Not a Bollinger DNA trade this one. Just tried to play the same trade as before but this time from a lower starting point. After spread went long at 1.2905 with two positions of 2 mini lots each. Stop placed again at 1.2860.
I’ve heard it said it’s not a good idea to try the same trade again and it looked like this was the case here as price dropped rapidly. Decided to hop out once price got back to breakeven and look for other opportunities.
Total P&L: +0 pips
Total Account Risk: 1.47%
R/R: 0.00
Account Balance: +0.00%
Overall Account Balance: +22.85%
Another non-Bollinger DNA trade. Went long in this pair once the price had dropped down to the 84.00 level. Entered at 84.05 with two positions of 2 mini lots each. Stop placed at 83.75.
Price rose up a little and with the FOMC minutes coming up and an open USD/CAD trade I decided to get out of this one for a small gain at 84.14.
Total P&L: +18 pips
Total Account Risk: 0.98%
R/R: 0.30
Account Balance: +0.29%
Overall Account Balance: +23.21%
Went long with this pair at the CBL which was drawn from the Extreme Candle cut in half. Stop was placed at 83.70 for some breathing room. Entered with 2 positions of 2 mini lots and 1 mini lot.
Price was hanging around the 84.00 level until the ADP employment numbers came out. These were worse than expected so I decided to close the trade early for a small loss as price began to drop quickly. I still have my USD/CAD short open from yesterday which is going well and didn’t want to see a chunk gone from that. Price has since come around again but I would’ve been stopped out if remained in the trade so worked out ok. The mistake on my part was to enter the trade not too long before the news release.
Total P&L: -18 pips
Total Account Risk: 0.78%
R/R: -0.28
Account Balance: -0.22%
Overall Account Balance: +22.94%
I just have question. As I studied Tymen’s BB DNA , there are 3 types, OO,OM,RO which are either on BB bubble or sausage which I cant find any examples in your trading but only on squeeze area. is it more easy to trade on squeeze rather than on bubble or sausage?
Hey PipBandit. This is a situation I hit a lot where everything looks perfect on the 1H TF but the 4H AND daily trends are against the trade. Overall you’ll probably win more pips than you lose taking these trades, but I find I get a better w/l ratio if I pass on those 1H trades that look good on the 1H but that are against BOTH the 4H and daily trends. That’s just my experience and yours may be different. I hesitate to say anything since you have done so well I wouldn’t want to mess you up, but for what it’s worth, that’s just been my experience. In any case, you have had a fantastic late summer trading month. Many pro traders would be very jealous. Thanks for posting your charts and discussion. I’m sure it’s very helpful to many
For me, I prefer to look for my entries during a retracement in a squeeze with the CBL drawn from the high/low of the extreme candle or from the extreme candle cut in two. I don’t blindly enter a trade just because the CBL is pierced. I’ll usually scan across the timeframes and the markets to see if the potential trade agrees with how I think things are going. Though having said that I don’t automatically discount a counter-trend trade by any means.
I’ll enter with 2 positions and look to close the 1st when the price hits the Mid BB (an OM trade). I’ll then look to close the 2nd position once the price hits the Outer BB (an OO trade) if it manages to get there. I usually load up my 1st position with 2 mini lots and my 2nd position with 1 mini lot as I find that I manage to hit the Mid BB a good percentage of times. I’ll then often move my stop to breakeven on the 2nd position to remove any risk of loss.
If the Outer BBs are expanding when the 2nd position hits the Outer BB I may hang in the trade and not close it in the hope of catching a BB Walk. I haven’t caught many of these though yet to be honest. I’m still trying to work on getting my exits right too. I’m not really following the rules of the method and I’m probably jumping the gun too often. Need to work on being more patient and letting things run more.
Thanks for the advice Graviton I take your point alright about the 1H trades. I try to take a broad view of what’s going on before entering though sometimes I’ll just shoot for a Mid BB trade anyway even if 4H and Daily are against me. I find that it often works out for me so the win % is good though the R/R on such trades is typically pretty poor. I usually go for those Mid BB trades where the difference between the price and the Mid BB is not too big so I don’t get murdered if it goes wrong on me e.g. USD/JPY.
I’ve started reading through your thread now and will be looking to incorporate some of it hopefully to try and catch bigger moves and enhance open trades while in progress.
Not a Bollinger DNA trade this. Entered with a single position yesterday evening of 3 mini lots at 1.0662 as it looked like this pair had hit a triple top at this level. Price dropped down some not long after entering the trade and I moved the stop to breakeven to let it run overnight. When I got to the trade this morning price had hit the Outer BBs but these looked like they were expanding so waited to see if a BB walk developed. What with good Aussie and China data overnight and some decent figures in Europe and later in US this led to some strong rallying in the stock markets and the USD dropping nicely. Decided to exit the trade once it hit the 3.3 dev and started to come back a bit.
Total P&L: +148 pips
Total Account Risk: 0.93%
R/R: 3.89
Account Balance: +3.60%
Overall Account Balance: +27.38%
Went short a couple of pips before the CBL trying to catch a Mid BB trade. Stop was placed at 1.2840 and entered with 2 positions of 2 mini lots each. The 4H chart wasn’t really agreeing with the trade and with the upcoming ECB rate decision I didn’t plan on holding onto this for long.
