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As simple as possible: 00 level trading

  • #1,361
  • Jun 10, 2014 3:13pm Jun 10, 2014 3:13pm
Quoting Udine
{quote} nothing better to do... sitting in the sun having a beer
Now that sounds like a great way to end your trading day

Thanks and Congratulations on your very concise thread
  • #1,362
  • Jun 10, 2014 4:06pm Jun 10, 2014 4:06pm
Quoting deanoracer
Here is a snapshot of a formation, however, I do not believe it is the cream of the crop set up... per Udine's rules. {image}
I'm not sure this has anything to do with this thread.
Small disciplines repeated with consistency lead to great achievements.
  • #1,363
  • Jun 10, 2014 4:14pm Jun 10, 2014 4:14pm
Quoting jmflukeiii
{quote} I'm not sure this has anything to do with this thread.

Yeap, fat fingered the keyboard and missed the thread I wanted to post in - thanks and my apologies. my post is deleted. Cheers!
  • #1,364
  • Jun 10, 2014 4:34pm Jun 10, 2014 4:34pm
Quoting deanoracer
{quote} Yeap, fat fingered the keyboard and missed the thread I wanted to post in - thanks and my apologies. my post is deleted. Cheers!
LOL - I had an idea you meant to place that in another currently popular thread !
Small disciplines repeated with consistency lead to great achievements.
  • #1,365
  • Jun 10, 2014 6:25pm Jun 10, 2014 6:25pm
Thanks Udine, 5 pip in the bank.
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  • #1,366
  • Jun 10, 2014 7:58pm Jun 10, 2014 7:58pm
I am new to this thread. Have read all posts. Very encouraging. This morning here in Japan, I took 5 pips EURJPY from 138.600, 138.500 and 138.400. Amazing. So simple. So stress-free. Lots of thanks to Udine and all others. Only thing that worries me... In case I am addicted to 5 pips profits and continue trading on and on...
  • #1,367
  • Jun 10, 2014 8:54pm Jun 10, 2014 8:54pm
Quoting mark0529
I am new to this thread. Have read all posts. Very encouraging. This morning here in Japan, I took 5 pips EURJPY from 138.600, 138.500 and 138.400. Amazing. So simple. So stress-free. Lots of thanks to Udine and all others. Only thing that worries me... In case I am addicted to 5 pips profits and continue trading on and on...
cheers to winning trades during the tokyo session, waiting for frankfurt/london open to trade....
  • #1,368
  • Jun 10, 2014 9:05pm Jun 10, 2014 9:05pm
Quoting mathprav
{quote} cheers to winning trades during the tokyo session, waiting for frankfurt/london open to trade....
Tks mathrav. I notice many guys are worried about large spreads. My spreads are EJ 0.7, GJ 1.2. It's GMO Click Securities. Due to very strict rules by Japanese financial authorities, though, only those with Japanese residency can open an account. What a shame!
  • #1,369
  • Jun 10, 2014 9:25pm Jun 10, 2014 9:25pm
Quoting mark0529
{quote} Tks mathrav. I notice many guys are worried about large spreads. My spreads are EJ 0.7, GJ 1.2. It's GMO Click Securities. Due to very strict rules by Japanese financial authorities, though, only those with Japanese residency can open an account. What a shame!
I take that because you are trading using GMO, you are thus a resident of Japan. This may sound like a silly question, but I keep finding conflicting answers, what time does one in Japan consider the Tokyo FX market open (preferably in GMT or EST)? I have seen 22:00, 23:00, and 24:00 in my searches recently. And perhaps you could answer when Sydney opens? Again, I have seen both one and two hours prior to Tokyo, which makes for a number of possible combinations.

I have only ever traded the NY/London overlap, but with my schedule, its much more relaxing to trade during the Asian sessions so I am in the process of generating some statistics concerning trading during that time frame. Only problem is, I need to figure out when that time frame really is!

Thanks -
Small disciplines repeated with consistency lead to great achievements.
  • #1,370
  • Jun 10, 2014 9:37pm Jun 10, 2014 9:37pm
Quoting mark0529
I am new to this thread. Have read all posts. Very encouraging. This morning here in Japan, I took 5 pips EURJPY from 138.600, 138.500 and 138.400. Amazing. So simple. So stress-free. Lots of thanks to Udine and all others. Only thing that worries me... In case I am addicted to 5 pips profits and continue trading on and on...

Heyyy same here! I waited for the Daily trend to show, then had two trades 1) Sell from .500 2)Sell from .400. I think key for tokyo session is to trade around 8-11am Tokyo time. After that no good movement, better to wait for London open.


