benny3 Posted August 30, 2010 Author Report Share Posted August 30, 2010 (edited) Opened 4 trades today I know i said I only open 1 trade at a time but i'm starting to get confident at this technique and i'm starting to get alittle aggressive here are some pics. 1st http://i33.tinypic.com/2qlcxw3.jpg an update http://i35.tinypic.com/2wlyhc7.jpg took full position, i got abit scared due to mini support and also pinbar off the center bb.. Took about 70 pips though http://i35.tinypic.com/2vc6b8m.jpg Edited August 30, 2010 by benny3 Quote Link to comment Share on other sites More sharing options...
benny3 Posted August 30, 2010 Author Report Share Posted August 30, 2010 (edited) 2nd http://i36.tinypic.com/2rrkop2.jpg update http://i34.tinypic.com/2dkfg5l.jpg Took full position for about 140 pips, I was unsure what the market would do here due to slight support, and pluss i wasn't going to get too greedy hehe. http://i38.tinypic.com/2cxhx06.jpg Edited August 30, 2010 by benny3 Quote Link to comment Share on other sites More sharing options...
benny3 Posted August 30, 2010 Author Report Share Posted August 30, 2010 (edited) 3rd http://i37.tinypic.com/fegbr7.jpg still in this trade floating 180 pips http://i35.tinypic.com/34nnpsg.jpg took full position for 232 pips http://i33.tinypic.com/wj994o.jpg Edited August 31, 2010 by benny3 Quote Link to comment Share on other sites More sharing options...
benny3 Posted August 30, 2010 Author Report Share Posted August 30, 2010 (edited) 4th http://i37.tinypic.com/23013d.jpg still in this trade floating 123 pips http://i38.tinypic.com/2lwt5rt.jpg moved stop http://i35.tinypic.com/2zi0dgl.jpg this trade produced about 170 pips http://i34.tinypic.com/25akxuc.jpg Edited August 31, 2010 by benny3 Quote Link to comment Share on other sites More sharing options...
benny3 Posted August 30, 2010 Author Report Share Posted August 30, 2010 (edited) an update about an 1hr half i was floating total of 200 pips. I locked in about 600 pips in 1 day. not bad for a days work... Pity its Demo Edited August 31, 2010 by benny3 Quote Link to comment Share on other sites More sharing options...
benny3 Posted September 1, 2010 Author Report Share Posted September 1, 2010 (edited) Here's another trade i took this morning, i was a bit late posting it due to the fact of rushing to work. I took it because of the Bullish engulfing candle right off support and confluence around the 365EMA. http://i52.tinypic.com/4gg085.jpg update was at break even http://i54.tinypic.com/2lsuxwo.jpg Edited September 4, 2010 by benny3 Quote Link to comment Share on other sites More sharing options...
benny3 Posted September 1, 2010 Author Report Share Posted September 1, 2010 (edited) Another great looking trade taken off daily Resistance also a good run up to a pin bar formation. http://i52.tinypic.com/21nfhqp.jpg Took my damn stop out and then dropped hehe that's why i tend to have my stop about 20 or so pips from the high or low, but in this case it probably should have been about 30 oh well -55 pips. http://i55.tinypic.com/nd3kpd.jpg Edited September 4, 2010 by benny3 Quote Link to comment Share on other sites More sharing options...
benny3 Posted September 7, 2010 Author Report Share Posted September 7, 2010 (edited) 1st trade for the week 6th to 10th of september http://i52.tinypic.com/5ttl4p.jpg an update moved stop to break even http://i54.tinypic.com/263ea7a.jpg trade closed for 100+ pips http://i53.tinypic.com/2s10zg0.jpg Edited September 8, 2010 by benny3 domonkos and fxshare 2 Quote Link to comment Share on other sites More sharing options...
fxshare Posted September 7, 2010 Report Share Posted September 7, 2010 That was indeed a great entry benny. Â Do you look for reversal patterns only at a single platform (FXDD in your case) ? bcoz H4 candle formation depends upon the broker server time , and if you look at Alpari UK MT4 there was no doji or pin bar formed. Quote Link to comment Share on other sites More sharing options...
benny3 Posted September 7, 2010 Author Report Share Posted September 7, 2010 That was indeed a great entry benny.  Do you look for reversal patterns only at a single platform (FXDD in your case) ? bcoz H4 candle formation depends upon the broker server time , and if you look at Alpari UK MT4 there was no doji or pin bar formed. Everything is explained on Page 1 fxshare Quote Link to comment Share on other sites More sharing options...
