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As simple as possible: 00 level trading

  • #8,541
  • Jul 8, 2014 4:55pm Jul 8, 2014 4:55pm
Quoting Ff-fx
{quote} Hello Ministeren. {quote} You're making a little confusion. In fact, the numbers are not in pips, but in decimals of pips, like your platform. When you see EURJPY @ 138.218, it's 138.21 pips and 8 decimals of pips. So, to manage correctly your orders, the EA has to count in decimals of pips too. Then 100 = 10 pips dot 0 decimals of pip (10.0) and 50 = 5 pips dot 0 decimals of pip (5.0). That's the parameters Udine uses. {quote} OCO mean Order Cancel Order. When you have a pending long and a pending short (on the same screen, of course),...

Thanks a lot mr Ff-fx :=). That really helped. !
  • #8,542
  • Jul 8, 2014 4:59pm Jul 8, 2014 4:59pm
Would not want to be in Brazil for the next few days ……… things could get real ugly ​
  • #8,543
  • Edited 7:01pm Jul 8, 2014 6:23pm | Edited 7:01pm
Quoting lazyegg
{quote} Hello Mastermind, since you have exp on Tokyo market, do you mind to share with us some good pairs at Tokyo market can be trade?
Hi lazyegg,

First off I trade several pairs but not all at the same time.

I try to limit max open orders = 2 but sometimes 3 are active due to pending order activation times being close to each other (most other pending orders will be deleted)

Currently I search through 20 pairs before I do anything. (yes 20 pairs!)

I DO NOT recommend that you or anyone else for that matter do this until you are truly comfortable trading (I have no idea as to your trading ability!)

I try to always include EJ and GJ (Udine's favorites) as well as GU and EU since this is more helpful to new traders applying Udine's Method.

Look at any of my recent screen shots and you will see the dashboard with 20 pairs visible (these are the pairs I currently use BUT may change in the future).

For the Tokyo session JPY pairs are the favorite BUT I choose the best from the list (explained above) in my opinion be they JPY or something else.

I recommend that all new traders use EJ and GJ as success with these pairs will give you (in general) your daily target of 2% (Gross) after 2 successful trades.

As you will now understand I cannot give you a list of pairs I trade simply because this list most likely will be different on different trading days!

Even as I type this post I do not know which pairs I will be trading in today's session until I have gone through and analysed all pairs and selected as best as possible based on Udine guidelines, applicable news events and my sense of market analysis.

Good trading

Masterrmind.............
Master your Mind then Master your Trades
  • #8,544
  • Jul 8, 2014 7:01pm Jul 8, 2014 7:01pm
Morning, guys.

EJ moved last hour, and I think EJ and GJ are in sync, so I put the pending order of GJ short 173.800
My hope has been almost completely shattered, but not completely yet
  • #8,545
  • Jul 8, 2014 7:18pm Jul 8, 2014 7:18pm
Quoting Masterrmind
{quote} Hi lazyegg, First off I trade several pairs but not all at the same time. I try to limit max open orders = 2 but sometimes 3 are active due to pending order activation times being close to each other (most other pending orders will be deleted) Currently I search through 20 pairs before I do anything. (yes 20 pairs!) I DO NOT recommend that you or anyone else for that matter do this until you are truly comfortable trading (I have no idea as to your trading ability!) I try to always include EJ and GJ (Udine's favorites) as well as GU and EU...
Thank you Mastermind, I got it and thank you for the warning
since it is so flat today, i will wait for London
Never say no to PIPS
  • #8,546
  • Jul 8, 2014 7:22pm Jul 8, 2014 7:22pm
Quoting easygoing
Morning, guys. EJ moved last hour, and I think EJ and GJ are in sync, so I put the pending order of GJ short 173.800
Yes good!

Masterrmind...........
Master your Mind then Master your Trades
  • #8,547
  • Jul 8, 2014 7:24pm Jul 8, 2014 7:24pm
Quoting lazyegg
{quote} Thank you Mastermind, I got it and thank you for the warning since it is so flat today, i will wait for London
That is up to you but Tokyo can fire things up somewhat and that's when you need to be watching the screen for any activity on your charts.

