BollingerBands

[columbus]

@columbus - Sir i am reading and trying to understand the links that you provided and they are really helpful.

I am planning to do paper trade initially on the basis of BB and RSI.Have few queries.

1. I am using Trade tiger to track charts. Can i track BB on 1 min time frame ? Will it be fruitful ?

2.On page 14 , #132 , you have posted a self-explanatory chart. I am unable to understand it. In such cases how should we take positions as no candles are piercing top/lower bands

3.Sir, we go short when a red candle pierces the top band and long when a green candle pierces a bottom band. Apart from this , are there any other techniques for entry and exit ?

Hi ankit3066,

It is always a good idea to start with paper trades, whatever the Time Frame be.

1.With 1Min TF there will be many Entries and Exits.Better try either 2Min or 3Min TF
on paper.

2.& 3.Since all Candles are concentrated in TOP band ,it is signal of bullishness.But we
can not foresee such movements at the current moment.(All Charts are EOD charts)
All such problems are addressed in another thread BOLLINERWORM with another
set of bollinger bands.

 

[hmp]

Dear columbus sir
I am having confusion among 2 strategies 1-Bollinger strips,2-Bollinger worm.
Which system will give more accurate reasult?
Regards

 

[KRMANOJGUPTA]

B.band works well but i thick one should book profit at 0.5%or 0.75% favorable movement to trade specially when you are trading against the trend, say b.band expanded southward(downward) we get a buy signal here all m .average will work as resistant so when we price reach to 0.5 or .75% to profit side then price starts retracing & mostly not able to cross that resistant of ma, so profit skips from hand in intraday so i advice to book profit at 0.5 or 0.75% ,in case of against the trend,

 

[columbus]

Dear columbus sir
I am having confusion among 2 strategies 1-Bollinger strips,2-Bollinger worm.
Which system will give more accurate reasult?
Regards

Dear hmp,

Certainly BOLLINGERWORM gives better results than Bollinger Bands.
BW is based on BB, just to modify ,another set of Bolinger Bands is
introduced, but full credit should be given Bolinger for his original idea.

 

[columbus]

B.band works well but i thick one should book profit at 0.5%or 0.75% favorable movement to trade specially when you are trading against the trend, say b.band expanded southward(downward) we get a buy signal here all m .average will work as resistant so when we price reach to 0.5 or .75% to profit side then price starts retracing & mostly not able to cross that resistant of ma, so profit skips from hand in intraday so i advice to book profit at 0.5 or 0.75% ,in case of against the trend,

Bollinger Bands expand irrespective of the fact ,that ,market is moving UPWARDS/ DOWNWARDS. Though not clear in your post, I recommend 50% of profit at SMA-20
(middle line) and rest at the top/bottom of the band ,depending on direction of your
target.

 

[columbus]

Nifty upto 4.7.14.

 

[columbus]

UPTO 11..7.14

 

[hmp]

Dear Columbus sir can you pl. explain how to trade intraday & also positional by this system also what should be ideal time frame for both.

 

[columbus]

Columbus can you pl. explain how to trade intraday & also positional by this system also what should be ideal time frame for both.

Hi Hmp,

These chart is prepared using NIFTY with a timeframe DAY.
Instead taking NIFTY you take NIFTY FUTURE on a time frame 5Min.
The IDEAL time frame is disputable.On a CHOPPY day time frame of 3 MIN is ideal
but on a STRONG day 5 Min is ideal.So a time frame of 3min~5min is GOOD.

 

[hmp]

If i do trading as per following only red/blue bands as a guidence by keeping proper stop loss will it be profitable?
Regards