Bollinger band trading with MAs

[SanMiguel]

Those of you using the 1hr crossover, how do you handle news related events where the PA remains in the respective bollinger half afterwards.
Example: 9LWMA crosses DOWN over the 1hr middle bollinger but because it was from a news report, you didn’t trade it. 1hr after PA remains in the lower half of the bollinger. Do you try to get in on a retrace?

Got a nice short going from 1.6736 today (1hr spike outside 20:2, entry on 15min chart), wondering whether to hold onto it as price has crossed the middle boll.

[R_Carter]

Those of you using the 1hr crossover, how do you handle news related events where the PA remains in the respective bollinger half afterwards.
Example: 9LWMA crosses DOWN over the 1hr middle bollinger but because it was from a news report, you didn’t trade it. 1hr after PA remains in the lower half of the bollinger. Do you try to get in on a retrace?

I can only speak for myself but I entered at the outer 20:2 boll on the 1h short. The 4h looks to be setting up for a longer term down (3/6/9 LWMA) and a turn at the 20:1 upper boll. Also nice wick on the day chart. So will stay in and if a significant PA reversal on the 15m will hedge my longer short.

[TalonD]

Long term trend is up, look at a daily or weekly chart. but I’ve got the short on too, but I got in late as usual due to being asleep while you guys were up trading

[SanMiguel]

I can only speak for myself but I entered at the outer 20:2 boll on the 1h short. The 4h looks to be setting up for a longer term down (3/6/9 LWMA) and a turn at the 20:1 upper boll. Also nice wick on the day chart. So will stay in and if a significant PA reversal on the 15m will hedge my longer short.

For the longer term positions are you still moving your stop to BE around 20pips? Usually the longer term positions require a slightly wider stop or is that the function of the hedge, to reduce the risk on the potential long term trade?

[SanMiguel]

Got a nice short going from 1.6736 today (1hr spike outside 20:2, entry on 15min chart), wondering whether to hold onto it as price has crossed the middle boll.

So much for that short :mad:
Should have opened 2 trades and closed 1 for profit other at breakeven

[TalonD]

That dip didn’t last long did it? Hope you’re all doing well on the long. That’s one that I finally cought early. Maybe that case of talonditis is clearing up.

[R_Carter]

For the longer term positions are you still moving your stop to BE around 20pips? Usually the longer term positions require a slightly wider stop or is that the function of the hedge, to reduce the risk on the potential long term trade?

On the longer trades I dont use a SL but have an opposite order (hedge) set up at between 20 - 50 pips dependent on TF chart rather than a stop. Shorter timed trades today have been ok but longer term … yep its been in hedge mode all day!

[system]

GU…1.7043 major resistance…next stop…? No…? :D:D

[TalonD]

It will hesitate some, but it will get there, but then will it keep on going ?

[system]

It will hesitate some, but it will get there, but then will it keep on going ?

I’m short since 1.6872…PA went too far. Looks like GU can’t even hold 1.6841 support.

[Merchantprince]

I’m short since 1.6872…PA went too far. Looks like GU can’t even hold 1.6841 support.

Still a lot of movement for a Monday afternoon, don’t you think? Perhaps if the ma crossover we get a retrace to the 1.6700 S/R line?

EDIT: Actually I drew that line on the daily and it doesn’t look like much of one. 1.6586 looks more solid.

[John4pips]

@Merchantprince

I’ve also been with FXCM UK from the beginning with a Micro account funded with $500. I haven’t withdrawn any money yet, but having a UK account is actually nicer than a domestic one, as there have been some complaints with the slower check payouts on the U.S. accounts - but the UK does withdrawals by wire transfer.

I haven’t done any withdrawals myself yet, but I can say I’ve never had any problem with orders filling and closing instantly and the client (Trading Station II) is my favorite of all the ones I’ve used. I can quickly add and customize indicators and can drag Entry orders, Stops and Limits easily right on the chart. I actually don’t like MT4, I find it very clunky to use compared to TS.

If there’s any slippage or any other issues with FXCM UK, I’ve never seen it. But I’ve only been trading a few months, so that’s my two cents.

Thank you for your response.I have opened fxcm today. If you dont mind,you may want to consider trading oil in December.It is likely to be lucrative next month.
John.

