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As simple as possible: 00 level trading

  • #6,121
  • Jun 27, 2014 7:42am Jun 27, 2014 7:42am
Quoting jmflukeiii
{quote} I just don't understand why you [or anyone] would think that whether or not Udine is profitable will make this work or not for you? Unfortunately, that will have nothing to do with it.
Why?If i follow all the rules like udine it should work but it is not working?what you are saying does not make sense..if udine posted the results for even the last 2 weeks that would be great to clarify my positions..Udine must be doing something different..
by the way you never answered my previous questions?
  • #6,122
  • Jun 27, 2014 7:43am Jun 27, 2014 7:43am
Quoting bubincka
Does anybody put a sell stop on GJ @ 172.500 ?
My RmDn is red currently -
Small disciplines repeated with consistency lead to great achievements.
  • #6,123
  • Jun 27, 2014 7:43am Jun 27, 2014 7:43am
Udine's rule provides me all my need:

- discipline
- stop loss control
- 00 level entry
- most important is, it is an eye-opening to showing me 5 pips per trade could make you trade successfully


Besides that, I combined S&R with Udine's rule, to make me trade easier.


So right now i feel happy. Hope you guys feel happy too.
Outcome is not important at all, but correct technique is what only matters
  • #6,124
  • Jun 27, 2014 7:44am Jun 27, 2014 7:44am
Quoting pj9999
{quote} ...so many systems out there, therefore it is impossible to test them all..Jmflukeiii are you tradingg this with a live account??if so are you profitable with this system and for how long???
Here in lies the problem with this type of thought and why people get so hung up on seeing someone's account. You may not be lazy, but you are not very creative. You studied long and hard to be an engineer. Kudos on that achievement! You can probably tell us more about rock and base and asphalt then any of us would care to know. You can tell us the process and demo it over and over, but that will not make any of us engineers. You are an engineer by training for a long time. You think everything has prescribed rules and processes. You build a road the same way every time with changes for terrain, but even then, you have a process that you follow to complete the job successfully.

Welcome to FX...the land of....different! There are no set processes here. Everything, at every moment is up for change. If you are not nimble enough to deal with that, move on. If your mind needs confirmation of someone else's account, this may not be for you. Udine has been at this for a long time and with other strategies. I say that because it is important. He understands the building blocks (which are not shown by indicators) enough to know when a trade may or may not work out on one pair versus another. For example, only one person answered his earlier correlation question. Why? Because nobody else knew the answer because nobody else has the screen time and/or experience of flexibility at this game in the way his mind sees it.

Now, here is the important part.....if you do not understand why a certain item is on the chart or how to adjust it, or why it matters, you are not ready for it. If you do not understand how PA is really what is behind this method, you are not ready for this. If you do not understand that we can all look at a Picasso painting and have different interpretations because we take in stimulus differently, then you are not ready for this.

Get creative for Heaven's sake! Maybe adding a stoch will help you. If you do not understand why, maybe you are not ready for this. Go study!! Watch a chart with daily open only on the chart. Do this for several days. Do it on ONE chart and ONE pair. Then start to add what you want piece by piece, not all at once. figure it out!!

I mean no offense to anyone but this happens in every thread but one that I can think of, and it finally meet its demise as well. It is not about the "rules", it is about the trader and what he can do with his right AND left brain. This is a whole mind occupation that mnost people will fail at because they refuse to be NIMBLE and they refuse to take the time to really learn and understand!
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #6,125
  • Jun 27, 2014 7:46am Jun 27, 2014 7:46am
Quoting pj9999
{quote} Why?If i follow all the rules like udine it should work but it is not working?what you are saying does not make sense..if udine posted the results for even the last 2 weeks that would be great to clarify my positions..Udine must be doing something different.. by the way you never answered my previous questions?
Sorry I must have missed your previous question. Yes, I am profitable in my testing of this method. Its been less than a month, and now 75 trades, which is not a lot of data points.

