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As simple as possible: 00 level trading

  • #7,461
  • Jul 3, 2014 9:49pm Jul 3, 2014 9:49pm
Quoting Qed
no probs ,,, I entered well under DO in line with red box and H/D both red I still think it will go down but im not prepared to fight it
Intelligent trading!

Going with the market and not against it....

EDIT: Rule #5. No short @ .100 level - this would have saved you the loss and the reason why I cancelled my pending order.

Masterrmind........
Master your Mind then Master your Trades
  • #7,462
  • Jul 3, 2014 9:51pm Jul 3, 2014 9:51pm
In Asia, the price tries to retrace, so the entries will not be good. Chances of success is limited.

The best session to trade is Frankfurt/London/NY
Intraday only.
  • #7,463
  • Jul 3, 2014 9:56pm Jul 3, 2014 9:56pm
Quoting navk
In Asia, the price tries to retrace, so the entries will not be good. Chances of success is limited. The best session to trade is Frankfurt/London/NY
That's a known fact!

Trading the Asian session usually comes with mixed results so you need to choose your trades carefully.

If you are BE or profitable in the Asian session then keep trading it!
If you are losing more money than what you are gaining then reconsider your trading.

Common sense and trading history will guide you.

Masterrmind.........
Master your Mind then Master your Trades
  • #7,464
  • Jul 3, 2014 10:05pm Jul 3, 2014 10:05pm
ok I may have to look at the levels ... I took 00 level as 21.100> 21.000 my short was 21.070 looking for 21.000 target
Whats That? you're trading What?
  • #7,465
  • Jul 3, 2014 10:14pm Jul 3, 2014 10:14pm
GU +6
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm15_20140704tp.png Size: 17 KB
Lets WUKAR FIFO!! - Udine
  • #7,466
  • Jul 3, 2014 10:15pm Jul 3, 2014 10:15pm
WD
Whats That? you're trading What?
  • #7,467
  • Jul 3, 2014 10:21pm Jul 3, 2014 10:21pm
The losses or BE will make us to think the system is not working.

This is my opinion, but depends on people.
Intraday only.
  • #7,468
  • Jul 3, 2014 10:27pm Jul 3, 2014 10:27pm
the system works ... its the people who dont
Whats That? you're trading What?
  • #7,469
  • Jul 3, 2014 10:30pm Jul 3, 2014 10:30pm
Quoting navk
The losses or BE will make us to think the system is not working. This is my opinion, but depends on people.
System works, just don't expect to take every signal and for it to work. As udine often says, "pick your battles wisely".
I always remind myself avoiding 1 loss is more important than taking 1 win with this system, so I am pretty careful with the entries I take and limit the pairs I watch
  • #7,470
  • Jul 3, 2014 10:30pm Jul 3, 2014 10:30pm
Quoting Juan007
running a demo EXPERT ADVISER GJ +5-10=-5 EJ +5-10=-5 GU +5 EU +5 TOT=0 {image} {image} {image} {image}
Hello Juan007, you can share this EA to test it too?
  • #7,471
  • Jul 3, 2014 10:36pm Jul 3, 2014 10:36pm
PLUS resist the URGE to trade ........ patience
Whats That? you're trading What?
  • #7,472
  • Jul 3, 2014 10:40pm Jul 3, 2014 10:40pm
Quoting Qed
PLUS resist the URGE to trade ........ patience

Yeah, this is what I said. Taking trades in Asia, will not do good, whether it is demo or live.
Intraday only.
  • #7,473
  • Jul 3, 2014 10:47pm Jul 3, 2014 10:47pm
Quoting Callum
{quote} System works, just don't expect to take every signal and for it to work. As udine often says, "pick your battles wisely". I always remind myself avoiding 1 loss is more important than taking 1 win with this system, so I am pretty careful with the entries I take and limit the pairs I watch
I agree. I need to be more careful.

I think whether GU or EU goes with UJ is one of the critria to choose pairs to trade in Asia.

Other viewpoint is PA. You can feel whether there's a trend or not.
Limiting trading only after a fairly long hour candle appears may be a good idea. I will experiment on this idea more.

London session is simpler.

The result of this morning:
GJ -10, BE(Asia)
Total: -10

Yesterday:
EJ BE, -10(London)
GJ BE(London)
EJ +5, -10(NY)
Total: -15

I didn't short EJ at 139.000 in Asia today
because I already longed GJ. Because of the limit of the leverage, I can hold one position at the same time.
My hope has been almost completely shattered, but not completely yet
  • #7,474
  • Jul 3, 2014 10:52pm Jul 3, 2014 10:52pm
NJ SL -11
Attached Image (click to enlarge)
Click to Enlarge Name: nzdjpym15_20140704sl.png Size: 18 KB
Lets WUKAR FIFO!! - Udine
  • #7,475
  • Jul 3, 2014 10:55pm Jul 3, 2014 10:55pm
Quoting Qed
ok I may have to look at the levels ... I took 00 level as 21.100> 21.000 my short was 21.070 looking for 21.000 target
Yes I guess it's up to you where you choose your levels.

I'm basing mine on the 21.000 at present meaning that I don't go short from 21.100 and I don't go long from 20.900.

The point is that really silver shouldn't be traded at present......Look at the ranges they have been within 8 to 10 total meaning that if you went long from 21.100 it is unlikely that TP would have been met.

Please refer to the following chart it indicates that XAGUSD was not worth trading from this level over the last few trading days.

The red ticks are in my opinion marginal TP's at best and the red x's are highly unlikely TP's.

If you had entered a trade a few days ago you would still be in it unless you hit TP a couple of days ago simply because since then the range has been far too small.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 33 KB


Masterrmind...............
Master your Mind then Master your Trades
  • #7,476
  • Jul 3, 2014 10:59pm Jul 3, 2014 10:59pm
Another EA trade out with the trailing stop, small profit. at BE for the asian session so far...
No more asia trades for me today - even though I am only demo trading asia... will wait till franky/london opens to hopefully bank some real profits
  • #7,477
  • Jul 3, 2014 11:05pm Jul 3, 2014 11:05pm
Quoting navk
In Asia, the price tries to retrace, so the entries will not be good. Chances of success is limited. The best session to trade is Frankfurt/London/NY
I agree navk. I stick to the London & New York sessions for this reason. Should be interesting tonight. I stayed out last night with all the Red news
  • #7,478
  • Jul 3, 2014 11:11pm Jul 3, 2014 11:11pm
Quoting Qed
the system works ... its the people who dont
I believe the trader and the system both need to be in sync..........

Masterrmind...........
Master your Mind then Master your Trades
  • #7,479
  • Jul 3, 2014 11:12pm Jul 3, 2014 11:12pm
The 1st time TP on daily candle change. However, +5 on EA

Attached Image (click to enlarge)
Click to Enlarge Name: Ashampoo_Snap_2014.07.04_12h07m21s_013_.png Size: 53 KB


Wish you all a green day!

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #7,480
  • Edited Jul 4, 2014 12:50am Jul 3, 2014 11:16pm | Edited Jul 4, 2014 12:50am
Quoting JibalaPasan
The 1st time TP on daily candle change. However, +5 on EA {image} Wish you all a green day! Jibala
Well done as I got put out by TS

EDIT: best to call it BE!........

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 35 KB


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