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The PriceBob Strategy

  • #101
  • Mar 11, 2025 10:34am Mar 11, 2025 10:34am
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  • #102
  • Mar 11, 2025 11:16am Mar 11, 2025 11:16am
Mebob 2/2 +20
Master your Mind,,,Master the Market
  • #103
  • Mar 11, 2025 11:27am Mar 11, 2025 11:27am
Quoting bluesteele
Mebob 2/2 +20
MEBOB range definitely holds weight. Three 5 minutes candles respecting the range in a row, only for the breakout candle to lead to a decent move.
  • #104
  • Mar 11, 2025 11:41am Mar 11, 2025 11:41am
Quoting MachineLearn
{quote} MEBOB range definitely holds weight. Three 5 minutes candles respecting the range in a row, only for the breakout candle to lead to a decent move.
And MeBob high marked the final point of resistance to the rally attempt as well.

Very small sample size (the thread is less than two weeks old) but so far, Rob Falk's MeBob has earned further consideration.

The MeBob review this evening will have several points of interest that need to be examined, imo.
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  • #105
  • Mar 11, 2025 11:54am Mar 11, 2025 11:54am
Fighting on daily low
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  • #106
  • Mar 11, 2025 12:05pm Mar 11, 2025 12:05pm
I posted this screenshot from Linda Raschke's Streetsmarts book in my journal a few weeks ago and it has relevance here.

1) MeBob is itself not an element of what is generally considered "technical analysis." The MeBob methodology is a precise set up that gets you into and out of the market quickly. It is a "surgical strike" methodology.

2) It is important initially to trade a new concept or patter on paper or with what Al Brooks calls the "Do Not Care" size. You must remove the psychological and emotional pressure of the possibility of losing money so that you can watch for and see the pattern over and over again so as to come to feel completely comfortable with it.

3) If MeBob doesn't make sense to you or you find yourself negatively disposed toward this type of method, don't trade it! If you don't have 100% confidence (and I would add "comfort") with the pattern, you will never be able to overcome the desire to abandon it during losing streaks. This is, imo, the key to the trading kingdom, and its realization is the heart of what in my journal I refer to as "the roulette epiphany."

4) All you need is one pattern to make a living day trading! That really is the ruth. I use one pattern on the NQ each day. Completely mechanical with zero discretion. That one pattern has made the past five months the most profitable of my trading career. That is in spite of the fact that I lost confidence in it temporarily as I was not prepared to muscle through its first losing streak. Thankfully, I did muscle through ultimately. One pattern is all you need. MeBob might be it for some of you! If it isn't, the exercise of trading MeBob, even in a sim account, for 20 days, is likely all you need to correct forever the habits of FOMO, over-trading, jumping the gun, etc. All the bad trading behaviors that lead almost always to big losses and blown accounts.
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  • #107
  • Mar 11, 2025 12:18pm Mar 11, 2025 12:18pm
Rob Falk referred to the MeBob bar as a "reference bar. It provides a defined range of price by which one can measure the movement of price throughout the day.

This section from Linda Raschke's eBook is, imo, of interest to us in that she too refers to the importance of "pivots" and points of reference.

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Life itself is a privilege, but to live life to the fullest is a choice
  • #108
  • Mar 11, 2025 12:47pm Mar 11, 2025 12:47pm
Quoting vidvad
Rob Falk referred to the MeBob bar as a "reference bar. It provides a defined range of price by which one can measure the movement of price throughout the day. This section from Linda Raschke's eBook is, imo, of interest to us in that she too refers to the importance of "pivots" and points of reference. {image} {image} {image} {image} {image}
Excellent content VidVad.. you're really highlighting some of the most important points of trading.

How refreshing to see a thread here at FF.... That is not the same old song and dance.

