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As simple as possible: 00 level trading

  • #1,321
  • Jun 10, 2014 10:01am Jun 10, 2014 10:01am
Hi,

I think last Q, now practice.

if price is 171.650 to short pending order @ 171.600

same for buys , you buy behind the last 10 level passed?

you only trade the first 00 level cross

so if you are SHORT you take next 00 under current price, if long you take next 00 above price

so no small retrace, say if price 13, is it below or above..... or is cut off the 5 level.

Could you also PM me the information for lower spreads, I am very high which makes this a bit difficult.

thank you for all your help Udine
  • #1,322
  • Jun 10, 2014 10:04am Jun 10, 2014 10:04am
Quoting regme
Udine, please PM me also. Alp--- broker spread is 4+pips for GJ.
Guys, go here and choose your broker with spreads under 1 pip:
http://www.forexfactory.com/showthre...39#post7522439
Those who know don't talk. Those who talk don't know.
  • #1,323
  • Jun 10, 2014 10:06am Jun 10, 2014 10:06am
Quoting pgtips
Hi, I think last Q, now practice. if price is 171.650 to short pending order @ 171.600 same for buys , you buy behind the last 10 level passed? you only trade the first 00 level cross so if you are SHORT you take next 00 under current price, if long you take next 00 above price so no small retrace, say if price 13, is it below or above..... or is cut off the 5 level. Could you also PM me the information for lower spreads, I am very high which makes this a bit difficult. thank you for all your help Udine
yes
Sleep less, live fast, as it aint gonna last
  • #1,324
  • Jun 10, 2014 10:07am Jun 10, 2014 10:07am
Quoting hugecat
{quote} Guys, go here and choose your broker with spreads under 1 pip: http://www.forexfactory.com/showthre...39#post7522439
thx
Sleep less, live fast, as it aint gonna last
  • #1,325
  • Jun 10, 2014 10:14am Jun 10, 2014 10:14am
6 wins, 1 loss. No more trades today.
  • #1,326
  • Jun 10, 2014 10:15am Jun 10, 2014 10:15am
Quoting Traffex
6 wins, 1 loss. No more trades today.
well done
Sleep less, live fast, as it aint gonna last
  • #1,327
  • Jun 10, 2014 10:19am Jun 10, 2014 10:19am
very fortunate I still have an old Pepperstone account ;-)
  • #1,328
  • Jun 10, 2014 10:20am Jun 10, 2014 10:20am
Pending sell stop gj @171.500

Edit: filled.
  • #1,329
  • Jun 10, 2014 10:23am Jun 10, 2014 10:23am
Quoting mpillmann
Pending sell stop gj @171.500
show chart please
Sleep less, live fast, as it aint gonna last
  • #1,330
  • Jun 10, 2014 10:24am Jun 10, 2014 10:24am
Quoting mpillmann
Pending sell stop gj @171.500
Keep an eye on the RmDn. It is red and has a low number.
  • #1,331
  • Jun 10, 2014 10:29am Jun 10, 2014 10:29am
Quoting Udine
{quote} show chart please
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 43 KB
  • #1,332
  • Jun 10, 2014 10:31am Jun 10, 2014 10:31am
Quoting frietzak
{quote} Keep an eye on the RmDn. It is red and has a low number.
My one seems to be messed up since I needed to restart the terminal. But I don't mind, I'll not give up too much profit of the day but may win another 0,5%. I feel good with this one after the retrace.

Now out, mowing some grass. Back in 2 hours.
  • #1,333
  • Jun 10, 2014 10:34am Jun 10, 2014 10:34am
Quoting mpillmann
{quote} {image}
thx

its a late entry... your entry should have been the .600 level



besides I think your xADR setting is wrong or your daily open line setting is wrong.. Its not possible the daily open line is all up there and the xADR shows still so much room to move...

Cheers

Udine
Sleep less, live fast, as it aint gonna last
  • #1,334
  • Jun 10, 2014 10:45am Jun 10, 2014 10:45am
Hello Udine, I´m new here and I think your trading plan is one of the best I can find on FF. Simple and brilliant, brilliant because simple.
I have a small idea of ​​a combination with the Asian-range (is not my indicator!); as you think or the other about it? Open Trade on the next round number above os below the box (course above/below the day open line). Look at the picture: one buy stop- Order at 1.0220 and one sell stop-Order at 1.0180.
Today 5 trades; 4 win.
Attached Image (click to enlarge)
Click to Enlarge Name: audcade-h1-you-trade-holdings-2.png Size: 85 KB
  • #1,335
  • Jun 10, 2014 10:45am Jun 10, 2014 10:45am
Hi Udine,

Thanks so much for sharing your system. I have tried backtesting it and today i executed 5 trades and all 5 wins.

2 of the best ones were GBP/USD, timed it after London and US opens.

I think the key to your success in this system is

1) 10 Pips profit, no more and no less cos greed kills

2) Setting strict CL of 10pips. Set it and let the show begin

3) Finding the trend which is exact same as the D1 and H1, very important

I will be camping here on this thread so as not to miss anymore tips from you bro.

Cheers, you rock
  • #1,336
  • Jun 10, 2014 10:49am Jun 10, 2014 10:49am
could you explain please Udine, you said take the next level, so 50 would be next level, 60 is pull back behind it

I am also confused on entry, prev hour was green candle, but day is red ?
  • #1,337
  • Jun 10, 2014 10:51am Jun 10, 2014 10:51am
Quoting rmndschmidt
Hello Udine, I´m new here and I think your trading plan is one of the best I can find on FF. Simple and brilliant, brilliant because simple. I have a small idea of ​​a combination with the Asian-range (is not my indicator!); as you think or the other about it? Open Trade on the next round number above os below the box (course above/below the day open line). Look at the picture: one buy stop- Order at 1.0220 and one sell stop-Order at 1.0180. Today 5 trades; 4 win. {image}

rmndschmidt,

your trading a kind of asia break out system, there are several threads of breakout systems on ff.com... If you have been able to make your trading more profitable... I am glad for you, but its not part, nor will become part of "my system"

stay green

Udine
Sleep less, live fast, as it aint gonna last
  • #1,338
  • Jun 10, 2014 10:54am Jun 10, 2014 10:54am
Udine...

whats the purpose of ''any candle'' indicator, the one all the way on the right... I'm curious because you have Daily open line, also, you have ''UFX trend multimeter '', so you can see what the currency is going and what positions to take without ''any candle'' indicator... why do you keep it on your chart ?
  • #1,339
  • Jun 10, 2014 10:58am Jun 10, 2014 10:58am
Quoting pgtips
could you explain please Udine, you said take the next level, so 50 would be next level, 60 is pull back behind it I am also confused on entry, prev hour was green candle, but day is red ?

ok I'll explain..

for easy viewing here the GJ 1H chart

Attached Image


the previous hour was green and closed @ 171.633

as the D1 = red means we only trade short

first 00 level is the 171.600, so there the pending order should have been set... not at 171.500 !!

here we ignore the ADR as we should not be trading as ADR was already reached..

hope that makes it clear

Udine
Sleep less, live fast, as it aint gonna last
  • #1,340
  • Jun 10, 2014 10:59am Jun 10, 2014 10:59am
Quoting NewToForex14
Udine... whats the purpose of ''any candle'' indicator, the one all the way on the right... I'm curious because you have Daily open line, also, you have ''UFX trend multimeter '', so you can see what the currency is going and what positions to take without ''any candle'' indicator... why do you keep it on your chart ?

easier for me to watch the charts... thats all
Sleep less, live fast, as it aint gonna last
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