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As simple as possible: 00 level trading

  • #1,341
  • Jun 10, 2014 11:04am Jun 10, 2014 11:04am
Today I was a little bit too late at a trade. I used a limit stop, the price came back, triggered at 00 and I made 5 pips. No entry or a good one.
  • #1,342
  • Jun 10, 2014 11:07am Jun 10, 2014 11:07am
Quoting Traffex
Today I was a little bit too late at a trade. I used a limit stop, the price came back, triggered at 00 and I made 5 pips. No entry or a good one.

i would have waited fo the next hour

glad you got the 5 pips though..

Udine
Sleep less, live fast, as it aint gonna last
  • #1,343
  • Jun 10, 2014 11:11am Jun 10, 2014 11:11am
Quoting Udine
{quote} ok I'll explain.. for easy viewing here the GJ 1H chart {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
ahh, is that because the CURRENT candle state would be red if it dropped below 171.63 so no matter what you set the order below the current price, previous candle red or green is a bit irrelevant, its the close price you are looking at.

I didn't quite get that initially, I thought prev candle had to be red as well to get extra confirmation.
  • #1,344
  • Jun 10, 2014 11:14am Jun 10, 2014 11:14am
Quoting Udine
{quote} i would have waited fo the next hour glad you got the 5 pips though.. Udine
But if you took the trade in time, it is the same trade - or ?
  • #1,345
  • Jun 10, 2014 11:16am Jun 10, 2014 11:16am
Quoting mpillmann
{quote} 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.
Out for TS.
1.2 Pips profit.
  • #1,346
  • Jun 10, 2014 11:17am Jun 10, 2014 11:17am
Quoting pgtips
{quote} ahh, is that because the CURRENT candle state would be red if it dropped below 171.63 so no matter what you set the order below the current price, previous candle red or green is a bit irrelevant, its the close price you are looking at. I didn't quite get that initially, I thought prev candle had to be red as well to get extra confirmation.

the previous 1H green candle closed at 171.633, the next candle opened @ 171.633

the D1 candle is red so you know you only trade SHORT.., so you know the next 00 level for a possible short trade is 171.600

when prices goes down to 171.600, the 1H candle is automatically red... like magic.... you can anticipate the trades... its that simple..

I cannot explain it more simple..

You only take in account the present situation, not the past..

Udine
Sleep less, live fast, as it aint gonna last
  • #1,347
  • Jun 10, 2014 11:19am Jun 10, 2014 11:19am
Quoting Traffex
{quote} But if you took the trade in time, it is the same trade - or ?
yes by pending order only
Sleep less, live fast, as it aint gonna last
  • #1,348
  • Jun 10, 2014 11:22am Jun 10, 2014 11:22am
Quoting Udine
{quote} the previous 1H green candle closed at 171.633, the next candle opened @ 171.633 the D1 candle is red so you know you only trade SHORT.., so you know the next 00 level for a possible short trade is 171.600 when prices goes down to 171.600, the 1H candle is automatically red... like magic.... you can anticipate the trades... its that simple.. I cannot explain it more simple.. You only take in account the present situation, not the past.. Udine
I get it, its nice. Thank you for sharing. Will be active starting next week. Next few days I study and demo.

PG
  • #1,349
  • Jun 10, 2014 11:23am Jun 10, 2014 11:23am
Quoting Udine
{quote} the previous 1H green candle closed at 171.633, the next candle opened @ 171.633 the D1 candle is red so you know you only trade SHORT.., so you know the next 00 level for a possible short trade is 171.600 when prices goes down to 171.600, the 1H candle is automatically red... like magic.... you can anticipate the trades... its that simple.. I cannot explain it more simple.. You only take in account the present situation, not the past.. Udine
Well udine....
I would like to give you the golden medal for your patience

I think you are explaining this the 20th time since you opened the thread
  • #1,350
  • Jun 10, 2014 11:25am Jun 10, 2014 11:25am
Quoting Jeffray
{quote} Well udine.... I would like to give you the golden medal for your patience I think you are explaining this the 20th time since you opened the thread

nothing better to do... sitting in the sun having a beer
Sleep less, live fast, as it aint gonna last
  • #1,351
  • Jun 10, 2014 11:29am Jun 10, 2014 11:29am
Quoting Udine
{quote} yes by pending order only
Sorry that I ask again. Isnt a Limit Order no pending order?
  • #1,352
  • Jun 10, 2014 11:31am Jun 10, 2014 11:31am
Quoting Traffex
{quote} Sorry that I ask again. Isnt a Limit Order no pending order?
you tell me

Udine
Sleep less, live fast, as it aint gonna last
  • #1,353
  • Jun 10, 2014 11:34am Jun 10, 2014 11:34am
Quoting flx69
{quote} Ehm, you´re looking for sth like this ? {image}
Yep

EXACTLY ! You see what I mean !

Regards

BBF

PS : I take this opportunity to thanks thoroughly the numerous (very welcomed) fellows that gave me advices and good information.
... and (as we speak various language in this thread) as my spanish mother you to say "Mañana por la mañana ASTA la Vista !
BigBlackfeet Always on the(forex) war path !
  • #1,354
  • Jun 10, 2014 11:43am Jun 10, 2014 11:43am
A demain pour de nouvelles aventures en forex avec la participation de Monsieur BBF (y HASTA la vista).
Time for a beer now.
  • #1,355
  • Jun 10, 2014 11:45am Jun 10, 2014 11:45am
ok guys out of here today.

I'll be back...

Stay green

Udine
Sleep less, live fast, as it aint gonna last
  • #1,356
  • Jun 10, 2014 11:51am Jun 10, 2014 11:51am
Thank you.

Any one might be able to answer, why not shoot for 10 pips rather than 5, there seem to be lots of level to level moves. Less spread give up ?
  • #1,357
  • Jun 10, 2014 11:59am Jun 10, 2014 11:59am
Quoting pgtips
Thank you. Any one might be able to answer, why not shoot for 10 pips rather than 5, there seem to be lots of level to level moves. Less spread give up ?
Just jo through history setups and take a look in the one minute charts, then. You may see, that - with our tight 10 pip SL - most trades will be taken out for TS or SL and do not hit +10 pip profit but more often the +5 target.
  • #1,358
  • Jun 10, 2014 12:01pm Jun 10, 2014 12:01pm
Thanks, will look now for next few days.

safe trading all.
  • #1,359
  • Jun 10, 2014 3:20pm Jun 10, 2014 3:20pm
Quoting Ata-Turkoglu
Hi Folks, One member requested the turkish translation of Udine's word document containing the rules. I just finished the translation (must apologize, as I am not a professional translator I tried my best) and I am sharing it now, hope it helps all turkish members who have trouble with understanding the basic rules. Enjoy & Stay Green.. {file}
Merhaba Ata bey
Bu gerçekten Çok faydalı bir döküman oldu
Vakit ayırıp bunu çevirdiğiniz için çok teşekkür ederim
saygılar ve selamlar
  • #1,360
  • Jun 10, 2014 4:48pm Jun 10, 2014 4:48pm
Quoting Jeffray
{quote} Well udine.... I would like to give you the golden medal for your patience I think you are explaining this the 20th time since you opened the thread
Yes it is the 20th ,the other 19 times were to you
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