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As simple as possible: 00 level trading

  • #6,841
  • Jul 1, 2014 4:48am Jul 1, 2014 4:48am
GJ to TP above BRN.
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-07-01 18_44_20-.png Size: 32 KB
  • #6,842
  • Jul 1, 2014 4:50am Jul 1, 2014 4:50am
Just IMO ..if you are just starting out my thought would be 1 position,concentrate on that 1 , work out why it wins or loses , cheersQ
Whats That? you're trading What?
  • #6,843
  • Jul 1, 2014 4:52am Jul 1, 2014 4:52am
Quoting toppo qqq
GJ to TP above BRN. {image}
I did not enter as my ADR was RED...

Udine
Sleep less, live fast, as it aint gonna last
  • #6,844
  • Jul 1, 2014 4:54am Jul 1, 2014 4:54am
Quoting Qed
Just IMO ..if you are just starting out my thought would be 1 position,concentrate on that 1 , work out why it wins or loses , cheersQ
90 % of the days only two pairs are needed the get the desired results...

no need to complicate matters

Udine
Sleep less, live fast, as it aint gonna last
  • #6,845
  • Jul 1, 2014 4:55am Jul 1, 2014 4:55am
Quoting JibalaPasan
{quote} Hello toppo, I have to use mt4 too bcoz there is no such indicator showing RmUp / RmDn on Oandas Trade Station. I could calculate manually, but its much more easy to just have a look on indicator. But another gud help for me the RSI! Jibala
Thanks Jibala. You are doing very well.
T.
  • #6,846
  • Jul 1, 2014 4:57am Jul 1, 2014 4:57am
Quoting Udine
{quote} I did not enter as my ADR was RED... Udine
Thanks for your comments. Will keep that in mind...
T.
  • #6,847
  • Jul 1, 2014 4:57am Jul 1, 2014 4:57am
Udine, your system looks very simple, fascinating. But for me - what line do you consider as 00 level? First 00 level? .400 level? .500 level?
Thanks
  • #6,848
  • Jul 1, 2014 4:57am Jul 1, 2014 4:57am
yeh thats what I was getting at ..sort of ,,,, I do SPI OR XAUUSD OR dj30 ,,, 1 at a time . might be ok for youngies to have multiples ,,, bit hard for oldies LOL pmsl my 1st objective is to get down out of the tree......
Whats That? you're trading What?
  • #6,849
  • Jul 1, 2014 5:00am Jul 1, 2014 5:00am
Quoting Qed
yeh thats what I was getting at ..sort of ,,,, I do SPI OR XAUUSD OR dj30 ,,, 1 at a time . might be ok for youngies to have multiples ,,, bit hard for oldies LOL pmsl my 1st objective is to get down out of the tree......
smart, limit the focus

Udine
Sleep less, live fast, as it aint gonna last
  • #6,850
  • Jul 1, 2014 5:06am Jul 1, 2014 5:06am
Greetings,

Today for me was 1 Ts on the GJ in the morning and now GJ and EJ to Tp so for me 11.2 pips.
Green pips today

As of my dayjob at the airport (working shifts) i can only trade on my free days but until now i have managed to grow my account with 7%
  • #6,851
  • Jul 1, 2014 5:07am Jul 1, 2014 5:07am
Ill catch up with you on my overseas trip Udine, it looks like being achievable thanx to you ,
Whats That? you're trading What?
  • #6,852
  • Jul 1, 2014 5:09am Jul 1, 2014 5:09am
Quoting hollandpippin
Greetings, Today for me was 1 Ts on the GJ in the morning and now GJ and EJ to Tp so for me 11.2 pips. Green pips today As of my dayjob at the airport (working shifts) i can only trade on my free days but until now i have managed to grow my account with 7%
great work..
Sleep less, live fast, as it aint gonna last
  • #6,853
  • Jul 1, 2014 5:10am Jul 1, 2014 5:10am
Quoting Qed
Ill catch up with you on my overseas trip Udine, it looks like being achievable thanx to you ,

send over a good bottle of whisky or a few beers

Udine
Sleep less, live fast, as it aint gonna last
  • #6,854
  • Jul 1, 2014 5:12am Jul 1, 2014 5:12am
Udine, just two short questions:

1) do you trade during holidays?
2) have you a plan B if the transaction tax will come?

thx!
  • #6,855
  • Jul 1, 2014 5:13am Jul 1, 2014 5:13am
Of to the golfcourse
  • #6,856
  • Jul 1, 2014 5:17am Jul 1, 2014 5:17am
Quoting yag
Udine, just two short questions: 1) do you trade during holidays? 2) have you a plan B if the transaction tax will come? thx!

1. holidays:
August = holiday time for me

half december until 7th of januay = holiday time for me

2. taxes here in Italy were 20 % and as of today are 26 %... nothing special... prepared for that... part of doing forex business

thats it..

Udine
Sleep less, live fast, as it aint gonna last
  • #6,857
  • Jul 1, 2014 5:19am Jul 1, 2014 5:19am
Quoting Udine
{quote} 1. holidays: August = holiday time for me half december until 7th of januay = holiday time for me 2. taxes here in Italy were 20 % and as of today are 26 %... nothing special... prepared for that... part of doing forex business thats it.. Udine
thx
  • #6,858
  • Jul 1, 2014 5:19am Jul 1, 2014 5:19am
Quoting hollandpippin
Of to the golfcourse
enjoy
Sleep less, live fast, as it aint gonna last
  • #6,859
  • Jul 1, 2014 5:29am Jul 1, 2014 5:29am
Udine,
Thanks for a nice easy trading system. Have just started using it with promising results.
I have just one issue and thats with the Wheelbarrel EA which I applied today.
I normally trade longer timeframes. 1h, 2h and daily. Having placed the EA on a new chart on a new profile it immediately stopped out all my longer term trades with its 3.5pip sl.
Is there a cure for this within a single trading account? Im guess a manually applied trailing sl or a completely separate trade account.
Thanks
  • #6,860
  • Jul 1, 2014 5:35am Jul 1, 2014 5:35am
Quoting Udine
{quote} 1. holidays: August = holiday time for me half december until 7th of januay = holiday time for me 2. taxes here in Italy were 20 % and as of today are 26 %... nothing special... prepared for that... part of doing forex business thats it.. Udine
Half your luck, if you have a decent profession in Australia and are making money in forex as well then we are paying upwards of 40% to almost 50% tax... to my knowledge so far (and I havent looked really deep into it yet - as I don't make money in forex so far) there is no easy way around it... you can setup a company to run forex under, and pay company tax which is lower but if you take money out for personal use you'll be back at 40+%. 26% sounds like a dream!
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