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Author Topic: Point Zero Trading  (Read 55381 times)

Offline LFN

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Re: Point Zero Trading
« Reply #15 on: December 19, 2013, 06:51:17 PM »
No, the indicator does not show you arrows where to enter and exit a trade.
Is the TrendFollowingSuite a product which shows exact where to open an order and close the order? Also with money management? In that case it is a complete system and not only an indicator.
But you still have to click the buy and sell buttons and exit the order manually.

Anyone is using TrendFollowingSuite?

I have watched the video and read the site: http://www.pointzero-trading.com/Products/PZTrendFollowingSuite
It does indeed show every trading opportunity as a signal presented on the chart with a number. Then you have to take the action to take the trade. It is written in detail how to place the order. It seems to have almost everything (but of course not beeing an EA).
So...is anyone using this TrendFollowingSuite?
I am interested since there is a lot of positive reviews floating around the net about PZ Trading.

Offline Humble

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Re: Point Zero Trading
« Reply #16 on: December 19, 2013, 07:52:14 PM »
If you Google Wolfe Waves, it will show you how the entries are constructed and the potential target level and stops.

Below is a good page.

http://en.forex-utility.com/strategy/8Volny+Vulfa.htm



Hi, I do understand its not an ea, robot or anything of that sort, it's basically manual entry and exit...what I would like to know if you can share the exit strategy for this?

Offline tradeforce

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Re: Point Zero Trading
« Reply #17 on: December 19, 2013, 08:03:19 PM »
If you Google Wolfe Waves, it will show you how the entries are constructed and the potential target level and stops.

Below is a good page.

http://en.forex-utility.com/strategy/8Volny+Vulfa.htm



Hi, I do understand its not an ea, robot or anything of that sort, it's basically manual entry and exit...what I would like to know if you can share the exit strategy for this?


thanks for the link !!! so you followed the point 1 to point 4 and extend the line to reach TP? you successful with it? I may try it out..at least there is now an entry , stop loss and TP ball park...not just entry rules.

Offline Humble

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Re: Point Zero Trading
« Reply #18 on: December 19, 2013, 08:16:35 PM »
The numbers are not entry signals, they simply give indication of potential entry.. They are independent of the oscillator and PZ bars indicator which you also have to observe.   You have to manually look at the additional indicators when the numbers appear and decide if everything is lining up. If you simply take trades when the numbers appear, this is not the way to use the indicator.

Below is the set-up he gives when a number 1 appears:

#1 The Trend Change
This trading setup is very straigthforward: the trend has changed and a or a is plotted on the chart. Don't try to guess if the price will retrace or not, you can't. Instead of trying to predict the market, use pending orders to take the trade should the price keep moving in the same direction. This trading setup is more reliable if the color of the PZ Bars Indicator has just changed.
Place a buy stop order at the high of the last bar if...
A Blue Circle ❶ appears on the chart
The oscillator confirms and is above the signal line


The bold parts show you that you have to observe the other indicators manually and not just rely on the number 1 appearing.

Why don't you email the vendor and ask him yourself?


You have to remember, PZ Trading sells a lot of indicators and the good reviews are about PZ Trading generally as a vendor.  The indicator you buy has to be right for you and the way you trade.

There is a 7 day money back guarantee so you have nothing to loose by buying and trying it.



It does indeed show every trading opportunity as a signal presented on the chart with a number. Then you have to take the action to take the trade. It is written in detail how to place the order. It seems to have almost everything (but of course not beeing an EA).
So...is anyone using this TrendFollowingSuite?
I am interested since there is a lot of positive reviews floating around the net about PZ Trading.

Offline Kaiser Soze

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Re: Point Zero Trading
« Reply #19 on: December 19, 2013, 08:27:47 PM »
Found this on another forum so maybe he won't be so quick to reply to emails:

you are right CH888 over priced & even the free EAs that are provided its 90% Q i emailed him once & forgot to say "THANK YOU " he was like if you dont say thank you i don't answer emails i said WTF r u serious he thinks he is the S**** well too bad there are better ppl here i guess & by the way he does not answer emails that fast even in the forum forget that i asked a question yet to get an answer but whats funny is I asked him HOW MUCH TO MAKE A CUSTOM EA & boooooommmm guess what i get an answer within 1 hour you see what i mean.


