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As simple as possible: 00 level trading

  • #6,321
  • Edited 4:42am Jun 29, 2014 4:06am | Edited 4:42am
Quoting Udine
{quote}
Not from a golfer...... Udine.

I'm sure, as a golfer, you know that Steve isn't telling Tiger: "Follow the rules".... Tiger knows the rules very well.

Steve is telling him: "Hey Tiger, you have 150 to the flag with left to right strong wind, so keep attention on your right, because at 130 there is a tree and a bunker...."

They are planning Tiger's next shot, but I agree is Tiger who has to swing the club, not before having planned EVERY SINGLE SHOT with his caddy though.....

Don't you think so?

That said, I know you aren't our caddy and we are not giving you 10% of our incomings as Tiger did with his caddy....(lucky him)

So your effort is REALLY appreciated by me because you gave all your rules and experience to us for FREE. You changed the way I look at a chart in just 20 days.

Can't wait to my new account (as you advise me) be funded to pull the trigger on this system.

You are the man Udine.

Many many thanks
  • #6,322
  • Edited 6:27am Jun 29, 2014 4:17am | Edited 6:27am
Quoting oztrader79
{quote} ha ha ha that is the funniest thing I've read today. Yes the bankers and brokers and the powers that be are studiously watching FF and tracking the systems proposed on the forums to knock out all those $1000 accounts.... enjoy life under the tin foil hat
Well, just keep an eye on price action over the next weeks and see how often your entry price will be touched, then moving almost straight to SL. Although probably you will not believe it, but an institutional trader told me that they were watching on forums what the "Retail" does, and they simply do the opposite. (I assume I don't have to explain the logic behind it....)

Also, I am not talking about $1000 accounts. (If you have a $1000 account to make a decent passive income from, well, it may take some time). So lets make some simple calculations:

How much passive income one would need to make life comfortable and to be able to afford some luxuries, other traditional investments, charities and save for children's future needs and retirement (as Udine)?

1. Let's say $500 per day. It is not extreme, as lawyers and plastic surgeons bill that much for an HOUR in the USA... But of course, we are not greedy US lawyers or plastic surgeons, and we are OK with their ONE HOUR income for ONE DAY.

2. Considering the "modest" $500 per or 2% goal per day means that one has to trade on a 10k account and use 5 lots per trade to achieve that. (Two 1% trades per day with 5 lots and 5 pips TP = $500, without commissions.)

3. Let say this strategy works for 100 traders each trading 5 lots (although the number of indicator downloads is 1,773 at this moment). It means that institutional traders would know the EXACT entry and exit positions for 500 "retail" lots. ("Sweeeet and easy mark...!" - they would say.)

4. So even if they had opposite interest in regard to the future price direction, they may just give a small "nudge" to the price to activate those 500 "retail" lots and then move the market according to their original interest - at least for 10 pips - to collect an easy 50k. Again if you will be looking at price action around "entry time" you will see it unfolding in real time...

Mark my words...
  • #6,323
  • Jun 29, 2014 4:37am Jun 29, 2014 4:37am
Quoting szpowerx
These are two great things i learned from Udine: - 200 pips a month consistently is good enough - 1% risk per trade, 2% target per day, you would compound your account to 50% increment within 1 month, and 10 times within 6 months
Hi Guys, I've just been taking care of a bit of business for Me.Inc, formulating a plan going forward which caused me to look over some old plans for longer term trading I had drawn up a while back. I have decided a progression is needed here to hit the 2% per day / 10% per week target, that is actually a massive profit to be targeting, when you look at what those numbers do over time it is staggering - almost any % consistently over enough time is staggering.

My point of the post is that maybe some of us need to take a look at those goals, I have reset my goals to be 4% per week until I have put 50% on my account, then I will re evaluate it and potentially shoot higher if that 4% is coming consistently. I will trade this system live at the begining of the week, at 4% up or 8% down I will stop trading live, and continue trading demo for the remainder of the week to get my chart hours up. 4% per week allows a mistake or a bad/average day. For sure my goal is to hit 2% per day, every day but I do believe the pressure of putting that on yourself early with this system is setting your self up for a fall.

Has anyone else been taking care of their business?
  • #6,324
  • Jun 29, 2014 5:15am Jun 29, 2014 5:15am
Quoting Udine
{quote} come over to Italy and trade with me (you would be the third person)... your more than welcome.. one person drove here, another one flew over... how bad do you want it??? but to be honest, with this attitude I doubt you will make it, as your focussing on the wrong things... Udine
As "Pro bono", I am focusing on shedding light on the "less shiny" aspects of this strategy.

If you meant that shedding light on these "less shiny" aspects was "focusing on the WRONG THINGS", well, it is your opinion, but I respectfully and strongly DISAGREE with it.
  • #6,325
  • Jun 29, 2014 5:25am Jun 29, 2014 5:25am
Quoting Callum
For sure my goal is to hit 2% per day, every day but I do believe the pressure of putting that on yourself early with this system is setting your self up for a fall.
I guess if the target would put you somehow nervous, that would be a big issue.

