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Nexas's Intraday Range Bar Trading

  • #241
  • Dec 14, 2011 6:20pm Dec 14, 2011 6:20pm
Quoting Halba
hi jordi. all mt4 broker can have range bar see post #25, and dukascopy is not the best spread, the best spread on the majors is pepperstone

my AUD/USD spread is as low as 0.2 pip during london

re = can work in ranging market just go counter trend and play S&R and ignore flag break
Hi Halba, I've never said that dukascopy has the best spread, i've only suggested an alternative to metatrader and ninjatrader.
  • #242
  • Dec 15, 2011 5:17am Dec 15, 2011 5:17am
Hi All,

I hope you have all had a good week... I have had a tough couple of days. NOt sure whether it is the Christmas season that is distracting me or just that the markets are out to get me but something is going a miss lol

Anyhow I have managed to hover a round break even so not to much of a disaster, just frustrating... but you know what... that is trading for you! Nothing you can do to get away from it...

We just have to take the next trade!

Nexas
  • #243
  • Dec 15, 2011 6:58am Dec 15, 2011 6:58am
Nexas you have a good attitude..when we churn our accounts..it feels like a drawdown..,,mentally..I have noticed that since we are in such a big picture trend down..that when we do get a positive stack..20 above the 60 above the 100..that the price action can create a quick snapback so therefor right now I am more apt to take profits quickly against the big picture trend..which to me is clearly hammer down for now....that being said I took a 4 rg buy @ 7:31;09amEST..18 total ticks on 2lot..covered into oscillator diverg..and took a buy @7:48:26amEST..t-line break..19 ticks 2 lot...and covered too quickly again wanting to lock profit quickly due to market condition..
  • #244
  • Dec 15, 2011 7:48am Dec 15, 2011 7:48am
Yup it is indeed in a huge down trend... I managed to crawl back into positive territory for the week, which I am taking as a little victory after the week I have had so far :-)

You had a good week so far kipr?
  • #245
  • Dec 15, 2011 8:58am Dec 15, 2011 8:58am
Nexas ..i've done okay no real world beaters....been pretty quick to take profits as seems like every other minute there is another piece of dynamic news coming out of the IMF..EFSf..ECB..all the finance ministers..and the rest of the world idiots..gees what a friggin mess..but with all that stuff that jerks the charts around ..I've been trigger happy to lock profits....but hey can you blame me
  • #246
  • Dec 15, 2011 9:09am Dec 15, 2011 9:09am
No I can't I think you have done the right thing...

I am back in positive territory for the week now which is good. It has been a little rough but as long as you persist you will be ok in the end!
  • #247
  • Dec 15, 2011 9:20am Dec 15, 2011 9:20am
good deal Nexas....happy for ya..sometimes clawing ,,scratching, and fighting back slowly is a good strategy..1 thing I learned tho..thru the school of hard knocks ..dont swing for the fence or try to get it back all at once ..just keep betting small and..the law of probabilites, based on a robust trade plan..and consistant execution is the best medicine
  • #248
  • Dec 15, 2011 9:47am Dec 15, 2011 9:47am
good deal Nexas....happy for ya..sometimes clawing ,,scratching, and fighting back slowly is a good strategy..1 thing I learned tho..thru the school of hard knocks ..dont swing for the fence or try to get it back all at once ..just keep betting small and..the law of probabilites, based on a robust trade plan..and consistant execution is the best medicine
  • #249
  • Dec 15, 2011 9:51am Dec 15, 2011 9:51am
sorry for double post..brain has a slight malfunction...I couldnt tie my shoe laces and chew gum at same time..and then realized I was wearing loafers...
  • #250
  • Dec 15, 2011 11:29am Dec 15, 2011 11:29am
ROFL!!!!!!! That tickled me :-)

