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As simple as possible: 00 level trading

  • #781
  • Jun 6, 2014 11:40am Jun 6, 2014 11:40am
Quoting justin7
{quote} what does that have to do with spilling anything? you're giving your system here whats the big deal with what your spreads + commission are?. It's obviously very low otherwise you wouldn't be up that much with this 2:1 r:r system

You want a broker with a low spread and commission ? Try google it and you will make your choice
  • #782
  • Jun 6, 2014 11:57am Jun 6, 2014 11:57am
Quoting MKFXTrader
Es gibt viele Deutsche hier.
Vielleicht weil sie wissen was gut ist. Haha.

As from now only in English
  • #783
  • Jun 6, 2014 1:01pm Jun 6, 2014 1:01pm
position size calculator

free indicator

http://www.earnforex.com/metatrader-...ize-Calculator
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpym15 cal.png Size: 70 KB
Attached File(s)
File Type: ex4 PositionSizeCalculator.ex4   23 KB | 564 downloads
File Type: mq4 PositionSizeCalculator.mq4   13 KB | 734 downloads
  • #784
  • Jun 6, 2014 2:28pm Jun 6, 2014 2:28pm
Thank you Udine.
I love this system. It does take a different mind set, but once you start trading it, you can see the potential. I placed my first 2 trades last night (morning your time) and both were winners.
I seem to be constantly catching up on the thread since about 10 or more pages are added overnight, so I may have missed this: Have you ever tested different values for stop loss? From my limited visual checking, a 7.5 pip SL may work better for me.
Thanks again.
  • #785
  • Jun 6, 2014 2:45pm Jun 6, 2014 2:45pm
Quoting profitkeeper
Thank you Udine. I love this system. It does take a different mind set, but once you start trading it, you can see the potential. I placed my first 2 trades last night (morning your time) and both were winners. I seem to be constantly catching up on the thread since about 10 or more pages are added overnight, so I may have missed this: Have you ever tested different values for stop loss? From my limited visual checking, a 7.5 pip SL may work better for me. Thanks again.
PK,
He addressed this question a few pages back. Try post #698


Cheers
  • #786
  • Jun 6, 2014 2:48pm Jun 6, 2014 2:48pm
I like the idea of using 5pip TP & 10pip SL FIX & having HIDDEN TP SL code wise


from the document of "As simple as possible 00 level trading"

"Remember:
10 pips a day is all you need to get rich. (A 1K account with 1 %/day compounding will grow into 1 million in 3 years)"
My Best Trade is Next Trade!
  • #787
  • Jun 6, 2014 7:30pm Jun 6, 2014 7:30pm
Quoting Udine
{quote} Also fangen wir jetzt an auf Deutsch zu schreiben?? Am Besten ist es ein PM zu schicken
Ja, das finde ich gut, deutsch als PM zu schicken. Sonst werden die Leute verwirrt
Good friends are more valuable than gold ...
  • #788
  • Jun 6, 2014 10:37pm Jun 6, 2014 10:37pm
consitency is the key , if we consistent hit tp instead of SL any system which does that is a big winner. There is no point trading a system which one gives 50 pips and next day gives 100 pip sl . I like the system as it is simple and consistent.
  • #789
  • Jun 6, 2014 11:06pm Jun 6, 2014 11:06pm
Great system Udine and thank you so much for sharing it.

Have now read through the thread twice and of course all my questions have already been answered
so cheers for all the time that you and all the consistent followers have already spent.

I sincerely believe that anybody who has been trading Forex for at least more than a year will see
the inherent beauty in this type of method.

Now, let us see who is able to do the hard yards from here on in and stick with this type of trading.
This really is a retail traders dream come true.

Ohm Mani Padme Hum, indeed.
Healthy, Wealthy & Steady!!
  • #790
  • Jun 7, 2014 12:52am Jun 7, 2014 12:52am
Result of trading with an EA using this system

Attached Image (click to enlarge)
Click to Enlarge Name: ea.png Size: 116 KB


*EA Ignore potential support/resistance ( could be integrated if need to )
*EA does not have knowledge of no trading in high impact news ( could be integrated if need to )

> EA trade from Asia Open to New York Open + 2 Hours as of now ( Could be change )
> EA limited to 1 trade per hour

