660 USD in profits. Trading the Bollinger Bands
5 minutes chart
The market opened with a gap down. Usually I don't bet on gaps closing. But, this gap happened to be at the lower band of the Bollinger Bands. ( see 15 minutes chart below). I was confident that the gap will not only close but go beyond the gap to reach the top of the band. I entered 1 lot at 1662 and another 2 lots at 16635. I set my stop loss at 1658, a pretty tight stop loss because I was prepared to leave as soon as the trade turn against me. I set a limit order to sell 3 lots at 1674 which is the high of yesterday. The trade was highly successful, although there were minor hiccups along the way. After I took profit at 1674, NQ went further up to 1682.5, there was no way I can predict that. Most traders would kick themselves for not staying longer in the market. But remember, GREED, is one of the biggest money losers you can have.
15 minutes chart
