Scalping system #14 (EURUSD scalping with Bollinger Bands)

Hi,
I have been using this strategy with Oanda 30sec chart - no luck yet!
The first posts say TP 3 pips so what stop loss do i use for that??
Do you need to go with the trend?
I now realise its best on ranging market or it just keeps following bb up or down
Which time in GMT is best to use it?

Regards
Phil.

Hi,
Regarding tight spreads - use it with ECN brokers, who offer very tight spreads. Follow the rules and you will get your 5-10 pips (50-100p for 5digit pricings).
Regarding 4 digit broker - I have found one which offers 1pip spread for eurusd currency pair and it also works very well.
T.

Hi,

I´m from Germany (sorry for my english) and I´ve tested the strategy about 3 months.
In my opinion the trader is the highest risk of the system. To get a good signal the price should burst the yellow BB horizontally!!! If the BB open you can forget the trade because the risk is to high. Now the problem is that the trader looks at the price. He thinks he is seeing a signal but he overlooks that the BB opens. That´s the way for many loss trades, also by me!

I think the best way would be if a EA would trade but I think that this strategy isn´t automatable very easily. In my opinion something is absent in this strategy but I don´t know which indicator it could be?!

Yes, though it's more useful when currency is trading in a range during the active trading hours session.

Thomas

So this method is more suited for the quiet times of the day?

Nice System but strong trend phases not reliable to use, since it fails because it provides many false signals. The risk loss trades is strong up-selling and downtrends is far too high. As already described for the quiet phases to the scalping.

Yes, why not.

Hi, am Ruky from Nigeria i use fxopen broker platform are these technique applicable to that plat form also.

I try out the strategy and put the Momentum-Indikator to the Chart. I think with this Indikator you can find good entries because you can see when the Up- or Downmove is over. During the next days, I will test it...

As this is great strategy,someone of you who questioned about the BB that the price is sometimes slipping or climbing along the BB, didn't got a proper answer till now I must admit, so I made some adjustments to this strategy:
BB blue (50,dev 4)
BB red (50,dev 5)
why this???
Simply because now it confirms Hessel's half way moving between yellow and blue BB. If the candle touches the red BB that is the final positive alarm to get into trading. Usually when it reaches or penetrates the blue line, than I get into trade, that can be a bit of waiting, but it can prove 20-30 pips a day plus spread (by a few trades) for now. The more riskier is offcourse when it penetrates the yellow line. Then you have chances to get 30-40 pips a day plus spread. This strategy as every other must be backed up with the candlesticks knowledge and the price patterns knowledge. Then you may add few % more of affirmation of this strategy.

Ognen

What ever happened to Hessel? I wonder if this strategy is still some good. It looks like a great scalping strategy though.

This is a brilliant strategy. I used it on gbpusd, absolutely amazing.I have tried many strategies and system but this is the only strategies with which I have made money from the word go.

This is the ideal strategy during off hours. From 3pm-3am, this strategy is a goldmine. Do be aware of news announcements though, other than that, this is a great fn strategy. 3pm-8pm, 1Ms are good, from 8pm-3am, 5Ms are awesome. I go for the gusto on 5Ms.

In MT4 you have Stochastic, which can be set (in properties window) to Simple, Exponenetial, Smoothed or Weighted.

Use "Simple stochastic" - default settings - to get the same readings as Full Stochastic.

hi im a bit new to forex and am really interested in this system. i use metatrader4 and it only has a stochastic!!!! does anyone know if its a slow fast or full stochastic? thx