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As simple as possible: 00 level trading

  • #2,261
  • Jun 13, 2014 5:44am Jun 13, 2014 5:44am
Big RN Comment;

There were a few questions offered up and discussions in prior posts about trading at or around BIG RN's. Most have probably observed PA when touching or crossing the BRN on the first try. Just a FYI for the new traders to use caution with your entries because many times price will hit or break the BRN and then pullback and hit it or quickly break it again and there can be several retests. Then at other times, especially at or around news times, it will break through, like a hot knife through butter. You will, or have probably also observed that PA may hang around that area for a while do to pending orders and the bulls and bears are fighting it out !

Trading near the BRN's can lead to many pips but just a heads up to use caution.

Just my 2 cents

Regards,
Cigarguy
Keep It Simple
  • #2,262
  • Jun 13, 2014 5:51am Jun 13, 2014 5:51am
Quoting Edbegs
{quote} You may now have realized, it is not about timing your Entries. It is all about EXIT efficiency. It has nothing to do with the Entry. You can take an entry anywhere and make money.

Open a thread and show it to the world how you do it... start sharing your knowledge..

Cheers

Udine
Sleep less, live fast, as it aint gonna last
  • #2,263
  • Jun 13, 2014 5:53am Jun 13, 2014 5:53am
  •  dot
  • | Joined Mar 2011 | Status: Trader | 27 Posts | Online Now
Hi Udine,

Great thread. I have a question which may seem as having been addressed before, but I think it is slightly different. Would you consider taking a long trade at .900 if previously it has made a high exceeding the 000 or a short trade at 0.100 if it had previously gone below the 000 and retraced.

Wish you much success with this thread and of course many many green pips.

thanks
Dot
Dot
  • #2,264
  • Jun 13, 2014 5:57am Jun 13, 2014 5:57am
Quoting Edbegs
{quote} I have been trading this way since 2008. It is not about the entries and the lines. It is about bias, momentum, and volatility. The lines are a training mechanism, just to get you into the trade.
If you have operated so successfully managing the capital and you must have a million dollars.
2014 - 2008 = 6 years ... over a million, you're rich!
Adaptarse es la clave
  • #2,265
  • Jun 13, 2014 6:00am Jun 13, 2014 6:00am
Quoting Edbegs
There are underlying principles here that have yet to be explained. I think those of you trading this system could benefit, so that when market conditions change you know how to tweak this, so you can stay profitable.
Am waiting your thread to share. Mind to share your system?
  • #2,266
  • Jun 13, 2014 6:02am Jun 13, 2014 6:02am
Quoting Edbegs
There are underlying principles here that have yet to be explained. I think those of you trading this system could benefit, so that when market conditions change you know how to tweak this, so you can stay profitable.
Dont know why you should tweak this when market conditions change, as IMHO when you are able to make consistent profits when the ADR are low (and low volatility, your own words post 2255), you should not have problems either when the ADR levels (and higher volatility) are back over the 100 or even 200 levels

I am a simple guy and I know this works, so not going to complicate matters...

but please feel free to share your knowledge

Udine
Sleep less, live fast, as it aint gonna last
  • #2,267
  • Jun 13, 2014 6:03am Jun 13, 2014 6:03am
Quoting dot
Hi Udine, Great thread. I have a question which may seem as having been addressed before, but I think it is slightly different. Would you consider taking a long trade at .900 if previously it has made a high exceeding the 000 or a short trade at 0.100 if it had previously gone below the 000 and retraced. Wish you much success with this thread and of course many many green pips. thanks Dot

post 1

5. No short @ .100 level
6. No long @ .900 level

Udine
Sleep less, live fast, as it aint gonna last
  • #2,268
  • Jun 13, 2014 6:09am Jun 13, 2014 6:09am
3 in a row...nice
Could have trailed this rally but I am testing the system for % wins. These ones sure crank it up
Evening is Oz and done for the day. All happy trades and a nice weekend. Back to the soccer highlights
Attached Image (click to enlarge)
Click to Enlarge Name: 3inROW.JPG Size: 191 KB
  • #2,269
  • Jun 13, 2014 6:17am Jun 13, 2014 6:17am
1st trade of the day, sleept it out.. short eu 400LV +5 in da bag..
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.im15.png Size: 64 KB
Passion, Persist, Patience, Protect
  • #2,270
  • Jun 13, 2014 6:17am Jun 13, 2014 6:17am
hi
about us news
we have to wait 2.45 hours ?
  • #2,271
  • Jun 13, 2014 6:20am Jun 13, 2014 6:20am
Hi,

Trying to create an indicator, which i can get all information i need for Udine's great WUKAR system !! Thanks Udine.
The "commission", market hours (session: frankfurt, london, newyork, etc) & news checking (-1 hr, +30min) still not yet finish.

