take ten to the moon now feat BB3

[fastbucks]

conducting a live trade with an account that has just ten (10.00) dollars in USD funds.tHIS IS THE MINUMUM ONE CAN ENTER THE REAL WORLD OF FOREX WITH.However,because of the margin there is very little room for error ,especiallly on the first trade.Therefore trading tactics such as selling into strenght and buying pullbacks would not be advisable with a ten dollar account.Recently,within the last month the carry trade in eur/jyp has seen a 1200 pip meltdown.The gby/jyp has also melted down from213.74 to where it trades at192.27.Providing this trend continues,we can utilize techicals to catch a downtrend movement before it bottoms out.Or,we can get ready to go long on the bounce.At least that is the theory.Will next wednesday cooperate in providing an opportunity to catch the movement remains to be seen.During the session we will be live,there is always a possibility of a 100 pip move.Our goal is to catch 20 -30 % of this.

[Dennis]

Sounds good to me. But when and how will we know if gbp/jpy is ready to play ball?

[fastbucks]

it can be determined the night before with a look at the one hour and daily chart.This can help in setting up the trade,Then on wed morning another look at 8 am :and a check on the news and releases for that day.Its just a theory for now.Of course it still will be a matter of luck and timing.Until then ,one can only be watching to see what develops.mike

[fastbucks]

today lined up just right.the gbp/jyp moved from 9 55 am to 150 p.m. about100 pips.had we been live today that would of been our trade!One can only hope the stars line up next wed again.

[Dennis]

I see. So what's the minimum move over a four-hour period. And which four-hour period? Shall we say 10-2 GMT on the day of the session with 10 minutes on either side for good measure. What rate of momentum is the minimum. On the example you gave it looked like an average of 25 pips per hour. Which pairs shall we monitor? You mentioned the yen crosses yesterday? Do you want to widen the net?
Hope you don't think I'm being pedantic, just like to have the ground rules clear:)

[Dennis]

Our current short time frame system that we trade in the live session (nxt up Wednesday Oct 29th 14:30- 16:30 GMT) is the BB3 on eur/jpy. Here are the details:

2 candlestick charts eur/jpy, one 15min chart and the other 1min

1. On the 15 min chart: 48 period Moving Average (SMA) (Yellow)

The 48 SMA will show the dominant trend and we will only take trades in the direction of the dominant trend, ignoring any signals opposing it.

2. On the 1min chart:

50 period Bollinger band with deviation of 2 (red)
50 period Bollinger Band with deviation of 3 (orange)
50 Period Bollinger Band with deviation of 4 (blue)
50 period centre boll line (pink)
Stochastic 8,3,3


Here's the trading rules:

Short signal:
15min: SMA above price; moving down
1min: price between top red + orange bolls
stochastic crosses below 80 exit when price hits the pink. If price hits the blue there’s a high chance of a retracement.

Long signal:
15min: SMA below price moving up
1min: price between bottom red + orange bolls
stochastic crosses above 20 exit when price hits the pink. If price hits the blue, there’s a high chance of retracement.

I'll put some charts up when I trade it next.
We'll trade BB3 in the next live session, all welcome.