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Trading with Method BB

  • #61
  • Feb 7, 2007 4:25pm Feb 7, 2007 4:25pm
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
  • #62
  • Feb 7, 2007 4:28pm Feb 7, 2007 4:28pm
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.
Thomass,
Did tyou get your bands indicator to draw 1.5, 2.5 and 3.5 bands? Go to posting #82 in this thread. Download both the indicator and the template. Place the template correctly in the appropriate directory as detailed there. Both the indicator and the template works great!

-Chandra
  • #63
  • Feb 7, 2007 4:28pm Feb 7, 2007 4:28pm
Wow, you guys are doing awesome! I will try to get to some of these great posts in an hour or 2! Good work

Kevin
  • #64
  • Feb 7, 2007 4:40pm Feb 7, 2007 4:40pm
Quoting Chandra
Thomass,
Did tyou get your bands indicator to draw 1.5, 2.5 and 3.5 bands? Go to posting #82 in this thread. Download both the indicator and the template. Place the template correctly in the appropriate directory as detailed there. Both the indicator and the template works great!

-Chandra
Yes I did.
As I wrote I see 2 methods.
1) look at the picture below, the "bands" indicator was already included in my MT4 (there was also "bollinger bands" but you cannot input fractions in its parameter)
2) download custom indicator which ich in attachment here below and do the same as in my picture
Attached Image
Attached File(s)
File Type: mq4 Bands.mq4   3 KB | 351 downloads
Thomas
  • #65
  • Edited 10:22pm Feb 7, 2007 6:00pm | Edited 10:22pm
Quoting thomass
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
I'm glad to hear that! There's nothing too special going on with me. Most I have EUR/USD, and EUR/AUD at -1 and 17 pips respectively. But USD/CAD is whoopin' up on me for a -29 pips.. I "hope" I don't get stopped out

Quote
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.

Hey Lambdun,
I'm already short EUR/USD from a few days ago. It looks like EUR/USD now is closing in the resistance, at least on my charts. I imagine a break down would be a good opportunity to go short. Also thomas, you asked the same question, and this is my opinion of EUR/USD for now. I am attaching my chart for you.

Quote
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

thomas,

I definitely like what you're saying here. I don't know if you have ever read my RSI Pivot Point strategy but to me the process seems to employ certain similar concepts except bigger pivots. Nice inciteful post

Quote
Thomas, Yen and Kevin,
What trade and what chart you are all talking about
Thanks.
-Chandra

Chandra,

I believe we were talking about EUR/JPY in that post.

Quote
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.

Yen,

Looks like a good cause for entry into NZD/JPY! I'm guessing you entered with 2 lots?

Quote
I also see very similar situation on EUR/CHF - take a look.

thomas,

EUR/CHF looks great to buy. I'm going to take it! Looks like 2 lots too! I think I will take it when my charts close though.. Gotta stick to the rules as chandra says!

I will post my trade entry at around 10pm cst.
Attached Image
  • #66
  • Edited 8:12pm Feb 7, 2007 7:34pm | Edited 8:12pm
New Trades:
2/7
NZD/JPY Long @ 82.93
Lots: 2

Price closed in the channel today after bouncing off the BB lines. First target for 1 lot is 83.67 at the SMA line.

2/7
EUR/CHF Long @ 1.6166
Lots: 1

I went with 1 lot on this trade because I got in about 15 pips late and price closed so close to the SMA line.

Current Trades:

EUR/AUD + 37 pips
USD/JPY + 57 pips
USD/CAD - 34 pips

Closed Trades:

EUR/CHF +22 pips
I got into this trade 2 days (and 44 pips) late , or it
would have been a much more profitable trade.
Greetings from Guanajuato, Mexico
  • #67
  • Feb 7, 2007 9:35pm Feb 7, 2007 9:35pm
USD/JPY

1 Lot closed at 120.90 (SMA line)

+72 pips

Thomass . . . You were in the same trade & probably closed out a lot too. Since Kevin shared the system with us, how about we buy him a beer as soon as he turns 21 . . . that gives us over a year to save up! What do you say?

