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Trading with Method BB

  • #81
  • Feb 8, 2007 6:04am Feb 8, 2007 6:04am
Thanks Kharvell

i Will leave the S/L where it is.
So far +40 on 1st lot and 2nd lot still open on + 60.
This is really to easy

Eben
  • #82
  • Feb 8, 2007 6:05am Feb 8, 2007 6:05am
Quoting thomass
Yeah,
my USD/JPY at +120 pips now :]
Right on! Nice job! Wasn't there some sort of agreement where I get 20-30% of everyone's profits? My memory is a bit hazy..

Quote
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

Valerie,

WOW! You're having a great week! I'm really glad to hear that you've done so well, and in only 4 days! You the (wo?)man!

Regards,

Kevin
  • #83
  • Feb 8, 2007 2:01pm Feb 8, 2007 2:01pm
Hi!
There is L signal on GBP/USD, at least for people with candle close time around now.
The setup looks kind of strange, anyway according to the system - there is definitely L sig.



Regards
Attached Image
Thomas
  • #84
  • Feb 8, 2007 3:10pm Feb 8, 2007 3:10pm
New Trades:
2/8
USD/CHF Long @ 1.2460
Lots: 1
SL: 1.2379

Went with 1 lot on this trade simply because the bands are so tight.

2/8
CAD/JPY Long @ 102.38
Lots: 2
SL: 101.63

Target for 1st lot is 102.64.

Current Trades:

2/2 EUR/AUD + 35 pips
2/6 USD/JPY + 96 pips (& 1 lot closed at +72 pips)
2/6 USD/CAD - 4 pips
2/7 NZD/JPY -6 pips
2/8 EUR/CHF +82 pips (& 1 lot closed at +41 pips)
Greetings from Guanajuato, Mexico
  • #85
  • Feb 8, 2007 3:35pm Feb 8, 2007 3:35pm
Quote
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
http://www.forexfactory.com/images/buttons/quote.gif
Thomas,

This could work out great . . . my day job is selling swimming pools. So, I could build the pool, you could supply the beer to fill the pool, and Kevin can help us drain the pool.

Let's knock out a few BB trades & start the savings account.
Greetings from Guanajuato, Mexico
  • #86
  • Feb 8, 2007 4:01pm Feb 8, 2007 4:01pm
Quoting thomass
Hi!
There is L signal on GBP/USD, at least for people with candle close time around now.
The setup looks kind of strange, anyway according to the system - there is definitely L sig.



Regards
Hey thomas,

GBP/USD is just missing my resistance areas in my charts, so I'm holding off on GBP/USD for now. Looks like a good trade for you! Good luck!

Kevin

Quote
New Trades:
2/8
USD/CHF Long @ 1.2460
Lots: 1
SL: 1.2379

Went with 1 lot on this trade simply because the bands are so tight.

2/8
CAD/JPY Long @ 102.38
Lots: 2
SL: 101.63

Target for 1st lot is 102.64.

Current Trades:

2/2 EUR/AUD + 35 pips
2/6 USD/JPY + 96 pips (& 1 lot closed at +72 pips)
2/6 USD/CAD - 4 pips
2/7 NZD/JPY -6 pips
2/8 EUR/CHF +82 pips (& 1 lot closed at +41 pips)

Hey yen,

Sounds like you are making some good $$$! I was thinking about entering USD/CHF, but my SMA is sloping slightly down. Since there is only 11 pips to the SMA for me, the one lot I would buy would only result in 11 pips profit. To me, the risk and reward is not good enough. Your chart may be different.

