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  • #30,541
  • Sep 16, 2008 1:37am Sep 16, 2008 1:37am
Quoting psiholog
it was my chart and i dont use boilinger bands as i find them to be lagging indicators like most indicators.
That's not correct. BB's use standard deviation to encapsulate price movement. They are used like S/R to predict the next movement.
  • #30,542
  • Sep 16, 2008 1:39am Sep 16, 2008 1:39am
Quoting altrader
what settings do you use for your BB? On Oanda the default is BB(14,2)
Depending on the TF from 8 to 15 mostly... you have to play with them some. default on accucharts is 21 I think. Shorter TF's get smaller values. Depends on how tight and responsive you want them really. I keep them pretty close. 2/4/8hr is 16 to18...
FUBAR...
  • #30,543
  • Sep 16, 2008 1:40am Sep 16, 2008 1:40am
Quoting NuckingFuts
BB's use standard deviation to encapsulate price movement.
yeah... what he said.

Hey futs, how ya been?
FUBAR...
  • #30,544
  • Sep 16, 2008 1:48am Sep 16, 2008 1:48am
Quoting ak4x
yeah... what he said.

Hey futs, how ya been?
Hey ak, yea good bud, back from my 3 week fishing trip

How's the EU been treating you?
  • #30,545
  • Sep 16, 2008 1:49am Sep 16, 2008 1:49am
Quoting NuckingFuts
Hey ak, yea good bud, back from my 3 week fishing trip

How's the EU been treating you?
sweet. no complaints. where'd you spend 3 weeks fishin? Alaska I hope.

Ha! just closed my ej short for 50. Finally.
FUBAR...
  • #30,546
  • Sep 16, 2008 1:50am Sep 16, 2008 1:50am
guys i understand your points of view. trust me i do....however everybody uses different indicators, different reasons to enter the markets, different patterns, different strategies, some seek 10 pips...others 100...others 1000....for what i do and the way i do it....i seek to enter the market using what works best for me and thats my own two eyes not some indicator which tells me...oh now you sell..now you buy...its like this...i see a pattern...i see a support in that pattern ...i see where fibs are(like earlier 1.4180 massive support based on fibs) ...if that support cannot get broken i say ok...i buy here...tight stop loss just in case..i trust my own judgement.
to me it is lagging...i may be wrong to you...but i am right to me and thats all that matters
Different opinions highly valued, ignorant to slander.
  • #30,547
  • Sep 16, 2008 1:52am Sep 16, 2008 1:52am
Quoting altrader
what settings do you use for your BB? On Oanda the default is BB(14,2)
18,2 is the default in metatrader. I use them for lower time frame scalps and they're pretty good. Check the james16 thread for how Jim uses them on 5 minute charts with PA.
  • #30,548
  • Sep 16, 2008 1:54am Sep 16, 2008 1:54am
Quoting psiholog
i may be wrong to you...but i am right to me and thats all that matters
whoa, "wrong" never even entered my mind. tryin to offer a different perspective is all. I understand tho, this thread will get to ya after a while. carry on with what works for you by all means.
FUBAR...
  • #30,549
  • Sep 16, 2008 1:57am Sep 16, 2008 1:57am
like right now for example....notice how strong a resistance 1.4270 is....intersecting resistances all over the place....clearly it will take a good resason for that to be broken...same on the other hand with 1.4180
Attached Image (click to enlarge)
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Different opinions highly valued, ignorant to slander.
  • #30,550
  • Sep 16, 2008 1:57am Sep 16, 2008 1:57am
Quoting ak4x
sweet. no complaints. where'd you spend 3 weeks fishin? Alaska I hope.

Ha! just closed my ej short for 50. Finally.
Na bud I wish, I'm in Australia. Did a bit of a road trip up the northern end of Queensland in the 4x4 before the wet season starts.

I hear the salmon in Alaska are a load of fun. Hope to get over there when my daughter is a bit older and can handle the flight over.
  • #30,551
  • Sep 16, 2008 1:58am Sep 16, 2008 1:58am
Quoting NuckingFuts
Check the james16 thread for how Jim uses them on 5 minute charts with PA.
Cool, I'll make a note to do that. closed my ej trade too early for sure... dropped another 50 and busted that lower BB after all for 100 pips..

i was gettin tired of waitin on it and it's gettin too close to london to leave anything open. so... 50 on EJ and 30 on EU and I'm goin to bed. catch you later futs
FUBAR...
  • #30,552
  • Sep 16, 2008 2:01am Sep 16, 2008 2:01am
Quoting NuckingFuts
Na bud I wish, I'm in Australia. Did a bit of a road trip up the northern end of Queensland in the 4x4 before the wet season starts.

