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As simple as possible: 00 level trading

  • #981
  • Jun 9, 2014 8:16am Jun 9, 2014 8:16am
Quoting TooSlow
{quote} {image} ADR and ATR do not give you the information you need to be profitable. Knowing the frequency distribution of the range shows a clear picture of how you can expect price to move.

ADR and ATR are used to get an edge, thats all..

1. If the ADR is small there is a lesser chance of reaching the piptarget, so a pair with a higher ADR has an advantage
2. If the ATR has been reached, there is a bigger chance the price might reverse on you so why take the risk and enter a trade..

Frequency distribution can be another item to give you an edge, but I decided to keep it as simple as possible

Cheers

Udine
Sleep less, live fast, as it aint gonna last
  • #982
  • Jun 9, 2014 8:16am Jun 9, 2014 8:16am
Quoting jmflukeiii
Udine - thank you for the response to my question.

welcome
Sleep less, live fast, as it aint gonna last
  • #983
  • Jun 9, 2014 8:19am Jun 9, 2014 8:19am
Quoting Udine
{quote} you entered at 172.100 ??
yes short at 172.10
  • #984
  • Jun 9, 2014 8:19am Jun 9, 2014 8:19am
Quoting TooSlow
{image} Checking the frequency distribution for the H1 charts indicates 5 pips can be obtained more times than not.
Lets say the average range of a 1H candle is 14 pips, then you could say... Hey I could make 5 pips on that hour...and that is absolutely true..

The question now is how to create a system out of that...

and each and everybody can do that to his/her own liking..

cheers

Udine
Sleep less, live fast, as it aint gonna last
  • #985
  • Jun 9, 2014 8:25am Jun 9, 2014 8:25am
Quoting mathprav
{quote} yes short at 172.10
part of the rules:

no short @ .100 levels and no longs @ .900 levels

Udine
Sleep less, live fast, as it aint gonna last
  • #986
  • Jun 9, 2014 8:31am Jun 9, 2014 8:31am
Quoting Udine
{quote} part of the rules: no short @ .100 levels and no longs @ .900 levels Udine
Oh missed this rule, is this the new rule added?
thank you for letting me know the rule
  • #987
  • Jun 9, 2014 8:33am Jun 9, 2014 8:33am
Quoting mathprav
{quote} Oh missed this rule, is this the new rule added? thank you for letting me know the rule
mentioned several times in the thread
Sleep less, live fast, as it aint gonna last
  • #988
  • Jun 9, 2014 8:33am Jun 9, 2014 8:33am
looks like no more trade setups...
  • #989
  • Jun 9, 2014 8:42am Jun 9, 2014 8:42am
Bad performance for me today. What started as 1 win 1 loss became more losses than wins trying to reach +10pips. I need to discipline myself when to stop for the day with small loss.
  • #990
  • Jun 9, 2014 8:44am Jun 9, 2014 8:44am
Quoting mathprav
looks like no more trade setups...

you never know...
Sleep less, live fast, as it aint gonna last
  • #991
  • Jun 9, 2014 8:45am Jun 9, 2014 8:45am
Quoting Patmontes
Bad performance for me today. What started as 1 win 1 loss became more losses than wins trying to reach +10pips. I need to discipline myself when to stop for the day with small loss.
Do yourself a favor and read post #879! Trading is 90% mental.
  • #992
  • Jun 9, 2014 8:46am Jun 9, 2014 8:46am
Quoting Patmontes
Bad performance for me today. What started as 1 win 1 loss became more losses than wins trying to reach +10pips. I need to discipline myself when to stop for the day with small loss.
each mistake = 10 burpees...

Inserted Video


enjoy the view

Udine
Sleep less, live fast, as it aint gonna last
  • #993
  • Jun 9, 2014 8:48am Jun 9, 2014 8:48am
Quoting MKFXTrader
{quote} Do yourself a favor and read post #879! Trading is 90% mental.

even better.. print that post and read it every day BEFORE AND AFTER the trading day !!

Udine
Sleep less, live fast, as it aint gonna last
  • #994
  • Jun 9, 2014 8:54am Jun 9, 2014 8:54am
E/U +5 pips. 1st trade today.
  • #995
  • Jun 9, 2014 8:57am Jun 9, 2014 8:57am
Quoting MKFXTrader
E/U +5 pips. 1st trade today.
Sleep less, live fast, as it aint gonna last
  • #996
  • Jun 9, 2014 9:02am Jun 9, 2014 9:02am
Quoting MKFXTrader
E/U +5 pips. 1st trade today.
At 1.3590?
Small disciplines repeated with consistency lead to great achievements.
  • #997
  • Jun 9, 2014 9:02am Jun 9, 2014 9:02am
Quoting Udine
{quote}
G/U +5 pips. 2nd trade today. Have a nice day. 2 trades = two wins. Thanks Udine.
  • #998
  • Jun 9, 2014 9:04am Jun 9, 2014 9:04am
Quoting jmflukeiii
{quote} This one? {image}
  • #999
  • Jun 9, 2014 9:09am Jun 9, 2014 9:09am
Thanks all for the encouragement
  • #1,000
  • Jun 9, 2014 9:13am Jun 9, 2014 9:13am
Quoting MKFXTrader
{quote} G/U +5 pips. 2nd trade today. Have a nice day. 2 trades = two wins. Thanks Udine.

you made the trades not me
Sleep less, live fast, as it aint gonna last
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