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Nexas's Intraday Range Bar Trading

  • #41
  • Nov 28, 2011 7:04am Nov 28, 2011 7:04am
Hi Nexas, can you upload more charts with your entries?
  • #42
  • Nov 28, 2011 8:14am Nov 28, 2011 8:14am
Quoting waheedpcc
i`m really facing to find ninja trader can you pm or give me link to down lad i really looking for this software
Hi waheedpcc, simple google: http://www.ninjatrader.com/
  • #43
  • Nov 29, 2011 5:01am Nov 29, 2011 5:01am
Quoting Jordi
Hi Nexas, can you upload more charts with your entries?
yes i also want to learn it more closely as i have said to nexas that please make a tutorial but yet he does not do that, so at least he should upate us on every day so we can learn better
  • #44
  • Nov 29, 2011 7:49am Nov 29, 2011 7:49am
Hi All,

No problem I will upload some charts later on. I am in the middle of the session at the moment so it is difficult but I will do it a little later.

@Waheed, I am not sure if you mean to be but you are coming across quite demanding and aggressive. Please remember I am showing you this our of kindness and I am not selling you anything, hence this experience has to be enjoyable for me and if all I am going to do is get demands made on me as if you have paid me for a service then I will cease posting.

I hope you understand what I am saying. I do want to help you guys find profitability but at the same time I have my own trading to focus on among other things in life and because of this I can only update this when I have free time.

I hope you all don't take it the wrong way. I will post charts later
  • #45
  • Nov 29, 2011 8:16am Nov 29, 2011 8:16am
Nexas...I totally agree with you..it is diificult for an "actual trader" to post stuff when our job is to actually watch the market..I was a bit taken back with Waheed's comments..you are NOT required to post til you have time..and then its not a requirement..post at your convenience..and we all appreciate your posts..I will say that "impatience" shown by Waheed..might be symptomatic of lack of patience which is not a good trait for a trader...all that being said I think we had a nice sell around 8:56:17 amest.. on the 4 rg....all ma's were 'under" and we had a trendline break for a sell...which I took for 22 ticks..since I trade the currency futures ..a tick =$12.50 whereas a "pip" is worth $10..if you trade the forex...I covered the trade on a macd divergence..which is set at a 4/5/13..so it is very quick setting..and helps to manage a trade...thanks Nexas..and keep the good attitude
  • #46
  • Nov 30, 2011 2:25am Nov 30, 2011 2:25am
Hi All,

So here are yesterdays trades.

For the morning I started off with a win followed by two losses for the initial entry and then reentry at the second trend line. After that came 5 wins followed by a loss and then one more win to round off the morning. For the majority of the trades I was trading to the next support or resistance area apart from the more shallow retracements where I exited on an opposite colour candle.

For the afternoon I had three wins in a row before I called it a day as the markets failed to make a lower low and the move started to get really labored. Add that to the fact that I had already had a great day, I thought it best not to push my luck and bank the profits I had made on the day, which were considerable.

For all of the entries I am taking the break of the trend line and I am placing my stop behind the swing point. I am then either trading to the next support or resistance or trading until I get an opposite color candle. If my entry happens to fall into the same place as a previous support becomes resistance or visa versa then that is even better.

Nexas
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD_4_Range_Morning_29-11-2011.jpg Size: 88 KB
Click to Enlarge Name: EURUSD_4_Range_Afternoon_29-11-2011.jpg Size: 87 KB
  • #47
  • Nov 30, 2011 5:09am Nov 30, 2011 5:09am
Nexas ..thanks for the posts ..nice day you had..congrats..so that we are on the same page ..what time zone are you located? thNKA
  • #48
  • Nov 30, 2011 5:11am Nov 30, 2011 5:11am
Nexas that last word in my post s was supposed to be "thanks"..my keyboard has a mind of its own..lol
  • #49
  • Nov 30, 2011 5:16am Nov 30, 2011 5:16am
Nexas..you mentioned in your posts you take the "the break of the minitrendline"..to clarify are you placing "market orders' to enter the trade..thanks
  • #50
  • Nov 30, 2011 5:21am Nov 30, 2011 5:21am
Hi Kipr,

Yes indeed I use market orders. I feel better that way... perhaps I am a control freak :-).

