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  • #1,501
  • Apr 3, 2024 7:52am Apr 3, 2024 7:52am
Quoting Inthebox
{quote} {quote} ta-da. the target made at the beginning of the week has been hit. if there is no jpy intervention, the next target will be the week high. the low of the week has been set. {image}
what does mean wrb on your chart?
  • #1,502
  • Apr 3, 2024 7:53am Apr 3, 2024 7:53am
Quoting Merka
{quote} what does mean wrb on your chart?
wide range bar
https://www.forexfactory.com/thread/...2#post14815542
ITB - Seeing Orderliness amongst 'Randomness'
  • #1,503
  • Edited 8:13am Apr 3, 2024 8:02am | Edited 8:13am
Hey everyone,

So, I've been testing this strategy for a month (bear in mind that I am a complete beginner). During the first month I achieved +19R overall (55 trades). I always set my SL to BE when the price is in the middle between the entry point and the TP. However, I kept journaling all my trades and noticed that moving my SL to BE when the price moves to +1R would have brought me +25R (maybe even more because I can't trace a dozen negatvie trades properly).

So, I had 10 profitable deals and 45 losses/BEs.

I'm not changing anything for the upcoming month, except the stop loss game - I think I will move it to BE when I reach +1R.

I believe that many of you are tracking your trades. What's your success rate with this strategy and did you add any rules of your own?
  • #1,504
  • Apr 3, 2024 8:19am Apr 3, 2024 8:19am
Quoting Evaldas321
Hey everyone, So, I've been testing this strategy for a month (bear in mind that I am a complete beginner). During the first month I achieved +19R overall (55 trades). I always set my SL to BE when the price is in the middle between the entry point and the TP. However, I kept journaling all my trades and noticed that moving my SL to BE when the price moves to +1R would have brought me +25R (maybe even more because I can't trace a dozen trades properly). So, I had 10 profitable deals and 45 losses/BEs. I'm not changing anything for the upcoming month,...
do not classify BEs together with losses, this will affect psychologically. even 1 pip profit is a win.
do not compare with others as each risk adverse is different, also the same with entry and exit. all different greed and fear.
you have to work out your very own way to trade which you are comfortable with after proficiency on the basics.
ITB - Seeing Orderliness amongst 'Randomness'
  • #1,505
  • Apr 3, 2024 9:29am Apr 3, 2024 9:29am
Quoting Inthebox
{quote} {quote} ta-da. the target made at the beginning of the week has been hit. if there is no jpy intervention, the next target will be the week high. the low of the week has been set. {image}
wow. that was fast.
aj week high target hit.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 25 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #1,506
  • Apr 3, 2024 8:35pm Apr 3, 2024 8:35pm
Quoting emmanuel7788
{quote} to learn some of the challenges with wide range bars you will need to take a trip back to May 2014 link below: https://www.forexfactory.com/thread/...62#post7445362 download the tutorial pdf in that post. like all things in trading forex, nothing works is 100%. but here we are day trading, we get in and out within the same market session therefore those WRB in lower timeframes can mean a lot different things. ...
Wide Range Bar for 4H swing traders,

Example AJ Apr03

+7R and still going ....

Attached Image (click to enlarge)
Click to Enlarge Name: AJ Apr03 H4 7R and still going 4-4-2024 9-30-46 am.png Size: 25 KB



...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,507
  • Apr 3, 2024 8:51pm Apr 3, 2024 8:51pm
Quoting Evaldas321
Hey everyone, So, I've been testing this strategy for a month (bear in mind that I am a complete beginner). During the first month I achieved +19R overall (55 trades). I always set my SL to BE when the price is in the middle between the entry point and the TP. However, I kept journaling all my trades and noticed that moving my SL to BE when the price moves to +1R would have brought me +25R (maybe even more because I can't trace a dozen negatvie trades properly). So, I had 10 profitable deals and 45 losses/BEs. I'm not changing anything...

"I always set my SL to BE when the price is in the middle between the entry point and the TP."

In the percentage %Risk 'R' model with Position Sizing what is your TP for your trades.

IF, your TP is set at +7.5R and you move when price is middle between Entry Price and Take Profit, then your rule is to move SL to BE when price closed above 50% of 7.5R i.e. +3.25R level.
This can be automated using the expert advisor by the OP in post #324.

Attached Image (click to enlarge)
Click to Enlarge Name: BUY EP SL TP.png Size: 2 KB

I stopped moving my SL to BE and just let the trade run its course with my TP set to +5R.

