Nexas's Intraday Range Bar Trading | Page 20 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

3 Bar Fractal with mid-bar and bar on each side 11 replies

Change indicator narrow range bar NR4 to wide range bar WR4 0 replies

Range Bar Trading with Nexas 62 replies

How do I determine what size range bar is comparable to a daily bar? 6 replies

Pin bar, pin bar, pin bar 0 replies

Attachments: Nexas's Intraday Range Bar Trading
Exit Attachments

Nexas's Intraday Range Bar Trading

  • #381
  • Jan 18, 2012 5:16am Jan 18, 2012 5:16am
hey Nexus

Is this leading to a commercial venture? as I see you opened a journal in Oct, and now you have it with your singing and dancing video intro
  • #382
  • Jan 18, 2012 9:27am Jan 18, 2012 9:27am
Really opened my eyes with your simple, methodical and logical approach to the markets. Very well done.

I'm happy to say that I am now looking at the markets through a fresh set of eyes, which isn't easy to say for someone like me who's gone through hundreds of systems, made a lot of money and then lost even more.

Thanks for that!

-Darren
  • #383
  • Jan 20, 2012 4:21am Jan 20, 2012 4:21am
Quoting Nexas
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.
Hello Nexas,

Trust you've had a good trading day yesterday.

Just to paraphase your words above, do you mean that we should wait for a full 8 range setup (all EMAs in line), then take trades on 4 range?

or...

As you said in the 2nd paragraph, to trade 4 range and feel more confident when 8 range confirms?

Many thanks,

Kris
  • #384
  • Jan 20, 2012 8:42am Jan 20, 2012 8:42am
Hi Nexas,

The jury's still out on whether or not waiting for the stochastic helps or not (As I mentioned in a earlier post). Looking like a bit of a wash or a slight benefit to ignoring the stochastic. Win rate's higher with the stochastic filter but total profit's a bit lower. Once I have a decent enough number of trades, I'll post the results.

In the meanwhile, I've also been playing with using your 5 bar pullback trendline break for 123 reversals. This gives you a way to use the setup when the moving averages are flattening, not just trending strongly. Instead of waiting for a break of the 1 level in the 123, enter on the trendline break just as you do when the moving averages are trending. This gets you into reversals several pips sooner with only a slight drop in win rate (but more profits). I do require a MACD cross in the right direction in addition to the 123 pattern and 5 bar pullback trendline break.

There was a good example of this on the 4 range bar at 8:42 EST. Waiting for the break of the 1 in the reversal pattern would have meant waiting until 8:46 and would get you in 5 pips later (which is a lot on a 4 range chart).

Re the MACD. I don't know if you don't like indicators or just not used to using them, but remember, the 3 moving averages you use are lagging indicators just as MACD and stochastics are lagging indicators. All are based on price and time, it's just that the calculation of the moving average indicators is simpler.
  • #385
  • Jan 20, 2012 6:30pm Jan 20, 2012 6:30pm
I'm not trading the forex, but trade the 6e futures along with the emini's. Lately, the setups just aren't happening. The range on all the charts are horrible. You'd have to trade at great risk. Are you seeing the same in the forex.
  • #386
  • Jan 20, 2012 6:55pm Jan 20, 2012 6:55pm
Quoting kadiddle
I'm not trading the forex, but trade the 6e futures along with the emini's. Lately, the setups just aren't happening. The range on all the charts are horrible. You'd have to trade at great risk. Are you seeing the same in the forex.
I agree. I'm sure some will differ but the price action this past week was horrible in my humble opinion.
  • #387
  • Jan 21, 2012 10:29am Jan 21, 2012 10:29am
Hi All,

Sorry I've been away, been busy having a baby... our third in fact :-)

There are a few replies on here and I will answer all of them as soon as I can but a little busy at the moment :-).

I hope to get through them all by Monday so please bare with me.

Just wanted you all to know that I hadn't forgotten you.

