BollingerBands

[annu]

http://www.traderji.com/beginners-guide/39632-come-into-traders-den-9.html

thank you sir for giving me moral support. few words are enough for encouragement .

as i write earlier , starting with very simple thing . from last week start paper trading on breakout strategy of banlab bhai. and reading some books. focus on three book first "technical analysis and stock market profits" then will read "reading price chart bar by bar" and after that "japanese candlestick charting". just read a book disciplined trader well explained about fear and greed and now realizing what mistake i was doing earlier. but the chapter about price action was difficult so will read that chapter again two - three times to better understanding . and for trading management will read from trading game. so now my time table is 9:00 to 3:30 for live price action and 4:00 to 10:00 for studies.

regards

annu

 

[columbus]

http://www.traderji.com/beginners-guide/39632-come-into-traders-den-9.html

thank you sir for giving me moral support. few words are enough for encouragement .

as i write earlier , starting with very simple thing . from last week start paper trading on breakout strategy of banlab bhai. and reading some books. focus on three book first "technical analysis and stock market profits" then will read "reading price chart bar by bar" and after that "japanese candlestick charting". just read a book disciplined trader well explained about fear and greed and now realizing what mistake i was doing earlier. but the chapter about price action was difficult so will read that chapter again two - three times to better understanding . and for trading management will read from trading game. so now my time table is 9:00 to 3:30 for live price action and 4:00 to 10:00 for studies.

regards

annu

Annu,

I will write a detailed post in "Come into the Trader's Den" ,most probably
tonight or week-end when I am relatively free.

Perhaps ,your low capital is a major concern because Low Capital means
you have to be 100% accurate ,which is a bit difficult.

See this Thread, you will find it very SIMPLE yet Powerful.My ambition
is even if it helps 1% people then I will a satisfied man.My interest is in
Nifty Futures.

 

[saivenkat]

Annu,

I will write a detailed post in "Come into the Trader's Den" ,most probably
tonight or week-end when I am relatively free.

Perhaps ,your low capital is a major concern because Low Capital means
you have to be 100% accurate ,which is a bit difficult.

See this Thread, you will find it very SIMPLE yet Powerful.My ambition
is even if it helps 1% people then I will a satisfied man.My interest is in
Nifty Futures.

Columbus bhai, Your noble cause for helping people, to learn by teaching the basics, i really appreciable. Like, annu, I am of the person, who try to be as accurate as possible.

I am going through all your posts here, Soon i will be also start doing online trading, may be in one or two months later, after some construction work in my house is finished. The thing is, i prefer to adopt your bollinger band strategy, for my daily trades. Hence on, i may be asking you, some silly elementary questions about the trading strategy from now on.. I hope you will help me in this.

Regards
Saivenkat

 

[columbus]

Columbus bhai, Your noble cause for helping people, to learn by teaching the basics, i really appreciable. Like, annu, I am of the person, who try to be as accurate as possible.

I am going through all your posts here, Soon i will be also start doing online trading, may be in one or two months later, after some construction work in my house is finished. The thing is, i prefer to adopt your bollinger band strategy, for my daily trades. Hence on, i may be asking you, some silly elementary questions about the trading strategy from now on.. I hope you will help me in this.

Regards
Saivenkat

Hi SaiVenkat,

You are always welcome.
As I already mentioned, the doubts/queries expressed by members
always make the system ROBUST.

 

[columbus]

BB(20,2) of nifty futures on time frame 4/6 min are presented below.

Choppy Market:

Go long when Red+Green candles pierce the bottom band and wait for 15minutes
for confirmation after taking position, otherwise come out with stoploss.
Go short when Green+Red candles pierce the top band and wait for 15minutes
for confirmation after taking position , otherwise come out with stoploss.

Strong Market:

If the candles are concentrated in Top band go Long.
If the candles are concentrated in Bottom band go Short.
The Proximity of candles with respect to Outer boundaries indicates the Strength.
More strength means more closer to Outer boundaries.

 

[columbus]

Nifty chart of last 6 months.EOD=9.4.10

Wicks are chopped off for more clarity.

 

[columbus]

BB(20,2) of nifty futures on time frame 4/6 min are presented below.

Choppy Market:

Go long when Red+Green candles pierce the bottom band and wait for 15minutes
for confirmation after taking position, otherwise come out with stoploss.
Go short when Green+Red candles pierce the top band and wait for 15minutes
for confirmation after taking position , otherwise come out with stoploss.

Strong Market:

If the candles are concentrated in Top band go Long.
If the candles are concentrated in Bottom band go Short.
The Proximity of candles with respect to Outer boundaries indicates the Strength.
More strength means more closer to Outer boundaries.

 

[columbus]

Today's chart resembles 7th Apr chart barring for early part.

 

[veluri1967]

BB(20,2) of nifty futures on time frame 4/6 min are presented below.

Choppy Market:

Go long when Red+Green candles pierce the bottom band and wait for 15minutes
for confirmation after taking position, otherwise come out with stoploss.
Go short when Green+Red candles pierce the top band and wait for 15minutes
for confirmation after taking position , otherwise come out with stoploss.

Strong Market:

If the candles are concentrated in Top band go Long.
If the candles are concentrated in Bottom band go Short.
The Proximity of candles with respect to Outer boundaries indicates the Strength.
More strength means more closer to Outer boundaries.

Columbus,

Whenever I think of BB, I always remember your ever green thread. I feel there should't be a better place than this thread to fire my doubts/apprehensions on BB.

How to tackle the following situations.

1.Suppose I took buy position after RED + GREEN candles piercing bottom BB.
Obviously I took position at the high of Green Candle. I suppose to wait for next 15 min for price action. Price hit my stop loss which is placed below the low of Green candle. Again, the price takes upward move with 15 min and closed above Green candle.

Is there any filter to combat such situations or just think it is our bad luck.

2. Price grazing the BB either Bottom or TOP. Suppose there is a piercing of Green + Red cancled top BB. As per rule, we should short. Let us for clarity sake, think we shorted. I have waited for next 15 min. This bar is Green but not as high as earlier one and also not as low as earlier one. That means continuously next few bars are inside bars of First Green bar. The price is not moving any where. Neither it is hitting stop loss nor going down. Is it better to close the position even if it has not hit SL to switch to a better opportunity.

3. Piercing of bars means main body or even whics? What I observed is that even whics satisfied the condition of entering into trade. Or do you have any contrary suggestion?

 

[Raghavacc]

Below is the ICICIBank daily chart.For me its a low risk ,potentially high reward opportunity.

All direct towards possible heavy correction.Erosion is more likely than sideways.We should get a clue by next week itself.

Double top,RSI Negative Divergence, Facing resistance at previous high,Upper BB piercing the upper tails of last green and red candle.

Regards
Raghav

ICICI didnt disappoint.

One more seems to be in the coming

Regards
Raghav