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Trading with Method BB

  • #161
  • Feb 15, 2007 12:05pm Feb 15, 2007 12:05pm
Quoting ~Shard~
I agree - in the words of Occum, "lex parsimoniae"...
Very impressive ~Shard~; "All things being equal, the simplest solution tends to be the best one"....
  • #162
  • Feb 15, 2007 12:07pm Feb 15, 2007 12:07pm
Quoting amaruenterprise
Very impressive ~Shard~; "All things being equal, the simplest solution tends to be the best one"....
Yeah, I have all sorts of bits of random useless knowledge, so whenever I get a chance to use them, I do!

But seriously, it is true, so the principle is definitely one to keep in mind.
  • #163
  • Feb 15, 2007 12:56pm Feb 15, 2007 12:56pm
made some nice pips on CAD/JPY today

Any possible trades..? I've looked at most of the pairs but none that really is set up or being set up..

Maybe i can't see properly lol

I want to thank you kharvell once again for a great system
Trade what you see, not what you think.
  • #164
  • Feb 15, 2007 12:58pm Feb 15, 2007 12:58pm
What about shorting AUDUSD? I'm new to this, so I could easily be wrong...
  • #165
  • Feb 15, 2007 1:04pm Feb 15, 2007 1:04pm
Quoting ~Shard~
What about shorting AUDUSD? I'm new to this, so I could easily be wrong...
It needs to close into the main channel for us to get in a short..
Trade what you see, not what you think.
  • #166
  • Feb 15, 2007 1:15pm Feb 15, 2007 1:15pm
Quoting karmostaji
It needs to close into the main channel for us to get in a short..
Oh, okay, I understand. I quickly looked at the chart and it's touching those higher bands, so I thought it might be possibly setting itself up for a correction...

Also, rumor has it some of the AUDJPY carry trades might start unwinding, and if this is the case the other AUD pairs will undoubtedly get affected as well.
  • #167
  • Edited 3:00pm Feb 15, 2007 2:31pm | Edited 3:00pm
NEW TRADES:

None. It appears we may be a day or two away from a signal on my charts.

EUR/CHF & EUR/JPY presented Short signals, but both would have been counter-trend trades, and EUR/CHF closed very near the SMA; EUR/JPY closed below the SMA, so I passed on both trades.

Current Trades:

2/14 EUR/USD +4

Closed Trades:

The good . . .

2/14-2/14 CAD/JPY +66

2/13-2/15 AUD/CAD +60

The bad & really ugly . . .

GBP/USD -100

Bad because it was a losing trade . . . ugly because Kevin made money on the very same trade! (Just kidding, Kevin). He correctly noted that this was a counter-trend trade and was content to settle for a few pips profits at the SMA. I stuck the trade out, hoping that it would move further, and of course it went the other way instead. The Pound is down to about 7 ounces right now in my opinion. Oh well, there's always the next trade.
Greetings from Guanajuato, Mexico
  • #168
  • Feb 15, 2007 8:46pm Feb 15, 2007 8:46pm
Quoting wwh
to: Mr. Kharvell

Would you be so kind as to tell me what setting you use for the BB in the 88 method i.e. is it a "close'," "open", etc. The reason for this is my charts are 2 deviations short of yours(only goes up to deviation 3) on eur/usd "all star bar" that was referenced and I am going crazy trying to solve this mystery.If you could shed some light on this it would be greatly appreciated for I am quite excited about this method and eager to participate and brand new on this forum and ff.

Thanks much,

wwh
Hello wwh,
Oanda uses close on its BB bands. My guess as to why our deviations are off is that you either have weekends enabled and that data effects your lines, and also different closing times contribute to this problem. Just trade what you see on YOUR chart, and you should be fine.

Good luck!

Quote
I sold Usd/Jpy when it touched BB1.5 and then closed below it, I know it's kind of risky but I believe in these lines

The U/J is +231 as I write
My Cad/Jpy is +84
And my Eur/Chf i -2

I lost some on the euro but I'm definitely with profit...

It looks like you may have pre-empted USD/JPY a bit from your chart, but it ended up working out for you big time. Also, you did not take profit at the SMA, which ALSO worked out for you. Anyway, congratulations, and good luck to you

Quote
Yeah, I have all sorts of bits of random useless knowledge, so whenever I get a chance to use them, I do!

But seriously, it is true, so the principle is definitely one to keep in mind.
Shard,
I really like that saying, and if you have any more random tidbits of knowledge, feel free to throw them in!


And Yen, ME UGLY?! HAH!

