · November 10, 2009, 6:52am

We do indeed.