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The PriceBob Strategy

  • #141
  • Mar 12, 2025 9:33am Mar 12, 2025 9:33am
Another great morning for MEBOB so far
  • #142
  • Mar 12, 2025 9:34am Mar 12, 2025 9:34am
Wr r on trade . One trade closed for 1:1
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  • #143
  • Mar 12, 2025 9:39am Mar 12, 2025 9:39am
Hello friends, this was my entry today respecting the 10 points, then there was a re-entry that I did not take.
I will continue with my 20 days test with this strategy and then I will carry it out in a prop firm.
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  • #144
  • Mar 12, 2025 9:46am Mar 12, 2025 9:46am
Quoting MachineLearn
{quote} I was considering the same. NQ performed well today too
Indeed. Let's also consider re-entries. I closed out a 10point win on ES today, then went back in for another short. I was mindful of the Al Brooks wedge forming and the double bottom though so closed out early.
  • #146
  • Mar 12, 2025 9:53am Mar 12, 2025 9:53am
I took the first entry for +10. I initially decided that since the 10:30 AM bar didn't close inside the MeBob range that it was not a second signal. And then as I re-read the MeBob rules and rethought through it, I decided that going forward, I will consider such price action to be second entries. My only restriction on this would be that MeBob is one trader per bar. So the first MeBob trade was entered on the open of the 10:25 bar, and the take profit filled during that bar as well. Although that bar did trade into the MeBob range and closed below, it would not, imo, qualiify for a second MeBob entry. One trader per bar.

The second MeBob trade, which I didn't take, is a new bar, so it should be considered a second independent signal.

Kudos to anyone who caught either or both of these trades!

Here is my live trading video from today where I discuss both the clarification regarding second signals, as well as give a few thoughts on the future introduction of additional price action elements. We are on an extraordinarily good run with MeBob. We haven't needed any additional defined set ups. However, the day will come where we get a few MeBob losses, and it will be good to have one or two solid price action set ups to add to the trading plan.

I want to select only price action set ups that are visually easy to identify in real time. Furthermore, whatever set ups I add to the MeBob Trading Plan will be such that the entry orders will be based on closed candles, using either buy or sell stop entries above/below the signal bar high/low, or enter at the market when the bar closes as we do with MeBob.

Inserted Video
Life itself is a privilege, but to live life to the fullest is a choice
  • #147
  • Mar 12, 2025 9:58am Mar 12, 2025 9:58am
Quoting MachineLearn
Another great morning for MEBOB so far
A very relaxing way to approach aa business that is often far from relaxing!

Quoting BDfx77
Wr r on trade . One trade closed for 1:1
Kudos!

Quoting fream1
Hello friends, this was my entry today respecting the 10 points, then there was a re-entry that I did not take. I will continue with my 20 days test with this strategy and then I will carry it out in a prop firm.{image}
Now that is what I love to see and your approach is exactly what I'd hope others will follow. Do 20 days in sim test account. By that time, you will be skilled at following the rules, and you will likely develop the ability to trade through the losses that will come.

Stick through the first losing streak, whenever it comes, and your performance will rocket past 99.99% of the 1, 072, 526 traders who are registered members of the FF community!
Life itself is a privilege, but to live life to the fullest is a choice
  • #149
  • Mar 12, 2025 10:08am Mar 12, 2025 10:08am
Quoting driven18
My "Edge" is in statistics, will be doing 100 forward trades and compile statistics on MM, i.e. which method of Entry, SL and TP is more advantageous. Per my testing, I am not in favor of taking 2nd entries for the same direction. I believe the momentum of the trade is gone after each side entry. One caveat, perhaps it may work for 10 points, but my TP is based on volatility and at times, TP is much larger the TP = 10.
Anyone can set up whatever money management they wish to set up.

We've discussed the need to set an ATR function moving forward so that the take profit can be set to match volatility. At times 10 points is perfect, and others it may be far too much.

Anyone who wants to use MeBob as a trend following strategy may do so. Today, for example, is the type of day Rob Falk wanted to capture with this strategy. ES is now down more than 40 points from my short entry. I know myself well enough to know that while I'd love to grab 40 points of profit on a single trade, I am more likely to accumulate 40 points of profit over the course of 4 or more trades, and I'll be more relaxed doing it that way.

