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As simple as possible: 00 level trading

  • #6,361
  • Jun 29, 2014 6:38pm Jun 29, 2014 6:38pm
Quoting FXEmpire
at this moment Udine is probably taking down one shot after another in his local bar over Hollands unbelievable win and this piker is still asking what he is been asking..lol... wtf he might show you all just about anything after this WIN.. Congrats to Holland that was a unbelievable goal by Snider at 88 minutes, the strike almost tear the back net under pressure.. just like the way I myself used to do it.. .. c you all at London open as I intend to tear the back of the net in trading for the up coming week with a new...
Wishing you heaps of skill (a little luck) and all at the right time.....

Masterrmind..........
Master your Mind then Master your Trades
  • #6,362
  • Jun 29, 2014 6:58pm Jun 29, 2014 6:58pm
Yep Eric , didnt make any diff tried 1 tried 10 ,tried 20
Whats That? you're trading What?
  • #6,363
  • Jun 29, 2014 7:04pm Jun 29, 2014 7:04pm
Quoting NewsTrader1
@mt4fxtrader Excellent summary. Thanks for taking the time and effort compiling the results! I wonder how "Frankfurt open" would have modified the results (trading the 400-500-600 levels only)?
I don't trade the frankfurt open, but since there's interest i'll include it in my EJ backtesting
  • #6,364
  • Jun 29, 2014 7:06pm Jun 29, 2014 7:06pm
Tokyo, EA +10 pips TP
Outcome is not important at all, but correct technique is what only matters
  • #6,365
  • Jun 29, 2014 7:56pm Jun 29, 2014 7:56pm
Quoting mt4fxtrader
I'm going to start back testing EJ from april to june, and will post the results once I'm done. {image}
Hello Mt4xtrader,

You're one of the few who does his homework, congrats! Just a piece of advice (you don't have to listen to me, but I say this sincerely): you will get more out of backtesting if you focus on testing time rather than testing different pairs, especially x/JPY pairs. Here's why:

EJ and GJ both have the JPY base. If you look, both are very much correlated with each other. They share a +0.59 hourly correlation, which is really where the trading focus of this strategy lies. http://fxtrade.oanda.com/analysis/currency-correlation

If you can trade GJ from April to June, and then trade it successfully from January to June, you can be almost certain EJ will follow suit. Again, that's just my opinion. Do what seems right to you.

Best of luck!
"Serenity, you sound like a frustrated Canadian living your life in the US"
  • #6,366
  • Jun 29, 2014 8:49pm Jun 29, 2014 8:49pm
EJ +>5 TP

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 35 KB


Masterrmind...........
Master your Mind then Master your Trades
  • #6,367
  • Jun 29, 2014 8:59pm Jun 29, 2014 8:59pm
AU +>5 TP

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 37 KB


2 by TP's done for the Asian session....



Masterrmind............
Master your Mind then Master your Trades
  • #6,368
  • Jun 29, 2014 9:07pm Jun 29, 2014 9:07pm
Guys for the last week this thread jumps around 10+ pages a day or more and only a few post are charts or trades. Lot easier to learn if it's just about trading. One way to kill a thread is to have so much shit to wade through to find useful post and charts. No disrespect to anyone but please charts and trades.
  • #6,369
  • Jun 29, 2014 9:11pm Jun 29, 2014 9:11pm
Quoting turboguru
Guys for the last week this thread jumps around 10+ pages a day or more and only a few post are charts or trades. Lot easier to learn if it's just about trading. One way to kill a thread is to have so much shit to wade through to find useful post and charts. No disrespect to anyone but please charts and trades.
I trust my contribution above is much to your liking

Masterrmind............
Master your Mind then Master your Trades
  • #6,370
  • Jun 29, 2014 9:14pm Jun 29, 2014 9:14pm
Quoting Masterrmind
{quote} I trust my contribution above is much to your liking Masterrmind............
Yes very much so straight and to the point hahhahahah
  • #6,371
  • Jun 29, 2014 9:23pm Jun 29, 2014 9:23pm
Quoting Masterrmind
AU +>5 TP {image} 2 by TP's done for the Asian session.... Masterrmind............
nice!
  • #6,372
  • Jun 29, 2014 9:30pm Jun 29, 2014 9:30pm
Quoting Masterrmind
EJ +>5 TP {image} Masterrmind...........
Mastermind...A question, why didn't you take long 138.400... it was above daily open , and hourly was up...Thank you.
  • #6,373
  • Jun 29, 2014 9:34pm Jun 29, 2014 9:34pm
Quoting Masterrmind
AU +>5 TP {image} 2 by TP's done for the Asian session.... Masterrmind............
G'day mate from Qld.

Well done Masterrmind trading the Asian session. Looks like its working out well for you.

You have nice low spreads there. My spreads are 5x that. So I've been sitting on the sidelines checking out all the others success. Would you mind PM me your broker details?

How's gold going for you?

