Buy Sell Zone on FOREX

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4x=0
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Postby 4x=0 » Sat May 05, 2007 8:29 pm

well then i'm a raw potato

edited for profanity
Last edited by 4x=0 on Sat May 05, 2007 11:33 pm, edited 1 time in total.

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TheOne
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Postby TheOne » Sat May 05, 2007 9:34 pm

Hi 4x=0, what timeframe do you use. I think I see the one minute in your post. Do you refer to other time frames.
TRO may I ask what is the one hour candle used for with this strategy. Is it for trend direction and are you using the five minute candles for resistance.

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pineapples
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Postby pineapples » Sat May 05, 2007 11:00 pm

Thanks chaps that satisfies my query. I see where the 'edge' lies with this method.
Hey TRO, as well as throwing a dart, couldn't the buy zone be used at ANY candle opening of any time frame; the 'edge' being maintained by use of indicators/market savvy/trading in direction of trend etc?
I get the feeling this really is like owning a casino table....I can hardly wait for Monday morning.

4x=0, the capital, Brussels.

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TheRumpledOne
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Postby TheRumpledOne » Sun May 06, 2007 3:25 am

TheOne wrote:Hi 4x=0, what timeframe do you use. I think I see the one minute in your post. Do you refer to other time frames.
TRO may I ask what is the one hour candle used for with this strategy. Is it for trend direction and are you using the five minute candles for resistance.


I just find it to be profitable to be trading in the direction of both the 5 and 60 minute candles.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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TheRumpledOne
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Postby TheRumpledOne » Sun May 06, 2007 3:27 am

pineapples wrote:Thanks chaps that satisfies my query. I see where the 'edge' lies with this method.
Hey TRO, as well as throwing a dart, couldn't the buy zone be used at ANY candle opening of any time frame; the 'edge' being maintained by use of indicators/market savvy/trading in direction of trend etc?
I get the feeling this really is like owning a casino table....I can hardly wait for Monday morning.

4x=0, the capital, Brussels.


I wouldn't go lower than 60 minute candles.

I use 3 buy zones: London open, New York open and Sydney open.

Those give me more than enough trading opportunities.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby TheOne » Sun May 06, 2007 4:59 am

Thanks for clearing that up TRO.

4x=0
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Postby 4x=0 » Sun May 06, 2007 9:27 pm

"I just find it to be profitable to be trading in the direction of both the 5 and 60 minute candles."


Hmm, that's interesting. It almost seems to be a moot point, as any buy signal will always be in the direction of the 60 minute candle, and so should any sell signal.

ahah! i suppose that is only true for the first hour of the open..

nice!!

so we got the 60 minute condition.

the dynamic s/r...

and some other stuff...

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Postby TheOne » Tue May 08, 2007 11:33 pm

In a earlier post it was mentioned that Level II be used for entries. Is it necessary for trading this strategy?
TRO wouldn't a limit order be most effective in this case?

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TheRumpledOne
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Postby TheRumpledOne » Wed May 09, 2007 1:15 am

Level II is NOT necessary.

I always use limit orders.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby TheOne » Wed May 09, 2007 2:12 am

TheRumpledOne wrote:Level II is NOT necessary.

I always use limit orders.


Thanks.

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