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@  traderpusa : (17 January 2019 - 06:51 PM) Good morning
@  darkhorse : (17 January 2019 - 04:28 PM) who can you open up an account with in the UK now that this ban is currently in place? any recommendations?
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@  ishan007 : (17 January 2019 - 08:39 AM) :D :D
@  traderpusa : (17 January 2019 - 08:37 AM) yeah, it's just a habit. unlearn bins, unlearn candles, learn again lol
@  ishan007 : (17 January 2019 - 08:33 AM) yup traderpusa u r correct bro but i am just used to see candles for last 1 year so i am just finding little complicated anyway its just matter of time before i get used to bar chart too
@  venkatredy : (17 January 2019 - 04:15 AM) hi traderpusa
@  traderpusa : (16 January 2019 - 08:49 PM) hi andreyt
@  andreyt : (16 January 2019 - 08:43 PM) good mornin @traderpusa
@  andreyt : (16 January 2019 - 08:43 PM) ayrex or finmax
@  gelsas : (16 January 2019 - 08:17 PM) Where can I trade bo as european nowadays`
@  traderpusa : (16 January 2019 - 07:28 PM) Good morning
@  traderpusa : (16 January 2019 - 08:49 AM) bar chart is the least distracting chart imo that allows you best to see the levels.
@  traderpusa : (16 January 2019 - 08:48 AM) you never hear me talk about a candle formation, cause when i change TF, poof ! the formation is gone.
@  traderpusa : (16 January 2019 - 08:48 AM) as time is of little importance in Larry because we draw levels from highest to lowest TF, candles are of no importance at all
@  traderpusa : (16 January 2019 - 08:47 AM) only high and low, and even then, only when it is a price reversal.
@  traderpusa : (16 January 2019 - 08:46 AM) why you need candlesticks ? open and close of a candle have no meaning

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Bollinger bands 5minute strategy


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171 replies to this topic

#1 mararakudzai

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Posted 07 July 2016 - 02:07 PM

Here goes bollinger band setting on metatrader 4 is 20:2 time frame is 1minute on Eur/Usd.for Put u wait for breach and close of bullish candle or candles above upper bband. Then wait for bearish candle that CLEARLY opens and closes above the bband.Just before this candle closes take a 5minute Put trade. Do the same for Call wait for breach of lower bband with bearish candle or candles to close below lower bband then wait for bullish candle to CLEARLY open n close below the lower bband. Just before this candle closes take a 5minute Call trade. For this please use meta trader 4 to look for the trade setup but execute the trade on iqoptions or on your mt4 platform. Do not backtest using iqoptions but use meta trader 4 to back test
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#2 mararakudzai

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Posted 07 July 2016 - 02:11 PM

ITM.Note avoid trade if the trigger candle is a doji or pinbar or
even though the candle opens and closes outside the bollinger band but has
its wicks cutting the bollinger band.
You may still take the trade and win in the above conditions but I have observed that it sometimes or mostly will be OTM

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#3 mararakudzai

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Posted 07 July 2016 - 02:12 PM

ITM

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#4 FAT STAX

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Posted 20 July 2016 - 11:09 AM

Thank You for sharing this strategy.  I just started using it and am quite pleased with the results so far.  I noticed it works just as well on other currency pairs besides EUR/USD.  Here is an absolute beauty of an itm trade I just took on GBP/JPY.  I would love to have an indicator that gives a pop-up and sound alert once the necessary criteria are met.  If anyone out there is skilled and kind enough to code then share such an indicator, I am fairly certain we will all be pleased :)

 

51pkSxH.png



#5 FAT STAX

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Posted 20 July 2016 - 11:27 AM

Here is another absolutely perfect set up.  This one for an AUD/USD put.  I unfortunately missed this one because I was working on my previous post, which highlights the importance of having an indicator with alerts.  I have been searching years for a five minute expiry strategy/indicator that is both simple and highly effective.  Additionally, I want to trade high probability set ups that occur at least several times a day per currency pair.  It is too early to tell if this is it but I definitely like what I see so far :)

 

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#6 FAT STAX

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Posted 20 July 2016 - 11:35 AM

Here is another itm set up.  This one for an AUD/NZD put that I again missed because I was composing my previous post.

 

yQzn9uB.png



#7 FAT STAX

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Posted 20 July 2016 - 01:03 PM

I am a huge believer in full transparency.  In this forum, in my view that means if you are going to post screenshots of your trades, share both your losing and winning trades.  In that spirit, here is an otm trade I took about a half hour ago.

 

lZG6CvQ.png



#8 FAT STAX

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Posted 20 July 2016 - 01:16 PM

Another otm.  I did not trade this one (no reason other than I missed it).

