The PriceBob Strategy

To my friends here..I do not want you to miss this..Life is Good! After all, there are only 2 things..

Good stuff !!!!

Come on mebob !

Just a good example today of how I use an ema channel as a dynamic take profit management tool.
Once you are in a trade AND WHEN the conditions present.(Behaviour of price)

I've harped on about this for several years. but today,,,,,,

I Didnt trade the 5min ORB as silly me had my attention on Gold and Oil... The way it goes
I miss the big fish lol....

There quite often is one day a week that will perform like this.. Ive had several times a week
and as well weeks where it does not present,,, but often at least 1x...

Hitting 2 or 3 of these a month really add up.

C'est la vie !

Last update.
Okay today

Today trades
DAX: 1 winner. Slightly different approach today.

Just to show I am human. made a pigs ear of things today; poor discipline, mind thingies, and lack of attention
Micro SP500

In our business we call it "MindFu*k".

"*" courtesy of Blue, I do not have a star, instead I write it with letter "c".

P.S. Shit happens and we move on. It is a CHOP today.

We're all human here.

Well, most of us.

There are a few jacka$$es as well. But most of us here at FF are human.

All too human.

I, for one, appreciate you sharing your day with us, turnip.

Precisely, take the hit (stopped out) and move on to the next day. I'm too shy to say " mind fu*k" but I know what you mean

vidvad very correctly noted that traders are "All too human".

Warning: If you are thinking like a human with all the emotions that are build into you by thousands years of humanity, you will not be a profitable trader. Period.

"Best Loser Wins", a concept popularized by Tom Hougaard is perfect!

Banger of a day for myself...
Today was all about the mindset..

Made some money on gold in the very early session 8:00 a.m. New York...

Started to get chopped up a little bit stuck to my guns and made some sound clean trades on gold..

Waited for the ES to open got into an orb trade... Made a little then gave it back to scratch even....

Price action was choppy.. waited for my opportunity.. got a short entry close to where I wanted it... One contract and then I added in another position another full contract.

I then walked away stop loss in place tp's in place.. the Walmart trade has Al Brooks would say..

38 points on my first es short and 25 points on the additional contract..

I know if I would have sat around watching the screen I would have been out much earlier...

So I simply said okay I accept the risk I've got good entries acceptable risk let the chips fall where they may...

It's been awhile since I traded like that as I'm much more Hands-On.. like I've posted I like using that 8 EMA Channel sort of as a dynamic take profit..

Only 2 areas in RTH where are those trades could originate from..

Was my own setups nothing to do with me Bob or orbs... But everything to do with mindset execution sticking to your guns.

The beauty of this thread.. is if you follow a meatball type of setup doing the Mark Douglas exercise....

It gets you executing hopefully with confidence and conviction... By accepting the risk and letting the outcome happen whatever that might be...

That's enough dribble for now...

Cheers
Blue

Maaaaan, you dribbling again

Hahaha... I half expected a maaaaan

Today trades
DAX: 2x long: 1x BE, 1x loss

I was thinking lets take some profit halfway the trade, so I set 2 targets. First target was met. After that, price went south. Second trade, long again, resulted in a losing trade.

Lessons learned:
1. Only 1 long and/or 1 Short trade per day.
2. Rake in those pips at the first target(either 1:1 or first S/R level, whatever comes first)

BT

Short video of a reversal bar trade that introduces the concept along with some money mamabgement and some typical vidvad "oh, look! A chicken!" type ramblings.

I'll be adding an additional visual "backtest" video later today.

I've been saying both here and in my journal that my main strategies since my roulette epiphany have been fixed bar methods, e.g. Mebob, ORB, and "reversal bar" strategies, where I use Al Brook's simple definition of a reversal bar.

Fixed bars and reversal bars will keep upi playing inthe sunshine rather than getting lost in the cold dark environs of the FF indicator created rabbit holes.

Today Trades
DAX: 1x Long (losing)
JPY225: 1x Short (winner)

*Update*. JPY225 (2nd trade, from mobile): 1x Long (winner)

I'm just a squirrel after a nut....or two

Just keep digging away and the nuts arrive
Seriously -I was better at disciple today and held on for a good trading session. Thanks for encouraging words along tne way

Judging from that photo, you're a chipmunk who identifies as a squirrel. And that's fine. I don't judge folks, or chipmunks, or squirrels for that matter, at all.

Ed777 and I have flirted with gold a number of times over the last few years. I'm really starting to get a good handle on the use of reversal bars (as defined by Al Brooks) to trade, especially larger bar durations such 15, 30, and 60 minute.

First trade was a long scalp, +2.5 points. The second trade was a short "Walmart" trade, also a Brooks concept mentioned recently by blue. I set a sell stop order to go short, and then left to rubn some errands. I came to find thatthough I spent over $100 at the grocery store, I was better off by $900 as the short trade hit for a +9 point profit, using an Automated Trade Management OCO of -$400 to +$900.



Circumstances at the day job allowed me to trade yesterday and today. I'm not sure if I'll be able to do much tomorrow. I did start another prop eval account which will likely be my last before I settle in to trading my own live account exclusively. I'm hoping to find enough opportunity to trade to pass the eval by the end of next week so that I can begin the new funded account on Monday June 2, 2025.

MeBob on the ES was also a profitable short this morning for +10 points.