bansir
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All you need to trade is a horizontal line - TheRumpledOne
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bansir
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Eur-Usd Buy Zone demo trades today
Hi all,
Bit better today.
All long trades above MA(12).
AM
1. Long 2k lots, stopped out -5 pips (2k x -5)
2. Long 2k lots, closed 1k lot for +5 pips (1k x +5)
3. Closed 1k lot for +9 pips (1k x +9)
PM
1. Long 2k lots, stopped out -6 pips (2k x -6)
2. Long 2k lots, closed 1k lot for +7 pips (1k x +7)
3. Stopped out at BE on 1k lot, +0 pips (1k x 0)
4. Long 2k lots, closed 1k lot for +6 pips (1k lot)
5. Closed 1k lot for +8 pips (1k x +8)
So that's +24 pips in 8 trades.
But its just the equiv. of +13pips if you adjust for lot sizes.
ie. Trade 1. a.m. and trade 1. p.m. were worth -10 and -12 pips on 1k lots.
Either way, still hit daily target.
Best Regards,
Neil
Hi all,
Bit better today.
All long trades above MA(12).
AM
1. Long 2k lots, stopped out -5 pips (2k x -5)
2. Long 2k lots, closed 1k lot for +5 pips (1k x +5)
3. Closed 1k lot for +9 pips (1k x +9)
PM
1. Long 2k lots, stopped out -6 pips (2k x -6)
2. Long 2k lots, closed 1k lot for +7 pips (1k x +7)
3. Stopped out at BE on 1k lot, +0 pips (1k x 0)
4. Long 2k lots, closed 1k lot for +6 pips (1k lot)
5. Closed 1k lot for +8 pips (1k x +8)
So that's +24 pips in 8 trades.
But its just the equiv. of +13pips if you adjust for lot sizes.
ie. Trade 1. a.m. and trade 1. p.m. were worth -10 and -12 pips on 1k lots.
Either way, still hit daily target.
Best Regards,
Neil
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bansir
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Eur-Usd Buy Zone Demo trades today
Hi Folks,
Just 2 trades today for +14 pips.
Short 2k lots with 5 pip stop.
Closed 1k for +5 pips, should have been +6 but timed it wrong.
Closed 1k for +9 pips.
Used MA(12) and s/r; the zones provided the entry signal.
Target was the usual +10 to +15 pips for the day.
Cheers,
Neil
Hi Folks,
Just 2 trades today for +14 pips.
Short 2k lots with 5 pip stop.
Closed 1k for +5 pips, should have been +6 but timed it wrong.
Closed 1k for +9 pips.
Used MA(12) and s/r; the zones provided the entry signal.
Target was the usual +10 to +15 pips for the day.
Cheers,
Neil
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bansir
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Hi Folks,
A bit more activity today...
Took 19 trades for +15 pips but adjusting for lot sizes it was really -15 pips :-
10:00 -5 (2k lots), +3(1k lot), +10(1k lot)
11:00 -6(2k), -5(2k), +5(2k)
12:00 +2(1k), -3(1k)
13:00 -5(2k)
14:00 -5(2k), -5(2k), +6(1k), 0(1k), -5(2k), +7(1k), 0(1k)
18:00 -5(2k), +6(1k), +20(1k)
I've been struggling a little with fear of loss preventing me getting into trades and also causing me to ditch winning positions prematurely.
Fear of loss also kept me from taking a good trade at 9:00. If I had taken this I would have been all finished for the day by 10:00 with at least +20 pips.
The 18:00 trades were good though, kept calm and just carried out the plan.
My worst period was 13:00 to 15:00 as the market went a little choppy and I felt my discipline slipping. Gathered myself in again though took a good break and came back later.
Best Regards,
Neil
A bit more activity today...
Took 19 trades for +15 pips but adjusting for lot sizes it was really -15 pips :-
10:00 -5 (2k lots), +3(1k lot), +10(1k lot)
11:00 -6(2k), -5(2k), +5(2k)
12:00 +2(1k), -3(1k)
13:00 -5(2k)
14:00 -5(2k), -5(2k), +6(1k), 0(1k), -5(2k), +7(1k), 0(1k)
18:00 -5(2k), +6(1k), +20(1k)
I've been struggling a little with fear of loss preventing me getting into trades and also causing me to ditch winning positions prematurely.
