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As simple as possible: 00 level trading

  • #721
  • Jun 6, 2014 8:52am Jun 6, 2014 8:52am
Quoting Udine
{quote} ok lets grab this things at the horns.. Get ready for a long story As so many people say they want to live of forex and trade fulltime.. First of all you must see forex as a start not a finish Why do I say that... Forex profits can build your future... - pay off all your debts - live of the forex earnings - invest forex profits into passive income streams.. but the question is... how to start all that ?? suppose you have been demo trading a system (any system for that matter) and you consistently make 1 % a day.. day in day out... In the...
ALERT TO ALL NEWBIES!!

Read this post everyday before you go to trade and make sure you read it twice.....this is great and very true advise Udine ,i have similar plan and now with your great strategy it will be even easier to achieve this!

Thank you!
  • #722
  • Jun 6, 2014 8:55am Jun 6, 2014 8:55am
Quoting Udine
{quote} start at page 1 post 1 !!!
I did calculations and with a 75% winning percentage and a 10 pip stop loss and 5 pip take profit that comes out to even..
  • #723
  • Jun 6, 2014 8:58am Jun 6, 2014 8:58am
Quoting Ata-Turkoglu
{quote} Zee germans are comiiinnggg
Hier ist noch einer. Ich wünsche allen schöne Pfingsten und konstante Gewinne.
  • #724
  • Jun 6, 2014 9:01am Jun 6, 2014 9:01am
Quoting Zokynho
{quote} Hy Blackfeet, Udine already explained about this earlier in thread.... ADR is indicator which measures average currency move at specific day...can gives us a clue how currency pairs move at specific periods (days)...So in our case pairs which have higher ADR number on average tend to have stronger moves than pairs that have lower! (our case is 100) If you see that ADR is reached potential value it can give you attention to stay out of that pairs as this pair may stop move further that day! Hope it helps! Regards!
Hi, Zokynho
You're very kind trying to help me... but I didn't ask Why . I asked for the "maths" !

For instance at the moment for EJ,
I see : RgH = 140.016 & RgL = 139.284 How is this computed ?
I see RmUp =49 RmDn = 64 T = 58 How is this computed ?
I see Y (yesterday) = 131 I presume ADR(25) ?

I know as Udine's #89 states that : "Adr is calculated with period 5 & 25" ... so I'm waiting for TWO values but I get 4 values ???)
I see ADR = 86 5d= 76 10d = 66 20d = 70 One more (& last but not least) time : How is this calculated?

How are linked (which) ADR's value with RgH/RgL ? with RmUp/RmDn/T ?

That's all. I throughly understand that the sustem needs Space, that is ADR, to generate "pushes".

Regards

BBF
BigBlackfeet Always on the(forex) war path !
  • #725
  • Jun 6, 2014 9:01am Jun 6, 2014 9:01am
Quoting Traffex
{quote} Hier ist noch einer. Ich wünsche allen schöne Pfingsten und konstante Gewinne.
Hier ist auch noch einer
  • #726
  • Jun 6, 2014 9:02am Jun 6, 2014 9:02am
Quoting justin7
{quote} I did calculations and with a 75% winning percentage and a 10 pip stop loss and 5 pip take profit that comes out to even..

Well your calculations are wrong fortunately!! Try again!

Regards!
  • #727
  • Jun 6, 2014 9:02am Jun 6, 2014 9:02am
Quoting justin7
{quote} I did calculations and with a 75% winning percentage and a 10 pip stop loss and 5 pip take profit that comes out to even..

adjust to your liking, I stick to my rules. My account confirms I'm on the right track.

Cheers

Udine
Sleep less, live fast, as it aint gonna last
  • #728
  • Jun 6, 2014 9:04am Jun 6, 2014 9:04am
Quoting justin7
{quote} I did calculations and with a 75% winning percentage and a 10 pip stop loss and 5 pip take profit that comes out to even..
then you mada a mistake

75% winner means 3 out of 4 trades

3 x 5 pip = 15 pip
1 x 10 pip sl = -10 pip

Dong Dong... 15 pip win minus 10 pip sl = +5 Pip

pretty simple math
  • #729
  • Jun 6, 2014 9:04am Jun 6, 2014 9:04am
Quoting justin7
{quote} I did calculations and with a 75% winning percentage and a 10 pip stop loss and 5 pip take profit that comes out to even..
75% means 3 trades out of 4 win. So +15Pips-10Pips=5Pips profit. Not a rocket science calculation.
Those who know don't talk. Those who talk don't know.
  • #730
  • Jun 6, 2014 9:04am Jun 6, 2014 9:04am
Quoting Udine
{quote} adjust to your liking, I stick to my rules. My account confirms I'm on the right track. Cheers Udine
why so defensive? that's only because your broker gives you very low spreads. it's impossible for anyone else with a normal broker with normal 1 pip spreads to realistically make this work with a 75% winning percentage and a 2:1 risk to reward
  • #731
  • Jun 6, 2014 9:05am Jun 6, 2014 9:05am
Quoting Jeffray
{quote} then you mada a mistake 75% winner means 3 out of 4 trades 3 x 5 pip = 15 pip 1 x 10 pip sl = -10 pip Dong Dong... 15 pip win minus 10 pip sl = +5 Pip pretty simple math
minus spreads and commissions? cmon
  • #732
  • Jun 6, 2014 9:06am Jun 6, 2014 9:06am
Quoting Zokynho
{quote} Well your calculations are wrong fortunately!! Try again! Regards!
lets say 100 trades

