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As simple as possible: 00 level trading

  • #3,181
  • Jun 17, 2014 9:23am Jun 17, 2014 9:23am
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..
PM me if you find, thanks!
Outcome is not important at all, but correct technique is what only matters
  • #3,182
  • Jun 17, 2014 9:24am Jun 17, 2014 9:24am
FxEmpire,

check the 1H charts and see for each hour if the first 00 level cross would have given 5 pips..

write it down for each and every hour for each pair and go back in time as far as your charts allow you..

soon you have enough information and you will get your AHA moment

I have been trading this now so long I can trade this almost with my eyes closed...

Udine
Sleep less, live fast, as it aint gonna last
  • #3,183
  • Jun 17, 2014 9:25am Jun 17, 2014 9:25am
Quoting NewToForex14
{quote} Udine... can you give me the example of tradejournal, the format, what doyou put there... trades, +/- , observations, reasons ?

use the excel file presented here in the thread, you can find in the attchments

Udine
Sleep less, live fast, as it aint gonna last
  • #3,184
  • Jun 17, 2014 9:26am Jun 17, 2014 9:26am
Quoting pgtips
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.

tp2 is not working... was a coding trial of mine, but I am lousy at coding..

Udine
Sleep less, live fast, as it aint gonna last
  • #3,185
  • Jun 17, 2014 9:27am Jun 17, 2014 9:27am
Quoting FXEmpire
{quote} great so you take them all... hats off to you.. it's clear now..
no problem, if you have questions, just ask

Udine
Sleep less, live fast, as it aint gonna last
  • #3,186
  • Jun 17, 2014 9:28am Jun 17, 2014 9:28am
Quoting FerruFx
{quote} As I said earlier in the thread, once you reached the daily goal, trade bonus with a lower risk ...
Now there is experience talking

Udine
Sleep less, live fast, as it aint gonna last
  • #3,187
  • Jun 17, 2014 9:28am Jun 17, 2014 9:28am
Quoting Udine
{quote} tp2 is not working... was a coding trial of mine, but I am lousy at coding.. Udine
ok, but should TP1 work ?

I added extra 0 for my broker, maybe this time I will leave at 5 instead of 50, maybe that is it.

PG
  • #3,188
  • Jun 17, 2014 9:29am Jun 17, 2014 9:29am
Quoting Udine
{quote} I am not picky... wins on EJ and GJ Udine {image}


i learn today ... be patient .... and you ll have a trades


i dont take those trades
  • #3,189
  • Jun 17, 2014 9:30am Jun 17, 2014 9:30am
Quoting FerruFx
{quote} As I said earlier in the thread, once you reached the daily goal, trade bonus with a lower risk ...
sure bud i know that.. but Udine takes them same risk.. I want to know where his confidence coming from to take it with same risk and hardly lose..

so I can do it too.. that's all.
Passion, Persist, Patience, Protect
  • #3,190
  • Jun 17, 2014 9:30am Jun 17, 2014 9:30am
GJ is getting closer to its december 2013 high

Udine
Sleep less, live fast, as it aint gonna last
  • #3,191
  • Jun 17, 2014 9:31am Jun 17, 2014 9:31am
Quoting pgtips
{quote} ok, but should TP1 work ? I added extra 0 for my broker, maybe this time I will leave at 5 instead of 50, maybe that is it. PG

mine works

Udine
Sleep less, live fast, as it aint gonna last
  • #3,192
  • Jun 17, 2014 9:34am Jun 17, 2014 9:34am
Quoting FXEmpire
{quote} sure bud i know that.. but Udine takes them same risk.. I want to know where his confidence coming from to take it with same risk and hardly lose.. so I can do it too.. that's all.

that is my advantage..

traded it so for long, doubled my demo twice before tradings this live

that tradingtime gave me the experience and confidence in myself and "the system"

But that did not come overnight !!!