Offline Kaiser Soze

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Re: Point Zero Trading
« Reply #20 on: December 19, 2013, 08:31:12 PM »
Has anyone tried the PZ harmonic indi yet?  From same forum as above:

 "PZ indicators are certainly above average as far as MT4 tools go, but you can tell that most were built on free code from trading forums & merely improved.
Compared to what you can get on Tradestation, Ninja, Sierra, & other better trading platforms, his stuff is way overpriced.
He uses trailing stops & step MA's for trend; nothing original or ground breaking.
The Wolf Waves indie is good, but the harmonic indie is much better."




Offline Humble

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Re: Point Zero Trading
« Reply #21 on: December 19, 2013, 08:34:02 PM »
You can't just trade Wolfe waves when the pattern completes.  You need to find rejection at the pattern completion points and base your entries accordingly.

The indicator from PZ has the option of turning off a strict wolfe waves so you have to be careful when looking at wolfe waves.

I find the time it takes to reach the price target zone can sometimes be too long for me and in the meantime, you can have lots of different swings until it eventually reaches the target zone.  You do have to monitor the trade and be aware of situations where prices will not go to the target zone so you have to be able to take profits early.

It does work and the risk reward for wolfe waves, like many harmonics patterns is very good but you do have to wait for strict waves to appear which can be a very long wait especially if you are trading on the higher time frames..

There are free wolfe wave indicators out there, try them first or better still, google wolfe waves and see if you can spot them on the chart with a naked eye, that is the best way to learn patterns.

thanks for the link !!! so you followed the point 1 to point 4 and extend the line to reach TP? you successful with it? I may try it out..at least there is now an entry , stop loss and TP ball park...not just entry rules.

Offline swordfish

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Re: Point Zero Trading
« Reply #22 on: December 21, 2013, 10:55:25 PM »
Thank you , Humble, for the link. Now I have better understanding of the Wolfe Waves. I read somewhere it is better to couple with divergence for confirmation.  Here was a good setup. High reward:risk.
http://i802.photobucket.com/albums/yy304/fxswordfish/divergencesystem15_zps532e20f9.jpg

Another one:
http://i802.photobucket.com/albums/yy304/fxswordfish/divergencesystem16_zps3456599c.jpg
« Last Edit: December 21, 2013, 11:41:06 PM by swordfish »

Offline Humble

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Re: Point Zero Trading
« Reply #23 on: December 22, 2013, 08:45:10 AM »
My pleasure.

Basically you are looking for any form of confirmation that the trend at point 5 has come to an end or is likely to.  This can be in any way such as divergence, support/resistance levels, price action.  All depends what your experiences are and what you think works.

On the links you sent, on daily charts, it took over a month for those wolfe waves to develop and then another 2 weeks or so to meet targets.  The rewards/risk was almost 6:1 so they would have been great trades.  With this sort of reward to risk, you only have to be right about 20% of the time to be successful in the long-term.  All depends if you have the patients to trade the dailies (unfortunately I do not).

I have tried them on lower time frames where they do work but I have other methods which I prefer to use on these shorter time frames.  My own belief if that wolfe waves work better and give better reward/risk on longer time frames.

You also need to be aware that the rules of drawing wolfe waves has changed over time depending on which site you read.  Some say that the 1-3 line and the 2-4 line must meet at some point in the future to form an ETA point.  If this does not happen, the pattern is not valid.  Some say it does not matter.  It's a personal choice and you must do your own testing to see if wolfe waves that meet the ETA criteria are more successful than those that do not.

Hope this helps.

Thank you , Humble, for the link. Now I have better understanding of the Wolfe Waves. I read somewhere it is better to couple with divergence for confirmation.

