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As simple as possible: 00 level trading

  • #2,461
  • Jun 14, 2014 7:47am Jun 14, 2014 7:47am
Quoting laurentiupbv
Hi guys, I've just finished to read all the pages of this thread, great info to learn. Thank you so much udine for shearing this system with us. For all the new comers on this thread, try to read all the pages of this thread. You will find a lot of great info and over 90% of your questions are already answered. {quote} RN - round numbers like ".000" . The distance from the round numbers should be at least 10 pips away. Have a nice weekend and see you next week.
thanks.

i did realise that RN = round number.

what I don't get is: where/when do you apply this condition of RN > 10 pips ...
  • #2,462
  • Jun 14, 2014 8:25am Jun 14, 2014 8:25am
Quoting pgd
hi udine, others. nice simple system you have there. i have a small query from post #1 of this thread. please explain what you mean by: "Distance to RN > 10 pips" thanks.
It means you do not go long at the 90 level and you do not go short at the 10 level.

Jimmy
The best trade I ever made was my SIN for Jesus' RIGHTEOUSNESS.
  • #2,463
  • Jun 14, 2014 8:28am Jun 14, 2014 8:28am
Quoting pgd
{quote} thanks. i did realise that RN = round number. what I don't get is: where/when do you apply this condition of RN > 10 pips ...
What is the first rule of the thread ?
Read the thread before asking questions!

What is the second rule of the thread?
Read the thread before asking questions!

What is the third rule of the thread?
Read the thread before asking questions!

So , please read it ...
Your answer is in post #261.
Stay green .
"Always be yourself " Batman
  • #2,464
  • Jun 14, 2014 8:29am Jun 14, 2014 8:29am
Quoting jimmynoodles
{quote} It means you do not go long at the 90 level and you do not go short at the 10 level. Jimmy
Are you sure ?
I think what you wrote is another limitation rule ?
May be this Udine rule means that the distance from any RN must be more then 10 pips bevor entry ?
Just my 2 cents ...
  • #2,465
  • Edited 10:56am Jun 14, 2014 8:31am | Edited 10:56am
pedma,

All's is good. Just changed my chart background. Thanks again for the hard work

When the mkt opens can check your indie against tpl then I can remove some of the other indies.

Cigarguy
Attached Image (click to enlarge)
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Keep It Simple
  • #2,466
  • Jun 14, 2014 9:46am Jun 14, 2014 9:46am
Quoting Moonie
Hi everyone. Just discovered this thread today, I haven't had much luck with forex so far, so fingers crossed, this is the system I have been looking for. I have included a list of the spreads with my broker below. As you will see, EURJPY is a reasonable 0.9 pips. However, GBPJPY is a rather high 3.9 pips which will make it difficult to make money. Looking at the other pairs, which one would be a good alternative? I will be mostly trading the London session. Happy trading. Moonie. EURUSD 0.7 AUDUSD 0.9 EURJPY 0.9 GBPUSD 0.9 USDCHF 0.9 USDJPY 0.9...
I was shown and taught the EURJPY is the best pair to trade based on range, volatility and activity. EURJPY is a cross of EURUSD and USDJPY. The JPY is active during the Asian session. The EUR is active during the London session. The USD is active during the US session.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,467
  • Jun 14, 2014 9:48am Jun 14, 2014 9:48am
Quoting cigarguy
Traders DO NOT Download OPEN OFFICE SUITE A Free Office Download It will install a bunch of Ad Ware Junk A Heads Up Warning! I made this mistake and it takes control of Google Chrome and is a PIA to delete! Regards. Cigarguy
The apache version of Open Office works well with no problems at all for Win 7 and Win 8.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,468
  • Jun 14, 2014 9:56am Jun 14, 2014 9:56am
Udine, you mentioned that you keep a log of every trade. Do you have a breakdown of the percentage of trades at the New York open, and if they're any more or less profitable than say the Frankfurt or London opening sessions?

CarlC
  • #2,469
  • Jun 14, 2014 9:56am Jun 14, 2014 9:56am
Quoting TooSlow
{quote} The apache version of Open Office works well with no problems at all for Win 7 and Win 8.
Thanks, I'll take a look

Cigarguy
Keep It Simple
  • #2,470
  • Jun 14, 2014 10:01am Jun 14, 2014 10:01am
Quoting DerBerliner
{quote} Are you sure ? I think what you wrote is another limitation rule ? May be this Udine rule means that the distance from any RN must be more then 10 pips bevor entry ? Just my 2 cents ...
Yes I am sure. Read the thread and you will see that Udine does not go long at a 90 level and does not go short at a 10 level.
The best trade I ever made was my SIN for Jesus' RIGHTEOUSNESS.
  • #2,471
  • Jun 14, 2014 10:08am Jun 14, 2014 10:08am
Quoting DerBerliner
{quote} Are you sure ? I think what you wrote is another limitation rule ? May be this Udine rule means that the distance from any RN must be more then 10 pips bevor entry ? Just my 2 cents ...
Actually you just need to read post 1. And not even all of it, just numbers 5,6 & 12 to find the answer.
The best trade I ever made was my SIN for Jesus' RIGHTEOUSNESS.
  • #2,472
  • Jun 14, 2014 10:11am Jun 14, 2014 10:11am
Quoting cigarguy
{quote} Thanks, I'll take a look Cigarguy
check you messages
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,473
  • Jun 14, 2014 10:15am Jun 14, 2014 10:15am
Right ! Yes, indeed - but read now number 12. "Distance to RN > 10 pips (see 3 & 4)" !
And now - reread that numbers 3 & 4:
3. Frankfurt open only .400/.500/.600 levels
4. London open all levels
So: RN stands for all round numbers not only for .900 and/or .100 !
  • #2,474
  • Jun 14, 2014 10:17am Jun 14, 2014 10:17am
  •  dlazor
  • | Joined Apr 2011 | Status: I've been on the computer how long? | 28 Posts
Quoting pedma
{quote} Hi, This is Wukar Monitor version 003...
Hello Pedma,

First, thank you for sharing this and your continuing improvements!

