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The power of range bars

  • Linked: HotForex - averaging down test 01 | Demo Account XXXX02
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  • #341
  • Edited 1:16pm Sep 11, 2014 10:01am | Edited 1:16pm
The last buy is one of the trades that i like...here is the precision that i talked about. The heiken ashi in separate window allows you to follow the price action very easily.

These two trades have been taken in demo, the sell reversal for 30 ticks profit and a quick buy scalp trade for 8 ticks profit.

Attached Image (click to enlarge)
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First rule is not to lose. Second rule is not to forget the first rule...
  • #342
  • Sep 11, 2014 10:08am Sep 11, 2014 10:08am
Traded euro open last night, actually traded most of the night, just couldn't sleep. But decent trades. All fx trades closed out, the wheat trade still open put stop
in to lock in 8 ticks profit and will just let it run.
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  • #343
  • Sep 11, 2014 10:17am Sep 11, 2014 10:17am
Quoting rockypoint
Traded euro open last night, actually traded most of the night, just couldn't sleep. But decent trades. All fx trades closed out, the wheat trade still open put stop in to lock in 8 ticks profit and will just let it run. {image} {image} {image} {image}
Come on, you couldn't sleep...you just don't want to tell us that, after sun, sea and kayaking, T-bone and a beer, you were in sweet company...and after the company fell asleep, you started to trade...




Ehi, what's your broker's name?
First rule is not to lose. Second rule is not to forget the first rule...
  • #344
  • Sep 11, 2014 10:19am Sep 11, 2014 10:19am
Quoting thefxpros
{quote} Hi! They have been two reckless trades. The first one was not planned for that entry, but i wanted to enter on the bearish pinbar (point A in the image below) and gnaw some tick but the order has not been filled at the level i wanted so i moved my sell limit a bit lower until it has been filled. My initial stop loss is marked as SL1 in the picture. The truth is that i made a mistake with this trade and i didn't want to close it (big mistake) so i moved my initial stop loss a bit upper, upon the second significant resistence level. The second...
I see thanks.
You can't go broke taking profits.
  • #345
  • Sep 11, 2014 10:29am Sep 11, 2014 10:29am
My Brokers is Think or Swim. They have a great trading platform very easy to use. I started with them because when I started doing this for a living I traded
options. Man you want stress try day trading options for a week! When I switched to fx and futures I looked around and did some demos but never found a platform as easy to use, I especially didn't like mt4, but I guess its what you are used to using.
  • #346
  • Sep 11, 2014 10:49am Sep 11, 2014 10:49am
Stopped out on wheat trade for 8 ticks
  • #347
  • Edited 7:06pm Sep 11, 2014 12:28pm | Edited 7:06pm
Last demo trade for today. Again dow jones, quick 10 ticks profit scalp trade.

Decreasing highs and trendline breach the reasons behind this trade.


Attached Image (click to enlarge)
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First rule is not to lose. Second rule is not to forget the first rule...
  • #348
  • Sep 11, 2014 5:38pm Sep 11, 2014 5:38pm
Hey, a good news for all MT4 range bars traders. The coder of that website where he sells his range bars generator has released a new version of his mt4 indicator.

This new version has a unique built in function among all the range bars generator that i've ever tried until now: tick recording, so it records live tick datas when your mt4 is opened and these datas are stored and reused, when you restart the platform, to recreate a LIVE, REAL and NON REPAINTING range bars chart. So, finally, now we can accurately backtest our strategies with real datas and no more with only open/close, high/low values of M1 timeframe candles.

I'm trying it from few days and it works fine.

here is the link: http://forex.ovo.cz/en/index.php?sub...273801&ucat=1&
First rule is not to lose. Second rule is not to forget the first rule...
  • #349
  • Sep 12, 2014 2:47pm Sep 12, 2014 2:47pm
Quoting thefxpros
Hey, a good news for all MT4 range bars traders. The coder of that website where he sells his range bars generator has released a new version of his mt4 indicator. This new version has a unique built in function among all the range bars generator that i've ever tried until now: tick recording, so it records live tick datas when your mt4 is opened and these datas are stored and reused, when you restart the platform, to recreate a LIVE, REAL and NON REPAINTING range bars chart. So, finally, now we can accurately backtest our strategies with real datas...

Hi there, nice to see some traders using range bar on their trading.

I have been using forex OVO range bar since February 2014, and its been great using it since.

BTW, subscribed!


