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Range Bar Basket System

  • #41
  • Nov 23, 2012 5:53pm Nov 23, 2012 5:53pm
do you set minimum size for a candle to be a valid RB?

Because if you don't, I think that the candles shown with blue arrows have closed higher than the previous range, so they must be considered
the new RB, and the lower yellow line is the buy level, at first bounce.

But I see that you ignored the yellow line, waited for a new RB that formed the long red candle.
http://i.imgur.com/fo1Ok.pnghttp://
  • #42
  • Nov 24, 2012 3:26pm Nov 24, 2012 3:26pm
Quoting as002
do you set minimum size for a candle to be a valid RB?

Because if you don't, I think that the candles shown with blue arrows have closed higher than the previous range, so they must be considered
the new RB, and the lower yellow line is the buy level, at first bounce.

But I see that you ignored the yellow line, waited for a new RB that formed the long red candle.
http://i.imgur.com/fo1Ok.pnghttp://
Hi as002:
Good question and the answer is Yes. I have a minimum size for a candle to be a valid RB. Hoewer its not a fixe size 50 or 100 pips, no. Its depend of my focal interpretation of price action. When we are talking about a chart based at Basket trading we must think that daily range is high cause is a several crosess average range. Price action is not equal than a single crosses. 1h bar of 100 pips is so small if you think that 1h average range is double or triple.
In the chart example this bar is so smal and i see too that break of previous RB is not strong. The 21 EMA and Clouds is to far and is probable thats price retrace to EMA. No ever, but in most trades you can see that RB support is near 21 EMA and Clouds and price retrace and touch these supports. When you take a trade at confluencial of Low of RB, 21 EMA and Clouds its and idoneal settup. You are Buying at lows near support and selling at highs near resistence. EMA is the first support and Clouds its final support. If Clouds are Break another trend coulb be starting.
I hope help you. Apologize my english please.
All the best.
Regards.
That which you give to others, life will return it in spades
  • #43
  • Nov 26, 2012 1:51am Nov 26, 2012 1:51am
Hi all:

Today i was good look. I dont take a Buy trade cause im wasnt infront computer at Assian Session. I was sleeping at this time.
If i was take this trade i was loos -78 pips x 2 = 156 pips. But if a was take this trade i waited to retrace of next bar and closed position at BE.
But. When you must wait to retrace?. Its depend of you MM. If bar was broken the range is so large and closed with strong +150 pips you must think that could be no retrace and next bar could be adding more loss. If price go against me 50 or 100 pips i assume more risk and i wait for retrace. If price go against me 150 or more i dont wait cause loss coulde be more. But if you assume more risk you can wait.
Im playing with small stop loss but you can play with bigger stop loss if you want. You can use ATR. Other Ichimoku side or whatever you use.
The problem of small stop is that hits often and however minimize loss.
My first target is preserve my capital.
Im trading with real money and its diferent to trade at demo. When you are risking real money first target is to preserve your capital and no make bigger amount of money.
Well now i looking for long at low new Range Bar.
All the best.
Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: ko9.jpg Size: 130 KB
That which you give to others, life will return it in spades
  • #44
  • Nov 26, 2012 2:24am Nov 26, 2012 2:24am
Im long now. Price touch low Range Bar. Enter Buy 2 positions. Position 1 target +225. Now +155.
Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: ko9.jpg Size: 126 KB
That which you give to others, life will return it in spades
  • #45
  • Nov 26, 2012 3:16am Nov 26, 2012 3:16am
Im out. Bar closed out range at -65 x 2 = -130 pips. I assume more risk and wait for retrace next bar.
Closed Buy position at BE.
Now im waiting for sell position at high of RB.
Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: ko9.jpg Size: 129 KB
That which you give to others, life will return it in spades
  • #46
  • Nov 26, 2012 4:49am Nov 26, 2012 4:49am
Hi all:
I closed positions:
be2: +1700
bd2: +2000

Still open positions:
ba2: +2700
bb2: +2400
bc2: +1980

Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: ko9.jpg Size: 138 KB
That which you give to others, life will return it in spades
  • #47
  • Nov 26, 2012 4:55am Nov 26, 2012 4:55am
Thanks for the continuing updates, it helps to understand what you are doing.

Couple of Q's if I may....

1. How long have yo been trading this and what are the overall results?
2. You show the Cci ... do you use that as part of your signal?
3. Do you always trade the 14 pair basket and do you have results for the smaller baskets?

Thanks,
M.

PS. Nice positions, makes the small -ve's worthwhile!
If you think I'm mad, I must be mad
  • #48
  • Nov 26, 2012 5:48am Nov 26, 2012 5:48am
Hi All:
Im short now. Enter at RB high 2 positions. Target1 at RB low +350.
Position sa1-2.
Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: ko9.jpg Size: 118 KB
That which you give to others, life will return it in spades
  • #49
  • Nov 26, 2012 7:09am Nov 26, 2012 7:09am
Quoting futurespec
Thanks for the continuing updates, it helps to understand what you are doing.

Couple of Q's if I may....

1. How long have yo been trading this and what are the overall results?
2. You show the Cci ... do you use that as part of your signal?
3. Do you always trade the 14 pair basket and do you have results for the smaller baskets?

