The BuyZone Experiment

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Does the Buy Zone work?

Yes
10
42%
Nope
4
17%
Only if you are TRO
10
42%
 
Total votes: 24

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TheRumpledOne
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Postby TheRumpledOne » Mon May 21, 2007 1:33 pm

TheOne wrote:
TheRumpledOne wrote:If you were to draw a trendline connecting the lows, you would see the Yen bouncing off that trendline.

Remember, instructments usually do not move in a straight line, they wiggle! Give it some room to wiggle.

Also, the SL is one pip away from the entry in the opposite direction!!

Here is the thing. As we venture more and more into the Buy zone it is evident that its not as easy as we were made to believe.
When I first read about the buy zone I thought It was easy and I was to through everything learned out the window. But as time goes I see where this is not the case.
We have to draw trendlines, use sunday as the weekly bias, look out for weekly, monthly highs etc.
For people to trade this setup they need to be aware from the start that this is what is required. I wish all this was made clear from the start.
In looking over my charts I have long realized that trendlines were sometimes necessary (but this was never mentioned before) so I still have my ema's and an indicator or two to help with entries.
I think what 4x=0 is doing is great but I still would love to see a full description of this strategy (hint).


I never said TRADING was EASY. I said the Buy Zone was SIMPLE.

You do NOT have to draw trendlines, use sunday as the weekly bias, look out for weekly, monthly highs etc. Those are just "clues" - ANYTHING CAN HAPPEN! It's what most seasoned traders do almost as second nature.

Don't think for 1 second that just because you draw a trendline on a chart that the market is going to respect it - ANYTHING CAN HAPPEN!

What the BuyZone does is give you a statistical chance of a winning trade. You have to trade it. You must execute the entry and exit. If you hesistate, you could allow a winner to become a loser.

All you have to do is look at the chart and see that the price exits the BuyZone on one side, the other or both. That is why you have the statistical edge.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Postby TheRumpledOne » Mon May 21, 2007 1:41 pm

4x=0, what was the reason you didn't take the GBPUSD short at 2:30 am on your chart? Too slow?

The next 2 shorts you took were taken with higher lows? Remember, my weakness for not watching that, hence TRO PMSM HL. And the second short looks like it may have given you a b/e or 1 pip profit exit.

Hang in there, 4x=0, you'll get it.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby TheRumpledOne » Mon May 21, 2007 1:45 pm

Remember, all you need is ONE TRADE PER DAY and net 2 - 4% on the trade.

DO NOT OVER TRADE!

That's why I like to use 60 minute candles.

Remember, all you need is ONE TRADE PER DAY and net 2 - 4% on the trade.

Wait for the best setup: candle color in agreement, trends in your favor, biases in your favor, etc...

Remember, all you need is ONE TRADE PER DAY and net 2 - 4% on the trade.

If you want, of course, you can trade each open but you must wait for your setup.

Trading is waiting. Only takes a second or 2 to enter/exit a trade. All the rest of the time is spent waiting.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby TheRumpledOne » Mon May 21, 2007 1:59 pm

BUY ZONE TRADE






I went long on green 60 minute candle. Higher Lows, last touch was dynamic support, target was 23% fib dot. In/out under 2 minutes. 4 pip net.

I didn't take the short because I was looking to go long again. I did NOT want to trade against higher lows. But the short was there ( lower highs!! ).
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby 4x=0 » Mon May 21, 2007 2:31 pm







Nice trade TRO


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Postby TheRumpledOne » Mon May 21, 2007 3:36 pm

THIS WAS AN AGONIZING TRADE... OVER AN HOUR!







There were 2 or 3 opportunites to take 2 pip net and I passed.

But the SL was never hit and I took my 4 pip net when I got the chance.

Higher Lows kept me in the trade.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby 4x=0 » Mon May 21, 2007 4:13 pm

Both of Avery's trades were using the NY open and GBP/USD


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Postby yzmfm » Mon May 21, 2007 4:21 pm

TheRumpledOne wrote:BUY ZONE TRADE






I went long on green 60 minute candle. Higher Lows, last touch was dynamic support, target was 23% fib dot. In/out under 2 minutes. 4 pip net.

I didn't take the short because I was looking to go long again. I did NOT want to trade against higher lows. But the short was there ( lower highs!! ).


TRO / Avery

Can you please explain me :

At your first trade in the NY session the previus 3 H1 candles are red. and if you are talking about the current candle while entering the position can you please explain a situation at the first hour from the opening and hitting the BuyZone and the current H1 candle red :)

Thanks

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Postby TheRumpledOne » Mon May 21, 2007 4:34 pm

yzmfm:

Yes, I look at the current 60 minute candle color to determine trade/trend direction.

Not sure what you mean by first hour? I think my chart may have confused you. 5 am on my chart is 8 am NY time, so the first candle of the NY session ends at 6am. That's the green candle where I entered my first trade of the day. Those previous candles are London session candles. But the Buy Zone lines extend left to the beginning of the day (Monday 12:00 am AZ time).

Does that clear things up?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby yzmfm » Mon May 21, 2007 5:25 pm

TheRumpledOne wrote:yzmfm:

Yes, I look at the current 60 minute candle color to determine trade/trend direction.

Not sure what you mean by first hour? I think my chart may have confused you. 5 am on my chart is 8 am NY time, so the first candle of the NY session ends at 6am. That's the green candle where I entered my first trade of the day. Those previous candles are London session candles. But the Buy Zone lines extend left to the beginning of the day (Monday 12:00 am AZ time).

Does that clear things up?


Avery

What i canot understend is the following:

The opening of the NY session and as well the open of the first H1 candle of the day was at 1.9686, now when we hit the BuyZone = 1.9690 automaticaly the current H1 candle can only be green, and there canot be a situation thet the first candle of the day when hitting the BuyZone should be red, since the current price is open > or when hitting the SellZone should be Green. becuse the open of thet candle is the same as the daily open.

Did you get me ?
Yankey

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