This thread is different from other threads in that in order for someone really to remain up to speed on what's going on, he or she has to have watched the videos, at least the first video and then the most recent two or three. That means that this thread requires a larger commitment of time and effort than a traditional FF thread. It will not be for everyone.
If you haven't taken the time to watch the videos and if you do not understand the rules of MeBob that define the set ups, please do not post charts and trading commentary to this thread. If you have an ego that needs to be fed, go eat elsewhere. This the central theme of this thread is the MeBob method found in post #2. If you are posting charts and trade commentary that is not MeBob compliant, take it to a trading discussion thread. This is a systems thread dedicated to a specific system.
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Recently I was reintroduced to a strategy for day trading the S&P 500 that originated over 30 years ago called "the MeBob Strategy."
Soon after I started trading, I joined a trading room on a website called avidtraderDOTcom. I don't know why he closed his service, but at some point in the later 2000's Avidtrader shut down his trading room. There were many good traders there and quite a few hungry newbies like myself (Tom Hougaard, whom some of you know as TraderTom and is the author of the book Best Loser Wins was, at that time, one those hungry newbs!).
One of the more experienced members went by the name MeBob. He came up with a method that was called, fittingly, the "Mebob Method," and it was based on the use of what he called a reference bar. The specific reference bar was the five-minute bar that opened at 10:05 AM Eastern and closed at 10:10 AM Eastern on the S&P 500. The concept of having and using reference bars remained a part of my own search for my own method all these years.
This thread exists because this past weekend I was "cleaning out" my gmail account (which is almost as old as my trading efforts) and I found an old email I sent to myself about the Mebob trading method. I then went looking for information online about MeBob the person to see if he might be active somewhere, and sadly what I found was his obituary. He passed away in 2023 just a few months short of his 88th birthday.
I decided to create a "mebob" template in Ninjatrader, and after some cursory visual back testing, I decided that since I am usually done with my main trading instrument and method before or soon after the NYSE open each day, I'd explore the MeBob method, but I'd do so using price action concepts I've learned since those early days of my trading. These price action concepts I learned largely from studying Al Brooks and Bob Volman, and I take no credit for either MeBob, or the price action concepts I'll be using as I explore this hybrid of the two, which I rather uncreatively call "the PriceBob Method."
@bluesteele found a Tom Hougaard document online in which TraderTom preserved some elements of the original MeBob Method. You can read and download that document at this link (the MeBob discussion is on pages 28 - 41): Avid Trader Tribute.docx
I will post a copy of the original MeBob rules in the next post to this thread.
I will be adopting and adapting the MeBob reference bar to a more price action oriented approach of entering and managing trades: Hence, "The PriceBob Method."
I intend to make an effort, at least for the next few weeks, to record live trading of the ES using this hybrid method. The method itslef is a "work-in-progress." I welcome others to post and share their own attempts to incorprate the MeBob method into their own trading. For the record, I am not an "anti indicator" trader. However, in keeping with the spirit of the original MeBob method and its creator, I ask that you refrain from adding MA's, oscillators, and other derivitive squiggly lines to your charts in this thread. The focus should be on using the MeBob reference bar and price action itself to identify and manage trades. I thank you all in advance for keeping the MeBob spirit alive!
Here is a video I made where I introduce both how to identify the MeBob reference bar and also attempt to show some of the price action concepts I intend to use with the PriceBob method.
If you haven't taken the time to watch the videos and if you do not understand the rules of MeBob that define the set ups, please do not post charts and trading commentary to this thread. If you have an ego that needs to be fed, go eat elsewhere. This the central theme of this thread is the MeBob method found in post #2. If you are posting charts and trade commentary that is not MeBob compliant, take it to a trading discussion thread. This is a systems thread dedicated to a specific system.
___________________________________________________________________________________________________________________________
Recently I was reintroduced to a strategy for day trading the S&P 500 that originated over 30 years ago called "the MeBob Strategy."
Soon after I started trading, I joined a trading room on a website called avidtraderDOTcom. I don't know why he closed his service, but at some point in the later 2000's Avidtrader shut down his trading room. There were many good traders there and quite a few hungry newbies like myself (Tom Hougaard, whom some of you know as TraderTom and is the author of the book Best Loser Wins was, at that time, one those hungry newbs!).
One of the more experienced members went by the name MeBob. He came up with a method that was called, fittingly, the "Mebob Method," and it was based on the use of what he called a reference bar. The specific reference bar was the five-minute bar that opened at 10:05 AM Eastern and closed at 10:10 AM Eastern on the S&P 500. The concept of having and using reference bars remained a part of my own search for my own method all these years.
This thread exists because this past weekend I was "cleaning out" my gmail account (which is almost as old as my trading efforts) and I found an old email I sent to myself about the Mebob trading method. I then went looking for information online about MeBob the person to see if he might be active somewhere, and sadly what I found was his obituary. He passed away in 2023 just a few months short of his 88th birthday.
I decided to create a "mebob" template in Ninjatrader, and after some cursory visual back testing, I decided that since I am usually done with my main trading instrument and method before or soon after the NYSE open each day, I'd explore the MeBob method, but I'd do so using price action concepts I've learned since those early days of my trading. These price action concepts I learned largely from studying Al Brooks and Bob Volman, and I take no credit for either MeBob, or the price action concepts I'll be using as I explore this hybrid of the two, which I rather uncreatively call "the PriceBob Method."
@bluesteele found a Tom Hougaard document online in which TraderTom preserved some elements of the original MeBob Method. You can read and download that document at this link (the MeBob discussion is on pages 28 - 41): Avid Trader Tribute.docx
I will post a copy of the original MeBob rules in the next post to this thread.
I will be adopting and adapting the MeBob reference bar to a more price action oriented approach of entering and managing trades: Hence, "The PriceBob Method."
I intend to make an effort, at least for the next few weeks, to record live trading of the ES using this hybrid method. The method itslef is a "work-in-progress." I welcome others to post and share their own attempts to incorprate the MeBob method into their own trading. For the record, I am not an "anti indicator" trader. However, in keeping with the spirit of the original MeBob method and its creator, I ask that you refrain from adding MA's, oscillators, and other derivitive squiggly lines to your charts in this thread. The focus should be on using the MeBob reference bar and price action itself to identify and manage trades. I thank you all in advance for keeping the MeBob spirit alive!
Here is a video I made where I introduce both how to identify the MeBob reference bar and also attempt to show some of the price action concepts I intend to use with the PriceBob method.
Inserted Video
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