I like the idea of only taking trades outside the bollinger bands. That keeps you out of the choppy markets. Good deal! How many pips have you made using this system in the 4 months , how many pairs are you using, and what is your average loss like? Thanks, Ron
Hi FxSterling,
All your questions are answered at the 1st page of this thread. =)
Feels Free to take a look.
As for ADX indicator, its quite a good idea, will tried to test it when the PS dot is inside the BB.
Best Reg
Chin Liang
hey icy i was just wondering how much capital you used to start, how much leverage you use, and how long youve been using this system and an average of your profits…ive actually looked over the past charts and realize that almost every time the dots have been outside the bb, it has resulted in a profitable trade. could you also please let me know of the correct settings of the psar and bb you use. im new to forex (actually started demoing 2 days ago) and ive tried many systems already, and ive actually brought up my account $120 using a $5000 account and 50:1 leverage. Id like to try many more systems to see which ones work best for me. im currently in construction and dot wanna do it anymore lolol, so im trying this. thanks a lot.
way2muchtalent
Very interesting system. I like it very much. I’m gonna do some backtesting with it and see how it responds to various pairs. I’m always open to more solid entries in addition to what I trade right now. Thanks for sharing! It is very much appreciated.
Just out of curiosity have you tried moving stops up say 5 pips above/below the PSAR values? I mean, PSAR was originally designed for stop loss management, so I think they could be used quite adequately to lock in profits and reduce risk as the trade works in favor. (I’m a big risk management freak!)
Just a thought. Cheers!
After a couple hours backtesting a 60 and 240 minute chart I actually found better results using .01, and .1 settings on the PSAR rather than the default .02, .2. It seems to catch the bigger trends and there are more entries outside of the bollinger bands.
Check it out and see what you think.
Congratulations icycloud for such a simple method. Im new to forex so its nice to know there are helpful people like you out there. I just have a few questions for your method.
I have noticed that a PS can change from the top to the bottom in the middle of a period (candlestick) so if your on the 4h chart, at what point do you say to yourself that it is certainly going to remain outside the BB?
Which leads me to my next question. When exiting a trade, you say that it has to be on the opposite side of your trade. Once again my question from before; at what point are you convinced that it will stay on the opposite side and not change go back to the right side of the trade?
The answers would also help me with backtesting. When i backtest at what point of a 100 pip candle should i consider an entry (or exit)? This would also help me to conduct some backtesting.
Im sorry if my questions seem elementary. Im really new to this. Somehow everyone else in the forum seems to understand and are asking different type of questions. So if any of you have an answer i would love to hear it.
Thanx
Hi way2mountain, i started my demo trade using 5k as capital. All my trades are 1 standard lot. The Setting of those 2 indicator are default and can be found at the 1st post of this thread.Hope this helps.
Best Reg
Chin Liang
Personally, you can adjust your stop loss if you feels comfortable with it.There is no hard and fast rule on how many pips you wanna place. It depends on your “feel” and comfort for your level. As for the testing for the PS .02 and .2, I have not tested the system yet. If it will had more efficent and effective result than the default PS, i would gladly change the setting!
Best Reg
Chin Liang
Hmm… easy question are hard to answer… just like a student asking a teacher why 1+1=2 ?. LOL… Neverthless i try to answer.
A PS dot [U]usually[/U] appear outside of BB when the candle is either at the near top of BB or near Bottom of BB.
As for the exiting of a trade, i believe Greed kills and its a form of act that will destory you. sorry from my preaching . So whenever a PS dot appear opposite side you would just exit your trade. True enough, there are false signal when you exit your profit too early , but i believe Greed kills, so just take the profit and enjoy the rest of your day with your family
Best Reg
Chin Liang
Thanks for explaining to me 1+1 = 2 icycloud:)
Would it be fair to say when backtesting, say short trades, 10 pips from high of candle as a valid entry and 10 pips from low of candle for exit?
so the account you have been showing evryone is a demo or do you actually use your real money?
how long did it take you to build up to 29000 from 5000?
Frankly speaking, i have no knowledge on back testing. I only forward test my system. There are times i enter the trade on late, because of work,connection,family,gf,gay frens,babies,my bother friends gf cousin nehpew’s dog commitment, i enter the 2nd or even 3rd of PS dot appears,however, in trading long term, missing a few pips wont hurt as much as scalping. Sorry erica, couldnt help u on this. You can try back testing on your method and if its profitable, then its great!!!
Hope this really “helps” 
Best Reg
Chin Liang
1 stanadrd lot on every trades.
5k as capital
All i need is 5 months.
But, dun follow me, i’m over leavage and no proper money mangement in this demo account, i just wanted to forward test this system to sees if its profitable.
My live account had been inactive for 1 year. Its not because i have wipe out my account, its because during these times, i wanted to find a good system to trade without using much of my time. And also learning those valuable lesson from babypips.com . I felt that i have a lot more to learnt in terms of discipline and emotional control.
Hope that helps
Best Reg
chin Liang
…a few PSAR dots in now on a long EUR/USD signal (using FXCM ChartStation)…nice profit on your latest GBP/USD trade 
EUR trade (long) still intact. Might be interesting to watch the interaction between Tonymand’s Contrarian MACD settings and Icycloud…
Although your chart looks a bit different from mine, I’m using MT4 so i cant change the time zone, we are still in profitable thrend. One of the things i took notice aboout tonymaid system is dat he can get in the trade more earlier than i. Not a bad system. Maybe i can use his setting to add should i entry if my 1st PS dot appears inside the BB? Worth exploring. Will try it on MT4.
Best Reg
Chin Liang
Icy,
I’ve been following your system on 15 min. bars and it surely has merit, even during ranging periods. The contradiction with the bollinger bands and SAR is that SAR works worst in ranging markets and during ranging markets the decreased volatility causes the bollinger bands to narrow, which in turn creates less than ideal signals with the SAR. I don’t have the answer (yet) but ideally we would like to see the bollinger bands widen during ranging markets to keep the SAR inside. Conversely, if they would narrow during trending markets less SAR signals would be missed. BUT…that is not the way bollinger bands work. But so far, even during ranging markets most loses from SAR signals are relatively small, which is a good thing.
Both signals are contradiction in each other… which lolx… negative X negative = positive
I’m working on an indicator that gives a reliable signal when the PS is inside BB too. But so far, I have not found one, me too newbie, so any professional charting guys can help me would be best!
Best Reg
Chin Liang