DAILY WICK ZONE TRADING

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RicG
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Postby RicG » Fri May 23, 2014 10:53 pm

johnsund wrote:Avery -

The Daily Wick Zone is without doubt the most profitable and easy-to-use trading method you have ever developed. I thought the Buy Zone and Rat Zone methods were the best there ever could be, but you have taken those to a new level. Congratulations and thank you.


Very Cool johnsund!

Glad to hear you're doing great with this methodology. Please share your manually backtested results over what time period,what pairs, W/L %, Risk/Reward Ratio, Rules, etc. with all of us so we can all benefit as well!

Thanks,
Ric
(Disclaimer - This post is for educational purposes only. Always consult a licensed investment professional before taking any trade. Any trade you take is at your own risk.)

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Postby johnsund » Fri May 23, 2014 11:33 pm

RicG - as I have learned from painful experience, it is best to follow TRO's rules. He has spent hours upon hours developing the trading methods he shares with us. I watch the H1 charts only, and use his TRO2014_MP_HTBL indicator with Training Wheels turned on. If I get either a green or red indication that a pair is inside the Lo or Hi zone, and all time frames are the same color, I open that chart. I take a look to see what the recent history looks like, and place a buy stop or sell stop order with a stop loss at the spot + a couple of pips that the TRO2014_HTBL_ZONE says to. The only other thing I check is where price is in relation to an average daily range indicator that I have on the charts. If price has already put in close to its ADR then I pass. So, more or less this is an "automatic" trade, in accordance with TRO's "rules" for the Daily Wick Zone trade. I have been using this for the past 3 weeks, and my account is up about 17%. With the TRO_MP_HTBL indicator I have 24 pairs showing. I have not calculated W/L percentage but it has to be something like 65%+. In terms of TP, because I use the lot size calculator that is part of HTBL_ZONE I only look for 15 - 20 pips per trade unless the range that has been put in is very small compared to ADR, then I look for more, 20 - 30 pips. Hope this helps. If you have not tried it, I encourage you to try the Daily Wick Zone.

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Postby RicG » Sat May 24, 2014 1:44 am

johnsund wrote:RicG - as I have learned from painful experience, it is best to follow TRO's rules. He has spent hours upon hours developing the trading methods he shares with us. I watch the H1 charts only, and use his TRO2014_MP_HTBL indicator with Training Wheels turned on. If I get either a green or red indication that a pair is inside the Lo or Hi zone, and all time frames are the same color, I open that chart. I take a look to see what the recent history looks like, and place a buy stop or sell stop order with a stop loss at the spot + a couple of pips that the TRO2014_HTBL_ZONE says to. The only other thing I check is where price is in relation to an average daily range indicator that I have on the charts. If price has already put in close to its ADR then I pass. So, more or less this is an "automatic" trade, in accordance with TRO's "rules" for the Daily Wick Zone trade. I have been using this for the past 3 weeks, and my account is up about 17%. With the TRO_MP_HTBL indicator I have 24 pairs showing. I have not calculated W/L percentage but it has to be something like 65%+. In terms of TP, because I use the lot size calculator that is part of HTBL_ZONE I only look for 15 - 20 pips per trade unless the range that has been put in is very small compared to ADR, then I look for more, 20 - 30 pips. Hope this helps. If you have not tried it, I encourage you to try the Daily Wick Zone.


johnsund,

Thanks for your response. Congrats! Glad you're up 17%.

I'd personally have to have manually backtested statistically significant data in a specific market/s, filtering for trending vs range-bound price action with optimized TP/SL (R/R) in order to start trading it. And I just don't have the time to do that right now.

I do wish you the best. Please keep us informed how it works for you in the long run.

Kind regards,
Ric
(Disclaimer - This post is for educational purposes only. Always consult a licensed investment professional before taking any trade. Any trade you take is at your own risk.)

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TheRumpledOne
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Postby TheRumpledOne » Sat May 24, 2014 8:16 pm

johnsund wrote:Avery -

The Daily Wick Zone is without doubt the most profitable and easy-to-use trading method you have ever developed. I thought the Buy Zone and Rat Zone methods were the best there ever could be, but you have taken those to a new level. Congratulations and thank you.


