The Bollinger Bandit Strikes Again

Discussion in 'Index Futures' started by profitseer, Aug 21, 2002.


  1. I'm not really sure what you mean by "Do I have a minimum
    breakout? Do you know how to make snap shots of your
    computer screen? Download this program (it has a 30 day
    free trail) and take a picture of your chart and post it,so
    I can see what you mean.

    www.techsmith.com/products/snagit/download.asp
     
    #21     Aug 23, 2002
  2. Until you can post something, maybe this chart helps a little.
    This is from yesterdays trading.
     
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    #22     Aug 23, 2002
  3. TG

    TG

    I use BBands on my core stocks, along with MACD,RSI and ADX- give me great signals consistently. Wait for moments like EBAY around 3 cst when every signal said act , even confirmed by hammer candle. Nice 1 point move. Have found it to be money maker almost 100% of the time. Try it,you'll like it.
     
    #23     Aug 24, 2002
  4. TG what exactly do you look for when using BB's, ADX, RSI. MACD... are u looking to fade extreme moves? trade with the trend? Whats your strategy?


    --MIKE
     
    #24     Aug 24, 2002
  5. js1257

    js1257

    TG show a chart about what you are talking about, like the ebay move you are describing.
     
    #25     Aug 24, 2002
  6. TG

    TG

    I dont know how to send a chart, but I,ll tell you what I have on my setup and you can recreate. I use esig 1 day advanced chart, 1 minute candles, studies include BBands, MACD,RSI,ADX. Around 2CST, EBAY had moved below lower band, formed a hammer and RSI was extended and ADX was as well with reading of 50. Compq had stabilized, EBAY had moved its ATR. Bought when it moved above band, figured risk reward 3:1. Nothing said sell me till RSI hit 70 and candle moved outside upper band.
    Apologize for not being able to send chart, Ill figure it out soon. Kind of dangerous around computers.
    Setup produces 3 to 5 plays a day on my core stocks-Ive been very happy with results just trading first and last part of day.
     
    #26     Aug 24, 2002
  7. Breakout, I appreciate your charts posting. But you've been posting charts for days that have more or less good direction. Could you please post charts for 08/15 which was a pretty ugly range day? How did ya do on that day?
     
    #27     Aug 24, 2002

  8. Hi sunnyskies...that's a lot of work my friend...lol

    My charts are really long since I use 100 tick bars and I
    had about 15 trades that day.

    Actually, the day started pretty good. I was up about
    $700 before noon. Then after that big quick sell-off around
    noon, I got chopped to pieces the rest of the day and
    was down about $500 when I surrendered.

    I quess that's what I get for being greedy. :(

    But, you're right, it was an ugly day after that big sell-off.

    I try not to let a losing day get me down, though. I'm
    more concerned whether or not I'm profitable at the end
    of each month.

    You'll have days like 8-15 all the time...sometimes 2 or 3 in a
    row. It's those days like July that I posted earlier that get
    you back in the money.


    To me, that's the true trading discipline. To be able to
    go through 1,2 or 3 losing days in a row, but not get
    discouraged, and stick to your plan.

    Sorry, if I seemed bias on the charts I posted. But, I can
    assure you that traders have been trading support and
    resistance levels for a long time. If you're just of average
    intelligence like me, and you're looking for a simple
    method to trade, it's hard to beat.

    It's interesting to watch on the charts. When price starts
    breaking support or resistance, you can see the the
    price action and volume get suddenly active.


    I usually start with a 20 period "price channel" in the morning,
    and slowly widen it to about 50 periods by 10:30 or so.

    If you can't draw 100 tick bars, use 3 minute bars. Lay a 20 or
    30 period "price channel" and a volume indicator. Preferably,
    one that distinguishes "up" and "down" volume like my
    chart does. Wait for a bar to "close" above the resistance
    line or below the support line, then get in and put a tight
    stop in.

    Sure, you'll get whipped a few times...but what method doesn't? If you're going to be a trader, you're going to
    "HAVE TO LEARN TO LOSE"...it's part of the business.

    I'll try to post a few real-time charts monday or tuesday, and
    get some losing trades in there,too



    :D
     
    #28     Aug 25, 2002
  9. Been in the lab all weekend thanks to you breakout. If I see one more magenta line! I figured out they don't call them donchian channels anymore. N days or something like that.

    So far, I have n period 30 and dmi 13. Almost all breakouts are accompanied by crossovers. But the ones that aren't don't amount to much, and the ones where the breakout and the crossover are almost simultaneous are the best in terms of reliability. And that's as far as I've gotten so far.

    No need to post any losing charts on my account, I already know what they look like.
     
    #29     Aug 25, 2002
  10. oh yeah, I forgot to tell you. Fairly awesome system when you get a good breakout is use the 50ema as a stop. Got a friend who when he was young, went short NQ on a breakout and the 50ema didn't stop him out till he was an old man.

    Fortunately I am young and in the prime of my life, cause it's going to take me a thousand trades to make what he made on that one.
     
    #30     Aug 25, 2002