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Bollinger Band Support and Resistance Channels

  • #21
  • Nov 1, 2009 4:12pm Nov 1, 2009 4:12pm
Quoting Turveyd
I tried hard, best results are with a averaging down strategy with a 30pip SL on the first trade but I tried and tried for over a year, it's a bad strategy cause it puts you on the wrong side of bigger moves that hurt to often.

After the effect, yes BB's look great, live not so.
I would say it was just a bad strategy then. A fixed stop wont last through different conditions and ranges or a wide variety of pairs for a long period of time. I would think in terms of ratio rather then a set number for a stop so its more adaptive.
  • #22
  • Nov 1, 2009 4:32pm Nov 1, 2009 4:32pm
Quoting Kas1
I would say it was just a bad strategy then. A fixed stop wont last through different conditions and ranges or a wide variety of pairs for a long period of time. I would think in terms of ratio rather then a set number for a stop so its more adaptive.

That was more of a example of my averaging down plan, I had a BB Band which was my OHHH NO this is going against me BAIL.

The system works in choppy markets so July / August this year it would of worked great, but currently you'll get in near the BB line and it'll move 100pips down and it'll still be near the ever expanding BB line, it gives you a range then the range grows.

If you can use it to time pull backs with the trend where the trend hasn't broken then that could work better.


Good luck with it, but consider yourself warned this method cost me dearly and yes after the moves it looks so easy
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #23
  • Nov 1, 2009 5:45pm Nov 1, 2009 5:45pm
Quoting Turveyd
That was more of a example of my averaging down plan,...
To me averaging down is not a good idea. Take a small expense before it becomes a big one and move on to the next trade. If your stop is set at 30 all the time it is fixed and wont adapt to the changing range. Take a look at nanningbob 60x90 thread it is very similar to this idea except he has gone more in depth. I prefer a range that is expanding. Stop saying it won't work consistently because it didn't for you. Maybe it just wasn't your style. I don't need your warning. You assume everyone else and myself would approach things like you.
  • #24
  • Nov 1, 2009 5:58pm Nov 1, 2009 5:58pm
Quoting Kas1
To me averaging down is not a good idea. Take a small expense before it becomes a big one and move on to the next trade. If your stop is set at 30 all the time it is fixed and wont adapt to the changing range. Take a look at nanningbob 60x90 thread it is very similar to this idea except he has gone more in depth. I prefer a range that is expanding. Stop saying it won't work consistently because it didn't for you. Maybe it just wasn't your style. I don't need your warning. You assume everyone else and myself would approach things like you.

Dude, no need to get defensive I'm trying to help!!

Averaging down is shunned around here but it's a good strategy, as long as you have a reduced risk on each averaged down position, your getting the same upside potential with a lower risk, but you need a reasonible fixed line in the sand which has a good chance of A) not being hit and B) if hit YOU need to be out.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #25
  • Nov 2, 2009 6:19am Nov 2, 2009 6:19am
Quoting Turveyd
Dude, no need to get defensive I'm trying to help!!

Averaging down is shunned around here but it's a good strategy, as long as you have a reduced risk on each averaged down position, your getting the same upside potential with a lower risk, but you need a reasonible fixed line in the sand which has a good chance of A) not being hit and B) if hit YOU need to be out.
So what are you saying I can't defend my opinion? When you make a statement like "Sorry give up and move on" I don't think its helping any. I don't really care who likes averaging down around here. I don't.
  • #26
  • Nov 2, 2009 5:36pm Nov 2, 2009 5:36pm
Quoting Kas1
So what are you saying I can't defend my opinion? When you make a statement like "Sorry give up and move on" I don't think its helping any. I don't really care who likes averaging down around here. I don't.
Come back to me in a few months, if your getting richer using this then I'll fully admit I was wrong, if your getting poorer then vice versa deal

Hey hope your right I like to see people making money and don't like seeing them lose, hence my trying to help.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #27
  • Nov 2, 2009 10:56pm Nov 2, 2009 10:56pm
Quoting Turveyd
Come back to me in a few months, if your getting richer using this then I'll fully admit I was wrong, if your getting poorer then vice versa deal

Hey hope your right I like to see people making money and don't like seeing them lose, hence my trying to help.
Well you are not really helping. I don't have time to waste proving anything to you. If the best idea you can come up with is some fixed stop you have some more to think about. I started the thread as an idea of how to layer and use bb channels, not if bbands work or not. Its not how long you test a system for but how many trades you've done. I don't really care if you admit anything.
  • #28
  • Nov 3, 2009 6:27am Nov 3, 2009 6:27am
Quoting Kas1
Well you are not really helping. I don't have time to waste proving anything to you. If the best idea you can come up with is some fixed stop you have some more to think about. I started the thread as an idea of how to layer and use bb channels, not if bbands work or not. Its not how long you test a system for but how many trades you've done. I don't really care if you admit anything.

I'm helping by keeping it real and trying not to waste the time you admit you haven't got to waste.

And you've not got to prove anything to me, you've got to prove it to yourself.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #29
  • Last Post: Nov 3, 2009 10:11am Nov 3, 2009 10:11am
Quoting Turveyd
I'm helping by keeping it real and trying not to waste the time you admit you haven't got to waste.

And you've not got to prove anything to me, you've got to prove it to yourself.
I'm not going to get into what is real. You think you are helping that's great. I don't think so and I really don't want to argue about if you are or not. I say post less and read more.
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