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The power of range bars

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  • #121
  • Jul 31, 2014 9:35am Jul 31, 2014 9:35am
Quoting thefxpros
{quote} ... And you? what rb sizes do you use in your trading? Anyone who wants to post screenshots of their trades is welcome, come on! The more we are, the better!
actually I'm not trading for now... I used operate back in 2011 but things were a little crazy at the time (both personal and with the world)... greek, tsunamis, kadaffi, spain, etc, etc... I quit for a while... now I see that always something is going to happen, the truth is that I was not ready... but now I'm want to come back...

What I want is what we all want, live from my trades... however for this I need two things: first a good money, and second a system that give me consistent profits... I have no time to operate all day (especially now that I'm trying to move overseas) but I still think I can make this work... =)

well, my system (still testing on demo) is to look to the main trend of the range bar (200ma) and use a 34ma to filter the signals... often the price moves until the 34ma and retracts back... when just touch it and retract is a good signal... my SL is on the top/bottom of the correction and my TP is 2x the stop... that it's it... however I noticed that is not that accurate, wrong a lot... that's why I'm looking for your ideas...

the size of the bars I always make a correlation with the spread of the instrument... dax, dj and crude i'm using 5 pips, russel 10 pips... brent oil does not move as crude oil and the spread is bigger, so I do not like so much... that's another reason that FX sucks... spreads too big in comparison to how much they move... hehehe
Attached Image (click to enlarge)
Click to Enlarge Name: dax.png Size: 106 KB
"To get rich you must have a lot of money" - Joe Abandoned Mine
  • #122
  • Jul 31, 2014 10:01am Jul 31, 2014 10:01am
Last experiment for today on crude oil, a good profit trade. Tomorrow i'm going to include this instrument in my real trading


Inserted Video




Quoting room217
{quote} actually I'm not trading for now... I used operate back in 2011 but things were a little crazy at the time (both personal and with the world)... greek, tsunamis, kadaffi, spain, etc, etc... I quit for a while... now I see that always something is going to happen, the truth is that I was not ready... but now I'm want to come back... What I want is what we all want, live from my trades... however for this I need two things: first a good money, and second a system that give me consistent profits... I have no time to operate all day (especially...

In my opinion you need more instruments to determine the trend, even one more. Just determine big trend and medium trend; you can't always trade well with one moving average because you're going to get stopped out a lot of times, with this trading concept, when market isn't trending.

Every time i looked for spot minimum and maximum i've been burned by the market and it seems that it is the what you're trying to do. It is too hard, maybe after 10 years in the live markets your win rate, in tasks like this, will increase, but you can't start trading in this way... my two cents

If you want make a living from this business i can't do other than advise to you to leave forex and unregulated market and join regulated market. Over all the advantages in terms of reliability, without the spread it is all easier, believe me...
First rule is not to lose. Second rule is not to forget the first rule...
  • #123
  • Jul 31, 2014 10:23am Jul 31, 2014 10:23am
Quote
...Every time i looked for spot minimum and maximum i've been burned by the market...

I'm sorry, I did not understand this part... what do you mean with spot minimum and maximum?

Quote
...If you want make a living from this business i can't do other than advise to you to leave forex and unregulated market and join regulated market...

yes, I believe in that now... I still think that fx is good, but to others, not for me... hehehe
matter of fact, the only money I made on this was trading crude oil...
"To get rich you must have a lot of money" - Joe Abandoned Mine
  • #124
  • Jul 31, 2014 11:03am Jul 31, 2014 11:03am
Quoting room217
{quote} I'm sorry, I did not understand this part... what do you mean with spot minimum and maximum? {quote}

my limping english....sorry.

I meant that everytime i tried to guess market turning points, i have been screwed...
First rule is not to lose. Second rule is not to forget the first rule...
  • #125
  • Jul 31, 2014 11:22am Jul 31, 2014 11:22am
Quoting thefxpros
{quote} my limping english....sorry. I meant that everytime i tried to guess market turning points, i have been screwed...
your english is fine... my english is hard to understand... hehehe

In reality i'm not trying to guess the turning points, I'm trying to take advantage of the retractions on the main trend... however I agree with you that the way I'm trying to do this is just a guess... I need more than that...

