Buy Sell Zone on FOREX

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4x=0
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Postby 4x=0 » Thu Apr 26, 2007 7:55 am

Tomorrow will be the last day of P/L updates.



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eudamonia
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Postby eudamonia » Thu Apr 26, 2007 3:39 pm

I'm glad that you are making money, but I'm still unsure what this has to do with the BuyZone. Are you attempting to prove that it works, that it doesn't or something else entirely? Not sure.

Congratulations on your gains.

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.

Ali Son
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Postby Ali Son » Thu Apr 26, 2007 5:53 pm

4x=0,

I like those P/L updates of yours. Keep it up.

More importantly, how are you using the BuyZones (if I understand you clearly) to trade? What time interval on the GBPUSD were those gains generated.

Keep up the P/L postings. WE NEED MORE PEOPLE TO DO THIS TYPE OF THING ON THESE FORUMS...IT'S THE KIND OF THING TRO USED TO DO OVER ON THE TS FORUMS--HARD TO SAY IT DOESN'T WORK WHEN YOU HAVE WEEKS/MONTHS ON END OF POSITIVE P/L !!! [:)]

4x=0
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Postby 4x=0 » Thu Apr 26, 2007 7:00 pm

eudamonia wrote:I'm glad that you are making money, but I'm still unsure what this has to do with the BuyZone. Are you attempting to prove that it works, that it doesn't or something else entirely? Not sure.

Congratulations on your gains.

Edward


Unsure of what this has to do with the BuyZone Edward?? It's the fruit of the Buy Zone!!! It shows that with only a few high leveraged trades you can make you and your broker fairly rich! Consistently. Every day perhaps.

I appreciate your congradulations, and am curious about your persistant confusion about the P/L reports. I want to again make sure that you know I am DEMOing the BuyZones. I'm not crazy enough to trade 100 lots on a system I don't fully understand yet. That would be crazy. In a couple weeks I may start with a nominal position size. Just depends on the integrety of the system -- that is, what i can do with it. Things are looking good. Again, I appreciate your interest in my progress, and I respect that you are already a more experienced and more profitable BuyZone trader than I. It's easy to trade max buying power on a 10k demo account, because like I have said, the only pertinent factors are fear and greed, which are greatly reduced on demo.

Stay Tuned for todays Buy Zone P/L postings...

4x=0
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Postby 4x=0 » Thu Apr 26, 2007 7:14 pm

Ali Son,

Thanks for the encouragement. 1 person likes the reports, one person does not. I think I will continue the reports in my private club after today's posting. Unless I hear that others get something out of my P/L and would like me to continue publicly. After the system becomes routine, I will likely feel less inclined to share the P/L all the time. It's just new and exciting for now. Gald you're interested.

Over the last couple weeks I've been using the 5 minute candles. I've been scanning jpy, gbp, aussie and euro. When trading with max buying power, the aussie gives you the best results, the buying power is 3x that of the gpb. And I think the commissions are about 1/2 as much.

I have been absent for most if not all of the london opens, because i need sleep for school - so i've been trading the sydney and tokyo.

You're right. It's hard to say taht the buy zones do not work if i'm posting consistent profits, but what If I have made tons of losses and have not posted them? Is that imoral? I let a position go 20 pips against me a couple days ago = -$3000 about. Yesterday I practiced taking losses at -4 and -5. The more I see the trades work, the easier it is to cut off the ones that hesitate too long. I did have that huge loss because I deviated from the system (actually, cooked dinner as i was losing tons of cash). That won't happen again.

I didn't want to post the huge loss because It didn't truely reflect the correct trading of the Buy Zone. That's the point of the P/L reports. Notice I'm not posting my balance. Just the profit potential of following the system.

Today I'll post my results no matter what the outcome because I will be following the rules. That's what needs to be shown. The times the system is played correctly.

Weeks/Months on end of Positive P/L... we'll see ;)

edit: i feel a bit like a chump posting my short experience with the buy zones as if i know what i'm doing. TRO and even edward have been trading the system live and know more about it than i do. I dont know s**t.

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Postby rosenskier » Thu Apr 26, 2007 7:47 pm

"the point is that the buyzone, as simple as it is- is still not a black box and cannot be automated successfully. "

You have MISSED THE POINT!!

The Buy Zone can be automated successfully. I already did it on TradeStation. Michal has the NeoTicker code almost complete. ( I have thrown him a couple of curves and that's why it's not finished - the original is working ). And NO, we will NOT give away Automated Code because if something goes wrong, you can lose your (_*_)

The Buy Zone is a STATISCALLY BASED TRADE. It is NOT technical and it is NOT fundamental. You are the casino and the Buy Zone is your table.
Once the price is in between the zones, it has NO CHOICE but to break out of one zone or the other.

You max loss on a trade should be 7 pips. How much you take is up to you. All you have to do is put your Profit Target and Stop Loss into the money management spreadsheet and it will tell you the expected profit/loss.

The Buy Zone is TOO SIMPLE for most traders because they want to IMPROVE IT. There is NO NEED to improve it - and let's not debate about it. Let's keep it simple.

Also, 4x=0, posting your results in the PRIVATE SECTION is not what the private section is for.

Instead of posting your P/L, post the transactions so all may see at what time you entered/exited - that's what would be of most benefit.

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eudamonia
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Postby eudamonia » Thu Apr 26, 2007 8:59 pm

4x=0,

Thanks for the clarifications. I wasn't sure what pair(s) you were trading. If it was 1 pair that is impressive indeed.

Although I've been successful trading small lot sizes on the Russell I haven't had as much luck with the Forex (reading the tape on the FX is very different than Russell). It's one thing to trade successfully with a couple of lots but trading with extreme leverage on a live account the way you are on a demo account would give me a heart attack :)

Anyway I second the idea of continuing to post your PL. Thanks.

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 TheRumpledOne » Fri Apr 27, 2007 12:36 am

Actually, the way to trade the Buy Zone is with more lots rather than less.

100 mini lots times 4 net pips, is $400!!

Do that once a day and you are making $100k a year!

Of course, I suggest you start out trading ONE mini lot and compound your gains... soon enough, you'll be trading 100 minis!!
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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Postby jeffx » Fri Apr 27, 2007 3:44 am

TRO, how does someone reconcile the price on Tradestation charting vs. the price on EFX, which can vary anywhere from 0 - 4+ pips, the latter in a fast moving market.

If you're targeting 4 pips on buyzone entry, and TS chart price hits the entry price, but EFX is already 2+ pips into it? You can't tell if EFX will actually go an additional 4 pips, to equal TS chart zone profit target, even if TS price does hit it.

charting/broker price mismatches is a problem when you're working with such small scalps

TIA

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Postby TheRumpledOne » Fri Apr 27, 2007 4:09 am

No problem for me Jeffx!

If anything, it's an advantage... many times the TS moves BEFORE EFX so I know which way it's going.

It doesn't matter if I buy a pip or 2 early.

If EFX hits the zone, then you should take the trade.

Remember, FOREX is NOT a centralized market. That's why there is a price difference. And if you learn to "read" the market, you can use the fact that the difference is TOO BIG or TOO SMALL to your advantage.

So instead of seeing "problems", look for ways to EXPLOIT the difference.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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