Simple Inside Bars

foredog · Oct 3, 2009, 1:02pm

Quote:

Originally Posted by trendie

hi foredog,

interesting stats: are they based on every single trade, or only those between 6am and 10pm or something?
also, are you using the additional filter of only taking longs if IB is above midnights price, and only takng shorts if bar is below midnights price?
I have DIBS TriggerLines1.1, and I cant replicate the 17 trades. (maybe I am using the wrong exit rule)

the most useful component is the small-stop, and thus the better returns when a runner occurs, rather than the wider stop, more wins, but ultimately lower return.

that aspect is one component that tends not to be discussed, since people are too engaged in entries and exits.

good thread.

EDIT: have uploaded the alerter I used. Is this it?

Hi Trendie, the 17 trades were mostly IB's but a couple of Pins bars as well. All were below the 6am open and below 50ma (shorts) and of course above 6am and 50ma for long.

Hopefully the chart below has come out and shows the 1 winner so far on the account.

http://4.bp.blogspot.com/_IkUL-_2oWq...cable+24-9.jpg

foredog · Oct 3, 2009, 1:07pm

Quote:

Originally Posted by Splitlink

By small stop, do you mean that the stop is close to the end of the IB? I think that that is risky, as a lot of the IBs I have studied make false moves.

I have been studying these bars afresh, after a long time, and have come up with a plan for me to try next week. For me, the IB is a trigger to enter the trade but I need other factors that, I believe, indicate trend direction. They can be averages or, if the averages are flat, SR lines.

Split

I always have a 20pip stop, IB's etc are meant as breakout tools and it's either going to go or not, if it comes back 20 pips from my entry i feel it's probably not going to go. Occaissonally it will come back from there but i feel that for me it's better to have decent size on the trades that do run than have big stops small size so even the ones that go 100+ will only be delivering 2x risk.

It seems to be that they only "win" 50% of the time so i'd rather have my 50% delivering 3, 4 or more times risk than 60% or 70% winners but only 1.5x risk.

That's just me though.

It would be good if you could let us know how you get on with your plan next week.

foredog · Oct 5, 2009, 1:45am

Long Cable at 15997, wasn't really an IB on ETX charts, high was 1 tick higher, but with IG it was. Trade looked worth taking though and i'd take it again whether this one wins or loses

Will post chart later.

foredog · Oct 5, 2009, 4:04am

Stopped out for -14 as had move stop to below low of previous candle. Trade did run 20+ pips into profit, but my rule was to move to BE at +30, if i start moving it at +20 then before i know it it will be when up 10 and start missing the big moves.

Splitlink · Oct 5, 2009, 6:13am

Quote:

Originally Posted by foredog

Stopped out for -14 as had move stop to below low of previous candle. Trade did run 20+ pips into profit, but my rule was to move to BE at +30, if i start moving it at +20 then before i know it it will be when up 10 and start missing the big moves.

I'm doing Footsie. I could have taken a loss of 16 points (roughly). It's very much an experiment for me and I have a stop of 30. However, this is a dull day and painfully slow. At present my potential loss has improved to 9 points.

I used TF5, then TF10. Now, because of the slowness, I am on TF15. I have been spoiled for choice on TF 5 and TF10. Lots of IBs.

I know that you recommend TF60, but I don't get good results on FT.

neil · Oct 5, 2009, 6:29am

Quote:

Originally Posted by foredog

Long Cable at 15997, wasn't really an IB on ETX charts, high was 1 tick higher, but with IG it was. Trade looked worth taking though and i'd take it again whether this one wins or loses

Will post chart later.

What time was this inside bar?
Was it on the hourly - in which case there was an IB on 5am bar?

foredog · Oct 5, 2009, 6:32am

Quote:

Originally Posted by neil

What time was this inside bar?
Was it on the hourly - in which case there was an IB on 5am bar?

Yes, 5am was an IB, will post a chart at the end of the day with any additional trades on there.

foredog · Oct 5, 2009, 6:33am

Quote:

Originally Posted by Splitlink

I'm doing Footsie. I could have taken a loss of 16 points (roughly). It's very much an experiment for me and I have a stop of 30. However, this is a dull day and painfully slow. At present my potential loss has improved to 9 points.

I used TF5, then TF10. Now, because of the slowness, I am on TF15. I have been spoiled for choice on TF 5 and TF10. Lots of IBs.

I know that you recommend TF60, but I don't get good results on FT.

Yes, never really found that many good ones on the indexes whatever the TF, not studied them massively though.

Oct 5, 2009, 4:04am	#156
foredog Legendary Member Member Since Oct 2007 1,885 Posts	Re: Simple Inside Bars Stopped out for -14 as had move stop to below low of previous candle. Trade did run 20+ pips into profit, but my rule was to move to BE at +30, if i start moving it at +20 then before i know it it will be when up 10 and start missing the big moves. __________________ IF IN DOUBT GET THE **** OUT! No need for a course http://www.trade2win.com/boards/gene...tml#post707344 Simple cable system http://simpledibs.blogspot.com/ http://www.trade2win.com/boards/trad...side-bars.html

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