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As simple as possible: 00 level trading

  • #1,061
  • Jun 9, 2014 7:41pm Jun 9, 2014 7:41pm
With many of these spreads, 5 pips quickly becomes 7.5 or 8 pips. And forget about the GBP/JPY on the FXCM platform at a whopping 4+ pip spread!
  • #1,062
  • Jun 9, 2014 8:48pm Jun 9, 2014 8:48pm
Quoting prof8t
With many of these spreads, 5 pips quickly becomes 7.5 or 8 pips. And forget about the GBP/JPY on the FXCM platform at a whopping 4+ pip spread!
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusdm5.png Size: 81 KB


The spread must be overcome to start making profit. Something easily forgotten until time to TP.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,063
  • Jun 9, 2014 9:04pm Jun 9, 2014 9:04pm
Quoting jmflukeiii
{quote} I placed demo trades on 6 pairs with your version to test it out - the hidden SL worked, but the profit target and trailing stop didn't work. Perhaps I messed up a setting or something... the one Surf posted above appears to be working great -
Yes, still testing.
  • #1,064
  • Jun 9, 2014 9:04pm Jun 9, 2014 9:04pm
Quoting prof8t
With many of these spreads, 5 pips quickly becomes 7.5 or 8 pips. And forget about the GBP/JPY on the FXCM platform at a whopping 4+ pip spread!
Yes, that is why I look for low spread first, then ADR.
  • #1,065
  • Jun 9, 2014 9:22pm Jun 9, 2014 9:22pm
Quoting ericjschroed
{quote} Yes, still testing.
Sorry, I meant no offense - I appreciate you even trying. Just wanted to give you my feedback so far -
Small disciplines repeated with consistency lead to great achievements.
  • #1,066
  • Jun 9, 2014 10:58pm Jun 9, 2014 10:58pm
Tuesday Morning:
Frankfurt Open coming up soon, both GJ & EJ have moved steadily down during Asian session.
I only have around 35 pips room left to the downside for each.
GBP RED news in about 2 & half hours.

GJ hanging under RN for now and EJ staying just above RN.

Patience.
Healthy, Wealthy & Steady!!
  • #1,067
  • Jun 9, 2014 11:20pm Jun 9, 2014 11:20pm
5 pips in before price reach 139.100 level now in Sniper mode..
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpym5.png Size: 52 KB
  • #1,068
  • Jun 9, 2014 11:21pm Jun 9, 2014 11:21pm
Quoting messiah01
{quote} Cheers Udine, appreciated! I usually use a different platform to trade so have just set up a demo account for MT4 - I have everything loaded up and the EA's seem to be working great, however I don't have a smiley face or skull, there is just a small rectangle box where both should be (not a sad face) - all live trading options are on and manual confirmations are off and as I say they seem to be working, it's just a bit disconcerting without the picture confirmations on there that they are live! Anyone else have a similar situation?

show us a chart..
Sleep less, live fast, as it aint gonna last
  • #1,069
  • Jun 9, 2014 11:24pm Jun 9, 2014 11:24pm
Quoting jeetvirk
5 pips in before price reach 139.100 level now in Sniper mode.. {image}
Sleep less, live fast, as it aint gonna last
  • #1,070
  • Jun 9, 2014 11:26pm Jun 9, 2014 11:26pm
Iam waiting for London Open...


Edit: Lucky one... was thinking about to go short on GA on FO... I did not and it payed out would have ended with a loss
  • #1,071
  • Jun 9, 2014 11:33pm Jun 9, 2014 11:33pm
Quoting Jeffray
Iam waiting for London Open... Edit: Lucky one... was thinking about to go short on GA on FO... I did not and it payed out would have ended with a loss

Sometimes happens the Frankfurt fake... so waiting for London is NOT a bad idea
Sleep less, live fast, as it aint gonna last
  • #1,072
  • Jun 9, 2014 11:37pm Jun 9, 2014 11:37pm
Quoting Udine
{quote} Sometimes happens the Frankfurt fake... so waiting for London is NOT a bad idea

Hey Udine,

You always wait for London opening or you trade Frankfurt as well?
And how do you decide to trade Frankfurt,which criteria to avoid fakeis?

Regards!
  • #1,073
  • Jun 9, 2014 11:39pm Jun 9, 2014 11:39pm
Quoting Zokynho
{quote} Hey Udine, You always wait for London opening or you trade Frankfurt as well? And how do you decide to trade Frankfurt,which criteria to avoid fakeis? Regards!

Normally I trade Frankfurt open when the price is around the .400/.500/.600 levels otherwise I leave it and wait for London open

Stay green

Udine
Sleep less, live fast, as it aint gonna last
  • #1,074
  • Jun 9, 2014 11:42pm Jun 9, 2014 11:42pm
Quoting Udine
{quote} Normally I trade Frankfurt open when the price is around the .400/.500/.600 levels otherwise I leave it and wait for London open Stay green Udine

Ok good rule and make sense,I will write this down!

Thank you!

Regards!
  • #1,075
  • Jun 9, 2014 11:44pm Jun 9, 2014 11:44pm
Quoting Udine
{quote} Normally I trade Frankfurt open when the price is around the .400/.500/.600 levels otherwise I leave it and wait for London open Stay green Udine
Understood.

As for .000 level, do you have any preference /rule ?
  • #1,076
  • Jun 9, 2014 11:44pm Jun 9, 2014 11:44pm
1st Trade: GJ Stopped

Attached Image (click to enlarge)
Click to Enlarge Name: 2014-06-10_GJ_01_STOP.png Size: 81 KB
Healthy, Wealthy & Steady!!
  • #1,077
  • Jun 9, 2014 11:47pm Jun 9, 2014 11:47pm
Quoting SunnyFx2002
1st Trade: GJ Stopped {image}
GJ and EJ move in the same direction...
My EJ was running > 2hrs and stopped out as well...
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 171 KB
  • #1,078
  • Jun 9, 2014 11:47pm Jun 9, 2014 11:47pm
Quoting flx69
{quote} Understood. As for .000 level, do you have any preference /rule ?
Nope, only during Frankfurt open, I dont trade this level... can go any direction...

Stay green

Udine
Sleep less, live fast, as it aint gonna last
  • #1,079
  • Jun 9, 2014 11:48pm Jun 9, 2014 11:48pm
Quoting SunnyFx2002
1st Trade: GJ Stopped {image}
Good example for another Frankfurt fakey
  • #1,080
  • Jun 9, 2014 11:51pm Jun 9, 2014 11:51pm
Quoting SunnyFx2002
1st Trade: GJ Stopped {image}

First start at London open, more new money flowing into the market to make the price move enough into our direction...
No need to rush it and start trading Frankfurt, your chances for getting your pips will come for sure..

Stay green

Udine
Sleep less, live fast, as it aint gonna last
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