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Inside Bar Trading Technique

Quoting Craig
I've done data mining studies on inside bars and I couldn't establish any statistical edge. Part of the problem is that the bar structure is different on different data feeds, the other is that it doesn't really tell you where the price is going, only that volatility will increase.
That is becasue you did not compound your position. So many people look for one system that will be the holy grail when the holy grail is really a combined effort from many different entry strategies and adding them in on your way with the trend.

When the trend is established, that is no time to be skidsh and undecisive, that is the time to make profits.

No one will ever be successful trading just 1 lot every trade. you must know when it is time to add on more positions.

Cheers,

Damon
"Keep your eyes on the helpers" - Mr. Rogers
Quoting mjotic
rathcoole

what is your problem. I'm just trying to grasp the concept because its something i'm interested in. I don't appreciate your negativity and you can piss off
Let me know how I can help.
"Keep your eyes on the helpers" - Mr. Rogers
damonl

thanks for your support.

I just want to get a clear understanding of what you're trying to show here.


once and inside bar is formed you place a buy when previous day high is penetrated by 1 pip.

You have an initial SL of 100 or the previous day low depending on conditions.

vice versa for a selling

and once the high is penetrated and everything is going to plan you exit once the next inside bar is formed and a sell is trigger, closing your long position and opening a short.


am I getting this straight??
Quoting mjotic
damonl

thanks for your support.

I just want to get a clear understanding of what you're trying to show here.


once and inside bar is formed you place a buy when previous day high is penetrated by 1 pip.

You have an initial SL of 100 or the previous day low depending on conditions.

vice versa for a selling

and once the high is penetrated and everything is going to plan you exit once the next inside bar is formed and a sell is trigger, closing your long position and opening a short.


am I getting this straight??
A little ad libbing along the way, but your statement would be correct. Sometimes you may take a few losses while things are stationary, but your first entry should always be for small lots because that is where you are the most vulnerable. After the trade is going in your favor you can add on other positions and even a few more lots for a few trades.

Just remember to always reset your orders if you get stopped out so you don't miss the trend. It may also be wise to use a 200 pip s/l for GJ and 125-150 for GU and AU.

Sometimes you may not want to wait for the next inside bar to form to exit. After you are in the trade for a few bars a trailing stop of the highest high or lowest low of the last three bars should be set because sometimes an inside bar will not be created on a reversal.
"Keep your eyes on the helpers" - Mr. Rogers
perfect thank you for your time
  •  kosh
  • | Joined Jan 2008 | Status: i love my pippy bank growing | 42 Posts
Dear Damonl,

Thank for sharing. Pardon my standard qns.

1.HOw long have you try this method.
2.What the sucess rate?

Kosh
Quoting mjotic
rathcoole

what is your problem. I'm just trying to grasp the concept because its something i'm interested in. I don't appreciate your negativity and you can piss off
it was because you were trying to grasp the concept that i stepped in to try to support Damon in providing a further explanation/example, to assist you !

And this is the thanks I get for it ?

You are either educationally sub-normal or an ignorant, ungrateful jerk.
there once was a fool called mjotic
who wrote posts quite idiotic
the guy didn't have the first clue
whatever in the markets he should do
so someone tried to assist him
but all he got back was to get pissed on
so bollox to you mate
for more information about inside bar please go here

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Persian Gulf forever
Quoting parsfx
for more information about inside bar please go here

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HAHA Yeah. I thought WTF? This is the same system James at BP posted about ages ago.
Chance favors the prepared mind...
A very nice simple but powerful technique.
All about price action, and without price, no pips!
I like that no hotsy-totsy indicators conjured from the great beyond.
And, eureka....we're not flogging an EA (yet!!). Breath of fresh air!


Thanks, Damon.

I discovered the Oz-FX just this week & copied to study. Interesting, but after a full week of this, thinking about getting into new indicator applications made my hair hurt.

I hope that you continue to post. You've got some folks following along. I'm sure the thread will grow. This technique has merit & is back to basics stuff.
I'm on board & will follow along, too. Thank you for sharing & for your patience.

Incidentally,...I have somewhere testing & analysis data done by Larry Williams on inside days, etc. As I recall, the chart set-up is a really powerful indicator. Spot-on. Something like a 85% accuracy. His testing was directed on the accuracy rate of the signal, and every other one imaginable. Granted, his test was with commodities futures, but charts are charts, no? I'll dig it up if anyone is interested.

Have a good weekend.

