Craigaudio's ER2 Buyzone Strategy

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eudamonia
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Postby eudamonia » Tue Feb 12, 2008 2:01 am

Can't comment of Transact, but for MB Trading you need an MBT account (not an EFX account) to pull futures data which means you need to open a futures account with MBT to use their data.

I would suggest that you look at the "MUST READ" thread here at Kreslik if you are having difficulty trading the USD/JPY BuyZone. In fact it will help you trade the ER2 better as well.

Remember that as demonstrated on this thread there is only 1 or 2 setups a day max on the ER2 (at the open) as opposed to every hour. So keep that in mind.

Edward
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Postby deeforex » Tue Feb 12, 2008 2:50 am

eudamonia wrote:I would suggest that you look at the "MUST READ" thread here at Kreslik if you are having difficulty trading the USD/JPY BuyZone. In fact it will help you trade the ER2 better as well.


Thanks Ed for you feedback. I will try to get myself a MBT futures account and try the ER2 because 2 trades a day does seem like a better way to go than every hour.

I just used the search feature for this forum and cannot locate a thread named "must read", could it be under a different name or could someone possibly post a link for it?

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eudamonia
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Postby eudamonia » Tue Feb 12, 2008 4:06 pm

Search for jjrvat in the search function and it should pop up.
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FX
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Postby FX » Wed Feb 13, 2008 2:17 am

eudamonia wrote:Can't comment of Transact, but for MB Trading you need an MBT account (not an EFX account) to pull futures data which means you need to open a futures account with MBT to use their data.

I would suggest that you look at the "MUST READ" thread here at Kreslik if you are having difficulty trading the USD/JPY BuyZone. In fact it will help you trade the ER2 better as well.

Remember that as demonstrated on this thread there is only 1 or 2 setups a day max on the ER2 (at the open) as opposed to every hour. So keep that in mind.

Edward

Good day Edward,
You and TRO are great; sharing your knowledge and experience. I appreciate it!!!
I ran a search for the "MUST READ" link, but there are over a hundred links with "MUST READ" in them. Would you post the specific link you referenced?

Also, do you use MBT to trade the ER2 as well at the Forex? Thanks

Regards, FX

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Postby eudamonia » Wed Feb 13, 2008 2:21 pm

FX,

There is a link to it at the thread "How to Become a Winning Trader - Think Like a Cheetah".

Edward
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Postby jayjay121 » Thu Feb 21, 2008 2:21 pm

hi ed, how is the er2 buyzone method going?.........im still good, and the two losses rule has really protected me and kept me in profit......im staying in on longer runs sometimes and to be honest im neally always getting my $100 everyday and when i don't im protected by the two losses rule, i do trade it a little different to you though as i use viperspeedtraders range rules for the buyzone. It seems quite reliable at keeping you out of the fake outs.

any way let me know how your doing with it.

try this link... http://www.trade2win.com/boards/first-s ... post398092

perhaps you could join the debate here as you have vast knowledge on this subject



jason

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Postby BlowFish » Thu Feb 21, 2008 4:39 pm

eudamonia wrote:I use Stop Limit entry orders, Stop Limit exit orders and Profit Target Limit orders!



Im late to this thread so forgive this question from an old post. Just out of interest what do you do if price tears through your stop limit without you getting a fill? I guess the answer is to close manually. Of course its a rarity but it cant be comfortable loosing an extra 20 ticks or so.

Personally I haven't traded ER2 for ages but this happend now and then. Incidentally some exchanges (CBOT for example) do not support Stop Limit orders natively. It is probably inadvisable to use SL's in that case as the stop will be held at the brokers until elected. In this case its far more common for price to tear through without a fill.

As you say it is impossible to test or even simulate stop limit orders. The only way is to place an order for the size you want and see if its filled. At least with limits you know if price trades through you get a fill.

If you need to get out or reverse maybe a stop/market order is safer? If price has told me we are going the other way I need to take care of it. I'd rather loose a couple of ticks slippage than find price 20 or 30 ticks away with no sign of coming back. Just saying SL's aren't a magic bullet.

Having said that I do use limits a bit too often to eek out an extra tick great when it works a slap round the head when it dosen't get filled. Personally Im wary of SL's. There is an expression "don't be a dick for a tick". hehe.

Cheers.

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Postby eudamonia » Fri Feb 22, 2008 3:15 am

Jason,

Glad to hear your doing well with it. I'm still trading it and making money. I'm really working hard on finding a methodology that I like for the USD/JPY Fx.

Yeah I use ViperTrader's methods too (not for the BZ setup though). I'll check that out!

Blowfish,

I've been using StopLimit orders for about one year (that's an average of 1.5 traders per day so you do the math). Never had a problem. Not once. Of course if I did I would simply exit at market lol. It might cost me a tick or two. 20 ticks lol. That's hilarious. I would have to be asleep at my desk for me to let the market move that far without reversing.

Also keep in mind that I use NinjaTrader for my limits (they do the math of getting me out at limit and if it doesn't get filled within less than 6 seconds it automatically converts to a market order). I end up with market order exits on my stop usually about 5% of the time. The rest is at my price.

This method has a very tight expectancy of 2 ticks per trade. So if you consider this, getting out at limit isn't only a good idea - it's crucial.

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 dcstrategies » Fri Feb 22, 2008 5:45 pm

can not find the info to get this indicator working for futures on tradestaion--joined the paltalk room and still can not figure it out--I am a trader not a brain surgeon
so how exactly do I need to set this up for es er2 or nq
also, if anyone is trading individual stocks that would be nice to pop in as well. Thanks here is what comes up when i try to insert indicator
Attachments
bzind1.gif
bzind1.gif (30.17 KiB) Viewed 575 times

dcstrategies
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Postby dcstrategies » Fri Feb 22, 2008 5:46 pm

can not find the info to get this indicator working for futures on tradestaion--joined the paltalk room and still can not figure it out--I am a trader not a brain surgeon
so how exactly do I need to set this up for es er2 or nq
also, if anyone is trading individual stocks that would be nice to pop in as well. Thanks here is what comes up when i try to insert indicator
Attachments
bzind1.gif
bzind1.gif (30.17 KiB) Viewed 575 times

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