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Inside Bar Trading Technique

  • #81
  • Feb 6, 2008 3:07pm Feb 6, 2008 3:07pm
Hello....

Just wanted to let you know that there was an update to the 1st page today.

Cheers,

Damon
"Keep your eyes on the helpers" - Mr. Rogers
  • #82
  • Feb 7, 2008 4:47am Feb 7, 2008 4:47am
hi damonl, just picked up 100 pips on the gbp/chf. using yesterdays ib sell trade opened at 2.1455. have 2 sep trades going so will t/p at 100, leave the other 100 to run and if oz falls into line, i may add another position with a s/l of 50. rippa
  • #83
  • Feb 7, 2008 9:53am Feb 7, 2008 9:53am
Quoting brisvegus
hi damonl, just picked up 100 pips on the gbp/chf. using yesterdays ib sell trade opened at 2.1455. have 2 sep trades going so will t/p at 100, leave the other 100 to run and if oz falls into line, i may add another position with a s/l of 50. rippa
That is awesome. I am also in a very nice trade from EU that already gave me my first T/P of 150 with the other position still open short and we can all see what happened today.

It is a good system. make sure that you practice letting part of the trade or a 2nd order continue if you think it will because if you always T/P too soon, when you take a loss it may wipe out all profits.

Congrats, I think that you will find there are many more winning trades in your future.

Cheers,

Damon
"Keep your eyes on the helpers" - Mr. Rogers
  • #84
  • Feb 7, 2008 12:13pm Feb 7, 2008 12:13pm
I know this is not your system but I have attached an EA I had made for me a while ago it uses several other Bar Patterns feel free to have a play.

Cheers
Attached File(s)
File Type: mq4 ButtNakedBarTrading.mq4   15 KB | 1,197 downloads
  • #85
  • Feb 7, 2008 7:46pm Feb 7, 2008 7:46pm
well that would be the first thing i ever got from a kiwi for free. thanks alot for that and i will put it on my charts if i may.
  • #86
  • Feb 7, 2008 8:12pm Feb 7, 2008 8:12pm
Quoting Kiwi06
I know this is not your system but I have attached an EA I had made for me a while ago it uses several other Bar Patterns feel free to have a play.

Cheers
Thanks Kiwi.......

I am hoping to have a look at it over the weekend.

Cheers,

Damon

P.s. I love the name.....
"Keep your eyes on the helpers" - Mr. Rogers
  • #87
  • Feb 7, 2008 8:44pm Feb 7, 2008 8:44pm
Noticed in one of your earlier threads you made mention of some books that you felt would be of benefit to read. however i can't seem to locate the titles. i would assume that one would be Bill Williams' book which i have read several times. appreciate your help.
  • #88
  • Feb 8, 2008 10:11am Feb 8, 2008 10:11am
Quoting Kiwi06
I know this is not your system but I have attached an EA I had made for me a while ago it uses several other Bar Patterns feel free to have a play.

Cheers

Hi Kiwi06,
I was wondering if you can make that script more like an alert and bar color to appear on the chart. So that way we can see when those bars appear? I like trading off the 5 or 15min charts?

If not then how would you suggest I change the settings for this timeframe?

Much appreciated.
  • #89
  • Feb 8, 2008 11:47am Feb 8, 2008 11:47am
Gidday joe

No I can't due to the lack of coding experience. but I will ask someone to make a mod to it
  • #90
  • Feb 9, 2008 4:56pm Feb 9, 2008 4:56pm
Quoting gnspdr33
Noticed in one of your earlier threads you made mention of some books that you felt would be of benefit to read. however i can't seem to locate the titles. i would assume that one would be Bill Williams' book which i have read several times. appreciate your help.
Thanks gnspdr33...I had forgotten that I mentioned them and will put then back on the first page.
"Keep your eyes on the helpers" - Mr. Rogers
  • #91
  • Feb 9, 2008 4:59pm Feb 9, 2008 4:59pm
For any of you following along, we had many insde bars form on Friday and so we should expect many pairs to break out away from these consolidations into waht may be some very nice runs.

