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Nexas's Intraday Range Bar Trading

  • #301
  • Jan 6, 2012 6:41pm Jan 6, 2012 6:41pm
Hi Halba,

I guess I am a little aggressive although not as aggressive as I could be. Perhaps I am somewhere in between. Ultimately one of my goals for 2012 is take a slight step back and take mainly the best setups, which should increase my strike rate and hence allow me to take larger positions.

As mentioned I am really going to be taking my lead from the 8 range and use the 4 range for early entries and then add when the 8 range confirms.

Hows your trading going?

Nexas
  • #302
  • Edited 7:44pm Jan 6, 2012 6:51pm | Edited 7:44pm
Quoting Nexas
Hi Halba,

I guess I am a little aggressive although not as aggressive as I could be. Perhaps I am somewhere in between. Ultimately one of my goals for 2012 is take a slight step back and take mainly the best setups, which should increase my strike rate and hence allow me to take larger positions.

As mentioned I am really going to be taking my lead from the 8 range and use the 4 range for early entries and then add when the 8 range confirms.

Hows your trading going?

Nexas
hi nexas. good energy shown in the trades.

possible way to increase hit rate - go for the longer bar retracements, closer to the MA(but not so much MAs all over the place), and take the break of those. and do those on the 8 range chart. having said that, shorter range provided earlier and more accurate entries(and some whipsaws and unprofitable sessions, shorter stop outs) vs longer range provides bigger stop outs but larger profit but less setting up. also using some fundamentals helps -e.g. NFP day, market showed signs of clear ranging, so best to wait until clear trend.

w/ longer retracement , better risk reward, trading with the trend. you wont get many trades often. maybe have a few different instruments that trend different and have no cost spread. e.g. add XAUUSD. cmc markets offer 0.3 spread which is nothing. crude oil has a 3.5 point spread which is very little also.

taking short retracements and shorting at low areas after already gone down, not much pippage although you can get some runs(as the euro has been bleeding, anytime shorting it has worked, but in the long term may not work like this for all instruments). also you need to constantly retake small pip type trades and have many of them to cover potential stop outs also. when the eurozone issues get fixed a bit, it may not be so lucky to get further declines.


my trading is sufferring from what is called 'traders block' like writers block cant get into the trades (i.e. too much fence sitting). you need to be quicker to get into the main moves. but sometimes my fence sitting has helped, during yesterday london morning(asia evening - my time) there was only whipsaw. there was one solid long on AUD and EURUSD which was perfect for a scalp, and would've provided daily target. so market gives opportunities for every session, just need to act on them and be patient. anyway i will remain active and alert, plenty of time.
  • #303
  • Jan 6, 2012 8:16pm Jan 6, 2012 8:16pm
Hi Nexas, thanks for the great thread.Who do you use as your broker?

Regards Simon
  • #304
  • Jan 6, 2012 9:07pm Jan 6, 2012 9:07pm
Nice System, I am still playing around with it and you have to be pretty percise with drawing the trend lines. I have also added a 4 linear weighted close for more gidence. I just draw as many trend lines as per your system , but also draw trend line from the oppisite direction to get support levels. Here is a couple of pic to show what I mean , these are 4 pip range bars. Thanks again,

GrandeACM, Hi , would you mine posting your coral ma indi ?
Thanks in advance.



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Attached Image (click to enlarge)
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  • #305
  • Jan 7, 2012 4:17am Jan 7, 2012 4:17am
Hi Fishman,

Thank you for your post. Please tell me you don't trade with all of those lines on your chart at the same time?

Just keep it simple. It is always the best way :-)

If you need any help, let me know.

Thanks

Nexas
  • #306
  • Jan 7, 2012 4:19am Jan 7, 2012 4:19am
Quoting simoncar
Hi Nexas, thanks for the great thread.Who do you use as your broker?

Regards Simon
Hi Simon,

I use worldspreads for this strategy and FXCM for my longer term stuff.

Nexas
  • #307
  • Jan 7, 2012 6:19am Jan 7, 2012 6:19am
How do you place your orders Nexas? Do you have one computer running with Ninja charts and another with your brokers page open?? Just wondering as I know you have to be very quick in and out with such short timeframe trading. This is the reason I like to have" trade through" facility allowing me to trade off my charting program.

