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As simple as possible: 00 level trading

  • #6,901
  • Jul 1, 2014 10:35am Jul 1, 2014 10:35am
Quoting JibalaPasan
2nd bonus trade on GA with a +10! This style of trading is so much amazing and stress free! {image} Will sit on my hands now, promise! Jibala
JibalaPasan, do you take only those trades, where 4h candle also is the same color? It is obvious which broker you have... are not higher spreads a problem for you?
  • #6,902
  • Jul 1, 2014 11:30am Jul 1, 2014 11:30am
Maybe we should careful to support and resistance levels
when touched this point trade can be finished .
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  • #6,903
  • Jul 1, 2014 11:31am Jul 1, 2014 11:31am
Quoting Gokay
Maybe we should careful to support and resistance levels when touched this point trade can be finished . {image} {image} {file}

NOPE !!!

Udine
Sleep less, live fast, as it aint gonna last
  • #6,904
  • Jul 1, 2014 11:34am Jul 1, 2014 11:34am
Quoting Udine
{quote} NOPE !!! Udine
OK
  • #6,905
  • Jul 1, 2014 11:42am Jul 1, 2014 11:42am
ok I am out..

Argentina - Switzerland... not happening much so far...

Cheers

Udine
Sleep less, live fast, as it aint gonna last
  • #6,906
  • Jul 1, 2014 12:28pm Jul 1, 2014 12:28pm
Quoting Selga
GJ 0, EJ +5/-10, EA 0, GA -10/+5, GU -10; -20 in total. Conclusions: It looks like it's not the best idea to place a trade near the DO, as others have remarked. Not a good idea to trade when having a headache. Now wondering about trades that should not be there Watching two pairs with one currency in common really would help to filter out some bad trades. {image} {image} {image}
what is your Broker?
  • #6,907
  • Jul 1, 2014 1:35pm Jul 1, 2014 1:35pm
Quoting ultrask
{quote} what is your Broker?
Sorry, Udine asked not to mention brokers here. Images are from demo ECN account, aussie broker. I am trying to make the same trades in live account with higher spreads (~2.4 pips GJ) and no commissions to see if spread makes very much difference. Too early to tell yet.
  • #6,908
  • Jul 1, 2014 1:38pm Jul 1, 2014 1:38pm
Ok, Udine, at the risk of looking foolish, I have to ask. If the H1 opens at 138.995, too close to buy 139.000, do you buy 139.100 or wait till next hour because 139.100 is not the first 00 level? tx
  • #6,909
  • Edited 2:02pm Jul 1, 2014 1:49pm | Edited 2:02pm
Quoting ericjschroed
Ok, Udine, at the risk of looking foolish, I have to ask. If the H1 opens at 138.995, too close to buy 139.000, do you buy 139.100 or wait till next hour because 139.100 is not the first 00 level? tx
He buys the next level (139.10 in this case) , in this hour, without waiting for the next one .
I asked him the same question a few (thousand) posts back ...
"Always be yourself " Batman
  • #6,910
  • Jul 1, 2014 2:40pm Jul 1, 2014 2:40pm
Quoting rdsl
{quote} He buys the next level (139.10 in this case) , in this hour, without waiting for the next one . I asked him the same question a few (thousand) posts back ...
Funny u should bring that up.....I had a couple losses to analyze and sure enough I skipped over that little gem in my enthusiasm.....had i not jumped in so quick both trades would have been in the money...
  • #6,911
  • Jul 1, 2014 7:24pm Jul 1, 2014 7:24pm
Morning All,

Currently in GJ long from 174.200

Pending EJ long @ 139.100 (skipped the 000 level)
Pending EJ short @ 138.900

Lets see how we progress today......

Good luck and good trading to all

Masterrmind...........
Master your Mind then Master your Trades
  • #6,912
  • Jul 1, 2014 7:25pm Jul 1, 2014 7:25pm
Quoting Masterrmind
Morning All, Currently in GJ long from 174.200 Pending EJ long @ 139.100 (skipped the 000 level) Pending EJ short @ 138.900 Lets see how we progress today...... Good luck and good trading to all Masterrmind...........
Long GJ as well - pissed I had to leave early and missed out on the GA run down earlier (still the same day for me).

