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As simple as possible: 00 level trading

  • #1,061
  • Jun 9, 2014 9:41pm Jun 9, 2014 9:41pm
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 10:48pm Jun 9, 2014 10:48pm
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 11:04pm Jun 9, 2014 11:04pm
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 11:04pm Jun 9, 2014 11:04pm
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 11:22pm Jun 9, 2014 11:22pm
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 10, 2014 12:58am Jun 10, 2014 12:58am
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 10, 2014 1:20am Jun 10, 2014 1:20am
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 10, 2014 1:21am Jun 10, 2014 1:21am
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 10, 2014 1:24am Jun 10, 2014 1:24am
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 10, 2014 1:26am Jun 10, 2014 1:26am
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 10, 2014 1:33am Jun 10, 2014 1:33am
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 10, 2014 1:37am Jun 10, 2014 1:37am
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 10, 2014 1:39am Jun 10, 2014 1:39am
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 10, 2014 1:42am Jun 10, 2014 1:42am
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 10, 2014 1:44am Jun 10, 2014 1:44am
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 10, 2014 1:44am Jun 10, 2014 1:44am
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 10, 2014 1:47am Jun 10, 2014 1:47am
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 10, 2014 1:47am Jun 10, 2014 1:47am
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 10, 2014 1:48am Jun 10, 2014 1:48am
Quoting SunnyFx2002
1st Trade: GJ Stopped {image}
Good example for another Frankfurt fakey
  • #1,080
  • Jun 10, 2014 1:51am Jun 10, 2014 1:51am
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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