Learn how to trade:
Share this
What is the Gimmee Bar Trading Strategy?
The Gimmee Bar Trading Strategy is a trading technique that uses Bollinger bands as well as price action to trade price ranges.
Range trading, though it aims for small profits, the profits are consistent.
The Gimmee Bar Trading Strategy works best during low volatility moments when there are no range breakouts. Therefore, avoid using it during high volatility periods when range breakouts are common.
Calculate your binary options profits here
Trade History
About the Gimmee Bar Trading Strategy
The Gimmee Bar Trading Strategy was authored by Joe Ross.
The strategy aims at spotting down entries from the top of the price range and up entries from the bottom of the price range.
Wondering how the Gimmee Bar looks like?
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
Well, it depends on whether you anticipate taking a down trade from the range top or an up trade from the range bottom.
Here are the specifications:
- Bearish Gimmee Bar: Prices must be rising within a trading range until it tags the upper Bollinger band. The bar that closes lower than open after the rising price touches the upper Bollinger band is the bearish Gimmee bar.
- Bullish Gimmee Bar: Prices must be falling within a trading range until it tags the lower Bollinger band. The bar that closes higher than open after the falling price touches the lower Bollinger band is the bullish Gimmee bar.
Are you a trader in Olymp Trade and wondering how to set up and trade this strategy?
In this post, I will show you how you can set up and profitably trade the Gimmee Bar Trading Strategy in Olymp Trade.
Compare brokers here:
You are just about to realize how low volatility price ranges can grow your account consistently, even when major trading sessions are closed.
Setting Up and Trading the Gimmee Bar Trading Strategy in Olymp Trade.
The Gimmee Bar Trading Strategy is a simple strategy.
This, without a doubt, means that it is also easy, both to set up and to use in your trading.
If we proceed with such an understanding, I’m sure you won’t find anything difficult in applying this strategy in your trading.
Here are the simple steps to setting up and trading the Gimmee Bar Trading Strategy in Olymp Trade:
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
-
Ensure Market Volatility is Low.
We mentioned that the Gimmee bar trading strategy works best during low volatility moments when there are no range breakouts.
It should, therefore, be avoided during high volatility periods when range breakouts occur often.
Meaning, the first thing to establish is a less volatile market.
Less volatile markets are known to range and not exhibit breakouts.
Range trading strategies such as the Gimmee bar strategy work well in such markets.
But how do you establish a less volatile market though?
You can use price action to see markets that seem to trade within the support and resistance.
Additionally, if trading currency pairs, you know that volatility is highest when the trading session related to the currency pairs you are trading is open.
Expect low volatility in currency pairs whose sessions are closed.
Look at each currency pair, the Forex session it is related to, and when it opens and closes.
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
You can then take advantage of the times when the sessions are closed to apply the Gimmee bar trading strategy.
The guide ‘Choosing the Best Trading Time for Olymp Trade in India’ will help a great deal.
-
Set Up the Indicator.
Do you have low volatility ranging market already?
Then you are doing well so far.
You can set up the only indicator required for this trading strategy and proceed.
The only indicator required here is the Bollinger Bands.
Click on the Indicators tab and choose Bollinger Bands.
You can apply it in default settings or adjust it according to your liking, as determined by the timeframe you are trading on.
-
Establish a Trading Range.
Do you observe price action in relation to support and resistance levels or what exactly do you use to establish a trading range here?
That must be a disturbing question but I’m about to answer you right here.
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
You observe price action in relation to the Bollinger Bands indicator to establish a trading range. But how is that done?
It is a simple activity.
The price must have tagged or touched the upper and lower bands of the Bollinger Bands Indicator several times without breaking out in order to resort to a trading range.
A Bollinger Bands breakout is where the price touches either the upper or lower band but does not reverse away from the band but continues in that direction.
Consequently, the bandwidth of the indicator changes course towards the prevalent direction of the price.
Establish a trading range and proceed to the next step.
If a trading range is lacking, observe another market and ignore one which lacks a range.
-
Identify a Gimmee Bar.
After establishing a trading range, it is now time to trade. To trade the Gimmee bar trading strategy, you must first spot the Gimmee bar as the entry trigger.
Do you remember how the Gimmee bar looks like from the introduction? Here is how it looks like:
- Bullish Gimmee Bar: First, the price falls within the trading range. Next, the falling price must tag or touch the lower Bollinger Band. The bullish candlestick which occurs after those two events is the bullish Gimmee bar.
