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The PriceBob Strategy

  • #201
  • Edited 12:59pm Mar 13, 2025 12:46pm | Edited 12:59pm
Quoting turnip15
SP500 and Nasdaq both gave two basic Mebob trades that worked out within a two hour trading slot for my 10 points each. {image} {image}
"Coffee and MeBob," or "MeBob in the Morning," or, "Your Morning MeBob."

It seems as though that 9:30 to 11:30 is the MeBob Golden time. Well, 10:05 to 11:30.

I saw your post earlier, and I think your idea about a UK morning MeBob is a good one. Try one reference bar for a few weeks, accumulate at least 20 trades. That is probably all you need to determine if you're on the right reference bar or not.
Life itself is a privilege, but to live life to the fullest is a choice
  • #202
  • Mar 13, 2025 2:08pm Mar 13, 2025 2:08pm
Quoting vidvad
{quote} That's the sort of thinking everyone is told to get into. It's a trap. https://www.youtube.com/watch?v=Bm7k...elshStrategies
This is one of the most enlightening videos I've seen since I've been doing this. Since I started (2022) there is how an obligation that the R:R must be 2:1, 3:1 and even 5:1.
I know it will sound a bit “cliché” to talk about warren buffet but the example he uses about his ratios is extremely enlightening for those of us who learned and above all “believed” that the ratios should be greater than 1:1.

if you are in a situation similar to mine and you learned that your ratios should be 2:1 or more, please watch this video, I can assure you it will change your perspective completely, listen to what he says and see the statistics he presents.

Thank you vidvad for sharing this with us
  • #203
  • Mar 13, 2025 4:01pm Mar 13, 2025 4:01pm
Nightly MeBob review. MeBob traders who trade the ES would have made a $1000 gross profit using this strategy today.

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Life itself is a privilege, but to live life to the fullest is a choice
  • #204
  • Edited 5:00pm Mar 13, 2025 4:48pm | Edited 5:00pm
Quoting vidvad
Nightly MeBob review. MeBob traders who trade the ES would have made a $1000 gross profit using this strategy today. https://youtu.be/vwzuXQBujlE
Good stuff! Lots of validity to the risk conversation*

Another point of interest for me today was the behavior of price inside the range . Five or six candles consolidating inside of the MEBOB, and price only breaking out with a major move when it finally closed outside of the range. Something we're seeing over and over, and I like it.
  • #205
  • Mar 13, 2025 4:54pm Mar 13, 2025 4:54pm
Quoting MachineLearn
{quote} Good stuff! Lots of validity to the risk construction. Another point of interest for me today was the behavior of price inside the range . Five or six candles consolidating inside of the MEBOB, and price only breaking out with a major move when it finally closed outside of the range. Something we're seeing over and over, and I like it.
Me too!

Hopefully I kept it short enough for you lol

I'm going to keep the nightly reviews to 10 to 15 minutes tops.
Life itself is a privilege, but to live life to the fullest is a choice
  • #206
  • Mar 13, 2025 5:01pm Mar 13, 2025 5:01pm
Quoting vidvad
{quote} Me too! Hopefully I kept it short enough for you lol I'm going to keep the nightly reviews to 10 to 15 minutes tops.
Perfect length haha
  • #207
  • Mar 13, 2025 8:21pm Mar 13, 2025 8:21pm
The higher reward to risk you go for, the lower the probability (and thus, the lower the win rate).

2:1 profit to risk = low probability trade:

Al Brooks:

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If you use a .5 to 1 reward to risk, you will absolutely win more often than you lose.

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"If I have a wide stop, I would rarely let my wide stop get hit." Al Brooks looks to price action to get out.

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Al Brooks on MeBob in the Morning:

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Life itself is a privilege, but to live life to the fullest is a choice
  • #208
  • Mar 13, 2025 10:22pm Mar 13, 2025 10:22pm
Quoting turnip15
{quote} Vid - as an aside and I won't post about morning UK session of SP500 again, I was wondering if the UK based trader could use the 8:35am bar as a UK MeBob approach. Just a thought in case anyone has looked at Mebob for UK opening time for the Dax, SP500 etc, during the first two hours? {image}
Here are a few FTSE charts Turnip... London time on my charts... 8am equity open so used the 835-840 bar.
I know thread is based on ES NY session...but for UK traders .may be worth observing the FTSE and DAX or may not
(oh CFD charts below don't have the futures in my watchlist)

