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As simple as possible: 00 level trading

  • #8,481
  • Jul 8, 2014 8:43am Jul 8, 2014 8:43am
Quoting fx-sniper
{quote} just checking...i assume the EU trade short @ 8am NY time is valid, but caution should be exercised because it previously bounced off the 1.3590 level previously today? just checking (and trying to learn) from all the conversations
I will not like to trade EU as ADR is very less and just 40 pips.

You must choose pairs with high ADR.

GJ,GA,EA are better options.
Intraday only.
  • #8,482
  • Jul 8, 2014 8:50am Jul 8, 2014 8:50am
Quoting gustcoelho
{quote} i take a short at EJ @ 138.200, lets see. this is my first one on a demo account.
altought i did brake the rules (RmDn red), i got my +5 pips from first trade (demo). so, tkz Udine.

I wish I live in other country, because the london opening here is at 4 am... very complicated to trade. need a robot
  • #8,483
  • Jul 8, 2014 8:55am Jul 8, 2014 8:55am
Quoting gustcoelho
{quote} altought i did brake the rules (RmDn red), i got my +5 pips from first trade (demo). so, tkz Udine. I wish I live in other country, because the london opening here is at 4 am... very complicated to trade. need a robot

nahh. only need to sleep faster

btw good match later today

Udine
Sleep less, live fast, as it aint gonna last
  • #8,484
  • Jul 8, 2014 8:55am Jul 8, 2014 8:55am
Quoting gustcoelho
{quote} altought i did brake the rules (RmDn red), i got my +5 pips from first trade (demo). so, tkz Udine. I wish I live in other country, because the london opening here is at 4 am... very complicated to trade. need a robot
Wake up. Look at charts. Select chart. Drop on script for B or Sell. Use EA to manage. Go back to sleep for an hour. Do it again .
  • #8,485
  • Jul 8, 2014 8:56am Jul 8, 2014 8:56am
Quoting jmflukeiii
{quote} I'd say its more a matter of looking at the daily range. EU has moved 22 pips today. It doesn't seem to want to go anywhere.

keep talking JM …. love the affect you have on the pair
  • #8,486
  • Jul 8, 2014 8:56am Jul 8, 2014 8:56am
Quoting jamesph61
{quote} keep talking JM …. love the affect you have on the pair
Lol - it got mad! "That douche on FF is talking about us [EU] again... better get moving!"

I took the buy at 10, but not posting chart as its a burpee trade.
Small disciplines repeated with consistency lead to great achievements.
  • #8,487
  • Jul 8, 2014 8:57am Jul 8, 2014 8:57am
Quoting Udine
{quote} nahh. only need to sleep faster btw good match later today Udine
I am going to a German bar here in Panama to watch that match.
  • #8,488
  • Jul 8, 2014 8:59am Jul 8, 2014 8:59am
Quoting gustcoelho
{quote} altought i did brake the rules (RmDn red), i got my +5 pips from first trade (demo). so, tkz Udine. I wish I live in other country, because the london opening here is at 4 am... very complicated to trade. need a robot
On a live account you´d have thought twice before taking this short with RmDn in red.
Look at the long wick in the screenshot below... And PA on the bar after that... You´ve been lucky to get your 5 pips.
Don´t trade with a robot, try and get as many manual demo trades as possible under your belt !

Best of luck,
flx69
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 65 KB
  • #8,489
  • Jul 8, 2014 9:00am Jul 8, 2014 9:00am
Xux99,

I sent you a PM

Regards
Q
  • #8,490
  • Jul 8, 2014 9:02am Jul 8, 2014 9:02am
Quoting jmflukeiii
{quote} Lol - it got mad! "That douche on FF is talking about us [EU] again... better get moving!" I took the buy at 10, but not posting chart as its a burpee trade.
....... and move it did!

