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As simple as possible: 00 level trading

  • #241
  • Jun 4, 2014 8:08am Jun 4, 2014 8:08am
Quoting Brapp
{quote} I took it, but it wasn't a loss for me. Plus 5 in my account. The GJ, however, was a loss. Minus 10. Under normal circumstances (no red news), I would not have traded, but I wanted to work on the mechanics of the trades.

show chart please
Sleep less, live fast, as it aint gonna last
  • #242
  • Jun 4, 2014 8:15am Jun 4, 2014 8:15am
Quoting Jhlewis10
Stop loss hit here {image}
Your entry is too late and take a look at this area 1.8050, price rejected many times this level so, wait that the price breaks it and enter at 1.8040 but you don't follow the rule in this case.
Trade safe !
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 75 KB
Trade Safe !
  • #243
  • Jun 4, 2014 8:17am Jun 4, 2014 8:17am
Quoting jackprobe
Hi Udine, Is there any restriction, which pair we may not trade ? Or we can trade any pair, as long as: small spread, big ADR & we are not at the end of ADR level, not at Big news time (1 hour pause), only at London + NewYork time session (GMT 07.00 - 16.00) ? Thanks

basically norestriction, but I stick to the EJ and GJ.

rest is correct.
Sleep less, live fast, as it aint gonna last
  • #244
  • Jun 4, 2014 8:19am Jun 4, 2014 8:19am
Quoting Anusragger
Hi Udine, Hope you can help me. Maybe I'm missing something. I have the xADR_0.2renko indy on my chart. I can see the RmUp etc in the corner. But I can't see the RgH and RgL lines. I did load your template. Are you on build 600?

Goedemiddag Anusragger....
(kon je echt geen andere naam verzinnen ??)

The RgH and RgL are

from the Market Panel Display controller indi

Udine
Sleep less, live fast, as it aint gonna last
  • #245
  • Jun 4, 2014 8:23am Jun 4, 2014 8:23am
My long order just got triggered on GJ @171.90 / TP 171.95 / SL 171.80
  • #246
  • Jun 4, 2014 8:28am Jun 4, 2014 8:28am
Quoting Jeffray
My long order just got triggered on GJ @171.90 / TP 171.95 / SL 171.80
You should be stoped out now !
  • #247
  • Jun 4, 2014 8:31am Jun 4, 2014 8:31am
Quoting Jeffray
My long order just got triggered on GJ @171.90 / TP 171.95 / SL 171.80
SL got hit, correct ??

Those are trades I dont take..

a long like this @ 171.900 going towards a RN (round Number) I dont take. The distance to a RN must be > 10 pips... its in the rules...
Attached Image
Sleep less, live fast, as it aint gonna last
  • #248
  • Jun 4, 2014 8:34am Jun 4, 2014 8:34am
Quoting Udine
{quote} Goedemiddag Anusragger.... (kon je echt geen andere naam verzinnen ??) The RgH and RgL are from the Market Panel Display controller indi Udine
Kon wel, maar vond 'm wel grappig. Verder geen betekenis. Thanks! I turned it on and I can see everything.
  • #249
  • Jun 4, 2014 8:38am Jun 4, 2014 8:38am
Quoting Anusragger
{quote} Kon wel, maar vond 'm wel grappig. Verder geen betekenis. Thanks! I turned it on and I can see everything.
Sleep less, live fast, as it aint gonna last
  • #250
  • Jun 4, 2014 8:40am Jun 4, 2014 8:40am
udline

could you please tell us wich is your broker

i have alpari uk the spread its to much
  • #251
  • Jun 4, 2014 8:42am Jun 4, 2014 8:42am
Quoting Juan007
udline could you please tell us wich is your broker i have alpari uk the spread its to much

