BollingerBands

[enrique]

I salute to you columbus sir for your beautiful and untiring effort.
I was spellbound as i went through this thread and another one named "bollingerworm".
this thread is continuosly active for so many years and going through it gives valuable insight to creating,developing and consistently following a system.

i know you use these methods for day trading on nifty but i was eager to ask few questions if i may,
1.which one is better in your view-BB or BW.
2.what are their pros and cons as you experienced in these years.
3.can you plz advise me as i use BB for swing trade ranging 1-4 weeks on shares

thanks again and keep up the good work sir.

 

[timepass]

 

[columbus]

I salute to you columbus sir for your beautiful and untiring effort.
I was spellbound as i went through this thread and another one named "bollingerworm".
this thread is continuosly active for so many years and going through it gives valuable insight to creating,developing and consistently following a system.

i know you use these methods for day trading on nifty but i was eager to ask few questions if i may,
1.which one is better in your view-BB or BW.
2.what are their pros and cons as you experienced in these years.
3.can you plz advise me as i use BB for swing trade ranging 1-4 weeks on shares

thanks again and keep up the good work sir.

Hi enrique,

Sorry for late reply.

Thanks.

BW is based on Bollinger Bands. Long back ,I started BB on 2 time frames.
The problems faced while making this thread ,made me to start another
thread BollingerWorm ,I addressed these problems after discussing with other
esteemed boarders.So definitely BW scores over BB.

I do not know your trading strategy, but BW is well suited for DAY TRADING
and BB(in present form) is suited for SWING/POSITIONAL TRADING.

 

[enrique]

thanks for reply sir!
Please allow me to put my system to you as i don't know anyone using BB and find rather difficult to get any advice or help.

I use BB(21,2.01)+RSI(13) on weekly charts trying to trade a clean upswing using these two methods
1.reversal-Buy above first higher high after lower BB stab and
2.squeeze-Buy above high of first green candle piercing upper BB .
For both methods i Exit when stoploss is hit.

I use daily charts to find important inflexion points and to manage trade.I try to rely more on analysis and use indicators to confirm only ,but give RSI divergences utmost priority. One problem i frequently face is that I move stoploss very fast and usually get thrown out for no reason and see share moving up without me.

Please advice me on this system.How can one analyse strength and weakness of swings to find better chances of upswing after downtrend?

 

[ankit3066]

Hello enrique ,

Even i am very keen to learn about Bollinger bands and i've started reading this thread page by page, though i could not keep in pace due to some reasons.

Really hats off to Columbus sir for starting the thread ...!!

 

[ankit3066]

@columbus - Sir you said that "Bollinger worm" gives better results than BB.

Have a few queries

1.You already mentioned BW can be used for intraday, but can it also be used for Swing trades ?

2.Also which is the ideal time frame for both. It would be very convincing of you could share the time frame you use for both swing and intraday

3.With bollinger worm, should we only stick to futures ? Can't we apply it to cash market ?

Thanks in advance

 

[columbus]

thanks for reply sir!
Please allow me to put my system to you as i don't know anyone using BB and find rather difficult to get any advice or help.

I use BB(21,2.01)+RSI(13) on weekly charts trying to trade a clean upswing using these two methods
1.reversal-Buy above first higher high after lower BB stab and
2.squeeze-Buy above high of first green candle piercing upper BB .
For both methods i Exit when stoploss is hit.

I use daily charts to find important inflexion points and to manage trade.I try to rely more on analysis and use indicators to confirm only ,but give RSI divergences utmost priority. One problem i frequently face is that I move stoploss very fast and usually get thrown out for no reason and see share moving up without me.

Please advice me on this system.How can one analyse strength and weakness of swings to find better chances of upswing after downtrend?

Hi enrique,

It is a good idea to trade ,with another INDICATOR apart from BB.
You can choose RSI,stochastics or MACD.(Another boarder "timepass"
uses ADX).Just choose one indicator only.

I will be happy if you put a GRAPH also.Now another question is asked.
Without merging or with merging ,the indicator.Once in another thread
I showed it ,what I mean with VOLUMES.(http://www.traderji.com/brokers-trading-platforms/89121-zerodha-part-3-a-150.html#post985964)

One problem i frequently face is that I move stoploss very fast and usually get thrown out for no reason and see share moving up without me.

In Trading it is common problem.After BUYING is over ,then place a SELL order at probable price (TOP of
the Bollinger Band). Never try it to catch the HIGH.Because it is better
to reach your target rather than seeing it to HIT stoploss.

 

[columbus]

@columbus - Sir you said that "Bollinger worm" gives better results than BB.

Have a few queries

1.You already mentioned BW can be used for intraday, but can it also be used for Swing trades ?

2.Also which is the ideal time frame for both. It would be very convincing of you could share the time frame you use for both swing and intraday

3.With bollinger worm, should we only stick to futures ? Can't we apply it to cash market ?

Thanks in advance

1.BW works very well for SWING trades also ,provided they are no BIG gap ups
or gap downs.Gap ups and gap downs are integral part of trading.Moreover
in case of SWING trade ,your are forced to borrow some samples from previous trading.Always it may not work.

2.We analyzed the trades on 2 time frames ,that is ,3MIN and 5MIN.
On 3min TF ,booking of profit ,early was observed.But on 5min TF, 70%~90%
times,the target was HIT. So any timeframe 3~5min is good.

3.I found it has been working well on FUTURES and OPTIONS.I do not see
why it won't with CASH.For that matter on any other instrument.(Though
I never tried).

 

[enrique]

Hello enrique ,

Even i am very keen to learn about Bollinger bands and i've started reading this thread page by page, though i could not keep in pace due to some reasons.

Really hats off to Columbus sir for starting the thread ...!!

nice to meet you ankit3066 ,
this thread and work by columbus sir is really wonderful.it took quite some time to skim through entire thread but trust me ,it was worth it!
BB is such a gr8 tool yet very few people use it.I tried alot of things earlier but BB is certainly the best.

 

[enrique]

thanks for reply sir!
I totally agree that only one indicator should be used with BB.I used to rely alot on MACD in past but now use BB+RSI only and it is really helpful and gives more clarity.
You are right that, "Because it is better to reach your target rather than seeing it to HIT stoploss."I will try to improve SL .
I will surely put graph of my next trade to better illustrate my working and again seek your advice sir.