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As simple as possible: 00 level trading

  • #281
  • Jun 4, 2014 11:16am Jun 4, 2014 11:16am
Quoting Udine
{quote} nope dont worry I am NOT TRO !!! I am a simple dutch guy living in Italy.. http://en.wikipedia.org/wiki/Udine Cheers Udine
No worries here. I see you are using TRO's modified indicators and he has posted about 00 trades, using H1 and D1, etc... It is obvious you have read TRO's work.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #282
  • Jun 4, 2014 11:18am Jun 4, 2014 11:18am
Quoting TooSlow
{quote} No worries here. I see you are using TRO's modified indicators and he has posted about 00 trades, using H1 and D1, etc...
True,

I tested it, worked so well ,so thought to put it up here, to share..
As I have found its absolute the simplest way to trade successfully, well for me at least...
Sleep less, live fast, as it aint gonna last
  • #283
  • Jun 4, 2014 11:24am Jun 4, 2014 11:24am
Quoting Udine
{quote} adapting the method to your own liking (0 level trading)... good job...
Can't say I adapted, more like I'm not fully understanding your system yet.
Re-reading from page 1 and picking up a few more things each time

Let's see if I make better entry tomorrow!
Everything you can imagine, is real - Pablo Picasso
  • #284
  • Jun 4, 2014 11:30am Jun 4, 2014 11:30am
Quoting Udine
{quote} True, I tested it, worked so well ,so thought to put it up here, to share.. As I have found its absolute the simplest way to trade successfully, well for me at least...

The plot thickens http://www.forexfactory.com/showthread.php?t=312194
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #285
  • Jun 4, 2014 11:37am Jun 4, 2014 11:37am
Quoting TooSlow
{quote} The plot thickens http://www.forexfactory.com/showthread.php?t=312194

LOL

I was even "ordered" by posters to remove that post, as it was "not allowed" to post indies of TRO....

they kept bothering me by pm, until I contacted the administrators of forexfactory, to remove the post...

But check my profile and see my other thread INVICTUS..

just here sharing, but hey, if it not wished, I just close the thread, no big deal.

I thought of sharing how I trade live now (I trade fulltime), so others could make money as well..

no big deal for me to close the thread...

Cheers

Udine
Sleep less, live fast, as it aint gonna last
  • #286
  • Jun 4, 2014 11:47am Jun 4, 2014 11:47am
OUt of here for today.

Lets see if I should continue tomorrow with the thread...
Sleep less, live fast, as it aint gonna last
  • #287
  • Jun 4, 2014 11:53am Jun 4, 2014 11:53am
Udine don't let a few bad posts drive you away man This thread is the blue meth and you are the Heisenberg!

Just like trading, ignore the bad set up!
Everything you can imagine, is real - Pablo Picasso
  • #288
  • Jun 4, 2014 1:08pm Jun 4, 2014 1:08pm
5 pip TP
10 pip SL
Bull Daily & Hourly bar go Long
Bear Daily & Hourly bar go Short
do not trade news

thanks for sharing I would never think of that

please don't leave us


Quoting Udine
{quote} LOL I was even "ordered" by posters to remove that post, as it was "not allowed" to post indies of TRO.... they kept bothering me by pm, until I contacted the administrators of forexfactory, to remove the post... But check my profile and see my other thread INVICTUS.. just here sharing, but hey, if it not wished, I just close the thread, no big deal. I thought of sharing how I trade live now (I trade fulltime), so others could make money as well.. no big deal for me to close the thread... Cheers Udine
My Best Trade is Next Trade!
  • #289
  • Jun 4, 2014 1:12pm Jun 4, 2014 1:12pm
Love your system Udine!

Dont close the thread this is easy and great trading
Thx for sharing! !!
  • #290
  • Jun 4, 2014 1:57pm Jun 4, 2014 1:57pm
Where I can find rules for the system. Pls see if I got everything on the chart.
Attached Image (click to enlarge)
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  • #291
  • Jun 4, 2014 2:42pm Jun 4, 2014 2:42pm
Thank you for sharing this beautiful system.
Regards.
  • #292
  • Jun 4, 2014 3:03pm Jun 4, 2014 3:03pm
Quoting saleem2514
Where I can find rules for the system. Pls see if I got everything on the chart. {image}

