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Musashi Trading Journal Using Range Bars

  • #61
  • Oct 27, 2010 4:26am Oct 27, 2010 4:26am
Resistance at the 25 level... previous resistance in the market... price failed to make a new high LH, sold under the low, hit TP at the 00 Level.
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  • #62
  • Oct 27, 2010 4:31am Oct 27, 2010 4:31am
Statement...
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  • #63
  • Oct 28, 2010 2:20am Oct 28, 2010 2:20am
+0.75% on this trade

note would of been more if i didn't move my stop down... oh well that's trading..
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  • #64
  • Oct 28, 2010 2:24am Oct 28, 2010 2:24am
+0.77% on this trade...
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  • #65
  • Oct 28, 2010 2:27am Oct 28, 2010 2:27am
Statement...

+1.54%
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  • #66
  • Oct 28, 2010 7:59am Oct 28, 2010 7:59am
I have been trying to figure out your entries..i get the levels...00,25,50,75..

How are you determining your entries..

Please expain.

dojirock
  • #67
  • Nov 2, 2010 1:53am Nov 2, 2010 1:53am
....here is an educational video of Range Bars, at first he gets the description wrong about where the bars close, but when he zooms in, I think he realiazed his mistake...

Oh well, better than nothing if you never seen Range Bars, but really much difference in his short time charts.....

http://kurtosistrading.com/public/RBvsTC/RBvsTC.html
Canadian by birth Australian by choice
  • #68
  • Nov 2, 2010 2:44am Nov 2, 2010 2:44am
Quoting TheSnowman
....here is an educational video of Range Bars, at first he gets the description wrong about where the bars close, but when he zooms in, I think he realiazed his mistake...

Oh well, better than nothing if you never seen Range Bars, but really much difference in his short time charts.....

http://kurtosistrading.com/public/RBvsTC/RBvsTC.html
Yep that's them.

Each bar is 'x' pips in size... you choose whatever you want.
  • #69
  • Nov 14, 2010 9:29pm Nov 14, 2010 9:29pm
Quoting Musashi
Hi everyone,


I primarily trade around the 00 25 50 75 levels in the market.

That is 1.5000 1.5025 1.5050 1.5075 as an example.

Enjoy
hey guys, excuse my deep ignorance, could some please explain me about this levels. Can I find it in some indi? , some link to learn about?
thanks in advance . . .
Humble & Kalcker CLO2 = Covid killer
  • #70
  • Nov 14, 2010 10:14pm Nov 14, 2010 10:14pm
Use this indicator to draw the Horizontal Lines spaced every 25 Pips.

Set the H.Grid Pips to 250 for 5 Digit Brokers

Change the colors to one green and one red to distinguish them.

Hope it helps.
Attached File(s)
File Type: mq4 Grid_v2.mq4   4 KB | 421 downloads
  • #71
  • Nov 14, 2010 10:22pm Nov 14, 2010 10:22pm
Subscribed. Mushashi, I'm interested in how you manage trades once they are live. For me these are more vexing than entry itself. For example, how do you differentiate a profitable trade that takes say 12 versus say 32? Via the use of trailing stops or just manual close out based on a case-by-case reading?

With trades in draw down, do you ever close out before the SL?
Thank you Crucial Point, Bleek, Trizzle, Darkstar
  • #72
  • Nov 14, 2010 10:55pm Nov 14, 2010 10:55pm
Quoting Musashi
Use this indicator to draw the Horizontal Lines spaced every 25 Pips.

Set the H.Grid Pips to 250 for 5 Digit Brokers

Change the colors to one green and one red to distinguish them.