Entirely stress free, would be one of my key target.
Outcome is not important at all, but correct technique is what only matters
  • #6,326
  • Jun 29, 2014 5:45am Jun 29, 2014 5:45am
Quoting Callum
{quote} Hi Guys, I've just been taking care of a bit of business for Me.Inc, formulating a plan going forward which caused me to look over some old plans for longer term trading I had drawn up a while back. I have decided a progression is needed here to hit the 2% per day / 10% per week target, that is actually a massive profit to be targeting, when you look at what those numbers do over time it is staggering - almost any % consistently over enough time is staggering. My point of the post is that maybe some of us need to take a look at those goals,...
Being adaptable to how the market is treating you will be your key to success provided that you adapt correctly.

The rules of this system are there for a reason.....To guide traders!

Please keep us up to date with how your trading progresses.

Masterrmind............
Master your Mind then Master your Trades
  • #6,327
  • Jun 29, 2014 7:01am Jun 29, 2014 7:01am
I like the basic idea and the clear RULES (including the "burpees"...) which could be an EXCELLENT tool in the right hands.

Thanks Udine for your generosity sharing it! Even as a "news trader" IT guy I can find some valuable gems in it.
  • #6,328
  • Jun 29, 2014 7:26am Jun 29, 2014 7:26am
Hello! Looked at today's history and how it seemed to me, revealed some regularities (the attachment). Correct or add to, if that ...
Apologies for the English - Google translated
Attached File(s)
File Type: docx last candle.docx   763 KB | 609 downloads
Greed causes poverty
  • #6,329
  • Jun 29, 2014 7:46am Jun 29, 2014 7:46am
Quoting well72
Hello! Looked at today's history and how it seemed to me, revealed some regularities (the attachment). Correct or add to, if that ... Apologies for the English - Google translated {file}
Большой видеть ваш анализ распознавания образов.


Я думаю, что это является позитивным вкладом в этой теме.


Masterrmind..............
Master your Mind then Master your Trades
  • #6,330
  • Jun 29, 2014 8:05am Jun 29, 2014 8:05am
Quoting Udine
{quote} read the bloody thread !!! 1. answered in the thread 2. answered in the thread 3. I live of this, if you check my charts and simply count , you know exactly my % per day If and there is big if I make a video I wont show details of my live acccount, so what is your real issue here ?? Udine
OK i guess i know why
  • #6,331
  • Jun 29, 2014 8:09am Jun 29, 2014 8:09am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting pj9999
{quote} OK i guess i know why
You know why

If someone ask you to post your bank statement here, will you do ? Definitively not ... so your posts in this thread are more than useless.
MT4/MT5 EAs/Indicators/Alerts coder
  • #6,332
  • Jun 29, 2014 8:24am Jun 29, 2014 8:24am
Quoting pj9999
{quote} OK i guess i know why
pj9999,

Why do you persist to ask?

Surely by now you know that your request will never be met so it would be futile for you to continue in this vain...would it not?

Masterrmind..........
Master your Mind then Master your Trades
  • #6,333
  • Jun 29, 2014 8:28am Jun 29, 2014 8:28am
Quoting makamilman
You are missing several indicators. Go back to the beginning of this thread and read ALL of the first post. Install ALL of the indicators and the template files that are supplied in the "indicators.zip" file. Read Udine's Word files. READ EVERYTHING! Restart your MT4 platform, load the right pairs, load the template and start reading ALL post. You can then compare your chart to Udines's and others that have this working. Part of conquering this method is to figure things out yourself from the post and then determine how it can work for you. But...
thanks
  • #6,334
  • Jun 29, 2014 8:56am Jun 29, 2014 8:56am
Wow. I've spent 3 days solid reading from page 1 post 1 to here. Setting up my charts, learned the rules, studied the charts and questions and responses. I'm quietly excited about this whole thing. Thank you Udine with sharing this all and everyone that have made a positive contribution.

GoldCoastFX
Lets WUKAR FIFO!! - Udine
  • #6,335
  • Jun 29, 2014 9:37am Jun 29, 2014 9:37am
Quoting ferrufx
{quote} you know why If someone ask you to post your bank statement here, will you do ? Definitively not ... So your posts in this thread are more than useless.
who said anything about a bank statement???
  • #6,336
  • Jun 29, 2014 9:48am Jun 29, 2014 9:48am
Quoting pj9999
{quote} who said anything about a bank statement???
You want to see his account balance. That is similar.

It's ridiculous to ask for that.
  • #6,337
  • Jun 29, 2014 9:50am Jun 29, 2014 9:50am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting pj9999
{quote} who said anything about a bank statement???
You are requesting the same thing to him ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #6,338
  • Jun 29, 2014 9:55am Jun 29, 2014 9:55am
Let's get back on topic.....

20 pages of shit.
  • #6,339
  • Jun 29, 2014 9:55am Jun 29, 2014 9:55am
Quoting ferrufx
{quote} you are requesting the same thing to him ...
no i,m not....i was looking for him to show his account at the bottom of his trading platform each time he posts a picture of his chart
  • #6,340
  • Jun 29, 2014 10:00am Jun 29, 2014 10:00am
Quoting mpillmann
{quote} You want to see his account balance. That is similar. It's ridiculous to ask for that.
Listen forget about it we are obviously not going to agree on the reasons for doing so....discussion closed and i wont bring it up again..
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