 

DHEOaQd.png



#9 FAT STAX

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Posted 20 July 2016 - 01:20 PM

ITM I did trade.

 

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#10 neddihrehat

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Posted 20 July 2016 - 01:24 PM

Another otm.  I did not trade this one (no reason other than I missed it).

 

DHEOaQd.png

The OP said,

"Note avoid trade if the trigger candle is a doji or pinbar or even though the candle opens and closes outside the bollinger band but has its wicks cutting the bollinger band."


Click the LIKE button or the REPORT button, don't just sit there.

#11 FAT STAX

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Posted 20 July 2016 - 01:32 PM

The OP said,

"Note avoid trade if the trigger candle is a doji or pinbar or even though the candle opens and closes outside the bollinger band but has its wicks cutting the bollinger band."

 

Thanks for the reminder :)



#12 FAT STAX

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Posted 20 July 2016 - 03:34 PM

Another itm trade I just took.  Please note this technically does not the meet the condition of the trigger candle both opening and closing outside the bollinger band.  However, when I placed the trade the candle was clearly outside the band with just several seconds remaining before it closed.  We all know how critical timing is when trading short expiry options, so barring an indicator with alerts, if you want to time your trades just right this will happen from time to time.

 

V47b5db.png



#13 FAT STAX

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Posted 20 July 2016 - 03:53 PM

Another itm.  Please note, as astutely pointed out by neddihrehat, this violates the rule which states the trigger candle cannot be a doji or pin bar.  I took this trade anyway because I have seen today that more often than not such set ups still end up itm.  Please also note by taking this trade I experimented/freelanced and if you want to strictly follow the rules you would avoid this trade.

 

DgQNZXl.png

 

 



#14 FAT STAX

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Posted 20 July 2016 - 04:17 PM

2 more itm trades I took earlier today but did not post after neddihrehat reminded me these setups violate the rules which state the trigger candle cannot be a doji, pin bar, and its wick cannot cut through the band.  So far my risk reward ratio in ignoring that rule has been favorable but it is worth repeating what I said in my previous post that I am experimenting/freelancing and sharing my experience.  As we all do with our own strategy, we incorporate whatever aspects we feel work best for us. 

 

gaud8vl.png


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#15 tradesmart

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Posted 20 July 2016 - 04:25 PM

2 more itm trades I took earlier today but did not post after neddihrehat reminded me these setups violate the rules which state the trigger candle cannot be a doji, pin bar, and its wick cannot cut through the band.  So far my risk reward ratio in ignoring that rule has been favorable but it is worth repeating what I said in my previous post that I am experimenting/freelancing and sharing my experience.  As we all do with our own strategy, we incorporate whatever aspects we feel work best for us. 
 
gaud8vl.png


Looks like you have had a good day with this

#16 tradesmart

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Posted 20 July 2016 - 04:43 PM

Attached File  Screenshot_2016-07-20-22-38-40.png   164.88KB   7 downloadsAttached File  Screenshot_2016-07-20-22-34-28.png   167.36KB   5 downloadsAttached File  Screenshot_2016-07-20-22-34-15.png   168KB   3 downloadsAttached File  Screenshot_2016-07-20-22-33-39.png   166.8KB   2 downloads


I like these setups , when price goes outside the bb and then next candle is a pin bar, 5 min expiry. I think it's better to look for setups when the pin bar is also outside the bb....but still even when it's not it still looks quite nice
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#17 FAT STAX

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Posted 20 July 2016 - 05:15 PM

Looks like you have had a good day with this

 

1 otm and 8 itm today which is a 88% hit rate so yes Thank You I am very pleased with this strategy.  I know one day does not a trend make but regardless, it is clear to me that at a minimum this strategy has serious potential.  This is not directed at you but the whole boe community, it is worth repeating that an indicator with alerts for this will be very helpful because you can go several hours without any set ups then get a bunch within a few minutes.


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#18 mararakudzai

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Posted 21 July 2016 - 01:39 AM

Thank you Fax Stax I am glad u tried the strategy
To improve It I forgot to mention that if the
trigger candle the one that you place trade just b4 it closes, if this candle is a pinbar or doji then dont take the trade.Also if the wick of this candle touches the bollinger band even if the body of the candle does not touch the bollinger band I usually do not take the trade but sometimes it turns out to have been ITM

#19 mararakudzai

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Posted 21 July 2016 - 01:41 AM

Sorry my post was directed to Tradesmart not At Stax

#20 mararakudzai

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Posted 21 July 2016 - 01:42 AM

Lol I meant it wasdirected to Tradesmart and Fat Stax
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