You're welcome and thank you.

Funny thing is, most of my methods are pretty much the same... HORIZONTAL LINES. Only difference is where the lines are placed.

Remember, you are either trading away from a line or towards one.
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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Postby TheRumpledOne » Sat May 24, 2014 8:20 pm

RicG:

Don't know if you watch my DAILY WICK ZONE videos or not. I assume not, since the methods were developed from statistical analysis.

YouTube: TRO DAILY WICK TRADE 002

" filtering for trending vs range-bound price action with optimized TP/SL (R/R) in order to start trading it. "

Sounds like a YALE STUDENT to me...LOL!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby RicG » Sat May 24, 2014 8:34 pm

TheRumpledOne wrote:RicG:

Don't know if you watch my DAILY WICK ZONE videos or not. I assume not, since the methods were developed from statistical analysis.

YouTube: TRO DAILY WICK TRADE 002

" filtering for trending vs range-bound price action with optimized TP/SL (R/R) in order to start trading it. "

Sounds like a YALE STUDENT to me...LOL!
Hey TRO,

I haven't had the chance to watch the vids yet. I'll try to in the near future.

I was just wondering how johnsund was trading it, since he said he was doing so well with the method. I like understanding how traders are utilizing a particular methodology/strategy.

And yes, I am a statistical/rules based trader. If that makes me a Yale Student, so be it! LOL.

I personally didn't become a consistently profitable trader, until I became very disciplined with a statistical rules based approach (i.e. "filtering for trending vs range-bound price action with optimized TP/SL (R/R)....")

Best Regards,
Ric
(Disclaimer - This post is for educational purposes only. Always consult a licensed investment professional before taking any trade. Any trade you take is at your own risk.)

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Postby TheRumpledOne » Mon May 26, 2014 3:08 am

Ok Ric, please tell me more about how you filter for trending vs range-bound price action.

If I understand, I could write an indicator..
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby TheRumpledOne » Tue May 27, 2014 5:40 am

Image

Image

Image

Image

Image

Image

Not too shabby!!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby MightyOne » Tue May 27, 2014 6:49 am

It seems like a good strategy, will have to explore further.

Image

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Postby RicG » Tue May 27, 2014 12:42 pm

TheRumpledOne wrote:Ok Ric, please tell me more about how you filter for trending vs range-bound price action.

If I understand, I could write an indicator..



Hey TRO,

That's a difficult question to answer specifically, since I develop a trading strategy for a targeted single futures market, and haven't looked at the price action of the various forex pairs that you're trading. I would also add, that I don't know if a "one-size fits all" indicator will work, given the various "personalities" of multiple markets.

However, I'll give some general ideas of ways I've filtered in the past for trend vs range. And as mentioned in my earlier post, if I were doing the work on this filter, it would be conducted and used in connection with optimized TP/SL (R/R), so they are interrelated. That's another reason, why I don't know if generating an isolated, general trend vs range indicator for multiple markets would work. (As I write this, this type of approach sounds like Welles Wilder's ADX indicator, which I've never found to be of any value for my style of trading).

But back to trend vs. range as a standalone. I would look at backtesting results for an ATR threshold that gives an optimized expectancy. Obviously the variables that need to be considered are ATR period and trading timeframe.

Another method I've used is an HMA slope angle filter. When flat, or nearly flat - no trades. Look at optimization, utilizing a minimum slope angle threshold before a signal is valid. It's been my experience that HMA is significantly better for this, than any other MA.

For deciding whether to trade at all on a specific day, I look at the globex session range immediately prior to pit open. I've found a consistent threshold that alerts me when CL expectancy is that of a range bound day session. I don't know how this type of approach would translate to forex, since there is overlap of various world-wide markets "regular" trading hours that affect the ranges of corresponding currencies.

Hope you find something in this that seeds an idea for a great indicator.

Regards,
Ric
(Disclaimer - This post is for educational purposes only. Always consult a licensed investment professional before taking any trade. Any trade you take is at your own risk.)

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