As simple as possible: 00 level trading | Page 228 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

SIMPLE EA for a simple method needed!! 2 replies

As simple as possible: RENKO M5 trading 75 replies

Trading is this Simple? Finally Explained simple and clearly! 46 replies

Simple Level Trading 1 reply

Trading: As simple as possible, but no simpler - by a real Cityboy 92 replies

Attachments: As simple as possible: 00 level trading
Exit Attachments

As simple as possible: 00 level trading

  • #4,541
  • Jun 21, 2014 10:21pm Jun 21, 2014 10:21pm
I've now entered all my trades so far into my trading log.

Here are a few basic stats for me:

Trades Taken = 38
Wins = 15
Losses = 15
B/E = 8

Mistakes = 14 trades had at least one mistake (e.g.: Wrong Lot Size Calc, EA not set up properly, Trading on Fridays (my rule), & 2 trades in 1 hour on 1 pair)

Anything else I need to track? I have attached a trade explorer to my profile so I guess that will give most of the other stats I need.
Healthy, Wealthy & Steady!!
  • #4,542
  • Jun 21, 2014 10:59pm Jun 21, 2014 10:59pm
Quoting SunnyFx2002
{quote} I just noticed that it only wants to sort alphabetically?? even though I have set it to 8 for ADR. I'll wait till the market to open to really check it. Thank you again.
Yes it has to hit 75 ticks before it sorts, so it should work fine when market is open; it works for me
  • #4,543
  • Jun 21, 2014 11:02pm Jun 21, 2014 11:02pm
Quoting Juan007
see indicator profits green thanks Udine and my work study and decision when trade or not firts thanks Udine {image}
Juan ... what is the name of the indicator on the upper right corner that tracks your trades...

thanks...
  • #4,544
  • Jun 22, 2014 2:00am Jun 22, 2014 2:00am
Quoting jmflukeiii
{quote} Nice! My other spreadsheet has the daily fills tab setup for my other brokerage (futures) so I can just copy and paste the daily fills report from the platform into there. I tried to clean it up so that it would be applicable to people with any brokerage they were using. But its much simpler if all you have to do is copy and paste, that's for sure! I will say that, one of the first things that helped me was actually using a trade tracking spreadsheet of any type - it made me think twice - "do I really want to take THIS trade and record it...
Totally agree with this. It 's just, that in combination with the script, I get less errors and the "extra" time is well spend putting in more stuff for analyzing - part of which this script seems to be able to do as well but I haven't figured out how yet. I already am my own "boss" for many years

Trade tracking seems to be one of the most neglected aspects indeed - the sexy part is how to get "in", the important part is how to get out and all the paper work....
  • #4,545
  • Jun 22, 2014 3:35am Jun 22, 2014 3:35am
Hi all..:-) very new here...my first post....will read through the whole thread as I cant even upload the indicators to the platform as yet....I am sure others may had similar issue.....this looks and feels like a very exciting system...love to have it set and tested..:-)
good to be here...cheers....:-)
  • #4,546
  • Jun 22, 2014 4:12am Jun 22, 2014 4:12am
Quoting SunnyFx2002
I've now entered all my trades so far into my trading log. Here are a few basic stats for me: Trades Taken = 38 Wins = 15 Losses = 15 B/E = 8 Mistakes = 14 trades had at least one mistake (e.g.: Wrong Lot Size Calc, EA not set up properly, Trading on Fridays (my rule), & 2 trades in 1 hour on 1 pair) Anything else I need to track? I have attached a trade explorer to my profile so I guess that will give most of the other stats I need.
Man, you must be in top shape !!!

14 mistakes * 10 burpees...

The quantity of burpees I had to do drastically decreased from day 1 logging everything manually...
  • #4,547
  • Jun 22, 2014 5:21am Jun 22, 2014 5:21am
Quoting flx69
{quote} Man, you must be in top shape !!! 14 mistakes * 10 burpees... The quantity of burpees I had to do drastically decreased from day 1 logging everything manually...
Yes, I'm not the most successful trader trading this method but I might just be the fittest.