Also, welcome to LONG CAD/JPY It's looking rather nice! I'm up around 70 pips adding both my lots. Good luck to you!
  • #87
  • Feb 8, 2007 4:09pm Feb 8, 2007 4:09pm
Quote
Sounds like you are making some good $$$! I was thinking about entering USD/CHF, but my SMA is sloping slightly down. Since there is only 11 pips to the SMA for me, the one lot I would buy would only result in 11 pips profit. To me, the risk and reward is not good enough. Your chart may be different.
This was definitely a 50/50 trade . . . I just know it's going to bust loose one way or the other with those super-tight BB's, so we'll see.
Greetings from Guanajuato, Mexico
  • #88
  • Feb 8, 2007 4:58pm Feb 8, 2007 4:58pm
Kevin,

You've got an excellent thing! For only three days I've made some 270 pips in 4 or 5 pairs, incl. 1 loss. Demo account, unfortunately .

Now I'm standing long USD/CHF.

p.s.: I'm about to win a contest with your system, Kevin . If I do, I'll help you, guys, to fill the pool with beer .
  • #89
  • Edited 9:04pm Feb 8, 2007 8:14pm | Edited 9:04pm
Quoting bodyn
Kevin,

You've got an excellent thing! For only three days I've made some 270 pips in 4 or 5 pairs, incl. 1 loss. Demo account, unfortunately .

Now I'm standing long USD/CHF.

p.s.: I'm about to win a contest with your system, Kevin . If I do, I'll help you, guys, to fill the pool with beer .
Hi bodyn,

What type of contest are you entering? It wouldn't happen to be the Oanda contest, would it? Anyway, all I ask is that you give credit where credit is due. I'm glad to hear of your great success this week, and GOOD LUCK!

Kevin



GBP/CHF looks like a BUY. I would take it, but I'm maxed out as far as lots go. I have no money!! I'm sitting on some good pips here though.

Here are my trades:

PS I'm looking forward to this pool full of beer
Attached Image
  • #90
  • Edited 4:08am Feb 9, 2007 12:40am | Edited 4:08am
Kevin,

It's not the Oanda's contest. As I live in Ukraine, I don't even know what the Oanda is (but I guess, to be sure ). The contest is held by an Eastern Europe broker.

I've got TP in USD/CHF - + 14 pips and one position is still open.

Kevin, the book by Nison that you read (and so do I, thanks to you) is of great value. Look at GBP/USD Daily. There we have an evening star and the resistance that the price failed to break through. That's why on Wednesday it was clever to move stop to 1.9670 or so. Certainly such moves depend on trading style and priorities of a trader.

Good luck!
  • #91
  • Feb 9, 2007 6:21am Feb 9, 2007 6:21am
Quoting bodyn
Kevin,

It's not the Oanda's contest. As I live in Ukraine, I don't even know what the Oanda is (but I guess, to be sure ). The contest is held by an Eastern Europe broker.

I've got TP in USD/CHF - + 14 pips and one position is still open.

Kevin, the book by Nison that you read (and so do I, thanks to you) is of great value. Look at GBP/USD Daily. There we have an evening star and the resistance that the price failed to break through. That's why on Wednesday it was clever to move stop to 1.9670 or so. Certainly such moves depend on trading style and priorities of a trader.

Good luck!
Hey bodyn,

I'm glad you've found that book helpful! I would definitely recommend it to just about everybody. I also like your analysis of GBP/USD. You're very right that it depends on the trader with a lot of things. I think personally, I have decided to strictly follow the mechanics of my method, in order to ensure accurate forward testing results. Of course, this could always change..



Well then, I had a couple TP's hit last night:

Liquidate 1 lot CAD/JPY
Date: 2/9/07
Price: 102.67
Lots: 1
Reason:
Price hits SMA; therefore, we liquidate 1 lot.

PIP P/L: 67 pips

Liquidate 1 lot USD/CAD
Date: 2/9/07
Price: 1.1784
Lots: 1
Reason:
Price hits SMA; therefore, we liquidate 1 lot.

