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

schizo said:
Sounds like you're not happy with the answers. :)

I too had some trouble trading on Friday. The range you see below tripped me up and I fumbled pretty badly. What would you have done? Let's also not forget that oftentimes you wouldn't know it's a chop until it's well over.

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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.
 

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VSTscalper said:
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.
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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.
 
schizo said:
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.
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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.
 
padutrader said:
Brooks has very loose definition of range... some bars he calls ranging PA when there is no sign of a range
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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.
 
SunTrader said:
7 bars back was entry signal - the way I trade.

Although ya won't catch me using pseudo bars.
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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?
 
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