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The power of range bars

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  • #221
  • Aug 8, 2014 4:34am Aug 8, 2014 4:34am
Quoting Jeffray
a quick one in line with the trend, out for +12.8 points {image}

gooood my friend, jahwol

but this DE30 what instrument is? I cannot find on my platform. I google it and it seems to be the Dow Jones Germany Titans 30 Ind...
First rule is not to lose. Second rule is not to forget the first rule...
  • #222
  • Aug 8, 2014 5:25am Aug 8, 2014 5:25am
Quoting thefxpros
{quote} gooood my friend, jahwol but this DE30 what instrument is? I cannot find on my platform. I google it and it seems to be the Dow Jones Germany Titans 30 Ind...
on my brokers website it says it is the "DE30Xetra DAX Index". let me know if you could find it
  • #223
  • Edited 9:51am Aug 8, 2014 8:18am | Edited 9:51am
Quoting Jeffray
{quote} on my brokers website it says it is the "DE30 Xetra DAX Index". let me know if you could find it
Nada, my broker doesn't have this instrument.





The postman calls me: "there's a box for you"...


all this profit gone...what the hell ...Let's hope in this other buy on CL



Attached Image (click to enlarge)
Click to Enlarge Name: Cattura2.JPG Size: 102 KB






Trades of the day:


Attached Image (click to enlarge)
Click to Enlarge Name: Cattura.JPG Size: 99 KB
First rule is not to lose. Second rule is not to forget the first rule...
  • #224
  • Aug 8, 2014 8:19am Aug 8, 2014 8:19am
another question

i want to trade range bars but i can only trade the us and early asian session

is this possible ? i want trade the 5 min or 1 min chart, but range bars sounds better
Everyday better.
  • #225
  • Aug 8, 2014 8:26am Aug 8, 2014 8:26am
Quoting arlucad
another question i want to trade range bars but i can only trade the us and early asian session is this possible ? i want trade the 5 min or 1 min chart, but range bars sounds better

You're in the right place, try the 2 pip range bars chart, good for scalping as 1 min and 5 min charts. You find all informations you need to start in the first post of this thread.
First rule is not to lose. Second rule is not to forget the first rule...
  • #226
  • Aug 8, 2014 8:33am Aug 8, 2014 8:33am
thanks you i will try

i look your strategy but i dont understand it total
Everyday better.
  • #227
  • Aug 8, 2014 9:00am Aug 8, 2014 9:00am
Quoting Jeffray
{quote} well, during asia session it goes up to 8 points! when Frankfurt opens it goes down to 2 points. and when London opens it is only 1 point the rest of the day. At least as far I had an eye on it. Don't know how it is when its late evening here in Germany because I stop trading at 5 or 6 pm here... EDIT: sorry, forgot to mention the Broker. Iam with ICMarkets, just Google it. (btw Iam not recommending nor advertising anything regarding broker )
hmmm... nice, I was looking just operate during the session... more volatility and better spreads

this indicator I posted shows the current spread and registers the largest spread on the session... sometimes the "time until the next bar" or the "range size" has some bugs but in general works ok... is that blue text on the right top of my charts...

ICM, got it... thank you. I understand, is not advertising... same thing about me, I already talk about oanda sometimes but I'm not advertising them... their spreads are good, is nice to share... however their support not so much...

Attached File(s)
File Type: mq4 Clock_MarketInfo.mq4   8 KB | 470 downloads


Quote
i want to trade range bars but i can only trade the us and early asian session

this is a tool that could help with "sessions" when using not time based bars... sometimes you want operate only on london time but with range bars you cannot know when was the certain hours (looking to the past I mean)... so this indicator could help you to define the best hours to operate on a certain instrument...

