Simple Inside Bars

[Splitlink]

Split

showing your years of discretionary experience there mate

not to bad at all considering

have a good one tomorrow

Andy

Thanks for the charts, Andy, I've downloaded them for future reference.

 

[Splitlink]

Dead right Andy, got to take the trades, even said it myself on here, especially on a little account like this! Even after years of experience though human natures of greed and fear affect us sometimes.

Seems really stupid because i know using this method you will probably only get around 50% winners and yet I let two losses in a row put me off taking a trade, even though there has been periods of 5 in a row before.

NB...lots of other stuff going on today like pc's blowing up so probably not the best day anyway.

On to the next trade then, probably be a loser...

I'm glad that I didn't let myself in for that 50% rule. That's yours, buddy!

 

[foredog]

I'm sure you could get this rate up to 60%+ with a larger stop or not moving the stop up to the high/low of every candle, but as these are mainly a breakout tool then i want a decent size stacked on the winners and to be out of the slooooow choppy trades quickly.

That's the aggressive city boy in me still, "first cut's the cheapest" and all that.

Glad to see you've had a decent winner with you're strategy, 50+ points from two trades isn't bad at all, be nice if it could work like that every couple of days!

 

[trendie]

foredog, do you only take 1 trade a day?
you seem to take the early morning trigger, then nothing.

 

[tenbobtrader]

Thanks for the charts, Andy, I've downloaded them for future reference.

there you go

full set to show the Mrs

later

Andy

 

[foredog]

foredog, do you only take 1 trade a day?
you seem to take the early morning trigger, then nothing.

Hi Trendie

Apart form today, with my dithering I'd normally take all the IB's/pins that fit the criteria up until about 1600 UK time, when i pack up for the day.

Just happens that there haven't been any really after the opening breakouts this last week.

 

[Splitlink]

Taking the first trades of the morning session may not be a bad idea. I have been looking at my TF15 for Footsie. There are stacks of them during today's lunch period. That's a black point for them on the index because, looking at the hourly bars, there is not one, so if I was trading them, I would not have made a cent, this morning. Therefore, it seems to be feast or famine.

 

[foredog]

Todays trade, and the one that got away!

 

[mrsoul]

Great thread Foredog.
I've noticed that if the Holding Bar is very long, it is better to pass on the trade.

 

[Technically Fundamental]

I took that second one but jumped out when it moved against me. Still get scared of taking losses :S

 

[gedward3]

Great thread Foredog.
I've noticed that if the Holding Bar is very long, it is better to pass on the trade.

I agree with you on that Mr Soul.

The smaller and contracted that IB is the more chance of a
significant breakout into profit.

 

[neil]

Shares Fourdog

Foredog
Try a share like RIO on 15minute IB and/or Pinbars

 

[foredog]

Cheers Neil, but i packed up on shares 6 months ago as there was very little liquidity, half the time there wasn't even 1000 shares on the bid in Rio and it could esily gap 10p the wrong way.

Even stuff like HSBC that used to be easily in 50000 was sometimes only in 5000 if that. Too much hassle. If i get the chance i may look at US shares as more liquid, need to be DMA for that though as otherwise spreads would kill.

 

[neil]

Good point

Cheers Neil, but i packed up on shares 6 months ago as there was very little liquidity, half the time there wasn't even 1000 shares on the bid in Rio and it could esily gap 10p the wrong way.

Even stuff like HSBC that used to be easily in 50000 was sometimes only in 5000 if that. Too much hassle. If i get the chance i may look at US shares as more liquid, need to be DMA for that though as otherwise spreads would kill.

Out of curiousity who would you use for DMA (besides IB) ?

 

[foredog]

Great thread Foredog.
I've noticed that if the Holding Bar is very long, it is better to pass on the trade.

Do you mean the IB or the Bar before?


If you mean the IB then yes, think of a coiled spring....

If you mean the previous bar then they can be good if long, eg a sharp rally then small profit taking/fighting between bulls&bears before price kicks on.

 

[Splitlink]

Quiet around here, isn't it?

I did not have a very good Footsie session, this morning. It is, all very, up in the air as far as IBs are concerned. I closed out with a 9 point loss.

I happened to be looking at the EURO/GBP at about 1140 and it was on TF10 that I saw an inside bar.

I shorted that very quickly and without much thought. It was there and I traded it and closed with a gain of 28 points. So I netted 19 points on the morning.

What is your opinion on that? Should I have taken it on a TF10? I made money, so I guess that justifies it for this morning, but for the future?

 

[tenbobtrader]

Quiet around here, isn't it?

I did not have a very good Footsie session, this morning. It is, all very, up in the air as far as IBs are concerned. I closed out with a 9 point loss.

I happened to be looking at the EURO/GBP at about 1140 and it was on TF10 that I saw an inside bar.

I shorted that very quickly and without much thought. It was there and I traded it and closed with a gain of 28 points. So I netted 19 points on the morning.

What is your opinion on that? Should I have taken it on a TF10? I made money, so I guess that justifies it for this morning, but for the future?

Hi Split

well you no my opinion on them

see post and others

http://www.trade2win.com/boards/trading-journals/43898-simple-inside-bars-24.html#post929064 with a bit more detail

you have enough market knowledge and experience to trade any entry trigger method Split imvho

others new to the market ........ :?: its their money I guess

M15 is a very short timeframe to trade them in ...... bit of a wild punt really if used in isolation

M10



anyhows out a timeframe Split

nice H1 IB at potential R area on the ftse today

later

Andy

 

[foredog]

Cable has been a choppy old beast today so no trades so far. Most other things look similar, would've been a nice short of 5am bar EURJPY, and there was 30 odd pips in AUSUSD. Not that i played either, EURJPY been too choppy lately and was sorting something out withthe builders and missed the AUSUSD, did manage to catch the losing one later on though.....

But for the ETX account, no trades.....yet

 

[foredog]

Short cable on the break of the 1300 IB, 15872, stop at 92.

Don't hold out much hope for this trade but as discuss yesterday, got to take them all..you never know!

 

[tenbobtrader]

Cable has been a choppy old beast today so no trades so far. Most other things look similar, would've been a nice short of 5am bar EURJPY, and there was 30 odd pips in AUSUSD. Not that i played either, EURJPY been too choppy lately and was sorting something out withthe builders and missed the AUSUSD, did manage to catch the losing one later on though.....

But for the ETX account, no trades.....yet

Short cable on the break of the 1300 IB, 15872, stop at 92.

Don't hold out much hope for this trade but as discuss yesterday, got to take them all..you never know!

foredog

sure Split gave himself a split'''ing headache with them IB's on M15

just wondered are you considering other filters for trade selection or not ?

have you tried other filters in the past that amounted to nothing ?

obvious in hindsight that its a chop chop day

better :clover: tomorrow with it foredog

Andy