Method BB (Final) | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Is There Any Simplest Method To Success In Forex? 63 replies

bo7a method... method for GBP/JPY 205 replies

(Method) Trading Systems 1 reply

Inquiry of 400:1 leverage method 11 replies

Simple trading method 49 replies

Attachments: Method BB (Final)
Exit Attachments

Method BB (Final)

  • #21
  • Feb 5, 2007 7:13pm Feb 5, 2007 7:13pm
Something to add about the ATR - set the color setting to white (or whatever your background color is) since the ATR line doesnt really matter anyways and we only need the value.

That way, you can shrink the window all the way down so that only the values shows, saving up some screen space.
  • #22
  • Feb 5, 2007 8:42pm Feb 5, 2007 8:42pm
Hey guys,

Great posts today! If I wasn't exhausted after my 12 hour day, my replies would be a bit longer, but I hope you can understand. These replies should sum up most of the discussion.

Quoting yen44x
Michael,

Now that I put my glasses on . . . you're absolutely right. I'm 2 pips short of a touch on USD/CHF on my charts.

However, just for the sake of discussion, I'm still interested in Kevin's thoughts on how he would handle it if they had touched. I personally am inclined to stick with the USD/CHF trade just because the SMA slope supports it.

I'm not in a EUR/USD trade, but I noticed the situation was similar.
If the bar touches the resistance and closes in the main channel we exit the position and start a new one. It doesn't matter what happens, we just do it.

Quote
I'm glad this was brought up then because I had it in my head that the color/direction of the candle made a difference.

Randy

Yen is correct. Color does not matter.


In regards to ATR and S/L. What I am doing, and you may decide to do whatever you would like, is using 100 pip S/L OR ATR value, whichever is less. So for pairs like GBP/USD my S/L will almost always be 100.
  • #23
  • Feb 5, 2007 9:41pm Feb 5, 2007 9:41pm
Hi to All,

Maybe there's something missing with my computer.

It's fine for BB20 for deviation 1, 2, 3, and 4; But

I can't upload BB 20 with deviation of 1.5 2.5 and 3.5

Could someone enlighten me hoe to get the deviation of

the above BB.

Thanks

Renefx
  • #24
  • Feb 5, 2007 9:50pm Feb 5, 2007 9:50pm
Quoting Renefx
Hi to All,

Maybe there's something missing with my computer.

It's fine for BB20 for deviation 1, 2, 3, and 4; But

I can't upload BB 20 with deviation of 1.5 2.5 and 3.5

Could someone enlighten me hoe to get the deviation of

the above BB.

Thanks

Renefx

Here is a post that one of the other members made, and I've attached the stuff you will need for MetaTrader.

Quote
kharvell,

nice looking system you've got going here. i'll give it a go, and forward test starting next week.

i've also attached a template for MT4 that'll draw all the bands on there, without the need for adding 6 indicators by hand. i used bands.mq4 as the base. it isn't the bands.mq4 that was upload here earlier (atleast i don't think) because I already had it in my indicators list. so i attached it aswell.

just save the 'bands.mq4' in the experts/indicators folder and the 'method bb.tpl' in the templates folder (the main templates folder, not the one within experts). open you chart on the Daily time frame, and load the template.
Attached File(s)
File Type: mq4 Bands.mq4   3 KB | 820 downloads
File Type: tpl method%20bb.tpl   3 KB | 833 downloads
  • #25
  • Feb 6, 2007 2:11am Feb 6, 2007 2:11am
Hi Kevin,

Thank you for sharing your system, it looks very promising. As from today i will be soley forward testing this method for 3 months and let the results speak for themselves.

I will also be posting my entries and exits so that if i am misinterpreting the system, you will be able to steer me in the right direction.

I hope this is acceptable to you.

Looking forward to making many pips.
  • #26
  • Feb 6, 2007 2:47am Feb 6, 2007 2:47am
Quoting kharvell
Here is a post that one of the other members made, and I've attached the stuff you will need for MetaTrader.
thanks for your system but i am new to MT4,can u pls help me with the running of the program? step by step would be good,thanks!
  • #27
  • Feb 6, 2007 3:12am Feb 6, 2007 3:12am
Thank you guys for the answers about ATR. Now I got it
42
  • #28
  • Feb 6, 2007 8:07am Feb 6, 2007 8:07am
Quoting FibzY
Hi Kevin,

Thank you for sharing your system, it looks very promising. As from today i will be soley forward testing this method for 3 months and let the results speak for themselves.

