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The PriceBob Strategy

  • #621
  • Edited 6:41pm Apr 16, 2025 3:09pm | Edited 6:41pm
Quoting BataviaTrade
{quote} Hi Vidvad, were you entering a trade on the first 5 minute candle? Maybe I am seeing this all wrong but I get confused after seeing this trade in relation to your first post. Can you elaborate? {quote}
The basic methodology of this thread is what is known as "fixed bar" or "fixed reference range" trading. In the initial post, the fixed bar method that got us started is MeBob, which are the rules you quoted.

In addition to MeBob, the opening range M5 is also one some of us explore.

If you watch the last two videos I have done you will see that the method is not limitied to ES nor limited to M5.

However, the MeBob in its original form was developed and applied ONLY to the S&P 500.
Life itself is a privilege, but to live life to the fullest is a choice
  • #622
  • Edited 5:30pm Apr 16, 2025 3:12pm | Edited 5:30pm
Quoting BataviaTrade
{quote} Hi Vidvad, are you and I trading the same reference candle on ES?
As I explained in several videos and maybe a post or two, my work schedule has shifted temporarily so I am unable to wait around for MeBob.

I am trading ORB, and super scalping based on Al Brooks 5 minute price action. I usually have to finish by 10 AM Eastern these days if not before. For example, yesterday (Tuesday) I was unable to trade at all. Or was that Monday? lol

It all runs together when you are busy!
Life itself is a privilege, but to live life to the fullest is a choice
  • #623
  • Edited 9:34am Apr 17, 2025 3:42am | Edited 9:34am
Today Trades:
DAX: 1 (winner). TP set at 50% Fib retracement
ES: 1 (winner). TP was set at resistance.
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  • #624
  • Apr 17, 2025 9:53am Apr 17, 2025 9:53am
Today I traded MeBob getting 21.6 points, ORB is showing many reversals.
I think there are no markets in USA tomorrow, so I hope you have a great weekend!
  • #625
  • Apr 17, 2025 11:07am Apr 17, 2025 11:07am
Quoting bluesteele
{quote}{quote} Whatever percent it is...I agree it's a large percent... And here's what I like about simple... Simple should be easily executable... And when a trader starts to execute simple setups over and over...fear lessens and confidence gains. All part of that mindf###... And when one gets positive results from religiously executing the confidence grows and thst voice in our head quiets down a bit and is easier to manage... As we know from experience now ..it's entry stop loss take profit... So if mindf### is 60% 70% 80% or whatever we best...
Post 540 might help some examine their opinion of price action.
https://www.forexfactory.com/thread/...1#post15217601

I am back from a short holiday and find you guys have given a load of reading to catch up on
every Saint has a past. Every Sinner has a Future
  • #626
  • Apr 17, 2025 4:01pm Apr 17, 2025 4:01pm
Quoting turnip15
{quote} Post 540 might help some examine their opinion of price action. https://www.forexfactory.com/thread/...1#post15217601 I am back from a short holiday and find you guys have given a load of reading to catch up on
Cheers T ...I was wondering where you had wondered off tooo !!!!

Master your Mind,,,Master the Market
  • #627
  • Apr 18, 2025 4:05am Apr 18, 2025 4:05am
Today trades:
**I won't be trading today in observance of Good Friday**
  • #628
  • Apr 18, 2025 6:49am Apr 18, 2025 6:49am
Quoting BataviaTrade
Today trades: **I won't be trading today in observance of Good Friday**
US stock markets are closed. I do not trade futures when the stock market itself is closed for the day.
Life itself is a privilege, but to live life to the fullest is a choice
  • #629
  • Apr 21, 2025 1:41am Apr 21, 2025 1:41am
The 20 days 20 trade test:

3 different scenarios
10:05-10:10 is the setup
Close outside of above range is the trigger
Enter on close of trigger bar.
SL other side of range of setup bar
TP 10 12.5 and 15

Last 20 days
TP 10 63.75 pts 15W 4L (1 no trade day range with setup bar and subsequent trigger bar was over 200pts massive beyond any reasonable risk)
TP 12.5 101.25 pts 15W 4L A NEAR 60% increase in profits by increasing your tp by 2.5 pts
TP 15 115.25 pts 14W 5L increasing TP by another 2.5 pts gives a negligible increase in profits.

