Bollinger Band - A master tool for intraday setups. I won't say I found it...
I don't know anyone has created such things before or not..
But as per my observation I tried to develop my own thing. I can't claim that it's 110% mine.. but still I just wanna share for the reason that if anyone can get benefited with such knowledge...
First of all I have used BB at it's std settings twice.
first bend is of deviation 2.0 and 2nd one is of deviation 3.0
used MACD at it's std. settings....
what I do is...
- Usually enters in long when price once break the 1st. lower band and moved up and crossed it again
- For short entry I use same things but with upper band...
- If prise moves against your position beyond 2nd bend pls. exit
(to keep SL safe you can use 2nd bend deviation 3.5 or 4. )
this is just for intraday basis.
If there is sign of divergence in macd and price U can carry on ur trade for nxt day but for safety U need to put tight SL.
I m juz adding this as I hope that I may get advise from the seniors of trederji.com.
Though this is not whole system... but I juz started back testing it.. and started to optimizing it. but still I guess there are alots of things which could be improved in this.
Waiting for seniors suggestions and advise.
:thumb:
I don't know anyone has created such things before or not..
But as per my observation I tried to develop my own thing. I can't claim that it's 110% mine.. but still I just wanna share for the reason that if anyone can get benefited with such knowledge...
First of all I have used BB at it's std settings twice.
first bend is of deviation 2.0 and 2nd one is of deviation 3.0
used MACD at it's std. settings....
what I do is...
- Usually enters in long when price once break the 1st. lower band and moved up and crossed it again
- For short entry I use same things but with upper band...
- If prise moves against your position beyond 2nd bend pls. exit
(to keep SL safe you can use 2nd bend deviation 3.5 or 4. )
this is just for intraday basis.
If there is sign of divergence in macd and price U can carry on ur trade for nxt day but for safety U need to put tight SL.
I m juz adding this as I hope that I may get advise from the seniors of trederji.com.
Though this is not whole system... but I juz started back testing it.. and started to optimizing it. but still I guess there are alots of things which could be improved in this.
Waiting for seniors suggestions and advise.
:thumb:
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