As simple as possible: 00 level trading | Page 308 | Forex Factory

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As simple as possible: 00 level trading

  • #6,141
  • Jun 27, 2014 8:14am Jun 27, 2014 8:14am
ea +1 be
  • #6,142
  • Jun 27, 2014 8:15am Jun 27, 2014 8:15am
Dont misunderstand me I know where PJ is coming from, we all go through that phase...

But the answer is not lying in seeing the live account of another trader...

it takes hard work...

Udine
Sleep less, live fast, as it aint gonna last
  • #6,143
  • Jun 27, 2014 8:17am Jun 27, 2014 8:17am
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...

now here is a smart guy talking

Udine
Sleep less, live fast, as it aint gonna last
  • #6,144
  • Jun 27, 2014 8:20am Jun 27, 2014 8:20am
Quoting Qed
1 more thing demo with the same amount in demo as you would put in real a/c to trade gold ,
If you can afford the money to trade a very small account you will learn far more by trading it live with a relatively small position unless your intent is purely to become familiar with the software, indicators, EA, scripts etc.

You will learn more by taking responsibility for your own trades.

Masterrmind...........
Master your Mind then Master your Trades
  • #6,145
  • Jun 27, 2014 8:20am Jun 27, 2014 8:20am
Quoting Udine
{quote} 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...
I know price has to move..however we could have 6 wins and 4 losses per day for 50 % of the year...meaning a losing year
  • #6,146
  • Jun 27, 2014 8:21am Jun 27, 2014 8:21am
pj9999: I have been there and know exactly what you are going through. The key to this as I found out fast...

1. patience: Study and do the hard work of learning the tools of this trade...sprerads,m commissions etc...time to trade is equally important...Failures are inevitable...But like a good trader once we get a failed trade we need to be patient and try not to chase another trade. The "time" to trade may not be right.
2. Discipline: Do the same thing over and over again. Let stats play its part too. Dont look at your account very often. This will psyche you.
3. Focus: Focus on trading and make sure you account for your spreads etc based on the study that you did.
----------------------------------------Now comes the interesting part!
1. Belief: Self belief that it can be done...with tweaks as long as you are profitable.
2. Consistency: think of every day as a new start to your trading career...yesterday is gone.
3. Confidence: This will come once you go through the above diligently.

key: Not to overtrade. Stop at 2-3 trades in a session. 2 wins 1 loss is 0 percent. I hate that. I prefer to take 2 trades per session. shut and forget till next session. Tokyo/london/Newyork...max potential 12 trades. thats plenty. I trade Tokyo and New york due to time zone. If I make even 1 percent on average per day using the 4 trading opportunities....I will consider myself blessed!!

Although I am directing this to you pj9999, I think this is more for me than for anyone else.
  • #6,147
  • Jun 27, 2014 8:27am Jun 27, 2014 8:27am
gj +5

i m in loss today
  • #6,148
  • Jun 27, 2014 8:28am Jun 27, 2014 8:28am
One more bonus trade on EA

Attached Image (click to enlarge)
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Sorry for all you guys here who couldn't fetch some Pips today.

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #6,149
  • Jun 27, 2014 8:29am Jun 27, 2014 8:29am
this goes for all of us..
Attached Image (click to enlarge)
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Sleep less, live fast, as it aint gonna last
  • #6,150
  • Jun 27, 2014 8:29am Jun 27, 2014 8:29am
Quoting Udine
{quote} would have the courage or motivation to post his/her LIVE account on MyFxBook... Maybe Udine...? (Without displaying sensitive account value, of course.) Nope... Udine
I thought so, Udine...

The concern is that many people believe that by following the "Rules" to the letter they will achieve the same 2% daily profit... Based on the above entries it is NOT necessarily so.

In other words: a bunch of discretionary factors (i.e. "right eye" and "left eye") are also involved in making this strategy profitable. So I suggest listing it at the end of the "Rules" as a DISCLAIMER.
  • #6,151
  • Jun 27, 2014 8:33am Jun 27, 2014 8:33am
Quoting Udine
{quote} has been explained in the thread.. cheers Udine
A revision of the document in post 1 explaining the rules would reduce the number of questions about the rules.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #6,152
  • Jun 27, 2014 8:34am Jun 27, 2014 8:34am
Quoting Udine
{quote} it has been mentioned several times in the thread.. Range High Range Low Udine
Please revise the document in post 1 to include definitions.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #6,153
  • Jun 27, 2014 8:36am Jun 27, 2014 8:36am
AJ TP Hit.

1 more for a days work...
Attached Image (click to enlarge)
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Now just waiting for EU long @ 1.3630
Luck is what happens when preparation meets opportunity
  • #6,154
  • Jun 27, 2014 8:36am Jun 27, 2014 8:36am
Quoting TooSlow
{quote} Please revise the document in post 1 to include definitions.

i understand where you come from, but not going to start spoonfeeding..

Udine
Sleep less, live fast, as it aint gonna last
  • #6,155
  • Jun 27, 2014 8:37am Jun 27, 2014 8:37am
9. After 4 losses stop trading for the day

the first rule that today I have not met
I have to study all weekend as my behavior was lost on this day
  • #6,156
  • Jun 27, 2014 8:40am Jun 27, 2014 8:40am
Colombia on saturday morning we triumphed to the cannibals


  • #6,157
  • Jun 27, 2014 8:43am Jun 27, 2014 8:43am
Quoting Udine
{quote} only analisys was checking if there was any news... simply check the thread I am up at least 10 % per week... flx69 was trading with me yesterday and made an easy 4 %.... no secrets, its all here.. although he thought I might do more analysis before the start of the trading day... how surprised he was that my only analisys was checking if there was any news... , besides checking if all rules applied... cheers Udine
Quoting enzo2325
You are not posting any live trades. You are not showing your take profit and stop loss levels. You don't have a trade explorer for this system. All you're doing is wasting space on here and talking as if you know what you are doing. Everyone can post charts and say look here and there. Trading live is completely different.
A criticism/challenge was posted in my thread. Once live trades with real money were posted the bashing ceased. Udine your reason for not having trade explorer?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #6,158
  • Jun 27, 2014 8:46am Jun 27, 2014 8:46am
Quoting TooSlow
{quote} {quote} A criticism/challenge was posted in my thread. Once live trades with real money were posted the bashing ceased. Udine your reason for not having trade explorer?

I dont post my live account on internet.. besides it wont make you 1 pip more..

but come over and we trade together...(2 people have already done that)

Udine

Edit: your having a trade explorer ??? (dont do it for me
Sleep less, live fast, as it aint gonna last
  • #6,159
  • Jun 27, 2014 8:47am Jun 27, 2014 8:47am
Guess best for all those new including me to review them rules each day before starting to trade.
  • #6,160
  • Jun 27, 2014 8:47am Jun 27, 2014 8:47am
Mastermind , have you noticed the majority of 15 min candles on xauusd finish or start on a sbline of 10?
Whats That? you're trading What?
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