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Inside Bar Trading Technique

  • #41
  • Jan 21, 2008 6:30am Jan 21, 2008 6:30am
If you search the TSD forum, you can find MQ4 files that will alert you of an INSIDE BAR. There are several out there, just be sure to grab the right one by verifying the alerts.
  • #42
  • Jan 21, 2008 10:18am Jan 21, 2008 10:18am
Ok Tks,

Best Regards,
Marcelo Marques
  • #43
  • Jan 21, 2008 12:31pm Jan 21, 2008 12:31pm
Hi Damonl & Rathcoole,

I'd be happy to get the Williams data together.
Trouble is, its in hard copy. I have some ladies who use a scanner, though, and I'm sure I can sweet-talk them into helping me out.
If I can get it convert to electronic media, I'll send it along.
Plan B is I'll transcribe myself. No big deal, just a lot of data, but interesting & provacative if you really study the inter-relationships.

I'll keep you folks advised.
Yes Rathcoole, we all found the chart helpful. We're here for exchange of ideas & to learn & to help each other. If someone doesn't want to participate, then don't. But others do, so should be respected.

Damonl, sorry about the Packers.
Lets go Patriots!!

Nice to see so much interest in this thread, BTW. Hope it keeps up
  • #44
  • Jan 21, 2008 12:51pm Jan 21, 2008 12:51pm
Read Kathy's book. She has the same idea which is well defined. I have coded it and developing the idea.
Making pips is easy, holding 'em is hard - Pipsopolis
  • #45
  • Jan 21, 2008 2:08pm Jan 21, 2008 2:08pm
Quoting marcelom
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
Hello Marcello,

At the current moment I am up over 2500 pips in open live trades. You coulnd't even convince me in a million years that this doesn't work.

As for an EA, because I incorpaorate more than the Inside Bar, I believe that there is no possible way to code an EA like this unless you were a professional coder and still it would take some time.

I hate to say it, but if you can't check your charts once at the end of each day and look for an inside bar and place your orders, how do you expect to become a successful trader?

An EA is really unnecessary for this system and my even be unpractical.

Just constructive criticism......

Keep in touch,

Damon
"Keep your eyes on the helpers" - Mr. Rogers
  • #46
  • Jan 21, 2008 2:12pm Jan 21, 2008 2:12pm
Quoting sahamdarjoz
Read Kathy's book. She has the same idea which is well defined. I have coded it and developing the idea.
Kathy who and what have you coded?
"Keep your eyes on the helpers" - Mr. Rogers
  • #47
  • Jan 21, 2008 2:25pm Jan 21, 2008 2:25pm
Quoting petero
Hi Damonl & Rathcoole,

I'd be happy to get the Williams data together.
Trouble is, its in hard copy. I have some ladies who use a scanner, though, and I'm sure I can sweet-talk them into helping me out.
If I can get it convert to electronic media, I'll send it along.
Plan B is I'll transcribe myself. No big deal, just a lot of data, but interesting & provacative if you really study the inter-relationships.

I'll keep you folks advised.
Yes Rathcoole, we all found the chart helpful. We're here for exchange of ideas & to learn & to help each other. If someone doesn't want to participate, then don't. But others do, so should be respected.

Damonl, sorry about the Packers.
Lets go Patriots!!

Nice to see so much interest in this thread, BTW. Hope it keeps up
Sounds good Petero.

byw...did you vote for Brett Farve?
http://www.msnbc.msn.com/id/21036771/

Damon
"Keep your eyes on the helpers" - Mr. Rogers
  • #48
  • Jan 21, 2008 2:29pm Jan 21, 2008 2:29pm
hi Damon
GOod...if you are afirming that i need to see a chart "at the end of each day " i´m realy scare..because i´m trader since 2004 and start in this way..many and many hours front of monitor..
I can tell you with all words of world: EA works, you acepting or not.I have too many account running my EAs, some for few months without touch.
I dont convince you that this method doesnt work..who i am... i think that there is many ways of work in the forex world, i just offer a head to automated your TS , jus it.

Regards,

Marcelo Marques
  • #49
  • Jan 21, 2008 4:19pm Jan 21, 2008 4:19pm
Quoting damonl
Kathy who and what have you coded?
Kathy Lien and I have coded her Insider Day strategy.
Making pips is easy, holding 'em is hard - Pipsopolis
  • #50
  • Jan 21, 2008 5:36pm Jan 21, 2008 5:36pm
Quoting marcelom
hi Damon
GOod...if you are afirming that i need to see a chart "at the end of each day " i´m realy scare..because i´m trader since 2004 and start in this way..many and many hours front of monitor..
I can tell you with all words of world: EA works, you acepting or not.I have too many account running my EAs, some for few months without touch.
I dont convince you that this method doesnt work..who i am... i think that there is many ways of work in the forex world, i just offer a head to automated your TS , jus it.

Regards,

Marcelo Marques
As I said, I don't think you could this without great difficulty. I like EA's as well and if you are looking to code some EA's why not check out the "15 pip stratedy I got it too" thread. This would be a good one to code.

And I lied earlier, I have over 3500 pips in open trades so far, I really can't see trusting this kind of money to an automated program. Besides, I really don't mind checking over my trades a few hours every night. It really relaxes me.

However, if you would like to try and code this, I will be happy to work with you.

