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DAILY WICK ZONE TRADING
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- TheRumpledOne
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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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- 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.
- 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.
- 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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Re: DAILY WICK ZONE TRADING
Thanks Tro for another great trading idea. But I have a couple of questions
1) the green boxes indicate previous up day so would you only look for buy/long trades when there is a green box?
2) do you still only choose to be one colour rat with this style of trading? only long trades? you don't switch depending on what side of zone market is breaking from?
Thanks!
1) the green boxes indicate previous up day so would you only look for buy/long trades when there is a green box?
2) do you still only choose to be one colour rat with this style of trading? only long trades? you don't switch depending on what side of zone market is breaking from?
Thanks!
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- TheRumpledOne
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Re: DAILY WICK ZONE TRADING
waynehenderson36 wrote:Thanks Tro for another great trading idea. But I have a couple of questions
1) the green boxes indicate previous up day so would you only look for buy/long trades when there is a green box?
2) do you still only choose to be one colour rat with this style of trading? only long trades? you don't switch depending on what side of zone market is breaking from?
Thanks!
1) the green boxes indicate previous up day so would you only look for buy/long trades when there is a green box?
Not necessarily. It is just a reminder how the previous day ended.
2) do you still only choose to be one colour rat with this style of trading? only long trades? you don't switch depending on what side of zone market is breaking from?
No. Price leaves the zone ~70% of the time. You want to be on the ship when it sails.
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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Re: DAILY WICK ZONE TRADING
TheRumpledOne wrote:waynehenderson36 wrote:Thanks Tro for another great trading idea. But I have a couple of questions
1) the green boxes indicate previous up day so would you only look for buy/long trades when there is a green box?
2) do you still only choose to be one colour rat with this style of trading? only long trades? you don't switch depending on what side of zone market is breaking from?
Thanks!
1) the green boxes indicate previous up day so would you only look for buy/long trades when there is a green box?
Not necessarily. It is just a reminder how the previous day ended.
2) do you still only choose to be one colour rat with this style of trading? only long trades? you don't switch depending on what side of zone market is breaking from?
No. Price leaves the zone ~70% of the time. You want to be on the ship when it sails.
Thanks for your advice Tro. Can you help me with the exit play book as it looks like we need to give this strategy more room to work, I saw with the rat you move to b/e pretty quickly but what would be the best way to trade this strategy? Thanks
- TheRumpledOne
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Re: DAILY WICK ZONE TRADING
waynehenderson36 wrote:waynehenderson36 wrote:
Thanks for your advice Tro. Can you help me with the exit play book as it looks like we need to give this strategy more room to work, I saw with the rat you move to b/e pretty quickly but what would be the best way to trade this strategy? Thanks
Best way? What do you mean best way? Taking profit repeatedly is the best way.
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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Re: DAILY WICK ZONE TRADING
Thanks Tro, but I meant when do you move your stop loss? And how do you manage the trade when it's in play?
Re: DAILY WICK ZONE TRADING
waynehenderson36 wrote:Thanks Tro, but I meant when do you move your stop loss? And how do you manage the trade when it's in play?
It is more accurate to call it a "less profit" than a "stop loss" as nothing short of taking profit is going to "stop loss".
If you did not take money off of the table then you should not even think about moving your stop.
How exactly is a trade (all trades?) managed? That depends on YOUR exit playbook; the one that TRO is going to tell you to write:
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