Trading with range bars ichimoku cloud & awesome oscillator

Hey Tradermattb,

Feel free to ask anything you want about my trading.

1) yes I am very consistent and disciplined about what and when I trade. I trade consistently with 4 different systems my win rate is around 80% with all systems
I don't post all trades though I can if thats what every body would like. Most of my "losses" are less than 10 pips/ticks and the occasional full stop loss of 20 and probably 30-40% are b/e's.
2) There is nothing negative about your question actually surprised no one asked before.
3) If you look at the charts I've posted you should notice that they tend to look pretty similar, I think of myself as a visual trader and certain PA I find very appealing
while others just provoke an immediate discard. Once I discard a chart I never go back to it that day.
4) I am no trading guru, I try to offer simple insight into what i do, because with day trading especially people tend to get way too complicated. If I took all the the indicators off my charts it would make no difference(I think) because in reality I'm trading PA.
5) There are people on this thread who are way more knowledgeable than I am about technical analysis such as Ezcurrency, who can swing trade while I am spectacularly bad at it.

In closing after thinking through this post, I will start posting all trades I make with this system starting Monday. I do this thread to try and help other traders filter
out the noise and simplify because at a certain point, information overload occurs and decision making crashes to a halt. So to all who read this thread always feel free to question me about anything to do with trading including my results. As my wife will attest my ego can handle it.

My favorite thing about this thread is that is has never descended in to name calling and fights like so many other threads and for that my gratitude to all.

Hi rocky..

Very kind words from you,
I think it is okay to post your four another system,
So that we could learn all the trading process of your thinking.. Or just give example four system with simple explanation if you dont mind.
I tried your system but still can not consistently. When i looked your charts seems easy. But when live trading it is so difficult. Even though i followed all your instruction. Maybe when I tried this system does not function any others system that can function.

Thx rocky

Golden-way, I know it is late response and maybe I am not an expert, but I want to respond to the question you asked at post 1481. I took both short entries (both losses) BUT I knew they were rather aggressive trades for couple of reasons. First that time we had uptrend, secondly the market was testing the previous resistance that by that time became support and finally 10-15 minutes before news and 10-15 minutes only after US banks open (not NYSE, just banks).
I am going to post the 1 of the trades took on Friday. It is not the same because gnzd was clearly in downtrend (off course we never know when downtrend will end, but it is wise not to go against trend)
I have in a box the Asian session. After London market tried the break from Asian session (typical London movement) and came down the horizontal line you see I have marked at 1.72327 lvl. This is normally a retest of the lvl. My trade (I know, again the same mistake took the short at 1.7229lvl- pending order), 20 minutes before gbp news and in NFP day!!!! AGAIN the same mistake. It doesnt matter if the news were in my favor.
Rocky's system is rather good in my opinion, but as all systems need to calculate different parameters. Not all the trades above or below the cloud are tradeable (or after the breakout). For example I prefer to wait London open and later place my orders (this is not always the case, but my main plan is that)
Also if you look closer at the 5min chart you will see that time 5 candles showing market's indecisiveness. This is a clue that a break is coming, but you never know where the market go (up or down) - The same 5 minute chart 2-3 days ago when market instead of going down went up.

PS In 5 min chart you might think that it is an uptrend, but in higher tf it is definitely downtrend
PS2 Those horizontal lines were drawn rather earlier (cant remember when now) and were main reason (in accordance with Rocky's system and renko too) that took that trade.

Post 1492 - an excellent summary of your approach Rocky. Thank you for your excellent contributions for aspiring traders.

@F_dimi thank u for ur response
as RP and many others mentioned before over and over.. the success is in simplicity, i,ve focused alot on Rp s system and what ive learned is this:
when he says many times: i was sleep on this and that.. when he says: the timing does matter... u may think its just a comity ! but its not !
and if u noticed almost ALL of failed situations that people ask him about the reason... that returns to timing problem also !
take a look at recent orders of him... even at that moment he entered short there was a really strong divergence to the upside..![for example gbp-aud last week ] but thanx to time of opening the US market and the high pressure of it it will continue down after break out enough to makes u pips , even u,ve seen last week after that it made it complete upside in some currencies.
so in my experience u can not use this strategy for the rest of the day, only to catching the pressure of start. [[ other wise u would be stucked and confused.. is this TL or hi/lo valid or not ?! and u would be bombed with indicators or harmonics or PA rules on ur head !! ]] . (even look at the pics in post 1481 that u mentioned)
and this is very smart way to make money! takes less time and give more pips, so why not ?

