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Bollinger Band stop reverse 1min

  • #81
  • Oct 29, 2011 6:08am Oct 29, 2011 6:08am
Quoting jamesr24
Well many futures broker link directly thru ninjatrader and they have entry buttons: buy market, buy ask, buy bid, sell market, sellask, sell bid which are the limit orders . So when the price breaks the gann you can immediatley hit where you want to set the limit order. If it is a buy, you click buy bid, normally the price retraces a pip or point and takes you in. Or buy ask and because the ask price is on the high side of the spread it will take you immediately unless the price takes off and you miss your entry, but that is part of the game. Normally...
That is some very cool order capability, its a pity mbt dont have those to take advantage of there pay for limits program
BTC Return This Year: na
  • #82
  • Oct 30, 2011 5:24am Oct 30, 2011 5:24am
Working on this over the weekend
http://www.forexfactory.com/showthre...42#post5084242
  • #83
  • Oct 30, 2011 12:28pm Oct 30, 2011 12:28pm
Quoting mobthehop
James - may I also ask to know your broker - Thanks in advance
Here is the link to Ninja Trader. Click on the partner tab, than select brokers, you will see all the brokers that Ninja Trader uses.


http://www.ninjatrader.com/
  • #84
  • Oct 30, 2011 5:56pm Oct 30, 2011 5:56pm
Everyone, thanks for the interest, I am trying to get back to all the messages and emails. It seems many want to know about money management and risk vs. reward. Let me take a moment to address that.
Being scalpers we get the opportunity to hone our skills numerous times each session. Practice makes perfect. Like in any job, activity or sport the more you practice your setup the easier it becomes. The goal is to be consistant. And that is where the focus should be is on your CONSISTANCY! Once you have that then risking more and more money becomes more comfortable. Because you know what is going to happen virtually each and every trade. Price is either going to go your way and you will make your 5-10+ pips or it will move against you hit your SL which is set at your previous low or high. The nice thing about trading this way is you have a set group of simple rules to follow and we get multiple opportunities to get better. If you lose on a trade, have a SHORT MEMORY, get over it because there is another trade coming, so get ready.

Become consistant, start with trading live on small lot sizes and then after 1-2 weeks/months of building your confidence, increase the lot size. Stay focused because this works.

As for taking profits, if you happen to like to take the occassional counter trend or bounce trade then grabbing 2-3 pips is fine but if you are with the trend then look to grab 5-10+ pips. What happens is we get so accustom to starting each entry in the negative that the moment we see any profit we jump and take it and close the trade too soon. We will let price go negative -6-7 against us but won't let it go positive +6-7 for us. This thinking has to change. Again this will come with consistancy. If you are having trouble with this you might want close half the trade with +5 and move the sl to your BE. YOU WILL CATCH NICE RUNS!!! But try and trade when there is volume in the market.

As i mentioned before, IMO it is imperative to learn one pair with tight spreads and low commissions. I cannot stress this point enough.

Also for the time being and because of time constraints I will not be starting a thread but I will keep posting in my blog. I will try to add more 15tic charts as well as some 5min charts plus my rainbow tick charts. So those that are interested can see how i am reading the market and setups.

Please let everyone know how you are progressing and try to reach out and help others who seem to be struggling.
Enter Signature
  • #85
  • Oct 31, 2011 1:30am Oct 31, 2011 1:30am
Thanks much, James. Excellent advice obviously coming from much experience...
Being successful means knowing how to take a loss. mm and position size are the secrets to success...not to mention discipline...
The bbstop system has been enhanced.
please visit..
http://www.forexfactory.com/showthre...22#post5086222
  • #86
  • Oct 31, 2011 10:11am Oct 31, 2011 10:11am
James,

Thanks for offering advice and sharing your methods for scalping. It is nice of you to want to help others who wish to trade in the same style on the short term charts, which as we know are usually the most difficult charts to trade for most traders. You seem to know your art well and I'm sure I speak for all who have read your posts when I say you seem like one of the good guys here.
  • #87
  • Oct 31, 2011 10:19am Oct 31, 2011 10:19am
Quoting Roofx
James,

