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Bolinger Band & Channel trade strategy


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  if you can make any sense of this utter nonsense posted by oilpro please let me know, I have been looking at same such for 2 years now and I'm still laughing. Can you see the BBands he claims exist on this chart? I would be intrigued to know if BB's are included as the indicator used is MT4   .ex4,  (machine readable only), maybe he will enlighten us. 

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Guest oilfxpro

Ellie 

 

The indicator draws horizontal support /resistance on 4 hour and daily, accurate to the pips.It then draws moving averages and trend lines channels.

 

I can see bollingers are rubbish, if a trader want to make money and improve.This is my third week with profits of 10% plus. Just trying to help you.

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Guest oilfxpro

In profitable trading, bollinger can be used to buy low sell high,  Gartman's 22 rules apply to real trading , if you can apply them using bb fine.

 

http://www.dacharts.com/articles/_22rulestrading.htm

 

Markets can remain illogical longer than you or I can remain solvent," according to our good friend, Dr. A. Gary Shilling. Illogic often reigns and markets are enormously inefficient despite what the academics believe.

 

The objective is not to buy low and sell high, but to buy high and to sell higher. We can never know what price is "low." Nor can we know what price is "high." Always remember that sugar once fell from $1.25/lb to 2 cent/lb and seemed "cheap" many times along the way.

 

Sell markets that show the greatest weakness, and buy those that show the greatest strength. Metaphorically, when bearish, throw your rocks into the wettest paper sack, for they break most readily. In bull markets, we need to ride upon the strongest winds... they shall carry us higher than shall lesser ones.

 

An understanding of mass psychology is often more important than an understanding of economics. Markets are driven by human beings making human errors and also making super-human insights.

 

 

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Guest oilfxpro

I can see more accurate information on the indicator , just highlighted trend lines, channels  and supports resistances.See for yourself.Red lines are resistances , blue horizontal lines are supports.

 

indicator trend lines.jpgindicator trend lines2.jpg

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