Trading With CrossOver And BB

[prasadam]

Looks Like Bearish CrossOver Again. Multiple CrossOver Happening, I Know You Don't Use BB. But We Are Now In Contracted Zone Of BB Where Price Range Is Very Tight, That Is Why Prone To Multiple CrossOvers And Eventually BreakOut On Either Side. Let Me See How You Deal With Them...

Thanks.

hi doc.

not that I will not use BB. I use it only for, what saint sir calls ambush trades.
i.e., use the piercing of BB for a quick 5-10 point gain, with in few minutes.
however, to be frank I used this setup only 3 or 4 times in the past month.

I got confirmation of this type of trades from the posts of Ash.paul, savant ji and columbus in " BollingerBands" thread.

http://www.traderji.com/day-trading/27421-bollingerbands-post301838.html#post301838

 

[prasadam]

Doc.

another thing, if you are using BB, combine it with average line also.
i.e., if you are using BB 9,2 then use also 9 sma and if using BB 20,2, then use 20 sma as stoploss.


savant ji, your comments please.

 

[docvijay4u]

Do You Use Average Line For Current Trading Sessions?

Thanks.

Doc.

another thing, if you are using BB, combine it with average line also.
i.e., if you are using BB 9,2 then use also 9 sma and if using BB 20,2, then use 20 sma as stoploss.


savant ji, your comments please.

 

[prasadam]

doc.

see the chart.

1.30 -1.45 bar, pierced upper band and came down upto 9sma,
1.45-2.00 bar, started above 9 sma touched it, and gone upto BB.

these kind of moves give you small profits, but you have to be on your toes.

 

[docvijay4u]

Ok, You Are Talking About Milking Out Of Contracting BB Isn't It?
Wow!!! I Think We Have Positive BreakOut On Current Bar. Next Bar Should Confirm It.

Thanks.

doc.

see the chart.

1.30 -1.45 bar, pierced upper band and came down upto 9sma,
1.45-2.00 bar, started above 9 sma touched it, and gone upto BB.

these kind of moves give you small profits, but you have to be on your toes.

 

[docvijay4u]

2.45-3.00 Bar Was Really Killing, Telling Why Rules Are Important.
I Guess Profit Booking Around 3321-3325 On 3.15-3.30 Bar. But I SEE You Might Be Booking Extra 10.

Thanks.

 

[prasadam]

sold at 3426

profit 65 (3426-3361).

profit for the day 23 points (65-42)

 

[prasadam]

Looks Like Bearish CrossOver Again. Multiple CrossOver Happening, I Know You Don't Use BB. But We Are Now In Contracted Zone Of BB Where Price Range Is Very Tight, That Is Why Prone To Multiple CrossOvers And Eventually BreakOut On Either Side. Let Me See How You Deal With Them...

Thanks.

cheers.

:clapping::clapping::clapping:

 

[SavantGarde]

Congratulations ! Prasad,

Doc I Hope You Enjoyed The Trades Of Prasad, Best Part About The System, Is That Traders Who Have An Inherent Fear Of Going Short, Will Overcome The Fear & Will Be Equally Comfortable Playing Both Sides Of The Fence.

Great Trades Prasad, Prasad Look For The Post About A Candlestick Pattern Which Doc Has Posted, You Can Add That To Your Arsenal, Moreover It Works With The Crossover System With Double Confirmation If The Crossover Is Not Clear.

Happy & Safer Trading

SavantGarde

 

[docvijay4u]

Good Trade Prasadam. It's Really A Wonderful Experience To Following You Along. I Would Be Stopping After First Trade But The Way You Closed Second Trade Is Excellent. That Is Very Helpful For Me To OverComing Loosing Mentality.

What I Learned Today Is Staying With Rules Is VERY VERY Important. Thanks For Giving Opportunity To Live Discussions.

Thanks.

sold at 3426

profit 65 (3426-3361).

profit for the day 23 points (65-42)