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Bread and Butter Trades

  • #401
  • Sep 14, 2011 8:01am Sep 14, 2011 8:01am
Quoting Ibuks
Here are some trades I took.

One of the major requirement you need for this strategy and any other strategy for that matter is patience.

This particular strategy teaches you to be patient, wait for price to come to you and stop chasing price.

Happy trading.
i managed to setup the EA on my mt4 plus the dashboard but my not problem is that even when a trade is ready, there is no execution. do i have to change anything in EA properties. plz help.
  • #402
  • Sep 15, 2011 6:41pm Sep 15, 2011 6:41pm
Hi,

Sorry for the late response.

Try and check the ea properties again. Make sure stop trading is not set to false.

I will however advice that you learn to trade it properly first manually so that you will be able to undestand the logic behind the strategy.

Happy trading.

Quoting motiva
i managed to setup the EA on my mt4 plus the dashboard but my not problem is that even when a trade is ready, there is no execution. do i have to change anything in EA properties. plz help.
  • #403
  • Sep 15, 2011 6:45pm Sep 15, 2011 6:45pm
Hi,

Today is a great example of waiting for price to come to you.

EU price fell all through asian session...and guess what held it??... 24ema.

Price hit the 24ema while I was sleeping, and until I woke up, it was still holding it. Patience was handsomely rewarded later.

Wait for price....dont chase price.

Hope u caught some of it....??

Happy trading.
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-09-16_0041.png Size: 39 KB
  • #404
  • Sep 22, 2011 2:39am Sep 22, 2011 2:39am
Hi,

Pls see the pic below that highlights a couple of trades.

Trade 1: This was a buy limit expecting a bounce from the 24ema. it was a loss.

Trade 2: At the failure of trade 1, a sell limit was set at 24ema. This was a nice winner.

Trade 3: A sell limit at the 24ema, also a winner

Trade 4: This was a sell limit, a loss.

Trade 5: This was a reverse trade of trade 4. At the failure of trade 4, a buy limit was set at the 24ema. It was a winner.

Trade 6: Another buy limit which turned out to be a winner.

Trade 7: This is particularly interesting. Becos of fomc, i avoided trading and waited for the news candle on the hrly to close. A sell limit was set at the 24 ema, price retraced to pick the trade up and a huge winner it turned out to be.

total of 7 trades, 2 loss and 5 wins. If you look at the trades very well, the losses are minimal compared to the winners.

Happy trading.
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-09-22_0824.png Size: 40 KB
  • #405
  • Sep 23, 2011 7:47pm Sep 23, 2011 7:47pm
Nicely done! I like the simplicity.
  • #406
  • Sep 25, 2011 4:43pm Sep 25, 2011 4:43pm
Hi Ibuks. I've been following this thread with interest. Have you tried dropping a 200 EMA onto your chart? It takes just as much patience to wait for the right setup, but when the 24 crosses the 200, it is usually a good entry, especially if it coincides with the setup discussed in this thread. I look for this on my faster timeframes, mainly 21 and 13 Range charts. I'll try to post some charts when I get to trading Monday morning. Happy Trading !
  • #407
  • Sep 25, 2011 5:21pm Sep 25, 2011 5:21pm
Hi Cadmn,

It will be great to see your chart....

Are u talking about range chart??

Ibuks

Quoting cadrmn
Hi Ibuks. I've been following this thread with interest. Have you tried dropping a 200 EMA onto your chart? It takes just as much patience to wait for the right setup, but when the 24 crosses the 200, it is usually a good entry, especially if it coincides with the setup discussed in this thread. I look for this on my faster timeframes, mainly 21 and 13 Range charts. I'll try to post some charts when I get to trading Monday morning. Happy Trading !
  • #408
  • Sep 25, 2011 6:15pm Sep 25, 2011 6:15pm
Quoting Ibuks
Hi Cadmn,

It will be great to see your chart....

Are u talking about range chart??

Ibuks
Yes Ibuks, I generally use range charts. Pretty tough to have the patience to wait for the pattern to develop on the longer timeframes, as I do not hold overnight positions. But VERY effective on the 21 and 13 range charts. I'll upload some charts this week.
  • #409
  • Sep 25, 2011 6:26pm Sep 25, 2011 6:26pm
Yea...it will be great to know how u get ur range chart...will love to test.

I have also have good success on renko charts as well...but will love to try out range charts as well.

Do u have ur range chart on mt4 or some other platform? The range chart I get on mt4 is not that reliable. Pls share if u have any good one.

Cheers.

Quoting cadrmn
Yes Ibuks, I generally use range charts. Pretty tough to have the patience to wait for the pattern to develop on the longer timeframes, as I do not hold overnight positions. But VERY effective on the 21 and 13 range charts. I'll upload some charts this week.
  • #410
  • Edited 7:05pm Sep 25, 2011 6:46pm | Edited 7:05pm
Quoting Ibuks
Yea...it will be great to know how u get ur range chart...will love to test.

I have also have good success on renko charts as well...but will love to try out range charts as well.

Do u have ur range chart on mt4 or some other platform? The range chart I get on mt4 is not that reliable. Pls share if u have any good one.

