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Joined Nov 2008
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Status: Utilizing Parker's Strategems
|61 Posts
ARM,
Go to www.babypips.com and check out their tutorial. It was very helpful to me and has an easy to understand explanation of Bolinger Bands. The site also references additional sources you can turn to for an in depth explanation. I think you will be pleased with the results once you use them on a demo for a bit. Happy trading.
Thanx for the information about the Bollinger Bands on babypips...this is definetively a good source of knowledge for begginers. Do you have in mind by any chance another turorial about how to use this indicator? Feel free to reply or quote whenever you get the chance!
John Bollinger has one of the more informative sites among indicator developers. His site address is Bollinger Bands. I would write it properly but I'm unsure if that is a violation of the rules.
There are also plenty of threads on varying useage of them. You may then want to look at different ways of applying standard deviation (the 'edges' of the bands).
I ran into a new website created by John Bollinger that is strictly for forex utilizing Bollinger Bands: bbforex.com. There is a set of rules regarding use of the bands--I always thought that a tag of the top band was a sell signal, but he says not necessarily...his point being that prices can and do walk up and down the bands. The rules are worth looking at.