The attached file of the first post .doc
  • #293
  • Jun 4, 2014 3:12pm Jun 4, 2014 3:12pm
Quoting saleem2514
Where I can find rules for the system. Pls see if I got everything on the chart. {image}
Check the Word doc on page 1.
There you can find all rules you need.
  • #294
  • Jun 4, 2014 3:31pm Jun 4, 2014 3:31pm
GOOD STUFF...
  • #295
  • Jun 4, 2014 4:06pm Jun 4, 2014 4:06pm
udine

just remembered a question i forgot to ask previously.

say daily candle is red. i.e. price below the daily open.

after 3 hrs we decide to start trading .

the price is now well below the daily open.

now, waiting for the next 1 hr candle to open. it opens. question is how do you know if its gonna be a red candle or a green candle , you see the candle is still forming and unless the hour is up you wont know if it will end in a green or red candle. and hence you wont know whether to take the trade or not.

at what point do you get to know the direction of the 1hr candle ? do you wait a certain time say 10 mins into the 1 hr candle, then whatever colour the candle is at the time you go with that ? so, in our example if after 10 mins of the 1 hr candle forming , we see it is a green bullish candle then we dont take any trades, as the daily is a red bearish candle. is that correct ?

so the question is how long to wait to see the colour of the 1 hr candle. wait 19 mins, 15 mins, 5 mins etc ? without using any indicators like you are doing....

just by naked observation.
  • #296
  • Jun 4, 2014 4:56pm Jun 4, 2014 4:56pm
Your reward = 2% per trade
Your risk = 4% per trade

What is your max risk % on a daily basis?
Do you know the win % if you adjusted to a 1:1 R/R ratio? Just curious if the way you trade is the only profitable way.

Thank you for sharing.
  • #297
  • Jun 4, 2014 5:01pm Jun 4, 2014 5:01pm
Quoting whatfx
udine just remembered a question i forgot to ask previously. say daily candle is red. i.e. price below the daily open. after 3 hrs we decide to start trading . the price is now well below the daily open. now, waiting for the next 1 hr candle to open. it opens. question is how do you know if its gonna be a red candle or a green candle , you see the candle is still forming and unless the hour is up you wont know if it will end in a green or red candle. and hence you wont know whether to take the trade or not. at what point do you get to know the direction...
I believe you would trade short based on the 3rd hour candle being red at the close and as long as the ADR hasn't been reached. I don't know if he was specific based on a certain percentage of the ADR being reached to cease trading that pair for the day.
  • #298
  • Jun 4, 2014 6:11pm Jun 4, 2014 6:11pm
Quoting whatfx
udine just remembered a question i forgot to ask previously. say daily candle is red. i.e. price below the daily open. after 3 hrs we decide to start trading . the price is now well below the daily open. now, waiting for the next 1 hr candle to open. it opens. question is how do you know if its gonna be a red candle or a green candle , you see the candle is still forming and unless the hour is up you wont know if it will end in a green or red candle. and hence you wont know whether to take the trade or not. at what point do you get to know the direction...
If the daily is red and a new hour H1 candle opens and turns red, then simply trade the next line short. Who knows if the trade will work out or the current H1 candle closes red or green, but at the time of the trade entry it meet the rules. This method is so simple your trying to over complicate it.

Anyone who has read Trading in the Zone, this is a perfect system to try the exercise at the end of the book out with, I tried it out in the past it helped me understand and accept the theory of the book. Your edge in this case is always trading with daily and hour candle
  • #299
  • Jun 4, 2014 6:14pm Jun 4, 2014 6:14pm
Quoting whatfx
udine just remembered a question i forgot to ask previously. say daily candle is red. i.e. price below the daily open. after 3 hrs we decide to start trading . the price is now well below the daily open. now, waiting for the next 1 hr candle to open. it opens. question is how do you know if its gonna be a red candle or a green candle , you see the candle is still forming and unless the hour is up you wont know if it will end in a green or red candle. and hence you wont know whether to take the trade or not. at what point do you get to know the direction...
Whatfx,

You're trading based on the color of the current candle at the time that it crosses your sweetspot or 00. If you're trading short (daily) and a 1hr candle opens, it has to travel lower to reach the next 00, so it would have to be red at that point. Even if it raises a couple of pips and is temporarily green, you could still place your pending at that next 00 down because by the time it gets there the candle will be red.
  • #300
  • Jun 4, 2014 6:23pm Jun 4, 2014 6:23pm
What is the indicator name that displays the daily candle to the far right on the chart? I load everything and choose the template but it isn't there.
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