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As simple as possible: 00 level trading

  • #6,041
  • Jun 27, 2014 4:30am Jun 27, 2014 4:30am
EA --TP

great
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  • #6,042
  • Jun 27, 2014 4:31am Jun 27, 2014 4:31am
EA +5

Happy friday, done for today.

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  • #6,043
  • Jun 27, 2014 4:45am Jun 27, 2014 4:45am
My GJ short was triggered and also my GU long

Which means I am selling and buying the pound at the same time. Would I have been better to ignore one of these. I am thinking remove the GU pair from my charts, I also wonder the same for EU and EJ, this has potential for conflict

PG
  • #6,044
  • Jun 27, 2014 4:46am Jun 27, 2014 4:46am
Quoting pgtips
My GJ short was triggered and also my GU long Which means I am selling and buying the pound at the same time. Would I have been better to ignore one of these. I am thinking remove the GU pair from my charts, I also wonder the same for EU and EJ, this has potential for conflict PG
Do not trade gu and eu if there is a valid gj or ej
  • #6,045
  • Jun 27, 2014 4:48am Jun 27, 2014 4:48am
Quoting pgtips
My GJ short was triggered and also my GU long Which means I am selling and buying the pound at the same time. Would I have been better to ignore one of these. I am thinking remove the GU pair from my charts, I also wonder the same for EU and EJ, this has potential for conflict PG

you have said something very important here....

have you, or anybody for that matter, ever analyzed what happens when pairs are in or out of sync and the results ???

Udine
Sleep less, live fast, as it aint gonna last
  • #6,046
  • Jun 27, 2014 4:48am Jun 27, 2014 4:48am
Greetings to everyone!

Could anyone please clarify the rule 2. Entry only at first 00 level in this situation. As I understand in this case I should put only sell pending order because there is no buy at .90 ? or I should also put buy pending but at the next level 106.00 ? Thank you in advance
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  • #6,047
  • Jun 27, 2014 4:48am Jun 27, 2014 4:48am
Quoting messiahua
{quote} No (i'm serious) GA sell @ 1.80700 -> TS
Thanks messiahua for your honest response...
  • #6,048
  • Jun 27, 2014 4:49am Jun 27, 2014 4:49am
Quoting Udine
{quote} have you been reading the thread, checking the charts, demo traded ??? Udine
Yes udine i have
  • #6,049
  • Jun 27, 2014 4:52am Jun 27, 2014 4:52am
Quoting pgtips
My GJ short was triggered and also my GU long Which means I am selling and buying the pound at the same time. Would I have been better to ignore one of these. I am thinking remove the GU pair from my charts, I also wonder the same for EU and EJ, this has potential for conflict PG
GJ is the worst pair for me. Losses are full. Wins are trails stops. I need to make 5 or more TSs to make up one Loss. Its better to use other 3 pairs. Enter the one that I am more confident. Also EU and GU spreads are low with my broker. Someone already mentioned spread makes the difference. Suggest not to worry on BUYING / SELLING at the same time. As long as you are winning. Today session started in the opposite directions for EUR. But when I am thinking its a good opportunity to be long on EUR/USD, I anticipate retrace in EUR/JPY. So its good to trade one at a time, rather being clueless, if they are both in the same direction. Just my sincere opinion.
  • #6,050
  • Jun 27, 2014 4:53am Jun 27, 2014 4:53am
Quoting Dufoo
Greetings to everyone! Could anyone please clarify the rule 2. Entry only at first 00 level in this situation. As I understand in this case I should put only sell pending order because there is no buy at .90 ? or I should also put buy pending but at the next level 106.00 ? Thank you in advance {image}

only short

Udine
Sleep less, live fast, as it aint gonna last
  • #6,051
  • Jun 27, 2014 4:53am Jun 27, 2014 4:53am
Quoting pj9999
{quote} Yes udine i have
and...... ??



Thanks for the answer messiahua,

I imagine what happens is they get back into sync somewhere
  • #6,052
  • Jun 27, 2014 4:54am Jun 27, 2014 4:54am
Quoting pj9999
{quote} Yes udine i have

and your results so far, improving while you test this method more ??

Udine
Sleep less, live fast, as it aint gonna last
  • #6,053
  • Jun 27, 2014 4:56am Jun 27, 2014 4:56am
Quoting Udine
{quote} you have said something very important here.... have you, or anybody for that matter, ever analyzed what happens when pairs are in or out of sync and the results ??? Udine
today all my trades are Win/TS. Mainly because Euro was out of Sync. Never had a good like today, before.
  • #6,054
  • Jun 27, 2014 4:56am Jun 27, 2014 4:56am
currently both trades are going in the "wrong" direction. Gbpusd and gbpjpy. So like this it could easily also gone in the right direction. This is no long term strategy so there should not be that stron correlation as in longer terms...my 2 cents
  • #6,055
  • Jun 27, 2014 4:57am Jun 27, 2014 4:57am
what trades did you take pannet, I have had a crushing day. Terrible losses.
  • #6,056
  • Jun 27, 2014 4:58am Jun 27, 2014 4:58am
Hi Udine,

maybe you missed my post before, try again...

EJ sell stop @ 138.000 (set when price level was > 10 pips to skip .100 lvl) is OK considering we are also near RgL=137.942 ?

Best,
bubincka
Porta itineris dicitur longissima esse
  • #6,057
  • Jun 27, 2014 4:59am Jun 27, 2014 4:59am
Quoting Udine
{quote} you have said something very important here.... have you, or anybody for that matter, ever analyzed what happens when pairs are in or out of sync and the results ??? Udine
no not really...but i think a pair like GJ is different to GU and there is no important correlation.
but its only a guess, and not proofed so far;-)
  • #6,058
  • Jun 27, 2014 5:03am Jun 27, 2014 5:03am
Quoting bubincka
Hi Udine, maybe you missed my post before, try again... EJ sell stop @ 138.000 (set when price level was > 10 pips to skip .100 lvl) is OK considering we are also near RgL=137.942 ? Best, bubincka

missed it..

nope.. not ok...

Udine
Sleep less, live fast, as it aint gonna last
  • #6,059
  • Jun 27, 2014 5:07am Jun 27, 2014 5:07am
Quoting Udine
{quote} and your results so far, improving while you test this method more ?? Udine
I have traded this method since the post started and i am down €200 odd...I have followed the rules exactly for the last 2 weeks and i am still losing although not as much...broker fine with spread=0.8 gbp/jpy plus commission of €4.30/lot traded which is not bad..the big problem is the 3.5 pip trailing stop almost always get stopped out and then to realize that the trade finally went in my favor ..?
  • #6,060
  • Jun 27, 2014 5:07am Jun 27, 2014 5:07am
Udine, why is a sell ej at 138.00 not Ok? No rule violeated
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