Offline tradeforce

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Re: Point Zero Trading
« Reply #24 on: December 22, 2013, 01:43:30 PM »
Humble, thank you for the extensive opinion and me too , don't think I have the patience for the wave system. If I may humbly ak, what system are you using that is effective and profitable, be it the daily down to 15 min. Thanks!

Offline Humble

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Re: Point Zero Trading
« Reply #25 on: December 23, 2013, 11:11:09 AM »
Humble, thank you for the extensive opinion and me too , don't think I have the patience for the wave system. If I may humbly ak, what system are you using that is effective and profitable, be it the daily down to 15 min. Thanks!

Without meaning to high-jack the thread, I will briefly explain my approach.

The middle of this year, I tried to really simplify my trading.  I have no indicators on my charts at all.

As I am not a full-time trader, I trade of the hourly charts where I draw horizontal and diagonal support/resistance lines.  I use price action to determine how prices approach any support and resistance to determine if these support/resistance are likely to hold ie. if prices approach with real momentum, chances are these support and resistance levels will fail.  I have also recently been experimenting with tick and range charts which will hopefully allow me to make better decisions when prices are approaching levels of support/resistance.

I also continuously look at how current prices are moving in relation to making higher highs, lower highs, lower lows, higher lows.I always have an expectation of where I think prices will go given the hh, hl, ll, lh structure.  When my expectation is wrong, I know something has changed so I need to trade accordingly.  You must always have an expectation of where you think prices will go given the current structure.  If prices then do something different, you know something has changed.

As an example, if you see prices have been making higher highs and higher lows, expectations are that prices are heading higher so we should have a new higher high.  Now if prices reverse to test the higher low area and this is done with real momentum (steeper candles to the downside), it's an indication that something has changed.  Either demand has dried up and prices are finding it hard to make a new higher high or that there are powerful sellers who are looking to drive the price lower at these levels.  Whether the bulls or bear wins doesn't matter, what matters is that based upon our reading of the last structure and our expectation, something has changed and we need to trade accordingly.

Below are a few YouTube vids that I have found very very useful - all from the same person - take what you find useful from them.

Nov 13
PA
Order Flow

I don't claim to have a full system in place but the above has really helped me develop a feel for price action and where prices are likely to go next which in my opinion is the most important thing.  My entries/exits seem to be getting a lot better and trades do not seem to go against me the moment I open them.  Nothing I do is original or secret.  Everything I do and use I have found through reading pages on the web and watching many youtube clips.  I have taken what works for my personality and created something that I can work with.

I think trading is very personal and your approach to it has to reflect your personality.  You cannot trade the same system as anyone else as the time frame, approach, risk, may simply not agree with your personality.  The secret (hard work) is to find what works for you and develop something accordingly and not jump from different system to different system.

I think it's important to always be reading and learning even if you have something which works.  You never know if you may find something that you can use in the future or add to your current approach that will make it more robust.

I believe there are no secret indicators or ea's  that will magically give you ideal buy and sell arrows.  Trading is hard work and it has to be worked at and worked at and worked at. 

Hope this helps in even a small way.




« Last Edit: December 23, 2013, 02:51:26 PM by Humble »

Offline tradeforce

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Re: Point Zero Trading
« Reply #26 on: January 01, 2014, 05:23:56 PM »
Thank you humble.

Offline rogelio11

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Re: Point Zero Trading
« Reply #27 on: March 17, 2014, 06:03:02 AM »
did anyone bought their indicators and got good results?

Offline swordfish

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Re: Point Zero Trading
« Reply #28 on: March 17, 2014, 05:07:23 PM »
Looking for confluence with Xtreme Zones. A picture worth a thousand words.


Offline LFN

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Re: Point Zero Trading
« Reply #29 on: March 17, 2014, 05:27:15 PM »
Looking for confluence with Xtreme Zones. A picture worth a thousand words.



Which PZ indicator is this?

 

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