What's being shared here is far more than a mechanical method to trade the ES.. .. (combined with the roulette epiphany)

And man oh man.. I sure love Linda Bradford Raschke ..
Master your Mind,,,Master the Market
  • #109
  • Mar 11, 2025 1:43pm Mar 11, 2025 1:43pm
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These were my two entries today in my demo account, my management is to use 0.5% per trade and limit myself to 2 entries in case the price retraces to the MB candle.

I have a doubt, I see that at the moment the average movement in this strategy is 10 points, how much would those 10 points represent in pips? The same? It would be very helpful.

Thank you very much to all of you
  • #110
  • Mar 11, 2025 2:24pm Mar 11, 2025 2:24pm
Excellent thread. Well done vivvad for setting this up. I first came across this method through Tom Hougaard's website after trawling through the avid trader notes. Mechanical, rule based entries are what I like. Takes the mind out of the equation. I'm looking at other indices to see if there is any value in exploring other markets. I noted today that the range was strong resistance, but once broken, lead to a strong breakout. Maybe the reference zone forms some kind of daily reference zone/ area of interest. I'm sure in time as we trade it more we'll find a few worthy nuances.
  • #111
  • Mar 11, 2025 2:30pm Mar 11, 2025 2:30pm
Quoting fream1
These were my two entries today in my demo account, my management is to use 0.5% per trade and limit myself to 2 entries in case the price retraces to the MB candle. I have a doubt, I see that at the moment the average movement in this strategy is 10 points, how much would those 10 points represent in pips? The same? It would be very helpful. Thank you very much to all of you
Just add 10 points to your entry for a long, and subtract 10 points for a short.

For example, if your entry price was short at 5565.2, then your profit target is 5565.2 - 10.00 = 5555.2
Life itself is a privilege, but to live life to the fullest is a choice
  • #112
  • Mar 11, 2025 2:42pm Mar 11, 2025 2:42pm
Quoting Andy1trades
Excellent thread. Well done vivvad for setting this up. I first came across this method through Tom Hougaard's website after trawling through the avid trader notes. Mechanical, rule based entries are what I like. Takes the mind out of the equation. I'm looking at other indices to see if there is any value in exploring other markets. I noted today that the range was strong resistance, but once broken, lead to a strong breakout. Maybe the reference zone forms some kind of daily reference zone/ area of interest. I'm sure in time as we trade it more...
I was considering the same. NQ performed well today too
  • #113
  • Mar 11, 2025 3:21pm Mar 11, 2025 3:21pm
Quoting bluesteele
{quote} Excellent content VidVad.. you're really highlighting some of the most important points of trading. How refreshing to see a thread here at FF.... That is not the same old song and dance. What's being shared here is far more than a mechanical method to trade the ES.. .. (combined with the roulette epiphany) And man oh man.. I sure love Linda Bradford Raschke ..
LBR is old school, and so are we and so is this thread!

One effect the roulette epiphany had on me was that I immediately went to a method that was based just on M15 bars. And not only that, but the original roulette method was very much a fixed time bar method, and it remains nearly, though not entirely so.

I shed the MA's, used no oscillators, and I even removed the pivots, temporarily.

This was not an "anti-indicator" impulse, by any means. LBR herself is famous for her attachment to the 3/10 oscillator, keltner channels, and other popular indicators. It was more a desire on my part to "get back to basics" and to simplify the charts. I was for a time playing with the detrended oscillator, inspired by another excellent thread here at FF by IslandFX. But after a week or so, I removed that chart template from my workspeace.

I am not anti-indicator. But I am much more interested in using price bars themselves to signal entries, and fixed time bar methods like MeBob.
Life itself is a privilege, but to live life to the fullest is a choice
  • #114
  • Mar 11, 2025 3:58pm Mar 11, 2025 3:58pm
Quoting vidvad
{quote} LBR is old school, and so are we and so is this thread! One effect the roulette epiphany had on me was that I immediately went to a method that was based just on M15 bars. And not only that, but the original roulette method was very much a fixed time bar method, and it remains nearly, though not entirely so. I shed the MA's, used no oscillators, and I even removed the pivots, temporarily. This was not an "anti-indicator" impulse, by any means. LBR herself is famous for her attachment to the 3/10 oscillator, keltner channels, and other popular...
Back to Basics... Muscle Memory


As Linda Raschke said: 'All you need is one pattern to make a living.'

