Nexas's Intraday Range Bar Trading

Agreed. Happy to see a thread dedicated to RBs with some valuable contributions.

I thought I'd share my current setup, in case somebody would find it valuable. Nexas, apologies if I am going outside of your intended thread focus here. If so, let me know.

My setup today was with RB5 and three MAs (8, 17, 30) and with a 20 pip band around the 30MA. Entries would be with a 7 pip hard SL, and a target of ideally 15+ but 10 would do on a morning like this.

Using this setup there were quite a few pips to be had this morning...

Hi Medici,

what is your entry trigger? Touch of the band?

Cheers,
Olarion

Generally close of candle, but there are exceptions to the rule.

there is a similar concept here- is it the same idea?

simple is always good
http://www.fxtsp.com/trading-strateg...-strategy.html

it is a scalping one.

Similar perhaps. But, yes, I'd be happy to do a few 15 pip trades for the daily harvest. Then, on other occasions, holding or longer is the way to go. It all depends, and generally speaking trade management is the key to profitability - entry is easy, exit is hard, so to speak.

good post Halba...I use BB on every chart..for me they help frame the price action......go to John Bollinger website and get a copy of the 22 ways to trade BBands..I have seen his presentation on this topic..and its very good material

only issue with BB is the repainting . if price breaks BB, it will continue to expand to allow the price expansion.

at the moment i dont use it, its a bit laggy indicator. i prefer bounces of S&R or S&D - just macd and stoch i use.

heres a good chart .missed because was asleep. as you can see my trade timezone - nothing happened so i didnt do much. i only do intraday trade, no swing or limit orders as anything can happen.

clear setup for 60+ pips, short, background is short. just go short anywhere near failed test of resistance. sorry no range bar as diff pc . there was also a long earlier closer to 1.30(failed break of support) all the way to 1.3042.

system : http://www.fxtsp.com/trading-strateg...x-scalper.html

http://i.imgur.com/fza8s.gif

another example AUD - pinbar @ S&D level 1.0015, bearish in daily, bad fundamental:

it dropped max 69 pips from this level. but 30 pip was obtainable immediate. on the 1minute, more pips, because more precise entry but had to be fast.

the top later i was asleep. system for this below here: http://www.fxtsp.com/trading-strateg...-strategy.html

http://i.imgur.com/9VjUP.gif

Hi,

I did not post much charts in the last days but I had plenty of winners...here is my latest one...+22 pips win with a 7 pip risk !!

PS:
Should have hold the trade a little longer...price still going up like crazy...

Well done Olarion. It's easy to see with hindsight that you could have held the trade longer, with the absence of upper wicks an indication of a strong trend, but your R/R ratio was still good and it's always good to see pips banked.

Yesterday was a good day for 8 pip Range Bars trades, with the rally and the reversal;

Hi All,

Its nice to see you are all active and doing well! I haven't really done too much, just getting ready for Christmas and and all that stuff :-)

@Olarion - Are you starting to find your consistency now?

Nexas

Hi Nexas,

yes, it seems that I'm able to bank consistent profits...at least for the last 3 weeks. Next weeks/months will show of course if it goes on like this. If not, it might not be the systems fault...everyone knows about greed/fear etc...

I trade your system exactly as you described, mainly on the 4 range. I only added some round numbers and daily pivots to filter out some bad entries sometimes.

Anyway, thanks for this wonderful system.

And have a Merry Christmas!

Cheers,
Olarion

I can clearly see the s-Constant Range Bars EA smiley face on this chart, telling me that you are running the EA, and in Live Trading mode. Are you unsure as to how to use it correctly?

Hi Nexas

I now realise that Ninja Trader is a 4 digit broker, so my point was meaningless to you. I use a 5 digit broker, which is why I posed the question.

Merry Christmas to you and all successful range bar traders.

not much happening. theres 99% ranging, and for a few short bursts it trends.

Hi Everyone!

Happy New Year!!!!!

I hope you all had a good holiday and are ready for 2012!

Expect the markets to be a little thin, at least for this first week anyway so only take perfect setups. Anything that looks a little suspect probably is :-)

I look forward to taking it to the next level in 2012!

Nexas

Hi Everyone,

Well it was a nice start to the year today with lots of opportunities to take profit. I hope you all managed to bag a few.

By the way I thought I would let you all know that over the Christmas period I analysed my trades and have found that even though trading from the 4 range as the primary chart is definitely profitable, my strike rate would have increased had I only traded 8 range setups.

Now that doesn't mean don't trade the 4 range, far from it... what it means is that if I only traded in the direction of the 8 range I would be MORE profitable. So I can get early entries off the 4 range and then add when then 8 range confirms.

You may ask why I did look at my trading... and the answer is the book "One Good Trade" by one of the guys at the prop firm SMB in the US. In it they talk about how they train their traders and the underlying theme is constant self improvement. So to get to the next level in trading you need to keep eliminating what isn't working as well and do more of what is. So this got me thinking, is there a way to improve what I already have? I know if it ain't broke don't fix it... but I thought to help myself I at least need to see. So thats what I did and that is what I found.

I hope that doesn't dishearten anyone as I am not saying just trading the 4 range isn't profitable, I am merely saying that it seems that we can be even more profitable by doing more of the good stuff.

In fact that is my trading resolution for this year, to be more humble and accept that no matter how successful you are or how good your system is, there is always something you can do to improve. Whether it be system wise or psychology or what ever. If these guys with 2 decades experience believe it is important then I sure should give it a try.

So in 2012 I am going to add a video diary as suggested in the book and see if that also helps improve my trading.

If you guys like and if I believe it is helping me I can find a way to upload them here to for all of you to see?

So again, please be positive about this post and don't read into it that I am changing my system. I am NOT, I am merely embarking on an adventure of self improvement!

Nexas

Good approach and good book

In my own testing, the hit rate improved significantly just by upping the range to 5 pips, and I now use that range only.

Hey Nexas
I, for one, would love to see a few videos. I don't post much here because I don't think I can add much to the discussion but this is one of my favorite threads and I think some videos would really push it to the next level. Thanks.
Mark

I folloved this thread for quite a long time and I must thanks every one that contributed so far in Intraday Range Bar Trading thread.
It realy helps me in my first setup of daily trade this year.

In the attachmet is my daily "Trade Of The Day" for 4. january 2012:

hi grande. your method looks a lot different to nexas. care to highlight it . thanks.