Dont think I can mention, but its one from Aussie land
Sleep less, live fast, as it aint gonna last
  • #252
  • Jun 4, 2014 8:43am Jun 4, 2014 8:43am
Quoting Udine
{quote} your entry was too late. Your entry should have been @ 180.700 !!! Then you would have had a winner !!
Thanks, I guess I need to re-read the rules page. After passing one RN wait for next hour candle I assume?
  • #253
  • Jun 4, 2014 8:46am Jun 4, 2014 8:46am
Quoting Jhlewis10
{quote} Thanks, I guess I need to re-read the rules page. After passing one RN wait for next hour candle I assume?
yes
Sleep less, live fast, as it aint gonna last
  • #254
  • Jun 4, 2014 8:51am Jun 4, 2014 8:51am
Quoting msdogan
{quote} You should be stoped out now !
Yeah, got stopped out!
Well, I didn't follow the rules. Fair enough!
Lesson learned

Again, patience and a clear view on it could have saved my account.
For this case Iam happy to test and learn the language of this system on demo
  • #255
  • Jun 4, 2014 9:02am Jun 4, 2014 9:02am
Quoting Jeffray
{quote} Yeah, got stopped out! Well, I didn't follow the rules. Fair enough! Lesson learned Again, patience and a clear view on it could have saved my account. For this case Iam happy to test and learn the language of this system on demo
Stick to demo, until you are consistent....

stick to the rules and close the platform after you reach the 10 pips.
Sleep less, live fast, as it aint gonna last
  • #256
  • Jun 4, 2014 9:03am Jun 4, 2014 9:03am
GJ +5 pips
Attached Image
Everything you can imagine, is real - Pablo Picasso
  • #257
  • Jun 4, 2014 9:06am Jun 4, 2014 9:06am
Quoting Direwolf
GJ +5 pips {image}
adapting the method to your own liking (0 level trading)... good job...
Sleep less, live fast, as it aint gonna last
  • #258
  • Jun 4, 2014 9:07am Jun 4, 2014 9:07am
Quoting Udine
{quote} SL got hit, correct ?? Those are trades I dont take.. a long like this @ 171.900 going towards a RN (round Number) I dont take. The distance to a RN must be > 10 pips... its in the rules... {image}


this needs to be clarified a bit more. what do you mean by a distance to the round number ? if both your daily and hourly candles are in agreement, i cannot see why a pending order at 171.900 cannot be set. its still at 00 level.

i think, whether a trade is successful or not also depends on the broker and charts you are using. and also the spread.

because each brokers daily candle starts at different times. e.g. my alpari uk daily candle opens at 10pm london time. on the dates i stated two posts back, plenty of losses if daily candle open taken from 10pm u.k. time.

also, the EJ loss of 10 pips earlier, it did go in by 5 pips but after taking into account the spread of 1.5 pips the TP would not have been hit. so iam surprised brapp was able to take 5 pips profit. only way he could have done that is enter early and have a spread of less than 1 pips.


2:1 risk reward is not a good way to trade. if you had taken all the trades on EJ or GJ so far today, you will see the 10 pips losses will far outweigh the gains you made. so if you miss the first oppurtunities to take profit and continue trading , it is highly likely your 10 pip losses will pile up. in that sense it is very risky, and depends on luck of the draw as to picking the right trades for profit.

just stating my opinion.

if you guys can make it work for you, then thats fantastic.
  • #259
  • Jun 4, 2014 9:12am Jun 4, 2014 9:12am
Udine,

Thanks for the trade strategy and thread. Looks like you're getting a lot of interest here.

Just a quick question.

Initially you mentioned a TP of 5 with a 10 pip s/l.
Seems though that you're allowing the trade managers to go with a 4 pip BE and a 3.5 trail. Is that accurate or are you still closing out at 5 pips?

Thanks
  • #260
  • Jun 4, 2014 9:17am Jun 4, 2014 9:17am
Quoting whatfx
{quote} this needs to be clarified a bit more. what do you mean by a distance to the round number ? if both your daily and hourly candles are in agreement, i cannot see why a pending order at 171.900 cannot be set. its still at 00 level.

If you take a long at 171.90 trying to take profit at 171.95 your trade may struggle. That big round number of 172.00 has a lot of defenders around it, as I'm sure you know. So getting to 171.95 will be hard.
Same thing taking a short at say 172.10 trying for 172.05

Better to be away from those BRN's
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