Price rose up and came within 1 pip of my SL. After it dropped back down some I decided to close out at a small loss. Probably should have just stayed out of this trade completely to begin with but couldn’t resist having a little go.
Total P&L: -10 pips
Total Account Risk: 0.72%
R/R: -0.22
Account Balance: -0.16%
Overall Account Balance: +27.18%
Went short the candle after the Extreme Candle yesterday afternoon. Entered 2 positions - 2 mini lots and 1 mini lot. Stop was placed at 0.9140.
Nothing much happened with this trade for the rest of the day so I ended up letting it run overnight. When I woke up this morning price had dropped down some so exited the trade what with NFPs coming up in a few hours.
Total P&L: +30 pips
Total Account Risk: 0.87%
R/R: 0.41
Account Balance: +0.35%
Overall Account Balance: +27.63%
Went short 3 candles after the Extreme Candle. Had been waiting for some news events to clear. Entered with 2 positions - 2 mini lots and 1 mini lot. Stop was placed a little above the high of the Extreme Candle.
TP1 was hit very quickly and closed out the first position for +14 pips. Moved stop down a couple of pips to make an overall breakeven trade and let it run overnight. Price though rose up this morning and stopped out my 2nd position. I should’ve closed out it sooner given how price action and the markets in general were looking.
Total P&L: +0 pips
Total Account Risk: 0.71%
R/R: 0.00
Account Balance: +0.00%
Overall Account Balance: +27.63%
Went long with this pair after the NFP news had settled down a bit as seemed like the news might give a boost to risk and the futures were looking good. Entered 2 positions of 2 mini lots and 1 mini lot. Stop was placed at 1.28 which was a little below the low of the swing low during the NFP release.
Once the Dow opened up +100 price rose up rapidly and closed out the first position at the same level as the swing high of the candle during the news release. Let the 2nd position run to see what happened. After the Dow started to turn I figured I’d just close the 2nd position. With the long weekend coming in the US liquidity is going to be gone soon enough and I don’t want to hold over the weekend.
Total P&L: +61 pips
Total Account Risk: 0.85%
R/R: 0.91
Account Balance: +0.77%
Overall Account Balance: +28.61%
Waow, very good job , clean trades and good explanations.
The result is impresive, + 28% in 10 days…:eek:
Continues like this, trade clear and simple explanations and detailed.
Best regards, Didier.
Didilut - it’s actually 28% in 6 weeks not 10 days. And they’re only demo trades for now. I’ll switch over to live after a few more months of testing. If I can get the same sort of return live I’ll be delighted.
Went short with this pair after the Extreme Candle right at the beginning of the squeeze. Stop was placed a little above the high of that candle. Entered with 2 positions of 2 mini lots each.
TP1 was hit almost straight away which wasn’t much surprise given the small distance between the entry and the Mid BB. Price dropped a bit more but TP2 wasn’t hit and price reversed. Ended up closing the trade at the initial entry point for a small loss on the 2nd position. With the low US liquidity in the afternoon today this pair was going absolutely nowhere for hours and I missed the good moves in other pairs.
Only other trade going on at the moment is an USD/JPY long at 84.18. Going to have to hold this one overnight to see how it works out looks like.
Total P&L: +2 pips
Total Account Risk: 0.40%
R/R: 0.08
Account Balance: +0.03%
Overall Account Balance: +28.65%
Wow!!! Pipbandit you should be called the PipHoover as you are just sucking up those pips…even in the no trade zones!!!
Keep up the good work. I think it is really great to see live trades bang up to date then we can all associate the charts with our own and learn from it.
I have to say, there were some trades that you took that I would have thought the price was going to go the opposite direction as they were just outside the squeeze and looking like a BB walk but you acted on news and market sentiment to take some great pips.
PS When you go to trade live with real money it will interesting to see if you actually get some sleep as I know that I can’t stop thinking about overnight trades. I even have dreams about them! Sad but true
I take your point about the overnight trades. Almost always in those cases I’ll have the risk tightly managed. A good percentage of the ones I’ve let run overnight I’ve had stops at breakeven. Or at worst I’ll stand to lose only a little if the trade goes against me. Most of the times I end up holding overnight it’s due to the trade being in some profit but not at my TPs yet.
Went long with this pair once it looked like a retrace was on the cards in the candle after the Extreme Candle. Stop was placed a little below that candle for some breathing room. Entered 2 positions of 2 mini lots each.
Price rose up for a bit and came close to TP1 but then reversed fairly quickly. Was a bit busy in work and wasn’t monitoring things all that closely but I had the chance to close the trade out at breakeven. Passed it up and ended up closing a short while ago for a small loss. 4 Hour charts aren’t looking good for EUR strength with the Outer BB expanding some. There’s some fairly important news events tomorrow for EUR and GBP so I’ve no idea which way price could go tomorrow - rather than potentially a lot more by getting my stop run I’m getting out now instead for a small loss. Also still have my USD/JPY long open which consists of a couple of entries so that’s enough risk for me right now.
Total P&L: -22 pips
Total Account Risk: 1.15%
R/R: -0.30
Account Balance: -0.34%
Overall Account Balance: +28.21%