BTW... the AUDs have news coming soon so being cautious with them.
Small disciplines repeated with consistency lead to great achievements.
  • #6,913
  • Jul 1, 2014 7:29pm Jul 1, 2014 7:29pm
Quoting jmflukeiii
{quote} Long GJ as well - pissed I had to leave early and missed out on the GA run down earlier (still the same day for me). BTW... the AUDs have news coming soon so being cautious with them.
Hi jmflukeiii,

Yes still plenty of trading time left today to reach your target.

The EJ short at the 900 level is discretionary (check your daily open)

Masterrmind........
Master your Mind then Master your Trades
  • #6,914
  • Jul 1, 2014 7:31pm Jul 1, 2014 7:31pm
Quoting Masterrmind
{quote} Hi jmflukeiii, Yes still plenty of trading time left today to reach your target. The EJ short at the 900 level is discretionary (check your daily open) Masterrmind........
900 is above my open line - I won't be trading the 800 either. I don't like trading a line where the stop loss would also be a trade in the opposite direction.

BTW... concerning skipping the 00 - I used to always fade 00 levels so I have been hesitant to try to trade with them -
Small disciplines repeated with consistency lead to great achievements.
  • #6,915
  • Jul 1, 2014 7:34pm Jul 1, 2014 7:34pm
Quoting jmflukeiii
{quote} 900 is above my open line - I won't be trading the 800 either. I don't like trading a line where the stop loss would also be a trade in the opposite direction.
Yes that's a fair enough call on your part.

I'm simply going to watch how PA reacts around this level and take it from there.

Masterrmind............
Master your Mind then Master your Trades
  • #6,916
  • Jul 1, 2014 7:36pm Jul 1, 2014 7:36pm
Quoting Masterrmind
{quote} Yes that's a fair enough call on your part. I'm simply going to watch how PA reacts around this level and take it from there. Masterrmind............
That's probably a better assessment than absolute yes or no statements on my part -
Small disciplines repeated with consistency lead to great achievements.
  • #6,917
  • Jul 1, 2014 7:38pm Jul 1, 2014 7:38pm
GA to target - halfway there -
Attached Image
Small disciplines repeated with consistency lead to great achievements.
  • #6,918
  • Jul 1, 2014 7:38pm Jul 1, 2014 7:38pm
Quoting jmflukeiii
{quote} 900 is above my open line - I won't be trading the 800 either. I don't like trading a line where the stop loss would also be a trade in the opposite direction. BTW... concerning skipping the 00 - I used to always fade 00 levels so I have been hesitant to try to trade with them -
I have actually had mixed success with trading 000's.

Initially I didn't trade them at all I waited for either the 100 or the 900 level

For the Asian session I'm going to avoid them just as a test which could mean less trading depending on PA but sometimes no trade is a great trade if it keeps you out of a loss.

Masterrmind..............
Master your Mind then Master your Trades
  • #6,919
  • Jul 1, 2014 7:42pm Jul 1, 2014 7:42pm
Quoting Masterrmind
{quote} I have actually had mixed success with trading 000's. Initially I didn't trade them at all I waited for either the 100 or the 900 level For the Asian session I'm going to avoid them just as a test which could mean less trading depending on PA but sometimes no trade is a great trade if it keeps you out of a loss. Masterrmind..............
It takes a long time to learn that - and the hard way appears to be the only way to learn it unfortunately
Small disciplines repeated with consistency lead to great achievements.
  • #6,920
  • Jul 1, 2014 7:46pm Jul 1, 2014 7:46pm
Quoting jmflukeiii
{quote} It takes a long time to learn that - and the hard way appears to be the only way to learn it unfortunately
It's easy enough to explain in 1 word...........experience!

But not easy to explain to someone else exactly why you did what you did re taking or not taking a trade.

It's a feeling you get from watching a particular chart and knowing how to react.

Unfortunately no one is right all the time only some of the time...........

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