I am located in the UK so GMT. Where are you?

So you took the same trades as me yesterday?

The markets have been very kind lately :-).

Nexas

P.S. Don't worry I feel like my whole trading station has a mind of its own at times.
  • #51
  • Nov 30, 2011 6:07am Nov 30, 2011 6:07am
Nexas...so you are across the Pond..i'm am in Atlanta..so its Eastern Std time for me ..I think we are 6hrs diff..so for me to trade the 6E at the London open and forward I have to get up and be ready @ 3;00amest..which is quite early for "normal" human beings..That is something I have never been accused of being..:-)...well market orders guarantee a fill..but you often get some slippage..i actually trade the currency futures thru the CME vs the forex..I pay $5 round trip..I like the futures better than forex..but the charts are almost identical..with some slight difference in price vs the "spot " forex..i took several of the trades you posted..but I also have another set-up that I look at..and yesterday was a good day..i have learned to be humble during the good days and thank the markets for cooperating..but with a 5 day ADR running at about 150 there are always going to be some nice trades ..if the trader exercises patience ..and doesnt force the marginal looking trades...Cheers..mate,,thanks
  • #52
  • Nov 30, 2011 6:40am Nov 30, 2011 6:40am
Nexas,

Although I trade a different method, I really like your simple & concise approach. Simple is best in this business.

_______________________
  • #53
  • Nov 30, 2011 7:41am Nov 30, 2011 7:41am
Quoting kipr
Nexas...so you are across the Pond..i'm am in Atlanta..so its Eastern Std time for me ..I think we are 6hrs diff..so for me to trade the 6E at the London open and forward I have to get up and be ready @ 3;00amest..which is quite early for "normal" human beings..That is something I have never been accused of being..:-)...well market orders guarantee a fill..but you often get some slippage..i actually trade the currency futures thru the CME vs the forex..I pay $5 round trip..I like the futures better than forex..but the charts are almost identical..with...
Lol its good to be different! I trade the eminis as well using the same method.

We will have to come to an arrangement where I will trade the UK morning for you and you can do the US for me :-)

Thanks for contributing to this thread I am sure many of the readers are happy to have input from two traders with similar approaches!

How long have you been trading in total now? Or did you start with Range bars?
  • #54
  • Nov 30, 2011 7:42am Nov 30, 2011 7:42am
Quoting acetrader
Nexas,

Although I trade a different method, I really like your simple & concise approach. Simple is best in this business.

_______________________
Thank you acetrader! Simple definitely is best, it keeps the guessing out of the game.
  • #55
  • Nov 30, 2011 8:14am Nov 30, 2011 8:14am
wow what an explosion...amazing what a little central bank collusion can create..lol......hell of a move...Nexas ..I have been trading the futures full time now for about 6 years..prior to I traded equities..got tired of the constant search for hot stocks so as I matured as a trader..the " 1 trick pony" approach I found to be better for me..I have looked at time bars..vol, tick, renko, range ..etc..but i have settled on a combo of time based bars and range bars..i still feel many traders look at the 5 min..which is an important chart to me.I also look at the 1 min chart...and I look out further meaning 15-30-1hr..4hr..daily and weekly..but really only use the range bars..when i am getting ready to pull the trigger< i like them in that they smooth out price action and they make for consistency on entery of market..which is always an issue when using time based charts...6E is my fav..but I also will trade the Russell..and the NQ and occ. gold and oil..I used to trade the ES mini exclusively but i got tired of the backing and filling characteristic of the ESand quit trading it about 3 years ago..I dont jump around into markets chasing the hottest trending market ..I just like to focus on 1 or maybe 2 simultaneously as I tend to make less mistakes with this approach
  • #56
  • Nov 30, 2011 3:29pm Nov 30, 2011 3:29pm
Nexas and Kiper
Really good stuff here. Thanks for sharing. Here is a question for both of you. Have you looked into hammers and shooting stars using range bars? At just a glance, when taking trend into consideration, they seem to be more reliable than the ones based on time charts.

