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Author Topic: Point Zero Trading  (Read 55382 times)

Offline The_Snowman

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Re: Point Zero Trading
« Reply #60 on: January 06, 2015, 11:57:17 AM »
What is the best time frame to run this thing on?

Whatever you like, depends on your experience, knowledge, risk tolerance, read the website

http://www.pointzero-trading.com/Products/PZDayTrading

I'm using 4H as it seems to catch some long swings, and watch the Daily also, plenty of time for that

Offline The_Snowman

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Re: Point Zero Trading
« Reply #61 on: January 06, 2015, 10:22:45 PM »
This type of trade found over and over; combine the 4H analysis with higher timeframe check, the DAILY
 8)

Offline The_Snowman

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Re: Point Zero Trading
« Reply #62 on: January 06, 2015, 11:04:07 PM »
How can we use this to our advantage; filter by Daily trend using PZ signals

Here is GBP-NZD, highlight the last PZ zone, you can find any Price Action (PA) on the chart as to what you are using now

Moving Averages (MA) converging and crossover

Lower Highs (LH) and Lower Lows (LL)

Round Number (RN) 2.00

Trendline = down

Move to 4H chart

GREAT, we can see retracement, even a long signal - but we want to SELL

Then, a box appears, entry almost the same level as Daily, some crazy PA, much draw down, then goes in main trend direction

Average trade signal (from top left display) 241 pips

Stop Loss is 177, Take Profit at 2:1 is 354 pips

I would take that all day long  :-*


« Last Edit: January 06, 2015, 11:06:21 PM by The_Snowman »

Offline rodneyp

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Re: Point Zero Trading
« Reply #63 on: January 07, 2015, 12:51:30 AM »
I just set it up on a one hour time frame. I will report back shortly.

Offline sienna

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Re: Point Zero Trading
« Reply #64 on: January 07, 2015, 01:55:58 AM »
The Snowman: Your charts are impressive indeed.
I have not used PZ ..watched a video or two. On those charts you posted: How do you know when to take profits? Is it built into the system, somehow?....and where do you place protective stops, when you enter?
thanks

Offline The_Snowman

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Re: Point Zero Trading
« Reply #65 on: January 07, 2015, 08:59:03 AM »
The Snowman: Your charts are impressive indeed.
I have not used PZ ..watched a video or two. On those charts you posted: How do you know when to take profits? Is it built into the system, somehow?....and where do you place protective stops, when you enter?
thanks

You realize that I am just winging it !

This is my research, and looking for feedback here.

Great question - I just place the MT4 Fibo tool on the Close from the candle that the signal appear on, and run it up to the top of that consolidation zone.

Many times there is Forex training / advice / method, you read it before "Put stops at last swing high or low" right?

The PZ indicator posts on the top left the # pips in average winning trade, I set the Fibo to show up to 3 times the stop distance, but suggest Take Profit at 2 times.

See this EUR-USD chart, nobody hold this trade over new year but maybe the setup will appear in future and I will know what to do.

Daily gives signal, my highlight is the blue, it's not from PZ indicator, so I can see this on 4H chart.

Looking for 1st signal on 4H after that, pretty clear on the chart.

Will this continue? Maybe for awhile, or if it reverses, then I do the same but looking for Buy signals, wait and see.

Thanks for your interest  :)

Offline The_Snowman

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Re: Point Zero Trading
« Reply #66 on: January 07, 2015, 09:04:40 AM »
PS for the previous post. PZ Indicator tells the average winning trade to be 117 pips, so some will be a lot less, some a lot more

But as a guide, it OK

On the EUR-USD chart shown, the stop loss would be about 70 (also forgot to mention, you can add 10 or whatever above if that suits you)

And the take profit at 2:1 is then 140 pips - I'll take that all day long

It's with the trend, just watch those news days like this Friday coming I believe  :-\

Offline The_Snowman

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Re: Point Zero Trading
« Reply #67 on: January 07, 2015, 09:21:52 AM »
Missed this signal, I'm asleep after USA opens


Offline sienna

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Re: Point Zero Trading
« Reply #68 on: January 07, 2015, 09:42:25 AM »
Thanks T Snowman, Makes a lot of sense!

Offline J16

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Re: Point Zero Trading
« Reply #69 on: January 07, 2015, 12:47:51 PM »
they also sell EA but do not have fx book live result so ......not taking it



Offline prof8t

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Re: Point Zero Trading
« Reply #70 on: January 07, 2015, 06:45:34 PM »
The Snowman: Your charts are impressive indeed.
I have not used PZ ..watched a video or two. On those charts you posted: How do you know when to take profits? Is it built into the system, somehow?....and where do you place protective stops, when you enter?
thanks

You realize that I am just winging it !

This is my research, and looking for feedback here.

Great question - I just place the MT4 Fibo tool on the Close from the candle that the signal appear on, and run it up to the top of that consolidation zone.

Many times there is Forex training / advice / method, you read it before "Put stops at last swing high or low" right?

The PZ indicator posts on the top left the # pips in average winning trade, I set the Fibo to show up to 3 times the stop distance, but suggest Take Profit at 2 times.

See this EUR-USD chart, nobody hold this trade over new year but maybe the setup will appear in future and I will know what to do.

Daily gives signal, my highlight is the blue, it's not from PZ indicator, so I can see this on 4H chart.

Looking for 1st signal on 4H after that, pretty clear on the chart.

Will this continue? Maybe for awhile, or if it reverses, then I do the same but looking for Buy signals, wait and see.

Thanks for your interest  :)

Nice findings!  Seems to work on all timeframes when looking back through the history on a few pairs.  Will be researching these findings along with you. 

Offline The_Snowman

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Re: Point Zero Trading
« Reply #71 on: January 07, 2015, 07:16:07 PM »
they also sell EA but do not have fx book live result so ......not taking it

Well, you are just too picky  8)

His EA are grid strategy, nothing to do with the Day Trading Indicator we are discussing here; I'm not buying any trading EA either

There is excellent free EA available anyway

Offline J16

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Re: Point Zero Trading
« Reply #72 on: January 07, 2015, 07:24:51 PM »
they also sell EA but do not have fx book live result so ......not taking it

Well, you are just too picky  8)

His EA are grid strategy, nothing to do with the Day Trading Indicator we are discussing here; I'm not buying any trading EA either

There is excellent free EA available anyway
Look carefully, there are different kind of EAs. Only one is grid. Explore the website a bit.



Offline The_Snowman

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Re: Point Zero Trading
« Reply #73 on: January 07, 2015, 07:55:16 PM »
Look carefully, there are different kind of EAs. Only one is grid. Explore the website a bit.

I'm a bit slow, you might have to show me what you are talking about.

This is what I see, and when hover mouse over both Pound Trader and Euro Trader they both claim to be grid trading, so that is 3 grid EA's at least.

I don't find any EA pertaining to this Day Trading indicator that I'm using ???

Offline hanscafe59

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Re: Point Zero Trading
« Reply #74 on: January 07, 2015, 10:49:15 PM »
Hi,
anyone know how to select which currecy to trade. 
Lon/FF: GD/Splitter/plan FW(3pairs)
INA:Lon/Alpari: GD
INA:Lon/Alpari: GD
NYIC: ST
INA: Spider/Fancy/FxSp
Do not give up, KEEP GOING!

 

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