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Nexas's Intraday Range Bar Trading

  • #201
  • Dec 9, 2011 1:14pm Dec 9, 2011 1:14pm
Quoting Auron112
I just finished reading the thread and I really like what you're doing here. I'm often scouring the Factory for range bars threads these days and it's nice to see one that combines the RBs with dead simple KISS trading.

I've been dabbling in range bars myself for a couple years now but have only been using them in a very active fashion for my entries in the past couple months. M1 was my preferred entry method of choice for a long time but it seems unlikely I'll ever go back to using that alone as a range bar chart can really clear up some of...
I'd agree with that, and hand out a couple of vouches as well
  • #202
  • Dec 9, 2011 3:36pm Dec 9, 2011 3:36pm
Hi Auron,

First of all thank you for the vouches, I didn't know there was such a thing until you mentioned it and then I did a bit of research, but thank you very much it means a lot!

With regards to range bars, for me they are the best thing since sliced bread! Really I couldn't imagine not having them as part of my arsenal. I remember when I first discovered them I likened the event to the film the Matrix when Neo finally starts to "see"... and he doesn't just see people and object but the code behind it. That is how I felt after finding and trading range bars.

I know I won't be able to make money every trade or even every day but I do know that as long as I stick to my plan and follow the price I will be profitable over the long haul which is what is important.

But please feel free to post here, Kipr and I both trade slightly differently or at least different instruments but I think the input from the both of us is beneficial to the new traders so they see two different points of view, so if you feel you can help as well, please feel free to chime in from time to time.

Thanks Again

Nexas

Quoting Auron112
I just finished reading the thread and I really like what you're doing here. I'm often scouring the Factory for range bars threads these days and it's nice to see one that combines the RBs with dead simple KISS trading.

I've been dabbling in range bars myself for a couple years now but have only been using them in a very active fashion for my entries in the past couple months. M1 was my preferred entry method of choice for a long time but it seems unlikely I'll ever go back to using that alone as a range bar chart can really clear up some of...
  • #203
  • Dec 9, 2011 3:38pm Dec 9, 2011 3:38pm
Quoting medici
I'd agree with that, and hand out a couple of vouches as well
Hi Medici,

Thank you for your vouch as well! From someone with your standing in this community it is a real honour.

I hope you drop by more often.

Nexas
  • #204
  • Dec 9, 2011 3:43pm Dec 9, 2011 3:43pm
Hi Erebus,

Don't worry we all feel like that at one time or another, but the beauty with this style of trading is that the next great move is never very far away!

Keep up the good work!

Nexas

Quoting Erebus
Wasn't able to trade from late yesterday or early today, looks like the AUD-USD had great move, see some pin bars on regular 1 H, 4 H & Daily chart

On this chart, I swiched to Nexas set up with 20, 60 & 100 MA with the 200 in there for good measure

Also, trade signals from iTradeAIMS indicator

Also, looks to have hit the lower ADR according to indicator, but anything can happen when Europe & London opens, or news comes from big meeting...

PS - having typed that, looks like it is continue lower, wait for next pullback I suppose
  • #205
  • Dec 9, 2011 3:55pm Dec 9, 2011 3:55pm
goes to show u can make some pips without fancy indicators or candlestick patterns. there are many threads with these 'indicators' or candlestick patterns(which are mainly time based) and from personal experience the patterns work and sometimes dont work at all.

with this all we need are a few tools. we dont gain any advantage with indicator which lag price, all we need is simple tools(moving average, support/resistance, trend lines, bollinger bands possibly, divergence) to help us see the trend a bit better.
  • #206
  • Dec 9, 2011 4:02pm Dec 9, 2011 4:02pm
Quoting kipr
several really nice sells..on 4rg..1) @8:17:37amEST..1st 4bar + pback ..after the 20/60/100 ema stack...trader could have held the trade thru the 8:30 USA trade Balance report..since it was profitable going into the report..if you do have a lead going into a report..just tighten the trailing stop to prevent huge whipsaw.. good for 37tick+ potential..depending on how it was managed....2)8:49;02..nice tline break..with proper stack for a continuation sell...good for 29 ticks+ depending on how managed....3)8:57:38amEDT..good for 12i ..depending...
Hi Kipr,

Its funny you handle economic announcements the same way as I do. If I have some on the table then sometimes I just take a punt and tighten up my stop... worst case I go out at be or a little profit, best case I get paid very handsomely!

It was indeed a very nice days trading. There were a few losses but the winners clearly outweighed the losses. The second trade this morning actually needed two bites at the cherry, so there was one loss before the winner there.

I hope you are all getting to grips with this!

Nexas
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD - 09-12-2011 - Morning.jpg Size: 91 KB
Click to Enlarge Name: EURUSD - 09-12-2011 - Afternoon.jpg Size: 89 KB
  • #207
  • Dec 9, 2011 4:08pm Dec 9, 2011 4:08pm
Quoting Halba
goes to show u can make some pips without fancy indicators or candlestick patterns. there are many threads with these 'indicators' or candlestick patterns(which are mainly time based) and from personal experience the patterns work and sometimes dont work at all.

with this all we need are a few tools. we dont gain any advantage with indicator which lag price, all we need is simple tools(moving average, support/resistance, trend lines, bollinger bands possibly, divergence) to help us see the trend a bit better.
Indeed... keeping it simple is definitely the best way forward! I know that you can make money other ways but for me this is the least stressful and less stress is always a good thing.

