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As simple as possible: 00 level trading

  • #3,161
  • Jun 17, 2014 8:59am Jun 17, 2014 8:59am
Udine, your day starts at Frankfurt, my day starts at NY ...I wonder does it matters statistically?

RmUP and RMDN are different plus few other things...yearsturday when it is green green for you. it was green red for me...
  • #3,162
  • Jun 17, 2014 9:00am Jun 17, 2014 9:00am
so Udine when and on what basis you decide to trade beyond your daily target??.. enlighten us if there is some solid formula.. thx
Passion, Persist, Patience, Protect
  • #3,163
  • Jun 17, 2014 9:03am Jun 17, 2014 9:03am
Quoting driven18
Udine, your day starts at Frankfurt, my day starts at NY ...I wonder does it matters statistically? RmUP and RMDN are different plus few other things...yearsturday when it is green green for you. it was green red for me...
check your 1H charts over the last few weeks, you see it fast enough, if the 00 level crosses would give you 5 pips

Udine
Sleep less, live fast, as it aint gonna last
  • #3,164
  • Jun 17, 2014 9:04am Jun 17, 2014 9:04am
Quoting pgtips
{quote} but GY and EY are cross pairs i.e multiply the price of USDJPY x EURUSD = EURJPY and same for USDJPY x GBPUSD = GBPJPY so I would say better out of all GBP/EUR/USD/JPY red news
I guess other news works in his favor. He can't be wrong and after all he had formulated the system.
  • #3,165
  • Jun 17, 2014 9:06am Jun 17, 2014 9:06am
Quoting FXEmpire
so Udine when and on what basis you decide to trade beyond your daily target??.. enlighten us if there is some solid formula.. thx
when I started out, this was my "solid formula":

bonus trades only on NY market open.

there you go..

Udine
Sleep less, live fast, as it aint gonna last
  • #3,166
  • Jun 17, 2014 9:07am Jun 17, 2014 9:07am
GJ +5

Attached Image (click to enlarge)
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The best trade I ever made was my SIN for Jesus' RIGHTEOUSNESS.
  • #3,167
  • Jun 17, 2014 9:11am Jun 17, 2014 9:11am
Quoting Udine
{quote} when I started out, this was my "solid formula": bonus trades only on NY market open. there you go.. Udine
I know but you took bonus shots before the ny open.. and now your avoiding couple signals of this hour..
so i was wondering how you pick'em brother..
don't mean to pick on you.. just want to get to bottom of it based on your experience trading this method.

edit..
you see Udine.. getting to +10 with your method is very doable consistently day in day out.. and stay profitable consistently, IF you stop at daily goal.
but being profitable past daily goal with unfavorable rr 2:1 is what i find difficult and un-doable to be frank..
just want to let you know where am I coming from.
thx bud
Passion, Persist, Patience, Protect
  • #3,168
  • Jun 17, 2014 9:12am Jun 17, 2014 9:12am
Quoting mm2mm
{quote} I know...Oanda is famous for that. If ur in a trade during a news release, for whatever reason, u have to remove the sl or move it out of the way so it does not get hit. They get much much higher than 20. 20 is small. GBP and NZD pairs have spreads larger than the height of my chart, causing it to stretch...(jk exaggerated on purpose) I am doing research. I'm looking for a reliable broker that accepts us clients with small spreads and com. I'm not a fan of com thoguh..
Let me know what you find out, if you don't mind.

I'm also with Oanda and have been for over a year but have noticed a lot of instances like the one you described. Not good for small pip targets.

Did not get to BE on EJ trade this morning and ended up -10 pips. Will maybe need to modify the BE and TS settings to suite my broker. Spread was at 1.7 at the time.

Looks like a good day for just about everyone!
Remember that guy who gave up? Neither does anyone else.
  • #3,169
  • Jun 17, 2014 9:13am Jun 17, 2014 9:13am
high spread... GJ --TS
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  • #3,170
  • Jun 17, 2014 9:15am Jun 17, 2014 9:15am
Cool! Thanks!

