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As simple as possible: 00 level trading

  • #7,201
  • Jul 2, 2014 10:32pm Jul 2, 2014 10:32pm
Quoting MrTD
{quote} No problem... {file}{file}
MrTD,

Can you kindly write a similar script to work with Gold/Silver ?

Thank you in advance.

Vincent
  • #7,202
  • Jul 2, 2014 10:36pm Jul 2, 2014 10:36pm
EA > TP
GJ > TP
GU > TP
This morning done !
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  • #7,203
  • Jul 2, 2014 10:48pm Jul 2, 2014 10:48pm
Quoting Uluwatu
EA > TP GJ > TP GU > TP This morning done ! {image}
Great work, now as Udine would say - do you have the discipline to close MT4 and call it a day, or will u go after LO as well?
Definite advantages to knocking it over during Asian and then treating LO as bonus and/or learning territory.
  • #7,204
  • Jul 2, 2014 10:49pm Jul 2, 2014 10:49pm
I realized this morning that the "market panel clock" indicator show the Tokyo open 1 hour earlier as when it actually open.

I've tried to see if I can find where to change this in the code but it is a bit above my skill level.

Can anyone tell me where and how to fix it or fix it please.
Lets WUKAR FIFO!! - Udine
  • #7,205
  • Jul 2, 2014 11:01pm Jul 2, 2014 11:01pm
Quoting buntmn
{quote} Great work, now as Udine would say - do you have the discipline to close MT4 and call it a day, or will u go after LO as well? Definite advantages to knocking it over during Asian and then treating LO as bonus and/or learning territory.
Certainly I will. Was trying out the opening of Tokyo. The market did move for the first 3 hrs, could be due to Australia red news...
  • #7,206
  • Jul 2, 2014 11:31pm Jul 2, 2014 11:31pm
Quoting Masterrmind
GOLD XAUUSD +>5 TP {image} Masterrmind............
If I use this system to trading with XAU, I would at least take 15-20 pips, XAU move quick and move a lot, with 10 pips only SL too risky

just my 2 cents
Never say no to PIPS
  • #7,207
  • Jul 2, 2014 11:52pm Jul 2, 2014 11:52pm
Quoting lazyegg
{quote} If I use this system to trading with XAU, I would at least take 15-20 pips, XAU move quick and move a lot, with 10 pips only SL too risky just my 2 cents
That's only one of the many reasons I have suggested that trading it is certainly not for everyone!

I do not always use the same gold chart I have posted but use 3 in total, different levels for entry/exit/session/PA etc.

Asian session, London session and NY sessions = different trading approaches are needed.

The number of pips I take or expect to take in any case varies as price velocity varies.

Slower moving sessions = Udine method implemented (works well for me!)
Faster moving markets = altered levels, TF's and TP, SL (that's another story)

I choose to trade Gold and silver because I like them but I'm not suggesting it is for everyone.

We as traders are responsible for our own trading.

All the best

Masterrmind...........
Master your Mind then Master your Trades
  • #7,208
  • Jul 2, 2014 11:55pm Jul 2, 2014 11:55pm
Quoting Masterrmind
{quote} That's only one of the many reasons I have suggested that trading it is certainly not for everyone! I do not always use the same gold chart I have posted but use 3 in total, different levels for entry/exit/session/PA etc. Asian session, London session and NY sessions = different trading approaches are needed. The number of pips I take or expect to take in any case varies as price velocity varies. Slower moving sessions = Udine method implemented (works well for me!) Faster moving markets = altered levels, TF's and TP, SL (that's another...
I traded gold futures for a little while. I remember I made $500 on a single contract in 4 seconds - I think it was my first trade on gold. I then proceeded to lose $1300 in 14 seconds! After about another month of a few ten thousands made and a few ten thousands lost, I decided it was more than I really cared to deal with
Small disciplines repeated with consistency lead to great achievements.
  • #7,209
  • Jul 3, 2014 12:07am Jul 3, 2014 12:07am
Quoting jmflukeiii
{quote} I traded gold futures for a little while. I remember I made $500 on a single contract in 4 seconds - I think it was my first trade on gold. I then proceeded to lose $1300 in 14 seconds! After about another month of a few ten thousands made and a few ten thousands lost, I decided it was more than I really cared to deal with
Yes it's not for everyone!

Always remember that if you control the risk per trade (eg 2%) correctly then your potential loss is exactly the same as on any other trade you ever make (metals or currencies).

