All you need to trade is a horizontal line - TheRumpledOne

Originally Posted by Trader333

What is meant by "Major Moves" ?


Paul

Originally Posted by JTrader

Yes but as noted previously, the long or short entry lines, often act as SnR. So you get your entry trigger, and price advances not much further before reversing to the opposite entry trigger. So yes, price eventually leaves the buyzone in this scenario, but not before it has whipped you back & forth....

Regardless of whether you trade with an ECN or a fixed spread broker offering 1 pip spreads between certain hours like worldspreads, in order to gage the level of success using the BZ, all you need to do is look at a historical 1 minute chart. By doing this you can see how many entries hit the PT before hitting the SL, how many entries advanced some pips but not all the way to the PT b4 hitting the SL etc. These kind of statistics don't lie, as the chart shows where price actually was.....

Originally Posted by TheRumpledOne

People are making money everyday using the Buy Zone.

IT IS THAT SIMPLE.

Oh, and by the way, on paper, BUMBLE BEES CAN'T FLY!

Bumber sticker on car in Sedona, AZ:

"Just because YOU can't hear the angels, doesn't mean I can't"

ROFLMAO!!

Originally Posted by beaubeau

It's true! I am a total dunce in trading matters, and the buy zone makes me pips every day that I have time to trade it!

Originally Posted by bansir

Hi Folks,
Thanks to TRO for sharing this one.

Just a few results and some impressions for anyone thinking of having a bash:

Demo traded Eur/Usd (1 pip spread) on Oanda with 5 min candles.
Horizontal line at open on the hour with zone at +/-3 pips and 6 pip stop-loss.

Pips won/lost Week commencing 4th Feb:

Monday: -5,-7,-5,-2,-6,-3,-6,-3, (ready to quit) +4 (!!!) -4, -10, +4, -5, -8, +3, +1, +6, +3, -6, -7, 6. [ 21 trades, -50 pips ]

Tuesday: -1, -2, -1, +10, +4, +1, -1, -2, +1, +10, +4, +1, 0, +1, -4, 0. [ 16 trades, +21 pips ]

Wednesday: +6, +5, -4, -7, +9. [ 5 trades, +9 pips ]

Thursday: -4, +1, -3, -1, +11, +1, 0, +6. [ 8 trades, +11 pips ]

Friday: +8, +4, +7 [ 3 trades, +19 pips ]

The bad start was due to being whip-sawed and lousy discipline. i must admit, I was bent on giving the thing a good shake up to start off. I should have eased off but I battled on and dug the hole deeper, nearly gave up.
From Wednesday onwards I acquired a bit of a feel for the system and limited trading to 1 hour intervals, sometimes skipping the odd hour. This worked well and actual time spent screen watching was very small; most trades were over quickly, typically about 2 to 7 mins, 15mins max.

Over all, first impressions are good. Features I like:

• if you take just one trade per hour max then you can catch your breath and get your head straight before taking another look
• if your first trade, with hindsight happens to be in bad conditions then there's a whole hour for things to change before you take another look
• There's time to make a few notes between trades.
• You can skip a couple of hours; there's always another opportunity soon
• play tight stops and take profits quickly

Risk reward ratio was a bit weak, best was 6/11
Now I've settled down with it a bit, I'll give it another go next week.

Cheers,
Neil

Originally Posted by JTrader

I take it that on the trades where you baggged +10p +11p etc. was due to price having
skipped on quickly beyond a +6-7p profit target? Or, did you deliberately decide to hold out for more pips to try & recoup more of your heavy losses from previous days?

Cheers.

Originally Posted by bansir

Hi JT,
Yes, it was really due to price skipping. On the slow connection at work it's a bit of a lottery what you can get out with. It's much easier with a decent connection at home.

Just looking at a couple of the higher wins:

5th Feb the price actually moved to offer +16p but because I have a slow response time on the system at work, the closing order executed for +10p as the price pulled back a bit.

6th Feb the +9p win was good and I got filled at the expected level but subsequently the price moved up another +20 odd pips, which I missed. See chart.

7th Feb the slippage due to delay worked in my favour; I tried to close at +6p but got filled at +11p just before a pull back to below entry level.

I have a slight correction to make to the earlier post

Tuesday -1, -2, -1, +10, +4,+1, 0, +1, -4, 0 [10 trades, +8 pips]

Sorry about that, I've corrected it now.

Apologies to TRO; the attached chart has squiggly lines / moving averages but I didn't use them, honest.

Best Regards,
Neil