Bollinger on Bollinger Bands by John Bollinger [Book Summary]

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Bollinger on Bollinger Bands by John Bollinger [Book Summary]

Preface

John Bollinger uses Bollinger Bands in combination with fundamental analysis to provide an objective view of price behavior.

Part I
In The Beginning

1) Introduction

The basis of Bollinger’s method is to have indicators produce relative readings and be adaptable to changing market conditions.

2) The Raw Materials

Bollinger likes to use a cross between candlestick price bars and regular price bars on a semi-log chart.

3) Time Frames

Every trader or investor should create three time frames for analysis, with each one serving a different purpose.

4) Continuous Advice

One of the keys to trading survival is the ability to be flexible when needed.

5) Be Your Own Master

Decide what you want from trading and adjust your trading tools to meet your needs.

Part II
The Basics

6) History

There were various indicator lines used on price charts before Bollinger Bands. But Bollinger Bands were the first to effectively adjust to volatility.

7) Construction

The two components of Bollinger Bands are the moving average and the two bands offset above and below the average.

8) Bollinger Band Indicators

The bands provide graphical signals. The %b and BandWidth indicators give numerical signals. Both indicators are derived from the bands.

9) Statistics

Bollinger Bands have a statistical foundation. But when measuring price changes, some relationships are non-standard.

Part III
Bollinger Bands On Their Own

10) Pattern Recognition

Price patterns at tops and bottoms have certain characteristics which help identify them as they form.

11) Five-Point Patterns

Price filters reduce complex patterns to basic similar forms. The five point price filter creates building blocks for constructing patterns.

12) W-Type Bottoms

There are several flavors of W bottoms and Bollinger Bands can help identify them when they occur.

13) M-Type Tops

Tops, like bottoms, have distinct relationships to the bands.

14) Walking the Bands

Repeated band touching by prices has significance only when used with other indicators.

15) The Squeeze

The Squeeze is volatility getting compressed like a spring. And like the spring getting released, a big price move will follow.

16) Method I: Volatility Breakout

Volatility has regular cycles which can be anticipated. This method takes advantage of that.

Part IV
Bollinger Bands With Indicators

17) Bollinger Bands and Indicators

Two or more indicators which use different data, can confirm price behavior better than a single indicator.

18) Volume Indicators

Volume indicators offer an additional way to analyze price behavior.

19) Method II: Trend Following

Identifying the start of a new trend is what this method attempts to do.

20) Method III: Reversals

This method is used to spot the signs of a price reversal.

Part V
Advanced Topics

21) Normalizing Indicators

Normalized indicators make comparing different markets and time period simpler, because the outputs are on a relative basis.

22) Day Trading

Day trading has both unique concerns and trading opportunities.

Part VI
Summing Up

15 Basic Rules

An outline of the keys points when using Bollinger Bands.

Wrapping It Up

The value of technical tools is in their ability to provide objectivity in trading.

The book finishes with notes and a glossary.

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When the marketplace hits that price level, these huge players enter the market with the buy order. Some use fibonacci grids for preparing for reversals. Trading is one of the most difficult careers that you can pick.

You initially master how to trade with one lot when you begin trading. When, you have actually mastered trading with a single lot, you need to believe of trading with multi lots. Trading multi lots is a milestone in the trading development of trader. Nevertheless, you need to understand this fact that putting multi lots is a double edged sword and comes with an increased level of risk. The threat can be fast and fast and the drawdown proportionately bigger than a single lot. The challenge is to choose when to trade multi lots!

That strategy is to find an excellent market price (utilizing 2,20 Bollinger Bands, moving averages, and momentum indicators). I am approaching the marketplace with a predefined set of concepts for the day.

Due to the fact that basic systems are more robust than complex ones in the brutal world of trading and have less components to break. All the leading traders use essentially easy currency trading systems and you must to.

I will fund my short-term trading account with a minimum of $60,000 and will Bollinger Bands Trader utilize an optimum 3-1 margin. My financial dedication to my trading account will be $20,000, I will dedicate up to $4,000 to participate in training seminars per year, $350 annually on trading books and $300 monthly for my information and charting software application.

That’s where the idea of using the stop hunters to my advantage comes in. Knowing that everybody probably had their stops up at 0.7570 or so, and knowing how the stop hunters (often) work, I might have made an educated guess that they would attempt to press the cost up there to secure those stops. So rather of going into at the existing market value of 0.7530, I could have placed an entry order at about 0.7570 and simply waited patiently for the stop hunters to accommodate me by Bollinger Bands pressing the price up there. Then I could be going into the trade on the brief side at 0.7570 in addition to the knowledgeable heavy players rather of being secured of my position at that point along with all the sheep.

So far I have actually just hinted about where to put your stops and limitations. Let historical support and resistance levels be your guide. You can integrate those with current momentum readings or Bollinger Bands to offer you a much better idea where to put your stops. If you utilize limitations to get out of trades, this method will also work.

There are many high-quality stocks that failed to take part in the current rally. As a result, I ‘d anticipate cost variations to close rather in a combination phase. Many drug stocks e.g. PFE BMY LLY ABT AZN etc. remain out of favor, while other stocks e.g. LU FNM X INTC CSCO DELL etc. have become much more relatively underestimated. However, oil stocks remained high and GOOG rose above $400. Oil rates and financial reports ought to continue to affect the market. The U.S. stock exchange will be closed Thursday for Thanksgiving. Economic reports next week are– Monday: Leading Indicators, Tue: FOMC Minutes, Wed: Unemployment Claims, Modified Michigan Consumer Belief, and Oil Stocks.

Charts like the candlestick, used with bollinger bands are the most typical method to track rate motion over time. Entering the trading occupation can be a difficult journey for numerous people.

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