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As simple as possible: 00 level trading

  • #7,721
  • Jul 4, 2014 8:31am Jul 4, 2014 8:31am
Quoting MrTD
Hi Guys, Due to the number of PM's requesting customised settings for the OpenstopOrder scripts and that although I preferred we stuck to the rules Udine has laid out here for us, there were some legitimate cases where custom settings are required. For instance where trading accounts don't allow micro lots, the percentage based lot size won't work. So I have made new versions that will allow you to choose your own settings. Before you use the scripts, you need to run the Setglobals script to set your preferences... These are global to your mt4 platform...

MrTD,

thanks a lot, this will help the people to adjust the scripts to their needs

WELL DONE !!

Udine
Sleep less, live fast, as it aint gonna last
  • #7,722
  • Jul 4, 2014 8:33am Jul 4, 2014 8:33am
Quoting MrTD
So I have made new versions that will allow you to choose your own settings.
thanks a lot
  • #7,723
  • Jul 4, 2014 8:34am Jul 4, 2014 8:34am
Quoting MrTD
Hi Guys, Due to the number of PM's requesting customised settings for the OpenstopOrder scripts and that although I preferred we stuck to the rules Udine has laid out here for us, there were some legitimate cases where custom settings are required. For instance where trading accounts don't allow micro lots, the percentage based lot size won't work. So I have made new versions that will allow you to choose your own settings. Before you use the scripts, you need to run the Setglobals script to set your preferences... These are global to your mt4 platform...
A welcome contribution to this thread.......

Thank you.

Masterrmind.............
Master your Mind then Master your Trades
  • #7,724
  • Jul 4, 2014 8:41am Jul 4, 2014 8:41am
Quoting Udine
{quote} Wimbledon ??? Udine

back and dead tired..

I wish my friend.. It was a dream of mine to qualify at least once to play there, but never got much further than college ball. Now days just semi competitive local club tourney which is fun and enough to get the blood pumping, lol

Couple of great semi wimby matches going on today.. can't wait for fed match.


I hope you and everyone made the daily goal and above.. I am behind 160 post, will zip though it now..
Passion, Persist, Patience, Protect
  • #7,725
  • Jul 4, 2014 8:50am Jul 4, 2014 8:50am
Udine, no golf today ?
  • #7,726
  • Jul 4, 2014 9:00am Jul 4, 2014 9:00am
Quoting Masterrmind
{quote} I'm intrigued as to how this indicator could improve the frequency of winning trades. A screen shot is provided on the GJ pair with indicator attached. I'd like to know why the zones that I have marked with an "X" are not worth trading? Please take this as a friendly question. {image} Feel free to PM me if you do not wish to post here. Masterrmind..........
..It seems this is a bug in code... In *JPY pairs it works correctly.
However, I've got another one
I have checked, it works correctly.

With adding this indicator i'm saying that lower correlation means that Udine calls "not sync with other pair".
It's allows to find out percent of sync and make it more visual.
Attached File(s)
File Type: ex4 IND_Correlation.ex4   10 KB | 352 downloads
File Type: mq4 IND_Correlation.mq4   6 KB | 400 downloads
  • #7,727
  • Jul 4, 2014 9:00am Jul 4, 2014 9:00am
Quoting Traffex
Udine, no golf today ?

my golfbuddy cancelled... so my terrass in the sun posting some crap and drinking a beer or two..

Udine
Sleep less, live fast, as it aint gonna last
  • #7,728
  • Jul 4, 2014 9:03am Jul 4, 2014 9:03am
Quoting fxaus
You can ask any question, before big guru (FXempire) comes

I shouldn't even respond to you. I am big but hardly a guru, lol

Stay green.
Passion, Persist, Patience, Protect
  • #7,729
  • Jul 4, 2014 9:07am Jul 4, 2014 9:07am
And one more thing..
Lower timeframe is more preferredly.
Not H1, but M15 or even M5..
Because we must see correlation in dynamic, before we got a new signal at H1.
  • #7,730
  • Jul 4, 2014 9:09am Jul 4, 2014 9:09am
Quoting MrTD
Hi Guys, Due to the number of PM's requesting customised settings for the OpenstopOrder scripts and that although I preferred we stuck to the rules Udine has laid out here for us, there were some legitimate cases where custom settings are required. For instance where trading accounts don't allow micro lots, the percentage based lot size won't work. So I have made new versions that will allow you to choose your own settings. Before you use the scripts, you need to run the Setglobals script to set your preferences... These are global to your mt4 platform...
Great stuff MrTD !
Thanks on behalf of all !!!
Sent you a PM.
  • #7,731
  • Edited 9:47am Jul 4, 2014 9:12am | Edited 9:47am
Quoting owner2005
{quote} ..It seems this is a bug in code... In *JPY pairs it works correctly. However, I've got another one I have checked, it works correctly. With adding this indicator i'm saying that lower correlation means that Udine calls "not sync with other pair". It's allows to find out percent of sync and make it more visual. {file} {file}
Thank you I will test it out and determine it's usefulness.

