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As simple as possible: 00 level trading

  • #7,741
  • Jul 4, 2014 9:52am Jul 4, 2014 9:52am
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 thought you are on the other part of world, I mean time difference. But still you are online !
Intraday only.
  • #7,742
  • Jul 4, 2014 9:57am Jul 4, 2014 9:57am
Could sommebody check this indi
Correlation Mode and the Bar Formation Mode

only another option

http://www.forex-tsd.com/metatrader-...indicator.html

its free
Attached Image (click to enlarge)
Click to Enlarge Name: correlation gbpusd gbpjpy.png Size: 59 KB
Attached File(s)
File Type: mq4 _Correlation IND CHARTlite2.1.mq4   10 KB | 361 downloads
File Type: mq4 _Correlation IND HSTlite2.1.mq4   7 KB | 356 downloads
File Type: doc _correlation_charts.doc   460 KB | 535 downloads
  • #7,743
  • Jul 4, 2014 9:57am Jul 4, 2014 9:57am
Quoting navk
{quote} I thought you are on the other part of world, I mean time difference. But still you are online !
Yes I'm actually watching the Wimbledon tennis so it will likely be a late night for me.

Masterrmind........
Master your Mind then Master your Trades
  • #7,744
  • Jul 4, 2014 10:01am Jul 4, 2014 10:01am
So, there is still no understanding why this loss trade(see white arrow) should not be taken...it was in sync with EJ and at the proper level...all per rules..comments?
Attached Image (click to enlarge)
Click to Enlarge Name: icmarket.png Size: 60 KB
  • #7,745
  • Jul 4, 2014 10:16am Jul 4, 2014 10:16am
Quoting driven18
So, there is still no understanding why this loss trade(see white arrow) should not be taken...it was in sync with EJ and at the proper level...all per rules..comments? {image}
A possibility:

Failed due to S&R......look across to the left of the screen and check where PA met with resistance and then support.

This may not be the answer you are looking for but it is a valid suggestion.

EDIT: unfortunately it will simply just be a loss that occurs with trading this system so you need to accept it.

Masterrmind...........
Master your Mind then Master your Trades
  • #7,746
  • Jul 4, 2014 10:20am Jul 4, 2014 10:20am
Quoting Masterrmind
{quote} A possibility: Failed due to S&R......look across to the left of the screen and check where PA met with resistance and then support. This may not be the answer you are looking for but it is a valid suggestion. Masterrmind...........
Mastermind, I did all by rules...I do know what you mean but there is no rule on looking left
  • #7,747
  • Jul 4, 2014 10:24am Jul 4, 2014 10:24am
Quoting Masterrmind
{quote} Have a great weekend Udine. Looking forward to next week but now I have a weekend of engagements to enjoy. Masterrmind..........

Your getting engaged bud?
Passion, Persist, Patience, Protect
  • #7,748
  • Jul 4, 2014 10:24am Jul 4, 2014 10:24am
Quoting driven18
{quote} Mastermind, I did all by rules...I do know what you mean but there is no rule on looking left
Yes I think you did everything right but even when you do everything right there will be instances when the trade simply does not go to profit.

This is just a part of trading as no system is ever 100% right no matter if you follow all the rules.

Hope that helps but it will not explain the loss.

I'm giving you a reason for trade failure NOT related to the system but a reason I genuinely believe is the cause of the loss.

Price simply would not break lower from that level and bounced off it and upwards.

Masterrmind............
Master your Mind then Master your Trades
  • #7,749
  • Jul 4, 2014 10:26am Jul 4, 2014 10:26am
Quoting Masterrmind
{quote} Yes I think you did everything right but even when you do everything right there will be instances when the trade simply does not go to profit. This is just a part of trading as no system is ever 100% right no matter if you follow all the rules. Hope that helps but it will not explain the loss. I'm giving you a reason for trade failure NOT related to the system but a reason I genuinely believe is the cause of the loss. Price simply would not break lower from that level and bounced off it and upwards. Masterrmind............
Yes, agree..but Udine did not take this trade and then explain that it was not suppose to be taken...I and probably you would like to know why?
  • #7,750
  • Jul 4, 2014 10:27am Jul 4, 2014 10:27am
Quoting FXEmpire
{quote} Your getting engaged bud?
No sorry mate.

It's related to weekend commitments nothing to do with getting engaged.

Thanks..

Masterrmind..........
Master your Mind then Master your Trades
  • #7,751
  • Jul 4, 2014 10:31am Jul 4, 2014 10:31am
Quoting Masterrmind
{quote} No sorry mate. It's related to weekend commitments nothing to do with getting engaged. Thanks.. Masterrmind..........
ah ok my miss read, lol

enjoy your weekend.
Passion, Persist, Patience, Protect
  • #7,752
  • Jul 4, 2014 10:32am Jul 4, 2014 10:32am
Quoting FXEmpire
{quote} ah ok my miss read, lol enjoy your weekend.
Same to you.......

