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Bollinger barbeque

  • #21
  • Jul 20, 2009 4:46am Jul 20, 2009 4:46am
hm, nice ideas.
I noticed GC moves the opposite as EURGBP recently. Also noticed EG may suddenly reverse at double zeroes. This means sudden reversal for GC too. Maybe can be used to filter out some bad trades.
forget about tomorrow, just steal away into the night
  • #22
  • Jul 20, 2009 8:39am Jul 20, 2009 8:39am
Thanks for the tip, I will look into it...

Quoting spekitox
hm, nice ideas.
I noticed GC moves the opposite as EURGBP recently. Also noticed EG may suddenly reverse at double zeroes. This means sudden reversal for GC too. Maybe can be used to filter out some bad trades.
  • #23
  • Jul 20, 2009 9:14am Jul 20, 2009 9:14am
Sorry for my question
your last trade- one red candle and you are in trade.. its not necessary have two red candles before enter on outer bands?
thx
bj
BJ
  • #24
  • Jul 20, 2009 10:34am Jul 20, 2009 10:34am
Hi barinjt
Thanks for asking. No, it's enough with one red candle.
But if would have been a BIG upmove (those with +10 massive green candles) I would have waited for two reds.
  • #25
  • Jul 21, 2009 4:08am Jul 21, 2009 4:08am
A new trade with false signals. I first entered long at the green candle closing above middle line. But reversed it to a short when a red candle broke the middle line AND EMA250. First TP already hit, and the rest 50% is currently at +80 pips. SL moved some pips above last candle.

Maybe we need some kind of confirmation when price is around EMA250 to avoid false signals?

http://www.freeforexguides.com/images/gbpchf6.gif
  • #26
  • Jul 21, 2009 1:19pm Jul 21, 2009 1:19pm
Ok, the rest 50% got stopped out at +65 pips.

I'm currently testing the BB barbeque at EUR/JPY with a small account. Looks like it following the same patterns like GBP/CHF, so here is a long opportunity...

http://www.freeforexguides.com/images/eurjpy.gif
  • #27
  • Jul 21, 2009 3:55pm Jul 21, 2009 3:55pm
Hi All ,

The thing I really like about this system is its based on S/R and Price Action . Thats a combination thats hard to beat . Please keep the chart posts coming grillbritt . And thanks for sharing the methodology .




EZ
" Master Your Set-Up , Master Yourself "
  • #28
  • Jul 21, 2009 4:38pm Jul 21, 2009 4:38pm
Thanks for the kind words EZ!

First TP hit at +70 pips, my next target is the upper BB2.0.

http://www.freeforexguides.com/images/eurjpy2.gif
  • #29
  • Jul 21, 2009 5:50pm Jul 21, 2009 5:50pm
This system looks like it could work on higher time frames also. Any reason for 250 ema. I guess because this ema has worked well in the past right? With respect to whipsaws with the ema...if a candle close above ema & you are short then you have to either get out or go long. Sooner or later price action will get away from the ema giving you better direction.
  • #30
  • Jul 22, 2009 12:42am Jul 22, 2009 12:42am
very nice- I also took this trade with profit,
now youre out from this trade yes?
bj

Quoting grillbritt
Thanks for the kind words EZ!

First TP hit at +70 pips, my next target is the upper BB2.0.

http://www.freeforexguides.com/images/eurjpy2.gif
BJ
  • #31
  • Jul 22, 2009 3:12am Jul 22, 2009 3:12am
Quoting ferndog
This system looks like it could work on higher time frames also. Any reason for 250 ema. I guess because this ema has worked well in the past right? With respect to whipsaws with the ema...if a candle close above ema & you are short then you have to either get out or go long. Sooner or later price action will get away from the ema giving you better direction.
Yes I guess it could work on higher time frames, but the 1H suits me the best. As you said the 250 works better than the 200 for GBP/CHF with this method. With the 200 we would have more false signals.
I feel safer the longer away from EMA price is, so I guess I have to be careful around the EMA.

Quoting brainjt
Hi grillbritt
very nice- I also took this trade with profit,
now youre out from this trade yes?
bj
Hey brainjt. Congrats to the profit, did you try this method? Yes I'm out. I moved my SL to break even after the first target was hit.
  • #32
  • Jul 22, 2009 7:46am Jul 22, 2009 7:46am
Hi Ferndog ,


Yes , the method works well also on 4HR and Dailies , however the SL will be pretty large if using previous swing low/high or below Bollinger Bands as S/R .



