As simple as possible: 00 level trading | Page 356 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

SIMPLE EA for a simple method needed!! 2 replies

As simple as possible: RENKO M5 trading 75 replies

Trading is this Simple? Finally Explained simple and clearly! 46 replies

Simple Level Trading 1 reply

Trading: As simple as possible, but no simpler - by a real Cityboy 92 replies

Attachments: As simple as possible: 00 level trading
Exit Attachments

As simple as possible: 00 level trading

  • #7,101
  • Jul 2, 2014 5:01am Jul 2, 2014 5:01am
Quoting limprobable
{quote} Hello Masterrmind What are your TP and SL on gold?
Depends on the TF traded and which method I'm applying (short term or longer term).

Short term currently is based on Udine's method with slight changes to the chart to make it a little more user friendly on the eyes, traded levels vary at present and depend on spread etc. Still under analysis for now only been working with it for a few short weeks so it is still early days I'm afraid.

Longer term (H4 and daily charts) will NOT be discussed ever in this thread out of respect to Udine.

Masterrmind..........
Master your Mind then Master your Trades
  • #7,102
  • Jul 2, 2014 5:01am Jul 2, 2014 5:01am
Learning HOW to set your charts up is PART of the learning process... IF after trying for a while you cant work it out THEN ASK imo ... do some work on your own ..that way you will learn ...just IMO
Whats That? you're trading What?
  • #7,103
  • Jul 2, 2014 5:03am Jul 2, 2014 5:03am
MasterrMind ..
Whats That? you're trading What?
  • #7,104
  • Jul 2, 2014 5:07am Jul 2, 2014 5:07am
Quoting Masterrmind
{quote} Depends on the TF traded and which method I'm applying (short term or longer term). Short term currently is based on Udine's method with slight changes to the chart to make it a little more user friendly on the eyes, traded levels vary at present and depend on spread etc. Still under analysis for now only been working with it for a few short weeks so it is still early days I'm afraid. Longer term (H4 and daily charts) will NOT be discussed ever in this thread out of respect to Udine. Masterrmind..........
Thanks for your answer.

I was talking only about Udine's method.

You enter on oo level (1227 now for example) and put your tp at 1227.750 ? (got a spread 0.250 with oanda)

what about your SL?

Edit ps: I am not using the udine's method right now with gold. I test it on demo. I am looking for experience about other trader using udine's method on gold
Bottomless wonders spring from simple rules, which are repeated without end
  • #7,105
  • Jul 2, 2014 5:08am Jul 2, 2014 5:08am
Quoting Qed
MasterrMind ..
My response has nothing to do with me not wanting to share...I truly hope the trader understands that!

It would be, in my opinion a mistake to let loose with anything to do with gold/silver at such an early stage as they require extra attention and more testing.

That's all....

Masterrmind.............
Master your Mind then Master your Trades
  • #7,106
  • Jul 2, 2014 5:11am Jul 2, 2014 5:11am
totally agree there MM , I cant even "share" stop loss etc with someone I mentor ..its up to the individual COMPLETELY Gold etc are special demons ...
Whats That? you're trading What?
  • #7,107
  • Jul 2, 2014 5:12am Jul 2, 2014 5:12am
Trading metal is a losing game in the end.. sorry to say but is true..

There are just too much bullshit happening behind the closed doors that retailer would have no clue about before the damage is done.

focus on currency and it's much more reliable.

"10-20 pips a day is all one need."
quote Udine man..
Passion, Persist, Patience, Protect
  • #7,108
  • Jul 2, 2014 5:15am Jul 2, 2014 5:15am
Quoting limprobable
{quote} Thanks for your answer. I was talking only about Udine's method. You enter on oo level (1227 now for example) and put your tp at 1227.750 ? (got a spread 0.250 with oanda) what about your SL?
You can start by using 10 pip SL and 5 pip TP if you wish and then analyse the trade from start to finish (including net profit etc etc).

Test it on a demo (I don't like) or a very small live account....completely up to you.

Implement pending orders into your trading using the EA's, indi's and scripts as provided generously in this thread.

Hope that helps.

