Hey Fx,
Welll I have an excel with the backtest I made for daily and 4h trades. I will post it here as soon as I can.
Hey Sacha
Yes as soon as price touches the bottom band or come close to it and the MIDDLE BAND IS POINTING UP, I place an entry order above the middle band. That is the set up.
When you have more experience you will start making trades when the middle band is not neccesarily pointing up, but for now just look at high probability trades: middle band in your favour. Sooner you will start spoting set ups quickly and get very familliarized with the entries.
happy trading!
Daily GBP/CHF is currently showing a good setup for a long trade. The current candle is almost touching the lower BB, middle BB is in uptrend and the daily trend is up too. Would you agree?
GBP/CHF daily , how close does it need to get? looks like it’s still a long way from the lower boll. On my chart it looks like it’s about 100 pips below center and almost 200 to get to the lower.
Great thread, Gas…
I’ve already learned about your system from elsewhere, but this thread really clarifies. Just started DEMO trading last month on D1…using basically your system. So far mixed results, but then I’ve missed some obvious entries whilst doing my bread & butter H1 trading. I need to get more diligent about scanning the D1 charts for ALL valid entries…
Thanks for sharing!
Hey RMS
Daily trades are good, but you will only get a few. I would suggest you look for 4h entries, alwasy trading in the direction of the big trend.
Hey Sascha, looking at daily chart of GBPCHF, the price is just below the middle band, and very far away from thw lower band, so it is not a valid set up.
I’ll do that…I look at the H4 charts as a matter of course in my regular trading…but haven’t taken real-money trades on H4 yet…All of my real $ trading thus far is on H1…but that requires a lot of screen time everyday to be consistently profitable.
This is a screenshot of my daily chart for GBPCHF (Oanda Practice Account):
As you can see, the low of the latest candle is pretty close to the lower BB. Is your chart looking different? My BB settings are 20,2.
Thanks for your help!
Cheers,
Sascha
Indeed…it requieres a lot of screen time, speciall during the overlap of london and Ny. But it can be really profitable. I used to trade on 1h charts, but I changed to 4h and daily because it was less stress for me 
Hmmm, looks quite different. Maybe it has to do with different opening/closing times of candles between our brokers, I cannot think of anything else… Which broker and tool are you using?
I use alpari uk, metatrader.
I think TalonD has the same chart as me, so maybe you should review your daily charts. Difference in open/close shouldn affect that much daily charts.
TalonD, are you also using alapri and metatrader?
Anyone else in this thread using Oanda and can comment on this? I would not know what to review, my screenshot is showing a daily chart with BB setting of 20,2. Any help or ocomment would be appreciated
Hi Sascha,
I use Oanda. Both web and MT 4. I checked and you are right there web platform is different than MT 4. I use there MT 4 for charting so I suggest you try Oanda MT 4. My MT 4 chart is identical to Gas.
If I draw BB on Oanda web platform then chart look like yours which is incorrect.
Cheers,
Hi Gas,
What are your thoughts on Taking Profit? Should we use Support and Resistance levels?
When do you bring your Stop to BE?
I know it depend upon different pairs and how volatile they are so lets say for example AudUsd when will you move your Stop to BE?
Regards,
Thanks FX280. Going forward, will use MT 4 with this strategy…
Hi Sascha
I use IBFX metatrader demo to look at charts and Oanda to place trades. I just noticed that the bollinger on my Oanda looks a lot different to the one on the IBFX demo. On other pairs besides just this one. I don’t know why.
I was playing around with the settings on the Oanda bollinger, Try a setting of 17 instead of the standard 21 and it looks pretty close to metatrader. Maybe it’s because these mt4 brokers show a sunday candle and Oanda java platform doesn’t.