Nexas's Intraday Range Bar Trading

Hi Nexus,

Great system have been messing around with Renko lately but these Range Bars give a different view.

Could you post Charts for todays trades

Cheers,

Eamonn.

Nexas.... congrats on a proftiable day...you must have already paid for the newest bad-assed computer with today's gift from Mr market...btw Marty Schwartz is the definition of a real and great trader...the Pitbull confirms that hard work, determination, and success attitude..is a real formula..he has my utmost respect

As i`m seeing that you`re one of most active person in this thread and trying to help other can you make a vieo tutorial about nexas strateg it`ll be a leading act

waheed...I am here to try to help and point out stuff..but I am just a humble trader..dont know how to make video's or instructional films..and if I did it would only confuse ..as Nexas is trading the Euro/usd pair and I am trading the euro futures currency so there is some minor discrepancies in the price although the charts will be very similar..also.. just observe the posts and be patient..and READ the charts..there is no magic formula..identify the set-up..and if you like it take the trade and use good risk control..and $management..and understand that not every trade will be successful..but the probabilities are there for successful growth of your working capital...that is the beauty of Nexas's approach..the ole KISS..I have a few things that I use for "feel good" confirmations..but they are not absolutely necessary..and I will continue to share as I can...

Hi Nexas,
Just wondering how you came to settle on the size of the range bars ? Have you experimented with different ranges like 6 & 12 or 5 & 10 ? I've been looking for a good range bar system for quite a while now and I really like what you've presented here. It's really a good strategy!

By the way, I would never have guessed you were from the UK since I couldn't detect a British accent from reading your posts...lol Take Care....T-Wolf

traders... I hit em twice "back to back" in a tight sideways type market..buys as the ema's were stacked properly..12:11pmEST..14ticks total(2 lot)...covered with red candle..and 1/2candle wick at top..and 13:24 12 ticks total(2lot)..this is a good example of sideways trading..I will hit em twice in that type of market condition ..and have found that more often than not if there is a 3rd set-up I pass..as it is my theory that by the time everytrader can figure out the sideways the market manipulators change ..or shift lanes to trap Mr. Retailer..it is a scalp technique..I take 1 off at 4(meaning you have to get to 5 to bank 4) and let 1 run with a very tight stop..and then get out at any warning ..ie red bar..reversal bar and red..or a top of range...etc....so its not get rich type trading but a good technique to bank a few...if you notice the next "cycle" when price got o the support area they went thru support thus trapping some weak hands,,@ 13:53pmedt..and then the 20 ema's rolled over below the 60..so it is important to not just "assume" that price was going to go back up...the mini-tlines help in keeping you out a bad trades more often than not...hope it helps

Guys, here is my little contribution to someone who like to add 3 EMA's as histogram on chart.

hi kipr possible to post ure charts today on which ones u took thanks. no need to post any text u gave ure reasoning

system one uses needs to be simple.

re: 20 ema going below 60 ema what does that signify, sorry am bit new.

i always use TLs or lines/patterns , but its on the m1,m5 charts, sometimes they break valid, sometimes break/retest, sometimes just plain false break before shooting up

Haha, you couldn't detect it from my posts... and what does a british accent read like? I am intrigued...

Its funny some people say I don't have a typical british accent when I speak either, perhaps because I went to an American University.

Regarding the range bars... For each instrument, I simply apply the 4 to start with which I have found via trial and error to be the best for short term trading. Then if the chart looks to choppy I go up and work my way from there until I find a range that works well with the MA's and defines trends nicely.

Nexas

Kipr,

Great job there with the trades! Nice explanations as usual!

Nexas

hi there was also a 3rd one kipr, but it was below the EMAS, but if u draw rising trend line u could see there was a bounce at minor support.

not too risky as good risk to reward ratio, provided u ignore the emas and followed the rising TL and went long after 1 bull candlestick bounce of support.

the 3rd one was almost a home run - 32 pips see attached chart

there was also an earlier one, same situation, but not as many range bars to qualify.
http://i42.tinypic.com/14s3gh.gif

Hello guys ... sorry i Did not read all the posts. I just looked at the pictures/images . And it's look like a flag trending trade setup which is a highly profitable trading setup...

Keep the good work...

Aahh, that explains it. You went to an American University! What school did you go to? I went to the school of Hard Knocks,I'm still trying to graduate....LOL

A British accent might read like this if a Brit got a margin call, "What the Bloody Hell just happened" or when a British trader is finished trading for the day he might say "That's me, done for the day"......anyway, it's all in good fun and thanks Nexas for your input on determining range bar size.

