I've recently been testing the B.B. Reversal strategy. On XBTUSD using the 5min. candles & So far has proven to be quite profitable...(I just started testing earlier today. Sooooo) Anyways The Rules are simple, Stick to the Rules, Always wait for confirmation candle and MOST Important IS To TAKE PROFITS early. I found it to be a far better strategy IF I have a predetermined 'take profit' set. using this method it around the $200 mark, but everything is situational of coarse, but with practice you'll know when the time is right. Just DO Not Get Greedy. I've found out the Hard Way. That bitcoin is a sloth, except for when the market actually moves, and I've watched too many $200+ profits get erased in a moments notice w/o warning NEVER to return... Here are the Rules I employ: * subject to change w/o prior notice... lol
1.- Only employ this strategy using either the 5min & OR the 1 hour candles Plz 2.- Once candle breaks through the B.B. but then closes back inside the B.B. (I've highlighted examples in chart) Once the follow candle which starts inside B.B. then usually the candle willl 1st venture back outside the B.B. almost matching previous wick... Once that candle closes back inside B.B. then its confirmed to follow trend 3. take profits at Mid way of B.B. unless candles break through Half line w/ no problem, should result in complete crossing of B.B. ( from top - botttomo vice versa) a Gud example is IF the trending candle closes prior to crossing midway point then TAKE PROFITS Bcuz possible reversal. IF trending candle closes after crossign midway, Hell I still take my profits.... then wait to jusge market at that time, If able to jump back in do so IF not NEVER chase trends. There will Always be another opportunity. Some say count your blessing. I prefer to count my profits, but thats just Me... Too each is Own...
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Cheers,
Happy Investing
bitcoinatx
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& EXIT STAGE LEFT.... Im Outty.. WOwZeerrrs,, What A wild ride that was.....
I think I will be employing this strATEGY moving 4ward.. lol I Luv Mes My bitcoins.
\cheers,
bitcoinatx
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DAMN BEAR TRAPs..... I hope you were able to close positions with profits, & even better I was able to reverse once I noticed the trap. taking profits both on my short & then just now exiting my long... I was able to spot this trap Bcuz I was viewing the 5min. charts..... Although if apply the B.B. strategy Im experimenting with it showed "TRAP" on BOTH 1 hour & 5 min....
Cheers,
Happy Investing