DAILY WICK ZONE TRADING

[MightyOne]

What indicators and or template do you have on this chart?

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[MightyOne]

I see this price action all the time...

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[MightyOne]

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[kcbnyc]

Thanks! I don't have those indicators...can you share?

V/r
Kirk

[MightyOne]

Thanks! I don't have those indicators...can you share?

V/r
Kirk

Buy7one requires you to be familiar with the BuyZone trade, price levels, and EIGHTS money management.
You are better off starting with this one: BuyZone Indicator

You should head over to this thread and see if this style of trading is right for you or focus on Wick-zone, Rat Trade, or dchappy's Simple as 1-2-3 thread.

These are the mini-charts that I use, nothing fancy.

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[TheRumpledOne]

Thanks. For some reason, the HTBL Zone Indicator doesn't show the zone when viewing certain pairs. Like AUD/USD.

Please post a chart showing this.

[TheRumpledOne]

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[kcbnyc]

Thanks Everyone.

Okay. On the East Coast, I work a day job which makes it difficult to trade the European and US open/markets.
I was thinking about setting up buy stops, stop loss, and take profit using the Wick Zone indicators.
I'd go only long and use proper money management. Of course, all this would be paper traded first.

What are your thoughts/suggestions?

V/r
Kirk

[TheRumpledOne]

Thanks Everyone.

Okay. On the East Coast, I work a day job which makes it difficult to trade the European and US open/markets.
I was thinking about setting up buy stops, stop loss, and take profit using the Wick Zone indicators.
I'd go only long and use proper money management. Of course, all this would be paper traded first.

What are your thoughts/suggestions?

V/r
Kirk

Forget paper trading. You need some skin in the game. A penny a pip or a dime a pip but something!!

[MightyOne]

Thanks Everyone.

Okay. On the East Coast, I work a day job which makes it difficult to trade the European and US open/markets.
I was thinking about setting up buy stops, stop loss, and take profit using the Wick Zone indicators.
I'd go only long and use proper money management. Of course, all this would be paper traded first.

What are your thoughts/suggestions?

V/r
Kirk

Forget paper trading. You need some skin in the game. A penny a pip or a dime a pip but something!!

There is almost nothing that I hate more than to hear people call the act of pushing buttons 'paper trading'.

Paper trading is where you manually update charts and use a pen to record your paper entries as prices become available to you:
I used to sit down with a chartbook and call the broker every 30 minutes or so to update my charts and when I was ready to place
a real trade then I would follow the same method and place the trade for real; I only had $2000 when I first started so I did more
paper trading than real trading and eventually I did more real trading than paper trading.

When the markets are closed you go through your charts and you relive each stroke of the pen, it is a completely different experience than traders have today.

Their 'paper trading', so called, is worth the same as an online diploma: they will always be an entry level trader.

If a person does decide to trade live then I would suggest that they deposit 25% of their gross income and risk .4% or less per trade;
that is similar to depositing 10% and risking 1% per trade only you have more upside potential because of increased buying power.