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As simple as possible: 00 level trading

  • #841
  • Jun 8, 2014 6:05pm Jun 8, 2014 6:05pm
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...
Hi Udine,

Bedankt voor je erg goede uitleg. Veel van wat je zegt heb ik in het verleden zelf ook moeten ondervinden. Je formule bied nieuwe inzichten en laat mij beseffen dat consistentie de mogelijkheid tot een miljonairs bestaan bied. Bedankt hiervoor, dit helpt mij nog beter focussen.

PS: Heb je er ooit al eens over nagedacht om een boek over jezelf te schrijven? Een Nederlander die in Italië woont en leeft van zijn Forex inkomsten. Daar lijkt mij een prachtig verhaal achter te zitten. ;-)

Met vriendelijke groet,

Frietzak

English translation:

Thanks for your great explanation. Much of what you say, I have faced in the past. Your formula offers new insights and makes me realize that consistency, offers the possibility to live a millionaires existence. Thanks for this, it helps me focus better.

PS: Have you ever thought about writing a book about yourself? A Dutchman who lives in Italy and maintains hisself using his income generated in the Forex. That sounds to me like there's a great story behind it. ;-)

Best regards,

Frietzak
  • #842
  • Jun 8, 2014 6:53pm Jun 8, 2014 6:53pm
Quoting Patmontes
{quote} Thanks for sharing Ferru. May i seek help with how you type in the settings field for the currency filter?
Not sure what you are requesting ...

BTW, I am not the author of this tool ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #843
  • Jun 8, 2014 7:12pm Jun 8, 2014 7:12pm
Quoting jmflukeiii
Udine - I would be interested to hear your thoughts on the following - You have success with this method, and with your previous one you shared on the forum here. It appears you have had quite good success given the size you are now trading. You have now shared two methods, both very simple and easy to follow, nothing too complicated for anyone to learn without a five minute review of your first post and a chart. Further, there is practically no discretion involved - the rules are all set, and thanks to you, even printed on a chart when someone...
Thank you JM, for asking the right question. I'm sure Udine will respond as well, but I have recently read exactly the same thing that you are asking. Systems do not make winners; traders do. A good trader can take an average system and win, while a bad trader can take a great system and lose money. Some people say you need to take at least 500 trades on a system before you know if it's going to work for you or if you will need to modify it. I have about 480 more to go. It is good to ask questions, and great that Udine will answer them, if they are valid questions and have not been asked 10 times before. If you think you fully understand the rules: trade, trade, trade (on demo). That's the only way to learn anything. In everything else in life (except Forex), especially when we are younger, we learn that making mistakes is a way to learn. As adults however, we learn that making mistakes is a way to be embarrassed in front of others, so we try to avoid making mistakes, which of course prevents us from learning! Make mistakes.... Learn. Just the fact that you asked the right question suggests to me that you will be successful. I am not yet myself, but I'm sure I'm pretty close.
  • #844
  • Jun 8, 2014 7:28pm Jun 8, 2014 7:28pm
Hello Master Udine!

Two questions, first of all, if market HITS 00 in case of
above daily open, I can go for BUY, say market hits
172.500. My question is where to buy 172.500?? OR
172.600., at Market Execution??

or BUY STOP at 172.600 or 500.

Second question is, is there iny SELL in above Daily Open or
vice verca.

regards,
LoveandPeace
  • #845
  • Jun 8, 2014 7:35pm Jun 8, 2014 7:35pm
Quoting loveandpeace
Hello Master Udine! Two questions, first of all, if market HITS 00 in case of above daily open, I can go for BUY, say market hits 172.500. My question is where to buy 172.500?? OR 172.600., at Market Execution?? or BUY STOP at 172.600 or 500. Second question is, is there iny SELL in above Daily Open or vice verca. regards, LoveandPeace
Where aren't looking at the 00 levels to be hit ... we are looking at placing pending orders at these levels when conditions have been fullfilled.
MT4/MT5 EAs/Indicators/Alerts coder
  • #846
  • Jun 8, 2014 7:40pm Jun 8, 2014 7:40pm
thanks for your prompt reply FerruFx!

What I understood, if both H1 & D1 is green,
I can put BUY STOP or BUY LIMIT @ nearest 00, right??
  • #847
  • Jun 8, 2014 7:52pm Jun 8, 2014 7:52pm
Quoting FerruFx
{quote} Not sure what you are requesting ... BTW, I am not the author of this tool ...
Oh I just wanted to ask how do I change in the settings so that I can only see news for gbp jpy and eur....
  • #848
  • Jun 8, 2014 7:52pm Jun 8, 2014 7:52pm
Quoting loveandpeace
thanks for your prompt reply FerruFx! What I understood, if both H1 & D1 is green, I can put BUY STOP or BUY LIMIT @ nearest 00, right??
If both are green, put the pending at the next 00 level.

