Hail zee Bollinger Band! And sundry.

After checking out NQoos' Jimmer BB entries for the Floor Trader Method, as opposed to pure price action entries, I wanted to see if I could include Bollinger Bands in my style as well, particularly because I felt I was still missing out on some great moves where there were no Level 1 entries along the way.

After some preliminary testing, the best setup so far seems to be:

• 3-min charts. They seem to offer a good tradeoff between risk and false entries;
• Bollinger Band parameters per Jimmer's setup, i.e. 1.8STDEV and 8-pd MA;
• Trending 9EMA and 18EMA, whose periods are based on 5-MIN CHART (so roughly 15EMA and 30EMA on 3-min chart); and
  
• A candle that has pierced the Lower BB, if EMAs are uptrending, or Upper BB if EMAs downtrending.

Entry is on the break of the high of candle that has broken Lower BB or low of candle that has pierced Upper BB.

Here is a great example of this setup working splendidly in NEM, but this just may be the creme de la creme. There will probably need to be some tweaking.


Also, I offer some other trades based on my Level 1 entry off the 5-min chart.

A loser. Don't really know except 18EMA barely up and pullback was really hard.

A winner. Looked good to begin with. Decreasing volatility with "rounding off" effect.

Breakeven. Hit 2x the setup so moved my stop to breakeven.

A winner. First test of 18EMA usually the most reliable. 9EMA pointing upward in this case. The losing OSK trade above was the next pullback to the 18EMA.

A loser. Don't really know why, except that I have been noticing that when you have a bar or two with shrunken ranges in an otherwise constant volatility pullback, the odds of winning seem to decrease.

Peazout bruthaz.