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Trading with range bars ichimoku cloud & awesome oscillator

  • #3,101
  • Jun 1, 2018 6:45pm Jun 1, 2018 6:45pm
Quoting RisingSun
{quote} Interesting! Normal range bar indi/ea creates many bars of 5 pips at news spike time but yours look better in the sense that it is visually easy to follow and trade. Is that an indicator or an EA? Is that something you don't want to share? RS
Its an EA.I have attached it.
Attached File(s)
File Type: ex4 Range Bars.ex4   15 KB | 662 downloads
  • #3,102
  • Jun 1, 2018 6:47pm Jun 1, 2018 6:47pm
Quoting Patje
3 trades on E/J today... {image}
Well done! That long nice trend-line shows you really are following in the footsteps of you know who
  • #3,103
  • Jun 2, 2018 12:47am Jun 2, 2018 12:47am
Quoting ichikuse
{quote} Well done! That long nice trend-line shows you really are following in the footsteps of you know who
Thanks for the compliment, means a lot to me because after Rocky your the best trader on this thread ...
  • #3,104
  • Jun 2, 2018 10:47am Jun 2, 2018 10:47am
Goodwill ev.

1. Power Indicator(Optional)
2. AO 0 level breakout
3. Check recent SR levels
4. Draw Trendline depending on trend or range from SR recent levels.
5. Entry: Trade the trendline/cloud breakout.
6. Exit: AO 0 level break, Candle close inside cloud etc

Have I got it right?
Trade-Emperor
  • #3,105
  • Jun 2, 2018 11:22am Jun 2, 2018 11:22am
Quoting Helperer
Goodwill ev. 1. Power Indicator(Optional) 2. AO 0 level breakout 3. Check recent SR levels 4. Draw Trendline depending on trend or range from SR recent levels. 5. Entry: Trade the trendline/cloud breakout. 6. Exit: AO 0 level break, Candle close inside cloud etc Have I got it right?
There is a file at the paperclip where it is in writing.... And a point of advice study all the charts from Rocky... You can learn a lot from it...
  • #3,106
  • Jun 2, 2018 12:17pm Jun 2, 2018 12:17pm
Quoting Helperer
Goodwill ev. 1. Power Indicator(Optional) 2. AO 0 level breakout 3. Check recent SR levels 4. Draw Trendline depending on trend or range from SR recent levels. 5. Entry: Trade the trendline/cloud breakout. 6. Exit: AO 0 level break, Candle close inside cloud etc Have I got it right?
See post #2287
  • #3,107
  • Jun 4, 2018 12:10am Jun 4, 2018 12:10am
Quoting Patje
{quote} Thanks for the compliment, means a lot to me because after Rocky your the best trader on this thread ...
Hi thanks for the comment but I certainly am not the best trader after rocky.I am probably one of the worst traders at the moment.There are a lot of better traders on this thread but most just view the thread and sometimes post and sometimes do not.The reason i like to post a lot and to respond a lot is because it is painful to see people dedicate so much to trading but spend years and years hitting and missing.Also, it is impossible for me to see someone asking for help or making errors and I just watch without trying to lend a helping hand.I have plenty of losing trades and winning trades but I post winning trades only not because I don’t lose but because they help us more.Maybe I should also post some of the losing trades.Moreover, most of my losing trades are because of silly errors that I need to get rid of.
  • #3,108
  • Jun 4, 2018 3:18am Jun 4, 2018 3:18am
I must admit that Rocky has a good method here. Patience seems to be key and the fewer rules/lines the better. Not everyone is a winner of course but enough to be confident when going forward. That's my story and i am sticking to it :-)
Edit: Should have added that entry was after a small pullback after price dropped through cloud around my horizontal line which was a best guess at support/resistance.
Attached Image (click to enlarge)
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every Saint has a past. Every Sinner has a Future
  • #3,109
  • Jun 4, 2018 4:39am Jun 4, 2018 4:39am
Just closed a GBPJPY long trade for 41 pips.Closed it because price was at resistance...Looks bullish though after better than expected construction PMI.
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  • #3,110
  • Jun 4, 2018 4:48am Jun 4, 2018 4:48am
Quoting turnip15
I must admit that Rocky has a good method here. Patience seems to be key and the fewer rules/lines the better. Not everyone is a winner of course but enough to be confident when going forward. That's my story and i am sticking to it :-) Edit: Should have added that entry was after a small pullback after price dropped through cloud around my horizontal line which was a best guess at support/resistance. {image}
I agree.Discipline is the key and whenever you see a VALID entry take it, dont let your mind talk you out of it.
  • #3,111
  • Jun 4, 2018 1:02pm Jun 4, 2018 1:02pm
Quoting ichikuse
{quote} Hi thanks for the comment but I certainly am not the best trader after rocky.I am probably one of the worst traders at the moment.There are a lot of better traders on this thread but most just view the thread and sometimes post and sometimes do not.The reason i like to post a lot and to respond a lot is because it is painful to see people dedicate so much to trading but spend years and years hitting and missing.Also, it is impossible for me to see someone asking for help or making errors and I just watch without trying to lend a helping...
I think we can also learn much from losing trades... If not more. I enjoy reading your posts so please continue .... Have a nice evening all of you
  • #3,112
  • Edited 11:37pm Jun 4, 2018 10:44pm | Edited 11:37pm
Quoting Patje
{quote} There is a file at the paperclip where it is in writing.... And a point of advice study all the charts from Rocky... You can learn a lot from it...
Hey thanks for the reply Patje. Yes I'm checking everything out one by one. A little hard for me cause I'm not as good in taking things in as I thought I was. Got to jog this brain up a bit.
Trade-Emperor
  • #3,113
  • Jun 4, 2018 10:55pm Jun 4, 2018 10:55pm
Quoting turnip15
I must admit that Rocky has a good method here. Patience seems to be key and the fewer rules/lines the better. Not everyone is a winner of course but enough to be confident when going forward. That's my story and i am sticking to it :-) Edit: Should have added that entry was after a small pullback after price dropped through cloud around my horizontal line which was a best guess at support/resistance. {image}
Hi turnip