However, I'd rather be both fit and successful thank you very much and that is my
humble responsibility for sure.

I hear you about logging trades. Will be very interesting to see how different this week is in terms
of mistakes as I have seen what I need to do now.

Green week to all this coming week.
Healthy, Wealthy & Steady!!
  • #4,548
  • Jun 22, 2014 10:15am Jun 22, 2014 10:15am
Quoting whatfx
just finished my test trades on a live account. sorry to say , but a 2:1 risk reward is still the problem. this wont cut it in the long run. even with a trailing stop. you folks need to get your head together, think about improving the r:r. iam sure there are many experienced traders here that can come up with a solution. put your brains together and think of something. a 1:2 risk reward is ideal. even a 1:1 is a good start. but as it is at the moment, it doesnt matter if you make 10 pips a day. and with a 40 pip maximum loss per day before you...
You are not wrong but instead of slating the thread why not contribute by for instance using your experience to test a 5 pip SL to see how that can or not improve this method. If it improves the system then we can all benefit and your concerns will evaporate. Remember to double your lot size since your pip exposure is halved, otherwise you are not giving the modification a fair chance.

Trade well!
When all conditions are met - Enter trade - sit back and FRET !!!
  • #4,549
  • Jun 22, 2014 10:49am Jun 22, 2014 10:49am
Quoting Udine
My first trade of this morning... GBPJPY (besides the EURJPY, the only pairs I trade)... Now waiting for the upcoming RED NEWS to settle.. {image}
Hi Udine,

I'm new & I installed your indicators into my mt4, but there seems to be some issue with the alignment, the market panel clock is missing and the trend multimeter is having alignment issue too. Attached image link (http://screencast.com/t/uR9DCuoA) for your info. Do you have the latest template for mt4 build 646?

Thanks,
Eric O.
  • #4,550
  • Jun 22, 2014 12:26pm Jun 22, 2014 12:26pm
I'm very new here and a low tech person trying to upload indies to my chart. How do I get H1 & D1 candles appear on my M15 chart pls? many thanks for your help.
Appreciation is the key to wealth and happiness
  • #4,551
  • Jun 22, 2014 12:37pm Jun 22, 2014 12:37pm
Quoting Go5
{quote} A big THANKS for this spreadsheet. Still "struggling" with adapting it for a somewhat easier data input. I cooked something with the help of a trade history script (P4L order history), pasting into a new sheet (import) and the "Daily Fills" linked to that - takes away a lot of typing! The freed up time is used to put in additional stuff like peak high and lo pips after entering a trade which could serve to fine-tune the trade management in the future. BTW: the hyperlinks to the trade screenshots do not work anymore after closing the file...
wow, a linux user probably using wine for MT4. One can paste sceeen shots in the same xls file. This way you have everything in one file. You can have additional file for every month. Just an idea. Hope this works.
  • #4,552
  • Jun 22, 2014 12:49pm Jun 22, 2014 12:49pm
Someone told take videos of your trade. Videos speaks a million words. If you so paranoid why not add voice to the video about your emotions, after trading.
  • #4,553
  • Jun 22, 2014 1:23pm Jun 22, 2014 1:23pm
Quoting pannet1
{quote} wow, a linux user probably using wine for MT4. One can paste sceeen shots in the same xls file. This way you have everything in one file. You can have additional file for every month. Just an idea. Hope this works.
Yes, using wine and sometimes virtual box. Instead of pasting screen shots I'd rather use hyperlinks but they get their pathname changed for some (esoteric?) reason...happens with gnumeric and libreoffice.
Even so, not going back to microschoft...
  • #4,554
  • Jun 22, 2014 2:49pm Jun 22, 2014 2:49pm
Quoting ongpchye
{quote} Hi Udine, I'm new & I installed your indicators into my mt4, but there seems to be some issue with the alignment, the market panel clock is missing and the trend multimeter is having alignment issue too. Attached image link (http://screencast.com/t/uR9DCuoA) for your info. Do you have the latest template for mt4 build 646? Thanks, Eric O.
Ongpchye;

