Bollinger Bore

[welshwarrior]

Hi Everyone,

I have recently switched from a pulsating screen of indicators to the absolute basics, as I was beginning to lose sight of the market. I have had staggeringly good fortune in the last month trading with just double top and bottom formations in combination with Bollinger support at the deafult 20/2 setting. On EURUSD it is uncannily good at signalling a reversal on the second top/bottom touching the band (on that criteria generating a couple of opportunities a day on the 5 min chart). I would be very interested to hear what other settings and timeframes people have had success with. I won't be posting my results - I am not as brave as others on the forums!

As I write EURUSD is nicely sat at 1.1585 - watch for the breakout at 7am!!

 

[boy]

The bolly bands are narrowing - man the life boats!

 

[Healey]

Scuse my ignorance but what do you mean by "Bollinger set on default 20/2 setting" ??

 

[Trader333]

Healey,

Check this link which shows Bollinger bands on the GBP/USD and the settings they are at.


http://www.futuresource.com/charts/...2=&STUDY3=&bardensity=LOW&size=SMALL&x=39&y=6


Paul

 

[FTSE Beater]

Hi Healey

Welcome to T2W

The 20/2 setting is the default setting for most charting packages. It uses a 20 period moving average with a 2 standard deviation to create the 3 lines. A moving average, an upper band and a lower band

HTH

 

[neil]

Forex trading - some tips

I found this article whilst surfing about

http://www.futuresmag.com/forextrader/forextrader.html

Might be of interest to those looking at forex trading

And the source of the above article is:

http://www.elitetrader.com/vb/showthread.php?s=&threadid=18902&perpage=6&pagenumber=31

Enjoy

 

[Healey]

Many thanks, kind Sirs ! As a beginner, all help is invaluable.

I have found a real gold mine of information on indicators in equis.com/Education/TAAZ. Each of about 100 indicators and concepts are explained in a very readable way.

But I still have unanswered questions which perhaps someone could help with :

1. Where can I find FOREX charts with good indicator functionality for free ? Unless I am missing a trick, BIGCHARTS only seems to do stocks ?

2. Do any of the free services offer on-line realtime updates ?

3. What brokers do you guys use for FOREX trading? Is there anything different one should look for out of a FOREX broker compared to equities / CFDs / spread betting ?

Many thanks in anticipation.

 

[boy]

Healy,

Try this site for free r/time fx demo trading and charts.

www.oanda.com

 

[neil]

UK Sterling Mini Accounts

Here is a UK based office of FXCM who offer MINI ACCOUNTS based in pounds sterling.


http://www.fxcm.co.uk/ai_d.html



Also charts:



http://quote2.fxtrek.com/misc/fxcm2.asp