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As simple as possible: 00 level trading

  • #4,501
  • Jun 20, 2014 5:31pm Jun 20, 2014 5:31pm
Quoting pannet1
{quote} Lets catch the arse hole brokers who increase the spread while we are having sex with our wive(s) :-)
Yes if you see brokers increasing spread during normal trading, that's a problem, but you can't stop spreads from increasing during news or extremely slow times. That's just reality. (And why Udine doesn't trade during news.)
  • #4,502
  • Jun 20, 2014 5:36pm Jun 20, 2014 5:36pm
P.S. I'm writing this for the people who will never read it, those that are too lazy to read a mere 200-300 page thread, and I don't mean just skimming thru it. If it was 7000 pages I could understand, but if you can't read this whole thread, you will never succeed as a trader (unless you're already successful).

Only problem I have is when I come back there are 20 more pages so I have to wait to reply until I've caught up.
  • #4,503
  • Jun 20, 2014 5:41pm Jun 20, 2014 5:41pm
WARNING: EA FOR TESTING AND LEARNING PURPOSE ONLY. NOT FOR REAL TRADING. ITS FREE AND USE IT AT YOUR OWN RISK.
================================================================================

Hi there,

I am happy to provide the release of WUKAR_WB_V1.7 EA that basically combines the two EAs WUKAR & Wheel Barrow. This is an off shoot of similar work done by Eric. I have added a bonus of Semi Automatic Market Order Buy/Sell. This is primarily for noobies, demo traders and losing traders (and all rolled into one, like me ).

You can now send Buy and Sell by deleting UP and DOWN arrows. This is more in line with WUkAR trading system because it Buys only when the Day is Green and Sells when the Day is Red. H1 is not yet implemented. In future, It should be able to send Buy and Sell Stops to the nearest round number and filter the .900 and .100 levels.

If you have seen The Rock movie, Sean Connery will teach the others how to get past the big air vent. Trading is very similar, once we do this in a testing environment, I believe your (/my) confidence will improve vastly. Imagine a simulated environment where you will be able to backtest with your own broker's data and learn to trade the system manually, without having to burn the money. The idea of deleting arrows to trigger BUY/SELL came from http://articles.mql4.com/541

Please test the EA and learn at the same time as well. Lets play the WUKAR game, seriously ... I will be back on Day 2. Please hold questions till then. I would like to thank Eric for his support during the development of this EA.

Stay Green!
Attached File(s)
File Type: zip Wukar.zip   42 KB | 755 downloads
  • #4,504
  • Jun 20, 2014 5:47pm Jun 20, 2014 5:47pm
Once spread went to the High of the previous Day and triggered my Buy Stop the next day morning. Then it went reeling down to make a big range down. Turn on the show Ask line and then you will have a good idea of spread as you can feel it. I have problems with remembering numbers and most of things (like my wife's birthday). Forget it, I do know my spread. Well this is a bad thing. But I hope the visual clue will help someone, too.
  • #4,505
  • Jun 20, 2014 11:15pm Jun 20, 2014 11:15pm
Quoting Udine
{quote} what was the close of the previous 1H candle ?? Udine
it closed at 1.36090 (ask/sell price) 10:59 gmt+3 (sorry not gmt+4). the broker is xm.com on demo acccount.


Quoting Udine
min was 1.36099, so tto close to put in a pending order.. so my pending long order would be at 1.36200 Udine
so i assume : the best practice is to pending order at the next 00 level or wait until the price reach the next 00 level and execute it manually. am i correct?


i must say that your system is the most enjoy one. i can have a good rest without worrying other things. a lot of thanks udine.
  • #4,506
  • Jun 20, 2014 11:31pm Jun 20, 2014 11:31pm
First of all I would like to congratulate Udine for being charitable with unselfishly showing fellow traders his system and spending time in helping traders understand & progress with his way of trading.

