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As simple as possible: 00 level trading

  • #9,081
  • Jul 9, 2014 9:39pm Jul 9, 2014 9:39pm
Quoting Masterrmind
{quote} I guess if you are getting the 2% per trading day and you're happy with that then maybe you don't need to change things. Thoughts to ponder??? Masterrmind...........
Very good point. I would certainly trade Tokyo for London though, in a heartbeat.

Where abouts do you live that you get to trade every session? I swear, you're always here taking pips... better question, do you happen to sleep??
Small disciplines repeated with consistency lead to great achievements.
  • #9,082
  • Jul 9, 2014 9:41pm Jul 9, 2014 9:41pm
Quoting lazyegg
Guys look at the purple line, is my Vertical line right? thx Gustcoelho {image}
It looks to me like you have a GMT +3 broker, like I do. I use 3:00 as my Tokyo open... midnight GMT.
Small disciplines repeated with consistency lead to great achievements.
  • #9,083
  • Jul 9, 2014 9:48pm Jul 9, 2014 9:48pm
Quoting jmflukeiii
{quote} It looks to me like you have a GMT +3 broker, like I do. I use 3:00 as my Tokyo open... midnight GMT.
Yes the Tokyo open on lazyeggs chart is obviously wrong but that's easy to fix in the parameter settings.

My main concern was the 1st M15 candle of the trading day which needs to be corrected asap!

Masterrmind.......
Master your Mind then Master your Trades
  • #9,084
  • Jul 9, 2014 9:48pm Jul 9, 2014 9:48pm
lazyegg, this is how looks my chart. think your sidney opening (purple) ok, but tokyo opening isnt correct
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 101 KB
  • #9,085
  • Jul 9, 2014 9:51pm Jul 9, 2014 9:51pm
Quoting gustcoelho
lazyegg, this is how looks my chart. think your sidney opening (purple) ok, but tokyo opening isnt correct {image}
At least Tokyo start time is correct on your chart.

Day start +3 hours = Tokyo start time.

Masterrmind
Master your Mind then Master your Trades
  • #9,086
  • Jul 9, 2014 9:54pm Jul 9, 2014 9:54pm
Quoting gregorsamut
{quote} Do you set the open times differently for different pairs, or do you use the Tokyo, NY , Frankfurt, London open (which one???) for all pairs? Thanks
No! Definitely not.

All pairs are traded off the same start of trading day time.............

Masterrmind............
Master your Mind then Master your Trades
  • #9,087
  • Jul 9, 2014 9:58pm Jul 9, 2014 9:58pm
Quoting Masterrmind
{quote} Could you zoom in on the chart by hitting the "+" zoom as much as it will go and then re-post your chart. It will make it a lot easier to analyse. Masterrmind.............
CHECK IT OUT
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.jpeg Size: 224 KB
Never say no to PIPS
  • #9,088
  • Jul 9, 2014 9:58pm Jul 9, 2014 9:58pm
Quoting lazyegg
{quote} hmm. you might be right, i never notice that
Lazyegg,

Could you open your EJ M15 chart....

Open the data window so it's visible to the left side of your chart and then "mouse over" the 1 st M15 candle of today to display the candle data in the data window.

Then post a screen shot of it so I can see your data.

Masterrmind...........
Master your Mind then Master your Trades
  • #9,089
  • Jul 9, 2014 10:00pm Jul 9, 2014 10:00pm
i'm having problems with taking the 00 level correctly when long because of the spread

(?) how do you manage the spread when placing a buy stop order in order to avoid something like that buy on this chart:
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 113 KB
  • #9,090
  • Jul 9, 2014 10:10pm Jul 9, 2014 10:10pm
My GJ got SL hit after 2 hours' floating.

Looks like a tough period to me.