Masterrmind............
Master your Mind then Master your Trades
  • #7,109
  • Jul 2, 2014 5:17am Jul 2, 2014 5:17am
Quoting bivt
{quote} hiii.. at last there is indonesia people around here too... i'm from indonesia too..
Same here

Greetings and good luck.
  • #7,110
  • Jul 2, 2014 5:19am Jul 2, 2014 5:19am
Quoting FXEmpire
Trading metal is a losing game in the end.. sorry to say but is true.. There are just too much bullshit happening behind the closed doors that retailer would have no clue about before the damage is done. focus on currency and it's much more reliable. "10-20 pips a day is all one need." quote Udine man..
I read somewhere:

10 pips a day is good
20 pips a day is great
30 pips a day is awesome, but 10 pips a day is enough to make you rich, so why risk it ??

and as I said before, 10 pips a day compounding a 1K account can grow into a 1 million account in 3 years...

where do you want to be in 3 years time ??

Udine
Sleep less, live fast, as it aint gonna last
  • #7,111
  • Jul 2, 2014 5:22am Jul 2, 2014 5:22am
Quoting FXEmpire
Trading metal is a losing game in the end.. sorry to say but is true.. There are just too much bullshit happening behind the closed doors that retailer would have no clue about before the damage is done. focus on currency and it's much more reliable. "10-20 pips a day is all one need." quote Udine man..
You are right about a lot of things happening behind the scenes.....that's a definite fact.

But strangely enough that's one of the reasons why I love trading it.

It's a challenge.......... I will say however that it only takes up a very small part of my trading ..... at the moment.

ps. It's not for everyone though.....

Masterrmind........
Master your Mind then Master your Trades
  • #7,112
  • Jul 2, 2014 5:23am Jul 2, 2014 5:23am
Quoting Obie45
Hello Everyone I have previously posted this but as a junior member it didn't get posted quickly and I think it got skipped over as the thread moves along quite quickly. I have been following Udines system here for a few weeks now and from what I have figured out the spread can either make or break you with this system. I was looking into changing brokers but the ones with the really low spreads seem to have commissions and if you are starting off with a small amount of capital this doesn't...
IMHO pay the commission and take lower spread, it's a false economy to pay higher spread and no commission.
It's easier to exit with full profit with tight spread. Otherwise you may hit BE with trailing stop or retrace into SL territory when others have taken full profit.
  • #7,113
  • Jul 2, 2014 5:27am Jul 2, 2014 5:27am
Quoting Masterrmind
{quote} You are right about a lot of things happening behind the scenes.....that's a definite fact. But strangely enough that's one of the reasons why I love trading it. It's a challenge.......... I will say however that it only takes up a very small part of my trading ..... at the moment. ps. It's not for everyone though..... Masterrmind........

you missed the part "bullshit".. lol

You see, in trading as a retailer your in the dark anyways, things happening behind the curtain it's a given.. but with gold oil it way too excessive.. it's politic more than anything else.

again.. Just MHO.
Passion, Persist, Patience, Protect
  • #7,114
  • Jul 2, 2014 5:31am Jul 2, 2014 5:31am
Ill say I agree with you MM, and leave it at that
Whats That? you're trading What?
  • #7,115
  • Jul 2, 2014 5:55am Jul 2, 2014 5:55am
Might have to call it a day I think........

But knowing me I will most likely come back to have a quick look at the NY open.

Masterrmind............
Master your Mind then Master your Trades
  • #7,116
  • Jul 2, 2014 6:01am Jul 2, 2014 6:01am
DISCIPLINE.........
Whats That? you're trading What?
  • #7,117
  • Jul 2, 2014 6:19am Jul 2, 2014 6:19am
Quoting xux99
{quote} The new EA version will be uploaded to my website tomorrow.

OK thanks for your new update !!!!!.

Now playing with the toy

One last question. Are they implemented these filters to the news?

If news red in GBP. No trading GBPJPY. Yes EURJPY
If news red in EUR. No trading EURJPY. Yes GBPJPY.
If news in USD Interest Rate and NFP are not trading anything

Thanks
  • #7,118
  • Jul 2, 2014 6:25am Jul 2, 2014 6:25am
gj to tp..
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.im15.png Size: 50 KB
Passion, Persist, Patience, Protect
  • #7,119
  • Jul 2, 2014 6:59am Jul 2, 2014 6:59am
done and out for the day guys.. adp coming up the next hour which is wise to not trade any pair, at least for me for me.
+25 2.7% gain.

Keep it green.
Passion, Persist, Patience, Protect
  • #7,120
  • Jul 2, 2014 7:02am Jul 2, 2014 7:02am
Quoting FXEmpire
done and out for the day guys.. adp coming up the next hour which is wise to not trade any pair, at least for me for me. +25 2.7% gain. Keep it green.

well done

Udine
Sleep less, live fast, as it aint gonna last
9 traders viewing now