My concern is not with the R/R it is with the actual pip tallies being reported.
To receive the lowest spread available traders pay a commission, with this amount varying. I'm seeing traders on this thread reporting returns of +5 pips, +10 pips.
Is this net with commission included or gross ?
With the goal of 10 pips I'm seeing traders who have placed multiple trades during the session, due to a S/L being hit, reporting +10 pips for their trading day when their Profit/Loss account would not reflect 10 pips as reported due to the cost of commission.

It's nice to say we made +5 pips, +10 or break-even, but did we really.....?

Once again I tip my hat to Udine for his noble efforts :-)
  • #4,507
  • Jun 21, 2014 12:41am Jun 21, 2014 12:41am
Quoting pannet1
Once spread went to the High of the previous Day and triggered my Buy Stop the next day morning. Then it went reeling down to make a big range down. Turn on the show Ask line and then you will have a good idea of spread as you can feel it. I have problems with remembering numbers and most of things (like my wife's birthday). Forget it, I do know my spread. Well this is a bad thing. But I hope the visual clue will help someone, too.
I agree with the ask line. I always used it with the rip off brokers that I used ( Gonna change!) and scalping, spread was neccesary to see. I just changed the color close to background so that it wasn't so prominent. I want to thank you and Eric for sharing your hard work and knowledge.
R/R issue:- Most of the traders here know what R/R is and know the risk involved. Can't put it better than Mastermind, Pannet1 and Udine already did. I feel if you don't agree with what this system in whole offers you go and try something else.( Iam not rude..just saying) When you come back...please start reading the forum from page one. I found the people here very helpfull but some people want's it the easy way. Pop a question and someone else will go look for it. "This forum is too long to read " and " I haven't got the time" If that is your mindset my friend.....youre in the wrong place! Forex will eat you up. This takes up a lot of time and hard work> if I can read this forum over and over again ...So can you! ( If you're passionate about what you're doing you won't mind) Other people try to keep up whith this forum and can't search for your needs because youre to lazy.... The proof of the success of this system is in this forum ( If you read it!!!!) R/R is a calculated risk and been proven irrelevant. It is everyone's right to accept that and use this system as proposed or do your own thing. If you apply all your trading knowledge with this system it is second to none!
I can't contribute because all the hard work has already been done by more clever people than me but I will still try and give something back. I am busy compiling an Excell file with all the valuable answers from Udine. I'm not doing this for the lazy people.....to try and help to safe the creator of this system some time on the questions been asked over and over again! If this irretates me I can just image how he feels! My way of saying tnx!
I WILL STICK WITH YOU GUYS !!!
Thanks for everything!
Enter Signature
  • #4,508
  • Jun 21, 2014 2:00am Jun 21, 2014 2:00am
Quoting HannesN
{quote} I agree with the ask line. I always used it with the rip off brokers that I used ( Gonna change!) and scalping, spread was neccesary to see. I just changed the color close to background so that it wasn't so prominent. I want to thank you and Eric for sharing your hard work and knowledge. R/R issue:- Most of the traders here know what R/R is and know the risk involved. Can't put it better than Mastermind, Pannet1 and Udine already did. I feel if you don't agree with what this system in whole offers you go and try something else.( Iam not...
It is clear that you have your head screwed on right HannesN and I salute your passionate comments.

People like you will keep this thread alive because you bring enthusiasm and a desire to become the best trader you can and you are prepared to learn.

I wish you the greatest of success in your trading and please keep up the positive vibe....it's a blessing

Masterrmind.............
Master your Mind then Master your Trades
  • #4,509
  • Jun 21, 2014 3:20am Jun 21, 2014 3:20am
Really a beautiful thing to behold
  • #4,510
  • Jun 21, 2014 3:34am Jun 21, 2014 3:34am
Quoting ericjschroed
P.S. I'm writing this for the people who will never read it, those that are too lazy to read a mere 200-300 page thread, and I don't mean just skimming thru it. If it was 7000 pages I could understand, but if you can't read this whole thread, you will never succeed as a trader (unless you're already successful). Only problem I have is when I come back there are 20 more pages so I have to wait to reply until I've caught up.

