All you need to trade is a horizontal line - TheRumpledOne

[JTrader]

Dont be stupid! Everyone knows its 61.8! :clap:

The horizontal line is fine IMO - it provides a price level.
Add a crystal ball - NOW THAT IS A WINNING STRATEGY!

 

[JTrader]

Hi jajay - you say that you trade emini russell2000 & make about $100 per day. Thats one point profit per day on the emini ($100 = 1 point).
How many trades does this usually require?
Thanks.

EDIT:
BTW. This is a serious question. I'm not trying to take the ****, as i rarely do. I realise that the average daily range in ER2 is only about 10 points.

 

[jayjay121]

Fair enough,

to be honsite i was expecting a more aggressive reponse than this (i'm pleased that it wasn't)

if you can make money easier else were why don't you stick at that


belflan

why was you expecting a aggressive response?.............Im not a aggressive person, i just tell it as it is thats all, imo that is the best way to be, cuts out all the bull****.

Belfan i've been where you are now, remember that, I have come on a long journey with myself and trading and right now im more mentally prepared for trading than you realise.

As for sticking with my businesses, well they basically run their selves right now and i will keep them going or sell them one day.............I want to diversify my income, have money coming in from all angles, thats why i can afford to only make $100 a day. Obviously when ready i will up contracts but not yet. The reason i want to do it full time is so i can spend more time with the kids, go on more holidays, travel, i love travelling, you can trade and travel, thats whats so appealling to me. Its the freedom that trading can offer i guess thats why i want it so bad, I don't want to get rich by trading, I would settle for the lifestyle i could have from it. Maybe im dreaming but these are my true reason why i want to trade.


jason

 

[belflan]

Are you saying that it would be better if the line were at a different angle maybe something like 33.3 degrees


Paul

No, no, no Paul your all wrong with that angle

I reveal the prefect angle in my new e- book = angles from angels – how divine intervention helped me make millions

Glen

 

[JTrader]

Finally (as i have no intention to go any further around in circles)

FWIW - having spent a couple of days a few weeks back in TRO's chatroom, i don't disbelieve that the BZ is making money for TRO & a couple of others who i spoke to who were experienced BZ traders. I have no reason to doubt them. One of these had traded ER2 similar to jayjay with success with the BZ for a year & was in his first few days with USDJPY.

However, a fair few of the other dozen or so lurkers seemed to be newbies to the BZ, only in their first days/weeks of trading it, when i asked.

TRO managed to carry the mic & talk while in/placing trades, which is not an easy skill, especially if scalping, dividing attention between a few tasks etc.

Good luck everyone, however you trade!

 

[jayjay121]

Hi jajay - you say that you trade emini russell2000 & make about $100 per day. Thats one point profit per day on the emini ($100 = 1 point).
How many trades does this usually require?
Thanks.

EDIT:
BTW. This is a serious question. I'm not trying to take the ****, as i rarely do. I realise that the average daily range in ER2 is only about 10 points.

normally just one trade, sometimes two to reach my goal, sometimes price just takes off and i stay in on trends........I will stop if i have two losses in a row, so far sticking to this rule it has been the difference..........i go to the gym everyday and do plenty of things including quotations for my business so i don't want to trade all day long and this suits me to be honest. $100 is quite an easy target and usually got it within the first hour of trading.

Look at craig audio's thread on kreslik, his system is different but based on the buyzone.
i don't get bogged down with the buyzones lines, i just use them as a range box and wait for them to break.


jason

 

[jayjay121]

it's not all about the buyzone.........the buyzone just helps me keep it simple and i have a price guide there to help me so i don't get opinionated about direction. I think of it like im running a casino and the casino will lose sometimes but they protect themselves too, im protecting myself from the losses too, but i know when the price takes off in big trends that i will be laughing, so long as i can protect myself ill be ok and win in the long run just like a casino does. You have to be prepared for losses.


All in all my way of trading probably is not too dis similar to yours j trader.



jason

 

[BrainStorm]

This is why you shouldn't be posting jtrader.

The 3 - 4 pips is NOT a random number. It is what the statistics told us.

PLEASE QUIT SPREADING IGNORANCE, JTRADER!

Just wondered how you come up with the numbers? I guess you look for 'if price moves N pips from the close it is likely to go a further M pips X% of the time.

Basically I would like to come up with some numbers for other instruments so am intrested in the process.

Also I wonder whether things are the same when the £ is trading at close to 1:1 as it is 2:1. Actually I would guess its probably intraday volatility that makes a bigger difference to parameters

Thanks alot

 

[TheRumpledOne]

Just wondered how you come up with the numbers? I guess you look for 'if price moves N pips from the close it is likely to go a further M pips X% of the time.

Basically I would like to come up with some numbers for other instruments so am intrested in the process.

Also I wonder whether things are the same when the £ is trading at close to 1:1 as it is 2:1. Actually I would guess its probably intraday volatility that makes a bigger difference to parameters

Thanks alot

Michal Kreslik and I each wrote programs to calculate what happens when price moves X pips from the open.

 

[TheRumpledOne]

Can we PLEASE move the Buy Zone discussions to the BUY ZONE thread?

Thanks.

 

[dbphoenix]

Can we PLEASE move the Buy Zone discussions to the BUY ZONE thread?

Thanks.

You included the "buyzone" in your first post. If you're not happy with the way things turned out, that's not the problem of those who are posting to your threads.

 

[bansir]

Hi Folks,
Eur-Usd BZ results for today 21-feb-08 (Oanda demo)

-6,-6, +14, 0, +7, -6, 0, +6, -6, -6, -6, +19

So 12 trades and +10 pips
The R/R is a little better on the winners; we have 1:1, 1:2, 1:3
I just missed holding for a huge move north on the +6 trade, that would have sorted the week out.
As it is I think we're about 18 pips down on the week.

