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Trading with Method BB

  • #41
  • Feb 7, 2007 8:21am Feb 7, 2007 8:21am
Quoting kharvell
Hey Yen and thomass,

The chart looks good! Did your USD/CAD chart look about the same as mine?

Good luck,

Kevin

PS CAD/JPY is looking potentially good for later tonight; hopefully everyone else sees it?
Yes, my USD/CAD chart looks pretty similar, just slight difference with penetration of third band 3 days ago.
But don't have CAD/JPY here. Anyway, looks like we have the same open/close times so any pair chart should be similar.

One more thing about the differences. I have 2 providers here and shortly compared signals for both of them. My conclusion is that whatever close/open time you have, you will in most cases get the same signals but earlier or later, and range of price change for your trade might be a bit different due to different entry and exit level. So as long as you stick to the system, things shall be fine.
Thomas
  • #42
  • Feb 7, 2007 8:35am Feb 7, 2007 8:35am
Thanks Kevin for sharing your method with us and keep up the great work !!! Valerie......
  • #43
  • Edited 8:56am Feb 7, 2007 8:42am | Edited 8:56am
Hi once again. A quick question; do you trade this method on other pairs besides what you have listed as the recommended pairs ? Thanks in advance... Valerie...

By the way here are my trades I have entered according to your rules. The only thing I had set my Tp at the middle sma because I was away from my computer....

02/06 gbp/usd entry 1.9616 tp 196.68 = + 52
02/07 eur/jpy entry 156.07 manually exited at 156.69 = + 62
  • #44
  • Edited 9:15am Feb 7, 2007 8:57am | Edited 9:15am
Quoting thomass
Yes, my USD/CAD chart looks pretty similar, just slight difference with penetration of third band 3 days ago.
But don't have CAD/JPY here. Anyway, looks like we have the same open/close times so any pair chart should be similar.

One more thing about the differences. I have 2 providers here and shortly compared signals for both of them. My conclusion is that whatever close/open time you have, you will in most cases get the same signals but earlier or later, and range of price change for your trade might be a bit different due to different entry and exit level. So as long as you stick to the system, things shall be fine.
I haven't had the chance to look at 2 servers with different times, but I thought this might be the case. Thanks for looking into that for us. It seems reasonable to believe that we could all be in the same trade at different times, or that a trade you have, could be a "close call" for me.

Quote
Hi once again. A quick question; do you trade this method on other pairs besides what you have listed as the recommended pairs ? Thanks in advance... Valerie...

Hi Valerie,

Thanks for your compliments! For now, I will be trading only majors. This includes AUD, CAD, CHF, EUR, GBP, USD, and JPY. This way, after a while, we will see what pairs are REALLY good to trade. However, I do think that using Method BB, one could profit on almost any pair in the long run. Of course, the profit may be substantially lower than GBP/USD's due to volatility. For instance, instead of 4000 pips a year, USD/CAD could only produce 900. The pairs I suggest seem to be the most volatile, and therefore, most "pip giving".

Hope this helps,

Kevin

PS I'm off to work again. If you leave a question, expect an answer by 5pm CST!
  • #45
  • Feb 7, 2007 9:19am Feb 7, 2007 9:19am
The USD/JPY we mentioned earlier seems to go nicely
I know that hope is rather poor thing to rely on while trading, but I hope to see it closing above MA
Thomas
  • #46
  • Edited 9:58am Feb 7, 2007 9:52am | Edited 9:58am
Quoting kharvell;210145. Well, thanks for the comment, but I'm sticking to Oanda(Not by choice).<br /> <br /> Kevin, I use 2 chart servers (1 paid, 1 free). I'm not sure if I'm allowed to post links, but the free charts are good quality if you're able to use them on a Mac just for backup or confirmation: [URL
http://www.cbfx.com/charts/charts.htm[/url]
Once you get to the link, it's the IT-Finance charts.

Hey Yen and thomass,

The chart looks good! Did your USD/CAD chart look about the same as mine?

USD/CAD was a sell on my chart also. I'm hoping it will make it to the SMA line, because this pair has been in such an uptrend that I would be tempted to try out the "bounce" entry for the first time.

PS CAD/JPY is looking potentially good for later tonight; hopefully everyone else sees it?
I see the same thing . . . CAD/JPY looks like a buy very soon . . . possibly NZD/JPY as well for anyone interested.
Greetings from Guanajuato, Mexico
  • #47
  • Feb 7, 2007 3:13pm Feb 7, 2007 3:13pm
looks lke a sell signal at EURUSD. Anyone else see it on their charts?

Also AUDJPY, though it hasn't quite hit the 1.5 std band, is decently close and is showing a a very strong candlestick reversal pattern.
  • #48
  • Feb 7, 2007 3:20pm Feb 7, 2007 3:20pm
Hello!

I see potential S entry on my EUR/USD. Would you agree?

A bit off-topic,but not so much:
Just for fun, I'll try to anticipate theoretical scenario:

1) let's assume that this trade goes well in our direction
2) If you look closer or connect highest and lowest close prices, then you will see a pattern - kind of rising wedge
3) if the trade really goes in expected direction, then probably it will break bottom line of the wedge.
4) As you probably know, once the trendline (bottom) of the pattern is broken, then a bearish signal occurs
5) As we are in short trade, then we sit and just watch the action

Anyway, it's just what's came to my mind while staring at the chart
Attached Image
Thomas
  • #49
  • Feb 7, 2007 3:24pm Feb 7, 2007 3:24pm
Quoting thomass
Hello All!

