Buy Sell Zone on FOREX

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TheRumpledOne
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Postby TheRumpledOne » Wed Jan 09, 2008 12:56 am

People keep asking for rules.

I have listed the rules many times.

The problem is the rules are TOO SIMPLE.

So, let me see if I can COMPLICATE the rules a bit.

If a price ending in 00, 25, 50 or 75 is at or between the LONG TOP and SHORT BOTTOM, trade the cross of that line instead of the BUY ZONE LINES.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Postby doragio » Wed Jan 09, 2008 2:05 am

BP wrote:Doragio,

You are right, the exit is maybe the hardest part of the buyzone. When I am in an active trade, I look at the 1 minute chart. I do it more by gut. If it hovers around a certain price for too long, I may just get out. If I think it is going against the trend, and it is not moving, I may get out. But sometimes if I believe I am with the trend, I may stay in a little longer....It is hard to quantify the exits.

So, sorry I cannot help you more. But I figured out that with my broker, a non-fixed spread broker, I still make a profit with just one pip of profit. Of course, with one gross pip, it is costing me, after the trade is done, about 40% of that pip. So, any pips after a half a pip, is pure profit for me. The point is, I know that if I at least hit one pip, I make money. Therefore I am not hesitant at all to only take one pip profit many times. A friend of mine taught me that a bird in the hand is worth two in the bush....so I figure, at least I am ahead.

Good question Doragio....and I don't have a good answer.

BearPaw


Bp,

Thanks so much for this detailed response. It was helpful in learning how you go about with the trades. So just to confirm then, your stops are always set at 6-8; and so when this hits, regardless you are out. But the targets and exits are where you look for the momentum on the 1 min charts to see possiblities and stalls? I think having at least the stop loss portion hard set removes some of the discretionary.

Best,

doragio

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TheRumpledOne
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Re: Test - TRO_24Hours image

Postby TheRumpledOne » Wed Jan 09, 2008 4:08 am

koolbreeze wrote:Test - file attachment


Need you to change the symbol to the eminis and post in that thread.

Thanks
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 » Wed Jan 09, 2008 10:44 am

C-Trader, in real basic terms...yes, that is basically what I do. But I am also looking at the big picture, looking at momentum and price action.

Doragio, that is it. The only way you will master it is by practicing on your own. But that is basically it.

Thanks TRO!!

I've already made a buyzone trade, +5, and a Psycho Trade, +3 (at the 50s) during this hour(5am EST). This is great.

Till another posting... :)

BearPaw

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Postby jayjay121 » Wed Jan 09, 2008 3:07 pm

72% profitable today on the er2.............$340 done already..........................can't keeping winning like this everyday can i?




jason

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cjackson
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Postby cjackson » Wed Jan 09, 2008 4:39 pm

jason youll get used to it!

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Postby BP » Wed Jan 09, 2008 5:11 pm

JayJay...great!!

Its beautiful...I love it...After about a month more of this, I won't need to run my business...I can just do this...

Its awesome, and it really is true.

BearPaw

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Postby cjackson » Wed Jan 09, 2008 7:08 pm

im in the same boat bearpaw although im not running my own business... :)

jayjay121
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Postby jayjay121 » Wed Jan 09, 2008 7:33 pm

ive always been told and taught that momentum trading does not work and the reason being is that the professionals are normally taking the opposite side to you...........this is why im so confused lately and why my comments might be a little negitive, as for the last month or so i just keep winning. In fact i want a few losing days to see how i handle it, to see if i can realistically continue with this system.

ill keep you posted with my results


jason

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Getting started

Postby FX » Thu Jan 10, 2008 12:42 am

jayjay121 wrote:72% profitable today on the er2.............$340 done already..........................can't keeping winning like this everyday can i?

jason


Good day JayJay,
Good to hear of your success with the BZ. I am trying to setup my charts, but there are so many updates to the indicators. Which ones do you us? Are you only trading one pair and are you at it all day?

I appreciate you input.

Regards, FX
P.S. I hope you keep winning! It adds credibility to the system.

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