Thanks,
M.

PS. Nice positions, makes the small -ve's worthwhile!

Hi futurespec:
thanks for question.
1. Im trading with real money for 15 months and demo for time long. But i dont only trade this system. Problem of basket trading is difficult to back test result.
2. CCI and others indicator are only a visual help to see how strong is trend. It isnt important but help me. Ichimoku is important for me cause it determine the trend direction but sometimes fall too.
3. I trade 14 pairs but you can probe at Core5 or another system and say me what do you think.

I attach 2 charts. First is Basket chart and second is EURJPY chart. You can see the how similar are both. Likely it works in Core5 or others cause really you are trading with price action.

I hope answer you.
Regards.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ko9.jpg Size: 157 KB
Click to Enlarge Name: ko10.jpg Size: 158 KB
That which you give to others, life will return it in spades
  • #50
  • Nov 26, 2012 8:10am Nov 26, 2012 8:10am
Price is in a mini-range between EMA and previuos RB Low. If a candle close above EMA its possible that price will go UP again. If a candle closed below previous RB Low its a good signal.
Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: ko10.jpg Size: 124 KB
That which you give to others, life will return it in spades
  • #51
  • Nov 27, 2012 12:55am Nov 27, 2012 12:55am
Hi all:
Position Sa1 closed.Target1 reached. +350.
Position Sa2 closed at BE.
Now i waiting for longs.
Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: ko10.jpg Size: 121 KB
That which you give to others, life will return it in spades
  • #52
  • Nov 27, 2012 1:29am Nov 27, 2012 1:29am
Well:
Today im looking for longs.
I still open following positions:
ba2: 3000
bb2: 2700
bc2: 2300
Regards.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ko10.jpg Size: 134 KB
Click to Enlarge Name: ko11.jpg Size: 122 KB
That which you give to others, life will return it in spades
  • #53
  • Nov 27, 2012 2:17am Nov 27, 2012 2:17am
Thanks for the ongoing updates.
Takes a brave man to show his trades.
Been good so far but is that just a happy coincidence?
At this rate you will be able to buy us all a Christmas present :-)
(or perhaps that is your system).

M.
If you think I'm mad, I must be mad
  • #54
  • Nov 27, 2012 2:24am Nov 27, 2012 2:24am
Quoting futurespec
Thanks for the ongoing updates.
Takes a brave man to show his trades.
Been good so far but is that just a happy coincidence?
At this rate you will be able to buy us all a Christmas present :-)
(or perhaps that is your system).

M.
Correct.

I have now gone long on at 82.40 Just checking out the idea on demo.
Faith with Action
  • #55
  • Nov 27, 2012 2:27am Nov 27, 2012 2:27am
Hi all:
Price touch RB Low. Im long now. Enter 2 positions. Target1: +180 Pips.
Good Look.
Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: ko.jpg Size: 121 KB
That which you give to others, life will return it in spades
  • #56
  • Nov 27, 2012 2:45am Nov 27, 2012 2:45am
Quoting futurespec
Thanks for the ongoing updates.
Takes a brave man to show his trades.
Been good so far but is that just a happy coincidence?
At this rate you will be able to buy us all a Christmas present :-)
(or perhaps that is your system).

M.
Hi fufurespec.
Thanks for compliment.
This forum help me a lot in past and i just want to give back some of learned.
But all must remember what i recomended trade on demo untill you be familiar with the idea im showing. its obvious i think.
Regards.
That which you give to others, life will return it in spades
  • #57
  • Nov 27, 2012 2:59am Nov 27, 2012 2:59am
Quoting hinnavaru
Correct.

I have now gone long on at 82.40 Just checking out the idea on demo.
Hi hinnavaru. Good look.
That which you give to others, life will return it in spades
  • #58
  • Nov 27, 2012 3:05am Nov 27, 2012 3:05am
In theory i think this could be a good trade. If you see the chart attached of EURJPY we are buying at triangle breakout at retest it.
I see too 1 hour 10EMA above 4 hours 10EMA and its a good signal.
But nobody knows.
Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: ko.jpg Size: 118 KB
That which you give to others, life will return it in spades
  • #59
  • Nov 27, 2012 5:01am Nov 27, 2012 5:01am
Well. Actual candle will go close at loss -100x2=-200 pips.
You can do two things:
1. Assume loss
2. Wait for a retrace and close at BE assuming aditional risk.

At this case i will asume aditional risk and no close Buy position. I think could be a retrace and i wait for close at BE.
I will continue thinking that we are in an UP trend.

Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: ko.jpg Size: 121 KB
That which you give to others, life will return it in spades
  • #60
  • Nov 27, 2012 5:09am Nov 27, 2012 5:09am
Update situation:
If you see 4H chart for me trend is UP and price is retesting 21EMA.
If yo see 1h chart EURJPY i hope price retest Day Low and go UP again.
Regards.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ko.jpg Size: 130 KB
Click to Enlarge Name: ko1.jpg Size: 122 KB
Click to Enlarge Name: ko2.jpg Size: 122 KB
That which you give to others, life will return it in spades
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