Would you consider this setup as ENTRY?
It's my EURJPY chart.
Thomas,

I do not see any entry at all. It is not in the trading inner channel
-Chandra
  • #50
  • Feb 7, 2007 3:29pm Feb 7, 2007 3:29pm
Quoting kharvell
Hey thomas,

I'm going to have to agree with Yen on this one. It appears that even from your charts that it is BARELY touching if even touching at all. You could take it, but if I were you I'd wait for something a bit more definitive.

And Yen, thanks for posting your trades. I also got stopped out of USD/CHF.



Liquidate 1 lot USD/CHF
Date: 2/6/07
Price: 1.2394
Lots: 1
Reason:
S/L hit

PIP P/L: -90 pips
Total P/L: -36 pips

AND here are my current trades:
Thomas, Yen and Kevin,
What trade and what chart you are all talking about
Thanks.
-Chandra
  • #51
  • Feb 7, 2007 3:32pm Feb 7, 2007 3:32pm
This system appears to be working. However I need help because my I am unable to input 1.5, 2.5 or 3.5 in my MT4. Please can someone assist?
  • #52
  • Feb 7, 2007 3:32pm Feb 7, 2007 3:32pm
Quoting Chandra
Thomas,

I do not see any entry at all. It is not in the trading inner channel
-Chandra
I guess that you refer to my post #31 on previous page. Then yes indeed, it missed band by 3 pips on my chart (attached picture in #31).
Nevertheless it is quite up today (~120p).
Thomas
  • #53
  • Feb 7, 2007 3:35pm Feb 7, 2007 3:35pm
Quoting showmethetrade
This system appears to be working. However I need help because my I am unable to input 1.5, 2.5 or 3.5 in my MT4. Please can someone assist?
In one of earlier posts the indicator was attached.
http://forexfactory.com/showpost.php...2&postcount=82

But I suggest you to look for "bands" in MT4 indicators, instead of "bollinger bands". I found it in both of my MT4s, which I downloaded from 2 different sites.
Thomas
  • #54
  • Feb 7, 2007 3:44pm Feb 7, 2007 3:44pm
It appears that CAD/JPY is still not quite at a buy signal on my charts, but NZD/JPY is definitely signaling a Buy if the daily candle ends as it is right now. My charts end the "day" at 1700 EST, so we're very close to that.[IMG]file:///C:/DOCUME%7E1/RANDYF%7E1/LOCALS%7E1/Temp/moz-screenshot-2.jpg[/IMG]
Attached Image
Greetings from Guanajuato, Mexico
  • #55
  • Feb 7, 2007 3:50pm Feb 7, 2007 3:50pm
Quoting yen44x
It appears that CAD/JPY is still not quite at a buy signal on my charts, but NZD/JPY is definitely signaling a Buy if the daily candle ends as it is right now. My charts end the "day" at 1700 EST, so we're very close to that.
I also see very similar situation on EUR/CHF - take a look.
Attached Image
Thomas
  • #56
  • Feb 7, 2007 3:50pm Feb 7, 2007 3:50pm
Quoting Lamdun
looks lke a sell signal at EURUSD. Anyone else see it on their charts?

Also AUDJPY, though it hasn't quite hit the 1.5 std band, is decently close and is showing a a very strong candlestick reversal pattern.
Are we not supposed to wait till the end of the day (whatever the end of the day time you have)? Premature act is not safe way of trading, told by my Guru!
-cHANDRA
  • #57
  • Feb 7, 2007 3:55pm Feb 7, 2007 3:55pm
Quoting Chandra
Are we not supposed to wait till the end of the day (whatever the end of the day time you have)? Premature act is not safe way of trading, told by my Guru!
-cHANDRA
Chandra,

That's true . . . but an noted in my post, my charts end the "day" at 1700 EST, which is minutes away. But you're right . . . everyone seems to have a different closing time.
Greetings from Guanajuato, Mexico
  • #58
  • Feb 7, 2007 3:57pm Feb 7, 2007 3:57pm
Quoting thomass
I also see very similar situation on EUR/CHF - take a look.
Thomas,

You and I seem to be looking for the same trades. BTW, so far so good on USD/JPY.

I just closed my first win on the BB Method with a sell on EUR/CHF, and now it looks like we can turn around with a buy as you mentioned.
Greetings from Guanajuato, Mexico
  • #59
  • Feb 7, 2007 4:03pm Feb 7, 2007 4:03pm
Quoting thomass
Hello!

I see potential S entry on my EUR/USD. Would you agree?

A bit off-topic,but not so much:
Just for fun, I'll try to anticipate theoretical scenario:

1) let's assume that this trade goes well in our direction
2) If you look closer or connect highest and lowest close prices, then you will see a pattern - kind of rising wedge
3) if the trade really goes in expected direction, then probably it will break bottom line of the wedge.
4) As you probably know, once the trendline (bottom) of the pattern is broken, then a bearish signal occurs
5) As we are in short trade, then we sit and just watch the action

Anyway, it's just what's came to my mind while staring at the chart
Thomas,
Great to see creative ideas. Thanks.
Learned ones say there are many ways ro skin a cat. In the same way, all great traders say that there are many different sucessful ways to trade a market and they follow their own success way that suits there pesronality.
Now, here Kevin showed us a very suuccessful way and we may as well concentrate on it to familiarze ourselves and rather not distract ourselves and dilute our efforts. I would love to hear your creative ways (as you have contributed all through in the past) to improve my trading, using Method BB (final).
Thanks for all your contributions to this site to improve our trading.
-Chandra
  • #60
  • Feb 7, 2007 4:03pm Feb 7, 2007 4:03pm
Quoting thomass
In one of earlier posts the indicator was attached.
http://forexfactory.com/showpost.php...2&postcount=82

But I suggest you to look for "bands" in MT4 indicators, instead of "bollinger bands". I found it in both of my MT4s, which I downloaded from 2 different sites.

Great. Thanks Thomass
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