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As simple as possible: 00 level trading

  • #7,661
  • Jul 4, 2014 2:22am Jul 4, 2014 2:22am
Short GU @1.7150 +6 Pips. Took 1,5 hours but still worked.
Those who know don't talk. Those who talk don't know.
  • #7,662
  • Jul 4, 2014 2:22am Jul 4, 2014 2:22am
Quoting laurentiupbv
{quote} hi udine, but why not GJ? i understood that GU wasn't in sync with the other ones but why not GJ? I took GJ, EU, EJ and i got +15. Due to the fact that i take trades before 00 levels (due to my spread) i will post charts only when it is requested, because i don't want to confuse other traders and deviate them from the system rules. Thanks

GJ at london open was violation of rule 5

Udine
Sleep less, live fast, as it aint gonna last
  • #7,663
  • Jul 4, 2014 2:27am Jul 4, 2014 2:27am
Quoting ckikadikoi
GJ out TS {image}
interesting i havent been stopped out yet

spreads and brokers!

to be true to the system i decided to close manually
  • #7,664
  • Jul 4, 2014 2:29am Jul 4, 2014 2:29am
Quoting flx69
{quote} Nice one Jibala ! You set your Pending Order awfully close to the daily open line (mineŽs 1.71530).
As you can see the DO is @1.7163 so my pending was not placed too close I guess. I wouldn't have placed a pending @1.7160!

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #7,665
  • Jul 4, 2014 2:31am Jul 4, 2014 2:31am
Hey guys, can you help me understand why my trailing stop didn't work?

I obviously have wheelbarrel active...

Attached Image (click to enlarge)
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  • #7,666
  • Jul 4, 2014 2:31am Jul 4, 2014 2:31am
Quoting JibalaPasan
{quote} As you can see the DO is @1.7163 so my pending was not placed too close I guess. I wouldn't have placed a pending @1.7160! Jibala
YouŽre absolutely right. I am not accustomed to reading your "type of chart". IŽd have placed the same (and be in profit) ;-)
  • #7,667
  • Jul 4, 2014 2:32am Jul 4, 2014 2:32am
GU +>5 TP

Attached Image (click to enlarge)
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Masterrmind............
Master your Mind then Master your Trades
  • #7,668
  • Jul 4, 2014 2:38am Jul 4, 2014 2:38am
Great to see everyone doing so well! lots and lots of green pips for everyone.

My first week trading live has been a bit of a roller coaster, started with 2 consecutive losses so was down just over 4% to begin (2% per trade + commission), then had a fairly good run of winners to get back up to +2% but have since gone back to break even for the week... I didn't break any rules all week which I am really happy about, was possibly a bit too selective in my trade picks, and missed one winner today due to being too slow. On wards and upwards! goal for next week is to finish in the green! and an area to keep under control is not looking for other pairs to trade - its a bad habbit that comes from trading lots of pairs on daily TF i think!

Might be a bit of a strange question, but would any experienced guys mind sharing their trade log - or a sample of it, interested mainly in what people write for comments as well as the stats they collect...

Looking forward to next week
  • #7,669
  • Jul 4, 2014 2:48am Jul 4, 2014 2:48am
Quoting Callum
Great to see everyone doing so well! lots and lots of green pips for everyone. My first week trading live has been a bit of a roller coaster, started with 2 consecutive losses so was down just over 4% to begin (2% per trade + commission), then had a fairly good run of winners to get back up to +2% but have since gone back to break even for the week... I didn't break any rules all week which I am really happy about, was possibly a bit too selective in my trade picks, and missed one winner today due to being too slow. On wards and upwards! goal for...

The week was not easy, NFP + 4 July

If you are at breakeven, it's already well since you are a "junior" trader.

Don't worry !
  • #7,670
  • Jul 4, 2014 2:56am Jul 4, 2014 2:56am
My patience is being tested today...

GJ to TP.
BE for now.
Attached Image (click to enlarge)
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  • #7,671
  • Jul 4, 2014 2:58am Jul 4, 2014 2:58am
Quoting Callum
Great to see everyone doing so well! lots and lots of green pips for everyone. My first week trading live has been a bit of a roller coaster, started with 2 consecutive losses so was down just over 4% to begin (2% per trade + commission), then had a fairly good run of winners to get back up to +2% but have since gone back to break even for the week... I didn't break any rules all week which I am really happy about, was possibly a bit too selective in my trade picks, and missed one winner today due to being too slow. On wards and upwards! goal for...

good start !!