If you have to choose 2 currencies which one will you follow ?
trying to make everyday the best risk/reward decisions possible
  • #3,114
  • Jun 4, 2018 11:30pm Jun 4, 2018 11:30pm
Will make an effort to post my losing trades as well. Maybe embarassment plays a part here. As a trader I am not yet consistently profitable, this is still the goal as I move forward. Ichikuse.... love your passion and commentary, you will make it. Encourages the rest of us as well. The other thing I will say is you do need to trade in those golden hours... two to three hours after the opening or include the hour before as well. This is one thing that Rockypoint is very consistent in and always makes comment on as to how his trading went and what time he started. Not always easy granted.
Here's to trading success for all.
  • #3,115
  • Jun 4, 2018 11:30pm Jun 4, 2018 11:30pm
Quoting dwe213
{quote} See post #2287
Wow. Really saved so much time with those charts. I use 1M for as accurate an entry I can get. Thanks dwe213.
Trade-Emperor
  • #3,116
  • Jun 5, 2018 4:05am Jun 5, 2018 4:05am
Quoting slowbrain
{quote} Hi turnip If you have to choose 2 currencies which one will you follow ?
Just seen this. I follow the E/J simply because it does tend to move well enough. And keep an eye on the pound. NO real reason though except others ( Billy et al) continually use them. But I stick to one E/J simply because I can give it full focus. You young people might watch more than one. Rocky tells people to look for nice price action, ignore ugly, meaning price that flows. If it consolidates then draw in those lines and wait for a break. Rocky ( like Billy) has simple rules and few of them thus are easy to follow for me. But waiting is a valuable tool - you don't have to be in a trade. But remember, I too, am new to trading - Billy, Rocky and others are the real battle scarred veterans who know what they are talking about.
every Saint has a past. Every Sinner has a Future
  • #3,117
  • Jun 5, 2018 5:31am Jun 5, 2018 5:31am
Closed a usdcad long trade for 21 pips.Very quick.All of as sudden CAD started falling.Could be the trade wars among others.Oil has also been falling and could be the cause as well..Closed the trade at some serious resistance.
I would have loved to enter earlier but i was out of office at the time.
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  • #3,118
  • Jun 5, 2018 5:33am Jun 5, 2018 5:33am
Quoting ichikuse
{quote} Hi thanks for the comment but I certainly am not the best trader after rocky.I am probably one of the worst traders at the moment.There are a lot of better traders on this thread but most just view the thread and sometimes post and sometimes do not.The reason i like to post a lot and to respond a lot is because it is painful to see people dedicate so much to trading but spend years and years hitting and missing.Also, it is impossible for me to see someone asking for help or making errors and I just watch without trying to lend a helping...
EDIT: I need to be more optimistic than to call myself one of the worst .Its better to say i still need to fix a lot and i am still learning a lot!
  • #3,119
  • Jun 5, 2018 6:21am Jun 5, 2018 6:21am
Quoting alcol
Will make an effort to post my losing trades as well. Maybe embarassment plays a part here. As a trader I am not yet consistently profitable, this is still the goal as I move forward. Ichikuse.... love your passion and commentary, you will make it. Encourages the rest of us as well. The other thing I will say is you do need to trade in those golden hours... two to three hours after the opening or include the hour before as well. This is one thing that Rockypoint is very consistent in and always makes comment on as to how his trading went and what...
Thanks Alcol.I just want to share something that people dont dwell on a lot.Something that has really helped me.It is important to have a trade journal where you post every trade and comment on whether it was a bad trade or not.Always note your feelings when you trade.Are you panicking,nervous or relaxed? The goal is to be relaxed.After reading Mark Douglas i must admit that i am not as scared as i was before although i still need to improve LOT.I have also realised that its hard to make it if all we do is grab ten pips and run.We need to really let our trades run.I must say I have been encouraged a lot by how RP does it, moving the SL to BE after 15 pips.Now i do it all the time and when i move a SL to BE i feel victorious because NOW,realistically there is no way the trade will result in a loss.

