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As simple as possible: 00 level trading

  • #8,861
  • Jul 9, 2014 6:46am Jul 9, 2014 6:46am
Quoting Masterrmind
{quote} The only way you can get around that is choice of broker or a trading system that uses reduced lot size and far larger TP levels. In other words a completely different trading plan all together. Therefore by applying this system you need to choose the former very wisely. Masterrmind..........
Accounting for .7 pips commission is not a completely different trading plan......in fact Udine mentions to adjust for your broker. the way i select the pairs to trade has so far allowed me to avoid a full SL. When the trade hits the BE, I cover the commissions at .7 instead of BE. It has only resulted in 1 trade hitting the BE +.7 instead of full TP. point is it has added to my bottom line with my broker.
  • #8,862
  • Jul 9, 2014 6:47am Jul 9, 2014 6:47am
so far trading with 0.8 pips commission on my shoulders is working with udines system...
  • #8,863
  • Jul 9, 2014 6:47am Jul 9, 2014 6:47am
USDCAD 700 level short seemed to have worked out. +5
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADM15_finished.png Size: 43 KB
Know your edge and trade within it
  • #8,864
  • Jul 9, 2014 6:48am Jul 9, 2014 6:48am
Nitecop... thats why "pending / Tp etc are encouraged ... no need for speed IMO
Whats That? you're trading What?
  • #8,865
  • Jul 9, 2014 6:50am Jul 9, 2014 6:50am
Quoting Qed
just another thought ......... why use Ea,s ... do the hard yards , use your brains etc etc ... think of the entertainment value...
beacuase it is fast , accurate, and automatic. all important when scalping. I do this for a living not for entertainment. having 2-4 trades on at a time it is much less stress. I drop my script to enter the trade and my intervention is done .
  • #8,866
  • Jul 9, 2014 6:53am Jul 9, 2014 6:53am
Gold +5

Attached Image
  • #8,867
  • Jul 9, 2014 6:53am Jul 9, 2014 6:53am
Quoting panamamike
{quote} Accounting for .7 pips commission is not a completely different trading plan......in fact Udine mentions to adjust for your broker. the way i select the pairs to trade has so far allowed me to avoid a full SL. When the trade hits the BE, I cover the commissions at .7 instead of BE. It has only resulted in 1 trade hitting the BE +.7 instead of full TP. point is it has added to my bottom line with my broker.
Looks like Udine is not accounting for commission in his TP, looking at his charts, they are all 5 pips spot on.
I guess he's negociated a good deal with (ICM?)...
  • #8,868
  • Jul 9, 2014 6:54am Jul 9, 2014 6:54am
ok .. not gonna argue ... I have 7 or so pending spi200 deals with TP at any1 time ... I set and forget .. heres today in real a/c ... PS THANX UDINE for PENDING importance
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Whats That? you're trading What?
  • #8,869
  • Jul 9, 2014 6:56am Jul 9, 2014 6:56am
Quoting Kobiet
Gold +5 {image}
Nice one !

Masterrmind..........
Master your Mind then Master your Trades
  • #8,870
  • Jul 9, 2014 6:56am Jul 9, 2014 6:56am
Greetings to Everyone!

Dear Udine,
Thank you for sharing this system, it's really inspiring to me.
I've been following the thread for maybe two weeks now, taking trades with increasing success as I was getting more understanding of the system and the concept.

Now I am curios about your opinion regarding the attached entry (see blue arrow, EJ LONG @ 138.400), which is valid according to the rules however I feel it does not have the best timing, which may even make it to a loss. Regarding the chart - most of the lines and ADR/ATR data I use and indi written by me based on the rules and other indies I saw in the thread(s).

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 27 KB


Thank you and regards,
Áron
  • #8,871
  • Jul 9, 2014 6:57am Jul 9, 2014 6:57am
Quoting Go5
{quote} Looks like Udine is not accounting for commission in his TP, looking at his charts, they are all 5 pips spot on. I guess he's negociated a good deal with (ICM?)...

not any longer...

Udine
Sleep less, live fast, as it aint gonna last
  • #8,872
  • Jul 9, 2014 6:58am Jul 9, 2014 6:58am
Quoting Go5
{quote} Looks like Udine is not accounting for commission in his TP, looking at his charts, they are all 5 pips spot on. I guess he's negociated a good deal with (ICM?)...
to each their own. I track the results and until it shows me what I do gives me a negative return vs flat 5, I will happily continue on.
  • #8,873
  • Jul 9, 2014 7:00am Jul 9, 2014 7:00am
Hi all,

I wonder what win rate % people are having with this system. With an inverse Risk:Reward it would have to be high. Anyone backtested this over the past several months ?

Take care
Dan
  • #8,874
  • Jul 9, 2014 7:00am Jul 9, 2014 7:00am
Quoting Masterrmind
{quote} Nice one ! Masterrmind..........
Yeah, I liked the nice retracement before it shot back up.
  • #8,875
  • Jul 9, 2014 7:02am Jul 9, 2014 7:02am
Quoting dan89
Hi all, I wonder what win rate % people are having with this system. With an inverse Risk:Reward it would have to be high. Anyone backtested this over the past several months ? Take care Dan
For starters most of us have only been trading it for less than a month that's about when it started.

Some far less than that!

Best person to ask would be Udine

Masterrmind..........
Master your Mind then Master your Trades
  • #8,876
  • Jul 9, 2014 7:02am Jul 9, 2014 7:02am
WHO CARES DAN ... what are you doing ??... thats all that matters .... win or lose its your decision ....
Whats That? you're trading What?
  • #8,877
  • Jul 9, 2014 7:05am Jul 9, 2014 7:05am
Quoting dan89
Hi all, I wonder what win rate % people are having with this system. With an inverse Risk:Reward it would have to be high. Anyone backtested this over the past several months ? Take care Dan
i would suggest forward testing live with small lot micro account. Back testing on Mt4 accounting for news etc. Is rubbish IMO.
  • #8,878
  • Jul 9, 2014 7:06am Jul 9, 2014 7:06am
Quoting dan89
Hi all, I wonder what win rate % people are having with this system. With an inverse Risk:Reward it would have to be high. Anyone backtested this over the past several months ? Take care Dan
With the utmost respect, Dan; this has been brought up many times before in this thread. In short if you believe it's impossible to make money with this R:R, best to not waste your time any further on this thread.


All the best
  • #8,879
  • Jul 9, 2014 7:08am Jul 9, 2014 7:08am
Mt spread sheet reads like this .

Monday, D1 : 2.95 %

Tuesday, D2 : 6.03 %

Wednesday, D3 : 3.35 %

Intraday only.
  • #8,880
  • Jul 9, 2014 7:08am Jul 9, 2014 7:08am
Quoting Qed
ok .. not gonna argue ... I have 7 or so pending spi200 deals with TP at any1 time ... I set and forget .. heres today in real a/c ... PS THANX UDINE for PENDING importance {image}

so you enter hard tp and sl with ur pending order?
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