Hello, All!
I have a confession to make. I’ve been reading about, studying, and playing with Bollinger Bands for a while, and I’m fascinated with them. But, I’m an admitted noob, so I figured I’d post here. I’m planning on doing some some paper trading with the bands over the next few weeks. I’m looking at a couple of strategies (Trading Between The Bands for pairs that look like they’re ranging, Reversals, Squeeze Breakouts, and Pullbacks to the Center). I’m planning on posting some charts and numbers as I do some paper trading. If anyone would like to check out my work, and make constructive comments, I’d love the feedback! My hope is, after all, to get better at this!
Thanks!
Tom
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Hello, Again, All,
I forgot to mention that I only trade daily charts, as I’m only able to spend time on my forex about once a day. Thought I’d fill in the picture.
Thanks!
Tom
I’ll title this one, A Day Late, Hopefully Not a Dollar Short.
Here is the chart:
I notice that the bandwidth had gone to a low, and the bands are indeed contracting. If I had been paper trading this I would have placed the buy order yesterday (actually Friday), but I didn’t decide to start paper trading this today. I decided to place an “order” today, (see blue line for the purchase level), and placed a stop at the bottom of the candle that broke the upper band.
This, is, of course, the band squeeze strategy. I’ll look forward to seeing where this goes, and to any tips that you may have for me.
Thanks!
Tom
