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Inside Bar Trading

  • #1,081
  • Dec 18, 2008 11:16am Dec 18, 2008 11:16am
Quoting maximteo
Hi guys,
Just thought I'd share some ideas with you folks here..
I've been trying the IB system and what I've done to help me determine the direction to trade is to use it with the Heken Aishii Smoothed indicator together with MACD(8,21,8).

If the HA is blue and MACD is above 0, i'd look for a long trade.
If the HA is red and MACD is below 0, i'd look for a short trade.

I'm using 5 m TF
Thanks Paul, yes thats right, we are all going strictly by the rules in the first post of this thread and the all the same timeframe 30 mins. Please don't confuse new people by bringing in other indicators.
  • #1,082
  • Dec 18, 2008 11:23am Dec 18, 2008 11:23am
Quoting maximteo
Hi guys,
Just thought I'd share some ideas with you folks here..
I've been trying the IB system and what I've done to help me determine the direction to trade is to use it with the Heken Aishii Smoothed indicator together with MACD(8,21,8).

If the HA is blue and MACD is above 0, i'd look for a long trade.
If the HA is red and MACD is below 0, i'd look for a short trade.

I'm using 5 m TF

KEEP OUT
  • #1,083
  • Dec 18, 2008 11:24am Dec 18, 2008 11:24am
Thats how i'd moderate Lyn.
  • #1,084
  • Dec 18, 2008 11:31am Dec 18, 2008 11:31am
Quoting FOURX
Thats how i'd moderate Lyn.
LOL, a warning should be good first time, ban the next I don't have any banning powers though yet.
  • #1,085
  • Dec 18, 2008 11:34am Dec 18, 2008 11:34am
Wow we have some take no prisoners moderators! Like it!
  • #1,086
  • Dec 18, 2008 11:35am Dec 18, 2008 11:35am
Not sure if any of you are trading or not but I am watchin, there have been an IB or 2 on the euro, but as lynette said earlier they are scary becuase the risk is pretty big, these mkts are moving 100 pips in 5 mins its crazy, so becareful!
  • #1,087
  • Dec 18, 2008 11:37am Dec 18, 2008 11:37am
Quoting lynnette
I'm not that mean am I. Seriously, as long as we all stay on track, go by the rules of the system it should be a pretty easy job.
Lynnette,
would you be so kind to inform me/us when the room is set up? You can e-mail me from this forum. Thanks in advance. I am really eager to learn more. For the last three days I have only winners using h1h1 set up.

Plan The Trade - Trade The Plan
  • #1,088
  • Dec 18, 2008 11:39am Dec 18, 2008 11:39am
Quoting fxdummie
Lynnette,
would you be so kind to inform me/us when the room is set up? You can e-mail me from this forum. Thanks in advance. I am really eager to learn more. For the last three days I have only winners using h1h1 set up.

I know just how you feel, same here. I will let everyone know in this thread as soon as its set up and Jim has practised over the weekend using it.
  • #1,089
  • Dec 18, 2008 11:40am Dec 18, 2008 11:40am
Quoting ranger
Not sure if any of you are trading or not but I am watchin, there have been an IB or 2 on the euro, but as lynette said earlier they are scary becuase the risk is pretty big, these mkts are moving 100 pips in 5 mins its crazy, so becareful!
All of it is pretty scary at the moment, totally agree.
  • #1,090
  • Dec 18, 2008 11:45am Dec 18, 2008 11:45am
Quoting hard1head1
I cheated, I saw the momentum coming, you get used to seeing that....LOL

JIM
Of all of the things I have done to try and get better at trading, spending 2 months trading nothing but price action (no indis) on 1 and 5 min charts has helped me the most, much more than anything else. When I see an IB setup forming on 30 min, I watch my 1 min chart to watch the momentum.

