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Range Bar Basket System

  • #81
  • Nov 29, 2012 2:58am Nov 29, 2012 2:58am
Quoting futurespec
What do you think?.

I think we should all trade for a week and then retire!
If only it was that easy.

Did you not close the earlier open trades when we had a retrace yesterday?
What earlier positions do you still have open?

Not in any way trying to knock your ideas, as I said before I appreciate your ongoing updates, but more a case of trying to fully understand how I could repeat it.

M.
Hi futurespec.
I say you that there is no problem with questions or doubts. I understand it.
I attached a chart that explain better yesterday trades and today situation.
At this moment i only still open Buy position called ba2 at last arrow.
I explain chart:
1. Sell.
2. Closed BE.
3. Sell.
4. Closed BE.
I hope help you sincerely. If you have any question there is no problem. Dont ofense me.
Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: ko.jpg Size: 99 KB
That which you give to others, life will return it in spades
  • #82
  • Nov 29, 2012 3:18am Nov 29, 2012 3:18am
Quoting futurespec
The bar where you entered your trade closed below your RB ... would you move the new RB to that downbar?
No i dont move RB. This bar closed only 3-4 pips below. But there is no problem. If you move to new RB then you could buy at low of this down bar at confluence with EMA. Its was a good setup.
Regards.
That which you give to others, life will return it in spades
  • #83
  • Nov 29, 2012 3:29am Nov 29, 2012 3:29am
Quoting Jaquemate
No i dont move RB. This bar closed only 3-4 pips below. But there is no problem. If you move to new RB then you could buy at low of this down bar at confluence with EMA. Its was a good setup.
Regards.
Enhorabuena Jaquemate por tu thread. Voy a seguirlo.

Sorry but it's not so easy to find another spanish trader like me.....

Cheers
  • #84
  • Nov 29, 2012 4:37am Nov 29, 2012 4:37am
Several post ago i said that i dont move stop of ba2 position to BE. Why risk?.
Well. If you see chart attached you will see a circle drawed. At this zone is possible a retest of price at confluence of RB Low, 21 EMA and Clouds.
If you move to BE is possible you get out and price will go UP later.
I prefer assuming a possible loss. I reached target1. Now im looking that ba2 position will survive today and capture a possible trend UP.
Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: ko1.jpg Size: 137 KB
That which you give to others, life will return it in spades
  • #85
  • Nov 29, 2012 6:38am Nov 29, 2012 6:38am
Well. Price retest RB Low. If you moved to BE position ba2 you go out now. I still in profit yet.
Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: ko1.jpg Size: 136 KB
That which you give to others, life will return it in spades
  • #86
  • Nov 29, 2012 7:50am Nov 29, 2012 7:50am
You have taken a position long on last RB and closed half in profit ....

Do you ever add to the position when the price retraces to the RB low again or only if it is a new RB.
Thanks,

M.
If you think I'm mad, I must be mad
  • #87
  • Nov 29, 2012 8:20am Nov 29, 2012 8:20am
Hi Jaquemate,

Excellent trading...well done!

I have one very simple request from you since you are always having multiple posns open...say you have 6 baskets open and when you want to close say basket number 3, can you please describe the process of doing this? I have tried by putting the magic number of the basket I want to close on the close all script but it works sometimes and doesn't work most times??? Also, what are the options on the close all script, where the default setting is 3? I have tried also "playing" around with this setting to see if maybe that is where the problem maybe but still no luck. If you have the time and you know the function of each option, please advise as well.

I hope my question is clear and I thank you in advance for your help. I have asked the same question on Kos's thread but noone has replied so far perhaps because they are not familiar with multiple baskets being open?!

Mucha gracias again
  • #88
  • Nov 29, 2012 12:25pm Nov 29, 2012 12:25pm
Quoting futurespec
You have taken a position long on last RB and closed half in profit ....

Do you ever add to the position when the price retraces to the RB low again or only if it is a new RB.
Thanks,

M.
Hi futurespec.
No i dont add new position. Its a personal decision but i considered that a RB is the start of a indecision time. Price go up and down untill buyers or sellers win the battle and price break range. This is why i closed early any loss, when a bar break and close out the range. Cause it could be start of a new trend but in worst case against me. And this is why i consider "noise" to bar tails, cause are only the attemps of win the battle.
Hoewer, closed bar is the result of this battle at a time period. If bar is down, sellers win, if bar is up buyers win. If a down bar closed below open an up bar seller are in control and viceversa.
I prefer add position when a trend is establised, then retrace.... you add a position and trend returns...
Regards.
That which you give to others, life will return it in spades
  • #89
  • Nov 29, 2012 12:33pm Nov 29, 2012 12:33pm
Quoting natomoto
Hi Jaquemate,

Excellent trading...well done!

