BB Trading

My Journal is about trading Bollinger Bands and it's reverse to the mean.

TimeFrame: 15 minutes
Pairs: just five - eur_usd, aud_usd, gbp_usd, eur_jpy and usd_jpy

When to enter a trade:
I enter my trades when there is a significative deviation in price noted by the bollinger bands (20,2).

Main idea: price tends to revert to the mean. It may take a while, but it always come sooner or later. I build a position towards the mean, so when it does, all positions should payoff or at least stay breakeven.

First Trade

Edit: Closed Last Floating Trade. First set trades (there were 3) closed in profit.

At this point, it's safe to say that the trade will not go where we planned in the first place,
So, backup plan is now activated. All targets setted to breakeven. If we have winning positions we close them now, and wait for the next setup.

Why close now? It's safer, and the BB mean reversion no longer gives us a good setup. Since we do not know what the market will do, and i do not want to guess, we close them now.

Second Trade:
Price deviating from the mean, so it's a nice setup. Only a strong uptrend can take away these possible profit pips. In such case (new high made in the next candles), we set the target profit to breakeven again.

Target is conservative in this case, is the first breakout candle.

Well not a good day so far. Price is trending, so nothing we can do about it.
HAve 4 positions so far on the usd_jpy short. All setted to breakeven +1.
Now just waiting for price to come to me.

Price just came to me. last one of 4 short positions now closed. Could be the start of a downtrend? Maybe closed too soon ? I don't know. But i am not here to guess, i am here to gain some pips, and fight greed. Other trades will come

Waiting for the next BB deviation to start a new set of trades...