Nexas
  • #388
  • Jan 21, 2012 10:40am Jan 21, 2012 10:40am
Quoting enochben
I agree. I'm sure some will differ but the price action this past week was horrible in my humble opinion.
I didn't trade the last couple of days of this week for reasons already highlighted but it doesn't look all that pretty. There were opportunities but they were difficult to trade from the looks of it.

Hopefully next week will make up for the last :-). In fact when we get a few bad days we should get excited... because it means the string of good days is fast approaching. It is after days like these that the pros make money and the new traders get frightened and start searching for new systems.
  • #389
  • Jan 21, 2012 10:40am Jan 21, 2012 10:40am
Quoting kadiddle
I'm not trading the forex, but trade the 6e futures along with the emini's. Lately, the setups just aren't happening. The range on all the charts are horrible. You'd have to trade at great risk. Are you seeing the same in the forex.
Hi Kadiddle,

Yes it hasn't been pretty!

Nexas
  • #390
  • Jan 21, 2012 10:54am Jan 21, 2012 10:54am
Quoting Nexas
Hi All,

Sorry I've been away, been busy having a baby... our third in fact :-)

There are a few replies on here and I will answer all of them as soon as I can but a little busy at the moment :-).

I hope to get through them all by Monday so please bare with me.

Just wanted you all to know that I hadn't forgotten you.

Nexas
Hey Nexas, congratulations! That's great news.

Great thread by the way, and your videos are extremely informative. Thanks very much for your time and effort.

Enjoy your family, we'll see you soon!
"Be the change that you wish to see in the world." --Gandhi
  • #391
  • Jan 21, 2012 11:19am Jan 21, 2012 11:19am
Quoting Nexas
Hi All,

Sorry I've been away, been busy having a baby... our third in fact :-)

There are a few replies on here and I will answer all of them as soon as I can but a little busy at the moment :-).

I hope to get through them all by Monday so please bare with me.

Just wanted you all to know that I hadn't forgotten you.

Nexas
Congratulations! But don't let it happen again. LOL
  • #392
  • Jan 21, 2012 1:09pm Jan 21, 2012 1:09pm
Quoting enochben
I agree. I'm sure some will differ but the price action this past week was horrible in my humble opinion.
Actually, I thought it was a lovely week. I'm kind of a trading wuss and a big believer in taking what the market gives me and not trying to force anything.
So, last week a lot of my trades were "fade the corners" trades I developed for non-trending markets. The interesting thing about this trade is that you want to trade it exactly at the times you don't want to trade Nexas' excellent trending setup, i.e., when the moving averages don't line up nicely and things are choppy (which on average happens more than half the time).

Between the hours of 4:00 am EST (the absolute earliest I ever consider getting up to trade) and noon EST, Tuesday through Friday (I didn't trade Monday), it generated 10 signals on the EURUSD 8 range chart (2 breakeven and 8 winners). I got 7 of them but was away from the computer for 3. This was a bit better than the long-term average win rate of around 70%, (been trading it about a year). Reward to risk is usually around 1.5 to 2.5. You don't get a ton of signals but it performs best (and you get more setups) when trend trades aren't working. In a strongly trending market, you get very few setups and they don't work well, but, then again, you don't need them and shouldn't take them.

For me it's a nice complement to trend trades.

If anyone's interested, I'll post the setup. It's fairly simple and last week's results are easy to verify from the charts. It's also easy to manually backtest for longer periods.
  • #393
  • Jan 21, 2012 1:34pm Jan 21, 2012 1:34pm
Quoting scjohn
.

If anyone's interested, I'll post the setup. It's fairly simple and last week's results are easy to verify from the charts. It's also easy to manually backtest for longer periods.
scjohn......I would love to hear about your setups. The averages just weren't flowing very well for Nexas's setups most of this week. Although I made money I had to scratch for it.....kadiddle
  • #394
  • Jan 22, 2012 6:56am Jan 22, 2012 6:56am
Hi Scjohn,

I have no issue with indicators at all, I just don't find I use them. I haven't ever really gotten on board with them. But if they help then of course I don't discourage them. I think if you use indicators to confirm what price is doing then they could probably be very useful. The problem is when people use them in isolation do you know what I mean?

