TRO BUY ZONE - KEEP IT SIMPLE

[maplegum]

Thanks TRO. OK so for buy zone avoid again session, start in London session. I noticed some days price doesn't come back into the zone but maybe that's ok if most days it does..
I don't trade the NZDUSD it was just an example I pulled from this thread as I am trying to analyse this system, but I can see now the daily range is a lot lower so buy zone triggers would probably be around 4pips?
Is it ok to use 10pips for the GBPUSD ?

[Drewtrades]

I would wait until the London session to trade. Volatility is usually low in the Asian session. So in your example, you would not have taken the first 4 trades.

Also, did you run a frequency distribution for NZDUSD? I doubt the triggers would be at +/- 8 to 10 pips!!

TRO_003.png

Using the chart above, where should you have the buyzone triggers set for NZDUSD?

Hi TRO,
Thank you for all your time taken to help fellow traders, the amount of videos and posts you do is incredible. I'm hoping you can give me some advice.
I've been trading rather unsuccessfully for years. I want to knuckle down and implement the buyzone and take 1 or 2 trades per day to stop my overtrading problem.
Do you recommend i try to take 2pips as some of the traders on here have mentioned or do you recommend aiming for 10 or 20 to get a better risk reward as others have talked about.
I see you are not keen on backtesting, but me being like a yale student keeps spending hours backtesting trying to find the "perfect" strategy /money management. You mention statistics alot but for some of us newbies im not sure how they help just yet.
Any advice be much appreciated.
Thanks again TRO.

[TheRumpledOne]

Learn to take 2 pips. Sometimes you will win and sometimes you will lose. Keep loss size consistent. Every now and then you'll get more than 2 pips because the market will move fast in your favor.

[Drewtrades]

Thanks for your reply TRO. Would 10pip stop loss be too large for 2pip take profit in this case?

[TheRumpledOne]

According to traditional trading education, yes, 10 pip stop loss is too big for a 2 pip take profit.

If you are actively trading, you may have gotten another signal to trade in your original direction. That would cause you to "add to a loser" which is another no-no in traditional trading education.

As a trader, you have to find what puts money into your account.