Attachments: "Katana Trading Strategy"

"Katana Trading Strategy"

#421
Jan 20, 2012 8:54am Jan 20, 2012 8:54am

Auron112
Joined Mar 2009 | Status: Trader | 411 Posts

Musashi, mate, why didn't you tell me you had a new thread?!

I haven't really been tracking anyone or following anything other than Medici and Islander's thread for a while so I had no idea. Great to see more fantastic range bar charts out of you!

As you no doubt know (think I saw you lurking in Euro Morning thread) I've pretty much converted entirely to range bars myself. Still a few time-based things I hang on to but not much these days. I'll hit you up on Skype one of these days so we can talk range bars again. Last time we chatted I think I was still trying to figure out a way to implement it properly with my own trading style.

Anyways, it now looks like I have some new reading material for the weekend. Looking forward to it!

#422
Jan 20, 2012 9:28am Jan 20, 2012 9:28am

dan89
| Joined May 2010 | Status: Trader | 1,100 Posts

Quoting FelixFX

Disliked

Im following this system and also twitter posts. Works perfekt. easy and clear way to make money

Ignored

Yeah im following him on twitter but it seems the system is not doing so good at the moment. Quite a number of losses since trades were made live. Still following though, loosing trades will always occur

#423
Jan 20, 2012 9:48am Jan 20, 2012 9:48am

FelixFX
| Joined Mar 2011 | Status: Trader | 391 Posts

for me its still perfect. I found my own setup and take only low risk trades

Poshcom

#424
Jan 20, 2012 10:10am Jan 20, 2012 10:10am

kofix11
Joined Dec 2011 | Status: Trader | 887 Posts

Quoting Auron112

Disliked

Musashi, mate, why didn't you tell me you had a new thread?!

I haven't really been tracking anyone or following anything other than Medici and Islander's thread for a while so I had no idea. Great to see more fantastic range bar charts out of you!

As you no doubt know (think I saw you lurking in Euro Morning thread) I've pretty much converted entirely to range bars myself. Still a few time-based things I hang on to but not much these days. I'll hit you up on Skype one of these days so we can talk range bars again. Last time we chatted I think...

Ignored

Hi, I would also like to build my charts on range bars but it is not working on my MT4. Do I need to change some settings within MT4 to make it work? Thanks for your help.

#425
Jan 20, 2012 10:34am Jan 20, 2012 10:34am

paapi
| Joined Jul 2010 | Status: Never Guess | 124 Posts

Quoting kofix11

Disliked

Hi, I would also like to build my charts on range bars but it is not working on my MT4. Do I need to change some settings within MT4 to make it work? Thanks for your help.

Ignored

Hi,

the rangebar script needs to go into experts folder, open an MT4 1 min chart, load the script, set the range you want (5, 6, 8, 10 pips, etc.,), set the timeframe you want like m2, m3, m4, m6 (apart from the custom mt4 periods) go to file-open offline, select the period you'd selected.., like if u'd set the rangebar script as 2 min for eur/usd, search for" eurusd, m2" and open it and that is it. hope this helps.

#426
Jan 20, 2012 10:47am Jan 20, 2012 10:47am

kofix11
Joined Dec 2011 | Status: Trader | 887 Posts

Quoting paapi

Disliked

Hi,

the rangebar script needs to go into experts folder, open an MT4 1 min chart, load the script, set the range you want (5, 6, 8, 10 pips, etc.,), set the timeframe you want like m2, m3, m4, m6 (apart from the custom mt4 periods) go to file-open offline, select the period you'd selected.., like if u'd set the rangebar script as 2 min for eur/usd, search for" eurusd, m2" and open it and that is it. hope this helps.