Happy trading,

Damon
"Keep your eyes on the helpers" - Mr. Rogers
  • #92
  • Feb 10, 2008 5:13am Feb 10, 2008 5:13am
Hi Damon,

Thanks, I certainly am following along and will be looking out for all those inside bars in the morning. Let's see what happens this week.

Oromis.
  • #93
  • Feb 10, 2008 9:32pm Feb 10, 2008 9:32pm
I have been working extremely hard to find the best way to handle trailing stops, etc when I am in a trade.

When I get my mother thread going, all things will be listed on my excel spreadsheet for you to view. In the meantime I have just made an update to the first page of this thread in regards to T/P and trailing stops.
"Keep your eyes on the helpers" - Mr. Rogers
  • #94
  • Feb 11, 2008 12:53am Feb 11, 2008 12:53am
Thanks for the heads-up.
  • #95
  • Feb 11, 2008 9:35pm Feb 11, 2008 9:35pm
Some trades triggered today and one got stopped out and triggered in the other direction. It seems that most pairs seem to be a little sleepy right now.

The Inside Bar technique as well as my other trading methods can position you to be in the right place when she is no longer sleepy and it is time to move.

Stay tuned...lots of pips on the horizon.
"Keep your eyes on the helpers" - Mr. Rogers
  • #96
  • Feb 11, 2008 9:36pm Feb 11, 2008 9:36pm
Quoting Oromis
Thanks for the heads-up.
You are welcome
"Keep your eyes on the helpers" - Mr. Rogers
  • #97
  • Feb 12, 2008 5:46am Feb 12, 2008 5:46am
Hi Damonl, in regards to sunday candles. are they part of the picture to, as some move 20 or 30 pips and almost assures an inside bar from the previous day. i have used them this week so far and done really well from them but i thought i better check with you. really the ones that dont move really at all should be skipped and use earlier days. gj gu ej moves a little. thanks for you great work. im on every day buddy so dont feel your alone. its a great thread. steve
  • #98
  • Feb 12, 2008 9:57am Feb 12, 2008 9:57am
Thank you Damon for your systems, ideas, and trading spreadsheets.

Could you elaborate on how you add additional trades following an Inside Bar breakout?

Glen



Quoting damonl

But I have learned the power of adding on additional trades one the trend has been defined and a break out doea occur. This allows me to add on other positions as the price continues to moves in my direction. I think that is the most valuable thing anyone can do as a swing trader.
  • #99
  • Feb 12, 2008 11:16am Feb 12, 2008 11:16am
This is the kinda threads that I like to see on FF, the non-indicator threads! I am very interested in this and will be using this strategy on a demo account.

And if your other strategies are like this one... well lets just say that I hope nothing comes down from my underwear when I see them . Cant wait for you to post them.

Just 2 questions:
1) As I've understand it, you will open to pending trades and you don't close the other once the first has triggered, which means that you will be along the ride to the other side?
2) Could you please tell us more about how you add to your position?

Keep up the great work! And I will try and post my demo trades, if that's ok.
  • #100
  • Feb 12, 2008 1:09pm Feb 12, 2008 1:09pm
[quote=damonl;1810360]Okay, this will be pretty crude and you will have to count arrows, but I will walk you through a few trades on the chart below.

Here is a view of the EUR/USD.]

Hi Damonl : Your explanations with the arrows on the trades is very useful. Thank you for sharing that with us. However, I have two questions.

1) Arrow 1 shows the first IB. You use that to set up the long and short positions. However, the candle after this one is also an IB. Do you ignore that? Is there a limit on the body of the candle for that to be a valid IB?

2) Suppose you are about arrow 9 and still the first IB is valid. If you are stopped out, how do you choose your long or short entries? The point is that you are far from the original IB candle and entries based on that candle become improbable (or perhaps not as useful).

Thanks for the information.
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