Avery,
Any chance you can post a link to some of your favorites? We could all use a refresher on learning to read level II. Thanks!
Edward
Buy Sell Zone on FOREX
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- TheRumpledOne
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http://www.traderspress.org/bargain/barrel.asp
Is one place where you can find trading books for $.99
Is one place where you can find trading books for $.99
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.
Please do NOT PM me with trading or coding questions, post them in a thread.
I'm starting to think that once price blows through your target, a bounce off the return touch of the TP level is a nice play. Atleast for net 2 or 3 on the Aussie (1 pip covers commission + you get twice the buying power than the GBP) Of course I could never recommend that anybody trade this way.
[schild=4 fontcolor=000000 shadowcolor=C0C0C0 shieldshadow=1]Think Like a Banker[/schild]
[schild=4 fontcolor=000000 shadowcolor=C0C0C0 shieldshadow=1]Think Like a Banker[/schild]
- TheRumpledOne
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Edward:
Here's another site with trading books at bargain prices:
http://www.prophet.net/learn/loadbook.j ... sion=books
Here's another site with trading books at bargain prices:
http://www.prophet.net/learn/loadbook.j ... sion=books
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.
Please do NOT PM me with trading or coding questions, post them in a thread.
- TheRumpledOne
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4x=0 wrote:I'm starting to think that once price blows through your target, a bounce off the return touch of the TP level is a nice play. Atleast for net 2 or 3 on the Aussie (1 pip covers commission + you get twice the buying power than the GBP) Of course I could never recommend that anybody trade this way.
[schild=4 fontcolor=000000 shadowcolor=C0C0C0 shieldshadow=1]Think Like a Banker[/schild]
4x=0:
The BuyZone is a STATISTICALLY calculated trade. If you take every trade, the WORSE you'll do is around 63% BASED ON STATISTICS - no thinking!!
Thinking will ONLY make you poor when trading.
As AirBall mentioned in one of his posts, the hardest thing about the BuyZone is NOT TRYING TO IMPROVE IT. You really have to squelch the ego driven need to tinker with it because if you don't, you'll wind up losing when you should be winning.
The BuyZone is SIMPLE. And because it is SIMPLE, IT WORKS!! The price has NO CHOICE but to cross one zone, the other or both. And when it does, you just enter the trade and take what you can. You can't get much simpler than that.
[schild=4 fontcolor=000000 shadowcolor=C0C0C0 shieldshadow=1]Quit thinking and just trade the BuyZone![/schild]
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
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[schild=6 fontcolor=000000 shadowcolor=C0C0C0 shieldshadow=1]If you traded every buyzone trade you would be an absolute zombie[/schild]
I know, i think about what airball said quite often. It is tempting to ADD ON to the buy zone stratagy because I'm sure the power of opening price can be used in more than one way, but for now i will listen to the warning.
But i do think it is impractical to compare statistical results to the realistic ability of a discretionary human. Did the statistics take into account the use of dynamic S/R ?? I DON'T THINK SOOOOO
Plus, if you miss only ONE zone trade then you can no longer rely on stats. Not that you need them
I know, i think about what airball said quite often. It is tempting to ADD ON to the buy zone stratagy because I'm sure the power of opening price can be used in more than one way, but for now i will listen to the warning.
But i do think it is impractical to compare statistical results to the realistic ability of a discretionary human. Did the statistics take into account the use of dynamic S/R ?? I DON'T THINK SOOOOO
Plus, if you miss only ONE zone trade then you can no longer rely on stats. Not that you need them
- TheRumpledOne
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"Did the statistics take into account the use of dynamic S/R ?? I DON'T THINK SOOOOO"
NO. The stats were just on PRICE MOVEMENT.
The DynamicSR gives you an added "edge".
And it doesn't matter if you miss a trade or 2, that doesn't effect the probability of the next trade you enter. The probability of a win on your next trade is 63% or better!
And you would be a PROFITABLE ZOMBIE...LOL!!
NO. The stats were just on PRICE MOVEMENT.
The DynamicSR gives you an added "edge".
And it doesn't matter if you miss a trade or 2, that doesn't effect the probability of the next trade you enter. The probability of a win on your next trade is 63% or better!
And you would be a PROFITABLE ZOMBIE...LOL!!
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.
Please do NOT PM me with trading or coding questions, post them in a thread.
- TheRumpledOne
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The win percentage is NOT as important as the overall profitability.
By keeping it simple, you make a steady profit. That's the point.
Skill implies "out guessing" the BUYZONE.
Even using the Dynamic SR is outguessing the system. However, the Dynamic SR has proven itself a winner in its own right. The combo of the two is deadly accurate.
You can see the results in the charts posted by Ed and AirBall. That means so much more than the charts I post. That proves it is the BUYZONE that generates the profits and not me. Which means YOU can generate profits, too, using the BUYZONE.
By keeping it simple, you make a steady profit. That's the point.
Skill implies "out guessing" the BUYZONE.
Even using the Dynamic SR is outguessing the system. However, the Dynamic SR has proven itself a winner in its own right. The combo of the two is deadly accurate.
You can see the results in the charts posted by Ed and AirBall. That means so much more than the charts I post. That proves it is the BUYZONE that generates the profits and not me. Which means YOU can generate profits, too, using the BUYZONE.
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.
Please do NOT PM me with trading or coding questions, post them in a thread.
TheRumpledOne wrote:
Skill implies "out guessing" the BUYZONE.
If you can outguess buyzone with dsr, then it is true that discretion can increase profitability. I wouldn't take a buyzone into an MA either..
Simple, yes. But many very complex things are simple. These buyzones may not be complex to you or i, but to many it would be suicide. The psychologically nimble will have a much better chance at making it work for them. I wouldn't recommend this method to just anyone, no way! Sure, i will make it work, but I am not like everyone, and many people would lose their ass and more trying to pull it off.
Which is why you can post this method and others on places like 4xFactory as you have done, and you will probably have more people busting out than making it work.
For example I could show a friend or family member how the system works, but I would be scared s%%%less, after i was gone and they were trying to trade it alone. I would feel responsible if they lost their ass too.
It is simple and powerful to the psychologically acute, but I wouldn't expect it to work for many people as well. It takes trust, belief, skill, speed...
It takes balls! (i know there are some women on the forum who could also make it work)
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