Hope it helps.
if this was for me, YES, thank you very very much
Humble & Kalcker CLO2 = Covid killer
  • #73
  • Nov 15, 2010 11:14pm Nov 15, 2010 11:14pm
Quoting dojirock
Hi Joyy,

Sorry about that, I have a heiken ashi bar overlay, i use to use to keep me in a trade longer....range bars are underneath... I will remove from future charts.

dojirock
hello Dojirock,

What is mean by vertical lines shown in your chart.and what does no 1,2,3 indicates,also in your right corner it shows how much range remain ,which indi you used for your setup.
  • #74
  • Nov 16, 2010 1:00am Nov 16, 2010 1:00am
Quoting dojirock
Hi Joyy,

Sorry about that, I have a heiken ashi bar overlay, i use to use to keep me in a trade longer....range bars are underneath... I will remove from future charts.

dojirock
Can you please explain the what mean by numbers shown in your chart and vertical lines
  • #75
  • Nov 16, 2010 6:44am Nov 16, 2010 6:44am
Quoting Musashi
I have no particular reason for why using 7 and 15 pip bars.

You can use whatever you wish to use.

The same patterns are evident on all, however i feel that anything under 7 is just not worth using.

It's purely up to you.

15 Pip is good for trend direction and 7 Pip is good for entries.

I'm primarily a scalper though and target around 12-35 pips on anyone trade.

Typically the next price level is my target exit, combined with previous support/resistance levels.

The exit strategy is one thing that I cannot fully automate,...
Hi Musashi, just a simple question, have you 2 screens to see in one CRB7 and another with CRB15? in two Pc? in the same MT4 platform and you swich between both and if this is the case, can CRB able to allow that?
Wish you the best of the best
Humble & Kalcker CLO2 = Covid killer
  • #76
  • Nov 16, 2010 7:57am Nov 16, 2010 7:57am
Quoting jusiur
Hi Musashi, just a simple question, have you 2 screens to see in one CRB7 and another with CRB15? in two Pc? in the same MT4 platform and you swich between both and if this is the case, can CRB able to allow that?
Wish you the best of the best
I have 2 screens, one instance of MT4 displayed on one screen and another instance of MT4 displayed on another screen.

One screen displays the 7R charts and another screen displays the 15R charts.

Just install MT4 to 2 different folders on your Hard Drive, then use the same login details on each instance of MT4 and you can use both simultaneously.

Hope this helps.
  • #77
  • Nov 16, 2010 9:51am Nov 16, 2010 9:51am
Quoting Musashi
I have 2 screens, one instance of MT4 displayed on one screen and another instance of MT4 displayed on another screen.

One screen displays the 7R charts and another screen displays the 15R charts.

Just install MT4 to 2 different folders on your Hard Drive, then use the same login details on each instance of MT4 and you can use both simultaneously.

Hope this helps.
Not only that, copy it to an external drive or USB, take it on the road with you, all your indicators, templates and run it on another computer.........

http://www.forexfactory.com/showthread.php?t=22087
Canadian by birth Australian by choice
  • #78
  • Nov 16, 2010 10:33am Nov 16, 2010 10:33am
Musashi, thank you very very much, it works perfect !
I´ll continue learning of you . . . continue with your exelent work
Humble & Kalcker CLO2 = Covid killer
  • #79
  • Nov 16, 2010 10:36am Nov 16, 2010 10:36am
Quoting TheSnowman
Not only that, copy it to an external drive or USB, take it on the road with you, all your indicators, templates and run it on another computer.........

http://www.forexfactory.com/showthread.php?t=22087
Woww !! amazing advice, ThAnKs a LoT Too . . .
Humble & Kalcker CLO2 = Covid killer
  • #80
  • Edited 6:09pm Nov 16, 2010 5:52pm | Edited 6:09pm
Quoting Musashi
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.
Ok, Ok, I´m acknowledge that I am excited with your strategy , I´ve been follow, study and applying for the last three weeks . . . , all because I only trade with RB.
IF I don´t bother you () want to ask you, How you calculate the R:R, or how you feel what it´s appropriate? do you calculate the No. of pips FROM the suggested entry TILL the next level and if matches with you want take the trade, otherwise not?
have seen in the charts that the closer trade starts beginning level, the more likely you are to get better R: R, am I right?
The SL point I undestand.
Thanks again . . .
Humble & Kalcker CLO2 = Covid killer
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