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As simple as possible: 00 level trading

  • #9,381
  • Jul 10, 2014 8:46am Jul 10, 2014 8:46am
Quoting Sagramor
A while back, people were talking about back-testing the system to get their "Aha" moment... In reading through the Choros thread (not redirecting people, just going through the chain I followed) I found a trade simulator that runs in the MT4 strategy tester. It has scripts to run for buy/sell and limit setting as well as closing orders. You can run it super fast and slow it down for trading times -- Can trade a whole year's worth of charts in a day. If anyone is interested, I can repost the pertinent files here. It helped with THREE things for...
Sagramor,

good to remind me..

people can download the simulator here: http://www.forexfactory.com/showthread.php?t=70742

files and instructions are all there..

people do have to remember:

1. that they have to look at the past news as well, otherwise wont give a realisitc result
2. if they want to test during the weekend, to close the platform when the spreads are still low, otherwise you have in the simulator the high spreads when your broker closes..

Udine
Sleep less, live fast, as it aint gonna last
  • #9,382
  • Jul 10, 2014 8:47am Jul 10, 2014 8:47am
Closing the shop for Thursday.

My a/c tracker reads like this :

Day 1 : 2.95 %
Day 2 : 6.03 %
Day 3 : 3.81 %
Day 4 ( today ) : 4.17 %




Total for the week ( Until Thursday ) : 16.96 %
Intraday only.
  • #9,383
  • Jul 10, 2014 8:50am Jul 10, 2014 8:50am
Quoting navk
Closing the shop for Thursday. My a/c tracker reads like this : Day 1 : 2.95 % Day 2 : 6.03 % Day 3 : 3.81 % Day 4 ( today ) : 4.17 % Total for the week ( Until Thursday ) : 16.96 %

SUPER !! your doing better than me

Udine
Sleep less, live fast, as it aint gonna last
  • #9,384
  • Jul 10, 2014 8:51am Jul 10, 2014 8:51am
no more trade for today, cause no room for pairs left.
so i am happy with 5 pips;-)
  • #9,385
  • Jul 10, 2014 8:52am Jul 10, 2014 8:52am
Quoting Udine
{quote} SUPER !! your doing better than me Udine
The student will always overtake Teacher.
Intraday only.
  • #9,386
  • Jul 10, 2014 8:53am Jul 10, 2014 8:53am
Quoting yag
no more trade for today, cause no room for pairs left. so i am happy with 5 pips;-)
1% / day is great

Udine
Sleep less, live fast, as it aint gonna last
  • #9,387
  • Jul 10, 2014 8:54am Jul 10, 2014 8:54am
Quoting navk
{quote} The student will always overtake Teacher.

fine by me, but please stay humble, as the market is always ready to kick you in the b@lls

Udine
Sleep less, live fast, as it aint gonna last
  • #9,388
  • Edited 9:15am Jul 10, 2014 8:55am | Edited 9:15am
Quoting navk
{quote} The student will always overtake Teacher.


I will post my results for this week when I have finished trading this Friday.

In the context of positive sharing.



Masterrmind............
Master your Mind then Master your Trades
  • #9,389
  • Jul 10, 2014 8:56am Jul 10, 2014 8:56am
Quoting Udine
{quote} fine by me, but please stay humble, as the market is always ready to kick you in the b@lls Udine
I love that comment Udine.....

It's what the student has yet to learn......

Masterrmind...........
Master your Mind then Master your Trades
  • #9,390
  • Jul 10, 2014 9:01am Jul 10, 2014 9:01am
Quoting Udine
{quote} Sagramor, good to remind me.. people can download the simulator here: http://www.forexfactory.com/showthread.php?t=70742 files and instructions are all there.. people do have to remember: 1. that they have to look at the past news as well, otherwise wont give a realisitc result 2. if they want to test during the weekend, to close the platform when the spreads are still low, otherwise you have in the simulator the high spreads when your broker closes.. Udine
Many thanks Udine !
  • #9,391
  • Jul 10, 2014 9:12am Jul 10, 2014 9:12am
Done for today with +5. Wasn't confident about more trades today.
There was a discussion here - to use common sense when trading with this system or not to use. Well, still not so sure about this. In my experience - when I use too much common sense I am not able to open any trade at all
  • #9,392
  • Jul 10, 2014 9:15am Jul 10, 2014 9:15am
Quoting Udine
{quote} Sagramor, good to remind me.. people can download the simulator here: http://www.forexfactory.com/showthread.php?t=70742 files and instructions are all there.. people do have to remember: 1. that they have to look at the past news as well, otherwise wont give a realisitc result 2. if they want to test during the weekend, to close the platform when the spreads are still low, otherwise you have in the simulator the high spreads when your broker closes.. Udine

^ What he said.