- Bearish Gimmee Bar: First, the price rises within the trading range. Next, the rising price must tag or touch the upper Bollinger Band. The bearish candlestick which occurs after those two events is the bearish Gimmee bar.
Not every bullish candlestick which occurs after the falling price within a range touches the lower Bollinger band is a valid bullish Gimmee bar.
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
Similarly, not every bearish candlestick which occurs after the rising price within a range touches the upper Bollinger band is a valid bearish Gimmee bar.
There are exceptions to the Gimmee bar.
Gimmee Bar Exceptions.
Gimmee Bars to avoid are ones which:
- Overlap with or are close to the Bollinger Band central Moving Average.
- Have a wide range or are longer than average compared to the previous candlesticks.
- Are followed by a trading gap as the next candlestick after the Gimmee bar opens beyond the range of that Gimmee bar.
So far, I hope you have already noted that a Bullish Gimmee bar is to be expected at the lower Bollinger Band.
On the contrary, a bearish Gimmee bar is to be expected at the upper Bollinger Band.
Spot a valid Gimmee bar free of the exceptions and proceed to the next step.
-
Set Up Buy Stop or Sell Stop Pending Order.
Bullish Gimmee Bar: Place a Buy Stop Pending Order 1 tick above the high of the Gimmee bar.
Bearish Gimmee Bar: Place a Sell Stop Pending Order 1 tick below the low of the Gimmee bar.
-
Adjust Stop Loss and Take Profit.
In a real sideways market, prices should bounce off the Bollinger Bands (ranging) without pushing further beyond them (breaking out).
Therefore, tight Stop Loss orders are possible, improving your risk to reward ratio.
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
Place the Stop Loss for the buy order just below the low of the Gimmee bar.
On the contrary, place the Stop Loss for the sell order just above the high of the Gimmee bar.
Take Profit from the opposite Bollinger band projection.
For the buy position, just look at where the upper Bollinger Band currently is, and place the Take Profit at that price level.
For the sell position, however, look at where the lower Bollinger Band currently is, and place the Take Profit at that price level.
Final Thoughts.
Was it rocket science setting up and trading the Gimmee bar trading strategy in Olymp Trade?
I guess not, because as you have witnessed, the strategy is simple and easy to apply.
Set up and trade the Gimmee bar trading strategy in Olymp Trade and rescue your trading account from a perennial decline.
Happy Trading!
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
Share this
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
Recent Posts
You Will Become Rich Quickly if You Live in One of These 6 Countries.
Where in the world is it easiest to become rich? While so many people think that to become rich you’ve got to live, work, and do business in Iceland, Sweden, ….
You Can Make $274 if you Invest $100 Ten Times With a Winning Rate of 70%
Quite so often we receive WhatsApp texts or even telegram messages of traders asking, “how much will I make if I invest $100 in Olymp Trade?” While it is easy ….
XM Seminars for 2020 | Register a Real Trading Account to Book Seat
XM Global Ltd operating under the business trading name XM is a securities service provider licensee regulated and authorized by the International Financial service commission (IFSC) in Belize under the ….
XM MT4 | How to Make Money Trading Forex on Your Smartphone
Did you just register for a Forex trading account – which by the way, you hope to use to make so much money online but are still stuck wondering what ….
XM Global vs Olymp Trade | Which Broker to Join?
XM Global vs Olymp Trade, which broker should you sign up for? The real question should be, between Forex trading and Fixed Time Trading, what’s best for a beginner? Tell ….
XM Global No Deposit Bonus Forex! XM Forex $30 Bonus
COLWMA (City of London Wealth Management Awards) winner of Best FX Service Provider 2023, XM Forex is one of the best Forex brokers with a no deposit bonus globally. The ….
XM Forex: How Does Forex Trading Work?
To understand how Forex trading works, we must first understand what Forex is. And what is Forex you ask? Forex, also known as foreign exchange or FX, is the global ….
XM Forex Bonus $30 – How to Start Forex Trading Without Money
One of the reasons why most new traders fail to go past the demo account is the fear of losing money trading on a real account. But what if I ….
XM Forex 10th Anniversary Promo | Up to $1,000,000 to be Won in Prizes
Hey there,Do you want to raise so much money so fast for Christmas? How much do you wish to raise?Ksh. 50,000, €1,000, ₽2,000, ₹4,000,… or $10,000?Well, if your budget falls ….