alright Posted September 9, 2010 Report Share Posted September 9, 2010 Hi. I'm approaching this strategy too and appreciate you're sharing your results. Opposite to other "miracle" systems this one is based mainly on price action, that's why I like it. Now looking at this pic http://i56.tinypic.com/2mxnb6g.jpg I would say that the arrow marks an A setup. Do you agree? But the price now seems to reverse. What would you do in this case? Still wait for the SL to be hit in case it continues to go South? Thanks and keep up the good work. Same goes for EU which reached 70 pips profit and then reversedhttp://i56.tinypic.com/vxmf61.jpg A trailing stop would be more sensible maybe. What do you think? By the way, GU gave a good short instead. Out with 50% and stop moved to b/e ;)http://i53.tinypic.com/1zp3cxd.jpg Quote Link to comment Share on other sites More sharing options...
benny3 Posted September 9, 2010 Author Report Share Posted September 9, 2010 Hi alright, great to have you on board. Notice with this setup it was indeed an A setup,and the videos explain it this way if support or ressistance comes 1st before the center BB move your stop to break even. This is what i would've done, but i probably would not have taken that trade due to the fact that price was making lower lows, remember try to trade with the trend not against it http://i53.tinypic.com/23moch0.jpg Quote Link to comment Share on other sites More sharing options...
benny3 Posted September 9, 2010 Author Report Share Posted September 9, 2010 what trading platform are you using? how come we both have diiferent charts? http://i51.tinypic.com/2ue7cpz.jpg and my one with FXDD http://i55.tinypic.com/29vcl6r.jpg Quote Link to comment Share on other sites More sharing options...
fxshare Posted September 9, 2010 Report Share Posted September 9, 2010 how come we both have diiferent charts? Â in fact i'd asked you regarding that yesterday .. quoting it below. H4 charts will look different in different mt4 platforms. Â Do you look for reversal patterns only at a single platform (FXDD in your case) ? bcoz H4 candle formation depends upon the broker server time , and if you look at Alpari UK MT4 there was no doji or pin bar formed. Quote Link to comment Share on other sites More sharing options...
alright Posted September 9, 2010 Report Share Posted September 9, 2010 I'm using FXCM (GMT +1). I agree with fxshare: since the different broker times, high TF charts will look different, while the difference is not noticeable with lower TF's. My opinion is that in time the differences would level out but I suppose you should carry on taking your trades always on the same platform. EU turned out to be good for 64 pips and rest moved to b/e http://i55.tinypic.com/15mkcpj.jpg  GU good for 70 pips on 50% and the rest at b/e (close to be stopped out unless a miracle) http://i56.tinypic.com/2lsfkfn.jpg  EJ recovered and if not fussy 50% could have been closed at 16 pips away from middle BB. But I bet none of us would have done it for real LOL. Still potential to reach the 1st target though, even if reduced. http://i52.tinypic.com/rivuaa.jpg Going back to the trailing subject, what's your opinion? It's very frustrating to reach something like 70 pips profit and then let it slip away entirely because the the middle BB is still far. Quote Link to comment Share on other sites More sharing options...
alright Posted September 9, 2010 Report Share Posted September 9, 2010 I would have another question: did you try if closing your trades at the middle BB, instead of taking only 50% and moving to b/e, would be more profitable? Of course that will depend on the number of trades reaching the opposite BB and if the difference would be higher than 50% or not. It should be easy to calculate if you kept a journal. Thanks Quote Link to comment Share on other sites More sharing options...
alright Posted September 9, 2010 Report Share Posted September 9, 2010 Just opened an NU chart and spotted this long, good for 90ish pips all together. And a new setup could be behind the corner... ;) Let's not forget we need a better pinbar than the one showing just now... http://i55.tinypic.com/15e7jhf.jpg Maybe time for me to stop cluttering your journal with charts benny :) fxshare 1 Quote Link to comment Share on other sites More sharing options...
fxshare Posted September 9, 2010 Report Share Posted September 9, 2010 Maybe time for me to stop cluttering your journal with charts benny :)Â It would do only good (for ALL of us), if we alert others whenever we find some new trade setups. Individually it will be very difficult to track all the pairs and we may miss some nice profitable trades. The system is very nice and profitable so lets discuss and at the same time try to collect pips together ;) Â I hope benny doesn't have problem using his thread for this , coz we will only be discussing Powerband setups here. Your comments Benny? Quote Link to comment Share on other sites More sharing options...
