All you need to trade is a horizontal line - TheRumpledOne

Yes i was also thinking of using the entry lines with my owned customised R:R ratio (max SL of maybe 10 pips & PT of maybe 20 pips, alongside some kind of trailing SL), but to be fair did not look into this in detail.

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

exhaustion measure - interesting. Are you finding that you have found an effective filter (to remove more losers than winners removed) then?

Cheers.

It is too early to know yet, I need to do a lot more of these types of trade before I will know for definite but the results so far have been good. I will update things once I know.


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

Hi Paul,
I've been paper trading BZ on eur/usd (5min) using oanda over the last few days and agree with you regarding speed of execution. When I trade at work through a proxy server, I get lots of delay in execution and hence quite a bit of slippage which makes the system almost unworkable.
At home on direct broadband connection it's much easier to hit the zone with instant execution.

For me, I am now keeping to one trade per hour max otherwise I tend to over-trade.

It's too early to tell if it works for me; This week so far, I'm down (-20pips net) but actually up on the account by £628.05 since I've been tinkering with position size. Over the last 2 days I'm up +19 pips.

Bit of a mixed bag at the moment I guess.

Best Regards,
Neil

Just a quick note for anyone having ago with the BZ;

If the price breaks out in your favour with decent momentum, you may be tempted to let it ride for a few more pips. In this case, *quickly move your stop up tight *, don't allow a loss the chance to register.

Basic stuff, I know but it might help someone out there.

Cheers,
Neil

its basic stuff but well worth mentioning as i do it myself and it works and feels good



jason