XM Broker: Why is Forex Trading Popular?
There are so many reasons why people trade Forex. Some of these reasons also double up as the advantages or benefits of Forex trading. And what are these benefits you ….
Broker Comparison
Top 5 Binary Options Brokers With $10,000 Demo Account
Binary options trading is fast becoming popular in the world and with this popularity the urge and to find the best broker to trade with. But when we talk of ….
Tips to Becoming a Forex Millionaire in Kenya
Most people in Kenya have turned to forex trading to earn an extra coin. To start trading forex though, you need to have an account that will hold your money ….
SabioTrade: Get Funded and Withdraw up to 80% Profits
Are you looking for a way to trade Forex with a funded account and withdraw up to 80% of your profits? If so, you might be interested in SabioTrade, a ….
Quotex vs Olymp Trade. Which Broker to Sign up With?
Quotex vs Olymp Trade which broker should you sign up with? This is a common question that we get all the time, especially from newbie traders who want to sign ….
Quotex Broker Regulation Vs Olymp Trade Regulation
Quotex Broker is a binary options broker that offers access to its trading platform globally to traders who’d like to make money trading in shorter time frames. Just like Quotex, ….
Nigeria Forex Millionaires And Their Forex Strategies
Forex trading has spread to several parts of the world and is legal in Nigeria, and Africa. However, it operates within a gray area. Subsequently, the Central Bank of Nigeria ….
Is Qx Broker Among The Best Binary Options Brokers
Binary trading is one of the easiest and safest ways to trade online. It is also the fastest-growing form of investing. Binary trading is one of the easiest ways to ….
IQCent Broker Review With User Opinion, Legit or Scam?
Do you want to start trading with IQcent and don’t know if to trust them or not? Welcome to our comprehensive review of IQCent, the online trading platform that has ….
IQ Mining Review Plus Users Opinion. Legit or Scam?
IQ Mining is a dual-purpose platform, serving as both a cloud mining hub for cryptocurrencies and a broker for Forex and binary options trading. Its efficient utilization of smart contracts ….
Forex Millionaires in South Africa and How they Make Money
Last week, we started a new series of listicles on this blog. Our objective? To explore, discuss, and reveal the faces of forex millionaires in the countries where forex is ….
Business Ideas
What is the Best Business to Start in Kenya?
Kenya is a great place to start a business. The best type of business may be different for you, depending on your skill set and what you are looking for ….
What Business Ideas Make The Most Money
Are you an aspiring business entrepreneur? Check out our list of the most popular business ideas in 2024. People venture into the business world for different reasons. Some because they ….
What Business Can I Start With 2k In Kenya In 2024?
Kenya is a great place to start a business. The economy is growing, the population is young and there is a lot of opportunity for entrepreneurs. However, starting a business ….
Top Business Ideas that Will Make 375 SAR Daily in Saudi Arabia in 2024.
It is common knowledge that Saudi Arabia is the world’s greatest oil producer. Around 25% of the world’s petroleum reserves are processed in the country. According to statistics, Saudi Arabia’s ….
Top 50 Online Shopping Sites in India.
You must have found yourself ordering a thing or two from an online store and they delivered to your preferred address, right? Now that is the new fashion of doing ….
Top 50 Most Profitable Businesses in Kenya
Ain’t it not easy to say I want to start a business in 2024? Of course not. You have to do your due diligence: come up with a business idea, ….
Top 50 business ideas for All Ages {Online and Offline Ideas}
Many people desire to venture into entrepreneurship for different reasons. For sure, being your own boss, working from your home, garage, or office, offers total control and satisfaction. You can ….
Top 5 Instagram Businesses to Start
Instagram is an amazing photo and video sharing app that we use to connect to friends and family online. Interestingly, Instagram is as much a great place to start your ….
Top 30 Best Businesses to Start in Eldoret Town
Would you like to start a small business in Eldoret town? Which business do you have in mind? Do you have data to back up its profitability and to maybe ….
Top 20 Small Businesses For University Students In Kenya
Are you a university student in Kenya and looking for small business ideas to start? You are in the right place. In this article, I will show you the #20 ….
Make Money
Works at Home: 30 Ways to Make Money Fast (Online And Offline)
No matter what your situation is, there’s a side gig for you. Whether it’s to make a little extra cash or help solve an emergency issue, having a backup plan ….
Will Shiba Inu Coin Keep Making Investors Rich in 2024?