Attached File(s)
File Type: mq4 1MinuteDaily.mq4   7 KB | 523 downloads


Quote
but this DE30 what instrument is? I cannot find on my platform
I think de30 is dax... it moves like dj in my opinion...
"To get rich you must have a lot of money" - Joe Abandoned Mine
  • #228
  • Aug 8, 2014 9:10am Aug 8, 2014 9:10am
Quoting Jeffray
{quote} nice one to move to NZ! Haven't been there yet but I fell in love with Australia Where about you from?
actually I'm not moving permanently (I wish)... I'm going to try find a job and change my visa to stay over there...
I'm from Brazil... You are from Germany, right?
"To get rich you must have a lot of money" - Joe Abandoned Mine
  • #229
  • Aug 8, 2014 9:53am Aug 8, 2014 9:53am
example of the two indicators... one of them it's just to show you when the market is on time that you select (originaly this indicator is from a breakout system named "1 minute daily"), and the other just to show the hours, spreads, time until next bars or the size of your range bars...
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 131 KB
"To get rich you must have a lot of money" - Joe Abandoned Mine
  • #230
  • Aug 8, 2014 10:19am Aug 8, 2014 10:19am
Quoting thefxpros
{quote}The postman calls me: "there's a box for you"... all this profit gone...what the hell
I would beat him the next time you see him
sooo bad,..... this was a really nice and massive move!!!
  • #231
  • Aug 8, 2014 10:22am Aug 8, 2014 10:22am
Quoting room217
{quote} actually I'm not moving permanently (I wish)... I'm going to try find a job and change my visa to stay over there... I'm from Brazil... You are from Germany, right?
well, should be quiet easy to get a work&travel visa for NZ and then try to work on the next higher visa to stay longer

I used to live for 8 month in Australia back in 2009. Really nice experience
  • #232
  • Aug 8, 2014 10:57am Aug 8, 2014 10:57am
Quoting Jeffray
{quote} well, should be quiet easy to get a work&travel visa for NZ and then try to work on the next higher visa to stay longer I used to live for 8 month in Australia back in 2009. Really nice experience
well, it's not that easy but yes, it wasn't too much trouble as well...
I could try european citizenship through my grandpa but he's 92 years old, and it takes a looong time to get it...

australia is nice, never been there but seems to be a nice country
"To get rich you must have a lot of money" - Joe Abandoned Mine
  • #233
  • Aug 8, 2014 2:11pm Aug 8, 2014 2:11pm

I am a lowly junior member as of today. I have been trading range bars for about 4 years now, which definitely improved my trading. I primarily trade currency futures, once in awhile commodities and fx. Futures in general cost me less in taxes than fx even though i day trade. Recently I've been tweaking a system I use which I call the squeeze. It is not my creation just something I've picked up over the years and modified for my own use. Since I live in Mexico I can trade from 11pm to 3am which covers the London open.


I set my range bars for the ATR.


My charts have:


Bollinger Bands with setting of 20 and std dev. of 2 and -2

Keltner Channels with setting of 20 and factor of 2

RSI set at 20 with OB 55 and OS 45 overlayed with ADX set at 14(RSI and settings picked up from Forex Factory thread)


Start looking for trades when Bollinger Bands move inside of Keltner Channel


Draw a time line when BB moves inside Keltner Channel

Draw Price lines at first swing hi and swing lo


Wait for price to close above or below one of price lines


Enter long when swing hi price line is broken and RSI is above 55 and ADX is turning up


Enter short when swing lo price line is broken and RSI is below 45 and ADX is turning up


I would add a screen shot of my chart but don't know how yet.



  • #234
  • Aug 8, 2014 2:40pm Aug 8, 2014 2:40pm
sounds very nice
Everyday better.
  • #235
  • Aug 8, 2014 2:43pm Aug 8, 2014 2:43pm
Quoting rockypoint
I am a lowly junior member as of today. I have been trading range bars for about 4 years now, which definitely improved my trading. I primarily trade currency futures, once in awhile commodities and fx. Futures in general cost me less in taxes than fx even though i day trade. Recently I've been tweaking a system I use which I call the squeeze. It is not my creation just something I've picked up over the years and modified for my own use. Since I live in Mexico I can trade from 11pm to 3am which covers the London open. I set my range bars for the...

