BollingerWorm !!!

[columbus]

1.Use standard Bollinger Bands ,that is, bb(20,2).

2.Use ema2-HIGH and ema2-LOW to outline the body of the worm.

3.If the body comes out of bands & re-enters ,then make an ENTRY.

4.The EXIT is, if body comes out the other band and re-enters the body.

5.In case of extreme Bullishness/extreme Bearishness another
pair is used pertaining to BB(20,1) or just for guidance in normal case also.

6.If candles are sandwiched between OUTER of BB(20,1) and INNER band
BB(20,2) then ride the trend .

7.If either ema-2H or ema-2L is cut twice by either BB(20,2),BB(20,1) or
SMA-20 in quick succession ,it indicates a END of a trend.

8.Continuation is indicated if both ema-2H and ema-2L are cut by SMA-20
and/or BB(20,1) and/or BB(20,2).

 

[tinchu76]

Hi Columbus,

Whenever time permits pls advice?
Posting here trades of t/day.
Trade 1 was there but too early to take& moreover 5 mnts chart did not supported, hence did not take..
Trade 2 Is the one where I had issue to be discussed? Just guide me where should one place S/L as in case of this trade it just kissed my S/L and worm re entered the band for Trade 3. Some where you said to add in situation like this. But adding further to a losing position seems difficult.?

Took Trade 3 went nicely.

Regards

 

[columbus]

Hi Columbus,

Whenever time permits pls advice?
Posting here trades of t/day.
Trade 1 was there but too early to take& moreover 5 mnts chart did not supported, hence did not take..
Trade 2 Is the one where I had issue to be discussed? Just guide me where should one place S/L as in case of this trade it just kissed my S/L and worm re entered the band for Trade 3. Some where you said to add in situation like this. But adding further to a losing position seems difficult.?

Took Trade 3 went nicely.

Regards

Hi tinchu76,

Coming to your trades:
Trade.1:Based on emotions.You can see ,on opening it fell like anything but recovered later.Better avoid.Oneday you may profit,but not always.The better strategy to exit these trades quite often not bothering about brokerage.
Trade.2:Always using Trailing Stoploss of 15 points.
Trade.3:Good trade.

I could see 2 trades.
BUY: A (entry) to B (exit).
SELL: C(entry) to D (exit)
C to D ,the candles were more or less ,sandwiched between Lower Boundaries of BB-20 and BB-10.
Have a look at the candle E.It is inner Bollinger Band.Before that you exit your trade.Candle E is
a bullish candle.

Regarding ADDs,had you entered a bit before "A" (A candle is touching the
lower boundary),then "A" can be added (as ADD).

 

[tinchu76]

Columbus,

Many thanks for a prompt reply.

Appreciate for guiding another two trades. That’s the benefit of being in the guidance of an experienced trader.:clap:

H/ever enable to see image seems may be some issue :annoyed:at my end.

Request u to kindly upload once again or to some other site and give link here.

Regards

 

[columbus]

1.Use standard Bollinger Bands ,that is, bb(20,2).

2.Use ema2-HIGH and ema2-LOW to outline the body of the worm.

3.If the body comes out of bands & re-enters ,then make an ENTRY.

4.The EXIT is, if body comes out the other band and re-enters the body.

5.In case of extreme Bullishness/extreme Bearishness another
pair is used pertaining to BB(20,1) or just for guidance in normal case also.

6.If candles are sandwiched between OUTER of BB(20,1) and INNER band
BB(20,2) then ride the trend .

7.If either ema-2H or ema-2L is cut twice by either BB(20,2),BB(20,1) or
SMA-20 in quick succession ,it indicates a END of a trend.

8.Continuation is indicated if both ema-2H and ema-2L are cut by SMA-20
and/or BB(20,1) and/or BB(20,2).

 

[columbus]

Columbus,

Many thanks for a prompt reply.

Appreciate for guiding another two trades. That’s the benefit of being in the guidance of an experienced trader.:clap:

H/ever enable to see image seems may be some issue :annoyed:at my end.

Request u to kindly upload once again or to some other site and give link here.

Regards

tinchu76,

Sorry for that.You can the small figure,without any problem.

Here the link.
http://i39.tinypic.com/xah6w.jpg

 

[tinchu76]

Thanks again.

A picture is worth a 1000 words.

 

[columbus]

1.Use standard Bollinger Bands ,that is, bb(20,2).

2.Use ema2-HIGH and ema2-LOW to outline the body of the worm.

3.If the body comes out of bands & re-enters ,then make an ENTRY.

4.The EXIT is, if body comes out the other band and re-enters the body.

5.In case of extreme Bullishness/extreme Bearishness another
pair is used pertaining to BB(20,1) or just for guidance in normal case also.

6.If candles are sandwiched between OUTER of BB(20,1) and INNER band
BB(20,2) then ride the trend .

7.If either ema-2H or ema-2L is cut twice by either BB(20,2),BB(20,1) or
SMA-20 in quick succession ,it indicates a END of a trend.

8.Continuation is indicated if both ema-2H and ema-2L are cut by SMA-20
and/or BB(20,1) and/or BB(20,2).

 

[trade4joisar]

Seems today more concentration on Reliance

 

[columbus]

Seems today more concentration on Reliance

Sorry, I have not noticed.Actually my LAYOUT of Bollingerworm is on Reliance
with 3min TF ,I will change Reliance to NIFTY and 3min to 5MIN ,everyday, to
post it here.But I did not change the scrip.