How the BuyZone works on the Euro Futures (6E)

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eudamonia
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How the BuyZone works on the Euro Futures (6E)

Postby eudamonia » Fri Nov 30, 2007 5:17 pm

Avery asked me to post some screen shots and explanations of how I trade the hourly BuyZone on the 6E.

My setup consists of drawing horizontal lines on the open of the day 9:30 EST and redrawing those lines each hour so redraw at 10:30, 11:30 EST etc. From there I draw a line 3 ticks above the hourly open and 3 ticks below the hourly open.

Based on the statistics that Avery has talked about among the currencies, the EUR/USD tends to range about 19 pips per hour. I figure this is pretty similar in the Euro futures market.

My target is 10 ticks, stop 5 ticks. I also use a time stop. If the market hasn't moved at least 5 ticks to the good at some point in the first 5 minutes of my trade I'm out. I can always re-enter. Once I get my 10 ticks for the hour I'm done. IT REALLY IS THAT SIMPLE!

Over the past 2 weeks this has averaged me a net of about 4-5 ticks per hour. Doesn't sound like a lot of money right? But that's an average of 16-20 ticks per day.
Attachments
6E_hourlyBuyZone2.GIF
A choppy hour
6E_hourlyBuyZone2.GIF (20.72 KiB) Viewed 1653 times
6E_hourlyBuyZone1.GIF
An easy hour
6E_hourlyBuyZone1.GIF (17.43 KiB) Viewed 1653 times

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Postby lloydphilip » Mon Dec 03, 2007 6:20 pm

Pretty cool...now I just have to think of a way to wrap this around my personality and find my comfort zone...I want to thank you and Avery for sharing

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Postby eudamonia » Mon Dec 03, 2007 10:25 pm

LP,

No problemo. I agree - make it your own. I just spoke with a guy on the 2% club this morning who was telling me about just taking the first setup of every hour (he didn't like the idea of getting chopped multiple times an hour). His idea was if it's a winner, great, if its a loser great. Just keep trading that way and you'll make money. Everyone has to find their own twist on a method to make it comfortable for them. Good luck LP and let me know if you have any other questions.

Edward
Eudaimonia (pron.: you-die-moan-e-a) (Greek: εὐδαιμονία) is a classical Greek word commonly translated as 'happiness'. The less subjective "human flourishing" is often preferred as a translation.

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Postby Patch » Tue Dec 04, 2007 5:32 am

Hi Edward,

Another great post. In the second chart, TradeZone2, I don't understand why the last trade turned out to be a 10 losser. While typing, it the "-" a typo? Please fill me in. jb
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO

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Postby Gert Frobe » Tue Dec 04, 2007 3:44 pm

hi Edward, Avery said you are doing great w/ the 6E; it has a very nice sweetspot for the zone.

airball

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Postby eudamonia » Tue Dec 04, 2007 5:02 pm

Patch wrote:Hi Edward,

Another great post. In the second chart, TradeZone2, I don't understand why the last trade turned out to be a 10 losser. While typing, it the "-" a typo? Please fill me in. jb


Patch you caught my typo! :oops:

Edward
Eudaimonia (pron.: you-die-moan-e-a) (Greek: εὐδαιμονία) is a classical Greek word commonly translated as 'happiness'. The less subjective "human flourishing" is often preferred as a translation.

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eudamonia
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Postby eudamonia » Tue Dec 04, 2007 5:03 pm

airball,

thanks! good to hear from ya.

Edward
Eudaimonia (pron.: you-die-moan-e-a) (Greek: εὐδαιμονία) is a classical Greek word commonly translated as 'happiness'. The less subjective "human flourishing" is often preferred as a translation.

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Postby speculari » Sun Mar 16, 2008 8:02 pm

Ed, are you still trading this method? Just wondering how its been treating you lately

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Postby eudamonia » Mon Mar 17, 2008 5:05 pm

I still trade the BuyZone on the ER2 in the morning but I've moved from trading the 6E (Euro Futures) to the USDJPY. Because of the massive anti-dollar sentiment at the moment the BuyZone has been on fire.

Edward
Eudaimonia (pron.: you-die-moan-e-a) (Greek: εὐδαιμονία) is a classical Greek word commonly translated as 'happiness'. The less subjective "human flourishing" is often preferred as a translation.

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Postby Anja102565 » Mon Nov 03, 2008 6:59 pm

Can the Buy Zone be used for e minis?

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