Buy Zone

If you don't know where to start, start here! Don't be afraid to ask questions.

Moderator: moderators

Footrot
rank: <50 posts
rank: <50 posts
Posts: 5
Joined: Wed Sep 23, 2009 12:58 am
Reputation: 0
Gender: None specified

Postby Footrot » Wed Feb 03, 2010 1:08 am

Re: Buy Zone For Dummies
Great tool. Do I simply enter both trades long/short and wait for one to get hit? Or is there a better way. I have the joy of only being active on the Asian market son concentrate on USD/JPY EUR/JPY.
All advice gratefully received.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 11397
Joined: Sun May 14, 2006 9:31 pm
Reputation: 45
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Wed Feb 03, 2010 2:03 am

If the price is above the weekly open look for longs.

If the price is below the weekly open look for shorts.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

xbx
rank: <50 posts
rank: <50 posts
Posts: 4
Joined: Mon Jan 04, 2010 7:33 pm
Reputation: 0
Gender: None specified

Postby xbx » Wed Feb 03, 2010 8:45 pm

I just read babypips archive HTML files that I found here, amazing amazing your description and your guide to see what is really in the charts help me to find true way in forex.
I have a suggestion, I search and even save most important threads in this forum to read them one-by-one , I try to find a sticky topic/thread that newbies like me ask their questions and old members and experts come and answer them. if there is a sticky thread all simple (for experts) and difficult(for newbies) collect in it and will be a good guide for next and new members.
sorry for my english, it is my second language.

Thank you

Pro Trader
rank: 150+ posts
rank: 150+ posts
Posts: 225
Joined: Fri Jan 29, 2010 11:13 am
Reputation: 0
Gender: Male

Postby Pro Trader » Wed Feb 03, 2010 9:57 pm

TRO in your Buyzone B2B you say that its best to go long if price is above the daily open and short if below the daily open. Above your saying weekly. Which is it? Do longs have to be above the daily and weekly open and vice versa?

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 11397
Joined: Sun May 14, 2006 9:31 pm
Reputation: 45
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Wed Feb 03, 2010 11:53 pm

Both.

If both are green... look to go long

If both are red... look to go short.

If daily green and weekly red, go long with extra caution.

If daily red and weekly green, go short with extra caution.

When I wrote B2B, I had not run weekly statistics or frequency distributions.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



Please do NOT PM me with trading or coding questions, post them in a thread.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

Pro Trader
rank: 150+ posts
rank: 150+ posts
Posts: 225
Joined: Fri Jan 29, 2010 11:13 am
Reputation: 0
Gender: Male

Postby Pro Trader » Thu Feb 04, 2010 9:09 am

Ok thanks for clearing that up. So its increasing the edge and minimising the risk basically?

I use a 5m chart with the TRO_Range_Gauge set to show D1 stats using the period 1440 and the TRO multi meter candle colour. Whats the period to show the weekly stats on the range gauge from a 5m chart or will the candle colour suffice?

Thank you for all the work you do for the trading community. It must take a lot to keep on answering questions from newbies and pros alike day in day out year on year. Especially when you don't need to.

Though many do not show appreciation a number of us are truely grateful.

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 11397
Joined: Sun May 14, 2006 9:31 pm
Reputation: 45
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Fri Feb 05, 2010 12:57 am

Weekly period is 10080. Monthly is 43200.

http://docs.mql4.com/constants/timeframes
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



Please do NOT PM me with trading or coding questions, post them in a thread.

Pro Trader
rank: 150+ posts
rank: 150+ posts
Posts: 225
Joined: Fri Jan 29, 2010 11:13 am
Reputation: 0
Gender: Male

Postby Pro Trader » Fri Feb 05, 2010 1:59 pm

Thanks again TRO

I've found buyzone works a lot better for with this info re D1 and now with W1 aswell. Which setups do you normally trade? I know your a green rat with DTB are you the same with buyzone?

I've found that both systems work really well but what you do in the following situation?

Price is below D1 and W1 at start of the hour so you could go short.
BZ short is triggered and indeed price falls.
Price is soon within 20 pips of D1 low so you could ride price back up with DTB like a green rat right?


Would you take both the BZ short then the DTB long or would you just ignore the fact that price is below D1 and W1 on the BZ setup because your a green rat whatever the system and jus wait for your DTB long setup?

I've noticed this situation can happen quite a lot.

Being in the UK I trade around London open when I can. Infact from 6:00am GMT Im at my screen. MBT Daily candles open at 5:00am GMT so by the time Im at my pc many pairs are within 20 pips of the daily low as the day has just started. IMO this is probly the best time for DTB setups (not that I've accessed other times much but still). I must say DTB is genius. Only thing is BZ trades are also around at the same time but often opposite to DTB green rat.

I know Im a green rat for DTB but not sure about BZ

What are your thoughts?

User avatar
Phil
rank: 150+ posts
rank: 150+ posts
Posts: 160
Joined: Wed May 19, 2010 6:45 pm
Reputation: 0
Gender: Male

Postby Phil » Wed May 26, 2010 1:30 pm

TheRumpledOne wrote:Both.

If both are green... look to go long

If both are red... look to go short.

If daily green and weekly red, go long with extra caution.

If daily red and weekly green, go short with extra caution.

When I wrote B2B, I had not run weekly statistics or frequency distributions.


I´m a green rat but does this suggest that we can go long as well as go short?

I´m still having difficulties finding the right method for me, DTB in the Rat Zone or the Buyzone. I did a couple of trades according to the BZ and did have profit but i must learn to take a bigger profit. In this case i took 1 pip profit but then a losing trade came and i did lose 15 pips...

Perhaps i must learn not to overtrade...

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “beginners forum”