Nexas
  • #208
  • Dec 9, 2011 4:32pm Dec 9, 2011 4:32pm
Quoting Nexas
Indeed... keeping it simple is definitely the best way forward! I know that you can make money other ways but for me this is the least stressful and less stress is always a good thing.

Nexas
The only problem I find with using a sloping trend line on a chart is that there's no consistency on how to draw them, unless you draw a horizontal line.
  • #209
  • Dec 9, 2011 5:02pm Dec 9, 2011 5:02pm
Quoting Nexas
Hi Kipr,


I hope you are all getting to grips with this!

Nexas
re i notice the last one short was a loss, but as it was late in the trend, it wouldn't have really qualified for a trade
  • #210
  • Dec 9, 2011 5:24pm Dec 9, 2011 5:24pm
This post is from my heart..1st thank you Nexas for sharing ...There is something outstanding about a persons character when they are willing to share and help others......sharing and learning they seem to be good partners..
2nd...I would like to thank Auron112 and Medici..for the vouchers(embarrassingly enough) I didnt know they existed..and have also read up on them..so to receive them from ya'll is very much appreciated..I will soon figure out how to get my charts posted on here( i know I'm an idiot).....but my real goal is to try to help other traders in this crazy but great business of trading..I learn from others always with an open mind..and helping is 1 way of showing gratitude....so again a humble thank you to....Auron112 and Medici
  • #211
  • Dec 9, 2011 5:35pm Dec 9, 2011 5:35pm
Quoting Musashi
The only problem I find with using a sloping trend line on a chart is that there's no consistency on how to draw them, unless you draw a horizontal line.
Hi Musashi,

I understand what you are saying but unfortunately there is no way around that. As you watch the markets you gain experience and learn to identify what looks right and slowly with time you become more consistent in identifying the better setups.

For me day trading is more of an art than a science.

At least for me I find trend lines to be a good tool and wouldn't be without them.

Nexas
  • #212
  • Dec 9, 2011 5:39pm Dec 9, 2011 5:39pm
Quoting Halba
re i notice the last one short was a loss, but as it was late in the trend, it wouldn't have really qualified for a trade
This is true but unfortunately the market presented the opportunity and I took it and would do again :-)

Of course you can wave count but its really swings and roundabouts, some times it keeps you out of losers and others winners...
  • #213
  • Dec 9, 2011 6:22pm Dec 9, 2011 6:22pm
Quoting Nexas
This is true but unfortunately the market presented the opportunity and I took it and would do again :-)

Of course you can wave count but its really swings and roundabouts, some times it keeps you out of losers and others winners...
hi nexas. yes you are right. that could've been another winner, just like in the first picture, the last one was a large winner. so u are potentially missing out on large winner, small winner or a potential stop loss if not taking trade, those are the only 3 potential outcomes. with good Money management, it may be wise to keep trading, when losses come, just move on to next setup
  • #214
  • Dec 9, 2011 6:23pm Dec 9, 2011 6:23pm
This is priceless!

An actual interview with one of my heroes... Marty Schwartz!

http://www.yousaytoo.com/marty-schwa...ew-1999/855943

You will need to have RealPlayer to open the file, but it is a free download.
  • #215
  • Dec 10, 2011 9:09am Dec 10, 2011 9:09am
Nexas..appreciate the Marty Schwartz interview...very insightful..of course its outdated in regard to Globex influence etc..and certainly we have the current market volatility..factors (more so now) than He was experiencing back in 1999...but some key things..he said were to use your words "priceless'..of particular note ..you have to have the guts to pull the trigger..that is why we use the stops..if your wrong you take a small loss..its not an ego thing of having to be "right" all the time.. when your wrong your wrong ..either get out or get stopped ..no biggie....he also mentioned "about " shifting gears' analogy....For me I never reverse a position..i like to re-evaluate..after a trade and reflect for a moment..before getting back into the "arena'..makes me observe the market more clearly..i am a scalper by nature also..so its important for a trader to recognize their own "temperament"..for others that might not be the better approach ....again thanks for digging that interview up..really enjoyed it..thanks
  • #216
  • Dec 11, 2011 9:45pm Dec 11, 2011 9:45pm
not much setup on euro. however if one simply added aud to their watchlist there were 4-5 setups already in asia using nexas strategy
  • #217
  • Dec 11, 2011 11:06pm Dec 11, 2011 11:06pm
i appreciate this strategy. i banked a positive trade out of euro just then. my first live account positive trade(too many negative trades previously). this suggests the system is easy to use and is making me less confused.
  • #218
  • Dec 12, 2011 3:45am Dec 12, 2011 3:45am
Its been a good morning for me so far with 2 winners and a loss. Both my winners were twice as big as my loss so good risk rewards as well.

I also missed two further winners...
  • #219
  • Dec 12, 2011 3:46am Dec 12, 2011 3:46am
Quoting Halba
i appreciate this strategy. i banked a positive trade out of euro just then. my first live account positive trade(too many negative trades previously). this suggests the system is easy to use and is making me less confused.
Nice going there Halba, slowly but surely the picture should start to get clearer!
  • #220
  • Dec 12, 2011 3:59am Dec 12, 2011 3:59am
yup i missed some of the other winners bcoz of dinner. i will have my laptop with me whilst im eating next time due to time zone difference, atleast i know this works, there was also a large winner on GBP as well but it seems eur is giving adequate pips. i have 3 on my screen AUD EUR AND GBP that is enough.

trade safe with the trend thats the gist of it
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