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As simple as possible: 00 level trading

  • #2,581
  • Jun 16, 2014 2:27am Jun 16, 2014 2:27am
EJ sell @ 137.700 -> SL
  • #2,582
  • Jun 16, 2014 2:29am Jun 16, 2014 2:29am
Quoting FerruFx
{quote} There's a rule telling to enter the 1st 00 of the hour ... You did on the 2nd 00 level ... Am I wrong ?

I did the same - second level 122.90 instead of 173.00, -10 pips.
  • #2,583
  • Jun 16, 2014 2:30am Jun 16, 2014 2:30am
Quoting FXaddicted
Udine is there any reason why you didn't take the GJ trade at 172.90. You seem to have an extra human ability to selectively pick the winners?

I only wish, but nope, the distance was soo small between the close of the 1H and the 00 level, that I need to check the close of the 1H candle and then I had already crossed the 00 level. I was simply too late... otherwise I would have lost on that one ..

Udine
Sleep less, live fast, as it aint gonna last
  • #2,584
  • Jun 16, 2014 2:31am Jun 16, 2014 2:31am
Quoting Patron
{quote} The trade was sucessfull I think the trade could reach 14 or 15 pips, but I've closed 8 pips. (I had made ​​wukar for 14 pips.) {image}
For the next hour, I think it would be interesting to monitor GBPUSD and GBPJPY, for shorts.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSD VIGILAR SHORT.PNG Size: 99 KB
Click to Enlarge Name: gbpjpy vigilar shorts.PNG Size: 100 KB
Donde hay Patron no manda Marinero
  • #2,585
  • Jun 16, 2014 2:32am Jun 16, 2014 2:32am
Quoting messiahua
EJ sell @ 137.700 -> SL

there was NO entry on the 137.700... the only correct entyr on the EJ this hour was the 137.800 !!

Udine
Sleep less, live fast, as it aint gonna last
  • #2,586
  • Jun 16, 2014 2:32am Jun 16, 2014 2:32am
Quoting messiahua
{quote} Where is such rule?
Post #2544 should be this ... if my understanding is fine.
MT4/MT5 EAs/Indicators/Alerts coder
  • #2,587
  • Jun 16, 2014 2:32am Jun 16, 2014 2:32am
Quoting messiahua
EJ sell @ 137.700 -> SL
If you took the short at 137.800 then you would have won, stopped trading for that hour and therefore not entered at 137.700.
The best trade I ever made was my SIN for Jesus' RIGHTEOUSNESS.
  • #2,588
  • Jun 16, 2014 2:34am Jun 16, 2014 2:34am
Quoting Udine
{quote} there was NO entry on the 137.700... the only correct entyr on the EJ this hour was the 137.800 !! Udine
Why no entry? I guess there is indeed the rule of entry only on the first cross of 00 in the hour?
  • #2,589
  • Jun 16, 2014 2:38am Jun 16, 2014 2:38am
Quoting FerruFx
{quote} Post #2544 should be this ... if my understanding is fine.
somehow missed that, probably should be added to first post
  • #2,590
  • Jun 16, 2014 2:41am Jun 16, 2014 2:41am
Quoting FXaddicted
Udine is there any reason why you didn't take the GJ trade at 172.90. You seem to have an extra human ability to selectively pick the winners?
Ha! Yes, even on my chart it opened too close to 172.90 but I have noticed for a long time that Udine will "accidentally" miss losing trades that I take by his rules. (He was not at the PC, or something else...) Maybe one day I will be as lucky as the Kung Fu master!
  • #2,591
  • Jun 16, 2014 2:41am Jun 16, 2014 2:41am
Quoting messiahua
{quote} somehow missed that, probably should be added to first post


I will adjust Rule 2.

