Statistical Relevance of this phenomenon question for Avery

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draco
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Statistical Relevance of this phenomenon question for Avery

Postby draco » Tue Feb 10, 2009 4:49 pm

Michal and Avery, your opinion on this is needed.
Open the attached image. The white line is the hourly open at 10 o clock EST. I bought at open + 5ticks and made a decent scalp in a few minutes. Notice that around 10:23 the price reverts back to the hourly open. Should I have placed a buy order at open + 5ticks even at 10:23. Is going after even the 2nd time in an hour statistically valid? Or is the buyzone type of trade only for the first breakout. Thanks.
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TheRumpledOne
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Postby TheRumpledOne » Tue Feb 10, 2009 11:20 pm

You can trade the session open BUY ZONE until the session is closed.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Postby prochargedmopar » Sat Feb 28, 2009 8:26 pm

I noticed fri when I started trading the buy zone I'd stop out around minus 4-5 pips the first two trades. This happened twice. The third try would make a run. I can handle dropping 8-10 pips if I'm able to recoup 15-20. On the 2nd BZ hour I took a second position as it started to build momentum. That made the pips rack up quick.
I'm thinking just keep taking your mini losses and eventually you'll get in on the big run of the H1 candle's average range.
You'll get it all back and much much more.
I could make a career out of this if I wasn't so.........??
:twisted:
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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TheRumpledOne
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Postby TheRumpledOne » Sat Feb 28, 2009 11:46 pm

"I noticed fri when I started trading the buy zone I'd stop out around minus 4-5 pips the first two trades. "

Let the market choose a direction.

Then hop on.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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