Buy Sell Zone on FOREX

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Randolermo
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Postby Randolermo » Tue Jan 08, 2008 3:53 pm

BP wrote: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.

BearPaw


Bear, my broker, IBFX, has normal spreads like 2, 3, 4, or more pips. So to get one profit pip, I would have to have a gross profit of 3,4,5, etc, wouldn't I? :oops:

I'm not sure I understand your 'non-fixed spread broker" term. I'm thinking it is like EFX where the trade cost is fixed which is probably the right way to get when dealing with these small profit plays or else the spreads will kill you. :(

Let me you where I'm going wrong for I'm about to fund an account in February and using this BZ method. To be successful, it looks like it makes sense to get rid of IBFX and go to someone like EFX.

Thanks...Rando

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koolbreeze
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Test - TRO_24Hours image

Postby koolbreeze » Tue Jan 08, 2008 7:00 pm

Test - file attachment
Attachments
TRO_24Hours_USDJPY.jpg
TRO_24Hours_USDJPY.jpg (230.44 KiB) Viewed 1314 times

BP
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Postby BP » Tue Jan 08, 2008 7:56 pm

Randolermo, yes...that is the type of broker I am talking about...an ECN or for names, efxgroup would work well. Make sure to tell them that TRO sent ya. :) But I still use IBFX for the charts...I like them.

Jayjay...I havent figured out a way to filter the fakeout trades. Today we had several of them. But I just eat the losses and let the next trades get me profitable again. Good job on finishing early!! Pips are pips, and money is money!!

Koolbreeze, nice results, the TRO 24hour for the USDJPY...that is good stuff. TRO should be happy you posted it.

Results for today for me....

BuyZone = 7 trades, 2 losses, one not traded cause it happened too quickly. That was the news timing at 10am EST. 10 pips of profit though in total for my 7 trades, so I met my daily goal of 10pips.

Psycho trades(trades at 00s, 25s, 50s, and 75s) grossed me 17 pips...yeah!!

So total for today was 27 pips. Fun stuff.

later.

BearPaw
(BP)

4x=0
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Postby 4x=0 » Tue Jan 08, 2008 9:57 pm

FX wrote:
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


Good Day FX.

It was a joint effort. It took TRO to discover the BuyZone, Daniil to code it into MT4 for me, and then I simplified it and made it look like what you see there. It is also customized to my own style of trading the buyzone, which is 1 zone per international session, each valid for 24 hours.

As TRO says, Forget about what other people say, think, do, have etc... in trading and in life. Do Not waste your time concerning yourself with them.

C-Trader
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Postby C-Trader » Tue Jan 08, 2008 10:43 pm

Psycho trades(trades at 00s, 25s, 50s, and 75s) grossed me 17 pips...yeah!!


BP--
Are you just drawing horizontal lines at these whole numbers and going long if it moves above and short if it moves below?

Thanks

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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!

Please do NOT PM me with trading or coding questions, post them in a thread.

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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

jayjay121
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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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