Nexas's Intraday Range Bar 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?


Hi Nexas
I have InterActive Brokers for data. I was not using the dedicated forex for session template. I switched it but still gaps in my data? Don't know why but thanks for the try!
Mark

Nexas...yes the Russell does trend really well..and it moves..especially in the morning US session..its not very good pre-market US..but from say 9:40amest-11:45 amest is a good time if you are interested in looking at the Russell..the ticks are worth $10 each..it doesn't have the volume that the 6E does..but it is liquid enough if you trade less than 20lots...appreciate your comment on sticking to 1-2 instruments..I dont know how you can track 20-30 simultaneasly..i know my "pea-sized" brain couldnt handle that as I would be a candidate for "1 flew over the cuckoo's nest" after 1 session of that type of madness..lol..I would have to go into my music room and crank the Marshall stacks to 10 just to calm down....Also as a short term price action trader the bigger time frames dont mean that much to me I do look at them..but only for context.or market landscape...keep trading well! cheers

Nice system-- I can never go back to time bars - I am big fan of rangebars

I am doing well on rangebars-- this is indeed a nice clean profitable system

A few questions -- what is pip range--
why you dont used horizontal S/R i see you only used diagonal trendlines

There are so manyways to draw a trend line - ( it is always subjective) what is minimum number of bars before u draw a your trend line - I see your chat some time 4 5 8 -- are they a minimum

Hi Zamanib,

I use horizontal lines only for congestion zone breakouts. The reason I don't at other times is when there is a pullback you can get in earlier and alot of the time you see price mess about when it gets to the orizontal levels before breaking, so I am more comfirtable getting in and out before there is any hint of trouble... do you know what I mean?

The minimum on a pullback for me is 4 bars, plus I loke the price to be relatively close to on of the MA's...

The range I use is 4 and 8.

Nexas

Hi Kipr,

The Russell sounds like a chart I should check out... I think 20 lots should suffice for now .

Yes it does send you insane trying to monitor so many. You can more than make a career from trading just a few instruments with a simple system, as long as you are disciplined. In fact you often run in to more problems trying to maintain different systems for different conditions rather than just accept that there will be times when your system doesn't do so well and during those times, protect your capital.

My advice to anyone new reading this thread, is to read the dialogue between myself and Kipr to see that keeping it simple really is the way to go. More is not better! Become a master of one type of trading and just a few instruments!

Nexas

MarkD85....I use zen-fire for my data provider....and noticed when I re-load historical data..and I am using time based charts ie..5min..and the range bars... that when I reload the data..the range bar charts dont really change but the time based bars do..but then both are then current ..so when re-loading d
hist data ..you prob need to have at least 1 time based chart open..during the reload...a quirk in ninja 7..they had this same quirk when they started @ ninja 6...then they went thru to ninja6.5 now they are ninja 7..and the quirk still exists..must be some kind of secret govenmental plot against traders..lol

a real nice picture perfect buy @ 8:14:52amEST...28 ticks on runner in about 4 min time...condition was 20 above the 60 above the 100..with a 5-6 bar pb on 4 rg...NOTE..I have noticed that if the pb has a "straight line " to it .. meaning the bars aren't "jagged" ..then the probability for a good move increases..that pullback had the angle of about 5:30 on a time clock..very nice steep angle with straight line decent...I took off the trade on the runner when I saw a red bar........NEXAS..words of wisdom in your post about.."master of 1" vs "jack of all and master of none" is critical issue for traders regardless of experience or screen time...that approach helps minimize overtrading ..and it allows the "reticular' portion of the brain to have instant recall.......ALSO...my initial trading mentor..a very wise and experienced trader...always said..."Its better to be out of the market wishing you were in..than being in the market wishing you were out"...meaning dont be ashamed if you dont take a trade..if in doubt stay out..trust me there will be another set-up just around the corner ..the market is an assembly line of opportunity..so there is no need to chase or force a trade....and sometimes we as traders hesitate and then wish we were in a trade..but its okay...just re-group and reset your focus and start "stalking" the next opportunity..and forget about what just happened..FOCUS on the NOW...enough.said

a nice trade @ 10:18:43 amEST. 4 rg...buy took the runner for 14 ticks before I covered..we had a 7 bar 'straight line ' pback.. with the good 5:30ish clock angle ....we didnt quite get up to previous resistance but when I see bars going into a potential "ledge formation'..I take the $$..

another observation...even tho I took that buy posted above I was "anxious" to cover as prior to the 5min chart.(.I use the time based charts to help me understand the price action in context.). had recently painted in a lower low swing and a higher low swing..so that indicates that there could be a change of sentiment..and if you notice after that successful trade there was quite a quick shift to the downside..just a tidbit that i hope helps

Hi,

just made 2 winning trades with this great system...last one taken on the 4 range for +12 pips.
Exited on the last swing low.

SL was 6 pips, so r/r = 1:2.

Thank you far sharing, Nexas.

Cheers,
Olarion

wtg Olarion..nice trade..can anyone help me..I have a trading computer that is just used for trading ..and then this computer for FF..Skype...email etc....and also i am not very smart with computers..basically a functioning illiterate..so my Q is how do I post "screenshots' ..and get the screenshot from my trading computer on to this computer so I can show my trades in picture form..sure would help save a big hazzle for all.???...thanks

Another nice trade (I did not take it...) A little too late after london close for me. But still good for at least + 15 pips with less than 10 pip risk.

another 4 rg sell..@12:58:19pmEST...made 14 ticks on the runner and 4 ticks on the 1st contract..=18total...(only traded 2 c's) got stopped on my trailing stop....I am in the "batters box' when I see the the transistion from + to - on the 20ema all ma's were properly aligned for a sell around 12:42pmEST....often the 1st pullback after the cross over yields a good trade....normally I'm not real fond of trading at this time of day..but today we are seeing pretty good swings..even thru the US doldrums..done for day...all toll...7 winners 1 loser..and that loser was a mstake by me..i forced the trade and paid the piper...but overall happy with today's performance...Thank Mr. Market for the cooperation and get ready for another trading day manyana.....overall today was a "tight" inside day vs yesterday(which is to be expected..after yesterday's explosion)..but there was some nice 2 sided trading ...

Hey kipr,

it's not that complicated. After saving the chart, transfer it from your trading computer to your other computer (USB stick, shared network drive etc.). Then post your chart by using the "attachments" button in the reply box, then browse and upload the saved file. That's all!

If you have any further questions, please ask.

Great trade, man. That must be the one I did not take and posted just before...

Thanks Olarion....can I use "Dropbox' to transfer image from trading computer to this computer??.. cause I am not familiar with things you mentioned in post??..sorry...but again my computer skills(or lack thereof)..are limited.....again confirming..you can be a dumbass and still extract $$ from the markets..lol

Hey man, sure...Dropbox is great...using it myself.

Nice going guys! some real nice trading going on here. The way it should be, simple but effective.

@Kipr - you mentor sounds like a wise man and he is so right. Not taking a position is effectively a position!

@Olarion - Nice to see you are doing well. One comment regarding your last trade posted that you didn't take. Be careful about taking trades that have broken and stayed above the 100 MA. They do work out but have lower probability. Things that help those trades are previous support or resistance and of course the fact that the risk reward on them are so much higher so you can afford to be wrong 70% of the time with them and still make some, but just be advised that the strike rate is as high as the more standard setups where the price is on the right side of the MA's.

BUt apart from that, some nice trading there!!!!