2. Entry ONLY the FIRST 00 level

rule 20. remains the same

20. only 1 trade per hour

Udine
Sleep less, live fast, as it aint gonna last
  • #2,592
  • Jun 16, 2014 2:42am Jun 16, 2014 2:42am
I was going to trade EJ at London open, but price was hovering around 137.800 already and the hourly indicator was flashing red and green. Rule .17 kept me out of the trade. Was this the right choice? I know it did eventually move 10 pips in my favor. Would an pending order at 137.700 be a good idea?

Attached Image (click to enlarge)
Click to Enlarge Name: EJ.png Size: 21 KB
  • #2,593
  • Jun 16, 2014 2:42am Jun 16, 2014 2:42am
Quoting messiahua
EJ sell @ 137.700 -> SL

one trade per hour, per pair brother...
800LV was the first for the hour.. anything after that is to be avoided.
Passion, Persist, Patience, Protect
  • #2,594
  • Jun 16, 2014 2:43am Jun 16, 2014 2:43am
Quoting ericjschroed
{quote} Ha! Yes, even on my chart it opened too close to 172.90 but I have noticed for a long time that Udine will "accidentally" miss losing trades that I take by his rules. (He was not at the PC, or something else...) Maybe one day I will be as lucky as the Kung Fu master!
Sleep less, live fast, as it aint gonna last
  • #2,595
  • Jun 16, 2014 2:47am Jun 16, 2014 2:47am
Quoting Udine
{quote}
hi David Cardine..
Passion, Persist, Patience, Protect
  • #2,596
  • Jun 16, 2014 2:49am Jun 16, 2014 2:49am
Quoting Udine
{quote} oh so true.. too many people are too eager to trade Patience and discipline are vital virtues if you want to be successful in trading.. patience Grasshoppers !!!! Udine
Well said!!

Just arrived at my charts as per my "new" trade plan.
So have avoided being eaten by the Frankenmonster today as happened last week on a few occasions.

Let's see how this week goes
Healthy, Wealthy & Steady!!
  • #2,597
  • Jun 16, 2014 2:51am Jun 16, 2014 2:51am
Quoting ericjschroed
{quote} Ha! Yes, even on my chart it opened too close to 172.90 but I have noticed for a long time that Udine will "accidentally" miss losing trades that I take by his rules. (He was not at the PC, or something else...) Maybe one day I will be as lucky as the Kung Fu master!

Ok now my serious reply...

My GJ close at 172.903..

I already mentioned last week, that I want at least 1 pip between the close and the 00 level... go read up on it.. as i need the time to put on my pending orders...

I have no secrets, you of all people should know !!

So my dear friend, keep your cynicism out of this please

Udine
Sleep less, live fast, as it aint gonna last
  • #2,598
  • Jun 16, 2014 2:53am Jun 16, 2014 2:53am
Quoting Udine
{quote} I will adjust Rule 2. 2. Entry ONLY the FIRST 00 level rule 20. remains the same 20. only 1 trade per hour Udine
Grazie Udine, I understand my mistake...and thank you FerruFx to point this concept, I haven't catch it
  • #2,599
  • Jun 16, 2014 2:55am Jun 16, 2014 2:55am
Quoting FXEmpire
{quote} hi David Cardine..

dont do kung fu, but I am better looking

Udine
Sleep less, live fast, as it aint gonna last
  • #2,600
  • Jun 16, 2014 2:57am Jun 16, 2014 2:57am
Udine.. your opinion..
speaking of not trading the franky fakey.. but we also see some good winners in it's period.. so what I did I traded but with much much more tighter stop.. meaning post entry I only look for forward movement anything less than that I bail... hard sl of 5 with visual sl of about 2-3..
so i took to trades today on franky for total lost of 5 pips on both.
is this something that we can exercise or add to the rules of 1st post maybe. I know there is plenty of opportunities post london and may not need the possible agonies of the franky.. but something to think about.. bcz if franky comes positive then with looking ahead at london with some $$ in the bag could give a lot flexibility and perhaps faster to reach the daily goal or have some extra money to play for more gain.
Passion, Persist, Patience, Protect
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