Ignored

Great description paapi. Thanks!
But where do I get the rangebar script? Thanks

#427
Jan 20, 2012 11:22am Jan 20, 2012 11:22am

paapi
| Joined Jul 2010 | Status: Never Guess | 124 Posts

Quoting kofix11

Disliked

Great description paapi. Thanks!
But where do I get the rangebar script? Thanks

Ignored

You'll have to purchase one if you want a reliable rangebar script

at mqlservice.net

#428
Jan 20, 2012 11:30am Jan 20, 2012 11:30am

FelixFX
| Joined Mar 2011 | Status: Trader | 391 Posts

pm me I will send y

Poshcom

#429
Jan 20, 2012 1:50pm Jan 20, 2012 1:50pm

dan89
| Joined May 2010 | Status: Trader | 1,100 Posts

Quoting paapi

Disliked

You'll have to purchase one if you want a reliable rangebar script at mqlservice.net

Ignored

Or just simply type "s-constant range bars" into google.

#430
Jan 21, 2012 2:33am Jan 21, 2012 2:33am

FelixFX
| Joined Mar 2011 | Status: Trader | 391 Posts

I use s-constant range bars as well

Poshcom

#431
Jan 22, 2012 3:37am Jan 22, 2012 3:37am

Harry123
| Joined Jul 2008 | Status: Trader | 272 Posts

Where is Masushi? Why stopped posting?

Harry

#432
Jan 22, 2012 10:49pm Jan 22, 2012 10:49pm

Musashi
| Joined Feb 2009 | Status: Trader | 1,626 Posts

Quoting Harry123

Disliked

Where is Masushi? Why stopped posting?

Harry

Ignored

I'm still around mate.

I've been having a difficult time trading at the moment, I haven't been able to put as much screen time into trading as what I normally would like. Hence my trading is suffering somewhat.

This strategy doesn't give too many opportunities to trade in a day, and if you get a loss, then you miss the next trade which is a winner... well you know what happens then.

Therefore I'm about to implement a very short term trading plan, which means I'll only have to be in front of the screen for the european open.

This short term trading plan involves price closing above below moving averages around the open.

Using Renko on very small bars.

I'm still going to monitor the 10 Pip Range Bars for opportunities as well.

#433
Jan 22, 2012 11:08pm Jan 22, 2012 11:08pm

Harry123
| Joined Jul 2008 | Status: Trader | 272 Posts

Thanks Mushasi, nice to see that you are still around. I like your strategy and have been tracking since the begining.

Have a nice day.

Harry

#434
Jan 23, 2012 1:22am Jan 23, 2012 1:22am

Musashi
| Joined Feb 2009 | Status: Trader | 1,626 Posts

Quite simply it will be called Wakizashi Trading System, and it will be using Renko Bricks, 2 Pips in size.

Two moving averages and once price closes above or below both moving averages, then trade in that direction.

The direction for the trade will be short if price approaches the xx00, xx25, xx50 and xx75 levels from beneath them, and long if it approaches the xx00, xx25, xx50 and xx75 levels from above them.

In this way, trade away from the xx00, xx25, xx50, xx75 levels.

Exit for this strategy is going to be using the next close above the moving averages, with an initial hard fixed stop loss of 15 pips.

However the exit is going to be alot less than 15 pips in most cases, this stop loss of 15 pips is there to calculate the position size, and it's a hard stop loss in case you lose power and cannot access your trading platform.

Both moving averages tuning red indicating a short, and both moving averages turning blue indicating a long.

Once price comes back the vicinity of the xx25 xx50 xx75 and xx00 levels.

I hope this makes sense.

This will be only good when trading around market open times, as we know prices will move...

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#435
Jan 23, 2012 1:26am Jan 23, 2012 1:26am

Musashi
| Joined Feb 2009 | Status: Trader | 1,626 Posts

Price retraced above the moving averages but closed below them, so still stay short.

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#436
Jan 23, 2012 1:35am Jan 23, 2012 1:35am

Musashi
| Joined Feb 2009 | Status: Trader | 1,626 Posts

Just move the stop down to a level just above the price levels, to protect captial. Keep losses small and let winners run as long as potentially possible.

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