I'm new to NT and can't figure out how to reload historical data for range bars. As long as the platform is connected, everything is good and it builds the chart fine. But when I start the platform and connect (to IB) I have a big gap in my data. The "reload all historical data" is greyed out but when I switch to time frame charts all the data is there! I don' t get it.

Thanks for the great discussion and helpful hints.
Mark
  • #57
  • Nov 30, 2011 4:16pm Nov 30, 2011 4:16pm
Nexas, thanks very much for sharing your method.

Just a quick question. When you say you take profits at S/R, do you mean the last swing high/low on the chart that you're trading from, or do you look at longer term S/R such as 4 hr. and daily?

Thanks. I like what you're doing here, very simple and based on PA. Good work!

--Wally
"Be the change that you wish to see in the world." --Gandhi
  • #58
  • Dec 1, 2011 2:03am Dec 1, 2011 2:03am
Hi Mark,

Thank you! To be honest no I haven't, but I can imagine that they would be more reliable as they are actually based on the price rather than some arbitrary moment in time. Remember candlestick patterns are meant to show the emotion in the market and the fight between the buyers and sellers, so a range bar would show you exactly that for the particular range. However we must lso remember that most trades still use time bars or volume bars so when we are taking our signals it is not necassarily the case that the rest of the market are. Whether that is a good or a bad thing I don't know but what I do know is I could never go back to trading a time chart as my primary entry chart. I hope I haven't confused you with that response.

But in any case the one thing I can tell you is that range charts do clear up the price action and do allow you to get into trades which you can expect to react almost immediately in the majority of cases which is good on the psychological aspect of trading.

Regarding the gap, I am not sure I can help you there as I have never experienced this. Have you looked at the session template? You need to use the dedicated Forex one. Who proivdes you with your data?

Nexas

Quoting markd85
Nexas and Kiper
Really good stuff here. Thanks for sharing. Here is a question for both of you. Have you looked into hammers and shooting stars using range bars? At just a glance, when taking trend into consideration, they seem to be more reliable than the ones based on time charts.

I'm new to NT and can't figure out how to reload historical data for range bars. As long as the platform is connected, everything is good and it builds the chart fine. But when I start the platform and connect (to IB) I have a big gap in my data. The "reload all...
  • #59
  • Dec 1, 2011 2:07am Dec 1, 2011 2:07am
Quoting Wally1953
Nexas, thanks very much for sharing your method.

Just a quick question. When you say you take profits at S/R, do you mean the last swing high/low on the chart that you're trading from, or do you look at longer term S/R such as 4 hr. and daily?

Thanks. I like what you're doing here, very simple and based on PA. Good work!

--Wally
Hi Wally,

Generally it is on the chart I am trading although I do at times peak at the 5 or 15 minute or 8 range. What I do is I watch the price at the level on the chart I am trading and if it blasts through I will look at another chart, but if it stalls a little, I will just take the money off and wait for a new opportunity.

I personally don't pay too much attention to anything above a 1 hour as when I am trading so close to the price, I don't find trading a daily all that much help for direction. I only use something like that to identify key levels.

Price is King and simple makes the game easier to play :-)

Nexas
  • #60
  • Dec 1, 2011 2:14am Dec 1, 2011 2:14am
Quoting kipr
wow what an explosion...amazing what a little central bank collusion can create..lol......hell of a move...Nexas ..I have been trading the futures full time now for about 6 years..prior to I traded equities..got tired of the constant search for hot stocks so as I matured as a trader..the " 1 trick pony" approach I found to be better for me..I have looked at time bars..vol, tick, renko, range ..etc..but i have settled on a combo of time based bars and range bars..i still feel many traders look at the 5 min..which is an important chart to me.I also...
It was very nice... but I missed it as I don't trade during the UK lunch hour (11 - 13:30)

I have never traded the Russell, whats it like to trade? Does it trend nicely?

I completely agree with you about the one trick pony stuff. There was a time in my life when I would literally try to day trade 30 diferent instruments and I always found I was late to a move, or missed a move and took the only instrument that didn't move and all of that kind of a thing.

But since I have been focusing on day trading just a few instruments I find I can be more consistent in my trading and take the majority of my setups which means I am giving my edge the best chance of achieving its full potential.
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