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double bollinger band strategy ?

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    double bollinger band strategy ?

    You may often hear - or even use - one technical indicator called Bollinger Bands (hereafter we call BB).

    Naturally, if you often hear it, because the indicator named after the creator's name (John Bollinger) is indeed one of the technical indicators that are quite well-known among forex traders.

    Most traders only put one BB on their chart.

    Well, this time we will try to discuss one of the trading strategies that utilize TWO BBs in one chart.

    This strategy is commonly known as the Double Bollinger Bands Strategy. To be easier, we just call the Double-BB trading strategy.

    Mechanical Trading System
    As a trading strategy that uses technical indicators, Double-BB is also a mechanical trading system, which is a trading system based on technical analysis to produce trading signals.

    It is called mechanical because traders who use trading systems like this should make buy, sell, or close decisions based on the signals that emerge from the system, regardless of any sentiment that develops in the market.

    Actually mechanical trading system is more "lighter" than complex forex technical analysis, such as using a price pattern or candlestick pattern.

    That is why this method is quite friendly for traders who are "impatient" and do not have enough knowledge to do analysis using more complex technical analysis. So, this trading method is simpler.

    But remember, that's why trading methods like this sometimes have quite low success rates. There are advantages (simple), there are also weaknesses.

    In essence, you must realize that in the world of technical analysis there is no such thing as a "holy grail", which is a system that is trusted by "anti-loss". Still there are opportunities for losses.

    How exactly is this double BB?
    As mentioned above, Double-BB uses two Bollinger Bands at once in one chart.

    This strategy is very simple, because even though there will be candlesticks involved later - but basically you don't have to bother memorizing candlestick pattern names.

    This strategy does not require you to spend a lot of time in front of the chart. Even you only need to look at daily (D1) charts for just a few minutes each day.

    If you see a trading opportunity based on this system, you can open a position. If not, you just go back to see the chart in the next day.

    No need to look at other time frames, other technical indicators, and so on.

    How to apply Double-BB
    As I promised, this method is very simple. You only need two BB indicators. That is all.

    Install the BB indicator on your chart with the following settings:

    Period: 20
    Deviations: 2
    Shift: 0

    The Bollinger Band indicator is indeed quite well known from forex traders and this indicator has become so global that great world traders have also used this indicator as a basis for their analysis, and I myself have used this indicator as a basis for my strategy, and in my opinion indicators this is very good if learned by a beginner because it is easy to understand


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