One more thing i learnt from Mark Douglas which i mentioned before.Let us understand that the market is not an enemy.Until we grasp that we will always think the market is out to get us.Granted, there are reportedly traders who can spike price to fool other traders but they can only do so much.The market is just responding to what is happening in the politics,economy etc.The mentality of beating the market subconsciously works against us because we always think trading is a dog fight thats why many traders grab 5 pips,10 pips and run as fast as they can(MYSELF INCLUDED).Yet there are some who get 100 pips,some 250 pips etc in one trade.Lets aim to be like pros.

Another author said do not focus on making profit.Focus on trading flawlessly.Focus on eliminating errors and the money will take care of itself.
I believed a professional trader means someone working for big banks but this author changed my thinking.He said a professional trader is someone who sticks by his rules no matter what.If you always break rules, you are not a professional trader yet.Sadly i am not one yet but i try hard to be...

System hopping is not the answer.Stick to one system until you are profitable.The same author said the brain begins to familiarise the system you are using and when you change to another system, your brain needs to start adapting that.This is why many systems can confuse us.For example, you are using 10ema,20 ema,50 ema.You chuck that out and now use 55 ema,100 ema,200 ema.More often than not you will get confused.I am not saying you cant use many systems.You can if you reach a certain level of professionalism like RP who is already very profitable, but while learning to be profitable, let us stick to one system please.

If at all you look for another system, its better to get a system that is closely related to your current one.RP is an example.All the systems i have seen him use are based on range bars which makes him visualise all of them and incorporate them seamlessly.It would be another story if RP also head a fibonacci system with gartley indicators etc....very difficult systems to compliment one another.

Lastly i want to share the 80/20 rule or pareto principle.In short it says most of the results in any situation are determined by a small number of causes.That is, 20 percent of outcomes come from 20 percent inputs.For example, when there is a war, the war is not caused by a lot of people, just few people, if not one.

So in trading, our many losses are caused by very very few things.The losses are big but the causes are few.For example, most of our losses are because we simply dont draw a trendline or support and resistance line like RP, or maybe because we trade every signal while ignoring divergence etc, or maybe until we are very good traders all we need is to trade with the trend by simply looking for longs when price is above a certain moving average and shorts when price is below a certain moving average, or maybe all we need to do is have a piece of paper and when a trade setup shows up, before you take it, tick if it meets your criteria such as full-bar break of trendline/S/R line you have drawn.

Believe me its only 1,2 or maybe 3 things you just need to fix to be profitable.

AND NOW FOR THE FINAL LINE:ALTHOUGH I WROTE ALL THE ABOVE, I AM STILL FINDING IT HARD TO BE DISCIPLINED ENOUGH TO FOLLOW THAT BUT I AM TRYING HARD.

NB:TRADING IS A GAME OF EMOTIONS.UNTIL WE MASTER OUR EMOTIONS, IT WILL BE HARD.UNTIL WE MASTER OUR EMOTIONS,WE WILL THINK THE UP AND DOWN TICKS ARE AN ENEMY NO WONDER WE REVENGE TRADE AT TIMES TO ATTACK THE MARKET YET THE MARKET IS A COLLECTION OF MILLIONS OF INDIVIDUALS...WHICH MAKES IT NOT VERY LOGICAL TO SEEK REVENGE SO WHEN YOU LOSE AND START TO REVENGE, STOP AND THINK.TO WHOM AM I DIRECTING THE REVENGE? IT COULD BE TO RP,ALCOL,BILL GATES,TURNIP,DWE,PROFITFARMER, STANDARD BANK,WARREN BUFFET...ETC ANYONE WHO IS TRADING...BECAUSE THEY MAKE UP THE MARKET...EVEN YOUR GRANDMOTHER MAKES UP THE MARKET SO DONT REVENGE IT DOESNT MAKE SENSE
  • #3,120
  • Jun 5, 2018 10:24am Jun 5, 2018 10:24am
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