Using the Magic Bands Trading Strategy on Daily Charts - best forex trading advice

Using the Magic Bands Trading Strategy on Daily Charts ~ best forex trading advice

The Magic Bands trading strategy can be applied to daily or weekly charts as well as scalping charts.

It needs only a minor change which is not completely necessary. There is another indicator called the ribbon which adds a bit of colour to the chart as well as denoting momentum. The ribbon expands as momentum builds and that may be useful for some traders as they inspect their charts to look for entries.

The chart may also be enhanced by the Gator oscillator which shows the momentum, that is optional and is not necessary to use this trading system effectively.

Of course, on a longer chart a person will want to include a trailing stop as the position may last for several days or weeks as shown in the USDJPY chart below. You can see that the long entry lasted for several weeks.

Here is a chart of the Dax Index and on it you can see some great entries as that index has been climbing steadily for several months until this past summer. Once again this simple trading strategy has been able to bring significant profits with a minimum of maintenance to the portfolio.

There are many Forex pairs and Stocks and Indexes that have long trends and are quite well suited to this trading strategy. It requires only a few minutes a day to review a sizable portfolio to do what ever maintenance and entries are required.

To locate instruments that may be suitable for this type of system a person needs only do a scan for trending stocks or currency pairs and there are many to choose from. Probably those with some volatility would appeal to many investors.

The indicator settings  can be found on this page Magic Bands Scalp Trading Strategy along with some other information.

One more chart that I have here for you to glance at is that of Sweet Light Crude, you can easily see that a trend following  strategy would have reaped excellent profits in the past eighteen months.

Be sure to use a trailing stop with this system as the markets are completely unpredictable.

Good Trading..!

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Magic Bands Scalp Trading Strategy As As November 21 (updated) - alerts for forex trading

Magic Bands Scalp Trading Strategy As As November 21 (updated) ~ alerts for forex trading

There was good volatility in the Forex markets today and some excellent opportunities using this simple strategy.

Lets review a couple charts.

First is AUDUSD, you can see a nice move up and then a gradual move down, two simple entries for profit.

Next is EURGBP. There was a nice bearish entry and then another on a retrace. It is important to  be sure that there is a slope on the 15 Bollinger Band and preferably on both sets of Bollinger Bands. This will keep you out of the chop.

GBPUSD. There were a couple bear entries, the second one being after a retrace. Once those two were finished, the next couple  of the potential entries were suspect based on the slope of the BB lines.

I have several more charts below, that you can observe..... note that the best entries have a good slope on the Bollinger Bands.

USDCHF Once the long move finishes the Bollinger Bands flatten out.. close the trade and look for another trade, avoid consolidations and ranging markets with this system. There are many opportunities daily with this system on different currency pairs

On the AUDCHF, once the price retraces to the 50 Bollinger Bands, it is time to get out of this pair and look for another pair to trade. There is no value to trading in the choppy market, it usually ends up in a loss.

CADCHF  Once the long entry retraces.... get out of this pair and look for another entry on another pair...  Stay away from the consolidation periods!

As mentioned, most important is the slope of the Bollinger Bands. There are enough entries available on different pairs that we can pick and choose and be selective as to the entries we take.

In order to be able monitor several pairs for trade opportunity I have a moving average crossover alert set for the 15 crossing the 50, That allows me to be aware of what is happening on different currency pairs as the day passes.

Again, a stop loss is important in this type of trading, I use a trailing stop as well.

Next week we will probably see more volatility in the markets and many resultant opportunities for this simple trading strategy.

Good Trading..!!

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Magic Bands Scalp Trading Strategy as at November 17 (updated) - forex trade alert service

Magic Bands Scalp Trading Strategy as at November 17 (updated) ~ forex trade alert service

With some volatility in the currency markets today there were many opportunities for profits on the 5 minute charts using the Magic Bands Scalp Strategy.

I have prepared a brief video showing potential trades that occurred today.

Magic Bands is a simple trend following strategy using Bollinger Bands and a Bollinger Bands Stops indicator.

The Magic Bands Scalp Strategy is excellent for Forex trading due to the trends in Forex currency pairs.









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TMA Bands Scalping Strategy - forex trading institute in pakistan

TMA Bands Scalping Strategy ~ forex trading institute in pakistan

The idea of using the TMA Bands as a Scalping Strategy can be quite simple. One the price bar has touched or crossed the upper or lower band, it is due to retrace.
For the trader, he has to confirm trend and his entry point.

I favour using the Stochastic Momentum Index and like to wait until I see %K cross over %D. That is my own preference, each trader has to find his own method.

The important thing is to ensure that the chart ‘talks’ to the trader.

Some traders like to observe a higher time frame chart  for signals and then enter on a lower time frame such as a one minute chart.

Here are three 15 minute charts from this morning which seem to be valid entries. You will notice that the price has approached or crossed the TMA Bands and the Stochastic Momentum Index is crossing.

Enjoy!!

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Magic Bands Scalp Trading Strategy as at November 16 (updated) - forex income engine trade alert software

Magic Bands Scalp Trading Strategy as at November 16 (updated) ~ forex income engine trade alert software

To demonstrate the Magic Bands Scalp Trading Strategy I have a few pics of Forex charts taken a few bars after the open and  you will be able to see how several pairs opened.

There were several opportunities for entries with this system as you will easily see as you look at the video.











Some information on the Magic Bands Trading  System on this post

Good Trading!
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Magic Bands Scalp Trading Strategy as at November 23 (updated) - forex trading signal alerts

Magic Bands Scalp Trading Strategy as at November 23 (updated) ~ forex trading signal alerts

The Magic Bands Scalp trading strategy will do well again this week for trend traders who are patient enough to find a trending market.

The tip off to a trade entry for this system is the crossing of the 15 BB and the 50 BB.

Probably a trader will want to have several charts open so as to be able to be in the market as different  currency pairs are trending at different times throughout the trading day

I have three charts below from Friday past.

Entries are best in the Magic Bands scalp system when there is a slope to the trend lines, the Bollinger Bands.

Personally I do my best to avoid the choppy periods with no slope to the lines..... I have had terrible experiences trading in chop. lol

Good Trading..!

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