Cheers.
I use Ninja Trader, but should be able to get a range chart on any platform. When you set up your timeframe, from the drop down menu, just choose "range", same as you would choose other timeframes like, "daily", "hour", "minute" etc. Here is a 21 Range chart. The solid line is the 24 EMA and the large dotted line is the 200 EMA. You can obviously see the two crosses, and the move after the cross. Right now, which is the farthest right portion of the chart, it looks like we may get a bullish cross on this chart. Faster timeframes already crossed.
  • #411
  • Sep 25, 2011 8:13pm Sep 25, 2011 8:13pm
Quoting cadrmn
I use Ninja Trader, but should be able to get a range chart on any platform. When you set up your timeframe, from the drop down menu, just choose "range", same as you would choose other timeframes like, "daily", "hour", "minute" etc. Here is a 21 Range chart. The solid line is the 24 EMA and the large dotted line is the 200 EMA. You can obviously see the two crosses, and the move after the cross. Right now, which is the farthest right portion of the chart, it looks like we may get a bullish cross on this chart. Faster timeframes already...
Then again? This is where patience paid off. 21 Range cross never happened.
  • #412
  • Sep 27, 2011 3:59am Sep 27, 2011 3:59am
Quoting Ibuks
Thanks Steve and welcome back. Will put it on the first page once I get home.

To answer to some of the reservations expressed by some traders on the 10+ pips issue and the sl, pls read below carefully.


When I said 10+ pips, I meant 10 pips or more. I hope that is clarified now?

On the sl, this is a time based exit strategy which some traders are not disciplined enough to follow or even understand.

The bread and butter like I said in my first post is not for everyone. If u are not ready to own it, practice and bring out how u trade it to...

ibuk

when you say the price has to rebound back to the 24ema, does it have to touch the 24 ema or cross over it ? if not, how close does it have to be before we can take it as the the price is in line with 24ema ?


in a buy example say the price is above 24 ema. it then retraces to the 24 ema. after the close of the candle that retraces to 24 ema, we enter a buy on the open of next candle, right ?

now, it can also be the case that when we enter a buy this candle can keep on going down the 24ema instead of rising. in such a case we wait for that candle to close. and then we close our buy position and on the opening of the next candle we enter a sell ?

is the above correct ?


ta
  • #413
  • Nov 4, 2011 6:48pm Nov 4, 2011 6:48pm
There has not been any recent posts on this thread. Traders - how's it hanging?
  • #414
  • Jul 1, 2012 9:26am Jul 1, 2012 9:26am
Great work ! Thank you.

I want to ask if it's possibile to insert a function to alert us when PA it's near EMA at 10 pip ?

Quoting squalou
Hi all,

some time ago Ibuks PM'ed me asking for a "Dashboard" for his system.

I coded one; here it is.

It displays the distances from the H1,H4 and D1 24EMAs as default, for 23 different pairs.

You can switch to display only the current pair, or the full list, and change them as you wish.

I used also the same inputs as in Steve's EA so you won't be lost.

Other inputs will be self-explanatory.


The distances are displayed in one of 4 colors, depending if price is above/below the EMA, and inside/outside the EMA Band of "BufferPips" distance.
When...
  • #415
  • Aug 22, 2012 6:33am Aug 22, 2012 6:33am
Squolou have been very kind to improve this strategy by making a dashboard. Pls find attached the dashboard.

Hi !

I want to ask if someone could modify this indicator "Ibuk's Bread'nButter Dashboard.mq4" to work also for other markets. Stocks, Index etc.
I need only the modification at this indicator after that I will add myself what I need.

Thank you
  • #416
  • Sep 18, 2012 12:16pm Sep 18, 2012 12:16pm
Hi Everyone,

I started "Ibuks Bread'nButter multi-pair auto-trader by SteveHopwood V2 -14072011.ex4" on a Thinkforex demo account.
Basic settings are made to let the EA run. Smiley is "happy". -> Moved the "start the robot" box to start it, the alert confirmed that "Robot has re-started".

BUT it's not plased a single trade for 2 weeks!
What do you think the problem is?
Help me please!

Thanks

Globe
  • #417
  • Sep 19, 2012 1:44pm Sep 19, 2012 1:44pm
Just want to add that this is showing lot of promise.
Thank you
In trading, you have to be defensive and aggressive at the same time
  • #418
  • Jan 13, 2013 5:06am Jan 13, 2013 5:06am
Hi!

I’m looking for a multicurrency dashboard that will alert me, when the price is near a certain level.
The " Ibuk's Bread'nButter Dashboard.mq4 " from this thread it's very good for this idea. But i'm not a programmer.
Exemple: EURUSD. I identify this level 1.3200 and I need an alert when PA is near at 30 pips from that level.

The dashboard will alert me. That's it, simple.

If someone knows another dashboard please send the link here.


Thank you




Quoting moneydeep
Ibuk's motto is simple makes money.

I have been with ibuk for a few months now and take these bounces when they come along. Basically when the price is far away from the 24 ema and it comes to touch it the trades are awesome. just leave limit orders and get filled very simple yet effective method. 1hr and above.
  • #419
  • Mar 24, 2013 3:04am Mar 24, 2013 3:04am
Anyone still using this method? I have seen a lot of folks present results from back tests they have done but if you trade this as I do, those back tests can be deceiving. That's because an hourly candle can look like it hit the 24 EMA and then kept going and so to0 did the next candle without reversing What you won't see in that back test is that often that candle actually retraced 10+ pips.

If you want more accurate back test results then use the attached indicator and on a 5M or even 1M chart to see what really happens within that hourly candle. And get a more accurate idea of whether or not your target is reached. If you look at the chart attached you will see the M-Candles indicator. Note that i use this on 5M chart with a 288 EMA which is a 24 EMA on the 1H chart
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_09 Mar. 24 07.53.jpg Size: 151 KB
Attached File(s)
File Type: mq4 M-Candles.mq4   6 KB | 494 downloads
  • #420
  • Jun 25, 2014 7:44pm Jun 25, 2014 7:44pm
In another thread someone asked for alerts for the ibuks-madistance-indicator. not 100% if it works -> http://www.forexfactory.com/showthre...68#post7562068
PM me with coding requests and I'll probably put you on my ignore list
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