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Attachments: Method BB (Final)
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Method BB (Final)

  • #41
  • Feb 8, 2007 5:40pm Feb 8, 2007 5:40pm
That all makes perfect sense.

Shelving the bounce trades for now is probably a good idea . . . the standard BB method is providing plenty of trade opportunities & with a higher probability of a profitable trade.
Greetings from Guanajuato, Mexico
  • #42
  • Feb 9, 2007 5:31am Feb 9, 2007 5:31am
kharvell,

Thanks heaps for providing your strategy. You gotta love these higher timeframe systems.

I have just been through the last 2 years of GBPUSD data and while 2005 was a cracker I didn't have quite the same success as yourself in 2006 and so thought I better check whether I know what I'm doing.

The rules I backtested are more like the BB method in its original form using one contract trading the bands from side to side. I guess it's more the entry and exits I want to make sure I am doing right. I did this with FXDD so there will of course be some slight differences. I will go back and backtest with the new rules soon but just wanted to run this by you first.

I've attached a chart to see if I'm on the right track or not. Unfortunately I missed the huge run in April 06. Is that me or the data? Because I missed it I got sell signals all the way up only to be stopped each time. You can see from my backtesting results the shocking run because of that, I think 8 consecutive losses. So where you picked up +900 pips I lost 800 so there's 1700 pips different already!

See what you think and then I will go back and do some more backtesting on other pairs and the new rules and post any results here.

Thanks..
Attached Image
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File Type: zip BB Methoda.zip   6 KB | 661 downloads
  • #43
  • Feb 9, 2007 8:07am Feb 9, 2007 8:07am
Quoting fresian
kharvell,

Thanks heaps for providing your strategy. You gotta love these higher timeframe systems.

I have just been through the last 2 years of GBPUSD data and while 2005 was a cracker I didn't have quite the same success as yourself in 2006 and so thought I better check whether I know what I'm doing.

The rules I backtested are more like the BB method in its original form using one contract trading the bands from side to side. I guess it's more the entry and exits I want to make sure I am doing right. I did this with FXDD so there will of course be some slight differences. I will go back and backtest with the new rules soon but just wanted to run this by you first.

I've attached a chart to see if I'm on the right track or not. Unfortunately I missed the huge run in April 06. Is that me or the data? Because I missed it I got sell signals all the way up only to be stopped each time. You can see from my backtesting results the shocking run because of that, I think 8 consecutive losses. So where you picked up +900 pips I lost 800 so there's 1700 pips different already!

See what you think and then I will go back and do some more backtesting on other pairs and the new rules and post any results here.

Thanks..
Hey Fresian,

Thanks for sharing your backtesting results. The Counter Trend section of my PDF in this thread is very important. It would be important to use this technique in your backtests as well. I promise you that if you go back and do my 1 lot and 2 lot method that you will find, you lose occasionally. I was aware of the big drawdowns with the original method, and this is why I created this final method thread. Anyway, thanks for the results, and I look forward to seeing some more!

Regards,

Kevin
  • #44
  • Feb 9, 2007 9:45am Feb 9, 2007 9:45am
Thanks for your comments Kevin. I will redo as you suggested and see how I get on. I will be sure to post the results, probably sometime next week.

Have a good weekend everyone!
  • #45
  • Feb 9, 2007 12:58pm Feb 9, 2007 12:58pm
Hi everyone kinda new around here and in Forex. I am trading a little and learning. Doing OK so far trading small amounts. I have no idea how to add more than 1 BB to my charts at Interbankfx. Everytime I go to add another one it deletes my first. Can someone help this newbie!!!

Thanks all
Gord
  • #46
  • Feb 9, 2007 1:02pm Feb 9, 2007 1:02pm
Quoting gman29
Hi everyone kinda new around here and in Forex. I am trading a little and learning. Doing OK so far trading small amounts. I have no idea how to add more than 1 BB to my charts at Interbankfx. Everytime I go to add another one it deletes my first. Can someone help this newbie!!!

Thanks all
Gord
Hi Gord,
Go to post #24 in this thread and download the bands mq4 into your indicators for IBFX and add that to your charts. It should make it easier for you. I know it did for me. I hope this helps....Valerie....
  • #47
  • Feb 9, 2007 1:08pm Feb 9, 2007 1:08pm
Quoting amaruenterprise
Hi Gord,
Go to post #24 in this thread and download the bands mq4 into your indicators for IBFX and add that to your charts. It should make it easier for you. I know it did for me. I hope this helps....Valerie....

Thanks a lot!!! Appreciate the help!
  • #48
  • Feb 9, 2007 1:13pm Feb 9, 2007 1:13pm
Quoting gman29
Thanks a lot!!! Appreciate the help!
Gord,

I wish I had known about the BB Method when I was a "newbie" . . . a lot of bumps & bruises (translation: losses followed by more losses ) could have been avoided.

