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The power of range bars

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  • #621
  • Nov 20, 2014 12:15pm Nov 20, 2014 12:15pm
I think part of why I like the 6E chart so much more is the full pip pricing. It makes finding S/R so much cleaner, in my opinion. I wonder if the range bar generators for MT4 could be altered to filter price such that price would only move once it had travelled to the next full pip, i.e. it would do nothing until price moved from 1.2451 to 1.2452 instead of dancing around at 1.24513.
Small disciplines repeated with consistency lead to great achievements.
  • #622
  • Nov 20, 2014 2:42pm Nov 20, 2014 2:42pm
Quoting jmflukeiii
I think part of why I like the 6E chart so much more is the full pip pricing. It makes finding S/R so much cleaner, in my opinion. I wonder if the range bar generators for MT4 could be altered to filter price such that price would only move once it had travelled to the next full pip, i.e. it would do nothing until price moved from 1.2451 to 1.2452 instead of dancing around at 1.24513.
I think you are describing renko charts, or am I wrong.
  • #623
  • Nov 20, 2014 2:52pm Nov 20, 2014 2:52pm
Quoting jmflukeiii
I think part of why I like the 6E chart so much more is the full pip pricing. It makes finding S/R so much cleaner, in my opinion. I wonder if the range bar generators for MT4 could be altered to filter price such that price would only move once it had travelled to the next full pip, i.e. it would do nothing until price moved from 1.2451 to 1.2452 instead of dancing around at 1.24513.
As far as i know, there are brokers that offer currency instruments as 4 digits and not 5, so you can get something very similar to 6E, 6A, 6J and so on. The first that come in my mind is IKON group. They offer the turbo meta trader with 4 digits.
First rule is not to lose. Second rule is not to forget the first rule...
  • #624
  • Nov 20, 2014 2:54pm Nov 20, 2014 2:54pm
Quoting Demos4x
{quote} I think you are describing renko charts, or am I wrong.
No... it has to do with the decimal places. Futures only quote full pips.
Small disciplines repeated with consistency lead to great achievements.
  • #625
  • Nov 20, 2014 2:56pm Nov 20, 2014 2:56pm
Quoting thefxpros
{quote} As far as i know, there are brokers that offer currency instruments as 4 digits and not 5, so you can get something very similar to 6E, 6A, 6J and so on. The first that come in my mind is IKON group. They offer the turbo meta trader with 4 digits.
In Ninja, you can alter how it displays forex pricing, so you will get the bid/ask spread when you trade, but can chart with full, half, or 1/10th pip values. FXCM offers Ninjatrader.
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Small disciplines repeated with consistency lead to great achievements.
  • #626
  • Nov 21, 2014 5:35am Nov 21, 2014 5:35am
Quoting thefxpros
{quote} yes, i have it on mt4 and also on ninjatrader, but in my opinion, range bars charts are better. If i find the ninjatrader plug-in in my external hard drive (that is like a jungle) i send you.

Oh, here it is the point-o for ninja http://www.movethemarkets.com/wiki/d...1">oint-o_bars

28 pips profit (demo) on dj:

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First rule is not to lose. Second rule is not to forget the first rule...
  • #627
  • Nov 21, 2014 7:42am Nov 21, 2014 7:42am
Quote
jmflukeiii

Hey do you know this chart type? As far as i saw from your trading style, maybe it can be useful for you.