I have one very simple request from you since you are always having multiple posns open...say you have 6 baskets open and when you want to close say basket number 3, can you please describe the process of doing this? I have tried by putting the magic number of the basket I want to close on the close all script but it works sometimes and doesn't work most times??? Also, what are the options on the close all script, where the default setting is 3? I have tried also "playing" around with this setting...

Hi nanomoto. Wellcome to thread.
I hope that you understand my limited english. I apologize again for it.

Its a good question. I do all manually. Only use scrips for open orders changin Magic Number. But if you have multiple positions open is difficult to closed it.
I dont use any scrip for closed positions. If somebody knows how can help us.
For knows every position i put it a reference Ba1, Bb1, Sa1, etc.
When you put orders you can write at comment this reference. When you close a position manually you knows that it is.
I hope help you.
Regards.
That which you give to others, life will return it in spades
  • #90
  • Nov 29, 2012 1:01pm Nov 29, 2012 1:01pm
Quoting Jaquemate
Hi futurespec.
No i dont add new position. .........
I was going to ask the same.

So to make it clear, today there was just one trade at point 1, that netted about 147 pips (187-40)?
http://i.imgur.com/fSNfK.png


If you had missed the the first trade, would you open the second ?
  • #91
  • Nov 29, 2012 1:14pm Nov 29, 2012 1:14pm
I dont use any scrip for closed positions. If somebody knows how can help us.

If the positions are opened with a script then it would be easy for script to assign MagicNumber to the position.
... which could also be assigned a different number each time the scipt is used.

Then it should be easy to be able to close just the positions with the specific MagicNumber.

M.
If you think I'm mad, I must be mad
  • #92
  • Nov 29, 2012 2:42pm Nov 29, 2012 2:42pm
Quoting as002
I was going to ask the same.

So to make it clear, today there was just one trade at point 1, that netted about 147 pips (187-40)?
http://i.imgur.com/fSNfK.png


If you had missed the the first trade, would you open the second ?
Hi as002:
Your chart is not the same to mine but is no problem, the concept i explain you is valid.
I was loss this trade if a bar closed below RB Low that you drawed with a line.
If its happens then actual Range Bar is invalidated. Range bar was broken and this range not been respeted. Forget it. Market created a new Range Bar (number 4) and it is now our center of gravity.
I hope explain it.
Regards.
That which you give to others, life will return it in spades
  • #93
  • Nov 29, 2012 3:15pm Nov 29, 2012 3:15pm
Hi Jaquemate,

When I was following kosomolate's thread a couple of weeks ago, I had realized the long wicks on hourly candles, but never thought of trading them in such a way. I appreciate it.

I have some questions for you as I couldn't catch even if you told before:
- Do you have trading times, i.e. from Frankfurt Open to London Close, etc. or do you trade 24/5? Although your strategies are different, downside of kos' system was you should stick to the screen as anything could happen in a M15 candle. Yours is better in this way that watching hourly charts should be easier.
- How do you determine the initial RB, i.e. is it the first bar of the week or just the first candle you see in the morning?
- And about SL. Although you don't use a fixed SL as far as I understand, how long would you wait before closing your trades, like in a news or intervention situation?
- In relation to my question above, what percent do you risk per trade, or what is your R:R ratio I may say?

Thanks in advance for your answers...
  • #94
  • Edited 12:39pm Nov 30, 2012 1:33am | Edited 12:39pm
GM Jaque, All,

In response to your request to have script to close trades with Magic N please try the attached.
Have just coded it and has NOT been tested but should work.
Obviously use at own risk and on demo first.

It should not affect any pending orders.

Setting mMagicN to blank or zero will close ALL (repeat ALL) open orders.

HTH.

M.

EDIT: slight mod to file so that '0' closes ALL open trades ... update in post#115 below
Attached File(s)
File Type: ex4 mn Close MagicN Trades.ex4   2 KB | 359 downloads
If you think I'm mad, I must be mad
  • #95
  • Nov 30, 2012 3:03am Nov 30, 2012 3:03am
Quoting isengoz
Hi Jaquemate,

When I was following kosomolate's thread a couple of weeks ago, I had realized the long wicks on hourly candles, but never thought of trading them in such a way. I appreciate it.

I have some questions for you as I couldn't catch even if you told before:
- Do you have trading times, i.e. from Frankfurt Open to London Close, etc. or do you trade 24/5? Although your strategies are different, downside of kos' system was you should stick to the screen as anything could happen in a M15 candle. Yours is better in this way that watching...
Hi isengoz. Wellcome to thread. I hope answer your questions.