Fear of loss also kept me from taking a good trade at 9:00. If I had taken this I would have been all finished for the day by 10:00 with at least +20 pips.
The 18:00 trades were good though, kept calm and just carried out the plan.
My worst period was 13:00 to 15:00 as the market went a little choppy and I felt my discipline slipping. Gathered myself in again though took a good break and came back later.
Best Regards,
Neil
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i think you have tested this very fairly even though you have made some adjustments to the original method, i think in my mind any way that the original system is not as great as i first thought and a bit inconsistent. The system im trading on the er2 is different to the results you are getting and alot better and consistent but it has been well adapted and has other specific rules which keep me out of trades.
Maybe tro could just let us know where you are going wrong as i think bansir deserves that much at least for his efforts.
jason
bansir
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Friday BZ's
Hi Jason,
Thanks for your feedback. Glad to know you're still keeping consistency with your ER2 system.
Here's my Buy Zone trades for today:
10:30 +3(1k), -1(1k)
11:30 +5(1k), -1(1k)
12:00 +9(1k), +1(1k)
The first -1 pip loss came within a whisker of turning into a 20+ pip winner.
Here's the chart, have a good weekend all.
Neil
Hi Jason,
Thanks for your feedback. Glad to know you're still keeping consistency with your ER2 system.
Here's my Buy Zone trades for today:
10:30 +3(1k), -1(1k)
11:30 +5(1k), -1(1k)
12:00 +9(1k), +1(1k)
The first -1 pip loss came within a whisker of turning into a 20+ pip winner.
Here's the chart, have a good weekend all.
Neil
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You gotta love The Rumbled One
As he has simplified trading to its essential core. Movement thru price.
Keep it up Avery!
As he has simplified trading to its essential core. Movement thru price.
Keep it up Avery!
bansir
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Buy Zone Demo Trades
Hi Folks,
Today's BZ demo trades on Eur-Usd :
+3(1k), +1(1k), -6(1k) ; This group should have been +6, 0 but I closed the wrong way.
-5(2k), -5(2k), +8(1k), +1(1k)
-5(2k), +7(1k), 0, -5(2k)
+6(1k), 0, -4(2k), +5(1k), +27(1k)
16 trades +4 pips.
Didn't make the target 10 to 15 pips but no major damage done either.
Stuck to my rules very well, just a silly error on the first trade.
The last couple of weeks have not been bad and with the revisions to my rules in place I think it may well be worth an extended demo trial run through April.
The summary for March :
Net Pips = -74
No. Losing trades 119
No. Winning trades 134
No. Neutral trades 2
Total trades 255
Total pips lost -737
total pips won 663
Av. pips per trade won 4.95
Av. pips per trade lost -6.19
Pips per trade -0.29
March 17th and 18th were where all the damage was done.
These 2 days accounted for -113 pips.
I have analysed these days in depth and have noted the following properties in relation to the 17th March trades:
1. This losing day came after 4 consecutive winning days.
2. I took more trades than any other day in March, 38 trades whilst daily average is 13.
3. 13 of the 38 trades were totally outside my rules.
4. These 13 illegal trades accounted for -93 pips in a day which finished down -72 pips.
Why did I start to lose discipline? I think there is a sort of domino effect which occurs.
We are supposed to take each trade in isolation but I know looking back at the 17th that one bad trade was allowed to get me frustrated and I then carried this frustration on into the next trade and with clouded judgment, I duly made another bad trade.
A sort of self destructive, regenerative spiral developed and down I went.
I didn't even realise what was happening at the time.
Here's the sequence:
1. First trade, I set up the zones, on the hour.
2. Price breaks top zone, I go long.
3. Price stalls short of target, I close the trade at +3 pips.
4. Price immediately moves up to where I would have made +8 pips easily.
5. I'm annoyed.
6. I jump back in, chasing the price. (illegal!)
7. Price folds back, taking me out for -8 pips.
8. I'm very annoyed.
9. I set up zones on the next hour.
10. Price collapses quickly through bottom zone, too quick for me to catch.
11. I am now really frustrated and unfit to trade but I don't realise this.
12. Due to 5 and 8 above, I chase the price down.
13. I take another two -8 pip losses due to 12.
14. Anarchy ensues.
I guess all we have is our rules and methods, once these are blown, what's left?