Cheers T
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Master your Mind,,,Master the Market
  • #209
  • Mar 14, 2025 8:03am Mar 14, 2025 8:03am
Quoting bluesteele
{quote} Here are a few FTSE charts Turnip... London time on my charts... 8am equity open so used the 835-840 bar. I know thread is based on ES NY session...but for UK traders .may be worth observing the FTSE and DAX or may not (oh CFD charts below don't have the futures in my watchlist) Cheers T {image} {image}
I have no problem is the UK traders want to explore the MeBob here on the FTSE or the DAX. I would prefer if possible that they choose one or the other, at least during these early days of the MeBob exploration. The more we can all build our experience together on a common ground the better position we will all be to determine the extent and limits of whatever value MeBob brings to our trading plan(s).

That 8:35 AM UK bar is the logical candidate to use, at least initially, it would seem. I look forward to what you guys find!
Life itself is a privilege, but to live life to the fullest is a choice
  • #210
  • Mar 14, 2025 10:10am Mar 14, 2025 10:10am
Still not feeling well, started the video late. Two MeBob trades today, one for a -10.75 point loss, the other a +10 point win. The net result was a loss on the day of $45.86.

I used an alternate price action stop based on the post MeBob inside/outside/inside set up. I discuss what I believe would be more appropriate stop loss management based on price action. I will do one more week of original MeBob entries only, but I will be incorporating price action stop management instead of risking to the opposite extreme of the MeBob range.

Still another hour or so left in the MeBob morning trading window but I am done and going back to bed. I'll do the MeBob review this evening if I am up to it or else sometime over the weekend.

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Life itself is a privilege, but to live life to the fullest is a choice
  • #211
  • Mar 14, 2025 10:33am Mar 14, 2025 10:33am
Some really great lessons to be learned today.. I believe controlling your risk is the most important aspect in trading considering you have an edge.

VidVad give some good examples of controlling risk for his trade management. Kudos as always to Al Brooks.

This forward testing of Mebob is it really good exercise in honing your skills. .

I do have a lot more to add when I am feeling a little bit better as I've been dealing with some health issues since the latter part of last year...Energy really sucks most of the time. But we will get there

Cheers All
Master your Mind,,,Master the Market
  • #212
  • Mar 14, 2025 10:49am Mar 14, 2025 10:49am
https://www.tradingview.com/x/Cch8SXpH

Is it me, or is ES on fire again today?
  • #213
  • Mar 14, 2025 10:50am Mar 14, 2025 10:50am
Quoting vidvad
Still not feeling well, started the video late. Two MeBob trades today, one for a -10.75 point loss, the other a +10 point win. The net result was a loss on the day of $45.86. I used an alternate price action stop based on the post MeBob inside/outside/inside set up. I discuss what I believe would be more appropriate stop loss management based on price action. I will do one more week of original MeBob entries only, but I will be incorporating price action stop management instead of risking to the opposite extreme of the MeBob range. Still another...

Get well Vidvad, appreciate your work.

BT
  • #214
  • Edited 12:33pm Mar 14, 2025 11:41am | Edited 12:33pm
Quoting bluesteele
VidVad give some good examples of controlling risk for his trade management. Kudos as always to Al Brooks.
MeBob is the creature of the late Robert Falk. The price action set ups have been learned primarily from Al Brooks and others, e.g. Linda Raschke, Bob Volman.

I take credit for none of it.

All we are doing here is putting some good stuff together to make what will hopefully prove to be a consistently profitable, easy to follow trading plan populated with two or three patterns, and that is all we should need.

