The PriceBob Strategy

trade from today:


this is simple and almost boring trading now. no thrill or excitement, just monkey see monkey do...
I will be opening a few prop accounts once the testing is done and I will trade 1 fixed bar setup per account and post results too.

Today trades
DAX M15 (buy), winner
DAX H1: (buy), loser

I was too busy yesterday and missed both trades, but I caught the long today. But my trailing stop knocked me out early at the second red candle.

Good Honest post
Thank you

That is exactly how trading should be. Trading should be boring. It's a job, like any other job.

The fact that you are finding it boring means that you are finally recovering from the dopamine addiction that most retail traders quickly get hooked on.

Congrats!

I think this video is so fitting for this thread... Exactly what VidVad has been saying...

Just to make sure those who matter are on the same page:

In the chart below, based on the highlighted reference bar, would a few of you please post the following:

1) What is the buy stop order price for this ORB trade?

2) What is the price for the stop loss order for this ORB trade?

Thank you for your assistance.

Last I say about it...Watch the Stacey Burke video above...
No matter how or what you trade ,,,, IT's YOU.

OK so a little recap of today.
Traded GOLD NG and Live Cattle.
Losses on Gold and Cattle did good on NG after inventories for a nice green day.

But I want to show losers and in particular Cattle...as I've done well on Gold the last several days.
Cattle Ive had back to back losing days. Controlled losses...paper cuts. that's the ticket to longevity.
Large losses always start as small losses.

A few screenshots of Cattle.. You can see my pending Sell Limit order with preset SL TP
10 tick SL 40 tick TP a good trade that didn't work out after going $660 in the green I was stopped
out for a $200 loss on 2 contracts which is pretty tight.

In hindsight I should have peeled off 1 at +$200 giving myself a no lose situation... But I was distracted
and didn't do it... Again lesson learned to stay focused in this SKILL based business.
Maaaan you would think after decades I wouldnt still be learning daily lessons ! But here I am !

Wherever you go there you are ! And to be honest I'm happy to still be learning everyday as I
truly love trading. Since I was a wee lad of 12 or 13 when I started following stocks in the newspaper
and progressed to paper trading those stocks and drawing Line charts by hand on graph paper lol

To taking my initial $3000K deposit in my first account when I was just legal age,,and tripled it in a week !
Back in the day when you had to phone your orders in to your broker..Oh how easy it is now lol !!!
Then of course I blew it up immediately afterward and owed the broker money ..Them were the days !

45 yrs later here I am ! Still passionate ! ! !
(and btw if your into TL's use a linechart )

OK getting sidetracked,,,

Live Cattle a beautiful market with Low margins and nice smooth moves nothing like the Nazzcrack.
Unphased by alot of the tweet volatilty of the US admin... I think its a gem to trade.

There's no Globex aftermarket trading its a strict 9:30-2:05pm NY market 55-5 minute bars every day thats it
not even 2-4hr bars on a daily chart ! As its not even open 8 hours.... But you can make ALOT of $$$
trading cattle... Using the concepts VidVad has been talking about..Fixed bar Fixed Interval...
Does the market have liquidity ? Yep ..its tradeable..

Point is I want to show a different market than the norm retail...And show some of my losses... It aint all pretty folks.
You better be good at losing as Tom H says The Best Loser Wins....

I think if I had to narrow down 2 markets to trade exclusively, in these times, they would be Gold and Cattle.

Two charts:
first showing my pending limit order with predefined levels for SL/TP ..15min ORB has broken and I am trading the retest of the OR break.


second showing the result.
Attachment g



Rambling done Time for some shuteye !

Cheers
Blue

Ghost mode. Monk mode. I don't follow this channel but I did find parts of this discussion interesting.

1) the high of the ORB + 1 tick
2) the low of the ORB - 1 tick

Thank you, Belgrath!

It came to my attention yesterday that someone who is allegedly "following" this thread and our method thought the trade from Monday on the ES was stopped out because he didn't understand the entry and stop placement technique. Granted, he isn't the sharpest tool in the shed (though he is a bit of a tool lol).

So, to be clear, when trading fixed bar using breakout entry as the order placement technique, the entry order is one tick above/below the reference bar high/low; and likewise, the stop loss is one tick below/above the low/high of the reference bar.

Carry on.

For a minute there I thought it was a trick question So I was awaiting your response in case I had lost it.

I had two trades today (a long and a short). Both got knocked out by my trailing SL.

I just want to say that this whole process is really helping to show me how I should trade. It is forcing me to focus on how to improve my current strategy instead of moving on to something else. Just yesterday I realized that my winning percentage on longs is much better than shorts. So something to consider for the future. I am a little over halfway through my latest 20 trades and I am still in profit even including my first 20 trades which is great.

Today trades
DAX M15: No trade. The order has not been activated within three hours.
DAX H1: (sell), BE

Well done Belgrath

It is definitely going on my favorites list at youtube.

Some here would say live cattle isn't "thick" enough to trade. I wouldn't. But some would.

I am a Nazzcrack addict. There. I said it.

My name is vidvad and I'm a Nazzcrack addict.

And yet some can't figure out what the thread is about. Appreciate your contributions, blue.

Lean Cattle M15 ORB Highlighted


Gold Futures, M60 & Initial Balance per bluesteele


"Initial Balance" is not a concept I use. I am familiar with it primarily as Stacey Burke has used it: Monday is the opening range of the week, and I believe Tuesday is the initial balance. However, in the context of this thread, if someone does use this concept, this is how it would be incorporated into the theme of this thread: The IB would need to be defined by time, and then that interval would become the reference bar of a fixed bar trading plan.

Some will barely be able to contain themselves and refrain from piping up about the difference between "thick" markets and "thin" markets and volume and liquidity and all manner of ideas irrelevant to fixed bar trading. However, unless you have plans to corner the market in either cattle or gold, there is more than enough activity for a retail day trader to sling a handful of contracts in either of these markets as part of a fixed bar trading plan.