Masterrmind..........
Master your Mind then Master your Trades
  • #8,491
  • Jul 8, 2014 9:06am Jul 8, 2014 9:06am
Quoting Masterrmind
{quote} ....... and move it did! Masterrmind..........
It had formed a nice hinge (wedge) and fake-breaked down, then reversed back up -
Small disciplines repeated with consistency lead to great achievements.
  • #8,492
  • Jul 8, 2014 9:15am Jul 8, 2014 9:15am
yes you're right flx69, but also i think you need to be a little 'robot' with a system like that. as the rules exists, trade with them.

i think if i try to make discritionary trading, i can lose the good ones (TP) and take the bad ones (SL) ...

are you guys using some discritionary analysis besides all rules we are following?

if this system works for me (i'll have to change my live broker also) i think i'll follow your suggestion panamamike

and Udine, tkz for the support, and yes, it will be a good match for us!!! (without neymar it'll be much more complicated, but we're at home, cant lose!!!)

here we all want the finals between brazil and argentina, because of the rivality ehheh and obvious, then we need to win!!!

GO GO BRAZIL! heheh
  • #8,493
  • Jul 8, 2014 9:17am Jul 8, 2014 9:17am
Quoting jmflukeiii
{quote} It had formed a nice hinge (wedge) and fake-breaked down, then reversed back up -
JM, whilst you´re still here.

Question regarding the brilliant trading journal you made.

What´s the reasoning behind the *2 (see screenshot) in the formula in Cell O20 ? Gives me double the lot size of the reality...
Slip o/t keyboard or done for some other reason ?
Attached Image
  • #8,494
  • Jul 8, 2014 9:19am Jul 8, 2014 9:19am
Quoting flx69
{quote} JM, whilst you´re still here. Question regarding the brilliant trading journal you made. What´s the reasoning behind the *2 (see screenshot) in the formula in Cell O20 ? Gives me double the lot size of the reality... Slip o/t keyboard or done for some other reason ? {image}
Is this under the volume calculation? If so, it is because it calculates total volume traded. On the "Daily Fills" tab, you input your trade size. But that is just an entry size - the actual volume you traded is two times that (entry and exit).

I added this to keep track of how much volume I was trading. Helps when negotiating pricing discounts with brokers.
Small disciplines repeated with consistency lead to great achievements.
  • #8,495
  • Jul 8, 2014 9:25am Jul 8, 2014 9:25am
Yep, crystal clear. Hadn´t considered the entry and exit.

I´ll keep a close watch on it. Probably have a chat with my broker end July

Thanks again.
flx69
  • #8,496
  • Edited 9:58am Jul 8, 2014 9:31am | Edited 9:58am
Just took a short on silver to end the trading day (+8.5 pips).

Good luck to all the remaining traders.

Until tomorrow .........

EDIT: chart available but not posted as it was not by the rules!


Masterrmind..........
Master your Mind then Master your Trades
  • #8,497
  • Jul 8, 2014 9:38am Jul 8, 2014 9:38am
Today three trades taken,
- 2 trades with 20 PIPS taken, but the rule of my system violated by both the two trades
- 1 trade SL, -10 PIPS, this one following the rule of my system entirely

Strictly following my rules, this is a big challenge to me, you see.

I am now following the exercise from "Trade in the zone", hopefully, would strictly follow my rule.
Outcome is not important at all, but correct technique is what only matters
  • #8,498
  • Jul 8, 2014 9:45am Jul 8, 2014 9:45am
ok, due to earlier irritations from my side, I did not feel 110 % to trade..

traded the GJ and EJ with only half lotsize...

but both gave me +1% in total so done for the day..

Udine
Attached Image (click to enlarge)
Click to Enlarge Name: 140708 done.jpg Size: 177 KB
Sleep less, live fast, as it aint gonna last
  • #8,499
  • Jul 8, 2014 9:48am Jul 8, 2014 9:48am
Quoting Udine
ok, due to earlier irritations from my side, I did not feel 110 % to trade.. traded the GJ and EJ with only half lotsize... but both gave me +1% in total so done for the day.. Udine {image}
Yes it's like they came out of no where ..... almost like "gate crashing" your party!

Stay strong Udine you are very much liked by us traders I assure you of that my friend.

Masterrmind...........
Master your Mind then Master your Trades
  • #8,500
  • Jul 8, 2014 9:52am Jul 8, 2014 9:52am
Quoting Udine
ok, due to earlier irritations from my side, I did not feel 110 % to trade.. traded the GJ and EJ with only half lotsize... but both gave me +1% in total so done for the day.. Udine {image}
that's the way bud, nice..
Passion, Persist, Patience, Protect
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