Regards Simon
  • #308
  • Jan 7, 2012 8:33am Jan 7, 2012 8:33am
Quoting Halba
my trading is sufferring from what is called 'traders block' like writers block cant get into the trades (i.e. too much fence sitting). you need to be quicker to get into the main moves. but sometimes my fence sitting has helped, during yesterday london morning(asia evening - my time) there was only whipsaw. there was one solid long on AUD and EURUSD which was perfect for a scalp, and would've provided daily target. so market gives opportunities for every session, just need to act on them and be patient. anyway i will remain active and alert, plenty...
Can I suggest you post a rangebar chart showing your trades and the issues you have, with any of your possible amendments to Nexas' system illustrated, and the difference made to the outcome. That way, Nexas can add his experience and benefit your trading, which is the reason behind this thread.
The dream will never die
  • #309
  • Jan 7, 2012 11:27am Jan 7, 2012 11:27am
Quoting Nexas
Hi Fishman,

Thank you for your post. Please tell me you don't trade with all of those lines on your chart at the same time?

Just keep it simple. It is always the best way :-)

If you need any help, let me know.

Thanks

Nexas

No Nexas, just the important ones, I can understand simple, but I can also understand , support and resistance. I was just trying to show support and resistance trend lines. It works better with 8 pip rb.

fishman356
  • #310
  • Jan 7, 2012 12:30pm Jan 7, 2012 12:30pm
Hi Nexas,

really great vids, like 'em very much!

Coud you tell please how many pips you set your SL above/below the last swing high/low?
  • #311
  • Jan 7, 2012 12:53pm Jan 7, 2012 12:53pm
Hi Olarion,

I set it at 2 pips behind the swing point, but I exit according to the chart so if the price on the chart moves 1 pip beyond then I exit manually. The 2 pip sl is a worst case scenario.

Nexas
  • #312
  • Jan 7, 2012 1:56pm Jan 7, 2012 1:56pm
Nexus

Thank you for taking the time to share your strategy with us. The videos are very helpful and simplicity of strategy so wonderful.

All the best,

Ed
  • #313
  • Jan 8, 2012 3:59am Jan 8, 2012 3:59am
Quoting simoncar
How do you place your orders Nexas? Do you have one computer running with Ninja charts and another with your brokers page open?? Just wondering as I know you have to be very quick in and out with such short timeframe trading. This is the reason I like to have" trade through" facility allowing me to trade off my charting program.

Regards Simon
Hi Simon,

My setup includes 3 screens in total. I run my charts on two of them and on the other I have my platform. So I can simultaneously watch the charts and execute which I guess achieves the trade through that you mention above.

Nexas
  • #314
  • Jan 8, 2012 5:01am Jan 8, 2012 5:01am
Quoting Ed777
Nexus

Thank you for taking the time to share your strategy with us. The videos are very helpful and simplicity of strategy so wonderful.

All the best,

Ed
Hi Ed,

Thanks for your comments. For me a simple system is by far the best system to trade :-)

If you need any help, let me know.

Nexas
  • #315
  • Jan 8, 2012 11:23am Jan 8, 2012 11:23am
Hi Nexas!

Do you know if the same rangebar setting (4/8) apply in the euro 6E futures.

Regards PG
  • #316
  • Jan 8, 2012 12:22pm Jan 8, 2012 12:22pm
Hi Pipgeneral,

I don't trade it myself but I would assume so. I believe Kipr trades the 6E so he would be the best person to confirm with.

But apply it to your chart and see what it looks like.

Thanks

Nexas
  • #317
  • Jan 8, 2012 2:18pm Jan 8, 2012 2:18pm
Hi Nexus,

Been following your thread for a while, - excellent methodology.

Can you please comment om W.S. as a broker.
Once they realise that you are profitable, have you had requotes and slippage ? Do you get instant fills ?

I'm UK based and thinking of which broker to use.

Your videos are very helpful.

Thanks
  • #318
  • Jan 8, 2012 3:24pm Jan 8, 2012 3:24pm
Hi Voyager,

I find them to be very good... so far...

Obviously you never know but for me they have been good. You need to make sure you adhere to their terms which states you should be in a trade for no less than 1 minute on average. But apart from the trades off the back of some kind of stimulant (news, etc) I find I am in trades for 5-10 minutes in any case.

Nexas
  • #319
  • Jan 10, 2012 1:52am Jan 10, 2012 1:52am
Morning One and All!

I didn't manage to trade yesterday, hence no recording and I have a few things on this morning which will prevent me from actively trading, so I will only be taking A+ setups that I see whilst I am in front of my screen which is between now and 9am UK time.

I hope you all do well!

Nexas
  • #320
  • Jan 10, 2012 1:47pm Jan 10, 2012 1:47pm
Nexas.......what exactly is your profit target. I think I read originally that it was to the prior swing low if short and prior swing high if long. It I'm not mistaken, you appear to be going for a fixed target and are now scalping. Is this correct or am I misreading what you're saying and what it appears the profits you're taking on you live trades are less than the previous swing high/low. I like your method very much. Also, it appears for the most part you either hit your target or get hit at your stop. I'm not sure but unless I have you confused, which certainly is possible, you used to get out on lets say an up candle if you were short. Thanks again for all your time you've put into this.
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