As simple as possible: 00 level trading

to give you an idea of homework I once did...

a thread where i started to find my first successful system.... (of Dredding82), I made a pdf file of all his posts and read, re-read every damn day..

Udine

I know it's commonsense I be the first to tell you.. trend is nowhere and not trending..

so why not make it a hard rule and stop the fuss about these kind of questions.. thats all i am saying.


one question... do you ever take such signals?

start posting seriously or you will have the honour to be the second person on ignore !!!

page 1, post 1

word file.. open it

look for Step 1....

Step 1: starting with the general rule: Trade with the trend..
My simple definition of trend:
If price is higher than the daily open, the trend is UP, so trade only long
If price is lower than the daily open, the trend is DOWN, so only trade short.
My daily open simply starts at the new day of my broker..., nothing special..

Udine

be happy........don't trade with emotional.........lot of useful tip inside this tread........please read and read until u yourself understand...........if want to success in Forex trading u need to learn and learn till got whatever u want . just my 2 cent opinion..........bravo to the creator of this tread.

Hi all traders
just be calm, real trading is not so easy, it is very stressful, respect each other and be patient, we all can learn the system.

Thanks to all contributors.

I know it's sometimes difficult to obtain what you want when you don't know perfectly a platform.
It's been my case when I first joined this thread as I was using a completely different one.
And there is so many interesting things to read in this thread that it's certainly better to concentrate on trading then on IT.

So here's my modest contribution to this thread and to all what Udine gives us.

But please, READ THE RULES AND THE THREAD for all what's related to trading...
Stay calm and polite with each other.
You'll see, this thread is a real wonder on both the trading and the human point of view.

It's not always easy.
But it really deserves it...



How to set your EA to manage your stops and take profit
according to Udine's rules...

(Zips with EA and parameters are included at the end of this post.)


First, maybe you could use WUKAR_WB_Trail_v1_3_2e.mq4 from ericjschroed
http://www.forexfactory.com/showthre...35#post7543135
instead of the separated Wukar and Wheelbarrel.


Both work perfectly well, but Eric's may be less confusing as everything is integrated in the same EA and the same interface.
It also handles OCO orders.



This is a copy of my parameters with a 5.5 commission.

The zip file contains both Eric's EA and the presets parameters for 0 and 5.5 commissions.
Just put this EA in your C:\Program Files\MetaTrader 4\MQL4\Experts
and the presets in C:\Program Files\MetaTrader 4\MQL4\Presets

Drag the EA on your screen
Use these parameters

Then click on This button (depends on your language)

And load the presets of your choice.
Clic OK.
Then on your main screen, clic Autotrading to activate it.

And check in Tools / Options that all is checked like this (depends on your language) :


It should work fine now.
The little smiley on the top right of your screen should be smiling ;-)

Test that everything is fine with a few test orders and when it's ok, create a template (Right clic / Templates / Save Template)
Then apply this template to your other pairs (Right clic / Templates and select the one you've just created...

Hope this helps...



NB : The other zips contain the last versions of wheelbarrel and wukar with the parameters recommended by Udine.
It works fine too.

Common Sense- Trade the Breakout, and then trade the retracement back up.

now was that so difficult???

posting something normal, without any form of synicism ???

Udine

sell at highs, buy at lows, simple

Okay i just figured out why i was getting odd results.. my WUKAR EA is not working!! it shows a smiley face but does not close when trade is either at 5 pips or -10 pips! I'm going to try Ff-Fx's file and see if it works

Gee... how many Burpees are there on that chart...

Suggestion: Study the rules on post #1, then read the first 20 pages as well as the last 20 pages. All the answers will be there. Nothing has changed from day 1.

Burpees.. What does this mean ?

just wonder , who opens a roadmap and then says "I should be able to put another page in there "........

Oh that's so good Qed..........

Masterrmind............

Thank you very much Ff-fx. Udine can attach a link to 1 post? This saves you from unnecessary 1000 + questions. Excuse my English

Hello everyone,
I have been following this thread from the start but now feel compelled to post.

First and foremost, thanks to Udine for sharing. People should remember he has not tried to sell anything to anyone, he is merely sharing his idea and regardless whether you agree with him or not, we should appreciate the effort.

Personally, i like this idea..i have back tested, demo traded, and recently gone live with it, using slightly less risk. I have made many mistakes, even on live trades, but am slowly getting the correct mindset for it, and the more that happens the more i think it is for me. And most importantly, despite some silly mistakes, i am still positive! I have also read every post in this thread....i do my homework!

Today in particular, i have seen many of the repeated issues raised, involving DO lines, trends/directions etc. To me this is focusing on the wrong points. Those looking for a purely mechanical system....i wish you luck, but in my experience no absolutely mechanical system will be profitable long term. You must apply some (not so?) common sense to your trades, and i feel Udine's explanation about not entering tonight's GJ 500 lvl trade is absolutely correct and requires no elaboration.
Call it trend/direction, whatever you want but clearly if the price is still hovering at DO, neither is present, so, why would you trade it?!

Udine cannot, and should not be expected to update post #1 with every small detailed amendment to his rules. Those are the rules set out that he uses. Many people here have their own variables, such as risk/pairs/sessions etc. The framework is there, and it is clear to anyone who has traded the markets for long enough that the underlying principle is good (my status may be junior member here, but i have been trading for 5 +years and i trade full time now).

The bottom line is your bottom line! If you like the system, and it is profitable for you, then fantastic. If it's not for you, then no amount of clarification nor amendments will make it profitable.

Just my two cents...but i for one will be back for more tomorrow after reaching my daily target today again.

sorry guys/girls,

but sometimes even my patience runs out..

Udine

Thanks Ff-Fx!!! Haven't used an EA before so thanks for the instructions also. Going to have a go at them now.

have a week off Udine , see how every one goes without the training wheels ps , maybe just a few days eh?