The reason I am posting this is simply to illustrate that one needs to look closely at their SL TP levels and how it impacts a sample size.
Yes this is a small sample size of only 20 days taking only 1 trade a day... But you get the idea.

What if you reduce SL to half the range ? or you utilize other TP methods such as a 1bar trailing stop etc etc ?
What would your results be ? What if you took a second trade after getting stopped out ?

I can tell you that many days pumped out alot more than 15 pts from the MeBob setup...

Question is...Is that part of your plan ? Does it fit with you and if so how do you capture more on those days ?
An individual thing for sure...depending on your personality and risk tolerance....

Bigger lesson perhaps is that MeBob works...a fixed timebased range setup.

Simple and Effective ,,but what it requires is ruthless execution with defined rules ...AND THEN let the numbers/the OUTCOME play out.

Master ONE SETUP
Master ONE TIMEFRAME
"Making more by trading less and by trading very selectively:
That pushes us to clearly define our rules and create experiences of mastery.
When we are highly selective, we control our market activity; it can't control us." ~ Brett Steenbarger
https://traderfeed.blogspot.com/2025...ding-less.html

Cheers
Blue

My basic MeBob setup
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And just a simple visual showing different TP levels.
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Master your Mind,,,Master the Market
  • #630
  • Apr 21, 2025 5:49am Apr 21, 2025 5:49am
Quoting bluesteele
The 20 days 20 trade test: 3 different scenarios 10:05-10:10 is the setup Close outside of above range is the trigger Enter on close of trigger bar. SL other side of range of setup bar TP 10 12.5 and 15 Last 20 days TP 10 63.75 pts 15W 4L (1 no trade day range with setup bar and subsequent trigger bar was over 200pts massive beyond any reasonable risk) TP 12.5 101.25 pts 15W 4L A NEAR 60% increase in profits by increasing your tp by 2.5 pts TP 15 115.25 pts 14W 5L increasing TP by another 2.5 pts gives a negligible increase in profits. The reason...
Brilliant analysis and thanks for posting. Means I can look at my charts and yours for encouragement. Enjoy your easter Monday.
every Saint has a past. Every Sinner has a Future
  • #631
  • Apr 21, 2025 3:09pm Apr 21, 2025 3:09pm
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  • #632
  • Apr 21, 2025 7:55pm Apr 21, 2025 7:55pm
Quoting bluesteele
The 20 days 20 trade test: 3 different scenarios 10:05-10:10 is the setup Close outside of above range is the trigger Enter on close of trigger bar. SL other side of range of setup bar TP 10 12.5 and 15 Last 20 days TP 10 63.75 pts 15W 4L (1 no trade day range with setup bar and subsequent trigger bar was over 200pts massive beyond any reasonable risk) TP 12.5 101.25 pts 15W 4L A NEAR 60% increase in profits by increasing your tp by 2.5 pts TP 15 115.25 pts 14W 5L increasing TP by another 2.5 pts gives a negligible increase in profits. The reason...
Thanks for your contribution bluesteele!
One question, only applying one entry per day right?
  • #633
  • Edited 9:58pm Apr 21, 2025 9:27pm | Edited 9:58pm
Quoting fream1
{quote} Thanks for your contribution bluesteele! One question, only applying one entry per day right?
Yes thats all i did... Taking the first signal win lose or draw
Today's MeBOB if using the signal candle H/L had the 10:40 candle wick reach 1 tick away from the high.

MeBob 10:05-10:10 hi on ES was 5214.00 the 10:40 candle high was 5213.75
and on the MES the 10:40 high was 5213.50

Just wanted to show how simple it can be as a literal set and forget
One Setup One Timeframe One trade....

Infinite ways to tweak the model's risk mgmt /$$ mgmt and I think some is needed to optimize and especially as the market evolves
but we as humans alwasys tend to overcomplicate...hard to believe something so simple can work

Enough rambling

All the best !

