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Trading the middle TZ's

  • #141
  • Mar 10, 2015 1:41am Mar 10, 2015 1:41am
Quoting jeetvirk
{quote} I think its better to wait for London open.
My help is in the name of the Lord who made heaven and earth.
  • #142
  • Mar 10, 2015 1:44am Mar 10, 2015 1:44am
Quoting pierre23
{quote} Sorry pal but over a 5:1 risk:reward will set you back severely sooner or later. A single loss wipes 5 (or more) days of trading. Some of your other screenshots I've seen have an even worse risk to reward. If your strategy is working, why not tweak it to get more out of the trade to even your risk/reward up. As it stands, not only will a few losses in a row damage the account, but it will screw with your psychology and mindset which is just as important, if not more, when trading (I know I'd be all over the place if I just lost 2 trades...
Yes, listen to brokers advice. Don't forget your tight stops!
  • #143
  • Mar 10, 2015 2:22am Mar 10, 2015 2:22am
Quoting Anusragger
{quote} Yes, listen to brokers advice. Don't forget your tight stops!
Hardly any brokers advice. Every single successful trader will tell you money management is key in trading. This includes having a positive risk to reward ratio (is it not just common sense?).

Anusragger, unfortunately if something so simple as to have a positive risk to reward (AKA sound MONEY MANAGEMENT) is beyond your comprehension, then you'll continue taking one step forward and two steps backwards and eventually blow your account (more like inevitably blow your account).

You'd have to win almost 84% of the time to just to get over the breakeven mark (and that's only at 5:1 R:R). If it were that easy picking 10 pips with a stop of 50+ (with absolutely no losing streaks) then we'd all be laughing our way to the bank.
  • #144
  • Mar 10, 2015 2:34am Mar 10, 2015 2:34am
Quoting pierre23
{quote} Hardly any brokers advice. Every single successful trader will tell you money management is key in trading. This includes having a positive risk to reward ratio (is it not just common sense?). Anusragger, unfortunately if something so simple as to have a positive risk to reward (AKA sound MONEY MANAGEMENT) is beyond your comprehension, then you'll continue taking one step forward and two steps backwards and eventually blow your account (more like inevitably blow your account). You'd have to win almost 84% of the time to just to get over...
Psychology is key. MM is very important. R:R is a BS myth which 95% (according brokers) of traders use. R:R on itself doesn't mean anything does it.
  • #145
  • Mar 10, 2015 2:58am Mar 10, 2015 2:58am
Quoting Anusragger
{quote} Psychology is key. MM is very important. R:R is a BS myth which 95% (according brokers) of traders use. R:R on itself doesn't mean anything does it.
R:R ties in with your edge in trading, along with your psychology and everything else that matters in achieving to trade successfully. I never said that R:R on its on was the the end all be all of the matter.

What I did say was having a R:R of 5:1 (or worse) is a bad idea to begin with. Like I mentioned before, if OP has a tried and working strategy, there shouldn't be any reason why it can't be tweaked to yield a positive risk reward. Not doing so will cause major set backs (or blow the account). With any successful strategy still comes losses, and when those losses are FAR greater then your reward you're not going to get anywhere. One step forward two steps backwards. Don't know a better way to put it. I'm unsure why you're trying to argue otherwise?
  • #146
  • Mar 10, 2015 3:16am Mar 10, 2015 3:16am
Quoting pierre23
{quote} R:R ties in with your edge in trading, along with your psychology and everything else that matters in achieving to trade successfully. I never said that R:R on its on was the the end all be all of the matter. What I did say was having a R:R of 5:1 (or worse) is a bad idea to begin with. Like I mentioned before, if OP has a tried and working strategy, there shouldn't be any reason why it can't be tweaked to yield a positive risk reward. Not doing so will cause major set backs (or blow the account). With any successful strategy still comes...
Okay, I agree with you.
  • #147
  • Mar 10, 2015 3:39am Mar 10, 2015 3:39am
Quoting pierre23
{quote} R:R ties in with your edge in trading, along with your psychology and everything else that matters in achieving to trade successfully. I never said that R:R on its on was the the end all be all of the matter. What I did say was having a R:R of 5:1 (or worse) is a bad idea to begin with. Like I mentioned before, if OP has a tried and working strategy, there shouldn't be any reason why it can't be tweaked to yield a positive risk reward. Not doing so will cause major set backs (or blow the account). With any successful strategy still comes...
It's a matter of time when you get those days where all setups fail, 3-4 losses in a row. Now imagine how you feel after those 3-4 losses with 5:1 RR. Now pulling the trigger is damn hard when you see that you need 20 winning trades to make that up...