Market panel clock: double click right next to the H1, then press "delete". Do the same in the black area to the right of the 173.598 in your screenshot. That´s your maket panel sorted.
You´re "missing" the anycandle indi, although this is not necessary.
The template "as is" in post one works fine, also on build 646 (I am using the same build).
All the essentials in your screenshot are there.
If you want some things moved a bit to the left, to the right, change the alignment, etc. you´re best of to go to one of the subforums where people can code tailor made stuff for you.
All the best of luck trading this method (do post your screenshots!).
flx69
  • #4,555
  • Jun 22, 2014 2:58pm Jun 22, 2014 2:58pm
Quoting likica
I'm very new here and a low tech person trying to upload indies to my chart. How do I get H1 & D1 candles appear on my M15 chart pls? many thanks for your help.
That would be the UFX trend multimeter.
Is the indi correctly placed in your indicators folder ?
Is it in the list of indicators when right clicking your chart ?
And if it is, are the indi settings correct (they should be if you didn´t touch them).
  • #4,556
  • Jun 22, 2014 3:00pm Jun 22, 2014 3:00pm
Quoting Go5
{quote} Yes, using wine and sometimes virtual box. Instead of pasting screen shots I'd rather use hyperlinks but they get their pathname changed for some (esoteric?) reason...happens with gnumeric and libreoffice. Even so, not going back to microschoft...
As for the pathname, I am using hyperlinks in the Excel sheet, pointing to a subfolder in Dropbox. No problems there...
Microschoft, nice word joke :-)
  • #4,557
  • Jun 22, 2014 3:21pm Jun 22, 2014 3:21pm
Quoting flx69
{quote} As for the pathname, I am using hyperlinks in the Excel sheet, pointing to a subfolder in Dropbox. No problems there... Microschoft, nice word joke :-)
Well, I just figured out a workaround: putting all screenshots into the worksheet folder - just like back in the '80 s...
  • #4,558
  • Jun 22, 2014 6:23pm Jun 22, 2014 6:23pm
Hello Thanks for the system
I am a bit lost with the type of order i should enter for BUY and Sell

For Buy is it Buy Stop or Buy limit
Say price is above daily open and H1 and D1 are green (Buying)

EURJPY @London open price is now at 138.70 and current price is 138.74 and next 00 level is 138.80, now spread is say 3.1 pips for EURJPY

1. Now how can i enter this pending order buy stop or buy limit and considering my spread what should be the values of my SL/Entry/TP for 138.80.

Similarly for Sell is it Sell Stop or Sell limit
Say price is below daily open and H1 and D1 are red (Selling)

EURJPY @London open price is now at 138.70 and current price is 138.66 next 00 level is 138.60, now spread is say 3.1 pips for EURJPY

2. Now how can i enter this pending order sell stop or sell limit and considering my spread what should be the values of my SL/Entry/TP for 138.60.

3. Also do we every enter market orders in this system?
Would appreciate this reply, Plz
  • #4,559
  • Jun 22, 2014 6:34pm Jun 22, 2014 6:34pm
Quoting adler
Hello Thanks for the system I am a bit lost with the type of order i should enter for BUY and Sell For Buy is it Buy Stop or Buy limit Say price is above daily open and H1 and D1 are green (Buying) EURJPY @London open price is now at 138.70 and current price is 138.74 and next 00 level is 138.80, now spread is say 3.1 pips for EURJPY 1. Now how can i enter this pending order buy stop or buy limit and considering my spread what should be the values of my SL/Entry/TP for 138.80. Similarly for Sell is it Sell Stop or Sell limit Say price is below daily...

Your buy order should be a BUY STOP at 138.80 and your sell order should be a SELL STOP at 138.60.

Green pips to all.
  • #4,560
  • Jun 22, 2014 6:51pm Jun 22, 2014 6:51pm
10 minutes to Tokyo Opening, for those that trade the Asian session, Good luck, or I should say hard work following the rules, and green pips to all.
120 traders viewing now