Thanks for offering advice and sharing your methods for scalping. It is nice of you to want to help others who wish to trade in the same style on the short term charts, which as we know are usually the most difficult charts to trade for most traders. You seem to know your art well and I'm sure I speak for all who have read your posts when I say you seem like one of the good guys here.
Have been at it for along time. Am just starting to show some success. Trading forex successfully is a long journey for some and most don't make it all. They just lose all their money.
But it can be done successfully.
And a lot of money can be made.
One of the really exciting side benefits of trying to do this is all the other lessons about life you learn along the way.
The psychology has to be dealt with.
Good luck. It's definitely worth the effort.
Inbetween trades stop by and visit the dialogue http://www.forexfactory.com/showthre...=1#post5087373
  • #88
  • Oct 31, 2011 10:29am Oct 31, 2011 10:29am
Quoting jiva34
Have been at it for along time. Am just starting to show some success. Trading forex successfully is a long journey for some and most don't make it all. They just lose all their money.
But it can be done successfully.
And a lot of money can be made.
One of the really exciting side benefits of trying to do this is all the other lessons about life you learn along the way.
The psychology has to be dealt with.
Good luck. It's definitely worth the effort.
Inbetween trades stop by and visit the dialogue http://www.forexfactory.com/showthre...=1#post5087373...
My message was intended for Jamesr24 but thanks to you also Jiva for starting the thread. I have scalped with the BBstop for years now but never got it to work. The rangey times kill any profits I make on the trends and so break even month to month is the best I can do. I don't know what the Gann Hilo can offer that the BBstop can't on the same settings but Jamesr24 is making it work very well for him and maybe we can too. Thanks to all who have contributed to this great thread. Good scalping threads that aren't total nonsense are hard to find on FF.
  • #89
  • Oct 31, 2011 11:33am Oct 31, 2011 11:33am
Hi all ,

With the BBands_stop_V1 is not possible to choose a decimal for
deviation ,only a integer (1,2,3,...).

I have modified the code to have a decimal (0.50,0.66,1.32 ,1.50,...)

I name this indicator : BBands_stop_v2

On example : lenght periods 12 ,and deviation 0.50.

Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdbbandsstopv202.gif Size: 13 KB
Attached File(s)
File Type: mq4 BBands_Stop_v2.mq4   5 KB | 865 downloads
KISS&V :Keep it simple safe & visual
  • #90
  • Oct 31, 2011 6:03pm Oct 31, 2011 6:03pm
Quoting Sohocool
Hi all ,

,,, I have modified the code to have a decimal (0.50,0.66,1.32 ,1.50,...)

I name this indicator : BBands_stop_v2 ,,,

Regards.
this is great! thanks Sohocool
  • #91
  • Nov 1, 2011 7:57am Nov 1, 2011 7:57am
Quoting brisvagus
Hi Jiva, please excuse my ignorance but where do i put the tester thingo in my folders to make it work. Im assuming it dosnt go in indicators.
Many thanks Steve
Can you send me the instruction how to do it too.

Edd
  • #92
  • Nov 1, 2011 8:29am Nov 1, 2011 8:29am
Quoting Edd Ganuelas
Can you send me the instruction how to do it too.

Edd
It goes in the experts folder... It's an ea...
  • #93
  • Nov 1, 2011 12:17pm Nov 1, 2011 12:17pm
But as most live, sucessful traders will tell you the HOLY GRAIL is the broker that allows you to scalp, does not slip you and has tight spreads 0-.5 plus low commissions. These brokers do exist but most require larger deposits of 10-25k. The other option is to trade the futures contracts of the EU(6e on ninjatrader) or your favorit pair. The initial deposits are not as large and most futures brokers spread is 1. But if you use limit orders to take you in trades the spread is typically zero plus their commissions compared to the spot fx market is most times at least half if not more than forex. Also futures are very liquid and highly regulated so no slippage or lagging nonsense.

