i mean there were only 2-3 signals for the last few months. unless you are trading very big timeframe, if not, how could you wait for the entries since they only come up once or twice every few months???
anyway, i am testing this with M5 as a bigger trend and M1 as entries. so far am doing 1:1 ratio as 15pips SL and TP for the pound.
been doing this for a week. stillt rying to gather more information here.
also, if you are looking at the H1 chart, there was an entry at aug 20 for the pound at 5560 sell signal and few hours earlier price retraced back and i think it woulda been a break even for the ones who trade them?
First of all thanks to those who have been testing this strategy over the last couple of weeks. I have been looking at it on a M5 chart rather than M1 as the M1 (as others here agree) has too many false signals. I'm also looking at having a fixed stop and TP.
For me the H1 charts and higher are not tradable with this strategy because there's not enough entries and I don't have the patience. Also the entries can come at any time of the day or night and I'm not at my screens 24/7 (just about 18/7 haha).
When the M5 signal comes and it agrees with the M15 Blob it might make for a higher probability trade.
No, after all I decided to use SL 50, as I did before, with other systems. But it is not because 35-40 pips is not enough, I just feel myself very comfortable with SL 50, I got used to it.
Also the entries can come at any time of the day or night and I'm not at my screens 24/7
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Yes, it's a good point!
However I know that some indicators not only show the arrow and give a sound signal, but can also send an email. I think with the email notification even a very busy man could successfully trade H-1 and especially H-4.
I'm not a programmer, but maybe somebody could add an email notification to the indicator.
So let me make this clear, you guys are using settings length =8 and dev =2 for the H1 chart?
And why is that so? Is it because those are the default settings for the BBands?
Also, i thought the orignal poster of this method uses the length = 8 BBands settings?
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Yes, I use these settings for the H-1 because they are the default settings for the BBands. From the very beginning I use the original indicator, I never used the new one (with the alert). And as far as I understand sanyhuis uses my template, which contains the original indicator with the default settings.
I'm not sure, but I was under the imression that Roofx also uses the old settings (8, 2).
Probably I was wrong about Roofx's settings. I never downloaded his template, just the original indicator itself, and the default settings are very good on the M-15 and especially on the H-1 and H-4.
Here is one with and alert. I am sure there are ea's out there already that use this indy. If I find one I will post it here for you.
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Anyone out here still use method of trading? If so, could someone possibly tweek this alert to add a send email/text message to it? I'm not a programmer, or else I would just do it myself.
Anyone out here still use method of trading? If so, could someone possibly tweek this alert to add a send email/text message to it? I'm not a programmer, or else I would just do it myself.
Thanks in advance if anyone can help.
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Guess I'll take it that no one can help. One last attempt I guess and then I'll let it drop.