And I want to also emphasize that NO MATTER WHAT, the result will not necessarily be realistic for several reasons:

-Difficult to match up historic news (so many people wont... I haven't been and have actually had pretty good results)
-Spreads will be either based on current spread or you can choose a spread from a drop down menu
-No ADR signal (however, it's pretty good to get positive results without it)
-Many indicators will not work

BUT - if you can have positive results with ONLY the 00 levels, it shows the strength of the concept, building on BCC and PDF

Oh yea and you can trade all the time - weekends, flat markets, etc. which is every trader's dream
Remember that guy who gave up? Neither does anyone else.
  • #9,393
  • Jul 10, 2014 9:19am Jul 10, 2014 9:19am
Quoting Udine
{quote} fine by me, but please stay humble, as the market is always ready to kick you in the b@lls Udine
Intraday only.
  • #9,394
  • Jul 10, 2014 9:20am Jul 10, 2014 9:20am
Quoting Sagramor
{quote} ^ What he said. And I want to also emphasize that NO MATTER WHAT, the result will not necessarily be realistic for several reasons: -Difficult to match up historic news (so many people wont... I haven't been and have actually had pretty good results) -Spreads will be either based on current spread or you can choose a spread from a drop down menu -No ADR signal (however, it's pretty good to get positive results without it) -Many indicators will not work BUT - if you can have positive results with ONLY the 00 levels, it shows the strength...
Best way is if a trader has access to MT4 and enough equity to test it live.

That simple........

After just a week or two they would be getting a very good indication of what it's like to trade 00 method.

One thing that is often missed though is the experience factor (market sense if you will).

The greater you apply effective market sense to this system the more profitable you will be.

Good trading!

Masterrmind........
Master your Mind then Master your Trades
  • #9,395
  • Jul 10, 2014 9:22am Jul 10, 2014 9:22am
Quoting Masterrmind
{quote} I will post my results for this week when I have finished trading this Friday. In the context of positive sharing. Masterrmind............
I am sure you would have done better too.

Simple system, easy to follow. One can limit losses and acquire wealth with this system.
Intraday only.
  • #9,396
  • Jul 10, 2014 9:26am Jul 10, 2014 9:26am
Quoting Selga
Done for today with +5. Wasn't confident about more trades today. There was a discussion here - to use common sense when trading with this system or not to use. Well, still not so sure about this. In my experience - when I use too much common sense I am not able to open any trade at all

well done..

1 % a day is cool..

and standing on the sidelines is also a position.... and you wont lose money either

tomorrow is another day..

Udine
Sleep less, live fast, as it aint gonna last
  • #9,397
  • Jul 10, 2014 9:26am Jul 10, 2014 9:26am
Quoting Udine
{quote} fine by me, but please stay humble, as the market is always ready to kick you in the b@lls Udine

You advise 2 % per day, right Udine?

With 2 % one can surely achieve their goals in the longer run.
Intraday only.
  • #9,398
  • Jul 10, 2014 9:32am Jul 10, 2014 9:32am
Quoting navk
{quote} I am sure you would have done better too. Simple system, easy to follow. One can limit losses and acquire wealth with this system.
It's not so much doing better than someone else....it's about improving and becoming consistently profitable.

The same old story we all keep getting told.

Sharing our trading experiences so that others as well as ourselves can learn something new and apply it.

I can tell you one thing ....... it feels really good inside to share something you learned that can help another trader to improve.

Udine is someone who is actively sharing his trading ideas and I bet he feels incredibly proud to do it.

Good trading!

Masterrmind...........
Master your Mind then Master your Trades
  • #9,399
  • Jul 10, 2014 9:35am Jul 10, 2014 9:35am
With 2% a day and a RR 0.5 and a winrate around 80%, netto profit wil be around 1% a day.

All averages offcourse.
Persistence will get it. Consistency will keep it.
  • #9,400
  • Jul 10, 2014 9:38am Jul 10, 2014 9:38am
Hello People,
I am in GU SHORT @1.7120 beginning this hour (CET 16:00), what do you think? Too late for today?
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