TRO DOPC & TRO BUY ZONE

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Patch
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Postby Patch » Mon Mar 12, 2007 9:04 pm

Robert2617

Would you do me a favor and post chart daily of what you are doing and how you are doing. I've got Gridiron on my 5 minute chart.

How far is Athens, GA from Atlanta? What do you think about have a Pirates meeting in Atlanta sometime (SOON) ?

Patch the Pirate
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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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TheRumpledOne
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Postby TheRumpledOne » Tue Mar 13, 2007 4:39 pm

SESSION TIMES ARE DRIVING ME NUTS!










Step One: Create the two sessions. Use the time for your time zone.

Step Two: Download and import the ELD.

Step Three: Download and save the workspace.

TRO_BUYZONE_P alerts you when the price is in the long or short zone.

I can't seem to get the Radar indicators to work with the session times and give me the correct price for the open. I think TS 8.2 has a bug or 2.

TRO_BUYZONE_P ELD and workspace attached.

REMEMBER - download and import the ELD file first!!
Attachments
TRO_BUYZONE_Charts.tsw
(160 KiB) Downloaded 132 times
TRO_BUYZONE_P.ELD
(13.25 KiB) Downloaded 135 times
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Postby whickywhack » Wed Mar 14, 2007 2:38 am

You mentioned see how profitable. Do you have a post that explains how to use this indicator. I searched for it, but it lead me all over the place. What are you looking for when entering for both stocks and Forex?

Thanks,

Whickywhack

TheRumpledOne wrote:
See how profitable the BUY ZONE IS?

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Postby TheRumpledOne » Wed Mar 14, 2007 3:50 am

Yes, I have explained how to use this. Buy in the buy/long zone when candles are green and sell in the short/sell zone when candles are red. It really is that simple. See AirBall's thread.

Read the "MILK THE COWS" thread for more details.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby geff » Wed Mar 14, 2007 11:03 pm

Today
5pm Eastern
BuyZone on the GBP/USD
EFX spread was 4 or 5 pips.

On the chart, I have added the "Spread Zone". (4-5 spread is pretty bad but after commisions + a 2 pip spread is around 4, isn't it?)

I went long in the BuyZone with a Green Candle and it reversed and crossed below the Open (8 pips OTM).

And then went short in the SellZone with a Red Candle and it reversed once more and went above the Open (another 8 pips OTM).

A looser stop could have resulted in a 5 pip win on the short a half hour later but could have lost 25 pips on the long side before heading back up to who knows where...

Are these part of the normal array of winners and losers or am I missing something?

Geff (Jeff in L.A.)

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Patch
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Postby Patch » Thu Mar 15, 2007 2:45 am

Geff

Thanks for posting. Wondering if this was live or demo? Right on the money about spread plus commission, 2 pips plus commission is a bit over 3 pips, it all adds up. On the EFX advanced platform training this evening, I asked Justin who gets the spread and he said the banks. So I guess the banks always want to get paid and so does EFX. With the bucket shop practices of many dealing desk brokers, the brokers tend to milk more from their own clients than from the markets.

What I am wondering is how many pips are you targeting to pull each trade? Did you talk with Airball at the Pirate's Cove? I wonder if the hourly forming candle in a second window, would help you with direction? Also what does the 1 minute chart look like? I think Airball trades off the one minute for short gains in the Dow, looking to make or loss 10 ticks including trading costs.

One last question, looking at the time axis, when I see 1600, is this EDT or PDT or something else?

Again, thanks for your post and screen shot, a great help to me. Ask TRO about this in our PalTalk session in the morning.

Patch the Pirate
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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Postby TheRumpledOne » Thu Mar 15, 2007 3:40 am

5 PM EST is ROLLOVER time... that is the end of the day... of course the spreads are going to be wide... banks going off line.

This is NOT the best time to be entering trades.

London open and NY open better.
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Postby RuGO » Thu Mar 15, 2007 5:12 am

Avery, I noticed that on some platforms your buy zones are listed in session and after session hours. I suppose that to the trained eye, spotting bullish/bearish candle formations would not make a difference on certain chart timeframes, however since as you pointed out ,to most of the world the rollover is at 5 EST, I would ask some members to think on how a 4-hour or 8-hour morning star or evening star candle would look if their rollover time is at 3:58... Just a thought, nothing more!

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Postby geff » Thu Mar 15, 2007 7:42 am

Hi Patch.

They were live trades, looking for 3-5 pips. The "forming" hourly candle and the 5 minute were both the "right" color for each trade at the time.

At the opening of the the first hour of the freshly reset BuyZone, the first time you hit either Buy or Sell Zone, you are UP or DOWN with respect to the Open so the 5 min and the 60 min candle colors are automatically giving you "Go" signals.

Would this mean that the first Buy/Sell Zone Entry of a fresh open is less likely to work out since the candle colors are simply following their lead?

In other words, the candle direction has little or no history, momentum or meaning at that time; You could have a green 5 minute, a green 10 minute and a green 60 minute off the first uptick tick of the new hour!

Avery, what do you make of that?

I had the start of day set for 5pm Eastern (14:00 my time in L.A.) I was on the "rollover" time as a leftover from the $Trillion Strategy. (That does start then, doesn't it?)

Geff

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Postby TheRumpledOne » Thu Mar 15, 2007 8:03 am

$TRILLION candles start at 3:58 PM EST.

At the start of the hour, the 1, 5, 15, 60 are all the same color.
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