Hey pipbandit… it’s pip bandit here…lol
Sorry when i was browsing the forum and seen your name i just had to laugh and post… we have something in common.
Anyway looks like you’re doing great with bollinger… me i’m an ichi man myself. Spent the last 3 years with ichi, started off with bollinger bands probably like everyone else who starts off in this market.
Heh… logged on today and was wondering how the hell I posted on the 3rd page. Didn’t think I was that drunk last night. All is much clearer now.
You are doing really well with this nice work. Its great to see real trades and not just a lot of hot air.
Good work! Here’s my two cents worth on using multi-lot for your trades. You will notice your trades occur in two types, those with long BB Walks that may yield 50 pips or more, and others that never break into BB walks and yield fewer pips or even a small loss. This will vary for different traders and different methods and different time frames, but for your trades, those that breakout into a BB walk are good candidates for multi-lot. Using multi-lot for trades not moving into the BB walks would not be recommended. Just my opinion, for what it’s worth.
Thanks for the input Graviton. Perfectly logical reasoning behind it. I’ll be looking to incorporate it into the BB walks though they’re being a little elusive for me lately 
Trade 9 - 02/08/2010
Pair: USD/JPY
Timeframe: 1 Hour
Entered a short trade in a squeeze with the CBL drawn from the low of the Extreme Candle and the Stop placed at the high of the same candle. Price dropped and TP1 was hit after a few hours for +16 pips. I was pretty nearly stopped out when PA spiked up after the Dow opened up but continued my way not too long after. I was hesitating about whether to close at B/E or not for the 2nd position but figured with USD getting hammered across the board I’d stick it out and see what happened.
TP2 was hit in the next hour for +38 pips after accounting for spread. Decided to close at this point as it didn’t look like there was a BB walk developing. Both of the Outer BBs were turning in so I’ll wait and see what comes before entering another trade.
Total P&L: +54 pips
R/R: 1.59
Account Balance: +0.54%
Overall Account Balance: +5.15%
Trade 10 - 03/08/2010
Pair: EUR/JPY
Timeframe: 4 Hours
Went short as per the CBL entry candle as shown above. Stop was placed at the high of the Extreme Candle. Was hoping for a turnaround from yesterday’s advance but never really materialised in this case. Came close to getting TP1 but to be honest I think the only thing that saved me from getting spanked on this one was Japanese Fin. Minister not saying anything about Yen strength which gave investors the confidence to drive down the USD/JPY. If it wasn’t for that I think this pair probably would’ve followed the EUR/USD advance more closely this morning. So closed out the trade at B/E while the going was good.
Total P&L: +0 pips
Total Account Risk: 0.96%
R/R: 0.00
Account Balance: +0%
Overall Account Balance: +5.15%
This is building nicely, good stuff.
Interesting, my EUR/JPY extreme candle wouldn’t have hit the BB, it was off by 15pips even though the candle high was 114.177 only 3pips difference to yours.
Hmm, that’s strange. I’m using the standard 20,2 Bollinger Band in the Netdania java platform while at work. I’ll check out my MT4 account when I get home and compare. You wouldn’t think there’d be that much of a difference.
Trade 11 - 03/08/2010
Pair: EUR/GBP
Timeframe: 1 Hour
Went short at the entry candle CBL line once the Outer BB’s didn’t look like they were expanding so much. Entered 2 positions of 2 mini lots each and drew the stop line just a couple of pips higher than the recent highs for the 3 candles. TP1 was hit for +7 pips and after that began the slow grind downwards to what I hoped would be TP2.
Had to go take care of some stuff so set the 2nd position’s stop to breakeven at this point thinking it would be safe enough give how it’d taken -hours- to grind down that far. Sure enough stopped out about 30 mins later. That’s the way it goes sometimes I guess.
Total P&L: +7 pips
Total Account Risk: 0.57%
R/R: 0.23
Account Balance: +0.13%
Overall Account Balance: +5.29%
Trade 12 - 04/08/2010
Pair: GBP/CHF
Timeframe: 1 Hour
Went short during a squeeze at the CBL drawn the Extreme Candle cut in half. Entered 2 positions of 1 mini lot each. Stop was placed at the high of the same candle.
TP1 was hit relatively quickly for +16 pips. Price action became pretty choppy after that with price taking 8 pip dips and jumps and I decided to close the trade out when it got near the lower Outer BB for the second time. Have to do some work and wouldn’t be able to monitor the price and although I could move the stop to breakeven and let it play out I’ve been stopped out lately a few times like that and I’m not sure price is going to go much lower given how GBP/USD is holding up. So figured I’d just take what was on the table and move on.
Total P&L: +56 pips
Total Account Risk: 0.68%
R/R: 0.78
Account Balance: +0.53%
Overall Account Balance: +5.85%
Trade 13 - 04/08/2010
Pair: EUR/CHF
Timeframe: 1 Hour
Went short at the CBL drawn from the low of the Extreme Candle. Entered two positions of 1 mini lot each. Stop was placed at the high of the Extreme Candle.
Similar to the GBP/CHF TP1 was hit quickly and I closed out the trade completely after it hit the lower Outer BB in the hour following TP1. Missed the line itself by a couple of pips as price bounced up pretty quickly from it. Again I could’ve left it open to leave it play out with the stop at break even but figured I’d take my profits and move on as I couldn’t monitor the trade to my liking.