I hear the salmon in Alaska are a load of fun. Hope to get over there when my daughter is a bit older and can handle the flight over.
Got that right. Pm your email and I'll send you some links...
FUBAR...
  • #30,553
  • Edited 2:53am Sep 16, 2008 2:03am | Edited 2:53am
Quoting psiholog
guys i understand your points of view. trust me i do....however everybody uses different indicators, different reasons to enter the markets, different patterns, different strategies, some seek 10 pips...others 100...others 1000....for what i do and the way i do it....i seek to enter the market using what works best for me and thats my own two eyes not some indicator which tells me...oh now you sell..now you buy...its like this...i see a pattern...i see a support in that pattern ...i see where fibs are(like earlier 1.4180 massive support based on fibs) ...if that support cannot get broken i say ok...i buy here...tight stop loss just in case..i trust my own judgement.
to me it is lagging...i may be wrong to you...but i am right to me and thats all that matters
Everything technically lags in some way, PA and patterns have to form first before you can trade them. S/R and fibs are all drawn from past prices.

EDIT: Ironically, the middle line in the BB is a "lagging" moving average. It is however the standard deviation (outer bands) that gives them their predictive nature.

BB's are technically not a "lagging" indicator like a moving average or macd for example.

But yea, like ak said. Whatever floats yer boat.
  • #30,554
  • Sep 16, 2008 2:05am Sep 16, 2008 2:05am
Quoting ak4x
Cool, I'll make a note to do that. closed my ej trade too early for sure... dropped another 50 and busted that lower BB after all for 100 pips..

i was gettin tired of waitin on it and it's gettin too close to london to leave anything open. so... 50 on EJ and 30 on EU and I'm goin to bed. catch you later futs
Nice work, I say 50 pips a day keeps the boss away

Catch ya bud, will pm my email for those links
  • #30,555
  • Sep 16, 2008 2:37am Sep 16, 2008 2:37am
Still dyin' here with this short. Not even really sure what I'm waiting for at this point. I guess the only chance for a huge price move will be right before the USA rate announcement?
Do you think the karate kid knows kung-fu?
  • #30,556
  • Sep 16, 2008 2:50am Sep 16, 2008 2:50am
Quoting ddblue
Still dyin' here with this short. Not even really sure what I'm waiting for at this point. I guess the only chance for a huge price move will be right before the USA rate announcement?
zew sentiment in an hour and 10minutes....we may see a breakout then...im still long bias but emotions aside...1.4270 is the resistance 14180 is the support
Different opinions highly valued, ignorant to slander.
  • #30,557
  • Sep 16, 2008 2:58am Sep 16, 2008 2:58am
quiet morning ... London traders uncertainty? they have a big bankrupt and today is they decision rate I say we gone push it up on our session .
  • #30,558
  • Sep 16, 2008 3:01am Sep 16, 2008 3:01am
For now I do not Trade, becouse of big Volatility.
Also Big News coming:
1. 4:30 a.m. ET (New YorkTime) UK CPI m/m
2. 5:00 a.m. ET German ZEW Economic Sentiment
3. 8:30 a.m. ET USA CPI Core m/m
4. 2:15 p.m. ET USA Interest Rate Statement
{Promotion Removed}
  • #30,559
  • Sep 16, 2008 3:09am Sep 16, 2008 3:09am
Quoting Algirdas
For now I do not Trade, becouse of big Volatility.
Also Big News coming
Yeah smart way if you are a conservator , but I see big oportunity today is quiet now but later will see some big moves I think , I`m waiting like psiholog to break 1.4270 then I think will see big volatility .
  • #30,560
  • Sep 16, 2008 3:12am Sep 16, 2008 3:12am
Quoting scuturici
Yeah smart way if you are a conservator , but I see big oportunity today is quiet now but later will see some big moves I think , I`m waiting like psiholog to break 1.4270 then I think will see big volatility .
you are mistaken...this is scalper paradise to me....then will try benefit off big move too


btw anyone else see an inverted head and shoulders here?...lots of shadows thats why im asking
Different opinions highly valued, ignorant to slander.
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