Trading with range bars ichimoku cloud & awesome oscillator

Hello RP

Thanks for a great thread I have TOS which I just signed up for not a live account yet as I have always been a MT4 person. I cant seem to replicate any of your charts is it something that is only available on the paid portion of the platform.

Has anyone used a PARSAR to manage the trades. Last night I had a nice trade on GBP/USD. I took a short which eventually hit for 45 pips ( closed it around 1.4100 because I was nervous and missed the cliff dive to 1.4000) This is a common occurrence with me but I seem to be great at praying my losers will turn around, but I digress. While in that trade price broke thru the cloud briefly and I went short only to have it reverse immediately ( happens to me all the time) and go negative for 25 pips. It was then that I realized I really didn't have a plan to get out of the trade. I didn't panic and opened 2 regular price action charts 15 and 30 minutes and decided that since price had not closed above the cloud on the 15 and was at the bottom of the cloud on the 30 I would hold the trade.

so in a long winded way are there any parameters for exiting and entering that work better than others

thanks again

Sanfranfan: Greetings and thanks for the kind words.

1) tos charting should be the same on paper money account as a regular account, what specifically are you having a problem with?

2) psar , i think would be taking you out of trades too quickly.(tends to work better on longer term charts)

3) any trade you enter, you need to have an exit plan before entry.

For exiting trades i use mainly pa, breaking s/r areas ie. Price level, trend lines, breaks in swing structure, also use dvrgs. Forming against trade, price entering cloud, ao cross overs. I believe pa works best (for me).

Thanks

I have slowly come to the realization that following magic arrows and dots are a pretty sure way to the basement. I like the simplicity of the system my question would be do you ever use time frame analysis of support and resistance to help in you trading or do you use strictly the range bars.

IE...Price is in a down trend on a 60 minute chart. and is hitting the bottom of the cloud at the same time it is breaking thru the cloud on the range bar charts. A buy at that point would effectively be buying into resistance.

Thanks

May I ask how to avoid the sideway?
Does the ichimoku cloud work better than HMA?

The cloud helps with that for me I trade it as price leaves the cloud with a close below. If you take a look at cloud formations a sideways market is generally when the cloud is most narrow and the KIjun sen is pretty flat.

Hey Sanfranfan:

1) No I don't use time based charts at all when I trade. I do look at them on weekends.
2) When I start trading I open a work space with 12 pairs, 1 day 50tick range bars
3) Zoom in on last 4 hours, if chart looks promising keep it open if not toss it.

All the people I know who are good traders, PA is always #1 to any other indicator. I try to keep it as simple as possible.(I'm lazy) You are right about the Ichimoku and side ways movement thin clouds and flattened Kinjun.

Microsat mentioned the HMA which I think works really well for scalping on sideways days or scalping any day.

some winners from this morning




also had 2 loosers and 2 other winners... total +100pips. that's it for today.

congrats,
but your trades look a bit different, or it is only my eyes?

the 1st, GU looks like a clear cut RP trade....
the other look different, though I am happy for you that it worked out.

also, would be very educational to post the losers too you had, sometimes lot more can be learned from those than only winners.

Hey...
RP u once said "shame on me" for a not so bad situation...
here look ! the real shame on ME !
i wasnt before the chart when its happened, but anyways...!

I agree that the losers is often more helpful! Next time I'll post all traders.

So regarding your comment that the second and third trade looks different. It might be because they are what I call "bounce off" trades. I use them because:
-I may have missed the initial breakout but I still consider the break to be valid, so when the price retraces back to the S/R level, I enter in the original direction with a tight SL (often these trades will have shorter SL than the original breakout trades...which I like)
-I saw the original breakout bud considered it to be a plausible false breakout, so I let price retrace towards S/R and watch the momentum of the retrace and use that information as decision if I should enter orinot (If I enter, it's always in the direction of the original breakout)

hope that cleared it up a bit

eddman,

I saw your thinking...
all I pointed out it isn't the usual RP setup.

Thought I'd add something to this thread, I'm enjoying reading all your posts. Here's a trade I just closed today.
I don't personally use range bars or a power meter but look at support/resistance and trendlines on higher time frames to check there is movement possible and to try and reduce risk.

Nice trades Eddman you enter continuation trades a little more aggressively than I do usually but nothing wrong with that.

GW, you the long? I always wait for close of the candle before entry. What was cloud and ao doing?

Looks like I missed some good action during the london open, just 1 trade still open on ZS.

Closed trade same candle for 20+ mins. made a little on a small win traded 3 contracts. Just noticed my exit was on the last candle not the 1 before where it marked.

no actually it is a break evened short !

Skdew, nice trade doesn't matter if you use range bars, trade you comfort zone.

GW, Not sure what you did, you are showing 15 min. chart with no cloud or ao.

Wedge/Divergence in Crude.