All you need to trade is a horizontal line - TheRumpledOne

[jayjay121]

thanks for the ideas, ill look in to them........this is my second live week with the buyzone on the er2 and again today i made money, infact today i made $220 because the market run up alot more past my target..............anyway so far so good, one losing day so far..............up $1680 in two weeks, not bad, that s only on one contract.

ill keep you posted,

jason

 

[TheRumpledOne]

There are certain things a trader must figure out for themselves.

Money management is one of them. You can read all the books in the world about MM but in the heat of the trade do you perform or do you crumble? Do your emotions override your logistics?

You can backtest all you want. But that will NEVER make you a dime. YOU HAVE TO TRADE IN THE MOMENT TO MAKE MONEY.

I run statistics to find out if my entry gives me the OPPORTUNITY to take profit. That's all I want THE OPPORTUNITY.

Thank you for a civilized discussion.

 

[TheRumpledOne]

thanks for the ideas, ill look in to them........this is my second live week with the buyzone on the er2 and again today i made money, infact today i made $220 because the market run up alot more past my target..............anyway so far so good, one losing day so far..............up $1680 in two weeks, not bad, that s only on one contract.

ill keep you posted,

jason

Jtrader, did you see this?

 

[JTrader]

Jtrader, did you see this?

Yes I saw it.

JJ had a good week!

My doubt is that although bz (as with other strats) is capable of good weeks, Overall, with draw-down and spreads/commissions to be accounted for, alongside the whip-sawing non-profit trades back & forth, the bz may not be as effective as you suggest. I'm not saying bz is a loser, more that breaking even might become an achievement!

However, for me to be more conclusive in my opinion of the buyzone i would need to backtest it further on an M1 chart. But my concerns are REAL and well founded. I'm not trying to discredit it, but from the screenshots i have posted so far, the results have been a mixed bag and non-conclusive.

 

[jayjay121]

Yes I saw it.

JJ had a good week!

My doubt is that although bz (as with other strats) is capable of good weeks, Overall, with draw-down and spreads/commissions to be accounted for, alongside the whip-sawing non-profit trades back & forth, the bz may not be as effective as you suggest. I'm not saying bz is a loser, more that breaking even might become an achievement!

However, for me to be more conclusive in my opinion of the buyzone i would need to backtest it further on an M1 chart. But my concerns are REAL and well founded. I'm not trying to discredit it, but from the screenshots i have posted so far, the results have been a mixed bag and non-conclusive.

im with you and do have my concerns too that i just will not keep this up and actually doubt i can but it gives me confidence and real experience live in the markets and i feel comfortable, i feel really good actually so maybe i can now develop other systems too while having this one.............., but i don't believe in back testing this strat as i prefer to test in a simulator like i did, and the bz did just as good in simulator as it's doing now so i just personally like to do my testing on simulator and as you know the ninja sim is the most realistic around. Back testing don't make you money ive found and also gives me too many reason to not trade a system, i know many people say this but i think it's actually true imo.


jason


jason

 

[traderjon]

where you one learn to draw the "horizon line" and learn more about the buy zone?

 

[traderjon]

ALL YOU NEED TO TRADE IS A HORIZONTAL LINE

TRADING IS SIMPLE.

There is an entire industry built around making you think it is complicated.

All you need is a HORIZONTAL LINE on your chart to be a profitable trader.

I bet you doubt me, don't you?

AAPL computer closed at $162.00 today.

Put a HORIZONTAL LINE AT $162.50 , if the price of AAPL moves up to that line, BUY.

Put a HORIZONTAL LINE AT $161.50 , if the price of AAPL moves down to that line, SELL SHORT.

IT IS THAT SIMPLE!!

You can do this with other stocks, currencies, futures, etc.

Oh when to take profits? Where to place stops? Just DON'T BE GREEDY and use COMMON SENSE! Learn some money management.

My BUY ZONE strategy is based on HORIZONTAL LINES. Check it out.. IT'S FREE!

What computation took place for u figure the 162.50 go long and 161.50 short?

 

[rols]

Cry Out Loud

just received this from a fellow trader who occasionally looks in here but never posts
(BTW he is no relation to the JJ or jayjay members here - just coincidence)

liked his sentiments, rather caught the Zeitgeist IMO

How do you tell them?

They sit at their screens for 8 hours a day, waiting for a green bar to form thru the BUY ZONE or a red bar to form thru the SELL ZONE, so they can scalp 3-6 pips (after spread 0-3 pips for most). Gruelling...

