i havent tried on OTC. you need something that has good movements during the day but extremely strong movements.
Lingsbord Strategy Works - 2.5BB Deviations
Posted 16 July 2019 - 12:44 PM
Posted 17 July 2019 - 03:12 AM
I have been trading only EURUSD, and i dont monitor the other pairs. Should be at your own risk though.
For me 3-4 trades are more than enough to meet the daily target.
Monday mornings or friday evenings can be different for different weeks. For e.g., one week you will have all OTMs at such times whilst the others you will have all ITMs or a mix of it. Hence the money management comes in play as this strategy is not a 85% and above winning one. I had a decent day yesterday as well as there were a few strong movements but I recovered back due to the money management.
If you want to monitor multiple pairs, you might as well use BB Deviation 3 which has better accuracy than 2.5. Read Tradesmart thread.
All in All, Every strategy needs (i) Caution (2) market awareness (3) Effective money management (not risking more than 2-5 % of your capital)
Posted 18 July 2019 - 08:38 AM
So Three trades for me today, done with my daily target.
No News or major event, big burst outside BB.
Big burst outside BB 3, but i was watching the candle. It burst right through BB 3, then pulled back completely and then again kept dancing around.
Was a clear signal to avoid the trade and this was in between two news events.
The last one where i have marked as 'X' is during the US market opening (outside the recommended hours). The two bursts were ITMs for me.
- elchanan93 likes this
Posted 19 July 2019 - 05:11 AM
Elchanan93 - I did not take the trade in the second picture. I am targetting a 2-5% profit on my 1000$ account.
BB3 is a more reliable strat but very few entries in a day. It should work on 5 min timeframe but you may or may not have even one entry for a day. That's the volume of BB3.
When i read tradesmart thread, there were guys monitoring around 8-10 pairs for 10 hours and were getting 6-7 entries excluding news events. Thats a lot of screen watching time for me atleast.
Posted 02 August 2019 - 11:43 AM
Mohanjackie, i have been trading this quite successfully. Did not have the time last two weeks due to busy schedule in office.
Today was the NFP, which causes massive movements in EURUSD, and if you look at the charts, there was a clear HIT. So i avoid such days in trading.
Posted 03 September 2019 - 08:30 AM
i have been using this strategy effectively and successfully for the last 3 months in live scenarios..you have to stick to the rules, avoiding news time etc.
any type of trading will kill you if you dont stick to the rules, whether forex, stocks, derivatives.
Posted 09 September 2019 - 06:07 AM
I used to talk to lingsbord back in the day and after lots of testing and calculations, everyone realised that this is not a long term profitable or reliable strategy. It works for a while but the hits seem to come in clusters, plus human error on top of that. You can wipe out weeks or months of profit in a few days, which is no way to run a business. I'm not saying to give up, i'm just sharing our experience of it. You may be able to tweak things.
To be constructive, Maybe try this:
Here's a template that might help limit the hits you get, or it may not - just give it a test.
There's one of my indicators included that simply shows a hyper-extended candle relative to the candles before it - nothing fancy, but if you only take entries when there is a green arrow (hyper-extension) plus a pink dot (BB2.5 Breakout), it may let you only enter when price is over stretched and filter out some of the high momentum price moves.
I'd also recommend 5 min expiry too, based on the logic of entering at hyper-extension.
SvalbardHE.ex4 (correct settings will load on template)
If you decide to test it, let me know how it goes.
Hi to all,
Is it possible to have this indicator HF_BB.ex4 with alert on off that works well ?
Because even by putting the alerts on off, the alert comes anyway.
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