I trade from 08:00 to 20:00 Spain local time. At this time zone I am at office and can do it. Some time I said here that I don’t take a trade because I wasn’t in front of computer at moment. I don’t in front of computer all this time. I have others liabilities. However I show you all possible trades for that you will see how system works. I don’t take all. Some time I lost opportunities. If a good trade happens at 23:00 I am not in front computer at this time.

Trade 1h chart is less stressful that 15m or 5m chart. Trade 4h chart is less stressful that 1h chart. The higher time frame is less stressful. Trading should be don’t exciting, should be boring.


If you want to be in front of computer 14 hours a day every day and every week to the next 20-30 years you must think the stress level accumulated you are supporting. That is not for me.


Price go UP or go DOWN. Time frame is relative. There are traders in front computer 16 hours a day to win 10 pips a day. Its not for me. Really you believe a person can live the next 20 years to trading with 10 pips a day?. I don’t know.


When I off computer I was draw last RB limited. When I on computer next day I see if RB was broken and which is the new RB. In a Basket chart its useful to draw lines and draw open positions to knows where are. In a crosses chart you can see the open position but in a basket chart no.

I don’t use fixed stop and I don’t understand why people use. It’s a broker gift. You are showing broker your cards in the game. But it is my personal opinion. If you use fixed stop and stop orders you will loss more time than if you don’t use…. Or you can use a biger biger stop that never been touch.
When you don’t use stop you are assuming the risk of a big and fast movement against you and a bigger loss. But its don’t happens normally, only when an important news is announced.


But in computing a long term I think you are minimizing loss when you don’t use a fixed stop and you wait to retrace price to BE point.

I don’t have a fixed R:R. First position could be 1:1 or 1:3 and I use for replenish my capital and cover the drawdown. Second position could be 1:10, 1:15 1:20 all depends that markets wants give to me. Normally if a bar closed against me and loss is less than 150 pips I wait to retrace. If bar is so strong and loss is more than 150 pips could be not retrace and loss could be more if you don’t close position. But you don’t take this numbers, its only an approximation. All depend of global context of situation.
Regards.
That which you give to others, life will return it in spades
  • #96
  • Nov 30, 2012 3:36am Nov 30, 2012 3:36am
Quoting Caillou
Enhorabuena Jaquemate por tu thread. Voy a seguirlo.

Sorry but it's not so easy to find another spanish trader like me.....

Cheers
Gracias Caillou. Wellcome to thread. I dont see before your post.

Regards.
That which you give to others, life will return it in spades
  • #97
  • Nov 30, 2012 4:49am Nov 30, 2012 4:49am
Quoting futurespec
GM Jaque, All,

In response to your request to have script to close trades with Magic N please try the attached.
Have just coded it and has NOT been tested but should work.
Obviously use at own risk and on demo first.

It should not affect any pending orders.

Setting mMagicN to blank or zero will close ALL (repeat ALL) open orders.

HTH.

M.
GM futurespec:
Thanks for script attached. It could be very ussefull. I probe at demo and coment.
Regards.
That which you give to others, life will return it in spades
  • #98
  • Nov 30, 2012 4:51am Nov 30, 2012 4:51am
Well, today im looking for longs again.
Yesterday. price dont touch RB Low (1) and go UP confirming strong UP trend and forming a new RB today (2).
Price dont retrace to RB Low (2) and breakout forming a new RB (3).
Im looking for retrace around 83.65 for buy. I called order ba1-2.
Close position ba1 at Target1: +350.
Let run position ba2.
Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: ko2.jpg Size: 120 KB
That which you give to others, life will return it in spades
  • #99
  • Nov 30, 2012 5:00am Nov 30, 2012 5:00am
Quoting Jaquemate
Hi isengoz. Wellcome to thread. I hope answer your questions...
Jaquemate, gracias por su respuesta.

I assume that you manage your trades via an EA. Which one do you use?

By the way, I've been waiting since the morning and no setup has occurred yet. Maybe due to Friday...

Esto es realmente un juego de espera...
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-11-30 #kos#14,H1 (offline).png Size: 28 KB
  • #100
  • Nov 30, 2012 5:15am Nov 30, 2012 5:15am
Hi all:
At chart attached you will see that if bar 1 dont closed below previous RB today 2nd buy position still survive and now is in +450 profit.
Price dont touch yet drawed line but was near.
I see the similitude between two zones drawed by circles. Its possible a range untill this zone and price will go UP.
Attached Image (click to enlarge)
Click to Enlarge Name: ko2.jpg Size: 136 KB
That which you give to others, life will return it in spades
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