Udine posts his trades everyday. You could go through and tally them. Perhaps he leaves out loosing trades? Perhaps, but still irrelevant to your account. You said you did a back test of the last 4-5 months, what were the results of that? Was there a net positive outcome?
Small disciplines repeated with consistency lead to great achievements.
  • #6,126
  • Jun 27, 2014 7:48am Jun 27, 2014 7:48am
Quoting Qed
Traffex , persavere with gold its extremely good when you get it right , hell when you get it wrong tho, so tight discipline is no 1 requirement IMO

@Qed
Amen to this statement.

@ Traffex
Just be aware of the spread in your trading of Gold (same goes for silver)
It's the same old story....demo trade it first if you wish or better still trade it live using a very small position (relative to your own circumstances) so you get a feel for it!

Masterrmind..........
Master your Mind then Master your Trades
  • #6,127
  • Jun 27, 2014 7:50am Jun 27, 2014 7:50am
Quoting jmflukeiii
{quote} My RmDn is red currently -
You're right, I'm still practicing, order cancelled before it was triggered. tks.
Porta itineris dicitur longissima esse
  • #6,128
  • Jun 27, 2014 7:52am Jun 27, 2014 7:52am
Quoting capstone
{quote} Here in lies the problem with this type of thought and why people get so hung up on seeing someone's account. You may not be lazy, but you are not very creative. You studied long and hard to be an engineer. Kudos on that achievement! You can probably tell us more about rock and base and asphalt then any of us would care to know. You can tell us the process and demo it over and over, but that will not make any of us engineers. You are an engineer by training for a long time. You think everything has prescribed rules and processes. You build...
Are you using a demo account??
  • #6,129
  • Jun 27, 2014 7:53am Jun 27, 2014 7:53am
1 more thing demo with the same amount in demo as you would put in real a/c to trade gold ,
Whats That? you're trading What?
  • #6,130
  • Jun 27, 2014 7:56am Jun 27, 2014 7:56am
ea +5

hard day to me
  • #6,131
  • Jun 27, 2014 7:56am Jun 27, 2014 7:56am
Quoting jmflukeiii
{quote} Sorry I must have missed your previous question. Yes, I am profitable in my testing of this method. Its been less than a month, and now 75 trades, which is not a lot of data points. Udine posts his trades everyday. You could go through and tally them. Perhaps he leaves out loosing trades? Perhaps, but still irrelevant to your account. You said you did a back test of the last 4-5 months, what were the results of that? Was there a net positive outcome?
Are you using a demo account??
  • #6,132
  • Jun 27, 2014 7:58am Jun 27, 2014 7:58am
Quoting capstone
{quote} Here in lies the problem with this type of thought and why people get so hung up on seeing someone's account. You may not be lazy, but you are not very creative. You studied long and hard to be an engineer. Kudos on that achievement! You can probably tell us more about rock and base and asphalt then any of us would care to know. You can tell us the process and demo it over and over, but that will not make any of us engineers. You are an engineer by training for a long time. You think everything has prescribed rules and processes. You build...
well said. Udine has said he doesn't believe an EA will work for this (a good sign that the rules alone is not enough) so just saying "I follow the rules and I don't get the same result is irrelevant". As udine said use your two best indicators, your right eye and your left eye. I don't believe for a minute udine is just taking every trade that turns up, I also note he picks very well and is typically done for the day in the second hr of london session, many others are still posting trades after that. YET udine has said many times to trade it at the opens, well just because london is open doesn't mean you should be trading!... etc there is more to this than a mechanical set of rules.
  • #6,133
  • Jun 27, 2014 7:59am Jun 27, 2014 7:59am
Quoting pj9999
{quote} Are you using a demo account??
No, I do not use demo accounts.

Look, I understand your frustration. All these systems, all these claims to success, I get it. You want certainty, I do too! But it takes a lot of work, including a lot of failure.
Small disciplines repeated with consistency lead to great achievements.
  • #6,134
  • Jun 27, 2014 8:01am Jun 27, 2014 8:01am
Quoting capstone
{quote} Here in lies the problem with this type of thought and why people get so hung up on seeing someone's account. You may not be lazy, but you are not very creative. You studied long and hard to be an engineer. Kudos on that achievement! You can probably tell us more about rock and base and asphalt then any of us would care to know. You can tell us the process and demo it over and over, but that will not make any of us engineers. You are an engineer by training for a long time. You think everything has prescribed rules and processes. You build...