Cheers,

Damon
"Keep your eyes on the helpers" - Mr. Rogers
  • #51
  • Jan 21, 2008 5:41pm Jan 21, 2008 5:41pm
Quoting sahamdarjoz
Kathy Lien and I have coded her Insider Day strategy.
Nice, I have never heard of her. To think that I just thought of the Inside Bar Technique by watching my charts. It seems that a lot of other people are doing kind of the same thing.

I guess that just goes to show that we don't always have to reinvent the wheel. We just have to do what other successful trades are doing. I hope to find some time to look her up.

Are you a professional coder?

Cheers,

Damon
"Keep your eyes on the helpers" - Mr. Rogers
  • #52
  • Jan 21, 2008 5:53pm Jan 21, 2008 5:53pm
Okeedokee,

For those of you following along, it was a nice day today. AU, EU, UCAD, UCHF and GU all continued to move in our favor. It really is amazing how quickly your account balance can grow when you continue to open up multiple trades in the right direction and the price continues to move in that direction.

On the flip side those profits can quickly disappear when multiple trades are opened one way and the price decides to go the other way. That is why good money management and properly positioned stops can keep you in good profit and knowing how to read charts can then get you earning pips in the other direction.

Here is my updates for today. I have still not had time to put in a map key, but perhaps I will find some time to do that shortly. Then hopefully you will have a better picture of how things are being managed.

I missed placing a few trades yesterday because of watching the football games. So this takes discipline because when things are going your way, that is not the time to hide in the corner.

Enjoy and I'll be around.

Damon

Attached File(s)
File Type: xls TR_01-21-08.xls   37 KB | 485 downloads
"Keep your eyes on the helpers" - Mr. Rogers
  • #53
  • Jan 21, 2008 6:00pm Jan 21, 2008 6:00pm
Quoting damonl
I missed placing a few trades yesterday because of watching the football games.
Was that real football or american football?
  • #54
  • Jan 21, 2008 6:17pm Jan 21, 2008 6:17pm
Quoting sahamdarjoz
Kathy Lien and I have coded her Insider Day strategy.
Which book of hers do you suggest I read?
"Keep your eyes on the helpers" - Mr. Rogers
  • #55
  • Jan 21, 2008 6:18pm Jan 21, 2008 6:18pm
Quoting forexmoments
Was that real football or american football?
It was American football
"Keep your eyes on the helpers" - Mr. Rogers
  • #56
  • Jan 21, 2008 8:23pm Jan 21, 2008 8:23pm
Quoting damonl
Which book of hers do you suggest I read?
This is her book I found Insider Day in:
http://www.invest-store.com/cgi-bin/...c&item=3164506

This is her blog:
http://www.kathylien.com/site/

As for Coding, no I am not a professional coder.
Making pips is easy, holding 'em is hard - Pipsopolis
  • #57
  • Jan 21, 2008 8:36pm Jan 21, 2008 8:36pm
This is Kathy's insider day strategy:
1. There should be atleast two inside candles (high and low of 2 candles within the insider canlde).
2. Two pending orders 10 pips above and below the Insider day.
3. Stop is 10 pips beyond the last inside candle.
4. TP=2x SL
5. As soon as one triggered, the other has to be cancled.
6. When one is stopped out, an order should be opened at late SL, with stop of 10 pips beyond the latest high (or low) and TP=2x SL.
Here are two pictures to help getting the idea.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: id1.jpg Size: 56 KB
Click to Enlarge Name: id2.jpg Size: 61 KB
Making pips is easy, holding 'em is hard - Pipsopolis
  • #58
  • Jan 21, 2008 10:29pm Jan 21, 2008 10:29pm
Quoting sahamdarjoz
This is Kathy's insider day strategy:
1. There should be atleast two inside candles (high and low of 2 candles within the insider canlde).
2. Two pending orders 10 pips above and below the Insider day.
3. Stop is 10 pips beyond the last inside candle.
4. TP=2x SL
5. As soon as one triggered, the other has to be cancled.
6. When one is stopped out, an order should be opened at late SL, with stop of 10 pips beyond the latest high (or low) and TP=2x SL.
Here are two pictures to help getting the idea.
Thank you..It looks good, but I see a lot of missed pips in between. I appreciate that you shared this with us.

Damon
"Keep your eyes on the helpers" - Mr. Rogers
  • #59
  • Jan 22, 2008 1:00am Jan 22, 2008 1:00am
Hi all,

Here is an explanation of inside bar, and how u trade the insider bar.I hope it help a bit.thx

http://www.trading-naked.com/insidebarNR4x.htm

Cheers,
  • #60
  • Jan 22, 2008 8:38am Jan 22, 2008 8:38am
Quoting damonl
Thank you..It looks good, but I see a lot of missed pips in between. I appreciate that you shared this with us.

Damon
Hi Damon

I've been studying this and trading IBs for a while - I'll trade a b/out either side. I tend to look at 30 min charts and there's often good opportunities on the EJ and GJ. James, as I understand, focuses on the GU 15 min - at least it seemed that way a month ago.

IBs can work on any time frame from 5 min up. I wouldn't consider less than 15, and the GU 15 can chop you at times.

Would be interested to hear of your views and if you focus on particular currencies and time frames and if you only trade one side of a b/out or use any indicators to filter?

Also, while there may be indicators over at TSD, would it be useful to identify and post a good one on this thread that could be used?
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