Hello dear trader,
.....first of all apologise for my english,sometimes is not that good....
Before I start I would like to clarify that this isn't my strategy althought I implemented to my needs....Those who familiarize with my work know that I like to use offline charts and I play with them for few years now so I have some experiance!
All story about why I use Constant range bars you can read here http://www.forexfactory.com/showthread.php?t=482737 to know me and my understanding of how I doing this!
About this great strategy you can read on this thread http://www.forexfactory.com/showthread.php?t=463573....it isn't easy (took me few months to catch all aspects) but when you get 'aha' moment it will become easier....I still learn everyday,but improving myself on daily basis....Didn't want to hijack that beautifull thread so I opened my own!
After few months of playing with setting,different brick sizes,how many charts will there be? I created product that can be real good and want to share here because last 5 years I've learned much in this community so want to back something and I am strong believer of sharing is carrying!
RULES OF THREAD!
1. Be nice to each other,we are all here for same reason to make and take money from banks (and we all know how cruel this bussiness can be)
2. Respect each other because everyone here passess different stories so without help and this great community we all wouldn't be here now
3. I will be harsh but fair (that means that I will bann everyone who will try to make problems,or provoke members)
4. Read the thread and don't ask questions that has already been aswered!
5. You will have only one warning and after that will bann you queitly!
6. I am strong believer that there is not bad or good thing in forex only the view of each person so it is really stupid to argue of stuff about money management,stop loss thing or something!
7. Respect the title of thread and post ONLY about constant range....no renko,no candles,no anything else than CRB!
STRATEGY!
Till now I have been struggling with candles and many different timeframes and i come to conclusion that I am interested in specifical move not in what timeframe will that move happen,but for my trading this wasn't enought,something was missing so I added 1 more chart and my results improved but still not complete filled.Than i added another one to see whole story and implemented to my needs,and I am happy now!
So now I use 3 charts for 1 pair (much much better than 9 tf charts isn't it?)
Long term brick size 45 giving me overall picture of what currency pair doing!
Medium term brick size 20 which connecting longer vs.shorter understanding!
Short term brick size 8 to give entry and exit in the market!
So 9 charts of each currency pairs i narrowed in only 3 so 45 is similar like daily moves,20 is similar like 1h-4h and 8 chart could be link to 15 min chart so you see that I like to trade intraday!
BENEFITS:
1.CRB are much less sensitive than candles so if you see good opportunity it has more chance that you will catch move,but petientce is required for that offcourse;
2. It is easier and cleaner for our eyes than candles
DEFECTS:
1.You can miss move bacause it is not based on any timeframe so you don't get opportunity to enter again!
2. You need more screen time because you don't know when move can ocured!
Ok now we have charts so would be good to tell something about MM and pairs that I am using!
PAIRS!
1. Eur/Usd Eur/Aud Eur/Nzd Eur/Jpy Eur/Cad -euro sector
2. Gbp/Usd Gbp/Aud Gbp/Nzd Gbp/Jpy Gbp/Cad Gbp/Chf -cable sector
3. Aud/Cad Aud/Jpy Aud/Usd Aud/Nzd -aussie sector
4. Nzd/Usd Cad/Jpy Nzd/Jpy Usd/Jpy Usd/Cad -rest sector
It is 20 pairs and i put them in sectors so easier understanding!
Those who use offline charts know that metaquotes had awfull offer for offline so offcourse we cannot use many pairs because our charts would slow down and we cannot go into deep history so I hope one day metaquote will resolve this issuess,till now we must trade with what we have!
So every weekend i do analyse of 20 pairs and pick 5-7 best looking ones (that much i can follow without techicall problem on 2 monitors!)
HINT: is that you find best pair of every sector that you would follow + 1 or 2 more because you don't want to stuck in 2 similar pairs and lose twice!
HINT: everyday after trading day go throught all pairs maybe you want to change something over week!
MONEY MANAGEMENT!
After you have your pairs ready and you do your analyse on 45 and 20 chart you entering on 8 chart
Stop loss:
Stop loss is usually 20-30 pips depend on pair and my plan is to risk 1% to get 2% on each trade
HINT:you don't have to risk more because if you are right than PA will move in your favor,if you not 20-30 pips on 8 chart is enought,you will see throught time and in 80% of times it is on swing low or high
This is not set in the stone because I am still working on money management but for now it is this one
Take profit:
Tp is twice the stop loss so 1:2 risk reward ratio but it is good to use trailing stop so if your trade goes in your favor lets say 5 pips,you move your stop loss on -15 so you lose less simple as that
As we use momentum pa will move or would not so till now think that this MM is good
HINT:You don't need to force anything,be patience and % will come.Think like this if you have 7 trades per week,it is 28 trades per month so with only 50% strike rate you will earn 15% in month after compounding in few month you will be free!
On purpose I don't want to talk about more monthly 50% because consistency is important if you want to be good trader not 1 month 50% next -20%!
And if we use trailing that number would be ven higher so odds are in your favour (and hopefully you will have more than 50% strike rate as this strategy definately provide it)
If you are patientce and discipline enought to wait only A opportunities you need only 4 trades per week with 3 good ones and 1 bad with 20% monthly!
Those at expert level will have even more but one step at a time!
TRADING TIME:
I trade from Frankfurt open till London close sometimes 1 or 2 hours more but many time less because at that period market moves faster!
RULES OF SYSTEM:
It is hard for me to explain all this in first page but those who read Alien strategy know about rules and to other i advise to read it also before you come and trade CRB
We have better opportunities and not that good ones!
Throught time we will go with setups and because market repeat this over and over again it is up to you when you will learned it!
EXAMPLE OF 1 TRADE!