The problem is just how fast this thread develops. If you stay away for a day and come back there are like 300 new posts.
  • #4,511
  • Jun 21, 2014 4:15am Jun 21, 2014 4:15am
Thank you Pannet1 for new Wukar.

I am surprised that people don't want to read right thru the thread, where is the keenness for learning ? Nothing worthwhile is going to drop on the lap and just start making serious money without bit of effort... I look forward and enjoy reading every day this thread and 30 new pages, this is not my hobby but living and I love it - burbees and all, thank you Udine, not only I look hot but I am making less stressful decisions by following your rules.
cheers
hannele

ps. this is not directed at you killian19, I follow you work all around the block and know how much time is required to follow and contribute in different forums you are in
  • #4,512
  • Jun 21, 2014 4:22am Jun 21, 2014 4:22am
Quoting Kilian19
{quote} The problem is just how fast this thread develops. If you stay away for a day and come back there are like 300 new posts.
That's exactly why those who have a real interest in this thread have to read each and every post from page 1. It is growing very fast for a reason : it's a gold mine ... and worth the time spent reading ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #4,513
  • Jun 21, 2014 4:28am Jun 21, 2014 4:28am
Quoting FerruFx
{quote} That's exactly why those who have a real interest in this thread have to read each and every post from page 1. It is growing very fast for a reason : it's a gold mine ... and worth the time spent reading ...
Hi FerruFX,

Any chance of shedding some light on the stats you worked (analysis candles) ?
Methodology, results, anything ?
Many thanks in advance.
  • #4,514
  • Jun 21, 2014 4:45am Jun 21, 2014 4:45am
Quoting jmflukeiii
{quote} No problem. I realized that upon modification of the sizing calculation (I have used it solely based on margin based position sizing) that I forgot to include the rounding decimal point limiter... i.e. you can't trade .101 lots, only .10 or .11. This version corrects that - I have also replaced the other post with the correct spreadsheet. {file}
I just love the Discipline% in this spreadsheet (need to work a bit on it though)
  • #4,515
  • Jun 21, 2014 4:53am Jun 21, 2014 4:53am
Quoting flx69
{quote} Hi FerruFX, Any chance of shedding some light on the stats you worked (analysis candles) ? Methodology, results, anything ? Many thanks in advance.
What are you talking about ?
MT4/MT5 EAs/Indicators/Alerts coder
  • #4,516
  • Jun 21, 2014 5:05am Jun 21, 2014 5:05am
Sorry FerruFX.
Mixed up FerruFX <-> FXEmpire.
My bad.
  • #4,517
  • Jun 21, 2014 5:59am Jun 21, 2014 5:59am
Quoting flx69
Sorry FerruFX. Mixed up FerruFX <-> FXEmpire. My bad.
Oh fine ! Same FX familly anyway ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #4,518
  • Jun 21, 2014 6:43am Jun 21, 2014 6:43am
Quoting MKFXTrader
{quote} Holding out.
Hi MXFX,

Download new current +600 demo from your provider ( or someone else depending of your needs ) while you run the pre 600 on the other account... works a treat.. I got some real and some demos pre and post 600 from different mobs, testing all sorts... . Just make sure if you have to restart that your current pre 600 is not set for automatic updates - you can turn it off manually. Nothing more annoying than be forced to upgrade while you are middle of work that won't show after upgrade..
cheers
hannele
  • #4,519
  • Jun 21, 2014 9:05am Jun 21, 2014 9:05am
Quoting FerruFx
{quote} Oh fine ! Same FX familly anyway ...
another relative here!!!
  • #4,520
  • Jun 21, 2014 9:49am Jun 21, 2014 9:49am
Quoting flx69
{quote} I just love the Discipline% in this spreadsheet (need to work a bit on it though)
Good!

For clarity, there's something that needs to be worked on in the spreadsheet, or you need to work on discipline ?
Small disciplines repeated with consistency lead to great achievements.
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