Even great broker can't guarantee you of your SL protection during high volatility. I know a great Australian broker who would always advice traders against news trading. It may not always be brokers. Almost all I know who don't trade the news say ...

Experiences with FxPro

Patience is needed to get entry point. Thanks.

Simple and profitable trading style

HI Pundit78. Just because I was waiting for the weekly candle it was necessary to allow the weekly candle to finally close, otherwise weekly could have closed strongly bearish or having long upper shadow or be obstructed again by the weekly middle ...

Simple and profitable trading style

It was weekend. There was no need

Simple and profitable trading style

Ok

Simple and profitable trading style

What I mean is that if you're in long a trade with the strategy and your SL gets triggered during retracement, then monitor the inability of candles to close below lower band. This offers opportunity to get in again. I hope it's clear

Simple and profitable trading style

Hi Dsncorp. When you check the NZDJPY bullish trade, you would observe that the first position I entered when the first bullish candle closed above the upper band. Then days latter it started retracement and triggered my SL. Then during retracement, ...

Simple and profitable trading style

It works best when price is breaking out ranging/sideways.

Simple and profitable trading style

Weekly SL is safer. But if you're so comfortable using the daily candle for your SL you can adapt yourself to that. Am getting use to using the weekly candle for SL. And so most all my positions are micro lot size.

Simple and profitable trading style

When price trends very strong, do not get in with the strategy. It might just be a retracement and not a reversal

Simple and profitable trading style

I keep repeating some of the things I have said. I will repeat here that when your SL is triggered ( Bullish trade ) wait for bollinger lower band rejection to get in again. For bearish trade you wait for upper band rejection by candlesticks to get ...

Simple and profitable trading style

You don't worry yourself too much when you trade longer time frames. Am not saying SL orders don't get triggered if you trade long time frames. Trading shorter time frames makes you to place many trades. This is what many Forex Brokers want - many ...

Simple and profitable trading style

You have just said it. You know it already. So much noise around the short time frames. My mentor has never encouraged us to trade 4hrs and lower time frames because of noise in the market.

Simple and profitable trading style

I repeat, the weekly has closed above the middle band. Also worth repeating is that middle band acts as support and resistance. It's like a resistance breakout. If you're using the weekly candle as SL a very small lot should be taken, 0.01 and you ...

Simple and profitable trading style

I have downloaded another platform to get in with the GBPNZD long. You would observe that for two days ( 10th and 11th Nonember ) bullish candles were able to close above the upper band, and yet it could not make much move on the pair. This was ...

Simple and profitable trading style

Ok, we're together

Simple and profitable trading style

Another great thing about the GBPNZD current weekly bullish candle is the long lower shadow. The SL should be little below the lower shadow if you're taking it. Weekly SL on daily time frames is more secure.

Simple and profitable trading style

The interesting thing about the GBPNZD is the fact that there was already a very strong move on the weekly 6th July, but was stopped around the middle band.

Simple and profitable trading style

I must say here that when we're late as far as the strategy is concerned we have have to stay away and wait for a continuation trade setup. It might be tempting to jump in when price has already moved only to be hit by strong retracement.

Simple and profitable trading style

Since you're joining and are entry on the weekly I have a chart for you. After all the middle band acts as support and resistance. Your SL may be protected by MB. Your SL little above the Middle band. Take the smallest lot size since the SL is big.

Simple and profitable trading style