TRO BUY ZONE - KEEP IT SIMPLE

[LeMercenaire]

108th minute. Come on England!!

It's all your fault...

I hate penalty shootouts. Awesome game, England got lucky.

I actually like penalty shootouts. England had to eventually win one.

[LeMercenaire]

OK then - Happy 4th of July to all my American friends...To all the Canadians, sorry I missed Canada Day congrats, as I was binge-watching the CFL games, lol.

P=Profit
L=Loss
M=Missed
NA=No trade

225JP ''P''
AC ''NA''
GU ''P''
UC ''P''
CJ ''NA''
GN ''P''
Dollar Index ''P''
S&P ''NA''
UNok ''P''
GOLD ''P''
EA ''NA''
EG ''P''
AU ''NA''
CAC40 ''P''
DAX ''P''
UChf ''P''
EJ "P"
GJ ''P''

[Columba]

LeM --

You hinted at this before, but I imagine you would not really take, say, a BZ on the GN (and possibly others) given the oversized spread if you only seek 2 or 3 pips per trade. Nearly all the others don't carry too weighty a spread.

Also wondering about something like the UNok on the overnight . . . probably not much going on until Euro morning trading.

(More) Great trading to you!

C

[Columba]

108th minute. Come on England!!

It's all your fault...

It usually is . . .

[LeMercenaire]

LeM --

Do you plan to buy up Stockholm following the upcoming WC match? You must do something with those BZ pounds pouring into your Swiss accounts (I presume).

You hinted at this before, but I presume you would not really take, say, a BZ on the GN (and possibly others) given the oversized spread if you only seek 2 or 3 pips per trade. Nearly all the others don't carry too weighty a spread.

Also wondering about something like the UNok on the overnight . . . probably not much going on until Euro morning trading.

(More) Great trading to you!

C

Yeah, at the moment, this is simply an exercise. Not quite a watching brief only, as I will take a trade if I see it happen right in front of my nose - but I am not taking all of these.

The spread issue is especially annoying re GN, as I love the way that pair moves. I can get away with it - just about - for my US Open play if it suits but late at night...not so much. Ditto for UNok as you say. The Dollar Index similarly.

[LeMercenaire]

Evening all.

Well...I hope you are all sitting down for this. Shocking news...just shocking. We...had...a...loss.

P=Profit
L=Loss
M=Missed
NA=No trade

225JP ''P''
AC ''L'' Reverse move: ''P'' Next directional move: ''P''
GU ''P''
UC ''P''
CJ ''P''
GN ''P''
Dollar Index ''P''
S&P ''P''
UNok ''P''
GOLD ''P''
EA ''P''
EG ''NA''
AU ''P''
CAC40 ''P''
DAX ''P''
UChf ''P''
EJ "P"
GJ ''P''

[Columba]

Perhaps we have experienced a slight shift in the earth's axis accounting for this strange anomaly.

[Columba]

LeM --

You mentioned earlier that larger BZs would be good, more successful. Makes sense to escape the whipsawing around some open number. At some point price is moving away. I have been looking at this matter without too much confidence since most pairs might need a slightly different BZ range perhaps based on the ATR.

I knew a guy who set up a BZ at +/- 25 on each side of the open. A basket of pairs. Worked well for awhile until the daily ranges receded to some smaller number. The daily range of many pairs could argue for the larger zone and leave ample room for a TP of some size. Maybe 25 is too high, though.

I suppose the issue here is to escape some amount of whipsawing while not establishing the zones at too wide levels. A delicate balance I think. Of course, TRO has sorted out statistically that the 8-10 on each side works pretty well. It seems to be for you!

You have successfully set your BZ to your 0000 (my 1900). I have waited for the Tokyo open another hour later which is not especially convenient for your time zone. It also quiets down the spreads a bit more.

I have tried opening later in my evening on a set and forget basis as I head off to sleep. Mixed results on a small sample. This is really creating a new BZ at a non-traditional time (Einstein, I suppose, only with wider zones). The 2100 hour candle, and often 2200 also, on Asian and Pacific pairs tends to be a decent mover. I like the AJ on this. Big spread on the GA, but it moves. Of course, the GN is more of the same with an even higher spread. If you get the direction right you can absorb the spread here (usually).

Have you formed any tentative conclusions yet . . . I'm afraid my approach is more trial and error than rigorous analysis.

Just wondering where you might be on this.

[TheRumpledOne]

You mentioned earlier that larger BZs would be good, more successful. Makes sense to escape the whipsawing around some open number. At some point price is moving away. I have been looking at this matter without too much confidence since most pairs might need a slightly different BZ range perhaps based on the ATR.

No. Buy Zone is based on frequency distribution of High - Open and Open - Low. ATR has nothing to do with it. It is accurate to say that you should run a frequency distribution for each pair. But you will find 8 - 10 pips is usually the "sweet spot". Do NOT expect or even attempt to trade the Buy Zone without experience a loss every now and then. Losses are part of trading otherwise I would have owned the markets long ago...LOL!!

[Columba]

You mentioned earlier that larger BZs would be good, more successful. Makes sense to escape the whipsawing around some open number. At some point price is moving away. I have been looking at this matter without too much confidence since most pairs might need a slightly different BZ range perhaps based on the ATR.

No. Buy Zone is based on frequency distribution of High - Open and Open - Low. ATR has nothing to do with it. It is accurate to say that you should run a frequency distribution for each pair. But you will find 8 - 10 pips is usually the "sweet spot". Do NOT expect or even attempt to trade the Buy Zone without experience a loss every now and then. Losses are part of trading otherwise I would have owned the markets long ago...LOL!!

OK, I hear the Master's voice. I like the idea of a general, not universal, sweet spot which you have located for the BZs.

Don't worry about the loss deal, I am well able to load up on those across time frames and just about any approach/strategy imaginable. After all, it's not what you trade but how you trade it. For most traders we can surely say, "poorly." Time to rewatch 'Why You Don't Get Better at Trading' vid set.

Thanks for again setting me on the straight and narrow.

C