As Udine points, the main issue is ME, i will push hard to shape ME.
Outcome is not important at all, but correct technique is what only matters
  • #9,091
  • Jul 9, 2014 10:12pm Jul 9, 2014 10:12pm
like this?
Attached Image (click to enlarge)
Click to Enlarge Name: Image2.jpeg Size: 571 KB
Never say no to PIPS
  • #9,092
  • Jul 9, 2014 10:13pm Jul 9, 2014 10:13pm
Quoting gustcoelho
i'm having problems with taking the 00 level correctly when long because of the spread (?) how do you manage the spread when placing a buy stop order in order to avoid something like that buy on this chart: {image}
For OANDA case, if you set TP, SL as 10 pips away, that would mean eventually you earn 10-spread and you lose 10-spread.

Don't know how is your platform.
Outcome is not important at all, but correct technique is what only matters
  • #9,093
  • Jul 9, 2014 10:16pm Jul 9, 2014 10:16pm
Quoting lazyegg
{quote} CHECK IT OUT {image}
To fix your Tokyo start line do the following:

1. Open the "Market Panel Display Controller"
2. Go to part 7
3. Set the value for the variable "Tokyo_Open_Time" = current value + 2 (since you need to add 2 hours to your current time)
4. Make sure the variable "Tokyo_Open_Shown" is set = True (which it should be anyway)
5. Close the Indicator
6. Check your chart and make sure Tokyo open time is Day start time + 3 hours.

Then you should be good to go!

Masterrmind.............
Master your Mind then Master your Trades
  • #9,094
  • Jul 9, 2014 10:21pm Jul 9, 2014 10:21pm
Quoting lazyegg
like this? {image}
Yes that looks fine to me.

You simply have a different start time than me hence different colored 1 st candle.

Now you can fix your Tokyo Open at your leisure .... instructions posted above in Post #9115...

Good luck!

Masterrmind........
Master your Mind then Master your Trades
  • #9,095
  • Jul 9, 2014 10:23pm Jul 9, 2014 10:23pm
Quoting Masterrmind
{quote} To fix your Tokyo start line do the following: 1. Open the "Market Panel Display Controller" 2. Go to part 7 3. Set the value for the variable "Tokyo_Open_Time" = current value + 2 (since you need to add 2 hours to your current time) 4. Make sure the variable "Tokyo_Open_Shown" is set = True (which it should be anyway) 5. Close the Indicator 6. Check your chart and make sure Tokyo open time is Day start time + 3 hours. Then you should be good to go! Masterrmind.............
after i change it to +2, used to be 0
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.jpeg Size: 260 KB
Never say no to PIPS
  • #9,096
  • Jul 9, 2014 10:25pm Jul 9, 2014 10:25pm
Quoting lazyegg
{quote} after i change it to +2, used to be 0 {image}
Perfect now that's all you needed to do.

Have a great day and start making profit

Masterrmind...........
Master your Mind then Master your Trades
  • #9,097
  • Jul 9, 2014 10:25pm Jul 9, 2014 10:25pm
Hello, everyone
I've been enthusiastically into this thread for last 2 weeks, and am doing demo since this monday.
Results are win 4, lose 1, so far.
I had rather avoided trade on London open time until I found this thread. But looks like it's the best time for this method on the contrary.
I need much more practice and learning. Thank you so much for sharing the great method and a lot of trading reports.
Regards,
  • #9,098
  • Jul 9, 2014 10:30pm Jul 9, 2014 10:30pm
Quoting Masterrmind
{quote} Perfect now that's all you needed to do. Have a great day and start making profit Masterrmind...........
thanks man, i know nothing about those Tech stuff. thx
Never say no to PIPS
  • #9,099
  • Jul 9, 2014 10:30pm Jul 9, 2014 10:30pm
Quoting gustcoelho
i'm having problems with taking the 00 level correctly when long because of the spread (?) how do you manage the spread when placing a buy stop order in order to avoid something like that buy on this chart: {image}
I am also with Oanda (US). I find out a placed Limit Order with Oandas Trading Platform works accurate and mostly will get exact price. But depends on PA, means can vary a bit.

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #9,100
  • Jul 9, 2014 10:35pm Jul 9, 2014 10:35pm
Mastermind. should Toyko open match the white vertical line that in my chart? because the white vertical line holding the same position as the same horizontal line, where is Toyko open right?
Never say no to PIPS
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