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Musashi Trading Journal Using Range Bars

  • #41
  • Oct 26, 2010 5:06am Oct 26, 2010 5:06am

Can you please post the indicator with the ADR ?
It looks to me that you are using some version of
smC4 Scalpers idicator.
Can you please post the version you are using+your setting ?
In order to see the "scalpers" bars do you need to switch from
candlesticks to bar chart ?
Thanks for posting and sharing
David

Quoting Musashi
Hit resistance at the 75 Level... Price was past it's ADR (Average Daily Range)

Looked for a reversal Pattern.

Hit Support Zone so exited +18 Pips.

+0.77% increase to equity
  • #42
  • Oct 26, 2010 5:12am Oct 26, 2010 5:12am
Quoting david4u

Can you please post the indicator with the ADR ?
It looks to me that you are using some version of
smC4 Scalpers idicator.
Can you please post the version you are using+your setting ?
In order to see the "scalpers" bars do you need to switch from
candlesticks to bar chart ?
Thanks for posting and sharing
David
I've moved away from that Scalper Candles Indicator and started using an RSI based one instead. I have decided that RSI is the best momentum indicator to use.

This will paint the bars blue or red depending on what setting you use.
Attached File(s)
File Type: ex4 rsi chart bars.ex4   3 KB | 460 downloads
  • #43
  • Oct 26, 2010 5:25am Oct 26, 2010 5:25am
Thank you Musashi
Do you mind sharing your settings ?
Can you tell the name of the ADR indicator ?
Tks !

Quoting Musashi
.... started using an RSI based one instead. I have decided that RSI is the best momentum indicator to use.

This will paint the bars blue or red depending on what setting you use.
  • #44
  • Edited 5:44am Oct 26, 2010 5:31am | Edited 5:44am
Use this one for ADR and projected targets based on ADR and the current daily high/low price.

Very good indicator.

RSI is just set at overbought and oversold 50 RSI period at 14.

I must say overbought to me, means trend is up... and oversold means trend is down... hence the use as a momentum indicator.
Attached File(s)
File Type: ex4 LFL-ATRprojections.ex4   6 KB | 401 downloads
  • #45
  • Oct 26, 2010 6:43am Oct 26, 2010 6:43am
Same deal.. resistance at the 00 level, wait for a pattern and then shorted.

Targeting next support level lower.
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  • #46
  • Oct 26, 2010 6:46am Oct 26, 2010 6:46am
EU... +14 Pips
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  • #47
  • Oct 26, 2010 6:54am Oct 26, 2010 6:54am
+15 Locked Away

+27 TP
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  • #48
  • Oct 26, 2010 6:59am Oct 26, 2010 6:59am
Take notice of price at the 00 25 50 75 levels in the market... That's about all I can say.

The rest is up to you...
  • #49
  • Oct 26, 2010 2:03pm Oct 26, 2010 2:03pm
Statement.
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  • #50
  • Oct 26, 2010 4:07pm Oct 26, 2010 4:07pm
Hi Musashi,

What range bar are you using. do you find certain pairs are better than others?

Nice trading...

dojirock
  • #51
  • Oct 26, 2010 11:31pm Oct 26, 2010 11:31pm
Quoting dojirock
Hi Musashi,

What range bar are you using. do you find certain pairs are better than others?

Nice trading...

dojirock
Primarily 7 Pip and 15 Pip Bars, and no I don't find any particular pair is better or worse than any others.
  • #52
  • Oct 27, 2010 1:56am Oct 27, 2010 1:56am
+0.99% increase from +20 Pips
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  • #53
  • Oct 27, 2010 1:59am Oct 27, 2010 1:59am
-0.5% from -5 Pips
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  • #54
  • Oct 27, 2010 2:14am Oct 27, 2010 2:14am
+1.3% from +34 Pips
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  • #55
  • Oct 27, 2010 2:19am Oct 27, 2010 2:19am
+1.8% overall 3 trades.
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  • #56
  • Oct 27, 2010 3:46am Oct 27, 2010 3:46am
Took EU long as described in the chart for +22 p .
Could have done better ...
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  • #57
  • Oct 27, 2010 3:48am Oct 27, 2010 3:48am
Quoting david4u
Took EU long as described in the chart for +22 p .
Could have done better ...
Trading is not about doing better... it's about taking profits on average greater than the losses you take...

I was too concerned with the possible resistance at the 00 level and the previous support so I would not risk going long into it... the potential R:R was not in favor.
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  • #58
  • Oct 27, 2010 4:03am Oct 27, 2010 4:03am
Musashi
Can you explain in this chart what was your trigger.
I can see an entry after the 3rd LH .
In LH1 & LH2 , the bar before the LH was blue , meaning that rsi(14) was still above the zero.
Is this the reason you waited for the 3rd LH ?
Tks
David
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  • #59
  • Oct 27, 2010 4:11am Oct 27, 2010 4:11am
Quoting david4u
Musashi
Can you explain in this chart what was your trigger.
I can see an entry after the 3rd LH .
In LH1 & LH2 , the bar before the LH was blue , meaning that rsi(14) was still above the zero.
Is this the reason you waited for the 3rd LH ?
Tks
David
Hope this helps explain how and why...
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  • #60
  • Oct 27, 2010 4:23am Oct 27, 2010 4:23am
Sold under the swing low... stop above the highs...

Loads of resistance at those levels... petty easy to see.

Price will typically bounce between these levels in the market...

00 25 50 75

Armed with some simple bar patterns and S/R levels in the market... it's all you need.
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