Isko
SMT, IPDA, Market Structure
  • #350
  • Sep 12, 2014 6:26pm Sep 12, 2014 6:26pm
Last trade of a good week. Everyone have a great weekend.
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  • #351
  • Sep 12, 2014 6:53pm Sep 12, 2014 6:53pm
Quoting isko
{quote} Hi there, nice to see some traders using range bar on their trading. I have been using forex OVO range bar since February 2014, and its been great using it since. BTW, subscribed! Isko
Hi, yes, ovo's products are very good, i tried everything he has in the shop...

thanks for the subscription, join us, post your trading activity if you want.




Quoting rockypoint
Last trade of a good week. Everyone have a great weekend. {image}
hey, are you able to trade all currency pairs with your broker? Futures currency pairs? what about the spread?
First rule is not to lose. Second rule is not to forget the first rule...
  • #352
  • Sep 12, 2014 7:41pm Sep 12, 2014 7:41pm
Yes all currency pairs are available, futures for aud, gbp, chf, eur, jpy, nzd, mxn, usd plus treasuries, commodities. If you can remember to remind me I'll check
the exact spreads the majors are under 2 and some close to 1. Once the market closes Friday the spreads they show are all wrong. Also stock and options.
I play a couple of the weeklies regularly.
  • #353
  • Sep 13, 2014 4:36am Sep 13, 2014 4:36am
Quoting thefxpros
{quote} Hi, yes, ovo's products are very good, i tried everything he has in the shop... thanks for the subscription, join us, post your trading activity if you want. {quote}

Be posting next week, enjoy the weekend!


isko
SMT, IPDA, Market Structure
  • #354
  • Sep 14, 2014 6:36pm Sep 14, 2014 6:36pm
eheheh some exercise before tomorrow trading day...22 ticks in 8 minute...funny

all on crude oil...i have been a bit lucky...

Attached Image (click to enlarge)
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recap:

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First rule is not to lose. Second rule is not to forget the first rule...
  • #355
  • Sep 15, 2014 7:42am Sep 15, 2014 7:42am
holy moly nice trades!
You can't go broke taking profits.
  • #356
  • Sep 15, 2014 9:17am Sep 15, 2014 9:17am
I think most of you are trading indices / commodities here.

Anyway, here is my first trade (live) this week. Shorted GJ @ 174.300 by SELL STOP. Took 25 pips on this trade.

My chart range bar is 6.

Attached Image


Isko
SMT, IPDA, Market Structure
  • #357
  • Sep 15, 2014 11:03am Sep 15, 2014 11:03am
One trade today on oil for 20 ticks
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  • #358
  • Edited 1:58pm Sep 15, 2014 1:48pm | Edited 1:58pm
Quoting isko
I think most of you are trading indices / commodities here. Anyway, here is my first trade (live) this week. Shorted GJ @ 174.300 by SELL STOP. Took 25 pips on this trade. My chart range bar is 6. {image} Isko
Hi, good trade, is that a standard supertrend indicator?


Quoting rockypoint
One trade today on oil for 20 ticks {image}
Well, today was a slow day, as most mondays, i would say that you got a good goal for the day. Did you check those spreads please?



Today i didn't trade at all because it was planned an electrical service maintenance in my neighborhood, so it's not a good idea to scalp the market when the connection is not stable. I need an UPS yes...

I just babysitted the monitor and tried some different approach in simulation mode. I found an interesting indicator that allows to customize candles chart. In the example below i attached the indicator and zoomed out the chart. I like very much the chart with this zoom level, i found easier to trade with this zoom level.

Attached Image (click to enlarge)
Click to Enlarge Name: range bars scalping crude oil.JPG Size: 140 KB



here is it the indicator:

Attached File(s)
File Type: mq4 Custom candles.mq4   5 KB | 360 downloads




Then i played with this windows app, epic pen, it allows to draw everything you want on the screen. I used it to draw a "custom" and "in real time adjustable" zigzag and i found it very useful in order to follow the price action:

Attached Image (click to enlarge)
Click to Enlarge Name: range bars scalping crude oil epic pen.JPG Size: 127 KB


here you can find the epic pen software: http://epic-pen.software.informer.com/
First rule is not to lose. Second rule is not to forget the first rule...
  • #359
  • Sep 15, 2014 2:20pm Sep 15, 2014 2:20pm
Be glad to check the spreads would you give an idea of which ones you want me to check>
  • #360
  • Sep 15, 2014 2:26pm Sep 15, 2014 2:26pm
Quoting rockypoint
Be glad to check the spreads would you give an idea of which ones you want me to check>
thanks. The majors. EURUSD, GBPUSD, JPYUSD, AUDUSD, GBPJPY, EURJPY, NZDUSD.
First rule is not to lose. Second rule is not to forget the first rule...
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