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EDIT: Just adding this tweet that I screenshotted other day or so... Read closely...it really applies to this thread and what VidVad has set out to do IMHO.
Which is quite simply taking this basic framework and making it your own...A fixed time range bar and applying some simple rules to it.
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Master your Mind,,,Master the Market
  • #634
  • Apr 21, 2025 10:49pm Apr 21, 2025 10:49pm
One thing I know about VidVad is his admiration for Linda Raschke as a standout verteran in the trading community
that not only speaks the simple truth,,,but also for her shear wealth of knowledge and wisdom,,,,
A genuine Market Wizard,,,,yet she doesnt like that name...she prefers to call herself an "Experienced Trader"

So here are some of her recent "tweets" little golden nuggets that relate to this thread.

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***Takeaway,,,, No short cuts...and last line of Jan 10 2022 tweet.... In essence Keep it Simple..Nothing new

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***Takeaway,,,, Behaviour of Price..in particular the first 5min bar of the day
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***Takeaway,,,, Maybe something to the first 5min bar... Linda seems to take notice enough to tweet it
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***Takeaway,,,, Think about what she is referring to...in the larger context its simple
Timings / Levels / Behaviour of Price...at least thats my take.
In particular what grabs me is "Is there a reversal after first 30-40 minutes"
That takes you right to the 8th bar the MeBob bar... hmmm
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***Takeaway,,,, Has Linda been reading our thread and is onto the 2 pm hustle ?

Anyways thats it for tonight I wont bore whomever looks in with any more of Blues Clues

Plus need a solid 7.5++ hours sleep after late night last night.

Going to do a little prep work now for tomorrow and call it a day.

Cheers
Blue
Master your Mind,,,Master the Market
  • #635
  • Apr 22, 2025 3:36am Apr 22, 2025 3:36am
Quoting bluesteele
One thing I know about VidVad is his admiration for Linda Raschke as a standout verteran in the trading community that not only speaks the simple truth,,,but also for her shear wealth of knowledge and wisdom,,,, A genuine Market Wizard,,,,yet she doesnt like that name...she prefers to call herself an "Experienced Trader" So here are some of her recent "tweets" little golden nuggets that relate to this thread. {image} ***Takeaway,,,, No short cuts...and last line of Jan 10 2022 tweet.... In essence Keep it Simple..Nothing new {image} ***Takeaway,,,,...
As a beginner a really appreciate your and Vivad time and help. Thanks for doing this.
  • #636
  • Edited 11:06am Apr 22, 2025 3:57am | Edited 11:06am
Today trades:
DAX: #1: winner
JPN: #1: loser. Short trade. Since the price was in an uptrend, I set a small target at .38 Fib retracement level. Didnt make it that far
JPN: #2: winner
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  • #637
  • Apr 22, 2025 4:49am Apr 22, 2025 4:49am
I took the UK100 instead of DAX that also won too!
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  • #638
  • Apr 22, 2025 5:06am Apr 22, 2025 5:06am
Quoting markwarb
I took the UK100 instead of DAX that also won too! {image}
Well done. Good to see a succesful trade on the UK100 too.
  • #639
  • Apr 22, 2025 7:47am Apr 22, 2025 7:47am
Quoting bluesteele
One thing I know about VidVad is his admiration for Linda Raschke as a standout veteran in the trading community
I learned a lot from the Al Broks trading course.

However, my study of Linda Raschke's writings came first in my personal experience, and had I not had the foundation I got from her, I'd probably not have made much headway with the Brooks course.

She is the firstest with the mostest in my book.

Still running at top sprint speed with my day job duties and achieving incredible productivity and efficiency. So far this has been my best start to a new season of breaking ground I've ever had.

I credit the work I did over the winter with trading, the roulette mindset, and the pursuit and practive of fixed bar trading methods. It really has developed my ability to focus, see through the crud, and "git 'er done!"

I think within a few weeks I'll be able comfortably to trade the first 60 minutes of RTH again.

But for now, I'm still dayjobbing over pricebobbing.

Great contributions to the thread everyone, and in particular Blue's recent data share.

Best of trading to you all!
Life itself is a privilege, but to live life to the fullest is a choice
  • #640
  • Apr 22, 2025 9:59am Apr 22, 2025 9:59am
Mebob SP500
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every Saint has a past. Every Sinner has a Future
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