PIP P/L: 35 pips


Total P/L: 66 pips


I also still have these 4 trades:
Attached Image
  • #92
  • Feb 9, 2007 10:24am Feb 9, 2007 10:24am
btw kevin, how do you determine your lot sizes? You seem to have such a big variations between your lots for say EURCHF and EURUSD. Any reason behind that?
  • #93
  • Edited 10:50am Feb 9, 2007 10:37am | Edited 10:50am
EUR/JPY may be lining up as a Short soon per the BB Method.

Additionally, it appears to be forming a potential Head & Shoulder pattern, with considerable divergence in momentum, which all add weight to the possible BB signal.

If the Short signal actually triggers, I will enter it as a 1-lot counter-trend trade with my target at the SMA line with stop loss above the "head" of the H&S pattern.

[IMG]file:///C:/DOCUME%7E1/RANDYF%7E1/LOCALS%7E1/Temp/moz-screenshot-3.jpg[/IMG]
Attached Image
Greetings from Guanajuato, Mexico
  • #94
  • Feb 9, 2007 11:38am Feb 9, 2007 11:38am
Quoting Lamdun
btw kevin, how do you determine your lot sizes? You seem to have such a big variations between your lots for say EURCHF and EURUSD. Any reason behind that?
That EUR/USD trade was kind of a dipping my toes in the water thing. I made that trade pretty much right after I thought of the Original Method BB. I didn't have too much of a plan. Right now I am doing a relatively risky MM scheme, basically risking 5% per trade. I would suggest 3 to 4%, but I have a lot of confidence in this method. We'll just have to see how it goes. Using 5% risk per trade, I am up nearly 19% in capital within 5 days. Of course, I am highly leveraged at 50:1. Like I said, I know there's a lot of risk involved with what I am doing, but I am attracted to the rewards and am fairly confident we have a winning system here.

Quote
EUR/JPY may be lining up as a Short soon per the BB Method.

Additionally, it appears to be forming a potential Head & Shoulder pattern, with considerable divergence in momentum, which all add weight to the possible BB signal.

If the Short signal actually triggers, I will enter it as a 1-lot counter-trend trade with my target at the SMA line with stop loss above the "head" of the H&S pattern.
Hey Yen,

I want to caution you on EUR/JPY if it ends up looking like it is now on both your chart and mine, I would not take the sell because it's too close to the resistance line(not definitive). I wasn't sure if you were talking "soon" as in later today or next monday. If you meant next monday, then I agree with you:

Also, for those of you that are Long EUR/CHF with me, I may be closing out later today because it is basically closing out in the main channel, and even if it is close to the resistance, I want to get out and save profits. It's a little too "iffy" of a signal to take a trade on the sell side though. My chart is attached.

EUR/USD is looking like a sell. I think I'm going to go ahead and take it now since it's almost high spread time. I already have 1 lot going on from way back when, but it was a weak lot of 4000 units vs the 11500 units I'm getting now.

Trade #7

Short EUR/USD
Date: 2/9/07
Price: 1.3012
Lots: 1
Reason:
The Price broke into upper resistance bands, and now appears to be closing in the main channel today. It is kind of far from closing time, but I want to get the good spread while I can. The SMA is sloping up(against our direction;1 lot), and ATR is reading 78 pips for a S/L. My T/P has been set to 1.2973(where the SMA is). I have also attached my chart.

Good luck to everyone,

I will post my liquidation of EUR/CHF later on tonight, if I do indeed do it.

Kevin
Attached Images
  • #95
  • Feb 9, 2007 11:51am Feb 9, 2007 11:51am
Quote
Hey Yen,

I want to caution you on EUR/JPY if it ends up looking like it is now on both your chart and mine, I would not take the sell because it's too close to the resistance line(not definitive). I wasn't sure if you were talking "soon" as in later today or next monday. If you meant next monday, then I agree with you:
Kevin,
You're absolutely right on your caution. I was referring to the possibility of a trade on Monday once we get a little more definition on the charts, especially in view of the strong up-trend the past few days. My point was simply that IF a sell signal develops, it may have added weight due to the potential H&S pattern and momentum divergence.