Godspeed on your road to recovery, blue!
Life itself is a privilege, but to live life to the fullest is a choice
  • #215
  • Mar 14, 2025 3:31pm Mar 14, 2025 3:31pm
Quoting vidvad
{quote} I have no problem is the UK traders want to explore the MeBob here on the FTSE or the DAX. I would prefer if possible that they choose one or the other, at least during these early days of the MeBob exploration. The more we can all build our experience together on a common ground the better position we will all be to determine the extent and limits of whatever value MeBob brings to our trading plan(s). That 8:35 AM UK bar is the logical candidate to use, at least initially, it would seem. I look forward to what you guys find!
I'm based in Europe so I took more of a look at the FTSE. 33 consecutive days going back from today. I looked at two possible entries. On candle close of the BO candle and entry on retest of the MEBOB zone. Assuming a 10 point SL, 62% WR on entry of the BO candle close, 57% on the retest. I looked at the maximum run-up of each trade. Suggestions welcome from those wiser than me as to how to trade it. BE after 10 points, move SL to +10 after x many points etc?
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  • #216
  • Mar 14, 2025 4:12pm Mar 14, 2025 4:12pm
Quoting Andy1trades
{quote} I'm based in Europe so I took more of a look at the FTSE. 33 consecutive days going back from today. I looked at two possible entries. On candle close of the BO candle and entry on retest of the MEBOB zone. Assuming a 10 point SL, 62% WR on entry of the BO candle close, 57% on the retest. I looked at the maximum run-up of each trade. Suggestions welcome from those wiser than me as to how to trade it. BE after 10 points, move SL to +10 after x many points etc? {image}
Thanks for your input! Very good info to have, and would love to create the same set of data with the intended market.
  • #217
  • Mar 14, 2025 4:35pm Mar 14, 2025 4:35pm
Quoting Andy1trades
{quote} I'm based in Europe so I took more of a look at the FTSE. 33 consecutive days going back from today. I looked at two possible entries. On candle close of the BO candle and entry on retest of the MEBOB zone. Assuming a 10 point SL, 62% WR on entry of the BO candle close, 57% on the retest. I looked at the maximum run-up of each trade. Suggestions welcome from those wiser than me as to how to trade it. BE after 10 points, move SL to +10 after x many points etc?
Excellent work, Andy. I have a personal belief that most retail traders like us do not use spreadsheets to collect and collate data nearly as much as we should. I've had some of my biggest break throughs doing just what you are doing here.

As you know, the way I'd trade it is to take a fixed profit target, bank it, and move on wait for the next set up.

If you are looking for ways to trail, go back and track a trailing stop, kept 1 or 2 ticks above the high/low of closed five minute bars.

Then I'd look at 1r and 2r and 3r targets. And I would also consider using an ATR function. What was the current 8 period ATR at entry, how many ATRs did price move in favor of the entry?

Lots of options.

But if you are still working at becoming a consistently profitable trader, the best option will be 20 days using a fixed take profit and a fixed stop loss; and if your reward to risk is less than one, that is, imo, fine, especially for the 20 day exercise.

Thanks for doing this work and sharing here! This is the type of sharing we should be doing - very much in the spirit of the community.

Great job, Andy!
Life itself is a privilege, but to live life to the fullest is a choice
  • #218
  • Mar 14, 2025 11:19pm Mar 14, 2025 11:19pm
Quoting DubaiFX
{quote} i am not spamming, i am providing information, and if have watched the video carefully you may find it useful, i am not a scammer, you must be one of those who like to spend money to show people how rich you are, in reality if you look at warren buffet he still lives in a 1958 home his parents used to live in and lives on modest 8K per month or 100K per year, i have done my research for months to make this video, so people will understand that its not just trading which will make you rich, if you make 5K a month but withdraw and spend it,...
  • #219
  • Mar 15, 2025 7:12am Mar 15, 2025 7:12am
Hey everyone,
Great discussion here about FTSE and DAX observations, as well as risk control strategies. I’ve been following along and wanted to throw in a related question.
I’ve been working with RTS5Pattern indicator for pattern detection and market structure analysis. Given how much we’re discussing MeBob setups and price action-based strategies, I’m curious—how do you guys feel about custom patterns as a trading tool?
Do you think designing and refining your own setups, like MeBob or other structured patterns, gives a real edge, or do you prefer sticking to well-established price action methods? Would love to hear if anyone here has experimented with something similar!
Cheers!
Tommy Bell
  • #220
  • Mar 15, 2025 7:33am Mar 15, 2025 7:33am
Quoting RemindCZ
Do you think designing and refining your own setups, like MeBob or other structured patterns, gives a real edge, or do you prefer sticking to well-established price action methods?
My intention for this thread is to use MeBob + two or three commonly recognized price action patterns.

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There is no plan either to reinvent the wheel or attempt to invent an altogether new wheel in this thread.

However, from your post, it sounds as though your particular interest is sufficiently ambitious in scope as to warrant its own thread. I encourage you to pursue your ideas where they are most likely to see fruition, in a dedicated thread of their own.

Good luck!
Life itself is a privilege, but to live life to the fullest is a choice
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