Up +10 pips on Demo. XD
  • #1,371
  • Jun 10, 2014 9:54pm Jun 10, 2014 9:54pm
Quoting jmflukeiii
{quote} I take that because you are trading using GMO, you are thus a resident of Japan. This may sound like a silly question, but I keep finding conflicting answers, what time does one in Japan consider the Tokyo FX market open (preferably in GMT or EST)? I have seen 22:00, 23:00, and 24:00 in my searches recently. And perhaps you could answer when Sydney opens? Again, I have seen both one and two hours prior to Tokyo, which makes for a number of possible combinations. I have only ever traded the NY/London overlap, but with my schedule, its much...
The answer is on the FF home page ... Just go to the page bottom and see the "Sessions" block.
MT4/MT5 EAs/Indicators/Alerts coder
  • #1,372
  • Edited 10:11pm Jun 10, 2014 9:57pm | Edited 10:11pm
Quoting mark0529
{quote} Tks mathrav. I notice many guys are worried about large spreads. My spreads are EJ 0.7, GJ 1.2. It's GMO Click Securities. Due to very strict rules by Japanese financial authorities, though, only those with Japanese residency can open an account. What a shame!
There are brokers available to US residents that offer ECN pass through order executions (no Dealing Desk) and HEDGING that US brokers cannot offer. Many brokers offer free indies and junk you don't need to suck you in and relieve you of your hard earned cash. Every indie you need is offered here with excellent training and chart analysis free of charge. I personally prefer low commissions that fit my scalping style and allow me to know my cost in/out up front to figure into my stops. Just my style!

Regards,
Cigarguy
Keep It Simple
  • #1,373
  • Jun 10, 2014 10:01pm Jun 10, 2014 10:01pm
Quoting jmflukeiii
{quote} I take that because you are trading using GMO, you are thus a resident of Japan. This may sound like a silly question, but I keep finding conflicting answers, what time does one in Japan consider the Tokyo FX market open (preferably in GMT or EST)? I have seen 22:00, 23:00, and 24:00 in my searches recently. And perhaps you could answer when Sydney opens? Again, I have seen both one and two hours prior to Tokyo, which makes for a number of possible combinations. I have only ever traded the NY/London overlap, but with my schedule, its much...
Your question is also my question. People at Japanese banks and securities companies traditionally start working shortly before 9 a.m., when the stock market opens. So, many traders regard 8 a.m., which is 2300 gmt, at the Tokyo forex open time. My MT4 chart , for its part, sets the Daily Open Time at 2200 GMT or 0700 Japan Time. So, I treat 2200 GMT as the Tokyo forex open time.
  • #1,374
  • Jun 10, 2014 10:28pm Jun 10, 2014 10:28pm
0 GMT is considered to be the Tokyo open.
  • #1,375
  • Jun 10, 2014 10:42pm Jun 10, 2014 10:42pm
Quoting skoda2008
0 GMT is considered to be the Tokyo open.
Yes, that's also an idea for sure. Many banks and securities firms roll up thier shutters precisely at 09:00:00 local, not even one second earlier.
  • #1,376
  • Jun 10, 2014 10:50pm Jun 10, 2014 10:50pm
Quoting skoda2008
0 GMT is considered to be the Tokyo open.
Yes that's what FF is showing on the home page.
MT4/MT5 EAs/Indicators/Alerts coder
  • #1,377
  • Jun 10, 2014 10:56pm Jun 10, 2014 10:56pm
EU Comment;

IMO, it appears as though the MM's are accumulating longs and getting ready for a bullish run up during the LS with a bounce from the RWL that will offer some good trading opportunities and green pippin. I'm watching for a cross of the daily open and green H1/D1 candles. We'll see what they have in mind and the levels will show the way !

Regards,
Cigarguy
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Keep It Simple
  • #1,378
  • Jun 10, 2014 10:59pm Jun 10, 2014 10:59pm
SL Hit, I think that during Asian Session if price moves 20 to 30 pips don't trade. Its better to wait for london open.
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  • #1,379
  • Jun 10, 2014 11:01pm Jun 10, 2014 11:01pm
Quoting mark0529
I am new to this thread. Have read all posts. Very encouraging. This morning here in Japan, I took 5 pips EURJPY from 138.600, 138.500 and 138.400. Amazing. So simple. So stress-free. Lots of thanks to Udine and all others. Only thing that worries me... In case I am addicted to 5 pips profits and continue trading on and on...

that is why the daily target, to keep the greed under control... and have a life besides trading..

Udine
Sleep less, live fast, as it aint gonna last
  • #1,380
  • Jun 10, 2014 11:02pm Jun 10, 2014 11:02pm
Good morning Udine.
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