Besides range bars I'm studying price action for looong trades... 3, 4 trades per month
but I have to be a sniper to make money this way... cannot afford to lose

and I think range bars easier...
"To get rich you must have a lot of money" - Joe Abandoned Mine
  • #126
  • Aug 1, 2014 12:10pm Aug 1, 2014 12:10pm
sometimes I think the best way is the simple way...
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Screenshot2.png Size: 142 KB
"To get rich you must have a lot of money" - Joe Abandoned Mine
  • #127
  • Aug 1, 2014 1:07pm Aug 1, 2014 1:07pm
Quoting room217
sometimes I think the best way is the simple way... {image} {image}

Yes, the simpler it is, the better...I can't see well, but is it median renko, isn't it? That method is also easy to convert into an ea i guess, right?



Let's see today's trades i took. 3 scalp trades, all on crude oil, 3 wins for a total of 27 ticks...



FIRST TRADE entry and exit:

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SECOND TRADE entry and exit:

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THIRD TRADE entry and exit:

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Click to Enlarge Name: THIRD.JPG Size: 168 KB




RECAP from ninja trader:

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Click to Enlarge Name: NINJA.JPG Size: 80 KB
First rule is not to lose. Second rule is not to forget the first rule...
  • #128
  • Aug 1, 2014 1:33pm Aug 1, 2014 1:33pm
Quoting thefxpros
{quote} I can't see well, but is it median renko, isn't it? That method is also easy to convert into an ea i guess, right?
no no, still range bars... looks like median renko because it's zoom out and this chart is with heiken ashi...
the problem with heiken ashi is that it does not shown the actual price... but it's a bit easier to define the S/L points and trendlines

I would not say "easy" (at least not for me) but yes, possible...

Quote
Let's see today's trades i took. 3 scalp trades, all on crude oil, 3 wins for a total of 27 ticks...

well done...
"To get rich you must have a lot of money" - Joe Abandoned Mine
  • #129
  • Aug 1, 2014 2:01pm Aug 1, 2014 2:01pm
Quoting thefxpros
{quote} trading with no spread is a huge advantage in any case because when you lose a trade, you lose less than in the forex, when you win a trade, you win more than in the forex market...
I did not give enough attention to this... you trade with no spreads? zero?
and you can you use ninja trader to do this? ninja trader runs EA's right? this indicators, range, renko can be converted to ninja trader?

could be very very interesting...
"To get rich you must have a lot of money" - Joe Abandoned Mine
  • #130
  • Aug 1, 2014 2:12pm Aug 1, 2014 2:12pm
Quoting room217
{quote} I did not give enough attention to this... you trade with no spreads? zero? and you can you use ninja trader to do this? ninja trader runs EA's right? this indicators, range, renko can be converted to ninja trader? could be very very interesting...

they are almost 13532 posts i'm trying to tell you!! But i was expecting a reaction like this ----> ----> ----> earlier...

yes, NO SPREAD, just a commission.

and yes you can convert mt4 indicators to ninja trader but i think it could be very expensive, so this is the why i look into mt4 and i trade with ninja trader. Ninja has already renko and range charts type included and many more.

Regarding trading EAs, i don't know what to tell about this, i have been never interested.
First rule is not to lose. Second rule is not to forget the first rule...
  • #131
  • Aug 1, 2014 2:25pm Aug 1, 2014 2:25pm
Quoting thefxpros
{quote} they are almost 13532 posts i'm trying to tell you!! But i was expecting a reaction like this ----> ----> ----> earlier... yes, NO SPREAD, just a commission. and yes you can convert mt4 indicators to ninja trader but i think it could be very expensive, so this is the why i look into mt4 and i trade with ninja trader. Ninja has already renko and range charts type included and many more. Regarding trading EAs, i don't know what to tell about this, i have been never interested.
you are right... huahauhauha

when you commented about this on a few posts before I though: "well, "no spreads" he's probably are refering to "pretty small spreads" not zero zero... it can't be..." huahauhauhauha