This is a great way to learn to trade, with minimal time staring at charts, and I'm confident you'll win more than you lose. What a concept in Forex!

Good luck!
Greetings from Guanajuato, Mexico
  • #49
  • Feb 9, 2007 1:36pm Feb 9, 2007 1:36pm
Quoting yen44x
Gord,

I wish I had known about the BB Method when I was a "newbie" . . . a lot of bumps & bruises (translation: losses followed by more losses ) could have been avoided.

This is a great way to learn to trade, with minimal time staring at charts, and I'm confident you'll win more than you lose. What a concept in Forex!

Good luck!
I agree. But from the other side, looking back on my short trading history (about 8 months):
- put ~1500$ to my account and thought that's piece of cake
- blew my account in less than 2 months
- promised myself not to trade until I have more or less reliable system
- searched and tried to develop my own
- now I have chance to try and contribute to one
- have respect to market and more discipline than at the beginning

If I would have a good start, then probably after short time I'd have some crazy ideas like "more risk, it's easy to get rich" and stuff like that. In my opinion it hurts less at the beginning with relatively small amount of money than later when you are less vigilant due to initial success.

Btw, do you plan to take Short on EUR/USD after close?
Thomas
  • #50
  • Feb 9, 2007 1:38pm Feb 9, 2007 1:38pm
Quoting yen44x
Gord,

I wish I had known about the BB Method when I was a "newbie" . . . a lot of bumps & bruises (translation: losses followed by more losses ) could have been avoided.

This is a great way to learn to trade, with minimal time staring at charts, and I'm confident you'll win more than you lose. What a concept in Forex!

Good luck!
I couldn't have said that any better yen44x. I too had a lot of bumps and bruises along the way (and won't even speak of the money I lost ) Good luck too everyone......
  • #51
  • Feb 9, 2007 1:56pm Feb 9, 2007 1:56pm
Quoting gman29
Thanks a lot!!! Appreciate the help!
Hey Gord!

Welcome to Forex Factory, and FOREX! There's some great information in this website; be sure to read as much of it as you can stomach. I wish you lots of luck!

My advice to you is not to risk too much until you feel like you know what you're doing. When I first started, I made roughly 100% in 6 months, and thought I was God's Gift to forex..Man, was I lucky. The next couple of months, I lost 20% and then stayed even. I was lucky to not lose my whole account, and it was an eye opener to find something that worked for me. Once you find YOUR system that you're comfortable with, the pips will come. thomas makes some good points in his post also.

And thomas,

I am short EUR/USD for a second lot, it is posted in the Journal Factory thread.

Kevin

Quote
Gord,

I wish I had known about the BB Method when I was a "newbie" . . . a lot of bumps & bruises (translation: losses followed by more losses ) could have been avoided.

This is a great way to learn to trade, with minimal time staring at charts, and I'm confident you'll win more than you lose. What a concept in Forex!

Good luck!

Thanks Yen! You're too nice.. But I do agree that I wish I had thought of this a year ago
  • #52
  • Feb 9, 2007 2:14pm Feb 9, 2007 2:14pm
Well I must say I have been READING and READING and READING some more. My eyes hurt somedays leaving here there is SO much info here it is great. With being a newbie I defintely am not sure of technical analysis, reading candlesticks and the like but the bands I have a feel for and like them. And this particular one I have been looking at and really like. Going to trade some with it next week and I will keep you all posted.

Thanks for the support all I appreciate the friendly attitude exemplified for the most part at this site. (This thread without question ))))

Thanks again.
  • #53
  • Feb 12, 2007 5:32pm Feb 12, 2007 5:32pm
Missed the short on the Euro but looked like it was a success again.
  • #54
  • Feb 12, 2007 5:35pm Feb 12, 2007 5:35pm
Looks like the GBPUSD is in the zone for a long at some point. There's a lot of red flag news on the cable this week so be careful...
  • #55
  • Feb 12, 2007 5:36pm Feb 12, 2007 5:36pm
Quote
Missed the short on the Euro but looked like it was a success again.
gman,

Just in case you've missed it, Kevin has another thread at http://www.forexfactory.com/showthre...to_threadtools where traders discuss current & upcoming trades on the BB Method.

Good luck . . . it's been working great so far!
Greetings from Guanajuato, Mexico
  • #56
  • Feb 13, 2007 3:44pm Feb 13, 2007 3:44pm
Quoting yen44x
gman,

Just in case you've missed it, Kevin has another thread at http://www.forexfactory.com/showthre...to_threadtools where traders discuss current & upcoming trades on the BB Method.

Good luck . . . it's been working great so far!

Excellent will check'er out thanks!
  • #57
  • May 31, 2010 3:10pm May 31, 2010 3:10pm
ahh old tread...is it still applicable sir?
  • #58
  • Last Post: Nov 18, 2010 2:16am Nov 18, 2010 2:16am
Hi Kevin,

Would you please to teach how to use your method?
Please inform the manual of your final method.

Thanks,
Anton
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