Quote
Also, for those of you that are Long EUR/CHF with me, I may be closing out later today because it is basically closing out in the main channel, and even if it is close to the resistance, I want to get out and save profits. It's a little too "iffy" of a signal to take a trade on the sell side though.
I'm with you on this too. This has been a very good trade, but it does appear that it will close in the channel today, and I don't see much sense letting it possibly drain profits away early next week.

Well, I started the BB Method with 2 losses just to keep me humble, but the last few trades have turned that around. So far so good on the forward testing!
Greetings from Guanajuato, Mexico
  • #96
  • Feb 9, 2007 1:28pm Feb 9, 2007 1:28pm
Quoting yen44x
Kevin,
You're absolutely right on your caution. I was referring to the possibility of a trade on Monday once we get a little more definition on the charts, especially in view of the strong up-trend the past few days. My point was simply that IF a sell signal develops, it may have added weight due to the potential H&S pattern and momentum divergence.

I'm with you on this too. This has been a very good trade, but it does appear that it will close in the channel today, and I don't see much sense letting it possibly drain profits away early next week.

Well, I started the BB Method with 2 losses just to keep me humble, but the last few trades have turned that around. So far so good on the forward testing!
Hey Yen,

Nice observation about the head and shoulders formation on EUR/JPY. I am thinking by monday or certainly by tuesday, we should be entering for some good pips! Also, I went ahead and cashed out my EUR/CHF lot.

Liquidate 1 lot EUR/CHF
Date: 2/9/07
Price: 1.6228
Lots: 1
Reason:
Price went into main resistance, and then closed in the main channel today. Because the close is pretty close to the resistance line, I will not be entering this trade on the short side.

PIP P/L: 51 pips


Total P/L: 117 pips

My first week using this method has ALSO been good. 117 pips in one week is not bad for 20-30 minutes of chart staring each night.

I'm also up 165 pips in current open trades. How did everyone else do this week?

Good luck,

Kevin
  • #97
  • Feb 9, 2007 1:37pm Feb 9, 2007 1:37pm
Quoting kharvell

My first week using this method has ALSO been good. 117 pips in one week is not bad for 20-30 minutes of chart staring each night.

I'm also up 165 pips in current open trades. How did everyone else do this week?

Good luck,

Kevin
Hey Kevin looks like you've had a good week too . I made 196 pips with your BB method this week (My first week using your method) Thanks again friend...
  • #98
  • Edited Feb 10, 2007 1:46am Feb 9, 2007 1:53pm | Edited Feb 10, 2007 1:46am
This week brought me 309 pips.
And I could have more of them. If only "ifs" and "ands" were pips and trends .

The results impressed me greatly! Only one s/l !

Again, I think candlestick analysis will help to determine right stops, exits and entrances greatly. And I will work in this direction, if you, guys, don't mind .
  • #99
  • Feb 9, 2007 2:19pm Feb 9, 2007 2:19pm
+150 pips for me, only one trade on USD/JPY.
Closed position because of the fact that i'm not sure if I'll have net access next week (going abroad).
So far so good 4 all of us as I recognize http://forexfactory.com/images/icons/icon14.gif
Thomas
  • #100
  • Feb 9, 2007 3:48pm Feb 9, 2007 3:48pm
Just to add to the chorus of cheers for the BB Method . . . on current trades I'm up 146 pips on USD/JPY, 137 pips on CAD/JPY (and I got in a day late), 23 pips on USD/CHF, and closed out EUR/CHF today up 138 pips.
I'm down on only one trade, EUR/AUD, which sits at -16 pips right now.
Not bad for a system that requires looking at the charts 20-30 minutes a day. Best of all, there's no need for 20 posts a day suggesting tweaks to the system to actually make it work. It works just fine right out of the box.
Thanks again Kevin.
Greetings from Guanajuato, Mexico
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