Later.
Quoting petero
A very nice simple but powerful technique.
All about price action, and without price, no pips!
I like that no hotsy-totsy indicators conjured from the great beyond.
And, eureka....we're not flogging an EA (yet!!). Breath of fresh air!


Thanks, Damon.

I discovered the Oz-FX just this week & copied to study. Interesting, but after a full week of this, thinking about getting into new indicator applications made my hair hurt.

I hope that you continue to post. You've got some folks following along. I'm sure the thread will grow. This technique has merit & is back to basics stuff.
I'm on board & will follow along, too. Thank you for sharing & for your patience.

Incidentally,...I have somewhere testing & analysis data done by Larry Williams on inside days, etc. As I recall, the chart set-up is a really powerful indicator. Spot-on. Something like a 85% accuracy. His testing was directed on the accuracy rate of the signal, and every other one imaginable. Granted, his test was with commodities futures, but charts are charts, no? I'll dig it up if anyone is interested.

Have a good weekend.

Later.
I'd love to see it.....Thanks
"Keep your eyes on the helpers" - Mr. Rogers
i waste my time and effort to search for a chart and post it up to provide a simple explanation for the MJOTIC guy (which seemed to be appreciated by everyone else here)
and the reward I get is a PM from Mjotic simply saying: "go fuck yourself you prick". !!!???!!!???
You couldn't be a bit more creative than that ? Are you still at school, is this how you run around in the playground ?

Damon, sorry I had promised myself I wasn't going to interrupt your fine thread again, but I am just so shocked and appalled at this guy's attitude when all I tried to do was help him.
Quoting petero
His testing was directed on the accuracy rate of the signal, and every other one imaginable. Granted, his test was with commodities futures, but charts are charts, no? I'll dig it up if anyone is interested.
Petero, I'd be really interested to see a copy too. Particularly since I mostly trade comm futures anyway. (Not that there's a real difference, I use the same trading techniques whatever the market. like you said, charts are charts, TA is TA is TA ......)
Okay....here is what I am going to do.

Rather than just show you the inside bar technique, I am going to put it all together. Since trading the way I do I keep track of everything on paper anyway, I think I will just keep track of pending orders, open orders, stop losses, etc right here on the forum for the pairs that I am using.

This will save me a lot of paper

I hope to get to this for today, but the football games are on and I am a big Packer fan and am now off to do the dishes.

Talk to you all again soon,

Damon
"Keep your eyes on the helpers" - Mr. Rogers
The inside bar is a very powerful setup.

Obviously it's not enough on it's own. If you can master additional candlestick patterns, it would benefit your trading enormously.
Info:

Hi Damon et al,
if interested, Dr Jeff Wilde has gone into this Inside Bar business in depth and he has a good programme with plenty of support; audios, videos etc. This system is for purchase. Please be aware that I am in no way connected to Dr Wilde although I have purchased two of his methods, and I mention this for information only for those that have an interest in trading the Inside Bar.
Dave
Quoting Acko
Info:

Hi Damon et al,
if interested, Dr Jeff Wilde has gone into this Inside Bar business in depth and he has a good programme with plenty of support; audios, videos etc. This system is for purchase. Please be aware that I am in no way connected to Dr Wilde although I have purchased two of his methods, and I mention this for information only for those that have an interest in trading the Inside Bar.
Dave
Thanks Acko....I will have to look him up.
"Keep your eyes on the helpers" - Mr. Rogers
Okay,

I have put together an excel file so that I can keep track of my trades on a daily basis. I used to do this on paper, so this will hopefully work out better. Anyway, I am willing to give it a try.

This may be a little difficult to follow at the start, but to me it makes perfect sense. I am only uploading it for those people that would like to follow along as I trade.

I will try to put together a little map key on the bottom of the file so that you will be able to follow along if you want to. But not tonight. Maybe in a few days, as it takes me a couple of hours every night to look at my charts, place orders and adjust stops, and by then I have just about had enough of my computer screen. In the meantime, if you have any questions, i will do my best to help.

And as always I never recommend following anyone blind. If you are going to trade along with me, at least understand why I placed my trades where I did, before you place yours. A demo account would be a fine way to follow along.

I hope you enjoy.

Damon

Attached File(s)
File Type: xls TR_01-20-08.xls   36 KB | 887 downloads
"Keep your eyes on the helpers" - Mr. Rogers
How do you know it's profitable? Do you have statistics?

Do you have some Statment of your trades?What you think make an EA?so, we'll lets see the possibilities and run some BackTests in a different pairs.

Best Regards,

Marcelo Marques
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