TRO BUY ZONE - KEEP IT SIMPLE

post your indicators here

Moderator: moderators

traderjeffb
rank: <50 posts
rank: <50 posts
Posts: 12
Joined: Sat Jun 30, 2007 6:26 am
Reputation: 0
Gender: Male

Postby traderjeffb » Fri Nov 02, 2007 3:25 am

Ken_S wrote:Thanks Jeff,

"it appears that the first trade that should have been take was the long when it headed up into the buy zone "
Not to beat a dead horse, but the price entered the sell zone first, so why wouldn't you have gone short. Hindsight tells use it just barely entered the sell zone.
The problem is mostly me not keeping stops and/or being greedy. Just trying to come to some firm rules for exits as I think others are too.
Thanks again,
Ken


The thing about the Buy Zone Indicator is that each person can adapt it to fit his/her own belief about the best place to enter and exit a trade. For example, on the trade we have been discussing, you would have entered when the price touched any area within the short zone. Others may wait until it either closes in or below the short zone. I would take the trade at the point when the price breaks lower out of the short zone. I implied you were wrong in going short and maybe I shouldn't have-the indicator can be used any way you wish. I look at the movement and see the price is just moving sideways and would have waited to see who was going to win the battle ...bulls or bears.....

Additionally, some will not use hard fast rules but "read" the market. For example below is a 25 tick chart of AAPL at 10am on 10-24-07
On this chart you will see that the price is dropping at about a 45 degree angle...then there's a bit of a fight between the bulls and bears at the opening price(red line) I wait to see who wins as it then it moves sideways as the battle rages..... just a few bars and it makes a somewhat distinctive move downward into the short zone and closes in the short zone- I would have shorted there not waiting for it to exit the short zone as I mentioned above. See what I mean? Reading the market...Again - everyone uses this great indicator in a way that is comfortable for them adjusting stops and entries to their liking....

Salute TRO!
(such a simple concept yet so powerful)



hope this helps
Jeff

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 11405
Joined: Sun May 14, 2006 9:31 pm
Reputation: 45
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Fri Nov 02, 2007 11:09 am

"The thing about the Buy Zone Indicator is that each person can adapt it to fit his/her own belief about the best place to enter and exit a trade."

Just keep it simple!
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.

LW
rank: <50 posts
rank: <50 posts
Posts: 5
Joined: Sun Sep 23, 2007 3:44 pm
Reputation: 0
Gender: Male

Postby LW » Sat Nov 03, 2007 3:06 am

You don't have to trade AAPL to make money using the buy zone. If it's too complicated with a stock like AAPL that goes in and out of the buy zone all day find a stock that dosen't.

Look, you only had to make one trade today with AMLN. You could have sold it short at the open in the SELL ZONE. The only question is when do you buy it back to make a profit. The answer is ANYTIME! Why anytime? Because it never came back into the sell zone which is the price you sold short at. A 100% win no matter what time you bought it back to cover your short sell! You could have used any method that you wanted to exit. It didn't matter. That's how simple it is. It's fear and greed that make it complicated!
[img]http://kreslik.com/forums/userpix/2865_amln_buy_zone_3.jpg[/img]

LW
rank: <50 posts
rank: <50 posts
Posts: 5
Joined: Sun Sep 23, 2007 3:44 pm
Reputation: 0
Gender: Male

Postby LW » Sat Nov 03, 2007 3:11 am



Sorry, thats AMLN with the open in the sell zone.

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 11405
Joined: Sun May 14, 2006 9:31 pm
Reputation: 45
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Sat Nov 03, 2007 5:24 am

"You don't have to trade AAPL to make money using the buy zone. If it's too complicated with a stock like AAPL that goes in and out of the buy zone all day find a stock that dosen't. "

But you won't know that until AFTER the day is done.

YOU MUST LEARN TO TRADE.
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.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

Ken_S
rank: 50+ posts
rank: 50+ posts
Posts: 60
Joined: Tue Jun 19, 2007 2:43 am
Reputation: 0
Location: Rivervale, NJ
Gender: Male

Postby Ken_S » Sat Nov 03, 2007 2:35 pm

"But you won't know that until AFTER the day is done. "

Yes, yes, its easy to find a chart to show how great some methodology would have worked. The key is what do you do when the setup doesn't work. That's why one needs an exit strategy that still yields at least a positive expectancy.

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 11405
Joined: Sun May 14, 2006 9:31 pm
Reputation: 45
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Sat Nov 03, 2007 4:15 pm

"That's why one needs an exit strategy that still yields at least a positive expectancy. "

EXPECTANCY does not mean GUARANTEE.

Once again, if you enter a buyzone trade in one zone and you find the price on the other side of the open, if you don't exit and perhaps reverse, then you are not trading the buyzone properly.
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.

Jayster9
rank: <50 posts
rank: <50 posts
Posts: 2
Joined: Wed May 17, 2006 2:48 pm
Reputation: 0
Location: Texas
Real name: Jay Hodges
Gender: Male

Buy Zone Lines not plotting

Postby Jayster9 » Sat Nov 10, 2007 4:18 pm

TRO,

I know that you are probably sick of dealing with this same issue, but I too cannot get the horizontal lines to plot on the TRO_BuyZone indicator for stocks. Only the labels are printing. I have unchecked the "Update value Intrabar" box, and my iDecimals = 2, iOpen = dailyopen, iOpenBuyZone = .10, iBuyZoneHI = .20, and iBuyZoneLO = .20.

C-Trader
rank: <50 posts
rank: <50 posts
Posts: 18
Joined: Tue Aug 14, 2007 8:34 pm
Reputation: 0
Location: Lafayette, CA
Gender: Male

Postby C-Trader » Sat Nov 10, 2007 4:57 pm

The lines will only show up during the market hours--you can create your own buyzone indicator with _TRO_Plot which will show up at all times but wont have the labels.

Jayster9
rank: <50 posts
rank: <50 posts
Posts: 2
Joined: Wed May 17, 2006 2:48 pm
Reputation: 0
Location: Texas
Real name: Jay Hodges
Gender: Male

Postby Jayster9 » Sat Nov 10, 2007 5:34 pm

C-Trader wrote:The lines will only show up during the market hours--you can create your own buyzone indicator with _TRO_Plot which will show up at all times but wont have the labels.
Thanks, C-Trader.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “Tradestation indicators”