How do you Avoid Chop without missing the break (intraday)?

Here is an old eBook I put together - back in 2007 - gave it away for FREE.

I didn't have a problem making money - during Trends - but when it came to Price moving Sideways - which I call a Range Condition - I often lost a lot of money - trying to figure out - which way Price was going to go.

Starting on Slide 30 - is how I solved my problem. Believe it or not - after I figured this out - I wanted to see more Range Conditions - sounds weird - but it still is one of my favorite ways to trade. While I have my Algos to trade - if I do see a Range Condition developing - I sometimes trade it - as it is kind of like an old friend. Damn - that really does sound weird. This really turned my trading around.

I use Range Bars - so any trader using Minute or other type charts - would have to figure out some things - but I think it is doable. I prefer Range Bars - as they are all the same size - except for the End of the Day.

The charts are based on a 7 Tick Range Bar - my favorite setup for many years now. By the way - look at the Time Period at the Bottom of the pictures - from the Left Blue line to the Right Blue line. The Red and Green - Curves - are for Head and Shoulder Setups - my way. During that Time Period - there were 7 H&S Setups. Plus - there were MANY other trades - based on the Centerline and the Red and Green Dots - which I won't get into here. There were so many trades for 2 Ticks - or MORE.

Hope this helps in some way.

 

you cannot lose money if you enter a pb in a strong trend

 

7 bars back was entry signal - the way I trade.

Although ya won't catch me using pseudo bars.

 

Hey, I appreciate the ebook. I'll check it out.

I will say this. Even though it's risky, trading rangebound markets is much more profitable than trading trends.

 

Except you never post anything in realtime. It's all after-the-fact, even this post for that matter.

 

I have seen Range Conditions - on the 7 Tick Range Bar - last for over an Hour. This seriously did help me turn my trading around.

If you want to go over it - in more detail - let me know. I PROMISE - NO SALE PITCH - LOL.

As I said - I use Range Bars - it is hard for me to even look at any other type of bar these days. By the way - Range Bars are NOT always the same - depends on the platform a trader is using. I have used several over the years. I prefer MultiCharts - and I also like NinjaTrader.

 

But he does talk a lot about pullbacks. Think of it this way, A range is a collection of many pullbacks. So just use the same pullback strategy Brooks taught you and stretch it out to the hilt.

 

I think I'll be fine on my own, but if I ever need help I'll let you know.

 

Yup I prefer prioritizing trading over feeding my ego.

Anyway how was I supposed to post live about something that happened in the past about someone's else pseudo bar chart?

 

If you have the infamous 10,000 hrs of screen time you’ll be good. Nothing can beat that.