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As simple as possible: 00 level trading

  • #6,641
  • Jun 30, 2014 7:59pm Jun 30, 2014 7:59pm
Quoting silversurfer
China news in 8 min and 53 min can have big impact on aussie
and JPY and NZD
  • #6,642
  • Jun 30, 2014 8:05pm Jun 30, 2014 8:05pm
Quoting silversurfer
China news in 8 min and 53 min can have big impact on aussie
Yes thats for sure.....

I'm going to keep a close watch

Masterrmind.............
Master your Mind then Master your Trades
  • #6,643
  • Jun 30, 2014 8:06pm Jun 30, 2014 8:06pm
XAGUSD entry 21.050 going nicely
Whats That? you're trading What?
  • #6,644
  • Jun 30, 2014 8:14pm Jun 30, 2014 8:14pm
Quoting Qed
XAGUSD entry 21.050 going nicely
Morning Qed........

Yes onto that one it's looking strong.

Masterrmind...........
Master your Mind then Master your Trades
  • #6,645
  • Jun 30, 2014 8:18pm Jun 30, 2014 8:18pm
Quoting ericjschroed
{quote} I have been thinking about this... why did you not sell the EJ? It fits all the rules (but is really close to DO). Thanks. EDIT: nevermind I see your H1 started below, where mine started above 138.70
Other than the open being below it, there are a couple other things about this trade that Udine has mentioned before
- 1) I don't like trading right next to the open line and
- 2) correlation. I placed the EJ trade once I saw everything else moving - without all that other action, I would have left it alone -
Small disciplines repeated with consistency lead to great achievements.
  • #6,646
  • Jun 30, 2014 8:21pm Jun 30, 2014 8:21pm
morning MM , ur doing ok by looks of things
Whats That? you're trading What?
  • #6,647
  • Jun 30, 2014 8:26pm Jun 30, 2014 8:26pm
Quoting Qed
morning MM , ur doing ok by looks of things
Yes Qed,

You will find (as you most likely already have!) that you need to use some personal judgement (common market sense) when deciding to place an order.

Selective if you like (you can't eliminate all loses but you sure can minimize them).

I have no complaints at all it's working well.

Masterrmind............
Master your Mind then Master your Trades
  • #6,648
  • Jun 30, 2014 8:31pm Jun 30, 2014 8:31pm
yeh , I like to take quick profits on spi etc if they moving ,you can always re-enter with profits but you cant reneter if uve lost ur dough ...LOL
Whats That? you're trading What?
  • #6,649
  • Jun 30, 2014 8:34pm Jun 30, 2014 8:34pm
@Qed

It's market sense like jmflukeiii mentioned above in post #6648 that makes a big difference and the more you trade the easier you notice all the little things. It makes an impact on your trading account that's for sure.

Masterrmind...........
Master your Mind then Master your Trades
  • #6,650
  • Jun 30, 2014 8:39pm Jun 30, 2014 8:39pm
this system/method is the best Icome across in my time on forex thanx Udine
Whats That? you're trading What?
  • #6,651
  • Jun 30, 2014 8:50pm Jun 30, 2014 8:50pm
Quoting Qed
this system/method is the best Icome across in my time on forex thanx Udine
I think new traders that hit this thread first are very lucky because they are going to get everything laid out for them with instructions and it is a simple method to follow but it's simplicity is it's brilliance because the template of this system looks great on the chart you can see everything and it's not overcrowded with junk you never ever really use.

Market sense will come with experience meaning that with time you can iron out any of the little problems you find along the way and in the end you have a great system that works well if you follow the rules in general.

And you didn't pay 1 cent for it...........

Masterrmind..........
Master your Mind then Master your Trades
  • #6,652
  • Jun 30, 2014 8:54pm Jun 30, 2014 8:54pm
Quoting jmflukeiii
{quote} What exchange? NYSE and NASDAQ open at 9:30 EST. NY Forex "open" at 8:00 EST. CME 'open' at all sorts of times depending on the commodity and whether you are talking Open Outcry or Globex. Currency futures Open Outcry starts at 8:20 EST.

NYSE opens at 9:30est. But US market itself opens at 8:15 to 8:30 just depends what you mean as open. Some bonds ,CME etc open at 8:30ish thats why some mornings you see a early move.
  • #6,653
  • Jun 30, 2014 8:56pm Jun 30, 2014 8:56pm
Quoting turboguru
{quote} NYSE opens at 9:30est. But US market itself opens at 8:15 to 8:30 just depends what you mean as open. Some bonds ,CME etc open at 8:30ish thats why some mornings you see a early move.
Yes, I was asking what you were referring to in particular. "US Market" is rather general as there are a number of them -
Small disciplines repeated with consistency lead to great achievements.
  • #6,654
  • Jun 30, 2014 8:56pm Jun 30, 2014 8:56pm
Quoting jmflukeiii
{quote} EJ Bonus - {image}

Some nice trades for asia
  • #6,655
  • Jun 30, 2014 9:03pm Jun 30, 2014 9:03pm
Hi

can someone tell me what is the latest rule or indicators for this system please?Thanks in advance
  • #6,656
  • Jun 30, 2014 9:08pm Jun 30, 2014 9:08pm
Quoting Masterrmind
{quote} I think new traders that hit this thread first are very lucky because they are going to get everything laid out for them with instructions and it is a simple method to follow but it's simplicity is it's brilliance because the template of this system looks great on the chart you can see everything and it's not overcrowded with junk you never ever really use. Market sense will come with experience meaning that with time you can iron out any of the little problems you find along the way and in the end you have a great system that works well...
I believe this should still be a big challenge to make consistent profit, even with this SIMPLE-WELL-DEFINEDsystem.
No matter new trader or old trader.
Outcome is not important at all, but correct technique is what only matters
  • #6,657
  • Jun 30, 2014 9:11pm Jun 30, 2014 9:11pm
Quoting Masterrmind
{quote} I think new traders that hit this thread first are very lucky because they are going to get everything laid out for them with instructions and it is a simple method to follow but it's simplicity is it's brilliance because the template of this system looks great on the chart you can see everything and it's not overcrowded with junk you never ever really use. Market sense will come with experience meaning that with time you can iron out any of the little problems you find along the way and in the end you have a great system that works well...
Too true, and hopefully they won't have to un-learn some bad habits (I can put my hand up here coz i got some habits that need to be dropped)
  • #6,658
  • Jun 30, 2014 9:12pm Jun 30, 2014 9:12pm
Quoting turboguru
{quote} Some nice trades for asia
I think you guys have convinced me to go Asian. As a relative newbie I stuck it out on the London Calling for a couple of weeks just to learn Udine's system, but being West Coast Canada, that put the start at midnight for me. I still have a day job and family life so that was a killer.

I'm doing well in Tokyo this evening, risking just 1% positions to get my bearings.

Thanks!
GA +5.
Attached Image
  • #6,659
  • Jun 30, 2014 9:13pm Jun 30, 2014 9:13pm
Quoting turboguru
{quote} Exchange Opens at 9est
Ny Stock Market, CBOE, CME are open for business at 9:30.....that means all currency futures pits begin the trading session, if you watch daily, you will see how they effect the forex market during the first half hour of trading, huge momentum burst starts then...yes they trade 24/7 on the globex but the real action begins at the opening bell...
  • #6,660
  • Jun 30, 2014 9:15pm Jun 30, 2014 9:15pm
GJ +>5 TP

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


Note: buy limit executed based on expected upward continuation

Masterrmind................
Master your Mind then Master your Trades
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