I really really going to open a demo account on this...
"To get rich you must have a lot of money" - Joe Abandoned Mine
  • #132
  • Aug 1, 2014 2:44pm Aug 1, 2014 2:44pm
thanks for sharing your range bar exp with us, i have a question, can you make different bar range chart with the same 1m live chart?
I would like to make a range bar 7 and one range bar 4 with 3m offline chart, I finished the 7 one, but i don't know how to do the range 4 one.
Never say no to PIPS
  • #133
  • Aug 1, 2014 3:11pm Aug 1, 2014 3:11pm
Quoting lazyegg
thanks for sharing your range bar exp with us, i have a question, can you make different bar range chart with the same 1m live chart? I would like to make a range bar 7 and one range bar 4 with 3m offline chart, I finished the 7 one, but i don't know how to do the range 4 one.
you can creat as much offline charts as you want from the same online chart (ALWAYS m1), however it has to be differente timeframes... two (or more) charts

range bar 7 = timeframe m3
range bar 4 = timeframe m4
"To get rich you must have a lot of money" - Joe Abandoned Mine
  • #134
  • Aug 1, 2014 3:22pm Aug 1, 2014 3:22pm
Quoting lazyegg
thanks for sharing your range bar exp with us, i have a question, can you make different bar range chart with the same 1m live chart? I would like to make a range bar 7 and one range bar 4 with 3m offline chart, I finished the 7 one, but i don't know how to do the range 4 one.

with the EA i posted here, no. Each rb chart needs his m1 chart. With the ea/indicator (i don't know what it is) posted by room217 it seems you can.

My ea create range bars chart with a small gap for each bar (the chart you see in my screenshots), the ea of room probably is a nogap ea. So...try both and see which one is better for you, but hurry up because market is closing and my ea needs tick movement in order to create the range bars chart.

my ea is here http://www.forexfactory.com/showthre...22#post7632122
room's ea is here http://www.forexfactory.com/showthre...58#post7640158
First rule is not to lose. Second rule is not to forget the first rule...
  • #135
  • Aug 1, 2014 3:42pm Aug 1, 2014 3:42pm
yeah, all two I posted are indicators... and with those you can create as much as you want from the same online chart

once the one you use is an EA, you can create just one because you can run only one EA on each online chart...
but I think is easy to chance it to an indicator instead an EA if you want...


"DAX Index FDAXEurex €25 x Index Value H,M,U,Z 0.5 / €12.50"

Can you explain me something please? the size of the contract on DAX is 25 x index value... the index value is that value we see?
for example, the size of dax right now would be about (25 x 9200 = 230k)?

and what is the minimum size that I can negotiate?

I'm really excited with this idea
"To get rich you must have a lot of money" - Joe Abandoned Mine
  • #136
  • Aug 1, 2014 4:13pm Aug 1, 2014 4:13pm
Quoting room217
yeah, all two I posted are indicators... and with those you can create as much as you want from the same online chart once the one you use is an EA, you can create just one because you can run only one EA on each online chart... but I think is easy to chance it to an indicator instead an EA if you want... "DAX Index FDAXEurex €25 x Index Value H,M,U,Z 0.5 / €12.50" Can you explain me something please? the size of the contract on DAX is 25 x index value... the index value is that value we see? for example, the size of dax right now would be about...

Where did you get that?

i don't trade dax but i guess that every tick is 12,5$. Every dax tick is about 0,25 point of index value, right? Every instrument need a margin you need to have in your account in order to trade that instrument. There is a day trading margin and an overnight margin. Daytrade margin is that amount you need in your account if you close you trade before a certain time (it is different form instrument to instrument). The other margin is that required if you hold your position after that time.