CAD/JPY is looking more & more like a buy possibility for tomorrow.
Greetings from Guanajuato, Mexico
  • #68
  • Edited 10:56pm Feb 7, 2007 10:45pm | Edited 10:56pm
Quoting yen44x
New Trades:
2/7
NZD/JPY Long @ 82.93
Lots: 2

Price closed in the channel today after bouncing off the BB lines. First target for 1 lot is 83.67 at the SMA line.

2/7
EUR/CHF Long @ 1.6166
Lots: 1

I went with 1 lot on this trade because I got in about 15 pips late and price closed so close to the SMA line.

Current Trades:

EUR/AUD + 37 pips
USD/JPY + 57 pips
USD/CAD - 34 pips

Closed Trades:

EUR/CHF +22 pips
I got into this trade 2 days (and 44 pips) late , or it
would have been a much more profitable trade.
Quote
USD/JPY

1 Lot closed at 120.90 (SMA line)

+72 pips

Thomass . . . You were in the same trade & probably closed out a lot too. Since Kevin shared the system with us, how about we buy him a beer as soon as he turns 21 . . . that gives us over a year to save up! What do you say?

CAD/JPY is looking more & more like a buy possibility for tomorrow.

Hey Yen,

Everything looks good on your end! I've entered a couple of trades myself, and am hoping for the best. Glad to hear your USD/JPY trade turned out to be profitable! Looking forward to that beer

My charts actually showed a buy TODAY in CAD/JPY. Allow me to post my trades:

Trade #5

Long EUR/CHF
Date: 2/7/07
Price: 1.6177
Lots: 1
Reason:
Price broke into main channel from resistance today, and already passed the SMA, so I only entered with one lot. S/L is set to ~48 pips. Graph is included.

Trade #6

Long CAD/JPY
Date: 2/7/07
Price: ~102.00
Lots: 2
Reason:
Price broke into main channel from resistance today, and SMA is(was) sloping up, therefore 2 lots. First T/P set at 102.67(where SMA is), and S/L set for ~68 pips. I will also post a chart of this.

And there will be an attachment of my current trades as well.
Attached Images
  • #69
  • Feb 7, 2007 11:18pm Feb 7, 2007 11:18pm
kevin, have you done a backtest of EURCHF yet? I've been just glancing at the chart and this specific pair has a LOT of false signals. I don't have any testing to prove it, but it doesn't look like a very profitable method bb pair.
  • #70
  • Edited 11:52pm Feb 7, 2007 11:23pm | Edited 11:52pm
Quoting Lamdun
kevin, have you done a backtest of EURCHF yet? I've been just glancing at the chart and this specific pair has a LOT of false signals. I don't have any testing to prove it, but it doesn't look like a very profitable method bb pair.
I would have to agree with you on the sell side, there are a lot of false ones. But if you look at all the BUY signals, what do you see? I see almost 100% winners

In fact, check out this graph of EUR/CHF. Look at the pattern at the beginning how it peaks and goes down. It virtually went down the same amount, and went back up again. LOOKS VERY FAMILIAR!
Attached Image
  • #71
  • Feb 7, 2007 11:45pm Feb 7, 2007 11:45pm
Hi everybody

I have read this threat nearly three times before i realised that trading could be this easy. Thank you Kharvell for such a method.I took my first trade today at GMT +2 on USD/JPY. I entered 2 lots with first tp at 21SMA. S/L placed on ATR 20.Any comments would be greatly appreciated

Eben
Attached Image
  • #72
  • Feb 7, 2007 11:51pm Feb 7, 2007 11:51pm
Quoting Ebenst
Hi everybody

I have read this threat nearly three times before i realised that trading could be this easy. Thank you Kharvell for such a method.I took my first trade today at GMT +2 on USD/JPY. I entered 2 lots with first tp at 21SMA. S/L placed on ATR 20.Any comments would be greatly appreciated

