Its all wrong but its all right Quote:
Originally Posted by TheRumpledOne You it is funny that so many people try to find a way that the Buy Zone won't work. They will spend hours, days, weeks, etc.. trying to prove it doesn't work.
If they would only realize that if they looked for how it could work for them, then they would be on the winning path.
I hear from people on almost a daily basis who are thanking me for showing them the Buy Zone because, for once in their trading careers, they are making money. | Quote:
Originally Posted by Trader333 It is to do with speed of execution which is critical to success of this approach. It takes me less than 0.5 seconds to decide to take a trade, hit the hotkey to enter and get filled. The same is true to exit the trade and when you are taking small profits then every point or pip counts. The commission I pay is less than 1 point in value and so far my trades have lasted a maximum of about 61 seconds. I will see how it progresses over a longer time frame but so far it looks good just like jayjay121 has been saying. I am almost certain that using SB or other non ECN will result in greater slippage, slower fills and as such less profits which for something like this is very costly over a large number of trades.
Paul | Quote:
Originally Posted by Trader333 The reason that BZ works at all is purely due to momentum and the small profit targets. Essentially, if you get a momentum move then it is presumed that this momentum will carry on long enough to reach profit target. This is why I am using an exhaustion measure so that I don't enter when a very short term move is fizzling out and by that I am referring to a 1 minute time frame.
Paul |
Hi Paul
good posts IMO
Good thread and posts, I was going to go on one at length but.................. IMO it works. I have my buy and sell Zones my targets are as per mentioned and...
I check at the end of each month to see if in hindsight it works out as per proper traders method   if not I just check my account and   its got larger, so I just give myself a telling off for not trading proper like other people and carry on
1.5 yrs and counting in profit and it is as Split says worth it why did I go this way
no one on this planet can tell you where the next tick will be NO ONE NO METHOD NO LAW OF PROBABILITY NOTHING, NOT EVEN BACKTESTING NOTHING
There is the right here the right now, so take your best shot based on whats in your own head and manage the downside. Your own head = it can be as simple as a straight line. Sorry LM, your method is fine, good work and if its working for you great I was worried it was not being put across well enough for newbies to understand, I was not attacking you just the way it was explained on your thread, Stops etc anyway........
Good luck all, gone before I go on, and no I will not elaborate further
Your own head   |