hi ken
yes i keep a record of all my trades, have done since i started,
now i trade 1 pair, thats it.
all i trade is the trade zone thats it.
you may have started like me all pairs all, methods, getting nowhere!
the more i think about it, the more it makes sence to trade the largest ranging pair more movement, will try to find stats keep you informed.
cheers jon
Kenyuki's BuyZone Trading Blog
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jonisonvespa
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ok
here are the stats, using tros range gauge, over a period h1 range im asuming his average figure -- avg(24) is the average over a 24 day period??
eu 31.9 pips
gu 38.25
uj 18.92
which pair wins?? so im asuming its either eu or gu??
eu-- low range - not so good, but low spread - good.
gu-- high range - good high spread -- not good.
i soppose it could be worked out on % sort equation??
i hope tro doesnt see this i may get the yale application form.
my gut feeling is eu due to the lowest spread, that may be because im the tightest person in the world.
your thoughts?? or anybodys??
im using tros donational buy zone is ther an alarm on keep missing trades
here are the stats, using tros range gauge, over a period h1 range im asuming his average figure -- avg(24) is the average over a 24 day period??
eu 31.9 pips
gu 38.25
uj 18.92
which pair wins?? so im asuming its either eu or gu??
eu-- low range - not so good, but low spread - good.
gu-- high range - good high spread -- not good.
i soppose it could be worked out on % sort equation??
i hope tro doesnt see this i may get the yale application form.
my gut feeling is eu due to the lowest spread, that may be because im the tightest person in the world.
your thoughts?? or anybodys??
im using tros donational buy zone is ther an alarm on keep missing trades
Hi jon,
I used to trade EURUSD and USDJPY using Fibonacci and S+R lines with Pivot Points. I actually did quite well (after doing really bad
), but the progress was just too slow as I only traded the D1 and up timeframes and thus had to use smaller lots.
Like I said, I got rid of the spread issues so I do not really have to worry about it anymore.
Due to the high trading volume the movement on EURUSD could be a bit steady. If you are trading the Euro session then just trade the most active pairs during that time.
I hope you don't mind if I ask: Why do you need an alarm for missed trades? Wouldn't it be better to focus on the current PA and just take the opportunities the markets are giving you now? Just enter your trades on the open of every hour and once a trigger gets hit, just cancel the other trade. Or you can also enter multiple times - it will be your call (I personally limit myself to one trade per hour only).
Cheers,
Ken.
jonisonvespa wrote:you may have started like me all pairs all, methods, getting nowhere!
I used to trade EURUSD and USDJPY using Fibonacci and S+R lines with Pivot Points. I actually did quite well (after doing really bad
), but the progress was just too slow as I only traded the D1 and up timeframes and thus had to use smaller lots.jonisonvespa wrote:my gut feeling is eu due to the lowest spread, that may be because im the tightest person in the world.
your thoughts??
Like I said, I got rid of the spread issues so I do not really have to worry about it anymore.
Due to the high trading volume the movement on EURUSD could be a bit steady. If you are trading the Euro session then just trade the most active pairs during that time.
jonisonvespa wrote:im using tros donational buy zone is ther an alarm on keep missing trades
I hope you don't mind if I ask: Why do you need an alarm for missed trades? Wouldn't it be better to focus on the current PA and just take the opportunities the markets are giving you now? Just enter your trades on the open of every hour and once a trigger gets hit, just cancel the other trade. Or you can also enter multiple times - it will be your call (I personally limit myself to one trade per hour only).
Cheers,
Ken.
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jonisonvespa
- rank: <50 posts
- Posts: 32
- Joined: Sun Oct 18, 2009 9:44 am
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- Gender:
Hi jon,
All I'm saying is, no matter how much research and analysis and trade confirmations you get, it can still go wrong. Once you're in a trade, it will be up to the markets where the price will actually go. So just concentrate on the current price action. Green candle = go long. Red candle = go short. Keep it simple.
Maybe it's just me, but I've had enough of complex trading setups where you will need to wait until Venus aligns with Pluto on a full moon etc.
I mean, no one will ever figure out the markets anyway. It will always be random so why bother? Just play with the statistics and make it your edge. And I think this is what the BuyZone gives you. A 50:50 chance of winning is good enough if you manage your trades properly, i.e. limit your loss and let the profits run.
Of course, that does not mean that you scrap the trading education. I think it is essential to learn and understand the basics. I have spent a few hundred Pounds on trading books, and do not regret it.
Please, this is my personal opinion based on my own experience. Do make your own and decide for yourself which way you want to go.
