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As simple as possible: 00 level trading

  • #7,841
  • Jul 6, 2014 9:17am Jul 6, 2014 9:17am
Quoting jamesph61
{quote} Not Plagiarism flx …. trading levels has been around for decades, and all variants are based around 00’s and trend confirmation, Udine acknowledged the fact from day one, he has done a wonderful job quantifying a system based on a well worn methodology, but it is a common one. The power of this variation of it is …..…………... Udine himself ……. his teaching method and an almost selfless attitude has empowered and built confidence is most that come across this thread, confidence in a system is one of the hardest things to cultivate, once you...

yes its all good

Udine work its the most important


also we can use (if you want) a psy indicator its another point to study
  • #7,842
  • Jul 6, 2014 9:33am Jul 6, 2014 9:33am
Quoting Juan007
{quote} yes its all good Udine work its the most important also we can use (if you want) a psy indicator its another point to study
And the dashboard too is an option one must have.
Intraday only.
  • #7,843
  • Jul 6, 2014 10:28am Jul 6, 2014 10:28am
Udine is the same as Netherlands coach
select the best tools (indicators)
training strategy (players)
select the decisions depending on how the game is presented
taught to work to get the best results


holland coach
change lead to 2 minutes before in order to gain the maximum penalties
has a specialized archer
congratulations to both Udine and coach holland
  • #7,844
  • Jul 6, 2014 11:28am Jul 6, 2014 11:28am
Anybody following the federer match!!!.. the 4th set just completed and it was a pure art performance by the masterooo to push it for the final set.. magnificent display of tennis.
Passion, Persist, Patience, Protect
  • #7,845
  • Jul 6, 2014 1:20pm Jul 6, 2014 1:20pm
Quoting jamesph61
{quote} Not Plagiarism flx …. trading levels has been around for decades, and all variants are based around 00’s and trend confirmation, Udine acknowledged the fact from day one, he has done a wonderful job quantifying a system based on a well worn methodology, but it is a common one. The power of this variation of it is …..…………... Udine himself ……. his teaching method and an almost selfless attitude has empowered and built confidence is most that come across this thread, confidence in a system is one of the hardest things to cultivate, once you...

Sometimes the method of delivery is as important as the content of the lesson plan. Udine's patient gentle and simple teaching style is a big part of what is making this thread a success.
  • #7,846
  • Jul 6, 2014 2:31pm Jul 6, 2014 2:31pm
Quoting Udine
With regards to system analysis, I posted this over three years ago in another thread here on ff.com: Gleneagles, a great trader wrote the first one, and the second one comes from the james16 thread. I. System analysis: 1. is it easy to trade in terms of complex analysis and technical indicators? 2. is the system consistent for an average of 200 pips/month (one pair = 50 pips/week = 10 pips/day)? 3. can I fit it into my risk profile? 4. are there periods of uncomfortable drawdowns? 5. long term, intraday or scalping? For me all the factors are important...
Hi Udine. Im from the j16 thread and was just wondering where you found the above post. I have not seen it posted anywhere in that thead. Maybe I missed it.

Also, In your rules you mention d1 and h1 candles must be the same colour. Do you mean the candles must close that colour ?

Take care
Dan
  • #7,847
  • Jul 6, 2014 3:33pm Jul 6, 2014 3:33pm
Another question re: Rule 2... If the first 00 level this hour is Short at .100 (rule 5), do we NOT sell the .000 in the same hour? thanks.
  • #7,848
  • Jul 6, 2014 3:50pm Jul 6, 2014 3:50pm
Dear Udine,

First of all, tkz for sharing your method with FF community.

Your system looks fine, but this trend determining method, using the opening price is AWESOME to a day trader. I've just put this together with my methods, thank you.

My broker uses Sidney opening to build the daily candle, closing at New York session. So, I give a quickly review on this Sidney opening level and seems to work fine (the market respect this a lot) as well as your opening level at Frankfurt, but sure, we got zero volume and no price action until London sessions begins.

What you guys think about using this Sidney opening level as the "water line" to know the market bias (trend) for that day?
  • #7,849
  • Jul 6, 2014 4:45pm Jul 6, 2014 4:45pm
Quoting gustcoelho
Dear Udine, First of all, tkz for sharing your method with FF community. Your system looks fine, but this trend determining method, using the opening price is AWESOME to a day trader. I've just put this together with my methods, thank you. My broker uses Sidney opening to build the daily candle, closing at New York session. So, I give a quickly review on this Sidney opening level and seems to work fine (the market respect this a lot) as well as your opening level at Frankfurt, but sure, we got zero volume and no price action until London sessions...
My brokers use the NY close/Sidney open as the new candle and it has worked just fine for me.

GREEN pips to all.
  • #7,850
  • Jul 6, 2014 5:48pm Jul 6, 2014 5:48pm
Quoting SmoothTrader
{quote} My brokers use the NY close/Sidney open as the new candle and it has worked just fine for me. GREEN pips to all.
Hey SmoothTrader! Tkz for your answer.

Let me ask you.. in which session did you put on your buy/sell orders? And what kind of orders do you use?

tkz again
  • #7,851
  • Jul 6, 2014 6:20pm Jul 6, 2014 6:20pm
Quoting gustcoelho
Dear Udine, First of all, tkz for sharing your method with FF community. Your system looks fine, but this trend determining method, using the opening price is AWESOME to a day trader. I've just put this together with my methods, thank you. My broker uses Sidney opening to build the daily candle, closing at New York session. So, I give a quickly review on this Sidney opening level and seems to work fine (the market respect this a lot) as well as your opening level at Frankfurt, but sure, we got zero volume and no price action until London sessions...
Good stuff gustcoelho. fyi Sydney is spelt with a "y".

