Trading the middle TZ's | Forex Factory

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Trading the middle TZ's

  • #1
  • First Post: Mar 4, 2015 7:00am Mar 4, 2015 7:00am
Hello,
I want to trade for a living. I can only do this if I can consistently take 10 pips a day for 1year compounding of course. My projections with 10 pips a day starting with $100 for 1year gives me $40,000. This can only happen if i can confidently take 10 pips a day.

Now, I will need the help of all of you. I use xixi's TZ indicator for this purpopse. All credit to him and all the others who contributed to the similarity thread. I only trade in the direction of the middle TZ forming. I use the 1hr TF, but the same principle can be applied to any timeframe.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDH1.png Size: 43 KB
Attached File(s)
File Type: ex4 xixi_tz_1_9.ex4   45 KB | 2,773 downloads
File Type: mq4 xixi_tz_1_9.mq4   21 KB | 3,390 downloads
My help is in the name of the Lord who made heaven and earth.
  • #2
  • Mar 4, 2015 7:06am Mar 4, 2015 7:06am
The middle TZs as shown on the picture above only identifies high momentum opportunities. I am only intrested in how the middle TZs are formed. This principle can be applied to any market.
My help is in the name of the Lord who made heaven and earth.
  • #3
  • Mar 4, 2015 7:14am Mar 4, 2015 7:14am
wish u the best

I do not know much about indicator you use now.
we don't predict, we only ride
  • #4
  • Mar 4, 2015 7:18am Mar 4, 2015 7:18am
Albert wish you good luck! I have the same goal to earn consistent 10 pip a day. I will follow your thread with interest. Thanks!
  • #5
  • Mar 4, 2015 7:35am Mar 4, 2015 7:35am
10 Pips a day consistently is achievable provided you are disciplined enough. That's the toughest part. 10 pips gain few days in a row, inadvertently makes one to push luck or skill until that one big mistake sets you back to square one.

If you can manage to be disciplined to stay away from the charts after you make your 10 pips, then you might have something by the end of a year.

P.S: Suggest you try using Renko charts. Price action is more clear and with the brick size set to 10P you could probably focus on achieving this better.
  • #6
  • Mar 4, 2015 9:17am Mar 4, 2015 9:17am
I Albert
can you explain to me how you trade with this indicator?
you go long when...
you go short when...
  • #7
  • Mar 4, 2015 9:39am Mar 4, 2015 9:39am
This is to illustrate how i trade.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH1.png Size: 45 KB
My help is in the name of the Lord who made heaven and earth.
  • #8
  • Mar 4, 2015 9:49am Mar 4, 2015 9:49am
Now the candle 1 just closed. it was a momentum candle. The middle TZ fomed is occupying empty space, meaning price on the right side has not been there yet. As soon as this happens you take your position and in this case a sell. I only target 10 pips and almost surely it take my profit. So I only trade when a middle TZ occurs.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH1.jpg Size: 136 KB
My help is in the name of the Lord who made heaven and earth.
  • #9
  • Mar 4, 2015 9:59am Mar 4, 2015 9:59am
Quoting Albertdkpllh
Hello, I want to trade for a living. I can only do this if I can consistently take 10 pips a day for 1year compounding of course. My projections with 10 pips a day starting with $100 for 1year gives me $40,000. This can only happen if i can confidently take 10 pips a day. Now, I will need the help of all of you. I use xixi's TZ indicator for this purpopse. All credit to him and all the others who contributed to the similarity thread. I only trade in the direction of the middle TZ forming. I use the 1hr TF, but the same principle can be applied to...



So you wait for price to pass the middle forming TZ by 10 pips before entering back towards it trading into the potential recurrent prices? So you are looking into trading just one of these per day? SO what is your plan of action if the forming TZ or the recurring area above is not returned to in a strong move? Stop loss??

The transient zone basic thread is getting some energy today. Maybe this topic will pick up steam once more...
Attached Image (click to enlarge)
Click to Enlarge Name: 1a.PNG Size: 140 KB
Solutions ONLY!!!
  • #10
  • Mar 4, 2015 10:03am Mar 4, 2015 10:03am
Quoting Albertdkpllh
Now the candle 1 just closed. it was a momentum candle. The middle TZ fomed is occupying empty space, meaning price on the right side has not been there yet. As soon as this happens you take your position and in this case a sell. I only target 10 pips and almost surely it take my profit. So I only trade when a middle TZ occurs. {image}

Ok, I see

Solutions ONLY!!!
  • #11
  • Mar 4, 2015 10:23am Mar 4, 2015 10:23am
I did not trade this. Am done for the day.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCADH1.jpg Size: 137 KB
My help is in the name of the Lord who made heaven and earth.
  • #12
  • Mar 4, 2015 10:28am Mar 4, 2015 10:28am
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCADH1.jpg Size: 139 KB
My help is in the name of the Lord who made heaven and earth.
  • #13
  • Mar 4, 2015 10:42am Mar 4, 2015 10:42am
So whats your plan when price decides not to act right?

You see the m TZ forming with momentum. You enter and price takes you for a spin in the wrong direction. Are you 1:1 with stop loss or what?
Solutions ONLY!!!
  • #14
  • Mar 4, 2015 10:53am Mar 4, 2015 10:53am
Quoting BillYon
So whats your plan when price decides not to act right? You see the m TZ forming with momentum. You enter and price takes you for a spin in the wrong direction. Are you 1:1 with stop loss or what?
Well Bill, Money management is a very tricky thing. I can't say use 1:1 or a fixed stoploss or the last swing high or low. The TZ's may present as turning points in themselves.

I will exit the trade with a reversal M TZ thats for sure. Meaning an oposite entry signals I should be out of the trade.
My help is in the name of the Lord who made heaven and earth.
  • #15
  • Mar 5, 2015 1:31am Mar 5, 2015 1:31am
Good morning
This is my second entry for the day.

Lets see how it ends.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH1.png Size: 40 KB
My help is in the name of the Lord who made heaven and earth.
  • #16
  • Mar 5, 2015 1:46am Mar 5, 2015 1:46am
Your indicators do not show up on screen even though they do show up on the indicator list after applying it to the chart. Does a setting need to be changed for it to show? Thanks!
I love forex. One day it will love me back.
  • #17
  • Mar 5, 2015 2:09am Mar 5, 2015 2:09am
Quoting Albertdkpllh
Good morning This is my second entry for the day. Lets see how it ends. {image}

Can you point out he first entry and result?

Thanks
Solutions ONLY!!!
  • #18
  • Mar 5, 2015 4:02am Mar 5, 2015 4:02am
Bill, you will have to plot it on your chart. H is 6 for the Left and Right. You will see that the MTZ formed on the breakthrough candle but was later cleared by one of the remaining H 6.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURJPYH1.png Size: 41 KB
Click to Enlarge Name: Ghana FX MT4 Terminal.png Size: 8 KB
My help is in the name of the Lord who made heaven and earth.
  • #19
  • Mar 5, 2015 4:11am Mar 5, 2015 4:11am
Quoting Albertdkpllh
Bill, you will have to plot it on your chart. H is 6 for the Left and Right. You will see that the MTZ formed on the breakthrough candle but was later cleared by one of the remaining H 6. {image} {image}
Ok, I see it.

Thanks
Solutions ONLY!!!
  • #20
  • Mar 5, 2015 4:15am Mar 5, 2015 4:15am
Quoting Albertdkpllh
Good morning This is my second entry for the day. Lets see how it ends. {image}
Closed trade for a loss of -23 pips.
My help is in the name of the Lord who made heaven and earth.
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