I will also be posting my entries and exits so that if i am misinterpreting the system, you will be able to steer me in the right direction.

I hope this is acceptable to you.

Looking forward to making many pips.
Hi Fibzy,

Feel free to post your trades in my "Trading with Method BB forum" which can be found in Forex Discussion. I'm trying to keep this forum limited to posts strictly about the Method. Thanks for your compliments, and I look forward to seeing your results! Good luck!

Quote
thanks for your system but i am new to MT4,can u pls help me with the running of the program? step by step would be good,thanks!

I personally, have only used Meta Trader a few times. Basically save your files as indicated above, and then you should just be able to right click on you graph, Select Load Template, and find the one that says something like "methodBB". Then everything should load up for you. If I am wrong here, somebody please correct me.

Quote
Thank you guys for the answers about ATR. Now I got it

Glad to hear it! Good luck to you!


Kevin
  • #29
  • Feb 6, 2007 11:30am Feb 6, 2007 11:30am
Hi Kevin,

Are we still continue posting in 'Method BB' thread? It will be easier if all our postings go only to 'Method BB (final)' thread. Then we do not have to hop between two threads.
Thanks.
-Chandra
  • #30
  • Feb 6, 2007 12:09pm Feb 6, 2007 12:09pm
Quoting Chandra
Hi Kevin,

Are we still continue posting in 'Method BB' thread? It will be easier if all our postings go only to 'Method BB (final)' thread. Then we do not have to hop between two threads.
Thanks.
-Chandra
The only reason "Method BB" is active is because YOU posted in it ! Anyway, if we all just ignore that thread, it will eventually go away. Just don't worry about it; there will hardly be any more important info posted there.

Quote
Hi Kevin,
Thanks for your reply. I too thought so.... end of day time should not hurt. As you said, if you have 200 pips more than me in this month and I have 500 pips more than you in next month, we average it and have 350 each. OK?http://www.forexfactory.com/images/icons/icon7.gif
Have a nice day. (Are you really 19 as someone said in this site?)

-Chandra.

Sounds like a plan! I accept PayPal And yes, I am REALLY 19(soon to be 20 in March)

Regards,

Kevin
  • #31
  • Feb 6, 2007 12:27pm Feb 6, 2007 12:27pm
Kevin, It's nice to have a fellow college student trading forex too. If you don't mind me asking, where do you go?
  • #32
  • Feb 6, 2007 4:19pm Feb 6, 2007 4:19pm
Quoting Lamdun
Kevin, It's nice to have a fellow college student trading forex too. If you don't mind me asking, where do you go?
Hey Lamdun,

I used to go to Indiana University, but let's just say I partied a bit too much, and now I go to school at a community college near Dallas. What year are you and where do you go?

Kevin
  • #33
  • Feb 7, 2007 2:53pm Feb 7, 2007 2:53pm
Hi Kevin,

Thanks for sharing this interesting method. It looks very promising!

I will forward test it ASAP. And I am also considering to back test all major pairs when i have spare time. Have you back test on any other pairs other than GPBUSD and AUDJPY? Please let me know so I don't duplicate the test. Please also share other back test result if you have any. Thanks again for this good system!

Regards,

Geoff
  • #34
  • Feb 7, 2007 3:04pm Feb 7, 2007 3:04pm
Quoting kharvell
Hi Fibzy,

Feel free to post your trades in my "Trading with Method BB forum" which can be found in Forex Discussion. I'm trying to keep this forum limited to posts strictly about the Method. Thanks for your compliments, and I look forward to seeing your results! Good luck!



I personally, have only used Meta Trader a few times. Basically save your files as indicated above, and then you should just be able to right click on you graph, Select Load Template, and find the one that says something like "methodBB". Then everything should load up for you. If I am wrong here, somebody please correct me.

Glad to hear it! Good luck to you

Kevin
Hi Kevin,
How do you paste more than one quote in your response? (as done in this your posting?)
Thanks.
-Chandra
  • #35
  • Feb 7, 2007 3:10pm Feb 7, 2007 3:10pm
Quoting kharvell
Hey Lamdun,

I used to go to Indiana University, but let's just say I partied a bit too much, and now I go to school at a community college near Dallas. What year are you and where do you go?

