As simple as possible: 00 level trading | Page 11 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

SIMPLE EA for a simple method needed!! 2 replies

As simple as possible: RENKO M5 trading 75 replies

Trading is this Simple? Finally Explained simple and clearly! 46 replies

Simple Level Trading 1 reply

Trading: As simple as possible, but no simpler - by a real Cityboy 92 replies

Attachments: As simple as possible: 00 level trading
Exit Attachments

As simple as possible: 00 level trading

  • #201
  • Jun 4, 2014 4:12am Jun 4, 2014 4:12am
Quoting msdogan
Should i use this system with bigger spreads or shouldnt ? If yes should i add spread difference to stops or tp's ?

try it out and see what works for you
Sleep less, live fast, as it aint gonna last
  • #202
  • Jun 4, 2014 4:15am Jun 4, 2014 4:15am
Thanks Udine for wonderfull system, I am watching 1 min in one hour candle, Todays trades after one loss i am in Green now..
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.png Size: 65 KB
  • #203
  • Jun 4, 2014 4:16am Jun 4, 2014 4:16am
Quoting jeetvirk
Thanks Udine for wonderfull system, I am watching 1 min in one hour candle, Todays trades after one loss i am in Green now.. {image}

Sleep less, live fast, as it aint gonna last
  • #204
  • Jun 4, 2014 4:18am Jun 4, 2014 4:18am
Quoting Udine
{quote} Show me your chart !!
Here is my screen. No 00 line so far.
Attached Image (click to enlarge)
Click to Enlarge Name: chart.jpg Size: 129 KB
Focus only on what truly matters!
  • #205
  • Jun 4, 2014 4:21am Jun 4, 2014 4:21am
Quoting Ata-Turkoglu
{quote} Here is my screen. No 00 line so far. {image}

yourr missing an indicator on your charts !!!

the Sweetspot indi. that gives the 00 levels !!. You should have noticed when you compare your chart with mine

the indi is in the zipfile
Sleep less, live fast, as it aint gonna last
  • #206
  • Jun 4, 2014 4:21am Jun 4, 2014 4:21am
Hi Mr udine,
i understand that for wheelbarrel it is a trailing stop EA but how do we make sure it work ?
i know we need to set the parameter for trailstop and breakeven at 35,

i understand that WUKAR is also an EA that hides our entry and stoploss?? but how do i activate it ? and know it is working?

sorry for asking so many question
  • #207
  • Jun 4, 2014 4:23am Jun 4, 2014 4:23am
Quoting Udine
{quote} yourr missing an indicator on your charts !!! the Sweetspot indi. that gives the 00 levels !!. You should have noticed when you compare your chart with mine the indi is in the zipfile
Okeedokee.. thanks for your support buddy..

Happy trades and stay green
Focus only on what truly matters!
  • #208
  • Jun 4, 2014 4:25am Jun 4, 2014 4:25am
I don't get any arrows. This is what my chart looks like. Some things do not update either. I have recopied the files to make sure they are correct.
Attached Image (click to enlarge)
Click to Enlarge Name: 130514-1.JPG Size: 89 KB
  • #209
  • Jun 4, 2014 4:25am Jun 4, 2014 4:25am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 16 KB
  • #210
  • Jun 4, 2014 4:26am Jun 4, 2014 4:26am
Quoting tehO
Hi Mr udine, i understand that for wheelbarrel it is a trailing stop EA but how do we make sure it work ? i know we need to set the parameter for trailstop and breakeven at 35, i understand that WUKAR is also an EA that hides our entry and stoploss?? but how do i activate it ? and know it is working? sorry for asking so many question

how do you know it works??

open a trade on a demo account and see what happens...

learn to use the material given to you !!

be professional, treat it like a business ...
Sleep less, live fast, as it aint gonna last
  • #211
  • Jun 4, 2014 4:26am Jun 4, 2014 4:26am
Quoting geoffhi
I don't get any arrows. This is what my chart looks like. Some things do not update either. I have recopied the files to make sure they are correct. {image}
missing the sweetspot indi on your chart !!
Sleep less, live fast, as it aint gonna last
  • #212
  • Jun 4, 2014 4:28am Jun 4, 2014 4:28am
Hi Udine,

Keep up the good work! Thank you very much for this beautiful system.

I'd like to ask two questions;
1. I now use a fixed TP of 5. Well, I understand that the wheelbarrel trailing EA can possible improve the number of pips in comparison to a fixed TP. You mentioned a few pages ago that you use the value of 35 for this EA. Does this mean 35 pips or 3.5 pip? Although 3.5 pips sounds more logical for your strategy I wanted to be sure.
2. When the following situation occurs; you take a buy position @ 171.900 and close the trade @ 171.950. Subsequently, the rate remains around this price for the rest of the hour. The next hour, you look for an opportunity to take another trade. Do you place a pending trade above or below the market price? So again @ 171.900 or @ 172.000?

Thanks in advance.

Best regards,

Frietzak
  • #213
  • Jun 4, 2014 4:33am Jun 4, 2014 4:33am
Quoting frietzak
Hi Udine, Keep up the good work! Thank you very much for this beautiful system. I'd like to ask two questions; 1. I now use a fixed TP of 5. Well, I understand that the wheelbarrel trailing EA can possible improve the number of pips in comparison to a fixed TP. You mentioned a few pages ago that you use the value of 35 for this EA. Does this mean 35 pips or 3.5 pip? Although 3.5 pips sounds more logical for your strategy I wanted to be sure. 2. When the following situation occurs; you take a buy position @ 171.900 and close the trade @ 171.950....

