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NEVER LOSE AGAIN!! - TheRumpledOne
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NEVER LOSE AGAIN!! - TheRumpledOne

  #61 (permalink)
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websouth View Post
An alternative to trading off the cracks in your monitor screen...hehe
If 7 ticks is the tipping point. In other words - Once it reaches this amount it takes a while to come back - then look at a 7 range chart. Only play green or red rat. In other words only be a net long or net short player not both. For net long Enter on close of green bar (price has moved 7 ticks in your favor. Place stop loss at bottom of entry trigger bar. Exit on profit or at close of red bar. ( 7 ticks against your chosen direction) Profit may be 3 or 4 ticks or may be 20 ticks. Don't try to filter. Just keep losses small. Simple. Try it on SIM first.


So which image below predicts the future....answer neither.

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I do not understand how this 7 range chart works. The bars overlap. The 7 pips range should be discrete with no overlap.

If plot horizontal lines every 10 pips. I can watch price walk or run up and down the 10 pip "stairs".


Last edited by TheRumpledOne; September 15th, 2009 at 11:31 AM.
 
  #62 (permalink)
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I know statistically, that price will retrace 20 pips or more off the bottom

 
  #63 (permalink)
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OPPORTUNITY TIME

 
  #64 (permalink)
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Range Bars

Nicolellis Range Bars were conceived in 1995 by a Brazilian broker and trader - Vicente M. Nicolellis Jr.
During 13 years running a trading desk in Sao Paulo, where local markets tend to be volatile, he wrestled with the problem of how to handle this volatility and its variability. Finally he concluded that the most promising approach would be to eliminate time from the equation, and just concentrate on price.
After all it is price that you trade (rather than time, unless it is an options market).
Essentially this reverts to the early days of Technical Analysis, and the use of Point an Figure Charts which just record price changes.
By using a constant range, ex. 10, and opening a new bar once that range is covered, one can also apply modern concepts of indicators, which are bar based.
In 1996 the concept was computerized, which meant that many more markets could be studied.
Experience in the last 8 years has shown that Nicolellis Range Bars are particularly good at focusing on and clarifying movement.
The way in which a long meandering, horizontal "congestion" is condensed into a bar or two, concentrates attention on the essential underlying price movement while eliminating unnecessary "clutter" and "noise".
This also makes the use of Trendlines easier.

 
  #65 (permalink)
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GBPUSD + 34 off the bottom so far...

 
  #66 (permalink)
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Jeff Castille View Post
Nicolellis Range Bars were conceived in 1995 by a Brazilian broker and trader - Vicente M. Nicolellis Jr.
During 13 years running a trading desk in Sao Paulo, where local markets tend to be volatile, he wrestled with the problem of how to handle this volatility and its variability. Finally he concluded that the most promising approach would be to eliminate time from the equation, and just concentrate on price.
After all it is price that you trade (rather than time, unless it is an options market).
Essentially this reverts to the early days of Technical Analysis, and the use of Point an Figure Charts which just record price changes.
By using a constant range, ex. 10, and opening a new bar once that range is covered, one can also apply modern concepts of indicators, which are bar based.
In 1996 the concept was computerized, which meant that many more markets could be studied.
Experience in the last 8 years has shown that Nicolellis Range Bars are particularly good at focusing on and clarifying movement.
The way in which a long meandering, horizontal "congestion" is condensed into a bar or two, concentrates attention on the essential underlying price movement while eliminating unnecessary "clutter" and "noise".
This also makes the use of Trendlines easier.

Thanks Jeff.

 
  #67 (permalink)
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Re: NEVER LOSE AGAIN!! - TheRumpledOne

I'm not sure how to interpret these screens TRO... Was expecting a chart..

 
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HJay View Post
I'm not sure how to interpret these screens TRO... Was expecting a chart..

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THEY ARE DIGITAL GAUGES!!

ClOp = Close - Open

HiCl = High - Close

ClLo = Close - Low


This gauge shows me EXACTLY where price is (in pips) relative to the open, high and low of the day.

I can monitor multiple pairs to find trades off the bottom.

Easier than looking at a bunch of charts.

 
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GBPUSD + 69

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  #70 (permalink)
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Removed question as, I think I understand now...


Last edited by HJay; September 15th, 2009 at 02:49 PM.

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