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Simple and profitable trading style

Market ranges 80% of the time looking great

Cheers Paul
Awesome trading technique.

May I know the setting for Bollinger Bands?

Thank You.
Quoting tillandran
Awesome trading technique. May I know the setting for Bollinger Bands? Thank You.
Just leave it with the way you meet in MT4/platform.
Quoting 9jatrader
{quote} Just leave it with the way you meet in MT4/platform.
Why not just state what the settings are, rather than just say "the defaults", in case someone is using a different platform or site to view the chart.

Or do you find the settings too confusing to identify and you just "add the one that's there".

Secondly, why not give a reason for using the default settings vs changing it to 2.5 as someone else suggested.

Sounds like you just want to lead a bunch of following sheep, rather than explain why/how the default settings work for your trading.
Quoting Nefser
{quote} Why not just state what the settings are, rather than just say "the defaults", in case someone is using a different platform or site to view the chart.
Period: 20
Deviations: 2
9ja I really like this strat.

Would you mind clarifying what you look for upon entry? I was a bit confused after reading the first post, and I'm sure I can't be the only one.

Thanks
Treat trading like a business, not a job.
Also, how do you identify TP & SL? Thanks
Quoting godsense
9ja I really like this strat. Would you mind clarifying what you look for upon entry? I was a bit confused after reading the first post, and I'm sure I can't be the only one. Thanks
Do you mean my Take Profit? I have found out that I did not state how I close my positions here. I said it in one trading forum with some of my trading friends. I use my short entry point to close my long entry. Long entry means that weekly closes/closed above middle band weekly while the daily closes above upper band. Going short means that weekly closes/closed middle band while the daily closes below lower band. Therefore using going short entry point is used to closed long position and vice versa. Any further question is welcomed.
Quoting tillandran
Also, how do you identify TP & SL? Thanks
I believe I have also answered your question. SL is not different from general rule. Use the previous candle to set SL. I have been asked the same question about SL and I have answered it. Read some of my replies to questions and you will see my reply. Happy trading.
For fifth week now the weekly candles have been closing along upper band on NZDJPY. It's not the time to close it yet. My position still open.
am confused what do you mean trading with 7 platforms.??

thanks Paul
Quoting paul72
am confused what do you mean trading with 7 platforms.?? thanks Paul
Advise to everybody: Don't join the thread mid-way. I stated why I backtest the strategy with seven platforms. I do not want to overtrade by placing any pair that meets the entry point on one platform. Go through the beginning of the thread again. If I place them on one platform, account may not be able to stand a strong retracement when all retrace following strong movement
i have read it all the way through i just dont understand the seven platform.

is it 7 timeframes

whats the 7 platforms ??
Quoting paul72
i have read it all the way through i just dont understand the seven platform. is it 7 timeframes whats the 7 platforms ??
I mean seven brokers- Fxpro, Alpari, Global Prime,AUstralia, Pepperstnone, Axitrader, Oanda, FXTM. I hope you're clear now, Paul
I trade three time frames - daily, weekly and monthly
Quoting 9jatrader
{quote} I mean seven brokers- Fxpro, Alpari, Global Prime,AUstralia, Pepperstnone, Axitrader, Oanda, FXTM. I hope you're clear now, Paul
hi thanks for the reply i am not new i do understand forex but why why do you check 7 brokers ???

do not get me wrong here i love the system that you are using but i have never come across using so many brokers.

Cheers Paul
I don't want to place all the ones the met the entry point on one platform. Since am backtesting the strategy I want to place a single pair on one platform. In this way I will be able to check how successful the strategy is.
For those who still have issue and question about exit, if you check the NZDJPY weekly you would observe that for five weeks now the pair has been trending along the upper band. If when retracing, it closes below middle band while the daily closes below lower band I will consider closing and re-evaluate whether to go short immediately. That's what I mean by using the strategy of going short to close long position and vice versa.
I use your system with donchian channel 5 days in place of bollinger bands, trailing stop monthly adr and exit on opposite signal
Quoting Fernand
I use your system with price channel 5 days in place of bollinger bands, trailing stop monthly adr and exit on opposite signal
Good luck mate
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