Entry is the big red arrow pointing down. Exit was when I got stopped out, as you say when it hit the other side of the zone.
This is a weekly zone btw.
If I was trading this on a smaller time basis I could have exited out on the 123 breakout at the bottom.
However this is not possible if you're not watching the charts when moves like this happen.
DAILY WICK ZONE TRADING
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- newscalper
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Re: DAILY WICK ZONE TRADING
newscalper wrote:Entry is the big red arrow pointing down. Exit was when I got stopped out, as you say when it hit the other side of the zone.
This is a weekly zone btw.
If I was trading this on a smaller time basis I could have exited out on the 123 breakout at the bottom.
However this is not possible if you're not watching the charts when moves like this happen.
Look at the M15 and Daily of the chart that I recently posted
Instead of using a weekly zone, just key in on a prev. daily zone that appears to be significant; I myself use a combination of current (non-active) and past zones.
- newscalper
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Re: DAILY WICK ZONE TRADING
And am I then trading the daily candle or the weekly candle?
I'm trading the weekly candle.
I cant trade anything smaller. I cannot reaslistically look at a chart any time between around 6AM GMT to 9PM GMT due to work comitments and having a life. That means that I can't look, even for say, a 1-2-3 which may say exit the daily candle on a 15 minute chart.
AFAIK TRO doesn't see areas of significance or use them, his stats certainly wouldn't have taken them into account.
I'm trading the weekly candle.
I cant trade anything smaller. I cannot reaslistically look at a chart any time between around 6AM GMT to 9PM GMT due to work comitments and having a life. That means that I can't look, even for say, a 1-2-3 which may say exit the daily candle on a 15 minute chart.
AFAIK TRO doesn't see areas of significance or use them, his stats certainly wouldn't have taken them into account.
Re: DAILY WICK ZONE TRADING
newscalper wrote:And am I then trading the daily candle or the weekly candle?
I'm trading the weekly candle.
...
AFAIK TRO doesn't see areas of significance or use them, his stats certainly wouldn't have taken them into account.
1) The "areas of significance" are wick zones
2) Stats on WZ are simply the probability that price will close outside of the zone, two data points, given time.
It makes NO difference whether you use yesterdays WZ or the WZ from 27 weeks ago.
3) I don't really care what you do
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Re: DAILY WICK ZONE TRADING
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
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Re: DAILY WICK ZONE TRADING
newscalper wrote:Entry is the big red arrow pointing down. Exit was when I got stopped out, as you say when it hit the other side of the zone.
This is a weekly zone btw.
If I was trading this on a smaller time basis I could have exited out on the 123 breakout at the bottom.
However this is not possible if you're not watching the charts when moves like this happen.
Ok, you are using a weekly wick zone. Your position size should be set that your risk is always the same. So whether you get stopped out at 15 pips or 150 pips, your loss in dollars should be the same.
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.
Please do NOT PM me with trading or coding questions, post them in a thread.
Re: DAILY WICK ZONE TRADING
Crash Zones...not this week
Next week I am hoping for something spectacular
Next week I am hoping for something spectacular
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Re: DAILY WICK ZONE TRADING
MightyOne wrote:newscalper wrote:And am I then trading the daily candle or the weekly candle?
I'm trading the weekly candle.
...
AFAIK TRO doesn't see areas of significance or use them, his stats certainly wouldn't have taken them into account.
1) The "areas of significance" are wick zones
2) Stats on WZ are simply the probability that price will close outside of the zone, two data points, given time.
It makes NO difference whether you use yesterdays WZ or the WZ from 27 weeks ago.
3) I don't really care what you do
3) Whatever
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Re: DAILY WICK ZONE TRADING
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.
Please do NOT PM me with trading or coding questions, post them in a thread.
- TheRumpledOne
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Re: DAILY WICK ZONE TRADING
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.
Please do NOT PM me with trading or coding questions, post them in a thread.
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