So this week pretty much turned around for me. I guess the forex gods are on my side for now.

Liquidate 1 lot CHF/JPY
Date: 2/16/07
Price: 96.76
Lots: 1
Reason:
Price closed in the main channel after hitting resistance.

Pip P/L: 25 pips

Trade #18

Buy CHF/JPY
Date: 2/15/07
Price: 96.76
Lots: 1
Reason:
Price closed in main channel today. SMA is sloping down so one lot. 64 pips S/L used and 97.08 is my TP

Trade #19

Sell EUR/CHF
Date: 2/15/07
Price: 1.6212
Lots: 1
Reason:
Price closed in main channel today. SMA is sloping up so one lot. 52 pips S/L used and 1.6200 is my TP. I also have one lot from before with the same TP

Total P/L: -9 + 25 = 16 pips

Here is a picture of my trades:
Attached Image
  • #169
  • Feb 15, 2007 10:16pm Feb 15, 2007 10:16pm
Quote
Quote:
I sold Usd/Jpy when it touched BB1.5 and then closed below it, I know it's kind of risky but I believe in these lines

The U/J is +231 as I write
My Cad/Jpy is +84
And my Eur/Chf i -2

I lost some on the euro but I'm definitely with profit...
It looks like you may have pre-empted USD/JPY a bit from your chart, but it ended up working out for you big time. Also, you did not take profit at the SMA, which ALSO worked out for you. Anyway, congratulations, and good luck to you

I did actually took partial profit at the SMA, and moved my stop to BE and did let my profits run.
I'm about +280 pips now
  • #170
  • Feb 18, 2007 4:30am Feb 18, 2007 4:30am
Possible trade for when the market opens is..

CHF/JPY

Trade what you see, not what you think.
  • #171
  • Feb 18, 2007 7:12am Feb 18, 2007 7:12am
CHF/JPY and GBP/USD
Regards
  • #172
  • Edited 8:08am Feb 18, 2007 7:56am | Edited 8:08am
chf/jpy: sma and bollinger bands are curving against us. It did almost touch the third band so it may make it past the sma. The cable just barely dipped past the 1st band for a weak signal. As the sma and bands are curving against us I wouldn't expect a big profit out if it. Dont see it making it past the SMA yet.

Quoting howard
CHF/JPY and GBP/USD
Taking Life One Pip At A Time I officially have my own opinion.
  • #173
  • Feb 18, 2007 10:29pm Feb 18, 2007 10:29pm
Good evening folks,

A significant concern on the chf/jpy is the 50 day sma it is about 10 pips below the sma(our sma).

I have taken the other one for approx. 30 pips because the way the mkt is right now one can get killed.

no more than 1 lot, myself I took a half lot.

good fortune
  • #174
  • Feb 19, 2007 7:44am Feb 19, 2007 7:44am
That G/U didn't turn out well, almost expected as it just went through the first BB.

Waiting for the J/U to close in the tunnel...
  • #175
  • Feb 19, 2007 9:38am Feb 19, 2007 9:38am
CHF/JPY target reached (SMA line) for +25 pips

I'm debating wether to enter UJ if it closes into the channel or not.. cuz JPY interest rate is tom or the day after i think.. hmm
Trade what you see, not what you think.
  • #176
  • Feb 20, 2007 3:49pm Feb 20, 2007 3:49pm
To all,

I hope you can understand that I have decided to pursue a business path related to this method. I don't know specifically what my plans are, but I do know that the more this thread is open, the worse it is for my business. With that being said, I have spoken to Merlin about this thread along with my other 2 Method BB threads being closed (Should happen relatively soon). I hope you all can respect what it is that I am doing, and can appreciate my only request that you keep what I have shared with you to yourselves.

I have intentions of starting a new thread that will still list my trades, but not mention what method I use. If you would like more information about this, PM me.

I wish you all the very best of luck,

Kevin
  • #177
  • Feb 20, 2007 4:15pm Feb 20, 2007 4:15pm
Kevin,

Good luck!
  • #178
  • Feb 20, 2007 4:19pm Feb 20, 2007 4:19pm
Quoting bodyn
Kevin,

Good luck!
Ditto!
Greetings from Guanajuato, Mexico
  • #179
  • Feb 20, 2007 5:18pm Feb 20, 2007 5:18pm
Good Luck bro
Trade what you see, not what you think.
  • #180
  • Feb 20, 2007 5:35pm Feb 20, 2007 5:35pm
Good Luck
Taking Life One Pip At A Time I officially have my own opinion.
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