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Nexas's Intraday Range Bar Trading

  • #421
  • Jan 24, 2012 7:13am Jan 24, 2012 7:13am
Quoting scjohn
Getting older (reflexes aren't what they used to be) and, being basically lazy I only trade the EURUSD forex pair. It tends to move nicely with great liquidity and has very low trading costs. Trading only one pair is why I developed the fade the corners trade -- to have something to trade when things are spotty.

I can make more than I need just trading EURUSD during the U.S. session from 8:30 am EST to about 11:30 am EST, so that's usually what I do. However, sometimes (especially if there's news), I'll trade London from about 4:00 am EST (or...
Nice
  • #422
  • Jan 24, 2012 9:06am Jan 24, 2012 9:06am
Quoting zamanib
There are so manyways to draw a trend line - ( it is always subjective) what is minimum number of bars before u draw a your trend line - I see your chat some time 4 5 8 -- are they a minimum
All of Zamanib's posts should be seen in the context of him having gone over to the dark side.
Attached Image
The dream will never die
  • #423
  • Jan 24, 2012 10:07am Jan 24, 2012 10:07am
Quoting Brotyboy
All of Zamanib's posts should be seen in the context of him having gone over to the dark side.
Mate, what happened to you? You have sent 5 posts about the dark side within 1 hour!
  • #424
  • Jan 24, 2012 11:10am Jan 24, 2012 11:10am
Quoting FOURX
hey scjohn

Any chance you could attach a chart showing your trades, it would be a big help.

Thanks
I did not start taking Nexas trades until after 9:50 EST yesterday as, although the MAs on the 8 pip and 4 pip lined up okay, upward momentum was obviously fading before then. I seldom take trades against Big Mo. Yesterday it cost me a couple of winners and saved me from a couple of losers, so overall it cost me a bit. This morning staying with Big Mo helped me quite a bit. Like the stochastic filter, it may end up not helping in the long run, but staying with Mo is in my comfort zone at least for now. Once Big Mo got on board, I started taking Nexas trades.

If you click on the chart below, it will become big enough to read.

Attached Image (click to enlarge)
Click to Enlarge Name: nexas trades jan 23 2012.jpg Size: 101 KB


Entries are marked with green triangles. I passed up a winner where the yellow triangle is. I already had a few runners going from prior trades so I passed up this trade which looked a bit marginal to me.

In my previous post I said the price channel pattern was one that often broke for big gains. So I was swinging for the fences with a portion of my trades. I exited half at the swing high target, a quarter at double risk, and a quarter was a discretionary runner. The dollar signs are where I took partial profits. The little green up arrows are where I moved my stops on the runners to trail swing lows.

The red diamond is where I screwed up and placed my stop at the swing low instead of 1 pip behind. Still stopped out at a profit, but it cost me quite a few pips profit on the runners.

Never did get the explosive move up but still a very nice day.

The three Nexas trades were ones I would not have gotten had I not stumbled upon this thread so, once again, thanks Nexas.

Hope this helps.
  • #425
  • Jan 24, 2012 11:24am Jan 24, 2012 11:24am
Quoting scjohn
I did not start taking Nexas trades until after 9:50 EST yesterday as, although the MAs on the 8 pip and 4 pip lined up okay, upward momentum was obviously fading before then. I seldom take trades against Big Mo. Yesterday it cost me a couple of winners and saved me from a couple of losers, so overall it cost me a bit. This morning staying with Big Mo helped me quite a bit. Like the stochastic filter, it may end up not helping in the long run, but staying with Mo is in my comfort zone at least for now. Once Big Mo got on board, I started taking...
  • #426
  • Jan 25, 2012 5:47am Jan 25, 2012 5:47am
Quoting scjohn

The three Nexas trades were ones I would not have gotten had I not stumbled upon this thread so, once again, thanks Nexas.

Hope this helps.
Hi Scjohn,

Nice trading! Looks like you are really kicking butt out there :-)

Nexas
  • #427
  • Jan 25, 2012 5:49am Jan 25, 2012 5:49am
Sorry I haven't been around much. I have been spending a lot of time looking after mummy and the baby, so not to much opportunity to trade with out being disturbed.

Hope you all are doing well!

Nexas
  • #428
  • Jan 25, 2012 6:01am Jan 25, 2012 6:01am
Quoting Nexas
Sorry I haven't been around much. I have been spending a lot of time looking after mummy and the baby, so not to much opportunity to trade with out being disturbed.
Hi Nexas,

Take your time.
The Family is the most important thing in the world. This is one of the reasons I choose trading to be closer to my wife and our baby daughter.
  • #429
  • Jan 25, 2012 6:08am Jan 25, 2012 6:08am
Quoting Nexas
Hi Scjohn,

Nice trading! Looks like you are really kicking butt out there :-)

Nexas
Thanks Nexas. Although I do filter the trades a bit, your 4 pip range chart idea has actually accounted for most of my winning trades the past several days. I had always considered 4 pips inside the "noise level" and thus untradable. Goes to show you can always learn.

