Buy Sell Zone on FOREX

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Ali Son
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Postby Ali Son » Fri May 04, 2007 5:09 pm

4x=0, who do you trade with these days?

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TheRumpledOne
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Postby TheRumpledOne » Fri May 04, 2007 6:04 pm

That's an EFX demo account in the screenshots.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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pineapples
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Postby pineapples » Fri May 04, 2007 9:13 pm

4x=0 wrote:Thanks a millino TRO !



Looks like a long trade was triggered within the first 5 minutes of today's open.

Am i interpreting the buy signal correctly?

TRO what is the point of having +.0003 AND .0004?


Going back to this post (the first diagram of this entire thread and the third post).
What would have stopped you from entering at one of the two short signals and getting stopped/taking a loss on the short trade?
And if you had have done that, how would you have recovered? Reverse your position when the long signal hits?
Isn't this very scenario common at openings?
I know i'm new here so sorry for wading in but getting down to business is essential.....

thanks

p.

4x=0
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Postby 4x=0 » Sat May 05, 2007 3:41 pm

Pineapples,

Let's get down to business. There was only 1 short to take after the open.

Where in Belgium do you live?

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TheRumpledOne
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Postby TheRumpledOne » Sat May 05, 2007 3:57 pm

pineapples wrote:
4x=0 wrote:Thanks a millino TRO !



Looks like a long trade was triggered within the first 5 minutes of today's open.

Am i interpreting the buy signal correctly?

TRO what is the point of having +.0003 AND .0004?


Going back to this post (the first diagram of this entire thread and the third post).
What would have stopped you from entering at one of the two short signals and getting stopped/taking a loss on the short trade?
And if you had have done that, how would you have recovered? Reverse your position when the long signal hits?
Isn't this very scenario common at openings?
I know i'm new here so sorry for wading in but getting down to business is essential.....

thanks

p.


If you were using one of my dynamic support/resistance indicators, most likely you would see the price was pushing dynamic support and you wouldn't trade against that.

4x=0, would you please add dynamic s/r to your charts? Thanks.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby 4x=0 » Sat May 05, 2007 4:28 pm

sure tro.




But the real question is this: Tradestation, esignal or tickquest?

(as a necessary to using your indicators)

im signing up with fxintellecharts for synchrinocity. I think it is more important than exploiting the difference in two datafeeds. when the opening price is different between your broker and your charts, sometimes you are getting in early, or buying a false signal. Plus if you understand what support and resistance are, you don't exactly need the dots.

Intellicharts supports custom indicator coding. That's good news.

Last edited by 4x=0 on Sat May 05, 2007 6:49 pm, edited 1 time in total.

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TheRumpledOne
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Postby TheRumpledOne » Sat May 05, 2007 6:47 pm

Thanks 4x=0.

As I expected, the sellers were pushing against price support and the buyers decided to push back.

The "trick" is to make sure there is a "clear" path to your profit target. That increases your odds of a profitable trade.

The dynamic sr dots are just a helpful visual especially if you are looking at multiple intervals during the heat of battle (trading).

But I agree, if you "know" how to read a chart, you can just "see" the support/resistance.
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TheRumpledOne
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Postby TheRumpledOne » Sat May 05, 2007 6:55 pm

"
im signing up with fxintellecharts for synchrinocity. I think it is more important than exploiting the difference in two datafeeds. when the opening price is different between your broker and your charts, sometimes you are getting in early, or buying a false signal. Plus if you understand what support and resistance are, you don't exactly need the dots. "

For the major pairs, the price difference between feeds isn't that big of a deal, to me.

The BuyZone just simple works. In fact, you can throw a dart, center the BuyZone where the dart hit and make money. You have STATISTICS in your favor.

Using the daily open(s) just gives one an added "edge".
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby 4x=0 » Sat May 05, 2007 7:07 pm

don't scare me tro, that sounds CRAZY

once somebody is a major player as you are, i suppose they can get to throwing darts and using unsycronized data feeds with their high leverage trades.

i have to admit, i would like to start using dynamically generated support and res lines or dots. I think it might be possible with intellecharts. I would also like to have the zones generated as well - i'm tired of doing it myself :) It's been a rough week and exams are ALMOST finished .

the zones look promising if "you" (i) can get a few things sorted:

- dont trade randomly; use the opens
- consider short term s/r
- sync your charts if you're a noob
- build experience and practice taking small objective losses

I have a hunch that the best traders are the one that have nothing to lose

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Postby TheRumpledOne » Sat May 05, 2007 8:00 pm

At the moment, I'm no "major player".

To me, unless you are trading at least $100 million, you're still a small fry.
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