BUY ZONE FOR DUMMIES INDICATOR

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rowdy
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Postby rowdy » Sat Mar 28, 2009 12:15 am

Ok, everyone here gets one stupid question. I am going out on a limb and burn mine now.

I noticed that using BZFD has a bias toward long trades vs short since you buy at the ask and sell at the bid. The bias being the value of the spread.
If the spread is 2 pips then using the default settings you are just a 2 pip rise in the ask from entering a long trade but 4 pips from a lowering of the bid for a short trade at the opening of the hour.

Am I missing something? Is this a problem? Should I raise the buy zone up a couple of pips to create an equal balance? Should I give up trading altogether? Should I take enough Viagra, Levitra and Cealis so that I am no longer interesting in trading? What?

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TheRumpledOne
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Postby TheRumpledOne » Sat Mar 28, 2009 2:07 am

The charts show the bid price. You buy at the ask or you can put in a limit order specifying the price you want to pay.
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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rowdy
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Postby rowdy » Sat Mar 28, 2009 11:24 am

TheRumpledOne wrote:The charts show the bid price. You buy at the ask or you can put in a limit order specifying the price you want to pay.


Avery,
Thank you for your reply and all of your effort on the new indicators.

TheRumpledOne wrote:The charts show the bid price.

I am well aware of this.

TheRumpledOne wrote:You buy at the ask

I also understand this as per my original post.

TheRumpledOne wrote:or you can put in a limit order specifying the price you want to pay.

Now here is the major disconnect. My understanding was that the way the Buy Zone for Dummies Works is that if the price starts at the opening price and moves up to the Blue Line you enter a Buy Order. If the price starts at the opening price and moves down to the Red line, you enter a
Sell order. If my assumptions are correct, then Buy Order is a BUY STOP and the Sell Order is a SELL STOP. The Buy Zone for Dummies automatically calculates the T/P and S/L for both of the Long and Short. Those values have to based on BUY STOPS and SELL STOPS do they not?
A Buy LIMIT order is a pending order to buy assets for a security at a price LOWER than the current one. This would mean placing an order to Buy BELOW THE RED LINE. A Sell LIMIT order is a pending order to sell assets for a security at a price HIGHER than the current one. This would mean placing an order to Sell ABOVE THE BLUE LINE. This is the opposite of my understanding as to how the Buy Zone for Dummies works. Is this some kind of major trade secret amoung great traders? If not, please EXPLAIN IN GREAT DETAIL as to how you would use LIMIT orders using the Buy Zone for Dummies. This disconnect has been haunting me now for a long time. Either I dont understand how the Buy Zone for Dummies works, or I am missing out on some trading concept that is a door to moving to the next level.

I realize that you cannot give us everything. I am willing to work as hard as necessary to become a good trader.

If you dont want to post your answer in this forum, then please feel free to PM me.

Again, I thank you very much for all of the hard work on the indicators.

jenks09
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Postby jenks09 » Sun Mar 29, 2009 3:13 pm

Hey TRO,

You're doing great work. PM & donation for you.


Cheers,
Jenks09.

ryanv408
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Postby ryanv408 » Mon Mar 30, 2009 12:04 am

TheRumpledOne wrote:Time frame doesn't matter. Just follow the trend/price action at the trigger lines.


Master Tro,
I understand that the free version of BuyZone doesn't monitor trend for you, but does the Dummies Version take care of that for us dummies? Or should I visually filter trades based on trend/price action just like the free version?

Thanks

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incomesolution
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No Donational Indicators received?

Postby incomesolution » Mon Mar 30, 2009 6:47 pm

TheRumpledOne wrote:If you like, you can make a donation in my PayPal account:

therumpledone AT gmail DOT com

Donations have ranged from $50 to $1,000


Thank you for your support.

- Avery aka TheRumpledOne



Hi Avery,
Thanks so much...

I made my donation to you on Saturday. How long before I receive the donational indicators? Will they be emailed to me?

Al

gilcoms
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Is there a Buy Zone reset ???

Postby gilcoms » Mon Mar 30, 2009 8:12 pm

Please look at my chart . Am I supposed to rest the buy zone lines somehow somewhere .

Image

gilcoms
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Postby gilcoms » Mon Mar 30, 2009 11:17 pm

I am sorry in the above post I meant RESET not rest !

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Postby stifland1 » Wed Apr 01, 2009 9:30 pm

I had a question here. AT 00:00 hour, we had a sell. I entered short, it reversed and said Long. Should we reverse or is this a once an hour trade? Also how are the 3 pip spread accountrd for? I can only see I have to use a market because otherwise the mt4 doesb't take orders because it is too close.
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winny
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Postby winny » Wed Apr 01, 2009 10:02 pm

stifland1 wrote:I had a question here. AT 00:00 hour, we had a sell. I entered short, it reversed and said Long. Should we reverse or is this a once an hour trade? Also how are the 3 pip spread accountrd for? I can only see I have to use a market because otherwise the mt4 doesb't take orders because it is too close.


In my opinion this system can be used several ways. Please, if you do not want to burn your fingers, then trade the buyzone during the London open. And forget the rest of the day.
But if you want to persist and like to trade all day long then I guess you could have reversed here. What you should do is use the blue lines and red lines as your trigger, but...........it must be accompanied by some other fast trend mechanism/indicator/strategie/system (whatever you want to call it). Only take longs above the buyzone, only take shorts below the sellzone.
Use the trend as your guide for riding the trend. This is also your trailing stop. Practice, you will do fine eventually.

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