Udine
Sleep less, live fast, as it aint gonna last
  • #7,672
  • Jul 4, 2014 3:00am Jul 4, 2014 3:00am
Quoting flx69
My patience is being tested today... GJ to TP. BE for now. {image}
Didn't trailing stop worked also for you?
  • #7,673
  • Jul 4, 2014 3:00am Jul 4, 2014 3:00am
eurcad +5
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  • #7,674
  • Jul 4, 2014 3:01am Jul 4, 2014 3:01am
next hour short again GJ @ 174.900 after TP (if will be possible) ?
Porta itineris dicitur longissima esse
  • #7,675
  • Jul 4, 2014 3:16am Jul 4, 2014 3:16am
Quoting lucariga
{quote} Didn't trailing stop worked also for you?
Yes it did, but TP was hit anyway.
  • #7,676
  • Jul 4, 2014 3:22am Jul 4, 2014 3:22am
Udine, maybe we should refresh base rules and add some more?

I think it's good idea to add 2 more rules. First rule - filter gbpjpy / eurjpy and eurusd / gbpusd respectively by Pearson correlation on M15.
Positive correlation must be more than 0.7.

And the second rule - no trades if one of the correlated pairs is overbought / oversold ( RmUp / RmDn < 10).
For example we look at GJ, system shows potential short trade, but EJ RmDn is less than 10, therefore we wait for the next signal.

For those who just start to learn this system, it will be useful..
And maybe will increase profit factor of beginners..

What do you think about this?
Attached File(s)
File Type: ex4 iPC_PricePrice_TFS.ex4   8 KB | 277 downloads
File Type: mq4 iPC_PricePrice_TFS.mq4   8 KB | 355 downloads
  • #7,677
  • Jul 4, 2014 3:24am Jul 4, 2014 3:24am
Quoting Udine
{quote} GJ at london open was violation of rule 5 Udine
Thank Udine,

I thought that London open can be referred for the first two ours due to the big money injected into the market.
But it seems that you are referring only for the first hour of the London open.

My mistake. 10 burpees (but let's do it only 5 because in the end it was a winner). Thanks again.
  • #7,678
  • Jul 4, 2014 3:34am Jul 4, 2014 3:34am
Quoting owner2005
Udine, maybe we should refresh base rules and add some more? I think it's good idea to add 2 more rules. First rule - filter gbpjpy / eurjpy and eurusd / gbpusd respectively by Pearson correlation on M15. Positive correlation must be more than 0.7. And the second rule - no trades if one of the correlated pairs is overbought / oversold ( RmUp / RmDn < 10). For example we look at GJ, system shows potential short trade, but EJ RmDn is less than 10, therefore we wait for the next signal. For those who just start to learn this system, it will be useful.....

who is Pearson??? I only know left eye and right eye.. all I need

I wont add my rules thx...

Udine
Sleep less, live fast, as it aint gonna last
  • #7,679
  • Jul 4, 2014 3:35am Jul 4, 2014 3:35am
Quoting laurentiupbv
{quote} Thank Udine, I thought that London open can be referred for the first two ours due to the big money injected into the market. But it seems that you are referring only for the first hour of the London open. My mistake. 10 burpees (but let's do it only 5 because in the end it was a winner). Thanks again.

nope a mistake is a mistake = 10 burpees

Udine
Sleep less, live fast, as it aint gonna last
  • #7,680
  • Jul 4, 2014 3:36am Jul 4, 2014 3:36am
GJ short 174.900 at 5pm JST turned out to be a SL while I was away...

If I had traded at 6pm JST I would have won GU and GJ (GJ might have been a BE),
but I was not in front of my PC.

Today's Total: -10pips (GJ -10, BE, -10. EJ +5, +5. CJ BE).
This week's Total: -25 pips (4%)

I'm wondering whether I continue trading today
My hope has been almost completely shattered, but not completely yet
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