Glad to hear things are going well albeit tiring with the new little one. Been there and know you can probably use some

BTW, woke up a bit early this am and as soon as I looked at the computer a great looking 4 pipper setup was staring me in the face (at 5:44 am EST). Runner was good for over 20 pips. Nice way to start the day. Hope you can get back in the saddle soon.
  • #430
  • Jan 25, 2012 6:16am Jan 25, 2012 6:16am
hey Kris and scj, are you guys both fulltime traders?..hope you dont mind the question
  • #431
  • Jan 25, 2012 6:20am Jan 25, 2012 6:20am
Quoting FOURX
hey Kris and scj, are you guys both fulltime traders?..hope you dont mind the question
Hi Fourx,

I am only part time, but will become full very soon.

And you?
  • #432
  • Jan 25, 2012 6:28am Jan 25, 2012 6:28am
Quoting Krisdetrader
Hi Fourx,

I am only part time, but will become full very soon.

And you?
no, but working on it
  • #433
  • Jan 25, 2012 6:29am Jan 25, 2012 6:29am
can someone point me to a link or give me more detailed instructions on setting up the charts in MT4? I try to add the two files as EAs and get an error saying they are indicators. then i add them as indicators and nothing seems to happen.

after adding as indicators, i did see the 2 minute chart come up for 'open offline'. is that the range bar chart? If so, is it active since it says it is offline? i would assume it won't be refreshed if it is offline. i also don't understand how to switch from 4 to 8. thanks.
  • #434
  • Jan 25, 2012 6:30am Jan 25, 2012 6:30am
Quoting scjohn
BTW, woke up a bit early this am and as soon as I looked at the computer a great looking 4 pipper setup was staring me in the face (at 5:44 am EST). Runner was good for over 20 pips. Nice way to start the day. Hope you can get back in the saddle soon.
This trade would have failed the stochastic filter I mentioned in an earlier post. I had previously decided to abandon that filter (it tooketh away more than it giveth). The momentum filter still looks a bit promising although it has more of an effect on win rate than actual profits.
  • #435
  • Jan 25, 2012 6:32am Jan 25, 2012 6:32am
Quoting FOURX
hey Kris and scj, are you guys both fulltime traders?..hope you dont mind the question
Full time for five years now.
  • #436
  • Jan 25, 2012 6:36am Jan 25, 2012 6:36am
Nice stats, in line with Nexas' rule of no trading between 11am-1pm GMT. More (useful) info at http://www.nobrainertrades.com/2012/...scription.html

Enjoy!
Attached Image (click to enlarge)
Click to Enlarge Name: FX turnover.jpg Size: 142 KB
One Chart is Worth Ten Thousand Words.
  • #437
  • Jan 25, 2012 6:37am Jan 25, 2012 6:37am
Quoting scjohn
This trade would have failed the stochastic filter I mentioned in an earlier post. I had previously decided to abandon that filter (it tooketh away more than it giveth). The momentum filter still looks a bit promising although it has more of an effect on win rate than actual profits.
Hi Scjohn,

In my opinion the winning rate wins over maximizing profits. Please continue your research .
  • #438
  • Jan 27, 2012 4:45am Jan 27, 2012 4:45am
Hi All,

I hope you have had some good trading days this week. This morning is probably the first morning all week that I have been able to sit down a trade.

A few of you PM'd me asking for some live trading examples, so this is the first of hopefully many.

Please note that due to the recent market conditions I extended my 4 range to a 5 range. This is only a temporary measure and when the markets get some direction again I will revert to the 4 range. Also whilst rendering this first video I took another trade on the EURUSD but obviously didn't catch it on video but I am sure if you look at your charts you can see where it was :-)

Anyhow I will post the video in the next post.

Nexas
  • #439
  • Jan 27, 2012 4:46am Jan 27, 2012 4:46am
Inserted Video
  • #440
  • Edited 9:13am Jan 27, 2012 4:48am | Edited 9:13am
Hi all,

Yesterday I had an opportunity to trade the whole day.
I was using both methods (Nexas and Scjohn’s Donchian method) and must say, they do work very well... if I could stick to them 100%!!!, but I wasn’t…

Before discovering Rbars (not that long ago, only 1 month) I used to scalp a lot, and scalping does actually hide one big problem I thought I have never had a problem with.
It turns out that there is still that “fear factor” within me that does not allow any profits run, thus I would close positions way too early (making a very bad R:R scenario), and when the losses would come (and they always do), they just take away all my profits, leaving a big minus at the end of the day.

So… back to the lab J.
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