Goedemiddag Frietzak,

A1. 3.5 pips
A2. if its hoovering around 171.950... next trade can only be a possible long at 172.000

Stay green

Udine
Sleep less, live fast, as it aint gonna last
  • #214
  • Jun 4, 2014 4:34am Jun 4, 2014 4:34am
Quoting jeetvirk
Thanks Udine for wonderfull system, I am watching 1 min in one hour candle, Todays trades after one loss i am in Green now.. {image}
I think you don't understand the system buddy.
You HAVE TO ENTER AT 00 level (NOT 55 or anything else).
Trade Safe !
  • #215
  • Jun 4, 2014 4:36am Jun 4, 2014 4:36am
Quoting Udine
{quote} Whatfx, Sure the WUKAR and Wheelbarrel are both EA's. you just have to check the trades manually very closely It is basically trading 00 levels when D1 and H1 color are the same, nothing new under the sun

say my daily candle opens at 00.00 midnight. the next morning at 8:00 am , its london open. now between 00.00 and 8:00 am, the price may have gone above or below the daily open several times. so how do you decide which way the price is from the daily open ?


is it where the price is during london open compared to the daily open price ? thats the daily direction ?

say, at 8:00 am london open, i see the price is below the daily open (daily open was at 00;00 am), so we look for shorts. we then wait and see which way the 8:00 am 1 hr candle is heading. say within 5 mins we see that candle is red i.e. heading south. do we then immediately enter a pending short at the next 00 level ?

but, by the time it reaches the 00 level, the 1 hr candle might have changed colour from red to green several times, so how do you decide if the 1 hr candle heading the daily candle way ? if the 1 hr candle within 5 mins of its opening is red, then it changes to green , do you then delete the pending short order ?

once you have entered a trade , do you leave it running until either the SL or TP is hit. ? how many trades within the 1 hr candle are you allowed to take at 00 levels ?

is it just 00 levels you use, what about 0 levels ? say 12850 ?


for the 1 hr candle , how long do you wait to decide if it will be red or green ?

  • #216
  • Jun 4, 2014 4:38am Jun 4, 2014 4:38am
Quoting Goodgame42
{quote} I think you don't understand the system buddy. You HAVE TO ENTER AT 00 level (NOT 55 or anything else).
very good remark !!
Sleep less, live fast, as it aint gonna last
  • #217
  • Jun 4, 2014 4:45am Jun 4, 2014 4:45am
Quoting whatfx
{quote} say my daily candle opens at 00.00 midnight. the next morning at 8:00 am , its london open. now between 00.00 and 8:00 am, the price may have gone above or below the daily open several times. so how do you decide which way the price is from the daily open ? is it where the price is during london open compared to the daily open price ? thats the daily direction ? say, at 8:00 am london open, i see the price is below the daily open (daily open was at 00;00 am), so we look for shorts. we then wait and see which way the 8:00 am 1 hr candle is...

Good question !

I will clear this up with an example..

lets use this GJ chart of this morning

Attached Image


now here the possible set ups

Attached Image


to be continued...
Sleep less, live fast, as it aint gonna last
  • #218
  • Jun 4, 2014 4:46am Jun 4, 2014 4:46am
Quoting Goodgame42
{quote} I think you don't understand the system buddy. You HAVE TO ENTER AT 00 level (NOT 55 or anything else).
Thanks Goodgame for your valuable point. my GBP/JPY trade is best and according to rules.. still learning.
  • #219
  • Jun 4, 2014 4:57am Jun 4, 2014 4:57am
Why a possible long and short set up??

Due to the Daily open line.

Price below the Daily open line means the Daily candle = red
Price above the daily open line means the daily candle = green

for me the moment the price is below the Daily open line, I simply put a pending short order @ 171.600.

simply because if since the open of the new 1H candle the price continues to go down, the 1H candle will be RED !!

in this case the price did not go down, but went up.. to above the Daily open line..means the Daily candle turned Green = only long trades
so a pending long order set @ 171.800

the price kept in a range during that hour and none of teh pending orders were activated... so I let them there for the next hour.

the next hour the LONG pending order was triggered, and reached TP... the short pending order was removed..

that should answer the first part of your question...

the remaining questions:

once you have entered a trade , do you leave it running until either the SL or TP is hit. ? how many trades within the 1 hr candle are you allowed to take at 00 levels ?

I leave it running until SL or TP (or being taken out by Trailstop)

1 entry per 1H candle

is it just 00 levels you use, what about 0 levels ? say 12850 ?

could work as well, but honestly never tested it

for the 1 hr candle , how long do you wait to decide if it will be red or green ?

I dont wait, I look at the chart and set up the pending orders in case it goes in the direction of the D1 color (its a kind of anticipating)

I hope that answered all your questions

Udine
Sleep less, live fast, as it aint gonna last
  • #220
  • Jun 4, 2014 4:57am Jun 4, 2014 4:57am
Quoting Udine
Hi all, I have not been around for a while, and some people requested me how I trade nowadays, so I thought to present you with my “trading method”. BTW: this “so called trading method” is nothing original, I invented nothing new here !!! I post it in a Word doc., as I cannot stain my eyes too much, still having eye problems... cheers and stay green!! Udine {file}
Hi There I am unable to download the file, I Think it is corrupted can you please solve this problem?
118 traders viewing now