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oiltradingroom.com

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Elite Member
Italy (IT)
 
Futures Experience: Advanced
Platform: ATAS, R|Trader, NT8
Broker/Data: Rithmic
Favorite Futures: CL, Brent, GC, TF
 
LukeGeniol's Avatar
 
Posts: 1,501 since Apr 2010
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I will report an extract from a discussion about oiltradingroom from another forum:

A- I signed for the trial of the oil trading room (oiltradingroom.com). It has been 2 weeks and still on trial. So far so good. Rob doesn't show his trade but his tools and his commentary are extremely good and insightful. I was able to make some money almost everyday listening to his commentary, looking at his Mega Bar chart and a bit of my own stuff trading Crude. Maybe, the trial period will be over soon. When will it be I don't know.
His MegaBar chart is extremely good. I haven't seen any bar that is as smooth and clear and gives good signal like that. Unfortunately, MegaBar is not for sale. He keeps it for himself and it is only available if you join the trading room.
The rest of the tools used in his trading room are available via the IndicatorSmart site.
Does anyone has any of this tools? They look very good. The UTB bar has been shared here before I think but looks like this version is updated and new. If you have the uneducated indis, pls post here for our expert like admis can educate them pls. Thanks for reading

B-
Quoting 
Originally Posted by A
So far so good. Rob doesn't show his trade but his tools and his commentary are extremely good and insightful.

Why do you think he won't show a DOM or Chart Trader with the trade he calls and claims he's in? Even showing SIM trades are better than nothing IMO.

A-
Quoting 
Originally Posted by B
Why do you think he won't show a DOM or Chart Trader with the trade he calls and claims he's in? Even showing SIM trades are better than nothing IMO.

I think he doesn't want us to follow his trades exactly. He wants us to learn the rules which are clear and publicly available (Rules | Oil Trading Room | Live Trading Room | Day Trading Crude Oil) and be independent so noone trades exactly like others . I am pretty sure he takes live trades himself coz sometimes he shows his chart trader with trades on. He said he want us to learn and follow the rules and he is there to give us him views and insights into the crude market which I think work quite well for me for the last 2 weeks.
So, I think this room is good for his MegaBar and his views and commentary. For the rest, you have to be on your own. It may not be good for beginners who like to copy trades but if you have your own method and want to leverage on his MegaBar and experience, I think it is good. Just my 2 cents!
Maybe, you can join the room and figure out what the MegaBar is and we don't need him any more!

C-
Quoting 
Originally Posted by A
...Maybe, you can {...} figure out what the MegaBar is and we don't need him any more!

What did you find as an extraoridinary feature of MegaBars?
You can try to achieve the same by using any renko types with the ability to change the parameters of bars.

Quoting 
Mega Bars are a sophisticated type of bar with characteristics that appear Renko-like. {...} The brick portion of the bars are 5 ticks and a reversal bar is 10 ticks.

A-
Quoting 
Originally Posted by C
What did you find as an extraoridinary feature of MegaBars?
You can try to achieve the same by using any renko types with the ability to change the parameters of bars.

can you make the same type of bar ,admis? or point me to the renko bar that looks the same. I am no expert on this type of renko bar so I do'nt know whether it is possible to to create the same type of bar like his.
Looking at the blog articles and the image, you can see that every time the Megabar engulf entirely the previous bar which is running opposite direction, it produces good buy and sell signals. Coupled with the high volume on these engulfing bar. It can provide good signals and stops are just below/above the signal bar . Of course, we need to understand the current trend and context to filter out counter trend trades.
Also, the bar with the wick against the trend is also good I think
Anyone can point me to the same type of Renko bar that has wicks and the brick portions and reversal parameters can be customized?

This is the screenshot I took in the trading room with my annotation.
09.14.2014-03.53.13 - FuturesSpec's library

Blog articles:
High Volume Mega Bar Early Entry day trading Crude Oil
Mega Bars- Extraordinarily Smooth Price Bars for the Crude Oil Trading Room
Basic Room Rules and Learning Early Entry | Oil Trading Room | Live Trading Room | Day Trading Crude Oil
Mega High Volume Bars With Trend Entry in Crude Oil: Today in Review

Ps: The author said he is confident that noone can create the same type of bar . That's why the rules are publicly available. And he doesn't sell the MegaBar

C- You can try to check SBS renko or Better renko.
btw. "...the Megabar engulf entirely the previous bar which is running opposite direction, it produces good buy and sell signals." - This is rather a drawback than an advantage of this family bars... Try to measure the maximum range of reverse (engulf) megabar.

Edit: I've just sent (in another thread) hpBars which you can test as well.
Ticks To Continue: 5
Ticks To Reverse: 10, (2*Ticks To Continue)
Shift: 1

A- Thanks C. I think it looks quite similar to BetterRenko bar.

Take your Pips, go out and Live.
Luke.
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