Or Bruce Lee: 'I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times.'

Mebob 3/3 today 30 pts.
Master your Mind,,,Master the Market
  • #115
  • Mar 11, 2025 4:00pm Mar 11, 2025 4:00pm
The nightly MeBob review. This one is worth watching in its entirety as there was an interesting piece of price action at the MeBob lows today after the first MeBob break, and while I was certain as it was happening that I wouldn't trade it as a MeBob entry, it really isn't as clear to me in terms of how to compose a rule that would let a new MeBobber readily recognize that that set up had consumed most of what could easonably have expected as far as hitting a fixed profit target.

It is, imo, the first wrinkle the market has thrown me regarding MeBob.

I'd love to hear what others think. Was it a proper MeBob set up? Was it not? Is vidvad smokin' crack again? Let me know what you think!

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Life itself is a privilege, but to live life to the fullest is a choice
  • #117
  • Mar 11, 2025 5:18pm Mar 11, 2025 5:18pm
Quoting vidvad
The nightly MeBob review. This one is worth watching in its entirety as there was an interesting piece of price action at the MeBob lows today after the first MeBob break, and while I was certain as it was happening that I wouldn't trade it as a MeBob entry, it really isn't as clear to me in terms of how to compose a rule that would let a new MeBobber readily recognize that that set up had consumed most of what could easonably have expected as far as hitting a fixed profit target. It is, imo, the first wrinkle the market has thrown me regarding...
It was a valid signal and don't think a rule is necessary. If your trading experience/skill/intuition can help you filter trades than power to you. You as a trader can carve some extra edge out of any system you use. However, I don't think we should start over fitting rules for every single market behavior. Chalk it up to experience, and as long as others stick to the rules they should be profitable with or without that experience, albeit maybe a little less.
  • #118
  • Mar 11, 2025 5:22pm Mar 11, 2025 5:22pm
Quoting tommy88bgo
Sorry for crashing in on your thread like this, but i see alotta skeptics here, and i might be able to clear things up. So, i never heard of this 8th bar method, but as Al Brooks explains in his books the 18 bar range is actually very reliable, and effective. I myself trade it all the time with good results (refer to some of my posts in the roadmap thread for examples). anyway here's all you need to know. {image} {image} {image} {image} {image}
How is the 18 bar range relative to the 8th bar range?

In your opinion, what's the takeaway here
  • #120
  • Mar 11, 2025 5:38pm Mar 11, 2025 5:38pm
Quoting tommy88bgo
Sorry for crashing in on your thread like this, but i see alotta skeptics here, and i might be able to clear things up. So, i never heard of this 8th bar method, but as Al Brooks explains in his books the 18 bar range is actually very reliable, and effective. I myself trade it all the time with good results (refer to some of my posts in the roadmap thread for examples). anyway here's all you need to know. {image} {image} {image} {image} {image}
All good statistics, but, imho, far from "all you need to know." These are statistics but not set ups. The MeBob methodology has nothing do with gaming the probability that a final HOD or LOD has been printed. As a student of Brooks myself, his statistics in these slides is indeed interesting, but one could nonetheless trade the MeBob method quite successfully without ever having these statistics brought to his attention.

The value of the Mebob is it provides a reference range outside of the opening volatility and after 99% of post-open news dumps by which a trader can identify good times to enter, i.e. it provides set ups, not statistics.

When it comes to Al Brooks, imo, if there is anything that is "all you need," it is in the 13 videos those compose his "Charting Analysis" section of the course. My favorite are these three:
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