But I welcome your thoughts and suggestions, I am not nearly arrogant enough to think I know it all :-), I just know what works for me.

Thanks for your input.

Nexas

Quoting scjohn
Hi Nexas,

The jury's still out on whether or not waiting for the stochastic helps or not (As I mentioned in a earlier post). Looking like a bit of a wash or a slight benefit to ignoring the stochastic. Win rate's higher with the stochastic filter but total profit's a bit lower. Once I have a decent enough number of trades, I'll post the results.

In the meanwhile, I've also been playing with using your 5 bar pullback trendline break for 123 reversals. This gives you a way to use the setup when the moving averages are flattening, not just...
  • #395
  • Jan 22, 2012 7:05am Jan 22, 2012 7:05am
You can do either. Your win rate will increase by waiting for 8 range EMA's to set up. It really is a personal choice, it depends on whether you are feeling aggressive or not.

For me personally, I like to watch the price and the sentiment. For example, whilst the EZ was going into the toilet I would be much more likely to take a less than perfect setup to the short side rather than the long side. Does that make sense?

Nexas

Quoting Krisdetrader
Hello Nexas,

Trust you've had a good trading day yesterday.

Just to paraphase your words above, do you mean that we should wait for a full 8 range setup (all EMAs in line), then take trades on 4 range?

or...

As you said in the 2nd paragraph, to trade 4 range and feel more confident when 8 range confirms?

Many thanks,

Kris
  • #396
  • Jan 22, 2012 7:07am Jan 22, 2012 7:07am
Quoting pilotui
Really opened my eyes with your simple, methodical and logical approach to the markets. Very well done.

I'm happy to say that I am now looking at the markets through a fresh set of eyes, which isn't easy to say for someone like me who's gone through hundreds of systems, made a lot of money and then lost even more.

Thanks for that!

-Darren
Hi Darren,

Are you a pilot too?

Thanks for your post, now all you need to do is build confidence with this system and stick to it.

It won't be perfect all the time but as long as you are consistent, it will pay you.

Nexas
  • #397
  • Jan 22, 2012 7:15am Jan 22, 2012 7:15am
Quoting Wally1953
Hey Nexas, congratulations! That's great news.

Great thread by the way, and your videos are extremely informative. Thanks very much for your time and effort.

Enjoy your family, we'll see you soon!
Thanks Wally :-)
  • #398
  • Jan 22, 2012 7:16am Jan 22, 2012 7:16am
Quoting kadiddle
Congratulations! But don't let it happen again. LOL
Haha... it wasn't my fault... she forced me!
  • #399
  • Jan 22, 2012 7:17am Jan 22, 2012 7:17am
Quoting scjohn
Actually, I thought it was a lovely week. I'm kind of a trading wuss and a big believer in taking what the market gives me and not trying to force anything.
So, last week a lot of my trades were "fade the corners" trades I developed for non-trending markets. The interesting thing about this trade is that you want to trade it exactly at the times you don't want to trade Nexas' excellent trending setup, i.e., when the moving averages don't line up nicely and things are choppy (which on average happens more than half the time).

Between...

Hi Scjohn,

Interesting post and yes by all means please feel free to share.

Nexas
  • #400
  • Jan 22, 2012 7:30am Jan 22, 2012 7:30am
Quoting FOURX
hey Nexus

Is this leading to a commercial venture? as I see you opened a journal in Oct, and now you have it with your singing and dancing video intro
Hi Fourx,

No this thread isn't a commercial venture.

Do I have outside ventures? Yes I do, but I have not brought that into this thread or forum.

However due to the question being asked and in the interest of not breaking any rules I have sent a mail to the FF Admin with regards to how I should answer the question, unfortunately they have not replied yet.

So if they come back to me and say due to my other interests I should be moved to the commercial forum then I apologize and will probably stop posting as much as it was meant to be fun.

If the videos make you feel uneasy, again I am sorry and I don't have to post them here?

If you are in any doubt about my intentions then, I invite the members who have PM'd me to to confirm that I have not solicited anything from them or even hinted at the fact.

Nexas
0 traders viewing now