@RP
- do u trade anytime else other than the begging time?
- when u say u dont need to any indicator cuz u r basically a PA trader... can u clarified that as well ?
i knw there are so many PA rules but since most of ,em are used in timing candle charts... and not much in range bars, so that left us a few
what are those and how should we look at charts to be needless to indicators and anything else?

cheers

Read post 1492 then go and start at Post 1. That's all you need plus PRACTICE...Practice is what makes you better keeping to Rockies original approach. And accept you have losers. You sound like a very new trader so I urge you to demo trade first.

Hi turnip15

Not that simple.. When you do the real.. Believe me.
Not being negative but when you only have mt4 for practice , there is completely different from TOS. Maybe ninja trader has a best similiarity reads ticks data. Like i said before, easy to see but hard to do. Gw maybe asking like a basic but it help a lot for me. And maybe others traders.. And i think GW not a very new trader. I learned almost 4 years too. Somehow rocky's trade made me like a new..

there is no benefit in making things complicated! most successful traders have simplest and smoothest point of view to the market, i know many of ,em and here is RP, and there are many master coders who can eat all systems and indicators ALIVE! understand every aspects and systems to even make them code by code..!
but desperately trying and surprisingly happy if they can make 5-10 pips in a day !
i,ve been there years ago like most of us at the beginning and yes im trying to make it even easier by easiest language i can and everything, and if it sounds defect let it be! simply dont care.

@turnip i think u r new in the thread, so welcome
(that post that u mentioned as a great post of RP [which it is] happend out of a simple childy demo question! ) u can always learn if u listen more :- )
" as a great man once said: knowledge is a treasure and the key is to ask"
stick around for a while pal then we talk

regards

Peezeroo, I am not going to post 4 systems on this thread, it would make things too confussing

GW, no I almost never trade any other time then around the open'

Trading naked PA is knowing price structure, being able to draw valid TL's, PL's don't think its any different for range bars then it is for time based charts.

That said I do trade using indicators, because for me it provides good signals on when to start looking for a possible trade from as simple as the AO crossing the zero line to
finding divergences.

yes what i meant of different was like engulfing -inside and out side bars&...in japanese patterns and like 2b &... from other patterns.. theres tons of patterns out
there which cant happen in range bar charts

[Trading naked PA is knowing price structure, being able to draw valid TL's, PL's don't think its any different for range bars then it is for time based charts.
]
then if u dont mind plz talk about those some times too
[its repetitious i knw but good to hear it from RP viewpoint]

cheers

Don't think 2 bar patterns are very reliable for day trading. Trading range bars you use price levels, tl's, channels, triangles, double/triple tops/bottoms etc.

Hello everyone, I'm currently in the middle of back reading this thread. It has been a a gem and I've been learning a lot! Thank you rockypoint for sharing this simple but effective system.
I used to trade Ichimoku but at higher timeframes around 1H to 4H, busting up a couple of accounts in the process. Nothing wrong with the system, the fault lies in my impatience and greed. For me, the trades take too long while only having a few entry signals on those higher timeframes especially as I love to watch the charts and the price action. It's just too hard to resist entering on an imperfect signal during those long, slow days.
Will continue studying and demo testing the system shared in this thread until I'm comfortable to go live. So far so good!

Do you think your methodology would still be profitable if you increased the tick size of the range bars and swing/position traded instead?

AUD retail sales missed, but AUD not hammered too bad and stood up well --> AUD bullish
EUR factory orders hugely exceeded expectations, but EUR sold off --> EUR bearish

This led me to look for EUR shorts:


EJ short still open, TP below, SL at entry, 0 risk


EZ + 32; only exited since heading to bed and to lighten up EUR short exposure


ECad + 20; only exited since heading to bed and to lighten up EUR short exposure


EA added to anchor trades short, net SL at b/e. This is a swing trade ... AUD rate decision tomorrow, but AUD near highs across the board, so will hold short EA for now. Will evaluate again tomorrow on this short add ... maybe hold, or maybe TP before rate announcement. Will keep anchor trades.


EZ

GJ eu session

Hey Ergo, You sound like me when I started trading, no enough action swing trading. Which led to dumb trades.

Hey Forextrades, Yes system should work for larger bars, only way to find out is to trade it. I won't I stink at swing trading.

3 trades for me today FX only, most of the moves were earlier 2 so far closed out for profit, 1 still open had stalled then moved against me but came back and bounced off the PL back up. See what hasppens in all probability a small win or b/e. Will post when i close trade.

Heres my last trade, just shows you never know whats going happen, my worst trade turned into my best trade of thew day. Sometimes luck beats the hell out of knowledge.