Kenyuki
Do you have any screen shots of any of your trades you can post. It is really hard to know what is happening and to just guess. What are your inputs? Entry point from candle open? What is your take profit target? What is your stop loss? What time frame are you trading? Little details make a big difference?
Patch
In VA
BUY ZONE FOR DUMMIES INDICATOR
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thanks for your reply, Patch.
unfortunately i was busy trying to monitor the prices that i did not take the time to create a screenshot. will do it next time.
entry point: long/short signal (ask price) as per bzd indicator
t/p: as per bzb indicator (usually 60 pips on 5 digits)
s/l: as per bzb indicator (usually 70 pips on 5 digits)
i monitor the buyzone signals on M1.
basically, i just blindly follow the bzd signals as i am a dummy
hopefully i can present some screenshots tomorrow.
thanks,
Ken.
Patch wrote:Do you have any screen shots of any of your trades you can post.
unfortunately i was busy trying to monitor the prices that i did not take the time to create a screenshot. will do it next time.
Patch wrote:What are your inputs? Entry point from candle open? What is your take profit target? What is your stop loss?
entry point: long/short signal (ask price) as per bzd indicator
t/p: as per bzb indicator (usually 60 pips on 5 digits)
s/l: as per bzb indicator (usually 70 pips on 5 digits)
Patch wrote:What time frame are you trading? Little details make a big difference?
i monitor the buyzone signals on M1.
basically, i just blindly follow the bzd signals as i am a dummy
hopefully i can present some screenshots tomorrow.
thanks,
Ken.
- Patch
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Kenyuki
What does "bzb" mean? BuyZone?
What specifically is your trading plan or strategy?
Why are you using M1 vs M5 or M15 or whatever? Are you entering a trade on every M1 candle?
What is the full name of the indicator(s) (indi) you are using?
Does it matter whether you are using a 5 decimal vs a 4 decimal broker in terms of your trade results?
We are making progress.
Patch
In VA
What does "bzb" mean? BuyZone?
What specifically is your trading plan or strategy?
Why are you using M1 vs M5 or M15 or whatever? Are you entering a trade on every M1 candle?
What is the full name of the indicator(s) (indi) you are using?
Does it matter whether you are using a 5 decimal vs a 4 decimal broker in terms of your trade results?
We are making progress.
Patch
In VA
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO
hi Patch,
Yes, I'm using the buy zone for dummies indicator.
to just follow whatever the indicator says.
no i just enter one trade per hour, and use the M1 for monitoring because the candles are bigger and easier for me to see
TRO2009_BuyZone_BFD and
BetterVolume 1.4 TRO_MODIFIED_VERSION
I think so, because the spreads alone are at least 18 pips on 5 digits. (btw, I am still having troubles figuring out how to avoid the spreads on MB Trading, as it really does spoil the profits)
Thanks Patch, I am also attaching one trade example just a few mins earlier:
please tell me what i'm doing wrong.
Patch wrote:What does "bzb" mean? BuyZone?
Yes, I'm using the buy zone for dummies indicator.
Patch wrote:What specifically is your trading plan or strategy?
to just follow whatever the indicator says.
Patch wrote:Why are you using M1 vs M5 or M15 or whatever? Are you entering a trade on every M1 candle?
no i just enter one trade per hour, and use the M1 for monitoring because the candles are bigger and easier for me to see
Patch wrote:What is the full name of the indicator(s) (indi) you are using?
TRO2009_BuyZone_BFD and
BetterVolume 1.4 TRO_MODIFIED_VERSION
Patch wrote:Does it matter whether you are using a 5 decimal vs a 4 decimal broker in terms of your trade results?
I think so, because the spreads alone are at least 18 pips on 5 digits. (btw, I am still having troubles figuring out how to avoid the spreads on MB Trading, as it really does spoil the profits)
Thanks Patch, I am also attaching one trade example just a few mins earlier:
please tell me what i'm doing wrong.
- Patch
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Kenyuki
This helps me see. I really like the BZ but have not used this indi nor the volume. I take it the white dotted is the open of the current H1 candle at 1.58105 and not seen on this view. Counting from your yellow circle, long entry red candle, count back 5 candles to the green with the long wick. Is this the first entry by the entry rule? If you are getting 17 or 18 points slippage on entry, that stinks. The 5th digit is not pips, it is 10ths of pips, the place to the left of the 5th digit, is pips. Is the long entry on the first blue dotted line, and the exit, the second higher blue dotted line?
What is your brokers usual spread? Keep track of the slippage for each hour you trade. If the opening hour is bad, don't trade it. What about news releases?
You are in England. You get to trade the London open. That is too early for me so I have to settle for the others.
This is getting too long, send TRO a small contribution and get his donational package. I think you will learn a lot looking at wicks and tails using TRO2009_WICK_COUNT_UI and I also like the TRO_BuyZone_Time.