EZ
" Master Your Set-Up , Master Yourself "
  • #33
  • Jul 22, 2009 7:50am Jul 22, 2009 7:50am
Hi Grillbritt ,


Another profitable trade with this method . You are cranking out some nice PIPS with it . I hope it continues for you . The method is very consistent if rules are followed . Also , with this method it does take some time to watch it and feel comfortable with it , but its based on sound S/R and Price Action principles so it should continue work consistently in the future .




EZ
" Master Your Set-Up , Master Yourself "
  • #34
  • Jul 22, 2009 9:05am Jul 22, 2009 9:05am
Hi
Short opportunity at GBP/CHF. The close below middle line was not as clear as I want so I short with small lot size. First TP at lower line.

http://www.freeforexguides.com/images/gbpchf7.gif

I'm pretty sure this method works on the most time frames with a little adjustments. I have only tested it on the 1H charts.

I'm having an incredible start and I hope as well it will continue...
  • #35
  • Jul 22, 2009 5:07pm Jul 22, 2009 5:07pm
Well. That trade above did not turn out at expected. But there seems to be a new short opportunity now.

http://www.freeforexguides.com/images/gbpchf8.gif
  • #36
  • Jul 22, 2009 5:15pm Jul 22, 2009 5:15pm
On that trade that went against you maybe you should have waited for a 2nd short candle to confirm. What do you think? Because that way you would have had 2 short candles in a row. You could have entered right before the hour was up knowing it was going to close as a short candle.
  • #37
  • Jul 23, 2009 12:34am Jul 23, 2009 12:34am
I think that trade in th middle is more risky,
look GBPCHF - bellow 250 short + price bellow middle- white elipse, and trade was bad, Ill try trade only on outer- or necess. other filter
bj-
Attached Image (click to enlarge)
Click to Enlarge Name: bb.png Size: 20 KB
BJ
  • #38
  • Jul 23, 2009 1:20am Jul 23, 2009 1:20am
Quoting grillbritt
A new trade with false signals. I first entered long at the green candle closing above middle line. But reversed it to a short when a red candle broke the middle line AND EMA250. First TP already hit, and the rest 50% is currently at +80 pips. SL moved some pips above last candle.

Maybe we need some kind of confirmation when price is around EMA250 to avoid false signals?

Greetings grillbritt!
Nice Bolli thread... just saw it today.
the unique thing here is that u use 2 Bolli's with different Std.Dev's (standard deviations).
This is 1 variation mentioned by John Bollinger (Bolli creator)...

to avoid false sginals/to add confirmation, u can use a simple 2 short-term MA cross; use oscillators (CCI, Stochs, RSI, MACD, your choice); or use a volume indicator (such as Better Volume 1.4; u can search for it).

Hopefully i can contribute a few posts/charts here from time to time. Im not promising anything though...
Thanks, & hope this helps!
  • #39
  • Jul 23, 2009 6:17am Jul 23, 2009 6:17am
Thanks for all the nice replies! That last trade hit my first TP and the rest got stopped out at BE.

Quote
On that trade that went against you maybe you should have waited for a 2nd short candle to confirm. What do you think? Because that way you would have had 2 short candles in a row. You could have entered right before the hour was up knowing it was going to close as a short candle.

Yes I sometime use two candles as a confirmation, but mostly after big moves. Often I miss the big moves when I have to wait for two red/green candles around the middle line.

Quote
I think that trade in th middle is more risky,
look GBPCHF - bellow 250 short + price bellow middle- white elipse, and trade was bad, Ill try trade only on outer- or necess. other filter
bj-

Yes it was pretty risky as I didn't see a VERY clear close below middle line. Lesson learned

Quote
Greetings grillbritt!
Nice Bolli thread... just saw it today.
the unique thing here is that u use 2 Bolli's with different Std.Dev's (standard deviations).
This is 1 variation mentioned by John Bollinger (Bolli creator)...

to avoid false sginals/to add confirmation, u can use a simple 2 short-term MA cross; use oscillators (CCI, Stochs, RSI, MACD, your choice); or use a volume indicator (such as Better Volume 1.4; u can search for it).

Hopefully i can contribute a few posts/charts here from time to time. Im not promising anything...

Hello SupremeChaos, thanks for looking at this thread. I've had some suggestions to add a oscillator or volume indicator as a confirmation. I know the win ratio of this method (+70% in the past). But methods could (almost) always be modified to be more profitable and developed into a completely different method after adding more indicators.

But I'm currently investigating how the BIG moves could be sorted out and decrease whipsaws...
  • #40
  • Jul 23, 2009 6:58am Jul 23, 2009 6:58am
Good system, may serve as a filter

Zuma
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