The $1300 should have represented only say 2% of your trading equity so you shouldn't have blinked an eye at it.

The only time it would hurt is if the frequency of losses in a row continued increasing (then you should have pulled the pin ie stopped trading) or your position size was far greater than say 2% ie trading dangerously.

I never risk more than 2% per trade and many times it's far less than that!

Bottom line is trade what you are comfortable trading as long as you are profitable.

Good trading.

Masterrmind.............
Master your Mind then Master your Trades
  • #7,210
  • Jul 3, 2014 12:18am Jul 3, 2014 12:18am
Agree 100% MM ,its all about position sizing and stops with gold imo cheersQ PS doing nothing today , busy with other stuff and 3 good days is ok by me
Whats That? you're trading What?
  • #7,211
  • Jul 3, 2014 12:23am Jul 3, 2014 12:23am
Quoting Qed
Agree 100% MM ,its all about position sizing and stops with gold imo cheersQ PS doing nothing today , busy with other stuff and 3 good days is ok by me
Yes Ive taken 1 good trade earlier just after 1more its currently running.

Enjoy your time off....... the last few days were excellent I agree!

Masterrmind...........
Master your Mind then Master your Trades
  • #7,212
  • Jul 3, 2014 12:59am Jul 3, 2014 12:59am
Hello friends !
Have a nice day ;-)
  • #7,213
  • Jul 3, 2014 1:05am Jul 3, 2014 1:05am
Frankfurt entries

Don't forget to apply the following to your pending orders:

RULE #3. Frankfurt open only .400/.500/.600 levels

EJ pending orders would have to be quite distant from current PA
GJ pending short only from 174.600

Masterrmind............
Master your Mind then Master your Trades
  • #7,214
  • Jul 3, 2014 1:20am Jul 3, 2014 1:20am
[quote=Masterrmind;7578505]Frankfurt entries Don't forget to apply the following to your pending orders: RULE #3. Frankfurt open only .400/.500/.600 levels EJ pending orders would have to be quite distant from current PA GJ pending short only from 174.600 Masterrmind............[/quote

only GU and EU is qualified but that too looks like infected by Frankfurt Facky
  • #7,215
  • Jul 3, 2014 1:20am Jul 3, 2014 1:20am
Good morning,

a lot of important news today....

so be smart choose your battles wisely, be a sniper !!

Udine
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Sleep less, live fast, as it aint gonna last
  • #7,216
  • Jul 3, 2014 1:22am Jul 3, 2014 1:22am
[quote=jeetvirk;7578538]
Quoting Masterrmind
Frankfurt entries Don't forget to apply the following to your pending orders: RULE #3. Frankfurt open only .400/.500/.600 levels EJ pending orders would have to be quite distant from current PA GJ pending short only from 174.600 Masterrmind............[/quote only GU and EU is qualified but that too looks like infected by Frankfurt Facky
Yes and Post #7220 by Udine illustrates it well.

Masterrmind...........
Master your Mind then Master your Trades
  • #7,217
  • Jul 3, 2014 1:27am Jul 3, 2014 1:27am
Quoting Udine
Good morning, a lot of important news today.... so be smart choose your battles wisely, be a sniper !! Udine {image}
It means we should focus more on EUR pairs during london open.
  • #7,218
  • Jul 3, 2014 1:27am Jul 3, 2014 1:27am
Quoting Swede
trailing stop is great when you have to leave your desk...but as you can see it can cause a nice entry to fizzle out after intial pop... {image}
Trailing Stop = Capital Preservation, Capital Preservation, Capital Preservation !!!
  • #7,219
  • Jul 3, 2014 1:36am Jul 3, 2014 1:36am
Quoting flx69
{quote} 1. Only trade London Open + max. 2 hrs. 2. Only trade EURJPY and GBPJPY (if not possible for Red News reasons, trade EURUSD or GBPUSD) 3. Make sure you place your pending orders in accordance with the rules and preferably < 1 minute from the open of the first candle during the London session. Best of luck, flx69
Thank you for your suggestions, flx69. You are right. I know I am a bit out of focus with EA and GA because of their higher ADR and the success others are having with them.
  • #7,220
  • Jul 3, 2014 1:37am Jul 3, 2014 1:37am
Quoting Uluwatu
{quote} Certainly I will. Was trying out the opening of Tokyo. The market did move for the first 3 hrs, could be due to Australia red news...
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