Kenyuki
Your charts are looking good.
What broker are you using and what is their spread on GBPUSD?
Patch
In VA
Kenyuki's BuyZone Trading Blog
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No 0800 trade unfortunately, another trade got triggered on USDJPY earlier, so I'll let that one roll, you know, limit market exposure and stuff.
The long trade on USDJPY is documented here: http://meetpips.com/members/Ken/trade_entries/12530
Cheers,
Ken
The long trade on USDJPY is documented here: http://meetpips.com/members/Ken/trade_entries/12530
Cheers,
Ken
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Dear Trading Blog,
Sorry for not trading the Buy Zone today.
I was not feeling well last night so I took a time out this morning before I start making stupid mistakes again (see my drunk trading episode).
But not to worry, all is good, trading is fun and simple, but not easy. Still hooked on it
Till next week,
Ken
Sorry for not trading the Buy Zone today.
I was not feeling well last night so I took a time out this morning before I start making stupid mistakes again (see my drunk trading episode).
But not to worry, all is good, trading is fun and simple, but not easy. Still hooked on it
Till next week,
Ken
- mysticalchemist
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Something to look at..
Hi,
I wrote before about some different ideas. Here is one to test yourself if you like. Not quite buyzone but...
One trade per day using EUR/JPY H1 chart. Buy or sell at the end of the fourth hour bar in the direction of that bar. If the bar is falling, then sell. If rising, then buy. Set TP at 50 pips and SL at 10 pips, and then walk away.
Peter
I wrote before about some different ideas. Here is one to test yourself if you like. Not quite buyzone but...
One trade per day using EUR/JPY H1 chart. Buy or sell at the end of the fourth hour bar in the direction of that bar. If the bar is falling, then sell. If rising, then buy. Set TP at 50 pips and SL at 10 pips, and then walk away.
Peter
Last edited by mysticalchemist on Sun Nov 22, 2009 3:07 am, edited 1 time in total.
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Kenyuki,
I've noticed that on many trades where you lost, you entered too early before the BUYZONE's suggested price level. This is the pattern I have started recognized from your charts is that in many trades where you have lost tend to correlate with entering not at the price quoted by the BUYZONE Long Entry. i.e. starting early. My assumption is you're trying to get a few extra pips in there. BUT, this - isn't - following the BuyZone strategy, because what I think the ZONE does is give you an idea that if it DOES hit the zone, it will continue to move up. If it never hits the zone, there is no guarantee it ever will and if it doesn't, do not trade until it does. I think you're making the expectation (in some of the charts I've seen) that you will always hit the zone - particularly when it is getting very very close. In my playing with BuyZone I've noticed the candles get VERY close to the zone and then reverse completely. So I always WAIT until it does actually hit the price level suggested *first*. I almost always have a LIMIT order placed at the level buyzone suggests.
Also, in my (limited) experience using BUYZONE, I find that if the H1 candle opens BELOW the BuyZone, when it hits the zone it is almost guaranteed to continue it's way up.
But if the H1 candle opens ABOVE the buyzone, if it does drop and hit the zone there is no guarantee it will reverse and go back up and continue, or continue to go down. These have been my observations using the BUYZONE.
I've noticed that on many trades where you lost, you entered too early before the BUYZONE's suggested price level. This is the pattern I have started recognized from your charts is that in many trades where you have lost tend to correlate with entering not at the price quoted by the BUYZONE Long Entry. i.e. starting early. My assumption is you're trying to get a few extra pips in there. BUT, this - isn't - following the BuyZone strategy, because what I think the ZONE does is give you an idea that if it DOES hit the zone, it will continue to move up. If it never hits the zone, there is no guarantee it ever will and if it doesn't, do not trade until it does. I think you're making the expectation (in some of the charts I've seen) that you will always hit the zone - particularly when it is getting very very close. In my playing with BuyZone I've noticed the candles get VERY close to the zone and then reverse completely. So I always WAIT until it does actually hit the price level suggested *first*. I almost always have a LIMIT order placed at the level buyzone suggests.
Also, in my (limited) experience using BUYZONE, I find that if the H1 candle opens BELOW the BuyZone, when it hits the zone it is almost guaranteed to continue it's way up.
But if the H1 candle opens ABOVE the buyzone, if it does drop and hit the zone there is no guarantee it will reverse and go back up and continue, or continue to go down. These have been my observations using the BUYZONE.
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