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Trading the middle TZ's

  • #101
  • Mar 9, 2015 4:37am Mar 9, 2015 4:37am
Quoting Albertdkpllh
{quote} Yes I use a stop loss. I set mine to the low or high of the latest 8 candles
wouldn't it be more logical to place your stop right behind the zone? Because if price goes there the zone will disappear and wouldn't that mean the window for the trade is closed?
  • #102
  • Mar 9, 2015 4:44am Mar 9, 2015 4:44am
Quoting Albertdkpllh
{quote} EJ +10. waiting for GU
Weldone
Time always comes before price
  • #103
  • Mar 9, 2015 4:54am Mar 9, 2015 4:54am
Quoting Albertdkpllh
Now lets take a look at this pair. I can tell that an MTZ will be formed or not even without the indicator. Assuming the current candle closes well above the line a MTZ will be formed. Thats when i take the buy trade and manage it. The line here is drawn above the high of the latest H (8) candles. Thank you {image}
Noted
Time always comes before price
  • #104
  • Mar 9, 2015 5:07am Mar 9, 2015 5:07am
Quoting Albertdkpllh
One sure trick i look out for is the size of the MTZ formed.
Give us the size or shape for better understanding, thank you.
Time always comes before price
  • #105
  • Mar 9, 2015 5:31am Mar 9, 2015 5:31am
Another +10 pips from both EJ &GU. should be done for the day.
My help is in the name of the Lord who made heaven and earth.
  • #106
  • Mar 9, 2015 8:07am Mar 9, 2015 8:07am
Just took this one, lets see how it goes
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDH1.png Size: 43 KB
My help is in the name of the Lord who made heaven and earth.
  • #107
  • Mar 9, 2015 8:15am Mar 9, 2015 8:15am
Quoting Albertdkpllh
Just took this one, lets see how it goes {image}
Target reached. This is where greed sets in. I hope am actuall done for the day
My help is in the name of the Lord who made heaven and earth.
  • #108
  • Mar 9, 2015 8:23am Mar 9, 2015 8:23am
Quoting Anusragger
{quote} wouldn't it be more logical to place your stop right behind the zone? Because if price goes there the zone will disappear and wouldn't that mean the window for the trade is closed?
The MTZ forming jsut point the direction to which i should trade. The MTZ forming could fail because price could have cleared the zone before it remained permanent. you will definately get a reversal if price went above/below the high/low of the last 8 candles. thats where i will place my stop loss.
My help is in the name of the Lord who made heaven and earth.
  • #109
  • Mar 9, 2015 8:25am Mar 9, 2015 8:25am
Quoting fxrabbi
{quote} Give us the size or shape for better understanding, thank you.
Hi fxrabbi, I like to see a big candle creating a big MTZ, say, 15 pips or more
My help is in the name of the Lord who made heaven and earth.
  • #110
  • Mar 9, 2015 8:32am Mar 9, 2015 8:32am
Quoting Albertdkpllh
Just took this one, lets see how it goes {image}
The risk:reward setting of that setup is hard to sustain. One loser could wipe 5 or more winners...
That's like trading transient & recurrent zone 97% vs 3% (no SL but 97%+ win rate).

I'm wondering how long have you been trading this concept?
the 3rd wave is the crowd's wave
  • #111
  • Mar 9, 2015 8:37am Mar 9, 2015 8:37am
All credit to Basch312, Kprsa and others for the development of the indi. Am adding this indi to to help see the levels for my stop loss. Your stop loss goes on the channel.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDH1.png Size: 59 KB
Attached File(s)
File Type: mq4 %_B_RecurrenceStatisticV4.3_Mod.mq4   70 KB | 711 downloads
File Type: tpl !! MTZ.tpl   224 KB | 691 downloads
My help is in the name of the Lord who made heaven and earth.
  • #112
  • Mar 9, 2015 9:41am Mar 9, 2015 9:41am
hey albert,
thx for sharing this way of trading!

I have one simple question. How "big" is your drawdown/pullback in pips aprox. on every trade to get your 10 pips win?
  • #113
  • Mar 9, 2015 9:46am Mar 9, 2015 9:46am
Quoting Mr.Ma
hey albert, thx for sharing this way of trading! I have one simple question. How "big" is your drawdown/pullback in pips aprox. on every trade to get your 10 pips win?
Approxmately 12 with spread. But you have seen me close some losing trades.
My help is in the name of the Lord who made heaven and earth.
  • #114
  • Mar 9, 2015 9:49am Mar 9, 2015 9:49am
Quoting Albertdkpllh
{quote} Hi fxrabbi, I like to see a big candle creating a big MTZ, say, 15 pips or more
Thanks
Time always comes before price
  • #115
  • Mar 9, 2015 10:53am Mar 9, 2015 10:53am
I see a potential set up. Depends where it close
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH1.png Size: 61 KB
My help is in the name of the Lord who made heaven and earth.
  • #116
  • Mar 9, 2015 10:56am Mar 9, 2015 10:56am
so just to get this one right:
if the price closes above the channel, a MTZ is forming and your are buying into the opening of the next H1 candle with a TP of 10 pips and a SL at the bottom of the channel?!
  • #117
  • Mar 9, 2015 10:59am Mar 9, 2015 10:59am
Quoting Hoffi4201
so just to get this one right: if the price closes above the channel, a MTZ is forming and your are buying into the opening of the next H1 candle with a TP of 10 pips and a SL at the bottom of the channel?!
Yep, then again i hope the zone will be high enough
My help is in the name of the Lord who made heaven and earth.
  • #118
  • Mar 9, 2015 11:00am Mar 9, 2015 11:00am
Quoting Albertdkpllh
{quote} Yep, then again i hope the zone will be high enough
Am not trading it though, am done for the day
My help is in the name of the Lord who made heaven and earth.
  • #119
  • Mar 9, 2015 11:05am Mar 9, 2015 11:05am
Quoting Hoffi4201
so just to get this one right: if the price closes above the channel, a MTZ is forming and your are buying into the opening of the next H1 candle with a TP of 10 pips and a SL at the bottom of the channel?!
I should have taken this last trade for the day. Anyway, I hope you see this would have hit my target real quick.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH1.png Size: 62 KB
My help is in the name of the Lord who made heaven and earth.
  • #120
  • Mar 9, 2015 11:24am Mar 9, 2015 11:24am
I have a question. How do you scan for these? Do you check specific currencies every hour? Do you have an alert? I am trying to follow along but how simple it is, is there a way you can anticipate an entry tz therefore put it in a "watchlist" for closer observation. Thanks!
I love forex. One day it will love me back.
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