Total P&L: +41 pips
Total Account Risk: 0.38%
R/R: 1.03
Account Balance: +0.39%
Overall Account Balance: +6.26%
Trade 14 - 04/08/2010
Pair: AUD/USD
Timeframe: 1 Hour
Entered a short trade just above the CBL - 2 positions of 1 mini lot each. Placed the stop a little above the high of the Extreme Candle. Was hoping that the Aussie would follow EUR & GBP down (which I’d missed). Probably should’ve stayed out of this trade seeing as it hadn’t gone down along with those other two. Commodity currencies actually held up well and I didn’t catch a decent retrace at all. Another clue was that the upper Outer BB was expanding a bit too much for my liking. As price hadn’t reached the Mid BB and retraced I closed at breakeven.
Total P&L: +0 pips
Total Account Risk: 0.43%
R/R: 0.00
Account Balance: +0.00%
Overall Account Balance: +6.26%
Trade 15 - 04/08/2010
Pair: EUR/JPY
Timeframe: 1 Hour
Another short trade - 2 positions of 1 mini lot each with the stop drawn a little above the high of the Extreme Candle. Pretty similar result to the previous Aussie trade where price retraced some but not even to the Mid BB. As a result I closed out both positions at breakeven. I’d been hoping that the China news on their housing market might weigh a bit more heavily but with the Dow holding up and some decent US figures this trade wasn’t going to work out today it seems.
Total P&L: +0 pips
Total Account Risk: 0.38%
R/R: 0.00
Account Balance: +0.00%
Overall Account Balance: +6.26%
Trade 16 - 05/08/2010
Pair: AUD/USD
Timeframe: 4 Hour
Had another go at shorting the Aussie - this time on the 4 hour chart. Went short at the CBL with the stop placed a little above the high. Was a counter-trend trade so was hoping mostly for just TP1. In the end this was missed by 1 pip before turning around. I should’ve probably just taken it there and then but let it go - other pairs were moving up so in hindsight I should’ve seen this and taken what profit was available. Closed out a little before breakeven. Price was hardly moving at this stage - I guess the upcoming Aussie monetary policy release was keeping things relatively quiet.
Total P&L: +2 pips
Total Account Risk: 0.43%
R/R: 0.04
Account Balance: +0.02%
Overall Account Balance: +6.28%
Trade 17 - 05/08/2010
Pair: EUR/JPY
Timeframe: 1 Hour
Went long at the CBL drawn from the Extreme Candle cut in half. Stop was drawn from a little below the low of the same candle. TP1 was hit for +14 pips pretty quickly and price kept rising after that so seemed to be on to a good trade at this point.
Upper Outer BB was hit but the BBs were expanding nicely at that time so thought I was perhaps at the beginning of a walk so kept the position open. Was a bit of a retracement so I added another position to try and catch a good few pips if we were on a walk. Stop was placed at the breakeven point of 1st position. Price seemed to be going my way for a while with P2 at +60 and P3 at +15 but then bad US jobs data came and price dropped like a stone stopping me out of both open positions. I’d been hoping that some upbeat comments from Trichet might offset the US news but not to be. Maybe should’ve closed earlier looking back and taken a full breakeven trade at worst. Decisions made today haven’t panned out for me - the turnaround in the markets would’ve turned my previous Aussie trade into a winner. Oh well!
Total P&L: -27 pips
Total Account Risk: 0.86%
R/R: -0.72
Account Balance: -0.25%
Overall Account Balance: +6.01%
Trade 18 - 05/08/2010
Pair: EUR/USD
Timeframe: 1 Hour
Went short at the CBL. Placed stop at 1.32 only seeing as we were in a bit of a freefall. Hit TP1 quickly and moved stop to breakeven after price continued to drop as didn’t want to take any sort of a loss in case of a turnaround as could only half-monitor the trade. Price did then turn around and just clipped my SL exactly closing the 2nd position out at breakeven.
Total P&L: +14 pips
Total Account Risk: 0.38%
R/R: 0.37
Account Balance: +0.13%
Overall Account Balance: +6.15%
Trade 19 - 05/08/2010
Pair: GBP/USD
Timeframe: 4 Hour
Went long at the CBL after the drop earlier on was retracing. As I’ve noticed that a good percentage of my trades reach TP1 I entered a position of 3 mini lots with the intention of closing out 2 of them once TP1 was hit and leaving the third to run if things played out that way.
If it was any other day I’d stick with the trade as the setup looked good for a run to the mid BB but with NFP tomorrow and the hit I got earlier in EUR/JPY from bad jobs data I decided to go cautious and close out the trade now at a small profit and wait to see how things play out tomorrow.
Total P&L: +14 pips
Total Account Risk: 1.55%
R/R: 0.13
Account Balance: +0.20%
Overall Account Balance: +6.36%
This is great
Trade 20 - 06/08/2010
Pair: USD/JPY
Timeframe: 1 Hour
Despite the upcoming NFPs I thought I’d try to grab a few pips from a tight USD/JPY squeeze. Thought the general breathing of the market might make it work. Went short at the CBL with 2 positions of 2 mini lots each given how tight the stop was (at the extreme candle high).
Price dropped a bit further but never really looked like it was going to make it to the BB - seemed to have gone into stagnation mode before the NFPs and was stuck in a 5 pip range. Upper Outer BB starting to turn up a bit too much for my liking also so decided to close out the trade for a small profit.
Total P&L: +4 pips
Total Account Risk: 0.45%
R/R: 0.17
Account Balance: +0.08%
Overall Account Balance: +6.44%