Some dangerous feelings / behavioral patterns to watch out for which warn of potential psychological melt down are:
1. You feel angry or frustrated.
2. You take a trade outside your system or you try to 'bend' your system to justify taking a trade.
3. You stop noticing key facts which the price / TA is telling you.
Really there ought to be an indicator available at the bottom of the chart which goes red when your emotions creep in. Sorry to those who don't like indicators.
I've implemented a bunch of things in order to address the above issues. A couple of extra rules to try to eliminate the majority of the bad trades.
In this respect, today was fairly successful. Let's see how April goes.
I'm afraid what's evolving doesn't take much from TRO's original Buy Zone and whilst I would hardly claim I have a viable system at all, I think it may be a little more bullet proof.
Sorry for long post. Hope the notes may help some T2W 'ers if only to see what not to do.
Best Regards,
Neil
Hi Folks,
Today's BZ demo trades on Eur-Usd :
+3(1k), +1(1k), -6(1k) ; This group should have been +6, 0 but I closed the wrong way.
-5(2k), -5(2k), +8(1k), +1(1k)
-5(2k), +7(1k), 0, -5(2k)
+6(1k), 0, -4(2k), +5(1k), +27(1k)
16 trades +4 pips.
Didn't make the target 10 to 15 pips but no major damage done either.
Stuck to my rules very well, just a silly error on the first trade.
The last couple of weeks have not been bad and with the revisions to my rules in place I think it may well be worth an extended demo trial run through April.
The summary for March :
Net Pips = -74
No. Losing trades 119
No. Winning trades 134
No. Neutral trades 2
Total trades 255
Total pips lost -737
total pips won 663
Av. pips per trade won 4.95
Av. pips per trade lost -6.19
Pips per trade -0.29
March 17th and 18th were where all the damage was done.
These 2 days accounted for -113 pips.
I have analysed these days in depth and have noted the following properties in relation to the 17th March trades:
1. This losing day came after 4 consecutive winning days.
2. I took more trades than any other day in March, 38 trades whilst daily average is 13.
3. 13 of the 38 trades were totally outside my rules.
4. These 13 illegal trades accounted for -93 pips in a day which finished down -72 pips.
Why did I start to lose discipline? I think there is a sort of domino effect which occurs.
We are supposed to take each trade in isolation but I know looking back at the 17th that one bad trade was allowed to get me frustrated and I then carried this frustration on into the next trade and with clouded judgment, I duly made another bad trade.
A sort of self destructive, regenerative spiral developed and down I went.
I didn't even realise what was happening at the time.
Here's the sequence:
1. First trade, I set up the zones, on the hour.
2. Price breaks top zone, I go long.
3. Price stalls short of target, I close the trade at +3 pips.
4. Price immediately moves up to where I would have made +8 pips easily.
5. I'm annoyed.
6. I jump back in, chasing the price. (illegal!)
7. Price folds back, taking me out for -8 pips.
8. I'm very annoyed.
9. I set up zones on the next hour.
10. Price collapses quickly through bottom zone, too quick for me to catch.
11. I am now really frustrated and unfit to trade but I don't realise this.
12. Due to 5 and 8 above, I chase the price down.
13. I take another two -8 pip losses due to 12.
14. Anarchy ensues.
I guess all we have is our rules and methods, once these are blown, what's left?
Some dangerous feelings / behavioral patterns to watch out for which warn of potential psychological melt down are:
1. You feel angry or frustrated.
2. You take a trade outside your system or you try to 'bend' your system to justify taking a trade.
3. You stop noticing key facts which the price / TA is telling you.
Really there ought to be an indicator available at the bottom of the chart which goes red when your emotions creep in. Sorry to those who don't like indicators.
I've implemented a bunch of things in order to address the above issues. A couple of extra rules to try to eliminate the majority of the bad trades.
In this respect, today was fairly successful. Let's see how April goes.
I'm afraid what's evolving doesn't take much from TRO's original Buy Zone and whilst I would hardly claim I have a viable system at all, I think it may be a little more bullet proof.
Sorry for long post. Hope the notes may help some T2W 'ers if only to see what not to do.
Best Regards,
Neil
bansir
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BZ Demo Trades for today
Hi,
Took 14 trades today and came out at 0 pips.
-5(2k), -5(2k), -5(2k), +4(1k), 0(1k)
-5(2k), +6(1k), 0(1k), +5(1k), +15(1k)
+3(1k), 0(1k), +7(1k), 0(1k)
Got off to a poor start but kept discipline very well.