Cheers,
Neil

 

[belflan]

therumpleone?? were has he gone??

this thread had so much promise

 

[TheRumpledOne]

You included the "buyzone" in your first post. If you're not happy with the way things turned out, that's not the problem of those who are posting to your threads.

You are correct. I mentioned the Buy Zone in the first post.

However, the main topic is still the HORIZONTAL LINE. This thread became more of a Buy Zone debate.

 

[da-net]

However, the main topic is still the HORIZONTAL LINE. This thread became more of a Buy Zone debate.

Hey TRO! How's things?

I really don't think this has become a buyzone debate, but more of an honest and open discussion. If I were in your position I would welcome the discussion and participate more on a positive note to help improve an idea I came up with. Adapting the rules to increase profitability and functionality of it seems like a very natural thing. The trading results posted here is promoting thought, not controversy. Why not join in the discussion and add something that could improve it (the RSI 2 that you promoted on Stockfetcher comes to mind).

Or do you think that people will think less of your ideas, because they were not 100% right? What you develop will never work for 100% of the people 100% of the time. The people on this forum appear to be some of the nicest, well mannered, helping, thinking people on any forum I've been on in awhile.

Now, you can chose to continue your current course or make a positive effort in an attempt to improve your ideas? What will it be?

Hope This Helps!

 

[TheRumpledOne]

All I said was move the Buy Zone discussion to the Buy Zone thread da-net.

 

[JTrader]

I gotta say guys, the buyzone is still working for me on the er2, but i don't back test nor go into details like jtrader does, i just trade it everyday but my own adapted style based on craig audio's thread............yes i have had 5 losing days now since i started but still well ahead.

The whole reason i love this style of trading is because it is not random nor is the markets themselves, no one can or no system can predict the market, not even grey1, not even dbpheonix, not tro, not even jtrader even though these guys seem to know what they are talking about, but it don't mean ****, cos the markets just don't behave the way we behave in life...so backtesting and being a smart **** is not going to make you money in trading, just mo. Im convinced it works and as trader333 discovered it works because you are catching moves in the middle, ones that have not exhausted yet, and are not at their extremes. You are cathing little moves, and by the way it does not have to be all about scalping, i stay in on trends and this is the big difference to the r/r.




try the er2, the volotility on the er2 works best for the buyzone, and no spreads.


jason

What do you mean by no spreads? I'd have thought with this exchange traded product, there would be a Bid - Ask spread of a few ticks maybe?

Also, whats a typical commission rate for trading ER2 (i.e. commission per 1 contract)?

Cheers.

 

[jayjay121]

What do you mean by no spreads? I'd have thought with this exchange traded product, there would be a Bid - Ask spread of a few ticks maybe?

Also, whats a typical commission rate for trading ER2 (i.e. commission per 1 contract)?

Cheers.

no, i use ninja trader and never pay a spread like you do in currencies, of course there is a bid and a ask but there is no spread......I get right in at the live price level using limit orders most of the time, if i do use a market order its never more than 2 ticks but hardly ever use them. I use the ninja dom to do this, it is a brilliant tool and as good as x trader if you ask me.

I pay $4.60 per round turn per contract,

Bansir, why don't you do some testing say a week or two for the parametres of my trading system on the er2? instead of the currencies, see what you think. If you want the parameters they are here kreslik.com - Traders Community :: View topic - Craigaudio's ER2 Buyzone Strategy



jason

 

[bansir]

Bansir, why don't you do some testing say a week or two for the parametres of my trading system on the er2? instead of the currencies, see what you think. If you want the parameters they are here kreslik.com - Traders Community :: View topic - Craigaudio's ER2 Buyzone Strategy


jason

Hi Jayjay,
Thanks for the suggestion. I'll check out the link tomorrow when I get time.
I think I'll just plough on with eur-usd for the time being.

Bit late today; other duties call...
But here's todays results:
-6, -7, -5, -5*, +1, -6**, +7**, -5*, -6, -5*, -2

Thats 11 trades and -39 pips
I seem to have been incapable of taking a profit today; the losses marked with ' * '
all offered +5 or +6 pips at one stage.
The ' ** ' pair offered at least +20 pips each but I let it melt away. Some psychological issues clouding my judgment. I think I was trying to 'make up' for losses earlier in the week and +20 (3R win !) wasn't enough for me.

By the way, I missed one -6 losing trade off yesterdays results so the figures were worse
showing 13 trades and just +4 pips:- sorry about that

Summary for the week:
mon 18/feb 14 trades, -26 p
tue 19/feb 12 trades, -13 p
wed 20/feb 9 trades, +11 p
thu 21/feb 13 trades, +4 p
fri 22/feb 11 trades, -39 p

So -63 pips for the week.

If it's ok with TRO I, I might as well just put next weeks figs here too just to round Feb off, then go over to the buy zone forum for march-yes?. Although I am just using a horizontal line, not the custom indicator thingy.

Best Regards,
Neil

 

[bansir]

Bansir, why don't you do some testing say a week or two for the parametres of my trading system on the er2? instead of the currencies, see what you think. If you want the parameters they are here kreslik.com - Traders Community :: View topic - Craigaudio's ER2 Buyzone Strategy

jason

Hi JayJay,
Just read the opening post by craigaudio, thanks for link. I need to do some back testing.
I expect the parameters have to be reviewed over the long haul as market conditions change, yes?
Craigaudio makes a good point on 'emotional capital', using a mechanical system to remove the psychological factors.
Any recommendations from anyone on the best approach for back testing , I guess I could just use Excel / VB but would it be better to go the MT4 route or is there something more appropriate? I'm leaning towards MT4 at the moment.
Best Regards,
Neil