EDIT: although my interest lies in the analysis exercise.

Masterrmind..........
Master your Mind then Master your Trades
  • #7,732
  • Jul 4, 2014 9:14am Jul 4, 2014 9:14am
Quoting owner2005
And one more thing.. Lower timeframe is more preferredly. Not H1, but M15 or even M5.. Because we must see correlation in dynamic, before we got a new signal at H1.
Yes I determined M15 or lower would be preferable but need time to analyse it further.

Thanks again.

Masterrmind..........
Master your Mind then Master your Trades
  • #7,733
  • Jul 4, 2014 9:14am Jul 4, 2014 9:14am
Quoting Masterrmind
{quote} Yes just trial the chart and see what you are most comfortable with...... You'd be surprised to know that after trading for many years you will find that charts with the minimal amount of bells and whistles is the chart of choice! Masterrmind...........
Takes some time to learn that. The lesson is, indicators only show history, no future. A blank chart with a few support and resistance levels taken from daily (or any other timeframe, what trader like) tells enough to find the trades.

The more indicators, the less trades and more complicated it gets. Are the trades, taken from 5 or even more indicators, bulletproof? If it was that simple, I already would be a millionaire. And every other trader too.

Moneymanagement is everything. You can make a living with hunting for 1 pip all day long or with trading for the 500 pip move in daily charts. It does not matter. But for both, you only need eyes, no indicators. That's what I like in Udines System. Profitable trading without indicators.

Have a nice weekend.
  • #7,734
  • Jul 4, 2014 9:24am Jul 4, 2014 9:24am
+5 pips today and done for the week!

This was my first week made 14%

Thanks Udine

Back-testing has given me a lot of confidence
Give yourself a chance and trade it like it's layed out...
  • #7,735
  • Jul 4, 2014 9:26am Jul 4, 2014 9:26am
Quoting Udine
{quote} my golfbuddy cancelled... so my terrass in the sun posting some crap and drinking a beer or two.. Udine
Udine

You must teach your buddy the rules of golf!

Rule no1: NEVER CANCEL A ROUND OF GOLF - EVER

Enjoy your weekend - play golf
When all conditions are met - Enter trade - sit back and FRET !!!
  • #7,736
  • Jul 4, 2014 9:34am Jul 4, 2014 9:34am
ok guys/girls I am out of here, be good and enjoy the weekend

cheers

Udine
Sleep less, live fast, as it aint gonna last
  • #7,737
  • Jul 4, 2014 9:37am Jul 4, 2014 9:37am
Quoting mpillmann
{quote} Takes some time to learn that. The lesson is, indicators only show history, no future. A blank chart with a few support and resistance levels taken from daily (or any other timeframe, what trader like) tells enough to find the trades. The more indicators, the less trades and more complicated it gets. Are the trades, taken from 5 or even more indicators, bulletproof? If it was that simple, I already would be a millionaire. And every other trader too. Moneymanagement is everything. You can make a living with hunting for 1 pip all day long...
I'm well aware of that my friend.

You are not telling me anything I don't know.

ps. you have obviously overlooked several posts recently which outline what I have said in terms of the longer you trade the less "bells and whistles you need on your chart".

My interest is far different than the one you imply.

Masterrmind........
Master your Mind then Master your Trades
  • #7,738
  • Jul 4, 2014 9:42am Jul 4, 2014 9:42am
Hi Udine,

I attach here GBPAUD chart.

Though, the price has been below Open price and trending down, it was choppy.

I did not take trade in this pair.

A question.

If I take a trade at 1.8340, the target 5 pips would have been hit.

But If I take trade at 1.8330, SL would be hit. ( London)

Your clarification on this pls.


Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaudm15.png Size: 69 KB
Intraday only.
  • #7,739
  • Jul 4, 2014 9:49am Jul 4, 2014 9:49am
Quoting Masterrmind
{quote} I'm well aware of that my friend. You are not telling me anything I don't know. ps. you have obviously overlooked several posts recently which outline what I have said in terms of the longer you trade the less "bells and whistles you need on your chart". My interest is far different than the one you imply. Masterrmind........
I know and I read every single post since the beginning. Don't get me wrong. I only quoted your post to sign that. Not to tell you something. Do don't feel that as stepping onto your feet. I don't.
Have a nice weekend, anyway.
  • #7,740
  • Jul 4, 2014 9:51am Jul 4, 2014 9:51am
Quoting Udine
ok guys/girls I am out of here, be good and enjoy the weekend cheers Udine
Have a great weekend Udine.

Looking forward to next week but now I have a weekend of engagements to enjoy.

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