Emotions were still bubbling under at times.
The system seemed to recover from the bad trades eventually.
The +3 trade almost lead to a good +25 pip run; just missed it.
See chart for detail.
Best Regards,
Neil
Hi,
Took 14 trades today and came out at 0 pips.
-5(2k), -5(2k), -5(2k), +4(1k), 0(1k)
-5(2k), +6(1k), 0(1k), +5(1k), +15(1k)
+3(1k), 0(1k), +7(1k), 0(1k)
Got off to a poor start but kept discipline very well.
Emotions were still bubbling under at times.
The system seemed to recover from the bad trades eventually.
The +3 trade almost lead to a good +25 pip run; just missed it.
See chart for detail.
Best Regards,
Neil
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bansir
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wednesday BZ demo trades
Hi Folks,
Treading water at the moment. +1 pip for 19 trades.
Similar pattern to yesterday:
-5(2k), -5(2k),-3(2k)
+2(1k), +5(1k), +19(1k)
+5(1k), +1(1k), -11(1k)
-5(2k), +6(1k), +1(1k)
-8(1k), +6(1k), 0
-5(2k),-5(2k), +8(1k), +23(1k)
poor start-->recovery-->loss-->strong finish
The price swung around the MA quite tightly during the afternoon making good wins difficult.
The strong breakout at from 1.5630 at 17:50 saved the day yielding 31 pips. Cost 10 pips to get on board though.
Chart attached.
Best Regards,
Neil
Hi Folks,
Treading water at the moment. +1 pip for 19 trades.
Similar pattern to yesterday:
-5(2k), -5(2k),-3(2k)
+2(1k), +5(1k), +19(1k)
+5(1k), +1(1k), -11(1k)
-5(2k), +6(1k), +1(1k)
-8(1k), +6(1k), 0
-5(2k),-5(2k), +8(1k), +23(1k)
poor start-->recovery-->loss-->strong finish
The price swung around the MA quite tightly during the afternoon making good wins difficult.
The strong breakout at from 1.5630 at 17:50 saved the day yielding 31 pips. Cost 10 pips to get on board though.
Chart attached.
Best Regards,
Neil
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bansir
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Buy Zone Demo Trades for Thursday 3-Apr-08
Hi,
Similar day to Wed/Thur:
-5(2k), -5(2k), +5(1k), +1(1k)
-5(2k), -5(2k), +6(1k), 0(1k)
+6(1k), 0, -7(2k)
+9(1k), 0(1k), +6(1k), 0(1k)
-5(2k), -5(2k), -5(2k)
+6(1k), +4(1k), +9(1k), +24(1k)
-5(2k), +4(1k), 0(1k)
So 29 trades and -17 pips
Negative pips but the system looks more resiliant; days
like the last 3 would have blown anything from -30 to -50 pips
a piece using original system.
All the Best,
Neil
Hi,
Similar day to Wed/Thur:
-5(2k), -5(2k), +5(1k), +1(1k)
-5(2k), -5(2k), +6(1k), 0(1k)
+6(1k), 0, -7(2k)
+9(1k), 0(1k), +6(1k), 0(1k)
-5(2k), -5(2k), -5(2k)
+6(1k), +4(1k), +9(1k), +24(1k)
-5(2k), +4(1k), 0(1k)
So 29 trades and -17 pips
Negative pips but the system looks more resiliant; days
like the last 3 would have blown anything from -30 to -50 pips
a piece using original system.
All the Best,
Neil
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rols
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Hi Neil
29 trades!
It's not a blooming fruit machine!
I fear for the future of this system.
"All you need to trade is a bottomless pit of funds" would perhaps suit better.
Because this is what will happen with real money.
There's nothing that pleases an FX broker than to see somebody taking 29 trades in a day. He can't wait to get his hands on granny's inheritance.
Do these stats include the spread?
You would be far better off on hourly charts IMO
Use your horizontal lines by all means
many of us do
but;
wait for the retrace and retest of said line
This will save you muchos pips.
I promise you.
All the best
Rols
bansir
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Hi Rols,
Thanks for taking the time to comment, much appreciated.
The stats include spreads.
I started on Oanda demo with TRO's rules 2 months ago and as predicted by many folks, failed to come up with any decent returns.
