Buy Sell Zone on FOREX

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BP
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Postby BP » Fri Jan 04, 2008 10:30 am

Well TRO has been urging me to post my results, so here I am starting to do that. This New Year's week has been surprisingly profitable.

Monday, 12/31/07 - 8 trades, 6 profitable, +24 pips
Tuesday, 1/1/08 - no trades
Wednesday, 1/2/08 - 8 trades, 2 profitable, 0 pips
Thursday, 1/3/08 - 8 trades, 6 profitable, +20 pips

So, for this sporadic week so far, +44 gross pips.
I will update todays results after today is over.

BP

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Gert Frobe
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Postby Gert Frobe » Fri Jan 04, 2008 10:18 pm

hey BP, thanks. you being in the paltalk room has helped me to stay more on point w/ my trading the zone. im happy it was a good week for you.

airball

jayjay121
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Postby jayjay121 » Sat Jan 05, 2008 4:13 pm

i like this buyzone, the only thing i would say about it though would be could there be a way to reduce the overall risk?..............as the buyzone clearly works in the long run could we perhaps trade many instruments at the same time using it with radarscreen scanning for set-ups, i mean this would reduce risk right?, as we are taking buyzones set-ups more frequently this way so reducing overall risk...........i know tro only likes to trade one instrument at a time but ive done this on the er2 and although profitable overall, you do get whip saw days and i know we need to accept these days just as a casino accepts these days, but if you have a winning formula why not trade it as often and as much as possible. I was thinking perhaps it would not work because many set-ups will just be the same as many instruments lead and follow others.

any thoughts??


jason

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TheRumpledOne
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Postby TheRumpledOne » Sat Jan 05, 2008 7:41 pm

Jason:

Please, KEEP IT SIMPLE!
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.

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Gert Frobe
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Postby Gert Frobe » Sat Jan 05, 2008 10:10 pm

Jason, the BZ dose not play well w/ other indicators. if you use it S and R and the price breaks through the sprt. or the ris. if you use it w/ mo crosses than it will predict the fail of the cross or show that its holding. iv tried for a long time to find a indicator that would predict the the direction of the BZ havent found it and i stopped looking. i just trust the BZ and trade the direction, it wins about 4 in 5 good enuff to make a very good living trading.

airball
Last edited by Gert Frobe on Sat Jan 05, 2008 11:34 pm, edited 2 times in total.

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TheRumpledOne
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Postby TheRumpledOne » Sat Jan 05, 2008 10:59 pm

The BuyZone is simple yet elegant, IMHO...LOL!

By taking the trades, you have statistics in your favor.

If you set your SL at 7 pips and take profit at 12 or more, (assuming you use EFX Group as your broker), your winners will outnumber your losers AND your avg win will exceed your avg loss.

The USDJPY has an average hourly range of 24 pips.

If you assume one loss and one win per hour, SL 7 and TP 12 then you can have a Gross Profit (GP) of (12 - 2) - (7 + 2) = 10 - 9 or 1 pip per hour. The -2 is the commission and actually it is less than 2, so I rounded up.

I know, 1 pip does not sound like much but that's a 1% return on your money PER HOUR!

Plus this assumes, your first trade is a loss. And that's not always the case.

Now I know all the backtesters will say, what if you get whipsawed two or more times. But that just doesn't seem to happen to me in live trading and I trade it just about everyday.

See the problem with most backtesters is they are so quick to find a way that is doesn't work instead of looking for ONE way it does work.
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.

BP
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Postby BP » Sat Jan 05, 2008 11:16 pm

Well Fridays results were 25 pips on the BuyZone with the Yen. Yes it was fun having you on Patltalk Gert Frobe....lol...airball. :)

Anyway, I don't know much more than how to follow the system jayjay, so afraid I can't help you there.

So, for this week, 69 pips...good week considering that we did not trade on New Year's! :)

BearPaw
BP

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TheRumpledOne
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Postby TheRumpledOne » Sun Jan 06, 2008 12:26 am

BP:

Do you realize, that if you are going ALL IN, then you are on your way to a TRILLION DOLLARS?
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.

FX
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Postby FX » Sun Jan 06, 2008 6:54 am

4x=0 wrote:
jimbil wrote:Hi

what exactly are these rules again?

Thanks.


when your p&l is -7 GET OUT

This is from last night; profit taking is up to you, I say they were both worth at least 30.



Good day 4X=0,

what indicator did you use to generate the zones on this chart?

regards, FX

jayjay121
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Postby jayjay121 » Sun Jan 06, 2008 8:48 am

thanks for your replies,


ill keep it simple,



jason

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