BTW, which pairs are those 55 trades?
and in your +19R profit, how many were +2R and above trades

...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,508
  • Apr 4, 2024 1:37am Apr 4, 2024 1:37am
Quoting emmanuel7788
{quote} "I always set my SL to BE when the price is in the middle between the entry point and the TP." In the percentage %Risk 'R' model with Position Sizing what is your TP for your trades. IF, your TP is set at +7.5R and you move when price is middle between Entry Price and Take Profit, then your rule is to move SL to BE when price closed above 50% of 7.5R i.e. +3.25R level. This can be automated using the expert advisor by the OP in post #324. {image} I stopped moving my SL to BE and just let the trade run its course with my TP set to +5R. BTW,...
Hey,

Thanks for your comment about the expert advisor, I didn't know that such tool exists. It would save me a ton of time.

I am trading during London and NY opens, and pairs are EURGPB, EURJPY, USDCHF, NZDUSD, EURUSD, USDJPY, GBPUSD, AUDUSD.

All trades ranged from 4R to 7R, depending on how far the next SNR was (mostly 5R).
  • #1,509
  • Apr 4, 2024 1:49am Apr 4, 2024 1:49am
Quoting emmanuel7788
{quote} Wide Range Bar for 4H swing traders, Example AJ Apr03 +7R and still going .... {image} ...
Hi emmanuel
in the process of resding the pdf,just curious on this trade for A/J did u take the trade because price was approaching the FVG? and/or were there other factors?
Also i noticed that WRB indi that u have would it be possible for you to share that or tell me where you got it from ? the one i have doesnt work too well the gaps dissappear when touched thnk you
Cl76
  • #1,510
  • Apr 4, 2024 4:57pm Apr 4, 2024 4:57pm
Have't seen Rob post lately. Anyone know how is he doing? Just a bit worry about his health condition.
  • #1,511
  • Apr 4, 2024 5:40pm Apr 4, 2024 5:40pm
New to the thread but I've been working on including HTF SnR zones lately and it's been working well. Fascinating to read through how others are getting on with a similar strategy. I really like my charts nice and clean and it feels a bit slower paced trading this way too which I also prefer!
  • #1,512
  • Apr 4, 2024 8:17pm Apr 4, 2024 8:17pm
Quoting Inthebox
{quote} {quote} ta-da. the target made at the beginning of the week has been hit. if there is no jpy intervention, the next target will be the week high. the low of the week has been set. {image}
how do u identify liquidity sweep?
  • #1,513
  • Apr 4, 2024 9:51pm Apr 4, 2024 9:51pm
Having traded for over 20 plus years your system is basically what I use,all indicators lag to me price is king. Very good of yourself to show your system and all free, do not let the knockers get you down.SR and watching news closely gives one a huge advantage.Some charts I see people have more indicators that just all they do is blur the reality of the price action, total confusion, again well done for a good simple system, thank you.
  • #1,514
  • Apr 4, 2024 10:58pm Apr 4, 2024 10:58pm
Quoting vinesh1
{quote} how do u identify liquidity sweep?
Google is your friend.
Inserted Video
  • #1,515
  • Apr 4, 2024 10:59pm Apr 4, 2024 10:59pm
Quoting vinesh1
{quote} how do u identify liquidity sweep?
Google is your friend.
Inserted Video
  • #1,516
  • Apr 4, 2024 11:26pm Apr 4, 2024 11:26pm
Quoting vinesh1
{quote} how do u identify liquidity sweep?
liquidity can be found around:
- relatively equal highs and lows
- the highs and lows of sessions, day, week, month

for a high probability trade, align the entry time frame direction with the direction of the higher time frames.
ITB - Seeing Orderliness amongst 'Randomness'
  • #1,517
  • Apr 5, 2024 1:16am Apr 5, 2024 1:16am
Quoting mallee
{quote} Google is your friend. https://www.youtube.com/watch?v=0UTvF4SWdQM
We can close FF we have Google
What is the point of different forums when we have Google ?
I might be wrong , I have been wrong before
  • #1,518
  • Apr 5, 2024 1:38am Apr 5, 2024 1:38am
Quoting Mandariin
{quote} We can close FF we have Google What is the point of different forums when we have Google ?
In a word, a forum is more social than Google.

Success = Practice + Patience + Persistence
  • #1,519
  • Apr 5, 2024 1:43am Apr 5, 2024 1:43am
Quoting Mandariin
{quote} We can close FF we have Google What is the point of different forums when we have Google ?
A little tongue in cheek mate, but just a gentle hint to do a little research before posting a Q.
  • #1,520
  • Apr 5, 2024 1:47am Apr 5, 2024 1:47am
eurusd 1 min
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