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Nexas's Intraday Range Bar Trading

  • #161
  • Dec 7, 2011 2:18am Dec 7, 2011 2:18am
Hi Halba,

Nice trades, the only thing I would say is that had it not been for the trend line you drew I would have switched to the 8 range as the pull back was a little too much and it seemed like the price was finding resistance.

But other than that it was a good oppostunity especially for the risk reward.

Nexas

Quoting Halba
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
  • #162
  • Dec 7, 2011 2:21am Dec 7, 2011 2:21am
Hehe... now that would be telling. I went to AIU its an international school more than anything.

I will be happy to come to your graduation party when it comes :-)/

Your absolutely right we should have fun, so I will task you with that responsibility :-)

Well old chap, I hope you have a jolly good day and one looks forward to conversing with more in the future (He says with a tweed jacket and top hat on)

:-)

Quoting thunderwolf
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...
  • #163
  • Dec 7, 2011 2:23am Dec 7, 2011 2:23am
Quoting No Agenda
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.

I just really need the market to halt a little before jumping in. Yes if they breach the 100 EMA and stays the other side for too long I move to the 8 range for confirmation.

Nexas
  • #164
  • Dec 7, 2011 2:25am Dec 7, 2011 2:25am
Hi Krmo,

No you didn't bore us at all, it always nice to hear of a persons journey!

We welcome you here to our humble abode and look forward to your contributions. You seem like you are doing things properly so I have no doubt you will be successful!

Nexas

Quoting krmo
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...
  • #165
  • Dec 7, 2011 2:32am Dec 7, 2011 2:32am
hi nexas price is most important in a ranging market, if u buy to high u get whipped out

risk reward ratio(RRR) most important thing in trading i reckon

notice lots of ppl making mistakes on FF - shorting AUDUSD for instance or EURUSD, but at those levels they short its only around medium level, not high %. i used to make those silly mistakes not anymore.
  • #166
  • Dec 7, 2011 4:32am Dec 7, 2011 4:32am
Hello all posters & readers,

I dabble with Range Bars from time to time, looking to supplement my main strategy which is longer term, some excellent posts here lately, hopefully I can pick up some tips and maybe help others also, thanks guys.

Here is my current chart setup and watching the EUR-USD, must be waiting on news or all traders gone home, very narrow range day, possible big move later in the week, any ideas?

Thanks, E.
Attached Image (click to enlarge)
Click to Enlarge Name: 0001.jpg Size: 124 KB
It takes a lot for me to IGNORE you, but you can try.
  • #167
  • Dec 7, 2011 4:42am Dec 7, 2011 4:42am
absolutely no range to work with today. okay for a range trader buying at the extremes
  • #168
  • Dec 7, 2011 5:32am Dec 7, 2011 5:32am
Nexas, I have completed my first trading session using your methodology. I like the simple, yet powerful premise it is build on namely the bare minimum of indicators to ensure you trade with the trend. The range bars also seems to keep the noise to the minimum making it emotionally easier to trade.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2011-12-07_1232.png Size: 59 KB
Click to Enlarge Name: 2011-12-07_1244.png Size: 47 KB
Much depend on luck, but the more you practice the luckier you get! NT & GP
  • #169
  • Dec 7, 2011 6:00am Dec 7, 2011 6:00am
had a decent winner..6:11:52amEST..entry(waited til after German Ind prod report)covered @ 6:21:22..as price looked to be in a mini ledge formation..I dont like sitting on trades when the momentum seems to have stalled...with 2 lot got 16ticks total.....again I trade the currency futures and not the forex..so the #'s dont perfectly match to forex but the same idea..when a stall seems to appear..I usually tighten the noose on the runner....and if the price turns back hard (after I get stopped out)its a bit of a guess..in this case it turned out to be the right move as the retrace came all the way past my entry...but its a guess at best as often I will do that and price just pauses and leaves me in the dust..and then you feel stupid....a trader should learn to trust their intuition..or gut..
  • #170
  • Dec 7, 2011 6:18am Dec 7, 2011 6:18am
Quoting kipr
had a decent winner..6:11:52amEST..entry(waited til after German Ind prod report)covered @ 6:21:22..as price looked to be in a mini ledge formation..I dont like sitting on trades when the momentum seems to have stalled...with 2 lot got 16ticks total.....again I trade the currency futures and not the forex..so the #'s dont perfectly match to forex but the same idea..when a stall seems to appear..I usually tighten the noose on the runner....and if the price turns back hard (after I get stopped out)its a bit of a guess..in this case it turned out to...
Nice trade, kipr!

I saw that one forming but did not take it due to lunch time in Europe (low volatility).

I took another trade in the morning for +30 pips...so I am waiting now for NY open to take further trades.

Cheers,
Olarion
  • #171
  • Dec 7, 2011 6:44am Dec 7, 2011 6:44am
wtg..Olarion...nice trade
  • #172
  • Edited 7:01am Dec 7, 2011 6:49am | Edited 7:01am
Quoting kipr
wtg..Olarion...nice trade
Thanks kipr, cannot post charts in the moment...busy at work in the office...

Could not resist...took another perfect one on the 4 range for quick +12 pips.

PS:
I am trading via TeamViewer on my notebook at home...
  • #173
  • Dec 7, 2011 7:56am Dec 7, 2011 7:56am
Quoting Olarion1975
Thanks kipr, cannot post charts in the moment...busy at work in the office...

Could not resist...took another perfect one on the 4 range for quick +12 pips.

PS:
I am trading via TeamViewer on my notebook at home...
Just took another nice one for +12 pips...money is coming in now...
  • #174
  • Dec 7, 2011 12:03pm Dec 7, 2011 12:03pm
Just took profit on 2 trades where I added another position as I saw a second setup forming...

Both were on EU on the 4 range chart for a total of another +50 pips!!

PS:
Result for today: +104 pips

See chart below:
Attached Image (click to enlarge)
Click to Enlarge Name: nexas_eu long.gif Size: 22 KB
  • #175
  • Dec 7, 2011 12:22pm Dec 7, 2011 12:22pm
Hi Olarion:

I see that you use Oanda Meta trader like me. I tried the indicator posted in second page but didn't work. Are you using the same indicator? Thanks ...
Quoting Olarion1975
Just took profit on 2 trades where I added another position as I saw a second setup forming...

Both were on EU on the 4 range chart for a total of another +50 pips!!

PS:
Result for today: +104 pips

See chart below:
  • #176
  • Dec 7, 2011 12:24pm Dec 7, 2011 12:24pm
Quoting FX_California
Hi Olarion:

I see that you use Oanda Meta trader like me. I tried the indicator posted in second page but didn't work. Are you using the same indicator? Thanks ...

Hi,

yes I use the one posted here, but it is an expert advisor. So you have to put it into the experts folder and use it accordingly.
  • #177
  • Dec 7, 2011 1:17pm Dec 7, 2011 1:17pm
Olarion..is kicking ass and taking names ..wtg
  • #178
  • Dec 7, 2011 1:33pm Dec 7, 2011 1:33pm
Quoting kipr
Olarion..is kicking ass and taking names ..wtg
Thanks, man...I hope you drilled the market, too...but I believe you did...
  • #179
  • Dec 7, 2011 1:43pm Dec 7, 2011 1:43pm
nice winners. olarion there were more pippage in gbpusd today
  • #180
  • Dec 7, 2011 3:02pm Dec 7, 2011 3:02pm
Quoting Halba
nice winners. olarion there were more pippage in gbpusd today
Thanks....might be, but I don't trade other pairs than EU...
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