Masterrmind........
Master your Mind then Master your Trades
  • #7,753
  • Jul 4, 2014 10:42am Jul 4, 2014 10:42am
Quoting driven18
{quote} Yes, agree..but Udine did not take this trade and then explain that it was not suppose to be taken...I and probably you would like to know why?
d18.. if you don't mind me yo elaborate on..
where your pointing is not a signal.. bcz it's not the first 00 line cross on that hour.
if you zoom to 15 min chart you will see that..
if still confused then let me know I post a chart explanation for you,
Passion, Persist, Patience, Protect
  • #7,754
  • Jul 4, 2014 10:44am Jul 4, 2014 10:44am
Quoting driven18
{quote} Yes, agree..but Udine did not take this trade and then explain that it was not suppose to be taken...I and probably you would like to know why?
Driven, if i understood well, Udine takes only 10 pips per day, once he gets 10 pips the trading day is over.
He gets the first two trades successfully so game over.
But j'm still studying this thread, so wait for the response of Udine.

PS.
Besides no trade to 000 level, remember no Round Number Trade? Ten pips less or ten pips more
  • #7,755
  • Jul 4, 2014 10:44am Jul 4, 2014 10:44am
Quoting driven18
So, there is still no understanding why this loss trade(see white arrow) should not be taken...it was in sync with EJ and at the proper level...all per rules..comments? {image}
Masterrmind is right, S&R levels must be in your chart and in mind)

Here is another answer. Correlation is good(14 bar period M15), but if we look at EJ chart we see RmDn<10 and price touched RgL.
That's another confirmation of high-risk trade.
  • #7,756
  • Jul 4, 2014 10:48am Jul 4, 2014 10:48am
Quoting driven18
{quote} Yes, agree..but Udine did not take this trade and then explain that it was not suppose to be taken...I and probably you would like to know why?
Yes I took a 10 pip loss on that trade as already mentioned in the thread which was when I actually said that level was "as strong as a rock" or similar words.

It would have paid to check say the H1 time frame prior to taking the trade but it's always easy to do in hindsight (next time I will though that's for sure)

There could be any number of reasons why other traders did not take the trade.

1. They were already in 2 running trades.
2. They had several pending orders of which at least one was about to be triggered
3. They were not watching the GJ chart at the time
4. etc

So it will be difficult to pin down the reason.

Best idea is to ask the question. Which is what you are trying to do here but try asking Udine if you wish.

ps. As far as my understanding goes with Udine's Method there is no reason at all not to take that trade!

Good luck

Masterrmind..........
Master your Mind then Master your Trades
  • #7,757
  • Jul 4, 2014 10:48am Jul 4, 2014 10:48am
Quoting FXEmpire
{quote} d18.. if you don't mind me yo elaborate on.. where your pointing is not a signal.. bcz it's not the first 00 line cross on that hour. if you zoom to 15 min chart you will see that.. if still confused then let me know I post a chart explanation for you,
Are you saying that this 00 level was breached 15 min earlier and we should not take that trade this hour? If yes, then it is not in the rules..

Please show on the chart...
  • #7,758
  • Jul 4, 2014 10:51am Jul 4, 2014 10:51am
Quoting driven18
So, there is still no understanding why this loss trade(see white arrow) should not be taken...it was in sync with EJ and at the proper level...all per rules..comments? {image}
Hi D,

See the attached chart.

You are not allowed to trade in FF at 175.20. So ruled out.

You can trade 175.10 according to rules ( London open )

You can not take trade at 175 ( RN )
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpym15.png Size: 62 KB
Intraday only.
  • #7,759
  • Jul 4, 2014 10:52am Jul 4, 2014 10:52am
Quoting Masterrmind
{quote} Yes I took a 10 pip loss on that trade as already mentioned in the thread which was when I actually said that level was "as strong as a rock" or similar words. It would have paid to check say the H1 time frame prior to taking the trade but it's always easy to do in hindsight (next time I will though that's for sure) There could be any number of reasons why other traders did not take the trade. 1. They were already in 2 running trades. 2. They had several pending orders of which at least one was about to be triggered 3. They were not watching...
Udine responded in this thread...something about rule #5...but rule #5 have no relation to this trade..
  • #7,760
  • Jul 4, 2014 10:55am Jul 4, 2014 10:55am
Quoting navk
{quote} Hi D, See the attached chart. You are not allowed to trade in FF at 175.20. So ruled out. You can trade 175.10 according to rules ( London open ) You can not take trade at 175 ( RN ) {image}
It was during LO and we can trade 174.90 level
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