YM Traders

This morning I tried to make it a permanent place, but it doesn't accept my click. I assume one need Moderator privilage to do that...

 

I am going to post it again, because there was one more valid entry. So obviously on this chart 1., 3. and 5. are sell signals and 2. and 4. are buy signals.

Let's count the YM gained points using these signals, and I am counting it fairly loosely, including slipage:

30+30+20+50+30= 160 points with 5 trades, on a sideways day

Nice relaxed swingtrades, following the flow of the waves during the day. Beautiful!

 

volente..........I will ask.........

 

bollingers work decently on chop or range days, but you get a trend day like last Friday and you are screwed.

 

porgie, rule of 2 almost works better than rule of 20.

 

gap up
W day short bias
and a 10:30 reversal

What more can you ask for ?

 

without question Bollinger Bands are one of the greatest tools for initiating and exiting trades. Like you said, great on range days but bad on trend days. Combining the Bollingers with MACD and RSI would have kept people from trying to reverse on Fri. The three in combo are very strong.

 

I like BB but they are mainly good when the market is volatile and trending, in chop they will get so constricted that all they will indicate is that it will break one way.

Anyone care to post a chart from last friday with those 3 indicators ?

 

Best things in life are free, like sex. Anyway, here is the free chart from Bigcharts.com.

You will notice, that the first sell signal was a bit early, and the market went like 10 points against it, but there was a confirmation second signal. That was rewarded by a nice 50 points drop and again another buy signal with a 40 points rebounce. That was very quick so there was signifficant slipage, but still...

Now on my Ameritrade 10 min chart it gave a sell signal where I put a questionmark here giving another 30 points drop. The moral is that one should use more than just one charts.

But still, as free charts go, this is one helluva indicator.

Right now we have another buy signal....

 

Here is Friday's chart with MACD, RSI and Stoch, but I don't see how that would have helped.

Users of Bollinger just have to accept the fact that it doesn't work in a trending market....