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First rule is not to lose. Second rule is not to forget the first rule...
  • #628
  • Nov 21, 2014 8:09am Nov 21, 2014 8:09am
Quoting thefxpros
{quote} Hey do you know this chart type? As far as i saw from your trading style, maybe it can be useful for you. {image}
I've played with line-break charts before, and it could be somewhat useful. Ultimately though, you start looking at too many things and it just causes confusion. I know Don Miller uses them - http://www.tradingafterdark.net/

So FX, are you trading the indices primarily? Through Ninja or MT4?
Small disciplines repeated with consistency lead to great achievements.
  • #629
  • Nov 21, 2014 8:38am Nov 21, 2014 8:38am
This mornings trades -
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Small disciplines repeated with consistency lead to great achievements.
  • #630
  • Nov 21, 2014 8:46am Nov 21, 2014 8:46am
Quoting jmflukeiii
{quote} So FX, are you trading the indices primarily? Through Ninja or MT4?
I have a real account on ninjatrader. I use several mt4 platforms, one for each instrument that i trade:

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I look at mt4s and where i see a nice opportunity, in ninjatrader i switch the chart on that instrument and i trade it. Lately, primarily indices yes.

You seem to have a crosshair while you trade, you are very impressive scalper. Some of your entries are familiar to me too, other entries...i have no clue of how you do to pick those precise moves. Many compliments
First rule is not to lose. Second rule is not to forget the first rule...
  • #631
  • Nov 21, 2014 9:18am Nov 21, 2014 9:18am
again dow jones, sell on pullback:

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First rule is not to lose. Second rule is not to forget the first rule...
  • #632
  • Nov 21, 2014 9:37am Nov 21, 2014 9:37am
Moved stop loss at breakeven and setted take profit:

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First rule is not to lose. Second rule is not to forget the first rule...
  • #633
  • Nov 21, 2014 9:41am Nov 21, 2014 9:41am
Thank you Mr Draghi. His speeches usually have an effect on the euro so I traded his speech today. Sometimes the moves occur to fast for me to trade sometimes they take a little while to kick in, I think chances of being able to trade w/o chasing at about 50%. With markets the way they are now the bias
would have to be towards selling the euro. Took 3 trades long USD and short on EUR/USD & EUR/JPY. Will say this though Mr. Draghi is responsible for my
biggest fx loss in 8 years of trading 567 pips on a full lot. That trade still pisses me off because I chased an entry and took it w/o a stop in place and got whipsawed then got even dumber and refused to close trade and instead of a 200 pip loss I turned it into 567 pips.
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  • #634
  • Nov 21, 2014 10:05am Nov 21, 2014 10:05am
tp hit for 30 pips profit!

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First rule is not to lose. Second rule is not to forget the first rule...
  • #635
  • Nov 21, 2014 3:35pm Nov 21, 2014 3:35pm
Quoting thefxpros
tp hit for 30 pips profit! {image}
Nice one!

Here's my "afternoon" trading results from Ninja. Time for the weekend - have a good one
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Small disciplines repeated with consistency lead to great achievements.
  • #636
  • Nov 21, 2014 4:47pm Nov 21, 2014 4:47pm
Nice trades Jm have a good weekend. Winds blowing perfectly down here spent a couple of hours kite boarding with my wife. Shes ripping it pretty good now I've got to get her going airborne.
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  • #637
  • Edited 9:16am Nov 24, 2014 8:51am | Edited 9:16am
Just one trade for me this morning. Need to move on to other things.

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EDIT: One more reversal up around Friday's POC.

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Small disciplines repeated with consistency lead to great achievements.
  • #638
  • Edited 1:34pm Nov 24, 2014 9:49am | Edited 1:34pm
here are my opened positions:

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First rule is not to lose. Second rule is not to forget the first rule...
  • #639
  • Nov 25, 2014 8:31am Nov 25, 2014 8:31am
scalp on crude oil before US session (9 tick profit):

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again good opportunities on dow jones:

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and nasdaq:

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First rule is not to lose. Second rule is not to forget the first rule...
  • #640
  • Nov 25, 2014 9:04am Nov 25, 2014 9:04am
Lots of movement all over this morning! Good stuff on the EU; took one dumb countertrend in the middle of it all, not quite sure what I was thinking (I was thinking it can't possibly go farther!), but two nice runs and two nice scalps. I'll take it -
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Small disciplines repeated with consistency lead to great achievements.
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