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As simple as possible: 00 level trading

  • #1,421
  • Jun 11, 2014 2:14am Jun 11, 2014 2:14am
Quoting Udine
halfway there... EJ to TP {image}
Did you take the long trade on GJ at 171.50?
Trade Safe !
  • #1,422
  • Jun 11, 2014 2:15am Jun 11, 2014 2:15am
Quoting Udine
{quote} you have nothing else to do in your life ??? trade to live !! not vice versa !!! Udine
EUR/JPY +5

Ahhhhh well guess I will have to find other hobby when finish trading job as my daily target hit!

I was working 1 hour today,thats the life!

Regards!
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpym3.png Size: 48 KB
  • #1,423
  • Jun 11, 2014 2:15am Jun 11, 2014 2:15am
EJ and EU both TS hit both were within .5 pips to target
  • #1,424
  • Jun 11, 2014 2:18am Jun 11, 2014 2:18am
Quoting Udine
{quote} without coffee no trading and the coffee was ready so first coffee, thats all there will be plenty opportunities during the day so why rush it ??? nice and easy Udine
It seems I have a lot to learn from your easy-going style.
  • #1,425
  • Jun 11, 2014 2:18am Jun 11, 2014 2:18am
Quoting Goodgame42
{quote} Did you take the long trade on GJ at 171.50?

nope too close to a 00 level for my liking,besides my Daily open line is also there..

Udine
Sleep less, live fast, as it aint gonna last
  • #1,426
  • Jun 11, 2014 2:19am Jun 11, 2014 2:19am
This thread is a hit.. well done udine.

I read your doc on the first day and not much else after and thread is growing fast I see now.. one question had come into mind for me when I read it if you don't mind me to ask it may have been answered many times already..

for the 1hr candle confirmation would you wait for the close? .. and take trades on the 2nd hour with pending on the 1st 00 level?

regards,
empire
Passion, Persist, Patience, Protect
  • #1,427
  • Jun 11, 2014 2:19am Jun 11, 2014 2:19am
Quoting mark0529
{quote} It seems I have a lot to learn from your easy-going style.

I simply know that trading like this I will make money, so no need to rush it at all...
Sleep less, live fast, as it aint gonna last
  • #1,428
  • Jun 11, 2014 2:24am Jun 11, 2014 2:24am
Quoting Udine
halfway there... EJ to TP {image}
You mean you have not waited for 5 pips of gain?
Attached Image (click to enlarge)
Click to Enlarge Name: half.PNG Size: 360 KB
Donde hay Patron no manda Marinero
  • #1,429
  • Jun 11, 2014 2:26am Jun 11, 2014 2:26am
Quoting FXEmpire
This thread is a hit.. well done udine. I read your doc on the first day and not much else after and thread is growing fast I see now.. one question had come into mind for me when I read it if you don't mind me to ask it may have been answered many times already.. for the 1hr candle confirmation would you wait for the close? .. and take trades on the 2nd hour with pending on the 1st 00 level? regards, empire
Welcome Empire,

no you simply check the moment... so like the EJ trade of just now..

1. the 1D candle is red so we know we only trade short..
2. the previous 1H candle closed @ 138.537 (you dont care about the color of the candle)
3. as we only trade short and only the first 00 level, which is 138.500, we put in a pending order at 138.500 and then simply wait.
4. if the price goes up, the trade wont be triggered, so nothing lost there, but
5. if the price goes down, the 1H candle "magically" turns red and the trade gets triggered... It is like anticipating the pricemovement

so to answer your question, you only look at the NOW for the 1H candle, not the past

Cheers

Udine
Sleep less, live fast, as it aint gonna last
  • #1,430
  • Jun 11, 2014 2:26am Jun 11, 2014 2:26am
Quoting Patron
{quote} You mean you have not waited for 5 pips of gain? {image}

nope, halfway to the daily target

Udine
Sleep less, live fast, as it aint gonna last
  • #1,431
  • Jun 11, 2014 2:27am Jun 11, 2014 2:27am
Quoting Udine
{quote} nope too close to a 00 level for my liking,besides my Daily open line is also there.. Udine
my 1h candle close at 171.462 and Daily open at 171.443.
Cut at BreakEven GJ
Trade Safe !
  • #1,432
  • Jun 11, 2014 2:32am Jun 11, 2014 2:32am
Quoting Udine
{quote} Welcome Empire, no you simply check the moment... so like the EJ trade of just now.. 1. the 1D candle is red so we know we only trade short.. 2. the previous 1H candle closed @ 138.537 (you dont care about the color of the candle) 3. as we only trade short and only the first 00 level, which is 138.500, we put in a pending order at 138.500 and then simply wait. 4. if the price goes up, the trade wont be triggered, so nothing lost there, but 5. if the price goes down, the 1H candle "magically" turns red and the trade gets triggered... It is...