Yah swinging for the fences to make it all back is definitely not the way to go, as your strike rate decreases and you end up compounding your losses. Often it is better just hitting singles until you get your mojo back.
  • #251
  • Dec 15, 2011 1:01pm Dec 15, 2011 1:01pm
if you miss big moves, you will get whipped. anyway an inexperienced trader like me made 5/5 trade this week so this can be done

i use range bar charts for my trigger first, but stick to m1,m5 for entry

tips - need to increase tp profit target a little more, all my trade ran further before bouncing
  • #252
  • Dec 15, 2011 1:53pm Dec 15, 2011 1:53pm
Quoting zpiders
For those using metatrader, the indicator I attached will create a range bar chart.
There are all sorts of implications involved in distributing this material on FF. I suggest you remove it before the copyright owner becomes aware of it.
The dream will never die
  • #253
  • Dec 15, 2011 2:17pm Dec 15, 2011 2:17pm
Range Bars are great for the visual learner. One of the beauties of trading Range Bars is that you can tweak the size of the bars to fit the specific rhythm of each instrument. And they can be used not only for scalping, with larger bars and larger SLs and TPs.

Here is a 20 pip bar chart for the EU.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 15th Dec.PNG Size: 85 KB
The dream will never die
  • #254
  • Dec 15, 2011 2:43pm Dec 15, 2011 2:43pm
only issue larger bars give absolutely nothing in terms of trade signals during a ranging market condition, however it gave some nice signals above
  • #255
  • Dec 15, 2011 5:26pm Dec 15, 2011 5:26pm
Quoting Halba
only issue larger bars give absolutely nothing in terms of trade signals during a ranging market condition, however it gave some nice signals above
You still get signals; they aren't as good and need filtering. Here is a fuller picture.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 15th Dec full pic.jpg Size: 101 KB
The dream will never die
  • #256
  • Dec 16, 2011 3:17am Dec 16, 2011 3:17am
The markets just want to annoy me this week :-) Not moving anywhere! Two trades this morning so far... one winner and one loser, but a net profit result.
  • #257
  • Dec 16, 2011 3:54am Dec 16, 2011 3:54am
Hi Nexas

Perhaps my only concern with using Range Bars is the gap between the close of one bar and the open of the next bar. I think the theory is that the next tick past the range bar size should trigger the open of the new bar, but at times this gap seems to have had a minimum size of 1 pip on the range bar script I use, although not always. This has the effect of adding to your costs.

Is this the same with the range bars on Ninja Trader? If so, do you take any measures to compensate? I use orders on my spreadbetting account which is feasible with large range bars, but with a minimum distance of 5 pips between the price and an order I wouldn't be able to do this using 4 pip bars. I'd be interested in your views.
The dream will never die
  • #258
  • Dec 16, 2011 4:05am Dec 16, 2011 4:05am
not much happening here nexas either . there was a clear winner of AUd @ resistance, my fat finger at it again!! you got to be quick though, only a few seconds reaction time - spinning top clear short for 30 pips
  • #259
  • Dec 16, 2011 4:44am Dec 16, 2011 4:44am
Quoting Brotyboy
Hi Nexas

Perhaps my only concern with using Range Bars is the gap between the close of one bar and the open of the next bar. I think the theory is that the next tick past the range bar size should trigger the open of the new bar, but at times this gap seems to have had a minimum size of 1 pip on the range bar script I use, although not always. This has the effect of adding to your costs.

Is this the same with the range bars on Ninja Trader? If so, do you take any measures to compensate? I use orders on my spreadbetting account which...
That is the correct behaviour, a new bar is only created once a the range has been exceeded. Yes I know you could talk about fractional pips but, to be honest it makes no odds to me. I only enter once you get a break of 1 pip anyway. I use market orders as I like to be in front of the screen when my trades are on and ready :-)
  • #260
  • Dec 16, 2011 4:46am Dec 16, 2011 4:46am
Quoting Halba
not much happening here nexas either . there was a clear winner of AUd @ resistance, my fat finger at it again!! you got to be quick though, only a few seconds reaction time - spinning top clear short for 30 pips
Nice trade Halba! Its nice to see you are doing well!

I couldn't trade half as profitably as I do trading just time based charts! Range bars all the way!!!!
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