That depends on what you are trading and your trading platform.
Call what?
TRO BUY ZONE - KEEP IT SIMPLE
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- TheRumpledOne
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- RockHardTen
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I've been testing out the buy zone on mainly GU and with a variety of accounts and the one over riding thing to come out of it is the difference between trading with a DOM and using the standard MT4 type order or ticket.
As I'm sure everyone will have noticed on the GU or indeed almost all pairs, the price twitches about just after a new 1hr candle starts. For obvious reasons. This means 1 or 2 pips either way can mean the difference between a winning or losing trade, so its imperative to get the best possible price. The best way to do this from my testing is to use a DOM.
Like TRO, I have an account with MB and use Ninja's SuperDOM as they call it. When I want to make a trade I try to get a price within the spread and I've set up a strategy with an auto breakeven and trailing stop. Using the DOM has, on average, made a difference of about 4 pips, and in numerous cases it has made the difference between a winning trade and being stopped out.
MT5 looks as though it will have a DOM included which can only be a good thing but meanwhile I'd encourage everyone to think about how they enter their trades very carefully as I'm sure there are many out there not getting the best prices they could.
As I'm sure everyone will have noticed on the GU or indeed almost all pairs, the price twitches about just after a new 1hr candle starts. For obvious reasons. This means 1 or 2 pips either way can mean the difference between a winning or losing trade, so its imperative to get the best possible price. The best way to do this from my testing is to use a DOM.
Like TRO, I have an account with MB and use Ninja's SuperDOM as they call it. When I want to make a trade I try to get a price within the spread and I've set up a strategy with an auto breakeven and trailing stop. Using the DOM has, on average, made a difference of about 4 pips, and in numerous cases it has made the difference between a winning trade and being stopped out.
MT5 looks as though it will have a DOM included which can only be a good thing but meanwhile I'd encourage everyone to think about how they enter their trades very carefully as I'm sure there are many out there not getting the best prices they could.
- Patch
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andypeters
Do you keep track of time of day of your trades and results for the different hours? I wonder what time or times, of day do you trade? Is it the same time or does it vary? What is your hi and low pip profits? Losses?
Have you tried trading time frames other than H1? H4? M15? M5?
TRO2009_WICK_COUNT_UI is a great indi for seeing the statistical spread of either the wicks or the tails. It is interesting to see what happens to each as the time frame moves from low to high. The higher the time frame, the bigger the wick or tail. Now a long tail can also turn a profit if it is long enough and accommodates the trigger and profit target.
How do you like Ninja Super DOM and is it hard to learn?
Patch
In VA
Do you keep track of time of day of your trades and results for the different hours? I wonder what time or times, of day do you trade? Is it the same time or does it vary? What is your hi and low pip profits? Losses?
Have you tried trading time frames other than H1? H4? M15? M5?
TRO2009_WICK_COUNT_UI is a great indi for seeing the statistical spread of either the wicks or the tails. It is interesting to see what happens to each as the time frame moves from low to high. The higher the time frame, the bigger the wick or tail. Now a long tail can also turn a profit if it is long enough and accommodates the trigger and profit target.
How do you like Ninja Super DOM and is it hard to learn?
Patch
In VA
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO
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Haven't looked at the time of day as I tend only to trade during the active part of the London session.
SuperDOM is easy to use and they have some good videos and daily webinars to get you up to speed. Its really neat to be able to pop inside the spread too.
I'd prefer Button Trader (only available with IB accounts) but the SuperDOM works Ok for me.
The thing is, all these extra pips here and there really can make a huge difference in the long run.
SuperDOM is easy to use and they have some good videos and daily webinars to get you up to speed. Its really neat to be able to pop inside the spread too.
I'd prefer Button Trader (only available with IB accounts) but the SuperDOM works Ok for me.
The thing is, all these extra pips here and there really can make a huge difference in the long run.
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The buy Zone
I am new this Traders Community, I have a question about the Buy Zone, does this work for Day Trading Stocks, If someone could point me in the right direction, I would be grateful. Thanks
- volnmar
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Re: TRO BUY ZONE - KEEP IT SIMPLE
Does anybody have some real trading history, backtests, or rules that works best for him?
Just learning
Re: TRO BUY ZONE - KEEP IT SIMPLE
What is it that you don't understand .Enter in the zone or as I do at the cross .Take a few pips and quit .Easy- Peasey..
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Re: TRO BUY ZONE - KEEP IT SIMPLE
If you want you can also use a larger tf for a bias .I just use the 1 min and take 1 or 2 trades @ the open . (back testing a method such as this serves little purpose IMHO .)
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- prochargedmopar
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Re: TRO BUY ZONE - KEEP IT SIMPLE
dchappy wrote:If you want you can also use a larger tf for a bias .I just use the 1 min and take 1 or 2 trades @ the open . (back testing a method such as this serves little purpose IMHO .)
Backtesting can serve a great purpose.
It can train the Neron connections in our brains to react properly and consistently.
It can allow us to see little distinctions that happen in the market over and over with 1000's of occurrences to draw from.
It can show us if what we are doing is actually profitable when we follow certain PRINCIPLES.
jmHo....if I have such a thing that is humble. LOL
#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
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
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