The Shiba Inu Coin has been one of the most popular crypto success stories since 2018. This meme-based cryptocurrency moved to its highest in just a few years making it ….
Which TikTok Star Will Have the Most Followers in 2024?
TikTok is a social media app that has taken the world by storm. It is a platform where users can share short videos of themselves. The app has been downloaded ….
Which Freelancing Site Should I Visit To Make Money Coding?
Freelancing is the best way to make money because it allows you to work on your own time and set your own schedule. You can take jobs that are local ….
Where to Get FREE NFTs: 11 Easy Ways to Do It
Non-fungible tokens (NFTs) are all the rage right now. These unique digital assets are quickly becoming a staple in the world of blockchain gaming and collectibles. The best part about ….
What’s The Best Business to Start in Kenya in 2024?
There are many businesses that you can start in Kenya in 2024. However, not all of them will be successful. It is important to do your research and find a ….
What No One Says About Olymp Trade! Put Together in a Video.
Could this be you? You opened an Olymp Trade account. Made a deposit. Traded on a live account for the first time. The outcome? You lost your first $10 deposit. ….
What is the Easiest Way to Make Money Online in Kenya in 2024?
There are thousands of ways you can make money in Kenya. Some of them require no skill or experience whatsoever, others? You’d need skill and experience to do with success. ….
What is The Easiest Way to Make $100 Today?
If you’re already making money online, skip this post. If you’re not already making any money online keep reading. Because the methods that I’m about to show you in this ….
What is The Easiest (Non-Scammy) Way to Make Money Online?
Making money online can seem like a daunting task. There are so many scams and get-rich-quick schemes out there that it’s hard to know what is legitimate and what isn’t. ….
Quotex Tutorials
What is Quotex? Quotex Trading Course for Beginners
Quotex is a cutting-edge digital options trading platform known for its user-friendly interface and numerous tradable assets, including OTC pairs, traded 24/7. The Quotex trading platform accommodates traders of all ….
Try This Quotex 1 Minute Strategy for Fixed Time Trades
While binary options trading is easy and only requires traders to choose between two different outcomes, it isn’t always profitable without a strategy. My honest truth, You can lose so ….
Top Traders on Quotex ++ Earnings And Strategies
Quotex, the most popular trading platform in 2024, has seen a surge in popularity in recent years. With more and more people looking to make a quick buck, it’s no ….
Risk Management: Trading Course for Beginning Quotex Traders
Risk management is an important discipline that traders must understand and implement if they want to protect their capital and improve their potential for profits. In other words, without risk ….
Qx Broker: How to Register with Quotex, Quotex.io in 2024
In order to start trading on the Quotex broker platform, either on the demo or live account, you must create an account. If you are doing this for the first ….
Qx Broker : How to Fund Quotex With Instant EFT in SA
Are you a South African trader looking for a reliable and efficient platform to deposit money and start trading with? Look no further than Quotex! With the addition of the ….
Quotex, Qx Broker 80% Weekend Bonus Promo Code
Welcome to the exciting world of trading! If you’re looking for a reliable and user-friendly trading platform, then look no further than Quotex.io. Qx broker is today giving out trading ….
Quotex Withdrawal Problem? Use This Other Method
Are you looking for a reliable and profitable binary options trading platform? Do you want to join thousands of traders who are making money online with Quotex? If yes, then ….
Quotex Weekly Tournament: Up to $10,000 in Prize Money
Every other month, the Quotex trading platform allows its users to participate in trading contests and earn more money. One such contest or tournament is the Quotex weekly tournament with ….
Quotex Trading Course for Beginners: Market analysis
Once you create a demo account in Quotex to start trading, you will notice that the platform has some type of chart. Generally, trading platforms have 4 different chart types ….
XM Tutorials
How XM Trading Works in Kenya
If you went to Google and searched, “how XM trading works” then chances are, you have never traded before, you don’t have a trading account and most importantly, you want ….
How To Trade With XM Forex.
So, you have just created a trading account in XM Forex and completed the account opening process successfully and now you are wondering, what next? How does Xm trading work? ….
How to Trade on XM Even on Weekends
Trading the financial markets via a broker like XM means getting access to real-time pricing of the financial assets when you want to trade. But, as we all know, the ….
How to Open a Trading Account With XM in Kenya.
If you are reading this post then chances are, you are convinced that Xm is the best broker for retail Forex, both locally and globally. And the truth is, XM ….