[TalonD]

I’m short since 1.6872…PA went too far. Looks like GU can’t even hold 1.6841 support.

What did you see that you decided to go short at 6872?

I closed my long when I saw it starting to come down with a change in color aroud 6854 , ddn’t get out at the peak like you did.

I didn’t go short since it’s getting close to the slow evening hours and I wouldn’t expect a lot of movement and trying to keep to the longer time frames.

[TalonD]

The definition of an ‘expert’ someone who used to be a drip under pressure.

I’m not an expert yet

lol

[system]

What did you see that you decided to go short at 6872?

Daily S3 = .6872 …@first bouce I went short

PA hardly goes further than daily S3.

PA went outside upper 3:20 on 5m,1h,4h.

Also GU made new high today @1.6873 since 08/08.

That are enough reasons for me to go short.

[TalonD]

hmm ok, I see all that, except the S3, I need a better pivot point indicator for my metatrader.

didn’t miss it by a whole lot anyway.

[Shr1k]

I have been reading and following along with this thread and also trying the to use the info here. I have not done that well. I think I am looking at to much info for my little mind to work with.

I am going to take what I have learned here and put it to use on the JPY pairs I like, on the small time frames I like. I will trade off the m1 and m5 depending on volume. I will put a 20:2, 5:1 and 60:2 bb on the chart I will take a look at h1 before I start to see where price is at. Then I will hammer out a bunch of small trades for an hour or so a night. when I am done I wont have to wonder how any of my trades are going.

I will keep reading this thread and following GBP/USD I like to see what it is that is triggering the more experienced traders to take a position.

[Merchantprince]

Skr1k, I feel the same way. There have been so many changes and variants to the original basic idea I’m not sure I’m doing it right, either.

I have 2 and 4 period LWMAs on the Daily, 20 and 50 EMAs on the H4, 2 and 4 MAs on the 1H, 7 and 14 LWMAs on the 15m - and 63 MA on all charts but the Daily. Obviously, I also have the standard Bollinger Bands on all the charts, including the 5 min.

I have just been placing Long orders when the MAs crossover upward and Short orders when the MAs crossover downward. I lost money on a positional trade when it looked like a crossover on the Daily (it went crossing over right back the next day) and I lost money when I panicked out of a trade that looked to be going sour when in fact it turned out to be a winner. I have to say I have been hitting more than I’ve been missing, but I’m just not sure if I’m doing it right.

My only regret is I keep missing out on all those TalonD 1H crossover trades I set up on a special chart all it’s own. I check them afterward and each one I miss are killer pip gains. :o

[TalonD]

My only regret is I keep missing out on all those TalonD 1H crossover trades I set up on a special chart all it’s own. I check them afterward and each one I miss are killer pip gains. :o

I don’t follow those 1h trades nearly as well as I should. but I catch a lot of them. Today was sure a nice ride.

Definately there’s been a lot of different things, various MAs and settings. That’s why I try real hard to stick to just the 1h.

Shr1k, good luck, check in once in a while and let us know how it’s going.

[John4pips]

@Shr1k

I have been reading and following along with this thread and also trying the to use the info here. I have not done that well. I think I am looking at to much info for my little mind to work with.

I am going to take what I have learned here and put it to use on the JPY pairs I like, on the small time frames I like. I will trade off the m1 and m5 depending on volume. I will put a 20:2, 5:1 and 60:2 bb on the chart I will take a look at h1 before I start to see where price is at. Then I will hammer out a bunch of small trades for an hour or so a night. when I am done I wont have to wonder how any of my trades are going.

I will keep reading this thread and following GBP/USD I like to see what it is that is triggering the more experienced traders to take a position.

Let me be honest with you.Some of the folks in this thread are professional traders with considerable experience. Dont follow them blindly else you will miss the road.Just stick to one strategy and learn everything about that strategy.By the time you know the intricacies of that strategy,all other clues will fall into places through practice.And you can then build on it.Most folks run into lose in forex not because they are not smart but because they dont take the time to learn about the BASICS.Basics are building blocks of success in forex.One step at a time.RC,SM,CAS and the rest are in their own league.I dont compare myself with them.I just ask for some clarification when i am confused about certain things.
Hope this helps.
John.