I started reading about VSA (volume spread analysis) but did not have the zest to finish reading yet. The volume kind of indicates how big the candles (price movement) get, so the higher the volume the bigger (longer) the candles are and vice versa. If the price is stalling and the volume is down then you can pretty much expect low to no price movement. At least that is what I understood so far
I'm not sure if this indicator is useful to me though because honestly, I only look at the candles when I'm in a trade. Sometimes I don't even look at the charts - but I have tweaked my trading plan recently and will be trailing my stop now, so I better start doing this I think.
I still kind of like the volume indicator though. It is like the lane markers on the road for me
.
Cheers,
Ken.
jonisonvespa wrote:hi ken could you explain what you wrote??
Wouldn't it be better to focus on the current PA and just take the opportunities the markets are giving you now?
All I'm saying is, no matter how much research and analysis and trade confirmations you get, it can still go wrong. Once you're in a trade, it will be up to the markets where the price will actually go. So just concentrate on the current price action. Green candle = go long. Red candle = go short. Keep it simple.
Maybe it's just me, but I've had enough of complex trading setups where you will need to wait until Venus aligns with Pluto on a full moon etc.
I mean, no one will ever figure out the markets anyway. It will always be random so why bother? Just play with the statistics and make it your edge. And I think this is what the BuyZone gives you. A 50:50 chance of winning is good enough if you manage your trades properly, i.e. limit your loss and let the profits run.
Of course, that does not mean that you scrap the trading education. I think it is essential to learn and understand the basics. I have spent a few hundred Pounds on trading books, and do not regret it.
Please, this is my personal opinion based on my own experience. Do make your own and decide for yourself which way you want to go.
jonisonvespa wrote:also noticed you are using the better volume indi is it of any use??
I started reading about VSA (volume spread analysis) but did not have the zest to finish reading yet. The volume kind of indicates how big the candles (price movement) get, so the higher the volume the bigger (longer) the candles are and vice versa. If the price is stalling and the volume is down then you can pretty much expect low to no price movement. At least that is what I understood so far
I'm not sure if this indicator is useful to me though because honestly, I only look at the candles when I'm in a trade. Sometimes I don't even look at the charts - but I have tweaked my trading plan recently and will be trailing my stop now, so I better start doing this I think
.
I still kind of like the volume indicator though. It is like the lane markers on the road for me
.
Cheers,
Ken.
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Thank you for your support.
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I have set up another trading log at meetpips. They run the stats so it is easier to keep track.
I will need to log my past trades there as well, so please bear with me until the log has been fully updated. I will be posting the same charts there but meetpips always runs an "exit interview" first before you close your trade. Kinda forces you to self-reflect
In the meantime you can check it here: http://meetpips.com/members/Ken (win rate currently at 100 %
)
Should be fully updated by the weekend.
Ken.
I will need to log my past trades there as well, so please bear with me until the log has been fully updated. I will be posting the same charts there but meetpips always runs an "exit interview" first before you close your trade. Kinda forces you to self-reflect
In the meantime you can check it here: http://meetpips.com/members/Ken (win rate currently at 100 %
)
Should be fully updated by the weekend.
Ken.
700 trade:
Long (6000) @ 1.64643, exit @ 1.64679
Long (4000) @ 1.64637, exit @ 1.6465
My initial order unfortunately did not get filled on the first trigger (see candle @ 2:00) - perhaps because price movement was just too fast.
I entered on the second trigger (2:04 bear candle), trusting that the zeroline (1.6460) will be a major support (or demand area).
I'm still figuring out how to trail stops properly, as GBPUSD is still rallying as I write. I'm basically missing out the fun because I left the party early. Next trade should hopefully be better.
Total pips = 5
Long (6000) @ 1.64643, exit @ 1.64679
Long (4000) @ 1.64637, exit @ 1.6465
My initial order unfortunately did not get filled on the first trigger (see candle @ 2:00) - perhaps because price movement was just too fast.
I entered on the second trigger (2:04 bear candle), trusting that the zeroline (1.6460) will be a major support (or demand area).
I'm still figuring out how to trail stops properly, as GBPUSD is still rallying as I write. I'm basically missing out the fun because I left the party early. Next trade should hopefully be better.
Total pips = 5
BuyZone Frequently Asked Questions
Hello fellow traders,
I thought I'd post the BuyZone FAQ's for everyone who might be interested.
These were copied from TRO's pdf, which should be here in this forum somewhere.
Best of success to everyone,
Ken.