I was curious if you would be open to sharing the mq4 version for those of us that are interested in further enhancing/sharing/collaborating? :nerd:

If not, I totally understand, thanks again.
  • #2,475
  • Edited 11:01am Jun 14, 2014 10:40am | Edited 11:01am
Quoting flx69
{quote} @FXEmpire Thanks for your post. This is where we go beyond the "how do I get the template and the indis to work" stage. Now, from my point of view, you stuck to all the rules as outlined in Udine“s summary for your first long (unless you jumped in w/o a pending order). I am curious to know why number 1 - according to you - was not ripe for a signal ? Now, it“s true that PA was just a bit "undecided" the three candles prior to your long. Having said that, unless you“ve included additional criteria for yourself (candlestick patterns ?), I...
ok.. 1st trade, at the time I took it which was half way inside the hour and the 3rd 15min tf period we were not hourly bullish.. hourly bullish did not happen till last a few minute of the hour which technically it makes the 100 LV a no go and 200 LV good for long pending.

3rd trade is not valid simply bcz of one trade per hr per on each pair, which i think it's a great rule.. this opportunity happened in the same hour of the valid 2nd trade at 200LV.

I hope it clears away for you.
Passion, Persist, Patience, Protect
  • #2,476
  • Edited 12:00pm Jun 14, 2014 10:47am | Edited 12:00pm
thanks Pedma
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  • #2,477
  • Jun 14, 2014 11:46am Jun 14, 2014 11:46am
Thanks to all -- generous thread!
Remember that guy who gave up? Neither does anyone else.
  • #2,478
  • Jun 14, 2014 11:55am Jun 14, 2014 11:55am
Quoting FXEmpire
{quote} ok.. 1st trade, at the time I took it which was half way inside the hour and the 3rd 15min tf period we were not hourly bullish.. hourly bullish did not happen till last a few minute of the hour which technically it makes the 100 LV a no go and 200 LV good for long pending. 3rd trade is not valid simply bcz of one trade per hr per on each pair, which i think it's a great rule.. this opportunity happened in the same hour of the valid 2nd trade at 200LV. I hope it clears away for you.
Your additional explanations make it crystal clear !
I am a warned person and iwll try and not fall in the same potholes...

Thanks for clarifying and have a good weekend.
flx69
  • #2,479
  • Jun 14, 2014 4:38pm Jun 14, 2014 4:38pm
I have received PM's from new traders asking; Why do most traders here primarily trade the GBP/JPY and EUR/JPY? Well, I most certainly cannot answer for others, but I believe the best suited and easiest to understand answer can be found over at babypips. Of course, other pairs are traded as well, each trader must decide for themselves.

In summary; ( excerpts from babypips)

  1. The most popular euro crosses are the EUR/JPY, EUR/GBP, and EUR/CHF.
  2. GBP/JPY, AUD/JPY, and NZD/JPY are attractive carry trade currencies because they offer the highest interest rate differentials against the JPY.

Read more: http://www.babypips.com/school/high-...#ixzz34eP0B0Nj

Hope this leads you in the right direction and helps. All detailed explanations are offered there!
Cigarguy

Keep It Simple
  • #2,480
  • Jun 14, 2014 5:30pm Jun 14, 2014 5:30pm
Quoting Udine
{quote} Hi Surf, nice trading although not completely according to the rules.. we trade only the first 00 level, but if it works for you... Green pips Udine
Got a bit carried away to test the positive vibe and breached your rule 20 .

The positive vibe of this thread is amazing. The normal trade rules like 50% draw down of your account needs a 100% gain just to break even still apply but instead of hanging on to the rope you can also walk it to the other side. Anyhow both ways needs hand and foots but in a different way.

Most traders have the classic win ratio Risk:Reward 1:2 or 1:3 but the psychological state of mind of having more loosing trades (so feeling like a looser) but actually winning (sometimes big) over time with the trending trailers is so hard that it cracks up most of the traders and only leaves the 5% pro traders that can make a living out of it. It is still the best way in my opinion for long(er) term trending pairs.

But absorbing this positive vibe in scalping so having actually more winning than loosing trades because of the large Stop Loss (2:1) is something special.
I thank TRO for some of his indies used (don't really understand his ban) but listening to his voice lets me conclude he is not about positive vibes and momentum. In my eyes that is a million times more important then any indie produced so I thank Udine for that specially in this way of scalping.

Discipline AND money management are STILL the same as said in this thread many times approaching it from the larger amount of winning trades side to stay green. Loosing trades are the bigger worry here so any stupid ones have a larger impact on the total than the 1:2 (1:3) more loosing trades (but winning) side.

Thanks for all the contributions from all traders involved for the build 640+ compatible updates (building, testing etc) . Do some coding myself and know how time consuming it is making and thoroughly testing it. Also the other scripts and info panels..awesome! Together we can beat MetaQuotes update grills in an affordable way.

Let's walk that trading tightrope together and come out winning!

Cheers
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