Any feedbacks are welcome, I still trying to improve this EA before introduce to the public.
Learn to Trade is Important. Keep your bias & ego aside.
  • #791
  • Jun 7, 2014 1:43am Jun 7, 2014 1:43am
in my opinion, creating a EA for a good strategy will kill the golden goose....
  • #792
  • Jun 7, 2014 2:15am Jun 7, 2014 2:15am
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 ...
I had a look and wondered if there are eas available which do the same already. This ea is a mod. version of the mptm global (pls. see thread below), it has the hide-options for breakeven and stoploss, I think it does the same, can you try it? -> http://www.forexfactory.com/showthre...30#post7432930
PM me with coding requests and I'll probably put you on my ignore list
  • #793
  • Jun 7, 2014 3:18am Jun 7, 2014 3:18am
Quoting chaosbun
Result of trading with an EA using this system {image} *EA Ignore potential support/resistance ( could be integrated if need to ) *EA does not have knowledge of no trading in high impact news ( could be integrated if need to ) > EA trade from Asia Open to New York Open + 2 Hours as of now ( Could be change ) > EA limited to 1 trade per hour Any feedbacks are welcome, I still trying to improve this EA before introduce to the public.
First of all many thanks for your efforts creating this EA.
I don't think an EA can "kill the golden goose" as long as it is tested on live market and not on historichal backtest.

IMHO we should start strictly as per the rules considering:

-Highesty ADR pairs,
-No trade a pair when ADR is almost reached for the day (RgH and RgL)
-No trade into red news,
-Trade only London and New York,
-Stop trading when we have reached 10 pips for that day

On a side note, why the average loss is more than 2 times the average win? (we should stay as close as possible at 2:1 R:R)

Many thanks again for your efforts. Highly appreciated
  • #794
  • Jun 7, 2014 4:08am Jun 7, 2014 4:08am
Quoting chaosbun
Result of trading with an EA using this system {image} *EA Ignore potential support/resistance ( could be integrated if need to ) *EA does not have knowledge of no trading in high impact news ( could be integrated if need to ) > EA trade from Asia Open to New York Open + 2 Hours as of now ( Could be change ) > EA limited to 1 trade per hour Any feedbacks are welcome, I still trying to improve this EA before introduce to the public.
Good job for trying to code the strategy. As long as we capture completely the parameters of the strategy then only allow trading if daily open ADR is big enough, then it would be a good EA to forward test on demo and we can observe if our demo accounts grow at a compounding rate.
  • #795
  • Jun 7, 2014 4:48am Jun 7, 2014 4:48am
Quoting lucariga
{quote} First of all many thanks for your efforts creating this EA. I don't think an EA can "kill the golden goose" as long as it is tested on live market and not on historichal backtest. IMHO we should start strictly as per the rules considering: -Highesty ADR pairs, -No trade a pair when ADR is almost reached for the day (RgH and RgL) -No trade into red news, -Trade only London and New York, -Stop trading when we have reached 10 pips for that day On a side note, why the average loss is more than 2 times the average win? (we should stay as close...
I don't know why but over my 4 years in trading forex, whichever good strategy is converted to EA, the strategy no longer works or the strategy doesn't last long.... my logic is simple if that ea works then no one need to work, anyone can open Forex account run the EA and make profits without any effort....
  • #796
  • Jun 7, 2014 4:55am Jun 7, 2014 4:55am
Udine's strategy is one of the best i have seen, my best wishes to Udine for speedy recovery(Health)
  • #797
  • Jun 7, 2014 5:09am Jun 7, 2014 5:09am
Quoting mathprav
Udine's strategy is one of the best i have seen, my best wishes to Udine for speedy recovery(Health)
Not Udine's strategy its nothing new, google "Tro horizontal lines trading" for videos and various old threads years old
  • #798
  • Jun 7, 2014 5:58am Jun 7, 2014 5:58am
Quoting spacePip
{quote} Not Udine's strategy its nothing new, google "Tro horizontal lines trading" for videos and various old threads years old
sorry yes agree its not a new strategy
  • #799
  • Jun 7, 2014 6:01am Jun 7, 2014 6:01am
Quoting spacePip
{quote} Not Udine's strategy its nothing new, google "Tro horizontal lines trading" for videos and various old threads years old

Why all these arguments about whose the strategy is? Personally l wouldn't have known this way of trading today if not for the generosity of Udine , who decided to share it for no other reason than to help other traders achieve their goal of profitability.Please the thread starter deserve some respect and we should give him exactly that.
  • #800
  • Jun 7, 2014 6:45am Jun 7, 2014 6:45am
Quoting aje6767
{quote} Why all these arguments about whose the strategy is? Personally l wouldn't have known this way of trading today if not for the generosity of Udine , who decided to share it for no other reason than to help other traders achieve their goal of profitability.Please the thread starter deserve some respect and we should give him exactly that.


We never see a MA cross system thread starter give credit to the very first to have elaborated such a strategy ...

Nothing new here ... and all tools used are freely available in all forex forums.

BTW, Udine never hidden the fact that TRO made part of this method. We have here one of his indicator which wasn't renamed ... so we all know where it is from.
MT4/MT5 EAs/Indicators/Alerts coder
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