fxshare Posted September 9, 2010 Report Share Posted September 9, 2010 (edited) This is a setup i found yesterday . as per powerband rules i guess we need to enter immediately when a bar gets closed. but i entered little late, i put buy stop above yesterday's high. not sure if it will work out as the trade is clearly against the trend. anyway lets wait and see.. Setup - Weekly chart USDCHF trading near trendline support, weekly stoch in oversold region http://i54.tinypic.com/ak739f.jpg Trigger - Daily chart, Formation of pin bar, Stochastics begin to hook up from oversold area, if you zoom in and see you can spot a bullish divergence in stoch as well (Low of Sept 1 and 9 are almost the same) http://i53.tinypic.com/ztr87.jpg Target 1 - BB Middle or Swing high in Daily (which is Sept 3 High).. whichever hits first.. Target 2 - Lets decide it later on. If Target 1 hits , the weekly bar will probably form a pinbar and i guess that would be a very nice setup for a long-term trade. SL - Below yesterday's candle for now. But as the risk is quite high, would you suggest moving the SL to breakeven when we spot a reversal bar in H4 or H1 .. am not sure. *********************************************** Update (10th Sept) - Missed target1 by few pips and reversal bar formed in H4 .As price almost touched daily BB middle, i think it is better to exit half of the position right here and move SL for the other half to BE (1.0139).  Also entering short trade with SL above the pin bar. 1st target - H4 BB middle. (R-R ratio is bad for this trade, but taking it just for the sake of learning) :) http://i52.tinypic.com/znuhrt.jpg Edited September 10, 2010 by fxshare Quote Link to comment Share on other sites More sharing options...
alright Posted September 9, 2010 Report Share Posted September 9, 2010 weekly and daily? you're going for gold, mate LOL The trigger bar would have been at the close of Sep 1st for me. You might have got a better price if you entered after that day. The divergence you mention is evident yes and today's daily shows some hopes at least so far, although it's clearly a congested area. Let's hope tomorrow will be a bright day :) Quote Link to comment Share on other sites More sharing options...
benny3 Posted September 9, 2010 Author Report Share Posted September 9, 2010 (edited) Man this is awsome you guys keep up the great work i'm a bit busy at the moment but i'll be posting some charts soon.... Gotta keep the wife happy and run some erands for her :) i did manage to enter some trades but i'm feeling a bit rushed at the moment, so see how we go. Pluss guys it's ok to post as many charts as you like we can all work as a team and try and profit together. Try this EA made for this type of strategy thanks to kenny we are working on it at this thread http://indo-investasi.com/showthread.php/7248-%28REQ-Plz%29-Simple-Take-Profit-EA-based-on-Bollinger-Bands http://i55.tinypic.com/31314ef.jpg floating 10 pips http://i54.tinypic.com/2a6k28j.jpg Trade stopped out at -60:( i rushed this trade and i thought it was an engulfing http://i53.tinypic.com/35hlph0.jpg http://i52.tinypic.com/sfwink.jpg this one is making higher highs but looked like it was stalling on the daily chart http://i51.tinypic.com/ind185.jpg floating at -30 pips... i might stop it early http://i55.tinypic.com/2d1ptva.jpg that's what happens when you go against the trend :) http://i55.tinypic.com/noj214.jpg Edited September 13, 2010 by benny3 fxshare 1 Quote Link to comment Share on other sites More sharing options...
fxshare Posted September 10, 2010 Report Share Posted September 10, 2010 i missed the NZD one. by the time i opened the charts it had almost reached the BB middle lol. update to UCHF trade has been added to my yestday's post. let me look for some new setups.. Quote Link to comment Share on other sites More sharing options...
benny3 Posted September 10, 2010 Author Report Share Posted September 10, 2010 i missed the NZD one. by the time i opened the charts it had almost reached the BB middle lol. update to UCHF trade has been added to my yestday's post. let me look for some new setups.. no worries it's looking abit doubtfull at the moment Quote Link to comment Share on other sites More sharing options...
alright Posted September 10, 2010 Report Share Posted September 10, 2010 fzhare's daily swissie is looking better now, 1st target almost touched at the moment I'm writing. Well done! :) EJ has reached the 1st target as well although only 15 pips and the 2nd lot has been stopped out at b/e. EU stopped out at b/e as well. GU has instead resumed some downtrend (miracles do happpen LOL) but still hasn't decided what to do. Benny, if I can quote my question again, can you please check back your trades if taking out the whole lot at the 1st target would be more profitable? thanks Quote Link to comment Share on other sites More sharing options...
benny3 Posted September 10, 2010 Author Report Share Posted September 10, 2010 Benny, if I can quote my question again, can you please check back your trades if taking out the whole lot at the 1st target would be more profitable? thanks  yeah it would've been better to go for the full position. But i like to take half just to secure at least something, then if it reaches the tp that's just a bonus :) Then if it goes back to break even nothing lost but something gained, what do you think? Quote Link to comment Share on other sites More sharing options...
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