Kevin
I'm a freshman at Stanford and I am TRYING to resist the temptation to party too much. lol.
  • #36
  • Feb 7, 2007 6:05pm Feb 7, 2007 6:05pm
Quoting hksweeper
Hi Kevin,

Thanks for sharing this interesting method. It looks very promising!

I will forward test it ASAP. And I am also considering to back test all major pairs when i have spare time. Have you back test on any other pairs other than GPBUSD and AUDJPY? Please let me know so I don't duplicate the test. Please also share other back test result if you have any. Thanks again for this good system!

Regards,

Geoff
Hi Geoff,

Thanks for your compliments. Those are the only 2.. The rest were tested with my mind I look forward to seeing your results!

Regards,
Kevin

Quote
Hi Kevin,
How do you paste more than one quote in your response? (as done in this your posting?)
Thanks.
-Chandra

I usually just scroll down through the list of messages, and COPY what someone says, click the QUOTE ICON that is 3rd from right then PASTE it in the commands it enters.

Quote
I'm a freshman at Stanford and I am TRYING to resist the temptation to party too much. lol.

Easier said than done, my friend.
  • #37
  • Feb 8, 2007 7:24am Feb 8, 2007 7:24am
Any body back tested Method BB on other pairs? It looks Great!!

Hi Kevin, while you find some time between parties, please post a few trades please.http://www.forexfactory.com/images/icons/icon8.gifhttp://www.forexfactory.com/images/icons/icon7.gif
Thanks.
-Chandra
  • #38
  • Feb 8, 2007 8:08am Feb 8, 2007 8:08am
Quoting Chandra
Any body back tested Method BB on other pairs? It looks Great!!

Hi Kevin, while you find some time between parties, please post a few trades please.http://www.forexfactory.com/images/icons/icon8.gifhttp://www.forexfactory.com/images/icons/icon7.gif
Thanks.
-Chandra
Hi Chandra,

Do you have your own results that you could post from backtests? And also, I have entered 2 trades last night, so look in the Journal Forum, to check them out!

Kevin
  • #39
  • Feb 8, 2007 4:57pm Feb 8, 2007 4:57pm
Hi Kevin,

Let me get your thoughts on a few questions . . .

1. You originally suggested 6 currency pairs as good candidates for the BB method, due to decent volatility and good Bollinger Band separation. I never used BB's prior to this method, so can you expand on specifically what you're looking at in regard to the Bollinger Bands that would make one currency pair more "user-friendly" than another with the BB method?

2. In the standard rules, you state that a daily candle can break into the resistance band, and then serve as an entry signal if it closes within the channel. However, on the "bounce" rule, you mention waiting for confirmation from the next day's candle before entering. Is this just to confirm that it really has bounced off the 20 SMA?

3. I noticed you settled on a 20-period ATR instead of the 14-period that was originally suggested in a post. It's a fairly minor difference, but I was just curious why.

Thanks!
Greetings from Guanajuato, Mexico
  • #40
  • Feb 8, 2007 5:35pm Feb 8, 2007 5:35pm
Quoting yen44x
Hi Kevin,

Let me get your thoughts on a few questions . . .

1. You originally suggested 6 currency pairs as good candidates for the BB method, due to decent volatility and good Bollinger Band separation. I never used BB's prior to this method, so can you expand on specifically what you're looking at in regard to the Bollinger Bands that would make one currency pair more "user-friendly" than another with the BB method?

2. In the standard rules, you state that a daily candle can break into the resistance band, and then serve as an entry signal if it closes within the channel. However, on the "bounce" rule, you mention waiting for confirmation from the next day's candle before entering. Is this just to confirm that it really has bounced off the 20 SMA?

3. I noticed you settled on a 20-period ATR instead of the 14-period that was originally suggested in a post. It's a fairly minor difference, but I was just curious why.

Thanks!
Hey Yen,

Good questions, as always.

1. If you know anything about BB bands, you probably know the standard "when it's pinching tight, then it's going to break out soon." When it does break out, the bands will spread open. Basically, the reason why I chose those 8 pairs is because a lot of pinches and breakouts occur frequently. Basically, there is a lot of width variation.

2. I think I'm going to ignore bounces for now. They seem a bit too risky at this point in time.

3. I just thought I'd keep everything coherent w/ 20 period BB's and 20 period ATR. The only difference should be 2-3 pips. You could do either one.

Regards,

Kevin
0 traders viewing now