Topic: STRATEGY BUILDING (15min chart) BOLLINGER BANDS
I have generated a strategy using the (fsb) generator and guess what, it worked!
i was only too happy to see it go into action and that was my satisfaction!
however, i want more!!!!
the problem is that i see profits go up and up and only to lose them as the market reverses if it does not touch the bands!
please help me lock in the profits or make this strategy better?
any help is appreciated
thank you in advance!
i have pasted the strategy here below
Automatically generated on 6/27/2011 10:22 PM.
Opening (Entry Signal)
Open a new long position or add to an existing position or close a short position at the Lower Band of Bollinger Bands* (Smoothed, Median, 65, 2.92).
Open a new short position or add to an existing position or close a long position at the Upper Band of Bollinger Bands* (Smoothed, Median, 65, 2.92).
Closing (Exit Signal)
Close an existing long position at the Upper Band of Steady Bands* (Exponential, Close, 31, 1826).
Close an existing short position at the Lower Band of Steady Bands* (Exponential, Close, 31, 1826).
Handling of Additional Entry Signals
Entry signal in the direction of the present position:
Add to the position regardless whether it is at a profit or loss. Do not exceed the maximum allowed number of lots to open.
Entry signal in the opposite direction:
Close the present position regardless of its amount or result. Do not open a new position until the next entry signal has been raised.
Trade an account percent truncated to an acceptable number of lots.
Opening of a new position - 1% of the account equity.
Adding to a position - 1% of the account equity. Do not open more than 20 lots.
The strategy doesn't use a Permanent Stop Loss.
The strategy doesn't use a Permanent Take Profit.