Hello everyone,
I trade the eur usd 1hr time frame with a set of bollinger bands. I enter my trades when price goes outside the outer bands and then enter on the first reversal candle or change of the color ( I use the line graph instead, to me it looks easier on the eye and is not as distracting as candles).
Ok, there are no certainties in forex, however guess what? When price goes outside the outer lines it will 100% come back in eventually. That's good enough for me.
Of course if you enter expecting a reversal and price continues upwards or downwards then you are left behind. So with this in mind how can we differentiate between reversals and strong up or down movements?
For me its just a case of experience and being able to recognize a strong up or down movement. If price is vertical along with the outer line and if the bands are widening, the position of the middle line etc. All of these things help me decide. As long as I am current most of the time and am profitable then that is all that matters.
So far I have had 4 different practice accounts and Grown them all successfully.
Trading with just the bb bands. Before that I was using all sorts of indicators and methods and getting no where. For me this way of trading works.
Before trading like this, I tried every method under the sun, and also tons of different indicators. I did'nt have a whole lot of success. I worry that the brokers make the demo accounts too easy, am i being paranoid? Would I have the same success with a live account? I did have 2 very small ($200) live accounts over a year ago, but I was changing strategies/indicators every day and lost money. I didn't have much control. I blame myself for killing those accounts. However I wanted to experience live trading conditions and accepted that I could lose.
Now I am ready to start a live account trading with just the bands.
I would love to hear from other traders who trade in a similar way.
Thanks a lot,
Matt
I use tradeinterceptor on an iPad. I really like tradeinterceptor.
I trade the eur usd 1hr time frame with a set of bollinger bands. I enter my trades when price goes outside the outer bands and then enter on the first reversal candle or change of the color ( I use the line graph instead, to me it looks easier on the eye and is not as distracting as candles).
Ok, there are no certainties in forex, however guess what? When price goes outside the outer lines it will 100% come back in eventually. That's good enough for me.
Of course if you enter expecting a reversal and price continues upwards or downwards then you are left behind. So with this in mind how can we differentiate between reversals and strong up or down movements?
For me its just a case of experience and being able to recognize a strong up or down movement. If price is vertical along with the outer line and if the bands are widening, the position of the middle line etc. All of these things help me decide. As long as I am current most of the time and am profitable then that is all that matters.
So far I have had 4 different practice accounts and Grown them all successfully.
Trading with just the bb bands. Before that I was using all sorts of indicators and methods and getting no where. For me this way of trading works.
Before trading like this, I tried every method under the sun, and also tons of different indicators. I did'nt have a whole lot of success. I worry that the brokers make the demo accounts too easy, am i being paranoid? Would I have the same success with a live account? I did have 2 very small ($200) live accounts over a year ago, but I was changing strategies/indicators every day and lost money. I didn't have much control. I blame myself for killing those accounts. However I wanted to experience live trading conditions and accepted that I could lose.
Now I am ready to start a live account trading with just the bands.
I would love to hear from other traders who trade in a similar way.
Thanks a lot,
Matt
I use tradeinterceptor on an iPad. I really like tradeinterceptor.