Udine
Sleep less, live fast, as it aint gonna last
  • #3,193
  • Jun 17, 2014 9:35am Jun 17, 2014 9:35am
BTW I did do this homework:

check the 1H charts and see for each hour if the first 00 level cross would have given 5 pips..

write it down for each and every hour for each pair and go back in time as far as your charts allow you..

soon you have enough information and you will get your AHA moment

Udine
Sleep less, live fast, as it aint gonna last
  • #3,194
  • Jun 17, 2014 9:36am Jun 17, 2014 9:36am
Hi Udine,

Maybe you have explained but just want to know if there is any reason behind why you prefer to only trade EJ and GJ?

And also why NY open is only for bonus trade?

Thank you.
  • #3,195
  • Jun 17, 2014 9:37am Jun 17, 2014 9:37am
Quoting Udine
FxEmpire, check the 1H charts and see for each hour if the first 00 level cross would have given 5 pips.. write it down for each and every hour for each pair and go back in time as far as your charts allow you.. soon you have enough information and you will get your AHA moment I have been trading this now so long I can trade this almost with my eyes closed... Udine

I know Udine I can see the potential highly.. but just 1hr chart does not show some of the jerks before take offs.. so for example must get down to minute details of almost half the signals down to the 1m to see if it had gone up 3.5 then down 4 before taking of 5!!.. which is not a win and is BE
or.. goes up 2 then down 11 than up 17.. all this can and does happen in hourly candle that is not visible by just looking at it.
so your data is included in such minute detail!!.. it maybe my only concern..
of course my brother i can and should do diligence.. but since your saying about 1hr thing.. i thought mentioning it.
Passion, Persist, Patience, Protect
  • #3,196
  • Jun 17, 2014 9:38am Jun 17, 2014 9:38am
Quoting Udine
{quote} that is my advantage.. traded it so for long, doubled my demo twice before tradings this live that tradingtime gave me the experience and confidence in myself and "the system" But that did not come overnight !!! Udine

yea we need take our way to

more we have your guide is a plus (for a Time)
  • #3,197
  • Jun 17, 2014 9:38am Jun 17, 2014 9:38am
Quoting Sagramor
{quote} 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!
OK

But i'm not a big trader, and these 'reliable' brokers have high requirements to have an account with low spread (active trader/high volume type) and its not even that much different...Not like Udine has anyway

Not many options if fx brokers in US
  • #3,198
  • Jun 17, 2014 9:40am Jun 17, 2014 9:40am
Quoting mm2mm
{quote} OK But i'm not a big trader, and these 'reliable' brokers have high requirements to have an account with low spread (active trader/high volume type) and its not even that much different...Not like Udine has anyway Not many options if fx brokers in US
You are correct. The good ones require higher minimums. There was one really good one for small traders, but it was consumed by another one and transferred all their retail business to them at higher spreads. It was unfortunate.
Small disciplines repeated with consistency lead to great achievements.
  • #3,199
  • Jun 17, 2014 9:40am Jun 17, 2014 9:40am
Quoting FXEmpire
{quote} I know Udine I can see the potential highly.. but just 1hr chart does not show some of the jerks before take offs.. so got to minute almost half the signals down to the 1m to see if it had gone up 3.5 then down 4 before taking of 5!!.. or.. goes up 2 then down 11 than up 17.. all this can and does happen in hourly candle that is not visible by just looking at it. so your data is included in such minute detail!!.. it maybe my only concern.. of course my brother i can and should do diligence.. but since your saying about 1hr thing.. i thought...

agreed...

but the 1H chart analysis is only part of the job..

the 1H gives the GENERAL POTENTIAL...

next step for me was looking in detail (lower tf's) to see if they actually reached the 5 pips or not.

In general: System testing is a crappy and very timeconsuming job, but if you want to succeed, there is no alternative

Udine
Sleep less, live fast, as it aint gonna last
  • #3,200
  • Jun 17, 2014 9:43am Jun 17, 2014 9:43am
Back from the gym for the GU bonus. I'll be honest and say I was a bit concerned about this one working out. Market feels tired, time to be done with it until Tokyo [for me].
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Small disciplines repeated with consistency lead to great achievements.
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