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As simple as possible: 00 level trading

  • #9,221
  • Jul 10, 2014 2:43am Jul 10, 2014 2:43am
AAAARGH, EJ closed by TS, due to a little 0.5 spread.. TP reached but not triggered.

+5.9 pips by now, +1.91%.

Weekly now +10.5%, I think I'll close here for today.
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"Every battle is won before it's fought."
  • #9,222
  • Jul 10, 2014 2:45am Jul 10, 2014 2:45am
EJ @ TS
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  • #9,223
  • Jul 10, 2014 2:49am Jul 10, 2014 2:49am
Quoting Lrt.Ita
AAAARGH, EJ closed by TS, due to a little 0.5 spread.. TP reached but not triggered. +5.9 pips by now, +1.91%. Weekly now +10.5%, I think I'll close here for today. {image}

Dont complain... lol

your bank might give you that in 5 - 10 years, what you got in 1 week...

Udine
Sleep less, live fast, as it aint gonna last
  • #9,224
  • Jul 10, 2014 2:52am Jul 10, 2014 2:52am
UJ out @ BE grrr!

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Masterrmind..........
Master your Mind then Master your Trades
  • #9,225
  • Jul 10, 2014 3:04am Jul 10, 2014 3:04am
Quoting Masterrmind
UJ out @ BE grrr! {image} Masterrmind..........

Why look at the UJ?

ADR last 20 days @ 38..

Udine
Sleep less, live fast, as it aint gonna last
  • #9,226
  • Jul 10, 2014 3:05am Jul 10, 2014 3:05am
Quoting Masterrmind
UJ out @ BE grrr! {image} Masterrmind..........
Isnt that a risky pair??
Low ADR and ATR
Just my thoughts.....
  • #9,227
  • Jul 10, 2014 3:07am Jul 10, 2014 3:07am
Udine, what we should do when candle open price exactly on .00 level? Like current gbpjpy candle (open price 173.900). Should we set pending order on 173.800 or just wait?
  • #9,228
  • Jul 10, 2014 3:10am Jul 10, 2014 3:10am
Quoting easygoing
EA -10 in less than 2 min I quit Asia today. wait for London Edit: My loss was -12.0 pips because of the slippage.

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Hello Easygoing,
If you allow me to share my thought on this...

Trade was entered in the Tokyo +2 hours period SHORT @1.44700. Looking carefully in the same hour price opened @1.44805, slightly but still above the 44800 level. That means
1. Though very close but the 800 level would have been the first valid one that hour.
2. By the time price got to the 700 entry point it already had to make 10 pips worth of travel in the very same hour, not to talk about that it was the 3rd hour it had been coming down in a row from 1.45000 which in total are 30 pips by the time it got to the entry point. All these factors decrease the probability that it still has the momentum to make another 5 pips needed for TP thus making it a riskier one.

I took this example as me myself I am looking for setups within this system where the H1 open or H1 HI/LO are not too far (eg. less than 8 pips) away from the 00 level to be used as entry. Just and idea..

Cheers,
Áron
  • #9,229
  • Jul 10, 2014 3:12am Jul 10, 2014 3:12am
Quoting Udine
{quote} Why look at the UJ? ADR last 20 days @ 38.. Udine
Yes it was too low that's right.

Masterrmind...........
Master your Mind then Master your Trades
  • #9,230
  • Jul 10, 2014 3:12am Jul 10, 2014 3:12am
It has to happen some day.
15 profit trades in row. Now first loss trade.
EA L 4550
I took this trade on demo web platform. If traded on MT4 trade would be closed on TS.
  • #9,231
  • Jul 10, 2014 3:17am Jul 10, 2014 3:17am
GJ to TP...BE for the day
  • #9,232
  • Jul 10, 2014 3:17am Jul 10, 2014 3:17am
Quoting iwan73
It has to happen some day. 15 profit trades in row. Now first loss trade. EA L 4550 I took this trade on demo web platform. If traded on MT4 trade would be closed on TS.

part of doing forex business, but as I am watching (NOT TRADING) the EA and GA... i must say I dont like their movement..

Udine
Sleep less, live fast, as it aint gonna last
  • #9,233
  • Jul 10, 2014 3:20am Jul 10, 2014 3:20am
GJ +5 TP

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Ok now we're on song!

Masterrmind...........
Master your Mind then Master your Trades
  • #9,234
  • Jul 10, 2014 3:20am Jul 10, 2014 3:20am
Quoting Lrt.Ita
AAAARGH, EJ closed by TS, due to a little 0.5 spread.. TP reached but not triggered. +5.9 pips by now, +1.91%. Weekly now +10.5%, I think I'll close here for today. {image}

lrt.. don't sweat this one bcz it was a tough one.. I don't use the TS but still to pull profit out of that one was hard off the first strike.. it pulled back so fast for not much of a chance to capture the +5..
Passion, Persist, Patience, Protect
  • #9,235
  • Jul 10, 2014 3:21am Jul 10, 2014 3:21am
I missed 400 short on EJ
Not keen on 800 short on GJ due to resistance level
Not trading EU today
GU might be good from 200 but time is getting on. Dont like to trade after 10am as the morning rush is over.
  • #9,236
  • Jul 10, 2014 3:22am Jul 10, 2014 3:22am
Quoting Udine
{quote} part of doing forex business, but as I am watching (NOT TRADING) the EA and GA... i must say I dont like their movement.. Udine

I agree Udine.. they do more damage than good in the long run...
but some days they are just awesome.. key word some days..lol
Passion, Persist, Patience, Protect
  • #9,237
  • Jul 10, 2014 3:22am Jul 10, 2014 3:22am
hi all,
pending on GJ @173.8 (my OPEN 174.360) and EJ @138.3 (my OPEN 138.640)
are these ok?
Too much far from their OPEN level?
  • #9,238
  • Jul 10, 2014 3:22am Jul 10, 2014 3:22am
Quoting Carpathian
{quote} Hello Easygoing, If you allow me to share my thought on this... Trade was entered in the Tokyo +2 hours period SHORT @1.44700. Looking carefully in the same hour price opened @1.44805, slightly but still above the 44800 level. That means 1. Though very close but the 800 level would have been the first valid one that hour. 2. By the time price got to the 700 entry point it already had to make 10 pips worth of travel in the very same hour, not to talk about that it was the 3rd hour it had been coming down in a row from 1.45000 which in total...
Hi, Carpathian.

Thank you for sharing your analysis.

It was of great help.

In retrospect, I thought this entry of mine was wrong. One of the reasons is that I entered within 30 min from the last TP.

I didn't short at 1.44800, but If I had, I would have won in the last 15min candle

I have a lot to learn, but maybe the simplest solution would be to avoid trading in Asian session,
especially a new student of this method like me.


EDIT: BTW the Tokyo open vertical line in my chart was placed in the wrong place;
I didn't take some trouble to fix it. In order not to be misunderstood, I will fix it soon.
My hope has been almost completely shattered, but not completely yet
  • #9,239
  • Jul 10, 2014 3:25am Jul 10, 2014 3:25am
Thank you Udine for this wonderful system!

GJ TP +6
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Lets WUKAR FIFO!! - Udine
  • #9,240
  • Jul 10, 2014 3:25am Jul 10, 2014 3:25am
GU TS too.
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