Masterrmind.............
Master your Mind then Master your Trades
  • #8,548
  • Jul 8, 2014 7:32pm Jul 8, 2014 7:32pm
EA to target. That was a close one. Halfway there -
Attached Image
Small disciplines repeated with consistency lead to great achievements.
  • #8,549
  • Jul 8, 2014 7:32pm Jul 8, 2014 7:32pm
1st trade
EA -> TP
Attached Image (click to enlarge)
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  • #8,550
  • Jul 8, 2014 7:35pm Jul 8, 2014 7:35pm
thank you Mastermind for your precious advice

My peding order of GJ is still valid and I just wait and see which direction the prices wanna go...
My hope has been almost completely shattered, but not completely yet
  • #8,551
  • Jul 8, 2014 7:36pm Jul 8, 2014 7:36pm
AU close but no cigar.
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Lets WUKAR FIFO!! - Udine
  • #8,552
  • Jul 8, 2014 7:37pm Jul 8, 2014 7:37pm
Quoting easygoing
thank you Mastermind for your precious advice My peding order of GJ is still valid and I just wait and see which direction the prices wanna go...
My pending order today not triggered too, EA less than 1 pips, then go without me until 10 pips far away (10 pips is my target)

Sometimes, it occurs.
Outcome is not important at all, but correct technique is what only matters
  • #8,553
  • Jul 8, 2014 7:42pm Jul 8, 2014 7:42pm
Quoting szpowerx
{quote} My pending order today not triggered too, EA less than 1 pips, then go without me until 10 pips far away (10 pips is my target) Sometimes, it occurs.
yah it occurs.

EA GA spreads of my broker are almost 3 pips, but I would have won this morning because the prices moved a lot.

It seems I have more homework to do.
My hope has been almost completely shattered, but not completely yet
  • #8,554
  • Jul 8, 2014 7:48pm Jul 8, 2014 7:48pm
Quoting easygoing
{quote} yah it occurs. EA GA spreads of my broker are almost 3 pips, but I would have won this morning because the prices moved a lot. It seems I have more homework to do.
yeah, my spread of EA is 3+ pips, GA is 5+ pips, that is why i have to modify Udine's system, my TP is 10 pips now.
Outcome is not important at all, but correct technique is what only matters
  • #8,555
  • Jul 8, 2014 7:51pm Jul 8, 2014 7:51pm
Quoting szpowerx
{quote} yeah, my spread of EA is 3+ pips, GA is 5+ pips, that is why i have to modify Udine's system, my TP is 10 pips now.
Do your research please.

I'm less than half of what you guys are quoting......

Masterrmind.............
Master your Mind then Master your Trades
  • #8,556
  • Jul 8, 2014 7:56pm Jul 8, 2014 7:56pm
Quoting Masterrmind
{quote} Do your research please. I'm less than half of what you guys are quoting...... Masterrmind.............
Yes, LMAX is a good candidate for me,

But not planning to switch right now.

Part of the reason is, i love 10 pips more, a bit good R:R for me.
Outcome is not important at all, but correct technique is what only matters
  • #8,557
  • Jul 8, 2014 8:00pm Jul 8, 2014 8:00pm
China's CPI in half hour, red news

Cancel my pending orders now, two trades is just within 1 pip, eventually not triggered.

That is all for today's Tokyo session.
Outcome is not important at all, but correct technique is what only matters
  • #8,558
  • Jul 8, 2014 8:00pm Jul 8, 2014 8:00pm
Quoting szpowerx
{quote} yeah, my spread of EA is 3+ pips, GA is 5+ pips, that is why i have to modify Udine's system, my TP is 10 pips now.
Broker research.... needs to be done.
Intraday only.
  • #8,559
  • Jul 8, 2014 8:03pm Jul 8, 2014 8:03pm
Quoting navk
{quote} Broker research.... needs to be done.
I have good candidate now, not plan to switch yet. Cause i love 10 pips more.
Outcome is not important at all, but correct technique is what only matters
  • #8,560
  • Jul 8, 2014 8:38pm Jul 8, 2014 8:38pm
EA +>5 TP

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Masterrmind............
Master your Mind then Master your Trades
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