Eben
Hey Eben,

Do you have 2 TP's set? Because I think you have one for your first lot, and the other you just wait and see to close out when it pushes into resistance and then closes in the main channel again. I suppose you could do it your way if you only want to check in once in a while. I suppose I'm not familiar with your buy/sell signals. I'm assuming the green line labeled "buy" is where you bought which would have been a correct entry! Seems like you've got a good understanding, and I wish you lots of luck You're gonna need it

Kevin
  • #73
  • Feb 8, 2007 12:48am Feb 8, 2007 12:48am
Karvell

Thanks for the fast reply. You are correct in assuming the green line is the buy order at market.I have deleted the second TP to see where it goes.

I think it Gary Player who said the more you practice the luckier you get

Eben
  • #74
  • Feb 8, 2007 1:33am Feb 8, 2007 1:33am
Quoting Ebenst
Karvell

Thanks for the fast reply. You are correct in assuming the green line is the buy order at market.I have deleted the second TP to see where it goes.

I think it Gary Player who said the more you practice the luckier you get

Eben
Eben,

Nice going . . . a Gary Player quote. I didn't think anyone else remembered him!

Now if only Kevin had a BB Method for my golf game . . . life would be complete.
Greetings from Guanajuato, Mexico
  • #75
  • Feb 8, 2007 3:05am Feb 8, 2007 3:05am
Most probably the best golfer ever from South Afica. I actually had his training videos and manuals.

To trading

Took 1 st TP at 21 SMA for + 40. 2nd lot still open.
Do we trail the stop or do we leave it as is?
Attached Image
  • #76
  • Feb 8, 2007 3:11am Feb 8, 2007 3:11am
Quoting yen44x
USD/JPY

1 Lot closed at 120.90 (SMA line)

+72 pips

Thomass . . . You were in the same trade & probably closed out a lot too. Since Kevin shared the system with us, how about we buy him a beer as soon as he turns 21 . . . that gives us over a year to save up! What do you say?
Hehe, seems like good and professional economical analysis.
It may even be that this system would allow us to build a pool full of beer
Thomas
  • #77
  • Feb 8, 2007 4:44am Feb 8, 2007 4:44am
Quoting Lamdun
kevin, have you done a backtest of EURCHF yet? I've been just glancing at the chart and this specific pair has a LOT of false signals. I don't have any testing to prove it, but it doesn't look like a very profitable method bb pair.
I also noticed this.
My observation is that the pair is rather strongly trending, so it's maybe better to trade only with MA trendline on this pair and avoid trending against.
Please notice that both S and L signals are OK when the MA is flat of not trending very strongly.
Thomas
  • #78
  • Feb 8, 2007 7:54am Feb 8, 2007 7:54am
Quoting Ebenst
Most probably the best golfer ever from South Afica. I actually had his training videos and manuals.

To trading

Took 1 st TP at 21 SMA for + 40. 2nd lot still open.
Do we trail the stop or do we leave it as is?
Eben,
Leave the S/L as is.



My trades are looking pretty good this morning! Hopefully everyone else's are doing well? Looks like I might get stopped out of USD/CAD

Here are my trades:
Attached Image
  • #79
  • Feb 8, 2007 7:59am Feb 8, 2007 7:59am
Quoting kharvell
Eben,
Leave the S/L as is.



My trades are looking pretty good this morning! Hopefully everyone else's are doing well? Looks like I might get stopped out of USD/CAD

Here are my trades:

Yeah,
my USD/JPY at +120 pips now :]
Thomas
  • #80
  • Feb 8, 2007 8:04am Feb 8, 2007 8:04am
Hi everyone. I just wanted to give an update of how things are going with the BB Method so far this week. I started using this method on Monday of this week. I've used Bollinger Bands in the past with some success but never like this at least for now. Thanks once again Kevin ( You're the Man !!!)....Valerie....

gbp/usd +52
eur/jpy +62
gbp/chf +64
usd/jpy +44

Still Open
nzd/jpy entry was at 83.12
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