Stay tuned for more humor because I believe we should have fun when we're trading, anyway ,that's the way I roll {American accent} LOL...T-Wolf

attached similar system but on timeframe charts. whats ure opinion nexas. i tested it, it does give some good scalps

but timeframe charts are noisier, but u need a trend

on the two below, it gave 2 good winners(time when published unknown)

http://i39.tinypic.com/xqmfc7.gif
http://www.fxtsp.com/trading-strateg...-strategy.html

Habla.good observation hope you took the trade..I didnt as the 20ema on my chart dipped below the 20ema and on top of the 100ema..but again I trade the currency futures and not the spot forex....on my charts we did have 2 more set-ups with the stacked ema's but by then i was burned out..since i was trading since 5amEST..I do this to allow me to enjoy a lifestyle and not be a slave to the markets....i also had already banked a nice day..and i didnt want the risk of giveback..

Thunderwolf..good attitude..and if it aint fun it aint worth..doing..most human beings perform better with a light heart...everytime i look in the mirror ..i realize that i have to have sense of humor..or i would have some serious issues..lol.. a very successful trader once told me"everything is funny when you make lots of money'...as it should be..that being said its cocktail time here in the good ole south

hi kipr. you are a good trader. it is nice to be relaxed, as these charts its reasonable commitment, but not as intense as say an m1 chart.

a hint for you kipr, there is a broker with zero spread on EURUSD spot if u wish send me a pm, they are good provider and offer 0 spread eurusd usdjpy. worth a look.

you only pay 1 pip spread(total incl. buy and sell) in a winning trade

Nexus I had a question about the pullbacks you are looking for. You said on the 4 range bar setting you are looking for a pullback of at least 4 bars. Are you looking for 4 bars of direct pullback, or can the 4 bars overlap? Also, does it matter if the pullback violates any of the EMAs?

Thanks! Still following with interest.

Hi Kipr,
Glad to hear you have a sense of humor too, but I don't think you have any serious issues. My suggestion....Get a new mirror! Go enjoy your cocktail Kipr. I don't drink so I think I'll just have a beer.....T-Wolf

Nexus,
Excellent thread going here. Nice to find a like minded trader.
I think I have found a new home!!!
I will share why.

I have been trading on and off for the last 9 years. The first 2 years in the stock market until I found Forex.
I have been following Forex Factory since I started and was a "Kumo Warrior" on the "Ichimoku Forever" thread.

I have run the gambit - purchased all the systems, read all the books, blown 2 live accounts, tried every indicator, etc......
My best performance was years ago when I traded without indicators and just used good old chart patterns.
I turned an $1,000 account into $16,800 in just under 7 months.
This is not bragging as you can guess how I did it.
Yes, I over leverage the snot out of my trades. Very poor Money management. Maybe good trade management?
Ah, who am I kidding! Just plain luck!

Actually my cat entered a short trade on the USDCAD once and it turned into a decent winner!

When the US economy tanked so did my business (self-employed architect) and I ended up taking out all but $500 to pay some life expenses.
Lost site of my trading and have been hit or miss for the last year doing the novice holy grail search.

A few months ago I decided to take a step back and analyse my past experience and what truly worked for me.
PRICE ACTION, trendlines and S/R levels.
And most important Money Management and Trade Management (yes, I seperate the two).
That is it.

I decided to look at what truly would show me price action and I discovered Renko and Constant Range Bars. I have been doing studies with both and they both work. Similar but different.
I opted for CBR's....
I have tried different Range sizes and combos as some else mentioned. I ended up with 3 pip and 9 pip.
I also have a standard candle chart up to monitor what the herd/ mass of traders are watching and to look for longer term S/R zones.

This has brought me full circle in my trading.
Back to what IS REAL and now or in the moment!!!
I am currently putting in writing my business plan and methodology.
No, really, I am doing it!
I have started my trading log, but going to reorganize it.
I take a screen shot of the setup forming (to recall what I was looking at), my entry and my take profits and final exit. Do a write up after trading hours.

I just need to decide what my real trading hours are going to be as I am working full-time (no not for myself anymore).

My last change will be getting switched to a futures based broker and using Ninja.

Kipr,
Great posts. You seem to be another trader that is proffesional in his trading. I agree with you on the futures (6E) aspect. I have tried a Mirus demo. I need to learn a little more in regards to the futues market, contracts and the amount of equity truly needed to get started. But then I am there...

The only advantage of staying with my IBFX account is the mini and micros as I am still trying to recover with the economy.

For the Metatrader users you can download for free a great CBR EA from this link:
http://www.surefiretradingchallenge.com/crb-K17kvXN/

There are 3 choices
Use the middle one - Click Here To Download The Constant Range Bars EA Installer
It will auto install for you, you just have to tell it where your Metatrader is when asked. Then follow the instructions. Remember it is an EA not an indicator and only runs when the markets are open.
You can also download the manual.

Hope to be able to contribute in the near future, but will be watching until then.

Thanks
KRMO

P.S. - Sorry if I bored anyone, just excited to find like minded traders. Good PIPS to all....!