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The PriceBob Strategy

  • #521
  • Apr 4, 2025 5:24pm Apr 4, 2025 5:24pm
Quoting vidvad
It is really impossible to describe what I did using Ninjatrader as the way Ninja plots the executions and often mislabels them (calls some tragets "entries" and some entries "targets" if you end a trade prematurely by manually flipping direction). {image}
It's very hard to teach and demonstrate this kind of method, I've tried lol. However, I do think it provides the most edge.
  • #522
  • Apr 4, 2025 5:41pm Apr 4, 2025 5:41pm
Quoting MachineLearn
{quote} It's very hard to teach and demonstrate this kind of method, I've tried lol. However, I do think it provides the most edge.
I watched those two videos when each came out. I didn't know what to make of them.

Today, having listened to them a total of 4 times each, back to back, and then trading based on my take aways from them, I'd have to agree with you 100%.
Life itself is a privilege, but to live life to the fullest is a choice
  • #523
  • Apr 4, 2025 5:53pm Apr 4, 2025 5:53pm
Quoting MachineLearn
{quote} It's very hard to teach and demonstrate this kind of method, I've tried lol. However, I do think it provides the most edge.
The key is to take your loss. Don't fight at all. Don't add to your loser. Just take the loss, sit back, gather some additional information and try again. The real danger is taking a position when you feel price is at the bottom of a consolidation and then the market starts a directional move down. You have to tak eyour loss, reassess and start trading in the direction of the break.

And don't ask much from price action.

Small profit, small losses, but very high probability.
Life itself is a privilege, but to live life to the fullest is a choice
  • #524
  • Apr 4, 2025 6:17pm Apr 4, 2025 6:17pm
Quoting vidvad
{quote} The key is to take your loss. Don't fight at all. Don't add to your loser. Just take the loss, sit back, gather some additional information and try again. The real danger is taking a position when you feel price is at the bottom of a consolidation and then the market starts a directional move down. You have to tak eyour loss, reassess and start trading in the direction of the break. And don't ask much from price action. Small profit, small losses, but very high probability.
100%
  • #525
  • Apr 4, 2025 7:01pm Apr 4, 2025 7:01pm
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Life itself is a privilege, but to live life to the fullest is a choice
  • #526
  • Apr 5, 2025 5:52am Apr 5, 2025 5:52am
Quoting vidvad
{image}
Hi Vidvad

If you continue with this strategy idea, you will get myself & Machine tagging along for a period as well.
We are both crazy scalpers.
I trade this basic strategy every day during quiet periods using live Delta instead of ATR data.
It gets back to courage.
You have to be brave and totally immersed in the chart to be able to be a successful fader.
The idea being you may win one lose one repeatedly for a period and feel you are just going nowhere until something clicks and you win 5 in a row.
Your'e done.
Move on to other strategy's.

I warm up on MES for a period, if the market is readable then switch to ES. The challenge is to be able to CONCENTRATE without any negative emotions while accepting losses until you nail a series of wins.
NQ is totally terrifying.

Good Luck
Trading thin liquidity at the boundary of the charts
  • #527
  • Apr 5, 2025 1:21pm Apr 5, 2025 1:21pm
Quoting vidvad
{quote} His approach is very interesting, and reminds me somewhat of your method in other threads where you'd short the upper band and long the lower band or something like that. With his two videos ringing in my ears I sat down at the end of the daya and applied his method (wel,, my understanding of his method) on a 5 minute ES chart. Spectacular results! {image} Took about 20 minutes. Imantrading says he trades for only 17 minutes per day. Very basic: WHen the market apears to be consolidating, buy low and sell high. When the market appears to...
Apply your twenty day rule and you might get an idea of viabilty for this approach?
every Saint has a past. Every Sinner has a Future
  • #528
  • Edited 11:19am Apr 6, 2025 10:50am | Edited 11:19am
Hello,

As far as i have backtested the mebob strategy, it seems to be about 5% more profitable if you only take the trade when the candle after the reference candle closes above the high/below the low of the reference candle.

Also, i put my stops at the opposing side of the reference candle, Ex. if price closes above the high of the reference candle, i place my stop on the low of the reference candle. Then, target a 2:1 RR.

Please note that all of this has only been backtested on a time period of about 2 weeks, the winrate may change considerably if i were to backtest for a longer time period. I have not used the "double up in the opposite direction" rule. Will my winrate increase if i use that rule?

Anyways, ~ 50% winrate and 2:1 RR is pretty dope, ESPECIALLY from a strategy this simple.

I would happily read about you guys opinions about this.
  • #529
  • Apr 6, 2025 1:10pm Apr 6, 2025 1:10pm
Quoting turnip15
{quote} Apply your twenty day rule and you might get an idea of viabilty for this approach?
Everything I try gets journaled, per Mark Douglas's advice. I got the "Super Scalping Journal" ready today, and it will go for the next 20 days.