I agree to some of the above but at the end of the day understanding of maths is 1 loser will wipe out 2 or more winners...not very good because if this system starts to fail because say the win/loss ratio drops,then we all have a serious problem(burnt account)
  • #6,135
  • Jun 27, 2014 8:03am Jun 27, 2014 8:03am
Quoting pj9999
{quote} I agree to some of the above but at the end of the day understanding of maths is 1 loser will wipe out 2 or more winners...not very good because if this system starts to fail because say the win/loss ratio drops,then we all have a serious problem(burnt account)
Then look for a system with a ratio that makes you feel more comfortable -
Small disciplines repeated with consistency lead to great achievements.
  • #6,136
  • Jun 27, 2014 8:03am Jun 27, 2014 8:03am
Just here to wish you a good week end to all !
I'm better in pure scalping than Udine's strategy.
I prefer a Ratio 2:1 or 3:1
Attached Image (click to enlarge)
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Trade Safe !
  • #6,137
  • Jun 27, 2014 8:07am Jun 27, 2014 8:07am
EA buy @ 1.44700 (but actual order opened @ 1.44714 for some reason) -> TP
  • #6,138
  • Jun 27, 2014 8:07am Jun 27, 2014 8:07am
I asked b4 if you over sized or over traded , when I started my gold margin requirement for .01 was approx $11.00 AUD I was very happy to make $1 per deal and build bank that way ,I lost many times till I set an acheivable target ...
Whats That? you're trading What?
  • #6,139
  • Jun 27, 2014 8:09am Jun 27, 2014 8:09am
Quoting capstone
{quote} Here in lies the problem with this type of thought and why people get so hung up on seeing someone's account. You may not be lazy, but you are not very creative. You studied long and hard to be an engineer. Kudos on that achievement! You can probably tell us more about rock and base and asphalt then any of us would care to know. You can tell us the process and demo it over and over, but that will not make any of us engineers. You are an engineer by training for a long time. You think everything has prescribed rules and processes. You build...
Well said Capstone you are right!
Trading FX it is very different because many times things don't happen the way you think they should at least not very often hence the need for discipline and a mastery of risk management.

Not every trader will be successful at this because they never really truthfully commit to trading or they are always looking for the easy way out.

The secret is ............ There is no easy way! Period!
It's a hell of a path when it goes wrong and simply awesome when it goes right (a roller coaster ride of emotion)

The only ones that I believe will ever make it are those that are fully prepared to learn everything they can from 1 person.
Themselves............

ps. I do feel for pj9999 though as I come from a very similar background.

Masterrmind...............
Master your Mind then Master your Trades
  • #6,140
  • Jun 27, 2014 8:10am Jun 27, 2014 8:10am
Quoting pj9999
{quote} ..Thanks...for anyone who thinks i am being ignorant to udine i dont mean to be,i am not knocking his system and fairplay to udine it works for him...however its not working for me and thats my problem.Also i cannot backtest any further than 4-5 months...My biggest worry is when to stop following the system...and did it work a couple of years ago and will it work for the next couple of years?time will tell

have any of you an idea of how high the ADR's were say1 year ago, 6 months and how low now ???

that should tell you something..

these ADR's are low, so its more difficult to trade... If in these times you are able to be slightly negative or neutral.. with a little more PDF and BCC soon enough you will get there...

But as usual it is lack of serious analysis that makes it useless... 2 /3 weeks on demo to decide if it works for you, without any form of analysis will bring nothing... only system hopping...

and did it work a couple of years ago and will it work for the next couple of years?

price wil always move, sometimes more sometimes less, but will always cross levels...

green pips

Udine
Sleep less, live fast, as it aint gonna last
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