5 pips x 75 = 375 profit

minus

10 pips x 25 = 250

--------------------------------

left with 125 profit

minus atleast 1 pip for spread over the 100 trades..

left with 25 if that.
  • #733
  • Jun 6, 2014 9:08am Jun 6, 2014 9:08am
Quoting BLACKFEET
{quote} Hi, Zokynho You're very kind trying to help me... but I didn't ask Why . I asked for the "maths" ! For instance at the moment for EJ, I see : RgH = 140.016 & RgL = 139.284 How is this computed ? I see RmUp =49 RmDn = 64 T = 58 How is this computed ? I see Y (yesterday) = 131 I presume ADR(25) ? I know as Udine's #89 states that : "Adr is calculated with period 5 & 25" ... so I'm waiting for TWO values but I get 4 values ???) I see ADR = 86 5d= 76 10d = 66 20d = 70 One more (& last but not least) time : How is this calculated? How are linked...

open the editor and look in the code, its all there...
Sleep less, live fast, as it aint gonna last
  • #734
  • Jun 6, 2014 9:11am Jun 6, 2014 9:11am
Quoting justin7
{quote} minus spreads and commissions? cmon

its clear you have not read the whole thread..

it is mentioned that each has to adjust for his own broker..

start testing it and not theorizing (is that english ??) about it.. Soon enough you will find out it works or not

cheers.

Udine
Sleep less, live fast, as it aint gonna last
  • #735
  • Jun 6, 2014 9:11am Jun 6, 2014 9:11am
Quoting BLACKFEET
{quote} Hi, Zokynho You're very kind trying to help me... but I didn't ask Why . I asked for the "maths" ! For instance at the moment for EJ, I see : RgH = 140.016 & RgL = 139.284 How is this computed ? I see RmUp =49 RmDn = 64 T = 58 How is this computed ? I see Y (yesterday) = 131 I presume ADR(25) ? I know as Udine's #89 states that : "Adr is calculated with period 5 & 25" ... so I'm waiting for TWO values but I get 4 values ???) I see ADR = 86 5d= 76 10d = 66 20d = 70 One more (& last but not least) time : How is this calculated? How are linked...
Aha ok, sorry BF for misunderstood your question,sometimes strugling with my english!

Regards!
  • #736
  • Jun 6, 2014 9:15am Jun 6, 2014 9:15am
Quoting justin7
{quote} lets say 100 trades 5 pips x 75 = 375 profit minus 10 pips x 25 = 250 -------------------------------- left with 125 profit minus atleast 1 pip for spread over the 100 trades.. left with 25 if that.


But why start with 375?

You start with 5 x 100 = 500 (total trades taken)
and subtract 5 x 25 = 125 (trades lost)

so total = 375

Not 125 lol
  • #737
  • Jun 6, 2014 9:15am Jun 6, 2014 9:15am
Quoting Udine
{quote} its clear you have not read the whole thread.. it is mentioned that each has to adjust for his own broker.. start testing it and not theorizing (is that english ??) about it.. Soon enough you will find out it works or not cheers. Udine
lol not having a spread or commissions when your take profit is only 5 pips makes a big difference
  • #738
  • Jun 6, 2014 9:17am Jun 6, 2014 9:17am
Quoting fxdaytrader_
{quote} Dir ebenso {quote} Yes, it should be possible to merge the 2 eas together. Since I stopped trading for the week and will enjoy barbecue&some drinks later I think I will have a look tomorrow or sunday ...
Oh, that would be great. Dankeschön. Enjoy the weekend. Please don't merge the EA's while drinking.
  • #739
  • Jun 6, 2014 9:17am Jun 6, 2014 9:17am
Quoting mm2mm
{quote} But why start with 375? You start with 5 x 100 = 500 (trades taken) and subtract 5 x 25 = 125 (trades lost) so total = 375 Not 125 lol

in order to fit into 100% it would be 5 x 75 and into a 75% winning percentage. you're adding on an extra 25 winning trades.

and you're making the stop loss 5 pips instead of 10 as is said here to use
  • #740
  • Jun 6, 2014 9:17am Jun 6, 2014 9:17am
Interesting thread, just an observation from me http://screencast.com/t/CtD49pwIrug
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