Green pips from down-under mate!!
  • #7,852
  • Jul 6, 2014 6:31pm Jul 6, 2014 6:31pm
Quoting gustcoelho
{quote} Hey SmoothTrader! Tkz for your answer. Let me ask you.. in which session did you put on your buy/sell orders? And what kind of orders do you use? tkz again
I trade the Tokyo opening and the London opening because of where I live, USA.

The orders that you use are the same no matter what session you are trading. They are all there on page 1. If it meets the criteria for going long a buy stop at the appropriate level is placed, and if a short is called for a sell stop is placed at the appropriate level.

I would suggest rereading page one with all the rules. Then read the whole thread to follow examples of how to do it right and what constitutes a mistake and how to avoid them.

You can always PM me.

GREEN pips to all.
  • #7,853
  • Jul 6, 2014 6:35pm Jul 6, 2014 6:35pm
Hey Smooth, was just wondering how you are finding tokyo open and what pairs are you finding to be the best during this time? I am concentrating on Franky/London open for now because I feel that is going to be the best way to get profitable but longer term tokyo makes more sense so I am demo trading tokyo as well...

Thanks mate
  • #7,854
  • Jul 6, 2014 6:39pm Jul 6, 2014 6:39pm
Quoting flx69
{quote} Funny, it's a copy & paste of Udine's system, even using the same indis ! Reading the new digital world forum post #6 dated 1 July 2014, is like reading post #1 of this forum... Plagiarism.
Yes, that is exactly what I thought when I first saw Udine post "his" system, that it was a copy/paste of someone else's!!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #7,855
  • Jul 6, 2014 6:43pm Jul 6, 2014 6:43pm
Quoting Callum
Hey Smooth, was just wondering how you are finding tokyo open and what pairs are you finding to be the best during this time? I am concentrating on Franky/London open for now because I feel that is going to be the best way to get profitable but longer term tokyo makes more sense so I am demo trading tokyo as well... Thanks mate
I follow 7 pairs: eur/nzd, gbp/jpy, gbp/aud, eur/aud, gbp/chf, gbp/usd, eur/jpy. I don't trade them all in each session. I tend to place my stop orders in all that qualify as 'GOOD' trade candidates, ie not too close to the hourly close or daily open. Then I let the markets choose. The first 3 that are filled win and I cancel the remaining orders. So far it has worked for me. Many times I'm done for the day within the first hour of trading. Then if I want to go for bonuses, I reduce my size by a factor of 10 and continue.

GREEN pips to all.

Tokyo opens in just over 15 minutes. Time to get all my trading 'ducks' in a row.
  • #7,856
  • Jul 6, 2014 6:52pm Jul 6, 2014 6:52pm
Quoting SmoothTrader
{quote} I trade the Tokyo opening and the London opening because of where I live, USA. The orders that you use are the same no matter what session you are trading. They are all there on page 1. If it meets the criteria for going long a buy stop at the appropriate level is placed, and if a short is called for a sell stop is placed at the appropriate level. I would suggest rereading page one with all the rules. Then read the whole thread to follow examples of how to do it right and what constitutes a mistake and how to avoid them. You can always PM...
tkz for the answer

yes I read it and get a little confused. So I downloaded all the material Udine has put on the first post, and then thinks starts to make sense to me. I'm reading again and starting to look for further details in this almost 400 pages

But I think this system won't work for me as my broker (FXDD) is working with big spreads.. for example, the EURJPY has a 3,5 pip spread and GBPJPY almost 5 pip spread. Think it's impossible right?! Have to look for another broker. The only decent spreads I have is for EURUSD and USDJPY, something around 2 pips in the most of time.

What's the max spread do you guys recommend to work with this system?

Tkz again
  • #7,857
  • Jul 6, 2014 6:52pm Jul 6, 2014 6:52pm
Thanx Udine re market panel controller
Whats That? you're trading What?
  • #7,858
  • Jul 6, 2014 6:53pm Jul 6, 2014 6:53pm
Thanks for the response smooth, green pips to you too
  • #7,859
  • Jul 6, 2014 7:06pm Jul 6, 2014 7:06pm
hey Smooth,

If I'm right you've been filled in GBPUSD.

Am I right?

OOOOR you didn't take the trade because the first 00 level was taken at 1.71600 in the 2nd hour of Sidney session?

so this break at 1.71500 should not been taken.. ?
  • #7,860
  • Jul 6, 2014 7:13pm Jul 6, 2014 7:13pm
Quoting gustcoelho
{quote} tkz for the answer yes I read it and get a little confused. So I downloaded all the material Udine has put on the first post, and then thinks starts to make sense to me. I'm reading again and starting to look for further details in this almost 400 pages But I think this system won't work for me as my broker (FXDD) is working with big spreads.. for example, the EURJPY has a 3,5 pip spread and GBPJPY almost 5 pip spread. Think it's impossible right?! Have to look for another broker. The only decent spreads I have is for EURUSD and USDJPY,...
In my opinion you don't want much more than 1 pip spread. You need to look for a broker with ECN accounts and then do some research on spreads on the pairs you want to trade. You will pay commission for having a tight spread but its worth it, can be the difference between make or break
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