Thx

GoldCoastFX
Lets WUKAR FIFO!! - Udine
  • #6,374
  • Jun 29, 2014 9:36pm Jun 29, 2014 9:36pm
Tokyo

1st trade GJ -- TP
Attached Image (click to enlarge)
Click to Enlarge Name: Snap 2014-06-30 at 10.35.38.jpg Size: 68 KB
  • #6,375
  • Jun 29, 2014 9:42pm Jun 29, 2014 9:42pm
Quoting NewToForex14
{quote} Mastermind...A question, why didn't you take long 138.400... it was above daily open , and hourly was up...Thank you.
Great question!

It is simply that at the time PA was too close to the 138.400 level on EJ so I placed a pending long at the 138.500 level.

Take a look at the screen shot from post#6366 enlarge it and you will just be able to see my pending long order.

Sometimes I miss trades not always because of this reason but due to other factors such as PA or broker spread during the Asian session.

EDIT: I don't always start trading right at the commencement of the Asian session either, I may take a quick look but take no action until a couple of hours have passed by. It all depends on what is being presented to me on the charts.

Hope that helps.

Masterrmind...........
Master your Mind then Master your Trades
  • #6,376
  • Jun 29, 2014 9:47pm Jun 29, 2014 9:47pm
Eventually, i would trade:

- 1hr after Tokyo open

- 1hr after London open

- hr after NewYork open

At most three hours a day, what an amazing picture.

I have been searching for 5 years. I believe in, what my system lacks, I am now getting from Udine. Thanks Udine!
Outcome is not important at all, but correct technique is what only matters
  • #6,377
  • Jun 29, 2014 9:52pm Jun 29, 2014 9:52pm
Quoting szpowerx
Eventually, i would trade: - 1hr after Tokyo open - 1hr after London open - hr after NewYork open At most three hours a day, what an amazing picture. I have been searching for 5 years. I believe in, what my system lacks, I am now getting from Udine. Thanks Udine!
Looks like you are putting together all the pieces and making it work the way you want it to work.

Not everyone can have the same plan simply because of work, sleep or other commitments so each trader really needs to find the times that best suit themselves.

Udine has provided the tools .... all we need to do is to learn how to use them and make sure they're kept sharp!

Masterrmind.............
Master your Mind then Master your Trades
  • #6,378
  • Jun 29, 2014 10:35pm Jun 29, 2014 10:35pm
Quoting Masterrmind
{quote} Great question! It is simply that at the time PA was too close to the 138.400 level on EJ so I placed a pending long at the 138.500 level. Take a look at the screen shot from post#6366 enlarge it and you will just be able to see my pending long order. Sometimes I miss trades not always because of this reason but due to other factors such as PA or broker spread during the Asian session. EDIT: I don't always start trading right at the commencement of the Asian session either, I may take a quick look but take no action until a couple of hours...
Thanks ...
  • #6,379
  • Jun 29, 2014 10:44pm Jun 29, 2014 10:44pm
Quoting GoldCoastFX
{quote} G'day mate from Qld. Well done Masterrmind trading the Asian session. Looks like its working out well for you. You have nice low spreads there. My spreads are 5x that. So I've been sitting on the sidelines checking out all the others success. Would you mind PM me your broker details? How's gold going for you? Thx GoldCoastFX
Hi GoldCoastFX,

Happy to see that's been entertaining for you and although a broker with low spread is always a bonus it is not the sole reason for success or failure.

You still need to be vigilant and watch the spread like a hawk during slower trading times.

I generally start trading from the Asian session, then some of Frankfurt, London and a bit of New York if I need too!

Gold and silver are still under review and being tested..... but I'm very happy so far.... just takes extra care when taking trades.

From time to time I will post screen shots in the Asian session but when other traders are showing say EJ and GJ trades then usually I don't always post mine as it's overkill in my opinion (once you see 4 by screen shots of the same currency pair for the same trading time then I think everyone has got the message!)

Once you do your research on brokers and spreads the pro's versus cons I think this will be a great learning curve for you in terms of selecting the "right broker".

The broker that I use may not suit you and your account requirements (whatever they may be) so please choose for yourself from a multitude of different personal factors.

Best you try to attempt this yourself because that way you can depend on yourself and not others (shows responsibility for your own actions)

Good luck and all the best with your trading

Masterrmind..........
Master your Mind then Master your Trades
  • #6,380
  • Jun 29, 2014 10:46pm Jun 29, 2014 10:46pm
Quoting SerenityFX
{quote} Hello Mt4xtrader, You're one of the few who does his homework, congrats! Just a piece of advice (you don't have to listen to me, but I say this sincerely): you will get more out of backtesting if you focus on testing time rather than testing different pairs, especially x/JPY pairs. Here's why: EJ and GJ both have the JPY base. If you look, both are very much correlated with each other. They share a +0.59 hourly correlation, which is really where the trading focus of this strategy lies. http://fxtrade.oanda.com/analysis/currency-correlation...
Thank you serenity, you make a good point. I will go over jan-april data now instead of the EJ pair, to see if this system withstands the test of time.
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