I have tweaked things so much now that I hesitate to call it Buy Zone anymore.
I have just made one major adjustment to the strategy and I want to see how it pans out next week.
However, taking your observations of my over trading into account here's what I'm going to do.
Next week I'm going to carry on with the system as is but the following week I will drop the Buy Zones altogether and just use S/R as you suggest.
I will also limit my trading to take just retrace and retest opportunities as you suggest.
That should give the fruit machine a welcome break
Many thanks for your input.
Best Regards,
Neil
Hi Rols,
Thanks for taking the time to comment, much appreciated.
The stats include spreads.
I started on Oanda demo with TRO's rules 2 months ago and as predicted by many folks, failed to come up with any decent returns.
I have tweaked things so much now that I hesitate to call it Buy Zone anymore.
I have just made one major adjustment to the strategy and I want to see how it pans out next week.
However, taking your observations of my over trading into account here's what I'm going to do.
Next week I'm going to carry on with the system as is but the following week I will drop the Buy Zones altogether and just use S/R as you suggest.
I will also limit my trading to take just retrace and retest opportunities as you suggest.
That should give the fruit machine a welcome break
Many thanks for your input.
Best Regards,
Neil
neil,
you have put a lot of work into this
i would think it would only be fair if the thread starter came back to give you some help if he/she is worth their salt
cheers and good luck
belflan
bansir
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Hi belflan,
Thanks for your response.
I guess It can feel like work sometimes when you're tired and you still have those charts and notes to write up.
It's quite an interesting process really. I've always enjoyed experimenting with stuff. I'm not great at original ideas but I do like pulling things apart and finding out what makes them tick.
It would be nice to see Avery (TRO) drop by. To be fair, he has come by and warned against my over trading once or twice, along with a few dozen others.
T2W really is a great place to learn; loads of top support and expert views available, fantastic!
I think trading is a great way of learning about yourself too.
Ah well, see you further down the log...
Best Regards,
Neil
TheRumpledOne
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You want me to drop by?
Only a few really use what I teach. Those people make money. I have a FREE Chat | Chat Rooms | Paltalk called the TWO PERCENT CLUB. You can go there during market hours and ask about trades in real time.
Only a few really use what I teach. Those people make money. I have a FREE Chat | Chat Rooms | Paltalk called the TWO PERCENT CLUB. You can go there during market hours and ask about trades in real time.
bansir
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Hi TRO,
I can't get your buy zone strategy to work. My bumble bee is just spinning around on it's back
Good luck though to anyone who is having success with it.
I used the parameters you suggest in your free strategy download document. I have seen some winning runs but I logged -43 pips net for Feb and -74 pips net for March.
I demo traded Eur-Usd (5min) on Oanda with 0.9 pip spread.
I used your suggested set up parameters using the hourly open price for the horizontal line and setting zones at +/-3 .
I used TP of 6 pips and SL of 6 pips.
I stuck to your rules as tightly as possible through all of Feb and most of March. On 20th of March I started winning but only after deviating from your system.
Thanks for sharing your strategy anyway; I have learned a lot from it.
I will have a look in at the 2 percent club, thanks for the link.
Best Regards,
Neil
Last edited:
bansir
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bansir
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Tuesdays Demo Trades Oanda, Eur-Usd
Hi Folks,
Not a good pips day, got off to a bad start.
-10, -10, -10
-10, -10, -10
+12, +1, +6, +19
-10, -12, -10, -10
-10, -10, +4, 0
+4, 0, +7, +8
My entries were by the rules so didn't feel panic or anything
bad on the psychological side.
Only slip of discipline was not taking a break after losing bursts of three.
I did manage a couple of decent entries along the way.
On the chart, it looks like trading around a flat MA is asking for trouble.
Anyway, -37 pips and 22 trades.
Best Regards,
Neil
Hi Folks,
Not a good pips day, got off to a bad start.
-10, -10, -10
-10, -10, -10
+12, +1, +6, +19
-10, -12, -10, -10
-10, -10, +4, 0
+4, 0, +7, +8
My entries were by the rules so didn't feel panic or anything
bad on the psychological side.
Only slip of discipline was not taking a break after losing bursts of three.
I did manage a couple of decent entries along the way.
On the chart, it looks like trading around a flat MA is asking for trouble.
Anyway, -37 pips and 22 trades.
Best Regards,
Neil