gottcha brother..
if you don't mind me asking one more question..
I did not see anything about stop loss.. but I assume it should no more than 5 or 10pips..
do you use buffer for the trigger?
do you care about the shape of of the daily candle? if it's fully bold or a just pin looking or no care at all as long as is red for short and green for long?
Passion, Persist, Patience, Protect
  • #1,433
  • Jun 11, 2014 2:34am Jun 11, 2014 2:34am
Quoting FXEmpire
{quote} gottcha brother.. if you don't mind me asking one more question.. I did not see anything about stop loss.. but I assume it should no more than 5 or 10pips.. do you use buffer for the trigger? do you care about the shape of of the daily candle? if it's fully bold or a just pin looking or no care at all as long as is red for short and green for long?

no problem..

SL = 10 pips

no buffer

dont care about the daily candle shape, only the color

Stay green

Udine
Sleep less, live fast, as it aint gonna last
  • #1,434
  • Jun 11, 2014 2:35am Jun 11, 2014 2:35am
hi guys GBP Red news Within 58mins time =D cheers
  • #1,435
  • Jun 11, 2014 2:47am Jun 11, 2014 2:47am
Quoting Udine
{quote} no problem.. SL = 10 pips no buffer dont care about the daily candle shape, only the color Stay green Udine

Thanks much for your prompt replies for my redundant questions perhaps.

Stay green as well and thanks for the welcome, I am always up for simple quick in and outs stuff.. like the saying of three quick "get", lol.. get in.. get it .. and get out..

If you don't mind as a small contribution i would like to post three indicators that I have on all my charts regardless of trading style and it's suitable to your method.. they are just servicing indicators for ADR. Timezone and such.
if in case you don't want it here let me know and I'll erase it right away.

stay green all.
Attached File(s)
File Type: ex4 Daily range.ex4   7 KB | 610 downloads
File Type: ex4 DailyData.ex4   8 KB | 554 downloads
File Type: ex4 P4L Clock.ex4   34 KB | 530 downloads
Passion, Persist, Patience, Protect
  • #1,436
  • Jun 11, 2014 2:47am Jun 11, 2014 2:47am
Quoting Udine
halfway there... EJ to TP {image}
Nice one. I placed the same PO, but decided to tweak my Wheelbarrel settings to 25 instead of 35.
Got stopped out at BE, 25īs too tight...
  • #1,437
  • Jun 11, 2014 2:47am Jun 11, 2014 2:47am
GU Long SL HIT
  • #1,438
  • Jun 11, 2014 2:49am Jun 11, 2014 2:49am
Quoting FXEmpire
{quote} Thanks much for your prompt replies for my redundant questions perhaps. Stay green as well and thanks for the welcome, I am always up for simple quick in and outs stuff.. like the saying of three quick "get", lol.. get in.. get it .. and get out.. If you don't mind as a small contribution i would like to post three indicators that I have on all my charts regardless of trading style and it's suitable to your method.. they are just servicing indicators for ADR. Timezone and such. if in case you don't want it here let me know and I'll erase...

thx

I love FIFO: Fast In Fast Out


just leave the indies here...



Udine
Sleep less, live fast, as it aint gonna last
  • #1,439
  • Jun 11, 2014 2:50am Jun 11, 2014 2:50am
so far EU +1, EJ +1 , GU -10 no more trades will wait to trade 30 mins after the news.....
  • #1,440
  • Jun 11, 2014 2:59am Jun 11, 2014 2:59am
Quoting tehO
hi guys GBP Red news Within 58mins time =D cheers
Ahh,

I had a Sell Stop Entry set up at 171.40 on GJ.
Went out and see it's now triggered but News is on the way.

Udine,
In your experience, say you make a mistake and break one of your trading rules, do you;

A: Shut the trade down soon as you realize your mistake and do 10 Burpees.
B: Let the trade play out and journal the mistake and do 10 Burpees.
C: Do 10 Burpees and then decide
D: Watch previously posted Burpees video then decide.

Cheers for any input you can offer.
Healthy, Wealthy & Steady!!
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