Look at this : http://www.ampfutures.com/margins_req.html


The dax is a very monster if you don't have a huge account because with that tick value and that volatility is risky! Maybe you can use the mini-sized dax where tick size is the half, more confortable...

the minimum size is 1 contract, no less. If you want your tick value be less, you have to see to mini-sized instrument but not always they have same liquidity than regular instruments. So, sometimes your orders (...stop loss too) could be not taken.

Get a demo account and everything will be clearer. You'll have to learn how to use the book to enter orders...The book is that one you can see in my videos i posted yesterday...
First rule is not to lose. Second rule is not to forget the first rule...
  • #137
  • Aug 1, 2014 4:32pm Aug 1, 2014 4:32pm
Quoting thefxpros
{quote} Where did you get that?
http://www.ampfutures.com/contract_specs.html

What I was thinking is that in fx the standard lot is 100k... so to buy 1 lot of eurusd I must have 100k euros available (considering the leverage)... I want to know how much money I need to buy 1 contract of each instrument (dj, nasdaq, dax, crude oil etc)...

Quote
the minimum size is 1 contract, no less. If you want your tick value be less, you have to see to mini-sized instrument but not always they have same liquidity than regular instruments. So, sometimes your orders (...stop loss too) could be not taken.

hmmm... so I will need a little more money... there is no leverage right?

Quote
Get a demo account and everything will be clearer. You'll have to learn how to use the book to enter orders...The book is that one you can see in my videos i posted yesterday...

yes, best way to learn... (y)
"To get rich you must have a lot of money" - Joe Abandoned Mine
  • #138
  • Edited 5:30pm Aug 1, 2014 4:50pm | Edited 5:30pm
Quoting room217
http://www.ampfutures.com/contract_specs.html
ok, i was wrong, so 1 tick of dax is 0,50 points, so every tick (every 0,50 points movement) value is 12,5 $



Quoting room217
I want to know how much money I need to buy 1 contract of each instrument (dj, nasdaq, dax, crude oil etc)
I just told you , it depends if you hold a position over the night or not.

If the answer is no: you need "daytrading margin of that instrument * number of contracts"

if the answer is yes: you need "daytrading margin of that instrument * number of contracts" for the day and "initial margin of that instrument * number of contracts" for the night... but i'm not so sure for overnight because i never use it since i do scalping.

For commissions too, you have to multiply them for number of contracts.

there's no leverage, it is not used.


so let's do an example assuming you don't hold positions overnight: you want to trade crude oil and you want to open a position of 1 contract in crude oil. Since the crude oil day trading margin of amp futures broker is 1000 dollars, you need a minimum of 1000 dollars on your account but you can't afford neither 1 tick in loss because you would fall under the required margin, ok?

If you want to trade crude oil with 1 contract, i suggest a safety minimum of 3000 dollars in your account...and so on

obviously it depends on your trading style...
First rule is not to lose. Second rule is not to forget the first rule...
  • #139
  • Aug 1, 2014 5:21pm Aug 1, 2014 5:21pm
Quoting thefxpros
{quote}so let's do an example if you don't hold position overnight: you want to trade crude oil and you want to open a position of 1 contract in crude oil. Since the crude oil day trading margin of amp futures broker is 1000 dollars, you need minimum 1000 dollars on your account but you can't afford neither 1 tick in loss because you would fall under the required margin, ok? If you want to trade crude oil with 1 contract, i suggest a safety minimum of 3000 dollars in your account...and so on obviously it depends by your trading style...
hmmm... I understand now
my margin has to be more than 1k (daytrade) to open 1 contract

well, thank you for your explanations my friend... next week I'll watching this
"To get rich you must have a lot of money" - Joe Abandoned Mine
  • #140
  • Aug 1, 2014 5:25pm Aug 1, 2014 5:25pm
Quoting room217
{quote} hmmm... I understand now my margin has to be more than 1k (daytrade) to open 1 contract well, thank you for your explanations my friend... next week I'll watching this
perfect!

you can start right now . Ninja has a feature called "market replay", you can trade in demo even in the weekend...look at this:

Inserted Video
First rule is not to lose. Second rule is not to forget the first rule...
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