Just some thoughts...[/quote]

Will you be kind enough to send to my inbox which broker to contact that offers low spread as you mentioned above?

Thanks a lot.

Edd
  • #94
  • Nov 1, 2011 1:20pm Nov 1, 2011 1:20pm
Quoting jiva34
Taking me a little getting used using the gann indi. But this is really beautiful. By keeping that buffer of around 16 pips away from the 50sma, it's easy to stay out of consolidations. That's a dream come true!!!!!!!!!!!!!
Although there are ways to trade a range bound market. The great thing is to be able to identify when it is range bound or flat.
This'll do it.
Really nice stuff.
I just added a 16 pip levels to the ma.
Jiva,
how do you put the colored thing on the 50 ma as shown in your post

Thankk you.

Edd
  • #95
  • Nov 1, 2011 1:32pm Nov 1, 2011 1:32pm
when price ranges there are a number of ways to trade it but a simple stoch, adx or cci on the 1 or 5min will show oversold and overbought times. You just go counter trend trade (opposite), you can you use the gann to hold you into the trades for a few more pips. Just a thought
Enter Signature
  • #96
  • Nov 1, 2011 3:06pm Nov 1, 2011 3:06pm
this actually works pretty good if you just go for few pips
  • #97
  • Nov 1, 2011 3:11pm Nov 1, 2011 3:11pm
Quoting Edd Ganuelas
But as most live, sucessful traders will tell you the HOLY GRAIL is the broker that allows you to scalp, does not slip you and has tight spreads 0-.5 plus low commissions. These brokers do exist but most require larger deposits of 10-25k. The other option is to trade the futures contracts of the EU(6e on ninjatrader) or your favorit pair. The initial deposits are not as large and most futures brokers spread is 1. But if you use limit orders to take you in trades the spread is typically zero plus their commissions compared to the spot fx market is...
Will you be kind enough to send to my inbox which broker to contact that offers low spread as you mentioned above?

Thanks a lot.

Edd[/quote]

James uses Ninja Trader, go to their website and you will find all the brokers that use NT as their charting pkg.
  • #98
  • Nov 2, 2011 9:23am Nov 2, 2011 9:23am
The first chart is the 5M with an envelope anound the 50SMA. The second chart is 1M with Gann High Low, 250 SMA, and in panel two is an ADX with strength bars and a 1 and 3 SMA set to typical. The 1 and 3 represents a visual way to see PA. The green arrows were my trades. On the 5M chart was generally up all session, you can see whan it closed above the envelope, however as price was generally up all session, I was only looking for long signals.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 6E 12-11 (5 Min) 11_2_2011.jpg Size: 94 KB
Click to Enlarge Name: 6E 12-11 (1 Min) 11_2_2011.jpg Size: 146 KB
  • #99
  • Nov 2, 2011 10:16am Nov 2, 2011 10:16am
That completley strays from the posters initial intentions. Why do all thread spin off into this. Start your own thread if you want to chat about your own system.
  • #100
  • Nov 2, 2011 11:26am Nov 2, 2011 11:26am
Quoting -Ollie
The first chart is the 5M with an envelope anound the 50SMA. The second chart is 1M with Gann High Low, 250 SMA, and in panel two is an ADX with strength bars and a 1 and 3 SMA set to typical. The 1 and 3 represents a visual way to see PA. The green arrows were my trades. On the 5M chart was generally up all session, you can see whan it closed above the envelope, however as price was generally up all session, I was only looking for long signals.
Ollie, those are some nice enhancements. Is that ADX indi compatible with MT4? And are the strength bars part of that indi?

BTW, if jiva doesn't want your input, let him tell you. But since he starts a new thread every week or so, I'll go out on a limb and assume he's open to new ideas.
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