They think this is where the action is - 5 min bars, 1 min bars. Rubbish.

It's all Fire & Forget.

Trawl. A blanket of currencies - not just one, or two. Hit the majors full tilt. Hundreds of pips - per day! They wont believe you. Or me...

I set my trades - I have 10 live right now. On all of those pairs that show a specific trend. Some don't.

Fixed stoploss. Fixed target just in case it blows away in my direction while I'm asleep, taking a walk, reading, meditating, shopping, swimming, playing squash - WHATEVER.

The thing is, I come back to my screens a while after pulling the trigger - hours later maybe, and I adjust my stops to 'take up the slack' and lock in some profit, maybe tweak the target - maybe not, who cares? It's ALL about not caring.

Once you get the general direction right it's all plain sailing.

They don't get it....It HAS to be more complex, or difficult -or it simply isn't possible.

Cry out loud....

JJ

 

[JTrader]

just received this from a fellow trader who occasionally looks in here but never posts
(BTW he is no relation to the JJ or jayjay members here - just coincidence)

liked his sentiments, rather caught the Zeitgeist IMO

How do you tell them?

They sit at their screens for 8 hours a day, waiting for a green bar to form thru the BUY ZONE or a red bar to form thru the SELL ZONE, so they can scalp 3-6 pips (after spread 0-3 pips for most). Gruelling...

They think this is where the action is - 5 min bars, 1 min bars. Rubbish.

It's all Fire & Forget.

Trawl. A blanket of currencies - not just one, or two. Hit the majors full tilt. Hundreds of pips - per day! They wont believe you. Or me...

I set my trades - I have 10 live right now. On all of those pairs that show a specific trend. Some don't.

Fixed stoploss. Fixed target just in case it blows away in my direction while I'm asleep, taking a walk, reading, meditating, shopping, swimming, playing squash - WHATEVER.

The thing is, I come back to my screens a while after pulling the trigger - hours later maybe, and I adjust my stops to 'take up the slack' and lock in some profit, maybe tweak the target - maybe not, who cares? It's ALL about not caring.

Once you get the general direction right it's all plain sailing.

They don't get it....It HAS to be more complex, or difficult -or it simply isn't possible.

Cry out loud....

JJ

And your point is :?:

Cheers.

 

[rols]

And your point is :?:

Cheers.

QED

 

[JTrader]

just received this from a fellow trader who occasionally looks in here but never posts
(BTW he is no relation to the JJ or jayjay members here - just coincidence)

liked his sentiments, rather caught the Zeitgeist IMO

How do you tell them?

They sit at their screens for 8 hours a day, waiting for a green bar to form thru the BUY ZONE or a red bar to form thru the SELL ZONE, so they can scalp 3-6 pips (after spread 0-3 pips for most). Gruelling...

They think this is where the action is - 5 min bars, 1 min bars. Rubbish.

It's all Fire & Forget.

Trawl. A blanket of currencies - not just one, or two. Hit the majors full tilt. Hundreds of pips - per day! They wont believe you. Or me...

I set my trades - I have 10 live right now. On all of those pairs that show a specific trend. Some don't.

Fixed stoploss. Fixed target just in case it blows away in my direction while I'm asleep, taking a walk, reading, meditating, shopping, swimming, playing squash - WHATEVER.

The thing is, I come back to my screens a while after pulling the trigger - hours later maybe, and I adjust my stops to 'take up the slack' and lock in some profit, maybe tweak the target - maybe not, who cares? It's ALL about not caring.

Once you get the general direction right it's all plain sailing.

They don't get it....It HAS to be more complex, or difficult -or it simply isn't possible.

Cry out loud....

JJ

Mmmm.
It would be interesting to know how your mate determines "general direction".

 

[rols]

Mmmm.
It would be interesting to know how your mate determines "general direction".

I emailed him back and I suggested he post for himself. Here is the reply and answer to your question. It's just his opinion and everybody has one. Believe me when I say this guy is the dogs.....

Re your suggestion I post on the Forum, I've declined on the basis that I have heard on-line bulletin boards are where losers gather together to feel more comfortable among their own.

On the question of 'general direction.'

Are all the higher TFs showing lower lows and lower highs (or higher highs and higher lows)?

If the higher TFs are bearish, I only take weak/bearish moves in the faster TFs.

If the higher TFs are bullish, I only take strong/bullish moves in the faster TFs.

I set my stops above the previous swing high (on the next higher TF) on a short and below the previous swing low (on the next higher TF) on a Long.