For most traders following this thread, I think the rules and money management I am using is likely going to yield the best results in terms of building patience, discipline, and the ability to follow a trading plan without hesitation or fear, and thus achieving what Mark Douglas calls "trading from a carefree state of mind."
Life itself is a privilege, but to live life to the fullest is a choice
  • #150
  • Mar 12, 2025 10:17am Mar 12, 2025 10:17am
Nasdaq Mebob. Worries me. So far , if you only need ten points to be happy, you may have a hard time holding this beast back. The SP500 is usually more sedate and less terrifying when watching your profit/loss in real time. Must go wrong sometime soon? But there is enough loot, one feels, to ride out a few losers in the future?
I am not a great or articulate trader but some tolerate me for brightening up their day.
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every Saint has a past. Every Sinner has a Future
  • #151
  • Mar 12, 2025 10:20am Mar 12, 2025 10:20am
Quoting turnip15
Nasdaq Mebob. Worries me. So far , if you only need ten points to be happy, you may have a hard time holding this beast back. The SP500 is usually more sedate and less terrifying when watching your profit/loss in real time. Must go wrong sometime soon? But there is enough loot, one feels, to ride out a few losers in the future? I am not a great or articulate trader but some tolerate me for brightening up their day. {image}
The SP500 for comparison:
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every Saint has a past. Every Sinner has a Future
  • #153
  • Mar 12, 2025 10:26am Mar 12, 2025 10:26am
Quoting Andy1trades
{quote} Indeed. Let's also consider re-entries. I closed out a 10point win on ES today, then went back in for another short. I was mindful of the Al Brooks wedge forming and the double bottom though so closed out early.
Well done. Consider that if you can achieve tenpoints on one trade it might be better to trade with more contracts than seeking more points via more entries.
every Saint has a past. Every Sinner has a Future
  • #154
  • Mar 12, 2025 10:34am Mar 12, 2025 10:34am
Quoting bluesteele
{quote} https://www.forexfactory.com/thread/...8#post15171648 Hi Tommy, Many of us here are well aware of Al Brooks and the 18 bar probabilitys. Sort of Apples and Oranges tho. We all know there are many ways to trade the markets and my suggestion is always this if it's working for you...keep on doing it ! Congrats... But never discount others knowledge and experience as there is always something to learn from everyone Btw personally I love roadmap I've traded it for years as well as Al Brooks PA methods. I've developed...
What some people forget in their blinkered outlook is that people, myself included, welcome an approach that requires self discipline and reduced overtrading. I have my own approach but Vids idea works brilliantly as an overlay with my own Road map. Pre -market analysis, then Mebob drawn up and then I can sit and wait. Simple is good but I won't shout if people disagree with me.
every Saint has a past. Every Sinner has a Future
  • #155
  • Mar 12, 2025 10:37am Mar 12, 2025 10:37am
Quoting driven18
{quote} Mindfuck(Fear and Greed) will come in when there are inevitable losses. I like to compensate those losses with larger TP targets, as per my methodologies. That what makes my mind "carefree state of mind."
I was playing around with this concept of larger take profits but ultimately what I settled on atm is exiting the market after two losses.

I believe there's enough edge to be profitable with a one-to-one rr. From my personal experience and back testing I would say that MB should cover a 51% WR.
  • #157
  • Mar 12, 2025 11:05am Mar 12, 2025 11:05am
Quoting turnip15
{quote} Well done. Consider that if you can achieve tenpoints on one trade it might be better to trade with more contracts than seeking more points via more entries.
I agree 100% with this though, tulip, and indeed it is the way in which I intend to grow my trading account this year. You don't need to trade more often, and you do not need to trade more volatile instruments.

Just trading the ES, if you can average 5 points net per day (so we look for 10+ points per day, but accounting for inevitable losing days) we average 5 points. If you start with $2000 and max out at 10 ES contracts (starting position size = 3 micros), using a 10 point average stop loss per trade, and risking an average of 3% of equity per trade, that $2000 will grow to nearly $250,000 in the first full year.

Now, you start year two with $250,000, and everything remains the same: end of year two your account equity will have grown to $940,000. Never trading more than 10 ES, and your risk per trade will have dropped to about .6% of account equity per trade.

However. the ES is big market. You can safely enter with more than 10 contracts without experiencing adverse slippage. Let's say that in year two, you will increase you max position size to 25 ES, again, max risk always limited to no more than 3% per trade. Now your year two total is $1,9 Million USD.

Find a method you can trade day after day without hesitation or fear, keeping risk at a level that allows you always to maintain a care free state of mind, and then simply increase position size.

If volatility contracts, and you now average only 3 points per day, but your max risk per trade is now 5 points instead of 10, the numbers will still work out.

Note that the above examples are using a $2 risk for each expected $1 profit.
Life itself is a privilege, but to live life to the fullest is a choice
  • #158
  • Mar 12, 2025 11:08am Mar 12, 2025 11:08am
Quoting driven18
{quote} Yes, personal experience with Entries, MM and MindFuck is for sure where its at. I want to show you my trading on Monday March 10, total different technique, but I am making my point about 2 losing trades and finish trading. Do not dismiss the idea that you must take every signal your technique gives you. 4 losing trades in a row and then Bang! I will take this post down if vidvad ask me too.
We do want to keep this thread focused on MeBob trader experiences and results and the MeBob community.
Life itself is a privilege, but to live life to the fullest is a choice
  • #159
  • Mar 12, 2025 11:10am Mar 12, 2025 11:10am
Hands off results since 17/2-25, max 5 trades per day each direction, RR 1:2, no BE, 1% risk on a 10000 Acc. (and a few extra filters)

PC

Last chart: 1:1 RR, only one long, one short per day.
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Less is more...
  • #160
  • Mar 12, 2025 11:14am Mar 12, 2025 11:14am
Quoting pipcruiser
Hands off results since 17/2-25, max 5 trades per day each direction, RR 1:2, no BE, 1% risk on a 10000 Acc. (and a few extra filters) PC
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Life itself is a privilege, but to live life to the fullest is a choice
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