Attachments: As simple as possible: 00 level trading

As simple as possible: 00 level trading

#2,721
Jun 16, 2014 4:56am Jun 16, 2014 4:56am

squidge42
| Joined May 2011 | Status: Trader | 45 Posts

Quoting mpillmann

Disliked

{quote} You do not need to add anything. You pay the spread, how high ever it is and go out with exactly 5 pips, if your TP is 5 pips. With higher spread, the price need to travel the asking price + spread + TP and you are done. With higher spread, you need more movement in price - thats it. With paying commissions, its different. You go out with 5 pips and pay commission, so you take a lower profit. Probably still the better results cause more trades end up in profit (+5) and not at TS (+1 or something) In other words, get your trading education...

Ignored

Thanks, yes I do know all that...I have had education day and trade swinging for a few yrs now...renko combined with dinapoli levels and RSI - don't usually need concern myself with spreads when going for 200 pips.

I've been looking at scalping recently, hence I'm here.

However the rules of the system states that the price has to break the 00 levels- when we read that it usually infers the bid price. On a buystop the trade will get triggered by the ask price then, the price does not need to have even reached the 00 to get triggered. That seems against the rules as I read them.

My question was to see what other folks have been doing.

#2,722
Jun 16, 2014 4:58am Jun 16, 2014 4:58am

Juan007
Joined Aug 2012 | Status: Trader | 1,275 Posts

fron london to ny

1 loss
3 ts
3 tp

i learn

#2,723
Edited 5:16am Jun 16, 2014 5:01am | Edited 5:16am

Juan007
Joined Aug 2012 | Status: Trader | 1,275 Posts

i start ny

gj

sell at 172.800

i need sky music

musical RAPTURE
Frederic DelaRue

its free

http://www.fredericdelarue.com/freemusic.html

#2,724
Jun 16, 2014 5:10am Jun 16, 2014 5:10am

goldcourse
| Joined Nov 2006 | Status: Go With The Randomness Of Price | 320 Posts

Quoting Udine

Disliked

{quote} as long as it works for you. I am a simple guy, so try to keep it as simple as possible Udine

Ignored

Thanks for the reply.

#2,725
Jun 16, 2014 5:15am Jun 16, 2014 5:15am

lucariga
| Joined Apr 2012 | Status: Trader | 571 Posts

Quoting squidge42

Disliked

{quote} Thanks, yes I do know all that...I have had education day and trade swinging for a few yrs now...renko combined with dinapoli levels and RSI - don't usually need concern myself with spreads when going for 200 pips. I've been looking at scalping recently, hence I'm here. However the rules of the system states that the price has to break the 00 levels- when we read that it usually infers the bid price. On a buystop the trade will get triggered by the ask price then, the price does not need to have even reached the 00 to get triggered. That...

Ignored

I think Udine wants to keep things as simple as possible, so he doesn't care about Ask price on long and Bid price on short.... He place the order and that's it.

The only thing to consider is that he has very tight spread on his broker though.

#2,726
Jun 16, 2014 5:16am Jun 16, 2014 5:16am

Udine
Joined Jul 2008 | Status: Trader | 5,763 Posts

Quoting lucariga

Disliked

{quote} I think Udine wants to keep things as simple as possible, so he doesn't care about Ask price on long and Bid price on short.... He place the order and that's it. The only thing to consider is that he has very tight spread on his broker though.

Ignored

If you want to scalp, you must try to stackk the odds in your favor, aslo the spread !!

Udine

Sleep less, live fast, as it aint gonna last

#2,727
Jun 16, 2014 5:16am Jun 16, 2014 5:16am

squidge42
| Joined May 2011 | Status: Trader | 45 Posts

Quoting mm2mm

Disliked

{quote} How big is ur spread on ej or gj? my spread aren't small either and i find it still profitable. The only issue with big spreads is that u get triggered earlier on pending orders. Sometimes this is bad as it may just touch ur pending order and then go against. Whereas a tight spread wouldn't get hit. Exits are much much easier My spread of ej is 1.5 to 2.0 But my gj is 2> but it moves more so.. --------- My ej tp was hit {image}

Ignored

spread on EJ i 3.5, GJ. 5.5..., 1.6 EU, 2.5 GU which was fine for what I was doing before, but will need a different account for this I think..esp. if want to trade GJ which I do as it moves like you say

Simon

#2,728
Jun 16, 2014 5:18am Jun 16, 2014 5:18am

squidge42
| Joined May 2011 | Status: Trader | 45 Posts

Thanks for all the replies...will look at a new tighter spread account

#2,729
Jun 16, 2014 5:18am Jun 16, 2014 5:18am

lucariga
| Joined Apr 2012 | Status: Trader | 571 Posts

Quoting Udine

Disliked

{quote} If you want to scalp, you must try to stackk the odds in your favor, aslo the spread !! Udine

Ignored

Hey Udine, maybe you missed my earlier post.... what about to post all the updated EAs, indis and templates on the very first post to keep this thread as simple as possible?

#2,730
Jun 16, 2014 5:21am Jun 16, 2014 5:21am

Udine
Joined Jul 2008 | Status: Trader | 5,763 Posts

Quoting lucariga

Disliked

{quote} Hey Udine, maybe you missed my earlier post.... what about to post all the updated EAs, indis and templates on the very first post to keep this thread as simple as possible?

Ignored

I'll see what I can do

Udine

Sleep less, live fast, as it aint gonna last