I set my targets at next major Support Resistance and all the better if Fibs confirm, but S&R beats Fibs any old day.


Good trading

JJ

 

[TheRumpledOne]

Once you get the general direction right it's all plain sailing.

So true!

That's where the HORIZONTAL LINES come in.

Price is either moving away from or towards a HORIZONTAL LINE.

My TRO DIGITAL COMPASS tells me if the highs/lows are higher/lower on multiple time frames all in a glance. I don't have to flip through charts.

One of my favorite HORIZONTAL LINES is the Previous Midpoint. I know if price is above or below that line at a glance.

Who would go sailing without a COMPASS? :cheesy:

P.S. In case you are wondering what's a SQUIGGLY doing on my chart. That is a setup for someone else's system.

 

[JTrader]

I emailed him back and I suggested he post for himself. Here is the reply and answer to your question. It's just his opinion and everybody has one. Believe me when I say this guy is the dogs.....

Re your suggestion I post on the Forum, I've declined on the basis that I have heard on-line bulletin boards are where losers gather together to feel more comfortable among their own.

On the question of 'general direction.'

Are all the higher TFs showing lower lows and lower highs (or higher highs and higher lows)?

If the higher TFs are bearish, I only take weak/bearish moves in the faster TFs.

If the higher TFs are bullish, I only take strong/bullish moves in the faster TFs.

I set my stops above the previous swing high (on the next higher TF) on a short and below the previous swing low (on the next higher TF) on a Long.

I set my targets at next major Support Resistance and all the better if Fibs confirm, but S&R beats Fibs any old day.


Good trading

JJ

Thanks Rols.

Fairly do-able then really.

 

[TheRumpledOne]

Re your suggestion I post on the Forum, I've declined on the basis that I have heard on-line bulletin boards are where losers gather together to feel more comfortable among their own.

Funny, this person seems to have a mind of their own yet listens to what someone says about bulletin boards. Surprised they didn't find out for themselves.

 

[rols]

Funny, this person seems to have a mind of their own yet listens to what someone says about bulletin boards. Surprised they didn't find out for themselves.

Some Americans have a problem with irony, I've heard.:cheesy:

 

[TheRumpledOne]

Back to the HORIZONTAL LINE.

Has anyone noticed just how many pips you can make if you simply trade in the direction of price movement when the price ends in 00, 25, 50, 75?

Yesterday the USDJPY crossed 106.00 down and then up (see attached chart)

This is such a simple, yet profitable scalp trade.

 

[RiskManiac]

ALL YOU NEED TO TRADE IS A HORIZONTAL LINE

TRADING IS SIMPLE.

There is an entire industry built around making you think it is complicated.

All you need is a HORIZONTAL LINE on your chart to be a profitable trader.

I bet you doubt me, don't you?

AAPL computer closed at $162.00 today.

Put a HORIZONTAL LINE AT $162.50 , if the price of AAPL moves up to that line, BUY.

Put a HORIZONTAL LINE AT $161.50 , if the price of AAPL moves down to that line, SELL SHORT.

IT IS THAT SIMPLE!!

You can do this with other stocks, currencies, futures, etc.

Oh when to take profits? Where to place stops? Just DON'T BE GREEDY and use COMMON SENSE! Learn some money management.

My BUY ZONE strategy is based on HORIZONTAL LINES. Check it out.. IT'S FREE!

What will happen if the market starts fluctuating between 161.5 - 162.5 ???

or even worse between 161 - 163 ???

where have you put your stop loss orders ??

 

[TheRumpledOne]

What will happen if the market starts fluctuating between 161.5 - 162.5 ???

or even worse between 161 - 163 ???

where have you put your stop loss orders ??

What happens...?

I would make more money!!

I would trade the bounces.

Price either goes up or down... it is simple to tell which way it is going.

Stop Loss is always a maximum of 7 pips from entry.

I usually use a 60 minute chart and trade in the direction of the candle color... SIMPLE!

 

[RiskManiac]

What happens...?

I would make more money!!

I would trade the bounces.

Price either goes up or down... it is simple to tell which way it is going.

Stop Loss is always a maximum of 7 pips from entry.

I usually use a 60 minute chart and trade in the direction of the candle color... SIMPLE!

ok maybe i was not so clear....

the market goes to 163 you receive your buy signal and buy !

unfortunately the market goes straight down and hit your stop loss. But at that time you get also your sell signal so you sell but again the market change direction and move up and hit your stop loss again !!! But at that time you get your buy signal again and....got it ??