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As simple as possible: 00 level trading

  • #7,301
  • Jul 3, 2014 4:20am Jul 3, 2014 4:20am
Quoting bhabakar
Thanks Udine. Been trying for two weeks now. I'm getting used to it... {image}
Sleep less, live fast, as it aint gonna last
  • #7,302
  • Jul 3, 2014 4:21am Jul 3, 2014 4:21am
Quoting well72
Hi everybody! +2.07% today (risk 1%). Today it is only 6 trades (rather than 18 as tuesday). I switch off the terminal and take the rest Thanks, Undine!
Good job...
Bravo !
  • #7,303
  • Jul 3, 2014 4:24am Jul 3, 2014 4:24am
Quoting FXEmpire
{quote} thanks.. I passed on it..
you're welcome
In both long
good luck
  • #7,304
  • Jul 3, 2014 4:35am Jul 3, 2014 4:35am
Quoting Gokay
{quote} you're welcome In both long good luck

I am rooting for you.
Passion, Persist, Patience, Protect
  • #7,305
  • Jul 3, 2014 4:36am Jul 3, 2014 4:36am
Quoting Ff-fx
EJ : pending long @ 1.39300 as it closed at 139.194, less than 1 pip under 139.200 GJ : pending short @ 174.600 + pending long @ 1.74800 For EJ, would you have taken it at 139.200 Udine, and why please ?

no pendings set...

will probably not trde anymore today..

prefer to be safe and not sorry..

Udine
Sleep less, live fast, as it aint gonna last
  • #7,306
  • Jul 3, 2014 4:38am Jul 3, 2014 4:38am
Quoting Udine
{quote} no pendings set... will probably not trde anymore today.. prefer to be safe and not sorry.. Udine
That matches what I'm doing currently.

Not trading..........

Masterrmind.............
Master your Mind then Master your Trades
  • #7,307
  • Jul 3, 2014 4:39am Jul 3, 2014 4:39am
Hi guys

Did anybody take this GJ short trade - and if not, why not?!

Thx

PC
Attached Image (click to enlarge)
Click to Enlarge Name: SL.png Size: 28 KB
Less is more...
  • #7,308
  • Jul 3, 2014 4:40am Jul 3, 2014 4:40am
Quoting FXEmpire
did anyone take crack at ej 200 lv again?
I nearly did, seriously thinking repeating both EJ and GJ.
Then I figured I already have my 10 pips...

I might be wrong, but I´m pretty sure Udine still has a GJ long, he´s 5 pips short and his first GJ trailed out.

Edit: oops, omitted to read Udine´s earlier post. No pendings...
  • #7,309
  • Jul 3, 2014 4:41am Jul 3, 2014 4:41am
Quoting pipcruiser
Hi guys Did anybody take this GJ short trade - and if not, why not?! Thx PC {image}
.700 level is very close to the daily open, don´t you think ?
  • #7,310
  • Jul 3, 2014 4:43am Jul 3, 2014 4:43am
It sure is, but looks like a valid trade to me anyway?

PC


Quoting flx69
{quote} .700 level is very close to the daily open, don´t you think ?
Less is more...
  • #7,311
  • Jul 3, 2014 4:46am Jul 3, 2014 4:46am
Quoting flx69
{quote} I nearly did, seriously thinking repeating both EJ and GJ. Then I figured I already have my 10 pips... I might be wrong, but I´m pretty sure Udine still has a GJ long, he´s 5 pips short and his first GJ trailed out. Edit: oops, omitted to read Udine´s earlier post. No pendings...

yep, I passed due to daily management too... playing the preserving game.. currently up +15 so why pick a dog fight on such day where most likely would not have a descent chance to trade again to get it back in the case of loss. Like Udine says, pick your battle.
Passion, Persist, Patience, Protect
  • #7,312
  • Jul 3, 2014 4:46am Jul 3, 2014 4:46am
Quoting pipcruiser
It sure is, but looks like a valid trade to me anyway? PC {quote}
It is a valid trade (but not profitable).

Having said that:
Look @ JMFluke´s comments a couple of pages back regarding trading close to daily open, I personally think they´re very true.
  • #7,313
  • Jul 3, 2014 4:47am Jul 3, 2014 4:47am
Quoting pipcruiser
It sure is, but looks like a valid trade to me anyway? PC {quote}
Valid for the rules is not everything. As some mentioned before, its really tight to DO and so it's one of that more risky trades, what easily can be avoided with experience.

Anyway, I'm short gj and would not trade any long on this december 2013 high. Nothing with the rules, just this is a tested resistence and I'll not fight it for longs.
  • #7,314
  • Jul 3, 2014 4:48am Jul 3, 2014 4:48am
Quoting pipcruiser
Hi guys Did anybody take this GJ short trade - and if not, why not?! Thx PC {image}

nope

If I would have been trading I would have only looked at going long...

the EJ is above the daily open, so I would prefer the two pairs to be in sync..

but this hour is alway slower and with the news later today the price can make sudden unpredictable moves, so I stayed out of both pairs...

Udine
Sleep less, live fast, as it aint gonna last
  • #7,315
  • Jul 3, 2014 4:51am Jul 3, 2014 4:51am
Thanks for the input guys...

So Udine you would never be long ie. EJ and short GJ at the same time? (no sync)

Thx

PC


Quoting Udine
{quote} nope If I would have been trading I would have only looked at going long... the EJ is above the daily open, so I would prefer the two pairs to be in sync.. but this hour is alway slower and with the news later today the price can make sudden unpredictable moves, so I stayed out of both pairs... Udine
Less is more...
  • #7,316
  • Jul 3, 2014 4:53am Jul 3, 2014 4:53am
Well boy and girls sounds like the order for rest of the day should be.. Tennis, golf and of course later on skinny dipping with club house honeys, lol


See you all tomorrow.

keep it green all.
Passion, Persist, Patience, Protect
  • #7,317
  • Jul 3, 2014 4:53am Jul 3, 2014 4:53am
I wonder if any technical genius can do a backtest and come up with some statistics around the success of ej & gj trades that are in sync versus not in sync in relation to both being above or below daily open line - intuition would suggest the strongest & most reliable moves would occur when they are in sync
  • #7,318
  • Jul 3, 2014 4:58am Jul 3, 2014 4:58am
Hey Udine,

I've been busy re-building your indicators for amibroker, it's my charting software.
One thing i'm a little afraight to ask... I guess its allready answered numerous times in the thread. But, i've been searching and it's still not clear to me.

With the trailstop @ 3,5 pips, you can never get a 10 pip loss, am i right?
Right from entering the trade your traistop will only allow 3,5 pip SL ... right?

Or... does the trailstop only activate itself when you are allready 3,5 pip in the green.
Persistence will get it. Consistency will keep it.
  • #7,319
  • Jul 3, 2014 5:05am Jul 3, 2014 5:05am
Quoting pipcruiser
Thanks for the input guys... So Udine you would never be long ie. EJ and short GJ at the same time? (no sync) Thx PC {quote}

that could only happen when I would be trading the waves after the splash of red news, otherwise you are correct

Udine
Sleep less, live fast, as it aint gonna last
  • #7,320
  • Jul 3, 2014 5:05am Jul 3, 2014 5:05am
First trade of the day GJ +5
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Give yourself a chance and trade it like it's layed out...
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