Buy Sell Zone on FOREX

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TheOne
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Postby TheOne » Sun Apr 29, 2007 4:01 pm

Hi 4x=0,

How are you making your entries. Is it manually and what time frame are you using. TRO uses 5min and 1hour candles. TRO hope I got that right. I am trying to find the best entry method (least risk) to trade this.
When do I get out and when do I get in?
Do I wait to see a candle forming in the zone or do I enter as soon as the price crosses into the respective zones?
What would be the best time to trade this method?
Hope to get answers I require so I may begin trading this method.
Thanks.

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TheRumpledOne
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Postby TheRumpledOne » Sun Apr 29, 2007 4:45 pm

How are you making your entries. Is it manually and what time frame are you using. TRO uses 5min and 1hour candles. TRO hope I got that right.

Yes, that's correct.

I am trying to find the best entry method (least risk) to trade this.
When do I get out and when do I get in?


In at the zone and out when you make a profit. Depends on how greedy you are. For me, sometimes 1 pip, sometimes 4 or more. I just "go with the flow."



Do I wait to see a candle forming in the zone or do I enter as soon as the price crosses into the respective zones?

I enter at the beginning of the zone for equities. Forex only has a 2 pip zone, so either/or.



What would be the best time to trade this method?

Anytime price hits the zone.



Hope to get answers I require so I may begin trading this method.


Hope that helped.
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TheOne
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Postby TheOne » Sun Apr 29, 2007 11:03 pm

TheRumpledOne wrote:Do I wait to see a candle forming in the zone or do I enter as soon as the price crosses into the respective zones?

I enter at the beginning of the zone for equities. Forex only has a 2 pip zone, so either/or.



Thanks TRO,
The above answer left me wondering. Can I safely say that you place a limit order at the start of the Buy Zone and then wait for it to move into profit. If so you get out if or before it goes back to your point of entry.

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Postby TheRumpledOne » Mon Apr 30, 2007 3:07 pm

Yes, that's pretty safe to say. But remember it takes time to make money.
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4x=0
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Postby 4x=0 » Mon Apr 30, 2007 4:04 pm

>it takes time to make money

what do you mean by this?

It takes time to make consitent REAL money?

If so why?

It seems to only take a few 5 minute candles.

Surely you aren't refering to traders' psychology?


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Postby TheOne » Wed May 02, 2007 6:00 am

Hi TRO,
I hope this doesn't sound odd but are you using more than one monitor and if so how many?
I find it hard trying to trade this using one monitor as efx doesn't have integrated charting.

4x=0 where is this club you speak of.

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Postby 4x=0 » Wed May 02, 2007 1:53 pm


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Postby TheRumpledOne » Wed May 02, 2007 2:01 pm

At home I may have anywhere from 3 to 6 computers online - 1 monitor each.

But I can trade via my laptop... If I can't trade on 1 monitor then it's too complicated.
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Postby TheOne » Wed May 02, 2007 2:38 pm

Ok TRO I understand. Keep it simple right.
4x=0 thanks for the screenshot.

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Postby 4x=0 » Fri May 04, 2007 4:43 pm



When in doubt, only trade the buy zone directly after an open. I dropped my demo to about 3k now almost back up to 8. My perception of the buy zone became dilated with greed and I learned a valuable lesson. Don't be careless.


Have a great weekend

4x=0

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