FREE FOREX STRATEGIES

Complex trading system #9-a (H4 Bollinger Band Deviation)


In this strategy I will add some advanced techniques to the last strategy "Bollinger Bands deviation strategy Part I".

So first of all I will open the EUR/USD chart, then I will open the 4 hours time frame and I will add the Bollinger Band (20) and Zig Zag indicators. As we saw in the previous video, the entry point was the closing candle which corresponds to the bollinger bands deviation angle, this angle was defined by dropping a line from the lower ZigZag for short trades and from the upper Zig Zag for long trades.

Today I will make this strategy more accurate, I will not wait the H4 to finish the candle to enter into a long trade, what I will do is the following: I will spot a deviation in the bollinger band of the H4 chart and open the corresponding 1 hour chart, as soon as I see a bollinger band deviation I will enter a trade when the 1 hour candle is finished, by this way I entered a trade much sooner then the H4 chart which gave me more pips in advance.

Concerning the exit point. The exit point is defined by the H4 chart, we simply wait the H4 breakLine to be intersected with the H4 bollinger Band to exit the trade which gives us a maximum number of pips. So we used the H4 chart and the H1 chart in combination to harvest the maximum profit.

You can view the video of this strategy at:
http://www.rpchost.com/Forex-Videos.aspx?head=Rpchost.com%20-%20Bollinge...


Joe Chalhoub
http://www.rpchost.com/

Edward Revy,
http://forex-strategies-revealed.com/

Copyright © Forex Strategies Revealed

This looks like its based on nonsense. No offense. Just trying to be truthful.

Quite a while has elapsed between all of the above posts, however, I did have time to trial this so here goes... the results might surprise you!

Have a look at the screen capture here:

For the trial, I took a random currency pair and a random period then applied Joe's original method without maximizing profits and changing to H1.

There were 4 trigger setups, 2 sell and 2 buy over the 1 month trial period of 3rd Dec - 6 Jan. (Slightly over the month because trade was still active)

All were profitable and returned 712 pips at a risk of 150 pips and therefore a RR of 4.76

If you would like to discuss more or need assistance with how to draw the lines, please contact me at [email protected]

Rgds
RM

Hi,

To be honest, I've been returning to your question for several times, but same as months ago, today I am not ready to dive into researching about the methods used by Joe. Initially, same as you, I don't know how the lines should be drawn.

We even have a video presentation from the author, so if you can pick up the idea - good, but if not - not a problem, I think. I watched the video for a few times, but still, I'm not sure I can explain the rules the way Joe trades it.

Best regards,
Edward

Hi Edward,
Pls can you explain how to draw the line that shows the bollinger band deviation.i dont think this video explains that in a simple manner.In fact,i'll appreciate if u can break down this strategy in a simpler way.
Thanks

Thanks for this. Will have to check it out!


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