Scalp & Swing

EURUSD, M15, 2011 March 23

M15 (CCI) Top, so M30 & Daily, too. H4 is struggling around the Zero-Line. Weekly high but monthly could go further up.

Enter Short again EURUSD at DPV 1.4205 (but not with the 250.-$ Account. It's too small).
and set pending order at mR11.4218/DR1 1.4231 short again.

...and will hedge these positions if the market price would go further up (monthly chart not optimal for a down investment).

Silver, M30, 2011 March 23

Trading the Silver at M30 Level could be a great deal.

I will take the risk over with some shorts again (but not with the 250.-$ Account. It's too small)

see, #15, please.

Go out at 1.4140 just now with one position.

Profit: +40 pips

EURUSD, M1/M5

Short Term Trade

Take the risk over at mS3 1.4114 with an Enter Long

Stop Loss: 1.4100

Be aware I have some open positions at USDCHF (Long). My risk seems balanced.


I try to trade Swing Trades at Daily & H4 with some Shorts (the market movement seems for me more going down) and at M1/M5 some ups in the meantime.

Profit Today
250.-$ Real Account
Target: 2.50$ a Day (1%)

Profit: +25.55 $

(+ 10% within 1 Day)

Actual
Open Trades 14:57 GMT+1

It's extremeley dangerous to trade Silver with 0.01 lot size with such a small 250.-$ Account.

If there are no abrupt market movements may be luck will be at your side. But then it's gambling and not trading.

Gambling or Trading?
By Trading the Forex Market, it might be favored to trade the silver 0.01 lot size at a minimum of 1'500.-$ or 2'000.-$ Deposit Account.

see #24, please.

Scalping Example
Trading style: CCI(14) Tops & Bottoms with regard to the Pivotals

Exit at DS2 1.4136

Profit: + 22 pips

EURUSD, M5, 2011 March 23

Enter Short at 1.4153 (DS1 1.4162)

M5: Former Support now Resistance?
Could be if the main trend is changing (e.g. H4 from up to down)

see #27, #28, please.

Learning when to scalp and when to swing...

By swing trading you could hold this trade till the next pivotal point DS1 1.4162, say 1.4156 (by higher Vola and Momentum) and would have made a profit around +42 pips (say 20 pips more).

Hi Forexcube,
Nice new thread you have here.
As usual, your pics are very nice and interesting. Your teachings are great!!

I concur.

Hi bcarbon!

Many thanks!

Hoping to hear from you.

FXcube

Thank you for your attention!

FXcube

EURUSD, H4, 2011 March 24

Further downside movement seems possible, if the support area (resistance from 2011 March 07 till 2011 March 14) will be broken.

Forexcube,
You use BB period 50. Can you develop a bit on that. When I use them, I use the
20 period, standard deviation 2 or 3 or both. What is it about 50 period.
Thank you,
Bcarbon

EURUSD, M30/H1, 2011 March 24

CCI (20) Top at M30 & H1.

Set an enter short at 1.4206

& a pending order short at mR2 1.4124

Hi Bcarbon

You can use BB20 quite as well when trading M5!

Bollinger Band do not provide absolute signals when prices touch these bands. These signals should only be taken as relative and confirmed in conjunction with other technical indicators like the Commodity Channel Index (CCI), Moving Average Convergence Divergence (MACD), Relative Strength Index (RSI) and others. When the bands happen to tighten as they do when the volatility in the market decreases, rapid and substantial price moves often take place after the band tightens. This is something an experienced trader always keeps in mind. The bands that are plotted above and below this moving average are the moving standard deviations. These bands vary in distance from the average as a function of market volatility. Two standard deviations above and below the average is the recommended settings for these bands.

In case of very short timeframes, the moving average period should be lowered to 10 and the standard deviation should also be decreased to one and a half for the two bands. But sometimes, you want to trade a longer timeframe. In that case, 50 is usually used as the period for the moving average with longer trends and the standard deviation settings for the two bands should be increased to two and half standard deviations.
For the Forex market 20 period moving averages are the best. However, the average that is selected should be descriptive of the timeframe chosen. Trading bands is one of the most powerful concept available to a trader.

Two reason for prefering the BB50
First:For the simple reason that I use EMA21, so I don't need of some sort the BB 20.
Second: I like the scalping EURUSD with Bollinger Band 50 sometimes e.g. see "Scalping with Bollinger Band" #38, please (but without RSI) but you could use the BB20 just as well, e.g. see the link of a scalping trading strategy at #39, please.

Kindest regards
FXcube

EUR/USD Scalping With Bollinger Band

I love the simplicity of the system, and it seems to work pretty well! However, I was not fully satisfied about the entry-rules and the stop loss. Prices can move up and up and up between BB 50-2 and BB 50-3.
So I thought about tuning the system up a little bit, making the entries more reliable.
To do this, I added RSI 8 (lines on 30 & 70) and Full Stochastics 14,3,3 (lines on 20 & 80)

We now use the following indicators:
Bollinger Bands period 50 deviation 2 (yellow)
Bollinger Bands period 50 deviation 3 (blue)
Bollinger Bands period 50 deviation 4 (red)
RSI 8 (horizontal lines on 30 & 70)
Full Stochastics 14,3,3 (horizontal lines on 20 & 80)

The entry rule stays the same, when price crosses at least half way to the upper blue bollinger band, we sell. Price will retrace to the middle red line (MA50). This is where we take profit! Taking profit a little bit earlier could be wise, because it is not 100% guaranteed that the retracement will move all the way to the MA50. But, ONLY sell when RSI is above 70 and the Full Stochastics (almost) hit the 80 line. Opposite story for a long entry!

http://forextradingsystemsreview.net.../scalp_14s.png

I don’t use stop losses with this system, because (especially on 5M time frame) entries are nearly almost a success. When prices go the wrong way, I just double my bet! I take profit when price nearly reaches the MA50 during a retracement.
Having patient is very important when using this scalping system!

http://forextradingsystemsreview.net...scalp14_1s.png

http://forextradingsystemsreview.net...bollinger-band

A simple scalping strategy on the one minute chart. Bollinger Bands using 21 & 2, SMA.

http://forex-strategies-revealed.com...g/bb_rsi_range

2011 March 24
250.-$ Real Account
Target: 2.50$ a Day (1%)

Profit: +36.56$

(+14.6% within one Day)