But there are other conditions to be checked ... like the 10 and 90 levels, the news calendar ... But I am sure you are aware of all this as you certainly read the whole thread
MT4/MT5 EAs/Indicators/Alerts coder
  • #849
  • Jun 8, 2014 7:56pm Jun 8, 2014 7:56pm
Quoting Patmontes
{quote} Oh I just wanted to ask how do I change in the settings so that I can only see news for gbp jpy and eur....
In the CurrencyFilterList parameters.
MT4/MT5 EAs/Indicators/Alerts coder
  • #850
  • Jun 8, 2014 7:59pm Jun 8, 2014 7:59pm
thanks FerruFx!

yes I understand the other conditions, except I
DO NOT GET ADR , do I have to check it all the time??

is SL & TP already built in?? I do not have to put??
  • #851
  • Jun 8, 2014 8:10pm Jun 8, 2014 8:10pm
Quoting loveandpeace
thanks FerruFx! yes I understand the other conditions, except I DO NOT GET ADR , do I have to check it all the time?? is SL & TP already built in?? I do not have to put??
Yes have to check if you have enough room based on the ADR.

I don't know about TP/SL. I didn't look at the EAs posted here.
MT4/MT5 EAs/Indicators/Alerts coder
  • #852
  • Jun 8, 2014 8:45pm Jun 8, 2014 8:45pm
thanks FerruFx!

if you see my chart below, what is this Rm Up & Rm Dn numbers at the bottom left

Attached Image (click to enlarge)
Click to Enlarge Name: udine.png Size: 39 KB
  • #853
  • Jun 8, 2014 9:18pm Jun 8, 2014 9:18pm
Quoting loveandpeace
thanks FerruFx! if you see my chart below, what is this Rm Up & Rm Dn numbers at the bottom left {image}
So you didn't read the thread !!!

That's the room up and room down (ADR).
MT4/MT5 EAs/Indicators/Alerts coder
  • #854
  • Jun 8, 2014 9:33pm Jun 8, 2014 9:33pm
Quoting goldcourse
TooSlow, Are you able to share this indicator? Thanking you in advance. Vincent {image}
No, that indicator is not mine to share. The originator of the psychological 00/25/50/75 trades and H1/D1 training wheels coded that in 2009. MPMM_PSYCHO is part of the name of the indicator. Good luck with your search.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #855
  • Jun 8, 2014 9:35pm Jun 8, 2014 9:35pm
Quoting cigarguy
{quote} Juan007, Would you post or PM your settings for the SwissArmy EA for this system? I used it way back on the THV thread with Miss Pips, but curious what you use here! Thank You and Regards, Cigarguy
Welcome, cigarguy. Nice to see you again.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #856
  • Edited Jun 9, 2014 6:44pm Jun 8, 2014 9:47pm | Edited Jun 9, 2014 6:44pm
Tjeemig de peemig hoe kan een draadje groeien als je effe niet oplet...

Udine,

Thanks for reviving part of TRO his work AND adding the positive spin of the 1% money making. The mental part is the biggest hurdle in trading and instead of 2% maximum risk it is nice to see you approach it from the other side!
Making $10 on every $1000 per day is a nice mindset and the $20 risk per trade keeps the 2% line with 2x mini lots and 10 PIPS.
Do people here go for 1x winning trade (2 mini-lots per $1000) with 2% risk? One loosing means at least 3x other winners to make the 1% per day.

I integrated it with CobraV4 I was using for scalping and will see how I go. I will post my findings as well over the long run.

Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: Combined.JPG Size: 186 KB
  • #857
  • Jun 8, 2014 10:58pm Jun 8, 2014 10:58pm
Quoting pannet1
{quote} Hi Udine, Sorry to bother again on the indicator. The yellow vertical ones. What is the name of the indicator. Seems you have several secret ones other than the one published

Because of my eye problems, its to show me better the start of the new hour... its an aid, but not needed
Sleep less, live fast, as it aint gonna last
  • #858
  • Jun 8, 2014 11:00pm Jun 8, 2014 11:00pm
Quoting pannet1
Udine, I have combined the two EAs. Others, I have seen at least two inquiries to combine both the EAs. Please test it properly before you use in live trading. Cheers. {file}

Will test it and let you know
Sleep less, live fast, as it aint gonna last
  • #859
  • Jun 8, 2014 11:03pm Jun 8, 2014 11:03pm
Quoting jmflukeiii
Udine - I would be interested to hear your thoughts on the following - You have success with this method, and with your previous one you shared on the forum here. It appears you have had quite good success given the size you are now trading. You have now shared two methods, both very simple and easy to follow, nothing too complicated for anyone to learn without a five minute review of your first post and a chart. Further, there is practically no discretion involved - the rules are all set, and thanks to you, even printed on a chart when someone...

I will reply to this later, after I am really awake and had my breakfast.

This deserves a "serious" reply

Udine
Sleep less, live fast, as it aint gonna last
  • #860
  • Jun 8, 2014 11:04pm Jun 8, 2014 11:04pm
Quoting jeffmichaels
Read the thread twice, and will try a few trades this week on small live account. I've uploaded the template but i feel i have some indies missing, I've uploaded a screenshot with the indicator list. And also seem to be missing the red circled indy on the profit tracker chart. {image}

correct

here you go..
Attached File(s)
File Type: ex4 UFX Most active.ex4   16 KB | 1,157 downloads
Sleep less, live fast, as it aint gonna last
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