Patch
This helps me see. I really like the BZ but have not used this indi nor the volume. I take it the white dotted is the open of the current H1 candle at 1.58105 and not seen on this view. Counting from your yellow circle, long entry red candle, count back 5 candles to the green with the long wick. Is this the first entry by the entry rule? If you are getting 17 or 18 points slippage on entry, that stinks. The 5th digit is not pips, it is 10ths of pips, the place to the left of the 5th digit, is pips. Is the long entry on the first blue dotted line, and the exit, the second higher blue dotted line?
What is your brokers usual spread? Keep track of the slippage for each hour you trade. If the opening hour is bad, don't trade it. What about news releases?
You are in England. You get to trade the London open. That is too early for me so I have to settle for the others.
This is getting too long, send TRO a small contribution and get his donational package. I think you will learn a lot looking at wicks and tails using TRO2009_WICK_COUNT_UI and I also like the TRO_BuyZone_Time.
Patch
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO
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Hello Patch,
That's correct.
As far as I understood it, you enter the trade whey the long or short signal gets triggered.
The long entry is on 1.5814 (higher blue line), and the target is not displayed on the screen yet. It is usually a broken green line and is set at 1.58205 (as per the signal on indi)
I was with Alpari UK but switched to MB trading now. I don't trade news but mainly because I do not have time (but I guess I still won't even if I did have the time). I only trade part-time and after London close, so just shortly before NY close and mainly during the early Asian session.
I was actually considering this and will implement that next week.
The chart posted above already used one of his many donational indis .
Thanks Patch,
Ken.
Patch wrote:I take it the white dotted is the open of the current H1 candle at 1.58105
That's correct.
Patch wrote:Counting from your yellow circle, long entry red candle, count back 5 candles to the green with the long wick. Is this the first entry by the entry rule?
As far as I understood it, you enter the trade whey the long or short signal gets triggered.
Patch wrote:
Is the long entry on the first blue dotted line, and the exit, the second higher blue dotted line?
The long entry is on 1.5814 (higher blue line), and the target is not displayed on the screen yet. It is usually a broken green line and is set at 1.58205 (as per the signal on indi)
Patch wrote:What is your brokers usual spread? Keep track of the slippage for each hour you trade. If the opening hour is bad, don't trade it. What about news releases?
I was with Alpari UK but switched to MB trading now. I don't trade news but mainly because I do not have time (but I guess I still won't even if I did have the time). I only trade part-time and after London close, so just shortly before NY close and mainly during the early Asian session.
Patch wrote:You are in England. You get to trade the London open.
I was actually considering this and will implement that next week.
Patch wrote:This is getting too long, send TRO a small contribution and get his donational package.
The chart posted above already used one of his many donational indis .
Thanks Patch,
Ken.
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its all about timing
hopefully this will help as far as I can tell you entered around 50 minutes into the hour the actual trigger was at 12 minutes into the hour and it would have gone to target eg +5 pips. It is always the first trigger after the hour begins. Another point to consider is the times your trading this is the time of day your most likely to get stopped out cause the markets tend to be range bound with little volatility you,ll likely have better success during London Newyork. One other thing to remember is allow for pipspread in the stoploss and entry cause the charts almost always show mid price. Example if the spread is 3 typical for uk then the entry would be 1.5 pips above entry shown for midbar and if you have stop of 5 then the actual stop would only only 2 pips eg 5 -3 spread so it will stop you out after 2 pips so always add spread onto stop rather 8 pips to include spread other than that adjust parameters to suit each pair you can alter setting on TRO indicator.
On Friday 16th October GU London/Newyork there were 10 entries 9 wins 1 loser ive adjusted parameters slightly for all pairs youll be able to get the right ones for each pair by doing some backtesting. Hope this helps you in some way and may the pips be with you
On Friday 16th October GU London/Newyork there were 10 entries 9 wins 1 loser ive adjusted parameters slightly for all pairs youll be able to get the right ones for each pair by doing some backtesting. Hope this helps you in some way and may the pips be with you
Re: its all about timing
Hi scalpman1,
Thanks, will consider that next time.
Yeah, I used to trade after London close. I am now switching to early European open (06:00 - 08:00 am BST). GBPUSD rocked the BZ today @ 06:00 London time
Cheers,
Ken.
scalpman 1 wrote:It is always the first trigger after the hour begins.
Thanks, will consider that next time.
scalpman 1 wrote:Another point to consider is the times your trading this is the time of day your most likely to get stopped out cause the markets tend to be range bound with little volatility you,ll likely have better success during London Newyork.
Yeah, I used to trade after London close. I am now switching to early European open (06:00 - 08:00 am BST). GBPUSD rocked the BZ today @ 06:00 London time
Cheers,
Ken.
Ok, so I made a few tweaks with my methods:
- changed trading times from London close to Euro open (when Germany awakes)
- entered on first trigger of the hour
- switched to MB Trading. Now using MT4 for charting and MBT Navi for trade entries
Although I missed the 1st entry (was not quick enough to enter order), the 2nd one was a success, hehe
- changed trading times from London close to Euro open (when Germany awakes)
- entered on first trigger of the hour
- switched to MB Trading. Now using MT4 for charting and MBT Navi for trade entries
Although I missed the 1st entry (was not quick enough to enter order), the 2nd one was a success, hehe
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