.....first of all apologise for my english,sometimes is not that good....
Before I start I would like to clarify that this isn't my strategy althought I implemented to my needs....Those who familiarize with my work know that I like to use offline charts and I play with them for few years now so I have some experiance!
All story about why I use Constant range bars you can read here http://www.forexfactory.com/showthread.php?t=482737 to know me and my understanding of how I doing this!
About this great strategy you can read on this thread http://www.forexfactory.com/showthread.php?t=463573....it isn't easy (took me few months to catch all aspects) but when you get 'aha' moment it will become easier....I still learn everyday,but improving myself on daily basis....Didn't want to hijack that beautifull thread so I opened my own!
After few months of playing with setting,different brick sizes,how many charts will there be? I created product that can be real good and want to share here because last 5 years I've learned much in this community so want to back something and I am strong believer of sharing is carrying!
RULES OF THREAD!
1. Be nice to each other,we are all here for same reason to make and take money from banks (and we all know how cruel this bussiness can be)
2. Respect each other because everyone here passess different stories so without help and this great community we all wouldn't be here now
3. I will be harsh but fair (that means that I will bann everyone who will try to make problems,or provoke members)
4. Read the thread and don't ask questions that has already been aswered!
5. You will have only one warning and after that will bann you queitly!
6. I am strong believer that there is not bad or good thing in forex only the view of each person so it is really stupid to argue of stuff about money management,stop loss thing or something!
7. Respect the title of thread and post ONLY about constant range....no renko,no candles,no anything else than CRB!
STRATEGY!
Till now I have been struggling with candles and many different timeframes and i come to conclusion that I am interested in specifical move not in what timeframe will that move happen,but for my trading this wasn't enought,something was missing so I added 1 more chart and my results improved but still not complete filled.Than i added another one to see whole story and implemented to my needs,and I am happy now!
So now I use 3 charts for 1 pair (much much better than 9 tf charts isn't it?)
Long term brick size 45 giving me overall picture of what currency pair doing!
Medium term brick size 20 which connecting longer vs.shorter understanding!
Short term brick size 8 to give entry and exit in the market!
So 9 charts of each currency pairs i narrowed in only 3 so 45 is similar like daily moves,20 is similar like 1h-4h and 8 chart could be link to 15 min chart so you see that I like to trade intraday!
BENEFITS:
1.CRB are much less sensitive than candles so if you see good opportunity it has more chance that you will catch move,but petientce is required for that offcourse;
2. It is easier and cleaner for our eyes than candles
DEFECTS:
1.You can miss move bacause it is not based on any timeframe so you don't get opportunity to enter again!
2. You need more screen time because you don't know when move can ocured!
Ok now we have charts so would be good to tell something about MM and pairs that I am using!
PAIRS!
1. Eur/Usd Eur/Aud Eur/Nzd Eur/Jpy Eur/Cad -euro sector
2. Gbp/Usd Gbp/Aud Gbp/Nzd Gbp/Jpy Gbp/Cad Gbp/Chf -cable sector
3. Aud/Cad Aud/Jpy Aud/Usd Aud/Nzd -aussie sector
4. Nzd/Usd Cad/Jpy Nzd/Jpy Usd/Jpy Usd/Cad -rest sector
It is 20 pairs and i put them in sectors so easier understanding!
Those who use offline charts know that metaquotes had awfull offer for offline so offcourse we cannot use many pairs because our charts would slow down and we cannot go into deep history so I hope one day metaquote will resolve this issuess,till now we must trade with what we have!
So every weekend i do analyse of 20 pairs and pick 5-7 best looking ones (that much i can follow without techicall problem on 2 monitors!)
HINT: is that you find best pair of every sector that you would follow + 1 or 2 more because you don't want to stuck in 2 similar pairs and lose twice!
HINT: everyday after trading day go throught all pairs maybe you want to change something over week!
MONEY MANAGEMENT!
After you have your pairs ready and you do your analyse on 45 and 20 chart you entering on 8 chart
Stop loss:
Stop loss is usually 20-30 pips depend on pair and my plan is to risk 1% to get 2% on each trade
HINT:you don't have to risk more because if you are right than PA will move in your favor,if you not 20-30 pips on 8 chart is enought,you will see throught time and in 80% of times it is on swing low or high
This is not set in the stone because I am still working on money management but for now it is this one
Take profit:
Tp is twice the stop loss so 1:2 risk reward ratio but it is good to use trailing stop so if your trade goes in your favor lets say 5 pips,you move your stop loss on -15 so you lose less simple as that
As we use momentum pa will move or would not so till now think that this MM is good
HINT:You don't need to force anything,be patience and % will come.Think like this if you have 7 trades per week,it is 28 trades per month so with only 50% strike rate you will earn 15% in month after compounding in few month you will be free!
On purpose I don't want to talk about more monthly 50% because consistency is important if you want to be good trader not 1 month 50% next -20%!
And if we use trailing that number would be ven higher so odds are in your favour (and hopefully you will have more than 50% strike rate as this strategy definately provide it)
If you are patientce and discipline enought to wait only A opportunities you need only 4 trades per week with 3 good ones and 1 bad with 20% monthly!
Those at expert level will have even more but one step at a time!
TRADING TIME:
I trade from Frankfurt open till London close sometimes 1 or 2 hours more but many time less because at that period market moves faster!
RULES OF SYSTEM:
It is hard for me to explain all this in first page but those who read Alien strategy know about rules and to other i advise to read it also before you come and trade CRB
We have better opportunities and not that good ones!
Throught time we will go with setups and because market repeat this over and over again it is up to you when you will learned it!
EXAMPLE OF 1 TRADE!
You were a great teacher for a lot of FF members.
