Never Lose Again

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razorboy
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Postby razorboy » Fri Nov 28, 2008 8:48 pm

I just grabbed this shot randomly, had I been playing it, I may have gotten kicked out a lot, but working your way out of a few smaller losses is a lot easier than trying to earn back that 20 pip loss, plus it will keep me out of a lot of trade that "I thought looked good, but weren't" As I get more and more comfortable with this approach, I have been forcing myself to stay in the trades longer. If you are long and you get another good set up when a new candle begins, stay in for a bit

On occasion, typically if the distance from the midpoint to the support or res line is short, I will us the support/res as the stop. The other thing you need to look at is the sometimes the location of the pivot point and mid point are reversed - like in your first and second red box. I would have entered on that and use the res line as a SL or maybe a half way point between the open and the res line

I never touch the break outs.........
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!

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razorboy
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Postby razorboy » Fri Nov 28, 2008 8:57 pm

sorry on the last red box, i was in.
shorted what turned out to be a green candle then got out on the next red for a few pips as it never hit my SL

Remember all of the forms you see are just artificats. Find another live chart and look at the difference between the two. A 1 second lag may give you different shaped candles but the direction is still the same over all
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!



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Postby theperfectsun » Fri Nov 28, 2008 9:22 pm

Ok, this is Eur/jpy today.

Look at the pic attached, a lot of loosing trades, even accordiing to your rules...

The price just kept braking the support and after the resistance...

thank you

Good luck to you all!

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Postby winny » Fri Nov 28, 2008 11:19 pm

TheRumpledOne wrote:[

The Buy Zone originated as an automated stock trading system that was nicknamed AutoAvery for TradeStation. It worked just fine AFTER learning a couple of expensive lessons.



TRO, I had a look into the Tradestation board, but was not able to find your AutoAvery (BuyZone) Strategy for Tradestation. Would you be willing to share this code with me ?
Thank you.

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Postby winny » Sat Nov 29, 2008 12:12 am

TRO, do you also have a Tradestation BuyZone Indicator that changes every hour ?

I only have the Tradestation version that is displayed at the open.

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Postby razorboy » Sat Nov 29, 2008 3:14 am

I think we may be misunderstanding one another

In your first red box, I would not have gone in one any of those. I would be looking to go long at some point, but not one of those look to open above the pivot point of the previous candle - hit support line......start thinking long

Second red box, I would have bought on the open of the second green

Third red box, I would have bought the first green (this would have been an textbook set up)

Fourth red box - no trade for me there. Would have shorted the on the open of the second red, which looks just outside the box

Next trade - coming off the blue dots - first green may have been an entry that would have stopped out - cant see the pivot point. Second green was an entry for me - would have been a quick one

theperfectsun wrote:Ok, this is Eur/jpy today.

Look at the pic attached, a lot of loosing trades, even accordiing to your rules...

The price just kept braking the support and after the resistance...


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Postby eudamonia » Sat Nov 29, 2008 7:06 pm

Razor,

What is the name of the pivot point indicator you are using?

Edward
Eudaimonia (pron.: you-die-moan-e-a) (Greek: εὐδαιμονία) is a classical Greek word commonly translated as 'happiness'. The less subjective "human flourishing" is often preferred as a translation.

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Postby Sweet Pip » Sat Nov 29, 2008 9:17 pm

Hi TRO,

Since playing around with FXCM's platform, I discovered that I can click and drag my pending order lines to move them right on their charts. I like that..lol

However while playing around with that, something else started to come to mind. So I went back thru your NLA thread on babypips, and did some more googling, and back to that thread again.

What I noticed about the trades all looking the same in your examples was that when price makes a "big" move in one direction out of proportion to it's normal movement, it eventually will reverse (bounce, retrace or whatever you want to call it). I've found some articles on such behaviour and they call it "fading the breakout".

So, when I see price making a big move...say downwards..I've been placing my pending buy order just above price with a bit of a buffer. If price keeps moving down, then I keep moving my pending order to follow it.

Do you have any comments on what I'm doing ...am I still chasing price? or not placing the entry with proper consideration...or...?

Thanks a bunch! :)
It's not always about getting what you want...it's wanting what you've got!

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razorboy
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Postby razorboy » Sat Nov 29, 2008 9:44 pm

I was doing this for a bit, the problem I ran into was a stop loss issue........where do you put it.....how much draw down do you take. The other issue is that with FXCM is that there is a limit to how close to the price you can place your order

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Postby TheRumpledOne » Sat Nov 29, 2008 10:39 pm

winny wrote:
TheRumpledOne wrote:[

The Buy Zone originated as an automated stock trading system that was nicknamed AutoAvery for TradeStation. It worked just fine AFTER learning a couple of expensive lessons.



TRO, I had a look into the Tradestation board, but was not able to find your AutoAvery (BuyZone) Strategy for Tradestation. Would you be willing to share this code with me ?
Thank you.


NO!

I do not post auto code... too many things can go wrong!!
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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