Quoting Udine
{quote} indirectly every news affects the other currencies, but I only focus on the RED NEWS of the pairs I trade EJ: EUR & YEN red news GJ: GBP & YEN red news the only exceptions NFP and interest rates.. Udine
Outcome is not important at all, but correct technique is what only matters
  • #3,171
  • Jun 17, 2014 9:16am Jun 17, 2014 9:16am
EJ +5

Attached Image (click to enlarge)
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The best trade I ever made was my SIN for Jesus' RIGHTEOUSNESS.
  • #3,172
  • Jun 17, 2014 9:17am Jun 17, 2014 9:17am
TODAY TRADE #6 #7

GJ TS EJ TH

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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Well that's the end of my trading day today.
Not the greatest for sure but I did my best for where I'm currently at.

W 2
L 2
TS 3
Healthy, Wealthy & Steady!!
  • #3,173
  • Jun 17, 2014 9:17am Jun 17, 2014 9:17am
Quoting hugecat
{quote} Bloody resistance. I'm in, let's see.
YEah, I'm good, no need to ask
+5 EJ.
+8% in 4 days.
Those who know don't talk. Those who talk don't know.
  • #3,174
  • Jun 17, 2014 9:19am Jun 17, 2014 9:19am
Thanks for the hint!
Quoting pgtips
{quote} but GY and EY are cross pairs i.e multiply the price of USDJPY x EURUSD = EURJPY and same for USDJPY x GBPUSD = GBPJPY so I would say better out of all GBP/EUR/USD/JPY red news
Outcome is not important at all, but correct technique is what only matters
  • #3,175
  • Jun 17, 2014 9:20am Jun 17, 2014 9:20am
yes.. this time nail for EJ +5
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  • #3,176
  • Jun 17, 2014 9:20am Jun 17, 2014 9:20am
Quoting FXEmpire
{quote} I know but you took bonus shots before the ny open.. and now your avoiding couple signals of this hour.. so i was wondering how you pick'em brother.. don't mean to pick on you.. just want to get to bottom of it based on your experience trading this method. edit.. you see Udine.. getting to +10 with your method is very doable consistently day in day out.. and stay profitable consistently, IF you stop at daily goal. but being profitable past daily goal with unfavorable rr 2:1 is what i find difficult and un-doable to be frank.. just want to...

I am not picky...

wins on EJ and GJ

Udine
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Sleep less, live fast, as it aint gonna last
  • #3,177
  • Jun 17, 2014 9:21am Jun 17, 2014 9:21am
Quoting Udine
{quote} ... Edit: that is why having a tradejournal is vital if you want to succeed in forex Udine
Udine...

can you give me the example of tradejournal, the format, what doyou put there... trades, +/- , observations, reasons ?
  • #3,178
  • Jun 17, 2014 9:21am Jun 17, 2014 9:21am
Hi,

getting used to the EA WUKAR it sets hidden TP but has 2 values.

I think I have missed an explanation of how it works somewhere,

I set Hidden_TP1 to 5 pips but it did not touch my trade. I expected it to close out at 5 pips.

and I then ask myself what is hidden tp2 for, if tp1 happens there can be no tp2 as the trade will have already TP.

today
2 win, 1 loss, 3 BE+ so slightly up on the TS/BE trades.
  • #3,179
  • Jun 17, 2014 9:22am Jun 17, 2014 9:22am
Quoting Udine
{quote} I am not picky... wins on EJ and GJ Udine {image}

great so you take them all... hats off to you.. it's clear now..
Passion, Persist, Patience, Protect
  • #3,180
  • Jun 17, 2014 9:23am Jun 17, 2014 9:23am
Quoting FXEmpire
... but being profitable past daily goal with unfavorable rr 2:1 is what i find difficult and un-doable to be frank
As I said earlier in the thread, once you reached the daily goal, trade bonus with a lower risk ...
MT4/MT5 EAs/Indicators/Alerts coder
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