Hi, welcome here! i would like if you want to share in here all the stuff about this system. You just need to click "upload from computer" button that appears when you write a new forum message.
First rule is not to lose. Second rule is not to forget the first rule...
  • #236
  • Aug 8, 2014 2:55pm Aug 8, 2014 2:55pm
[attach]1485940[/attach

Heres a screen shot of my only trade today. Thanks for the help and the welcome. Never Trade Ugly Charts.
Attached Image (click to enlarge)
Click to Enlarge Name: ffi.jpg Size: 190 KB
  • #237
  • Aug 9, 2014 5:48am Aug 9, 2014 5:48am
Quoting rockypoint
[attach]1485940[/attach Heres a screen shot of my only trade today. Thanks for the help and the welcome. Never Trade Ugly Charts. {image}
so, if i got it correctly, you wait for an highly directional market, not a bad idea in order to avoid ranging market.
First rule is not to lose. Second rule is not to forget the first rule...
  • #238
  • Aug 9, 2014 5:53am Aug 9, 2014 5:53am
Quoting rockypoint
[attach]1485940[/attach Heres a screen shot of my only trade today. Thanks for the help and the welcome. Never Trade Ugly Charts. {image}
Looks like a nice and simple breakout strategy.
So you mean we just have to wait for the bollinger band squeeze inside the keltner channel and marking the last swing high and low and when price brakes the "support/resistance line" jump in the trade and ride the wave?!?!

do you only trade the breakout of the timeline or do you wait for the breakout of the keltner channel as well?
do you only trade on specific times? say London open, NY open, etc?

last question
why did you not take the very first trade on your screenshot, right at the beginning of the picture.
I see there a nice BB squeeze inside the channel and also a breakout after that, good for around 10 points?!?!?!
  • #239
  • Aug 9, 2014 7:30am Aug 9, 2014 7:30am
Quoting rockypoint
I am a lowly junior member as of today. I have been trading range bars for about 4 years now, which definitely improved my trading. I primarily trade currency futures, once in awhile commodities and fx. Futures in general cost me less in taxes than fx even though i day trade. Recently I've been tweaking a system I use which I call the squeeze. It is not my creation just something I've picked up over the years and modified for my own use. Since I live in Mexico I can trade from 11pm to 3am which covers the London open. I set my range bars for the...
@rockypoint

Nice, man! Where do you activate the TP and SL?
  • #240
  • Aug 9, 2014 9:44am Aug 9, 2014 9:44am
I'll reply to questions in order:

1) No I don't wait for a highly directional market. Since I'm day trading I rarely look at charts longer than 2 days in length. I look for charts that show periods
of movement and consolidation. Don't care if its range bound as long as movement is big enough for me to look for at least 20 pips/ticks profit. Its not unusual
to get trades in both directions if your spending a lot of time watching charts.
2) Yes trade the break out of the price line(I wait for a full bar to close outside of the price line) but no trade if RSI is not below 45 for short or above 55 for long
and ADX must be turning up.
3) I trade London open and/or NY open. The London open trades are almost entirely currency trades futures or fx, Ny open is almost entirely commodity trades
I trade cotton, sugar, soybean oil, oil, 5 yr treasuries, wheat, corn. Also rarely spend more than 3/4 hours trading.
4) yes that was a valid trade but I wasn't trading then. I live in Mexico(from NY) time on my charts is NY time.
5) I always trade with a stop usually a little above most recent swing hi/lo but never more than 20 pips/ticks most often in 12-15 range. My tp's are mental when I trade I like having discretion on profits. On rangier charts I'm looking for trades that will give me a shot at 20/pips/ticks on more trending charts 40+.
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