MeBob has a journal.

My Gonzalo NQ Method has a journal

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Life itself is a privilege, but to live life to the fullest is a choice
  • #530
  • Apr 6, 2025 1:15pm Apr 6, 2025 1:15pm
Quoting fkronloff
Hello, As far as i have backtested the mebob strategy, it seems to be about 5% more profitable if you only take the trade when the candle after the reference candle closes above the high/below the low of the reference candle. Also, i put my stops at the opposing side of the reference candle, Ex. if price closes above the high of the reference candle, i place my stop on the low of the reference candle. Then, target a 2:1 RR. Please note that all of this has only been backtested on a time period of about 2 weeks, the winrate may change considerably...
My opinion is that any method requires 20 days of live market forward testing. Then evaluate.

Back testing is a beginning. But, imo, it is the forward test where we discover what a method is made of, as well as what we ourselves are made of.

Do 20 days, evaluate, tweak (change only ONE variable at a time, and only if the results were unprofitable).

If profitable after 20 days, do 20 more. Re-evaluate.
Life itself is a privilege, but to live life to the fullest is a choice
  • #531
  • Apr 6, 2025 1:48pm Apr 6, 2025 1:48pm
Quoting vidvad
{quote} Everything I try gets journaled, per Mark Douglas's advice. I got the "Super Scalping Journal" ready today, and it will go for the next 20 days. MeBob has a journal. My Gonzalo NQ Method has a journal {image} {image} {image}
My hero
Enjoy your Sunday Vid. It is evening here and time for a cuppa tea and a biscuit.
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every Saint has a past. Every Sinner has a Future
  • #532
  • Apr 7, 2025 2:11am Apr 7, 2025 2:11am
Margins are greatly increased with Futures Brokers (Can you blame them ?)
Remember Trading is OPTIONAL !

Spreads can be widened and slippage occurs,,,,
Trade carefully AND
Make sure you know and understand the limit downs/circuit breakers for your product.


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Markets are Mirrors,,Mastery of craft is mastery of self
  • #533
  • Apr 7, 2025 7:13am Apr 7, 2025 7:13am
Quoting bluesteele
Margins are greatly increased with Futures Brokers (Can you blame them ?) Remember Trading is OPTIONAL ! Spreads can be widened and slippage occurs,,,, Trade carefully AND Make sure you know and understand the limit downs/circuit breakers for your product. {image}
Be careful guys
every Saint has a past. Every Sinner has a Future
  • #534
  • Edited 9:44am Apr 7, 2025 9:26am | Edited 9:44am
DOW Futures 5 Min TF 09:50(reference) and 10:10(reference) Eastern Standard Time.

Similar Strategy to PriceBob and ORB(@PipCruiser) but more statistically viable 5 Min TF interval over last 4 weeks. Statistics shown that these 5 Min bars would bring better R:R. over the last 4 weeks. My point, perhaps those single 5 Min TF bars are just point of reference and not that special.
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  • #535
  • Apr 7, 2025 9:41am Apr 7, 2025 9:41am
Playing with demo trade. Look at NQM5, I keep hitting "flatten all" but all I get is "working" I need one sell to close my longs.
If this was real trading I would be sick as a parrot
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every Saint has a past. Every Sinner has a Future
  • #536
  • Apr 7, 2025 10:04am Apr 7, 2025 10:04am
Today trades:
DAX: 1 winner. But not a proud one. I wasnt prepared well, so I closed as soon as price was up my lane.
ES: no trading. weird volumes.
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  • #537
  • Apr 7, 2025 10:05am Apr 7, 2025 10:05am
Quoting turnip15
Playing with demo trade. Look at NQM5, I keep hitting "flatten all" but all I get is "working" I need one sell to close my longs. If this was real trading I would be sick as a parrot {image}
TV was even down for a few minutes on my side.
  • #538
  • Apr 7, 2025 10:13am Apr 7, 2025 10:13am
Quoting BataviaTrade
{quote} TV was even down for a few minutes on my side.
Still problems ie Alerts dont work

https://downdetector.com/status/tradingview/

PC
Less is more...
  • #539
  • Apr 7, 2025 11:37am Apr 7, 2025 11:37am
Quoting turnip15
Playing with demo trade. Look at NQM5, I keep hitting "flatten all" but all I get is "working" I need one sell to close my longs. If this was real trading I would be sick as a parrot {image}
Thats better even if it is demo
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every Saint has a past. Every Sinner has a Future
  • #540
  • Apr 7, 2025 12:57pm Apr 7, 2025 12:57pm
I didn't trade my personal account today though in hindsight I wish I had.

Both of these are funded prop accounts, and 90% of the small one is mine, and 80% or the large profit is mine. So real money as far as I'm concerned, even if I have to split it.

The top line showing $0 is, of course, my personal account.

I get 100% of that $0!

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