Thanks
-pedma
Attached Image
Attached File(s)
File Type: ex4 WukarMonitor_v001.ex4   53 KB | 414 downloads
Good friends are more valuable than gold ...
  • #2,272
  • Jun 13, 2014 6:28am Jun 13, 2014 6:28am
Quoting pedma
Hi, Trying to create an indicator, which i can get all information i need for Udine's great WUKAR system !! Thanks Udine. The "commission", market hours (session: frankfurt, london, newyork, etc) & news checking (-1 hr, +30min) still not yet finish. Thanks -pedma {image} {file}
thanks Pedma

i like
  • #2,273
  • Jun 13, 2014 6:30am Jun 13, 2014 6:30am
Quoting cigarguy
Big RN Comment; There were a few questions offered up and discussions in prior posts about trading at or around BIG RN's. Most have probably observed PA when touching or crossing the BRN on the first try. Just a FYI for the new traders to use caution with your entries because many times price will hit or break the BRN and then pullback and hit it or quickly break it again and there can be several retests. Then at other times, especially at or around news times, it will break through, like a hot knife through butter. You will, or have probably also...
UJ, Case in point; entered long (late just brought up chart) just above the BRN, not a good entry ADR reached and pre NY open, but thought a retest of RDH as shown by previous candles, but was not to happen pre NY open anyway. Trailing stop hit with a small profit (capital preservation anyway) and live to play another day.

The new WUKAR WB Trailing combo EA is working like a charm. Thanks guys for the hard work you put into its development. This trade was a test for me!

Regards,
Cigarguy
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpyim15.png Size: 102 KB
Keep It Simple
  • #2,274
  • Jun 13, 2014 6:33am Jun 13, 2014 6:33am
Quoting surf54
3 in a row...nice Could have trailed this rally but I am testing the system for % wins. These ones sure crank it up Evening is Oz and done for the day. All happy trades and a nice weekend. Back to the soccer highlights {image}
The EURAUD has been my favorite pair today.

Check it here
http://www.forexfactory.com/showthre...70#post7534270
Adaptarse es la clave
  • #2,275
  • Jun 13, 2014 6:34am Jun 13, 2014 6:34am
Hi All,

It's awesome to read so many traders making nice returns on their accounts this week.

Just wanted to let other struggling traders know and be open and honest with myself, that I haven't been able to have a green day this week.

That's fine as I expect nothing less when learning such a new way of trading for me. I've never used EAs before or Scripts even though I've traded for 3 years,
so it's great to learn about these things.

I like Udine's trading guidelines and have tried to stick with the rules but am finding myself making simple but costly mistakes.

It seems I've dug myself a hole nearly every day with a couple of losing trades early and then have to fight just to try and get near break even.

I honestly really enjoy trading this way and I have no doubt that it will make me a much better trader. I've already learned many things and hope to learn much more from the many traders here who contribute their time and knowledge.

Have a great weekend. I'll be going over my screenshots to see how many of my losing trades were mistakes that didn't follow the rules. I bet there are a few.
Healthy, Wealthy & Steady!!
  • #2,276
  • Jun 13, 2014 6:37am Jun 13, 2014 6:37am
Quoting cigarguy
{quote} UJ, Case in point; entered long (late just brought up chart) just above the BRN, not a good entry ADR reached and pre NY open, but thought a retest of RDH as shown by previous candles, but was not to happen pre NY open anyway. Trailing stop hit with a small profit (capital preservation anyway) and live to play another day. The new WUKAR WB Trailing combo EA is working like a charm. Thanks guys for the hard work you put into its development Regards, Cigarguy {image}
Thank you for explanation and information given by you. I love Cigar
  • #2,277
  • Jun 13, 2014 6:39am Jun 13, 2014 6:39am
Quoting Udine
{quote} Open a thread and show it to the world how you do it... start sharing your knowledge.. Cheers Udine
Exactly.

My predication:
two viewers... him and her.. lol
Passion, Persist, Patience, Protect
  • #2,278
  • Jun 13, 2014 6:40am Jun 13, 2014 6:40am
Quoting FXEmpire
{quote} Exactly. My predication: two viewers... him and her.. lol
Broker and Client?
  • #2,279
  • Jun 13, 2014 6:46am Jun 13, 2014 6:46am
Quoting cigarguy
{quote} UJ, Case in point; entered long (late just brought up chart) just above the BRN, not a good entry ADR reached and pre NY open, but thought a retest of RDH as shown by previous candles, but was not to happen pre NY open anyway. Trailing stop hit with a small profit (capital preservation anyway) and live to play another day. The new WUKAR WB Trailing combo EA is working like a charm. Thanks guys for the hard work you put into its development. This trade was a test for me! Regards, Cigarguy {image}
UJ, just moved up to the RDH retest I was looking for after my trailing SL hit. Timing, if only we knew what the MM's had in mind !

Regards,
Cigarguy
Keep It Simple
  • #2,280
  • Jun 13, 2014 7:12am Jun 13, 2014 7:12am
Quoting pedma
Hi, Trying to create an indicator, which i can get all information i need for Udine's great WUKAR system !! Thanks Udine. The "commission", market hours (session: frankfurt, london, newyork, etc) & news checking (-1 hr, +30min) still not yet finish. Thanks -pedma {image} {file}

great efford !!

good job

Udine
Sleep less, live fast, as it aint gonna last
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