_____________________________________
CHAPTER 4 FREQUENTLY ASKED QUESTIONS
The Buy Zone is so simple that many people have a hard time understanding the rules. They try to "think".
If the rules don't say to do something, then don't do it ? IT'S THAT SIMPLE!
Q. Do I have to wait for the candle to close to enter the trade?
A. NO. Nowhere in the Buy Zone rules does it say to wait for the candle to close to enter the trade.
Q. Do I use a market order to enter the trade?
A. NO. Use a limit order. Open + 4 pips to buy. Open ? 4 pips to sell short.
NEVER USE A MARKET ORDER. Market orders are used when you are PANICKING!! If you want to enter or exit a position so badly you don?t care what the price is that is when you use a market order.
Q. What other indicator(s) should I use on my chart?
A. NONE. Nowhere in the Buy Zone rules does it say to use other indicators. You don?t need any other indicators.
Q. Why is the Stop Loss 5 ? 7 pips?
A. Michal Kreslik and I ran statistics for all the major pairs and the result was if a trade goes against you 7 pips, you will have to wait a
long time for the price to return. Also, the Buy Zone is 8 pips wide. If you enter at the trigger line and the trade goes against you.
You should be reversing your position shortly!
Q. Where do I get the BUY ZONE FOR DUMMIES INDICATOR?
A. The BUY ZONE FOR DUMMIES INDICATOR along with some other indicators are sent to people who have made a donation to therumpledone@gmail.com PayPal account as a ?thank you? for their support.
Q. Can I trade other methods along with the Buy Zone?
A. ?BEWARE THE MAN WITH ONE GUN? HE PRACTICES WITH IT!?
Q. Why does the Buy Zone work?
A. The Buy Zone is a statistically calculated system that is designed to take advantage of the trading range of the instrument being traded. For example, as of January 17, 2008, the GBPUSD has an average hourly range of 31 pips over the last 960 hours. The Buy Zone is 8 pips wide. You can?t fit 31 into 8. The range has to stick out of at least one side. So, if you enter at the trigger line, you have the statistical edge of making a profit?
IT IS THAT SIMPLE!
I thought I'd post the BuyZone FAQ's for everyone who might be interested.
These were copied from TRO's pdf, which should be here in this forum somewhere.
Best of success to everyone,
Ken.
_____________________________________
CHAPTER 4 FREQUENTLY ASKED QUESTIONS
The Buy Zone is so simple that many people have a hard time understanding the rules. They try to "think".
If the rules don't say to do something, then don't do it ? IT'S THAT SIMPLE!
Q. Do I have to wait for the candle to close to enter the trade?
A. NO. Nowhere in the Buy Zone rules does it say to wait for the candle to close to enter the trade.
Q. Do I use a market order to enter the trade?
A. NO. Use a limit order. Open + 4 pips to buy. Open ? 4 pips to sell short.
NEVER USE A MARKET ORDER. Market orders are used when you are PANICKING!! If you want to enter or exit a position so badly you don?t care what the price is that is when you use a market order.
Q. What other indicator(s) should I use on my chart?
A. NONE. Nowhere in the Buy Zone rules does it say to use other indicators. You don?t need any other indicators.
Q. Why is the Stop Loss 5 ? 7 pips?
A. Michal Kreslik and I ran statistics for all the major pairs and the result was if a trade goes against you 7 pips, you will have to wait a
long time for the price to return. Also, the Buy Zone is 8 pips wide. If you enter at the trigger line and the trade goes against you.
You should be reversing your position shortly!
Q. Where do I get the BUY ZONE FOR DUMMIES INDICATOR?
A. The BUY ZONE FOR DUMMIES INDICATOR along with some other indicators are sent to people who have made a donation to therumpledone@gmail.com PayPal account as a ?thank you? for their support.
Q. Can I trade other methods along with the Buy Zone?
A. ?BEWARE THE MAN WITH ONE GUN? HE PRACTICES WITH IT!?
Q. Why does the Buy Zone work?
A. The Buy Zone is a statistically calculated system that is designed to take advantage of the trading range of the instrument being traded. For example, as of January 17, 2008, the GBPUSD has an average hourly range of 31 pips over the last 960 hours. The Buy Zone is 8 pips wide. You can?t fit 31 into 8. The range has to stick out of at least one side. So, if you enter at the trigger line, you have the statistical edge of making a profit?
IT IS THAT SIMPLE!
Last edited by Kenyuki on Wed Nov 04, 2009 9:41 am, edited 1 time in total.
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