Tonight I caught three of the big breaks using the 30 min IB and verifying the momentum on lower TF.
  • #1,091
  • Dec 18, 2008 11:47am Dec 18, 2008 11:47am
Quoting lynnette
I know just how you feel, same here. I will let everyone know in this thread as soon as its set up and Jim has practised over the weekend using it.
Lynette,

Do let me know as well. Kinda sad if this thread dies.
  • #1,092
  • Dec 18, 2008 12:02pm Dec 18, 2008 12:02pm
did anyone get into the last usd/chf short trade on the 30 min charts....?

it almost looks like it just clipped/touched the 3 pip short mark below the low end of the candle required for a short trade entry.

as Jim said earlier.....it might be trend-change time....almost all major currencies look to be changing trend.
  • #1,093
  • Dec 18, 2008 12:04pm Dec 18, 2008 12:04pm
Hi,

Have been learning and trading forex for the past 3 years.
Inside Bar is something I like to trade alot.
I prefer lower time frames as the range on the bars are smaller.

generally wanted to know what TP most ppl go for?
  • #1,094
  • Dec 18, 2008 12:08pm Dec 18, 2008 12:08pm
Quoting kalkal
Hi,

Have been learning and trading forex for the past 3 years.
Inside Bar is something I like to trade alot.
I prefer lower time frames as the range on the bars are smaller.

generally wanted to know what TP most ppl go for?
There are several different ways people taking profit, some just go for a certain amount of pips and are happy with that, either taking it at a support level or the 89 SMA my favourite is to put in 2 trades at the start, close one of them off at either a support level or trend line, and then let the other run with a trailing stop after moving the SL to breakeven, that seems to work very well most of the time.
  • #1,095
  • Dec 18, 2008 12:12pm Dec 18, 2008 12:12pm
Quoting dread
did anyone get into the last usd/chf short trade on the 30 min charts....?

it almost looks like it just clipped/touched the 3 pip short mark below the low end of the candle required for a short trade entry.

as Jim said earlier.....it might be trend-change time....almost all major currencies look to be changing trend.
If you mean the one about 6 bars back, on my chart it would have just missed it by 3 pips, but these bars are so huge its not worth me trying because the stop loss would be too much for my account to handle, I would have to drop the lot size to such a small amount it wouldn't really be worth the hassle.
  • #1,096
  • Dec 18, 2008 12:13pm Dec 18, 2008 12:13pm
Quoting lynnette
There are several different ways people taking profit, some just go for a certain amount of pips and are happy with that, either taking it at a support level or the 89 SMA my favourite is to put in 2 trades at the start, close one of them off at either a support level or trend line, and then let the other run with a trailing stop after moving the SL to breakeven, that seems to work very well most of the time.
Thank you for the suggestion.
Euro/Usd has given some crazy returns today based on 1min, from 1.30pm-5pm GMT.
you guys have been trading this strategy a long time, how do u find it works over time, in terms of average profit/loss?
  • #1,097
  • Dec 18, 2008 12:14pm Dec 18, 2008 12:14pm
would anyone take the current:

gbp/usd short....?

usd/chf short...?

aud/usd long...?
  • #1,098
  • Dec 18, 2008 12:16pm Dec 18, 2008 12:16pm
Quoting kalkal
Thank you for the suggestion.
Euro/Usd has given some crazy returns today based on 1min, from 1.30pm-5pm GMT.
you guys have been trading this strategy a long time, how do u find it works over time, in terms of average profit/loss?
Its certainly the most profitable I've tried, and I've tried a lot of different things Most of us haven't been trading this particular system all that long, but going on the last few weeks its doing really well.
  • #1,099
  • Dec 18, 2008 12:19pm Dec 18, 2008 12:19pm
Quoting dread
would anyone take the current:

gbp/usd short....?

usd/chf short...?

aud/usd long...?
No, no and maybe (just my own opinion) stop loss would be too big on the first two, third is just over my comfort level, also the daily pivot is just there, and its just plain scary out there at the moment
  • #1,100
  • Dec 18, 2008 12:22pm Dec 18, 2008 12:22pm
Quoting lynnette
Its certainly the most profitable I've tried, and I've tried a lot of different things Most of us haven't been trading this particular system all that long, but going on the last few weeks its doing really well.
my mentor once said to me "The art off trading is knowing when to use the right strategy at the right time"
obviously during the current climate the markets are trending, hence nice moves to take advantage off. But when things mellow out and turn more sideways, will this work as good? thats the main questions thats bothering me.
thanks for your prompt response.
price is the most important factor in trading so glad to see this thread maintains its ethics and stays true to its trading strategy.
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