This strategy could work, by tweaking the risk reward ratio. Eventually you will end up with 65%-70% win rate on 1:1 RR at best. That's what my experiments with the TZ concept showed me... But maybe you can do better, I could be wrong.
the 3rd wave is the crowd's wave
  • #148
  • Mar 10, 2015 3:53am Mar 10, 2015 3:53am
If this closes this high, it increases my chances for a sure 10 pips.

Happy trading.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYH1.png Size: 61 KB
My help is in the name of the Lord who made heaven and earth.
  • #149
  • Mar 10, 2015 3:55am Mar 10, 2015 3:55am
Potential sell
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 60 KB
My help is in the name of the Lord who made heaven and earth.
  • #150
  • Mar 10, 2015 3:59am Mar 10, 2015 3:59am
Fast trades this morning, eurusd +20 and gbpusd +20, total +40pips target met, waiting for bonus trades, thank you Albertdkpllh, and green pips to other traders.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 6.png Size: 66 KB
Click to Enlarge Name: 7.png Size: 66 KB
Time always comes before price
  • #151
  • Mar 10, 2015 4:00am Mar 10, 2015 4:00am
My results so far for today with 5 m timeframe (H = 6). SL = 5, BE after 3,5 pips profit, Ts after BE = 1

Attached Image (click to enlarge)
Click to Enlarge Name: statement.jpg Size: 29 KB
  • #152
  • Mar 10, 2015 4:02am Mar 10, 2015 4:02am
Quoting Albertdkpllh
Potential sell {image}
Trades taken.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 61 KB
Click to Enlarge Name: EURJPYH1.png Size: 62 KB
My help is in the name of the Lord who made heaven and earth.
  • #153
  • Mar 10, 2015 4:05am Mar 10, 2015 4:05am
I have moved my stop loss
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 61 KB
My help is in the name of the Lord who made heaven and earth.
  • #154
  • Mar 10, 2015 4:06am Mar 10, 2015 4:06am
Quoting Albertdkpllh
{quote} Trades taken. {image} {image}
best wishes, Daily Target has been met at my end.
Time always comes before price
  • #155
  • Mar 10, 2015 4:11am Mar 10, 2015 4:11am
Quoting Anusragger
{quote} Psychology is key. MM is very important. R:R is a BS myth which 95% (according brokers) of traders use. R:R on itself doesn't mean anything does it.
.
My help is in the name of the Lord who made heaven and earth.
  • #156
  • Mar 10, 2015 4:13am Mar 10, 2015 4:13am
Quoting fxrabbi
Fast trades this morning, eurusd +20 and gbpusd +20, total +40pips target met, waiting for bonus trades, thank you Albertdkpllh, and green pips to other traders. {image} {image}
My help is in the name of the Lord who made heaven and earth.
  • #157
  • Mar 10, 2015 4:15am Mar 10, 2015 4:15am
Quoting Traffex
My results so far for today with 5 m timeframe (H = 6). SL = 5, BE after 3,5 pips profit, Ts after BE = 1 {image}
. but is H=6 not too small for the 5TF. Remember the bigger H is the better the trade but you also loose many opportunities.
My help is in the name of the Lord who made heaven and earth.
  • #158
  • Mar 10, 2015 4:20am Mar 10, 2015 4:20am
Quoting juriFX
{quote} It's a matter of time when you get those days where all setups fail, 3-4 losses in a row. Now imagine how you feel after those 3-4 losses with 5:1 RR. Now pulling the trigger is damn hard when you see that you need 20 winning trades to make that up... This strategy could work, by tweaking the risk reward ratio. Eventually you will end up with 65%-70% win rate on 1:1 RR at best. That's what my experiments with the TZ concept showed me... But maybe you can do better, I could be wrong.


Mine as well so far.

A strong sentiment indy may filter strings of losing trades.
Solutions ONLY!!!
  • #159
  • Mar 10, 2015 4:21am Mar 10, 2015 4:21am
Quoting Albertdkpllh
{quote} . but is H=6 not too small for the 5TF. Remember the bigger H is the better the trade but you also loose many opportunities.
I know that, but see the results. I think it works, because my wins are most only some pips (risk 5%). I'll try it still for a while.
  • #160
  • Mar 10, 2015 4:35am Mar 10, 2015 4:35am
EJ done. waiting for GU.
My help is in the name of the Lord who made heaven and earth.
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