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As simple as possible: 00 level trading

  • #7,921
  • Jul 7, 2014 2:28am Jul 7, 2014 2:28am
Quoting nitecop
{quote} that made me think.. if suppose the price came back to 138.600 it would still be invalid right, due to fact the first level is gone even if its in the wrong direction

wrong... .600 is a valid pending order

Udine
Sleep less, live fast, as it aint gonna last
  • #7,922
  • Jul 7, 2014 2:28am Jul 7, 2014 2:28am
Udine, I think I start to understand what is sync.
You take signal only if another pair give signal too?
  • #7,923
  • Jul 7, 2014 2:29am Jul 7, 2014 2:29am
OK, thank you. So no pending order and let's wait.
Porta itineris dicitur longissima esse
  • #7,924
  • Jul 7, 2014 2:29am Jul 7, 2014 2:29am
Rule 2. Entry ONLY the FIRST 00 level

"First level is the one which is comes first as soon as the new hour opens"
  • #7,925
  • Jul 7, 2014 2:31am Jul 7, 2014 2:31am
Quoting Udine
{quote} wrong... .600 is a valid pending order Udine
Udine,

But the first cross was .700, is the .600 still valid if a retrace occures?

Archie
  • #7,926
  • Jul 7, 2014 2:34am Jul 7, 2014 2:34am
Quoting Archie
{quote} Udine, But the first cross was .700, is the .600 still valid if a retrace occures? Archie

only the first 00 level on either side.

thanks udine!
  • #7,927
  • Jul 7, 2014 2:37am Jul 7, 2014 2:37am
Quoting Archie
{quote} Udine, But the first cross was .700, is the .600 still valid if a retrace occures? Archie
Udine, I think a clarification of Rule 2 (if I understand it) would be:

Entry ONLY first Valid 00 Level Above OR Below H1 open price.

(someone beat me to it!)
  • #7,928
  • Jul 7, 2014 2:46am Jul 7, 2014 2:46am
The only trade that would have been successful since London Open by now was GJ short @.100, too bad it was against the rules!
"Every battle is won before it's fought."
  • #7,929
  • Jul 7, 2014 2:47am Jul 7, 2014 2:47am
Quoting ericjschroed
{quote} Udine, I think a clarification of Rule 2 (if I understand it) would be: Entry ONLY first Valid 00 Level Above OR Below H1 open price. (someone beat me to it!)
i think the rule is very clear...even clearer if you follow the thread
  • #7,930
  • Jul 7, 2014 2:47am Jul 7, 2014 2:47am
Trade 2 short GA....TH

Attached Image (click to enlarge)
Click to Enlarge Name: 2014-07-07 02_46_26-GBPAUD,M15.png Size: 28 KB
  • #7,931
  • Jul 7, 2014 2:50am Jul 7, 2014 2:50am
Not bad for today...

3 trades in Asia 2 TH.... 1TS

London....2 trades; 2 Th....

See ya tomorrow....
  • #7,932
  • Jul 7, 2014 2:52am Jul 7, 2014 2:52am
GBPAUD TP
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaud-h1-fxopen-investments-inc.png Size: 59 KB
  • #7,933
  • Jul 7, 2014 2:52am Jul 7, 2014 2:52am
today first trade

AU -- SL
Attached Image (click to enlarge)
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  • #7,934
  • Jul 7, 2014 2:54am Jul 7, 2014 2:54am
Quoting panamamike
Trade 2 short GA....TH {image}
Great trade Mike.

Valid and by the rules....well done.

Masterrmind...........
Master your Mind then Master your Trades
  • #7,935
  • Jul 7, 2014 2:54am Jul 7, 2014 2:54am
Quoting yag
{quote} i think the rule is very clear...even clearer if you follow the thread
Are you trying to be insulting? I thought we had enough of that here. Just because it is clear to you does not mean everyone else in the world understands it.
  • #7,936
  • Jul 7, 2014 2:58am Jul 7, 2014 2:58am
Quoting ericjschroed
{quote} Are you trying to be insulting? I thought we had enough of that here. Just because it is clear to you does not mean everyone else in the world understands it.
no, i was not insulting.
  • #7,937
  • Edited 3:19am Jul 7, 2014 3:01am | Edited 3:19am
Quoting ericjschroed
{quote} Are you trying to be insulting? I thought we had enough of that here. Just because it is clear to you does not mean everyone else in the world understands it.
I thought that was a bit rough on you as well Eric............

I'm sure there are many other traders who have not understood that as well.

Best way to understand it very clearly is to go to your EJ M15 chart and simply run through an example trade.

1. Look at the open price @ London
2. Be aware of the Daily open price on your chart
3. identify the 2 "00" levels ie first level will be long, the second level will be short
4. Choose the level that's VALID by the rules (H1 and D1 must be the same color - red for short, green for long trades)
5. Place a valid pending order and wait for TP, TS or SL (hopefully TP)

Hope that helps.

If not PM me...only too happy to PM you a full example.

Masterrmind...........
Master your Mind then Master your Trades
  • #7,938
  • Jul 7, 2014 3:02am Jul 7, 2014 3:02am
Pending orders:
EJ S
GJ S
  • #7,939
  • Jul 7, 2014 3:03am Jul 7, 2014 3:03am
Deleted GU pending and placed a pending on GJ @ 174.900
  • #7,940
  • Jul 7, 2014 3:04am Jul 7, 2014 3:04am
Hello, i've got a question:

For example EUR USD. Now New Hour, we set pending order on 1.35800 sell (as in rules)

should we check during the hour: will price cross level 1.35900 or not? and if cross should i cancell pending order short 1.35800 in this hour?

sorry for my English

Thank you in advance!!
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