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As simple as possible: 00 level trading

  • #9,461
  • Jul 10, 2014 8:19pm Jul 10, 2014 8:19pm
Quoting Qed
thanx
A pleasure!

Masterrmind.......
Master your Mind then Master your Trades
  • #9,462
  • Jul 10, 2014 8:27pm Jul 10, 2014 8:27pm
Quoting Price
....short 137.80 EJ and 173.50 GJ. They both look like good likely trades to me. [watching...]
Quoting jmflukeiii
EJ & GJ to target - done!
Dig it !!
  • #9,463
  • Jul 10, 2014 8:33pm Jul 10, 2014 8:33pm
Quoting MrTD
{quote} Sorry, I don't use it myself.. prefer to do as Udine does, since he has tested and is using this method to make money. I don't understand why so many have to try to add variations.

I deleted that post, as realized I was using wrong ver of Eric's mod in the MT4 demo I had open at the time.
As for Udine's methods and any variations of that, I'm not even concerned with trading or testing that right now. I'm just trying to bring myself up to speed with MT4, different brokers and different order systems etc. Once I feel comfortable with the platform and any quirks etc, then I'll knuckle down to Udine's methods without variation
  • #9,464
  • Jul 10, 2014 9:04pm Jul 10, 2014 9:04pm
Trade # 2

EJ +5 TP

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 44 KB


Now time to look for bonus trades!

Masterrmind............
Master your Mind then Master your Trades
  • #9,465
  • Jul 10, 2014 9:12pm Jul 10, 2014 9:12pm
Quoting Masterrmind
Trade # 2 EJ +5 TP {image} Now time to look for bonus trades! Masterrmind............
Hey MM, doing well again I see! I'm still observing asia, it definitely looks tougher at this time of the day than it is at franky/london openings...
With this EJ trade was that strictly valid to udines rules? looks like it was the second break of the 00 level within the same hour but I may be mistaken?

Cheers
  • #9,466
  • Jul 10, 2014 9:20pm Jul 10, 2014 9:20pm
Quoting Callum
{quote} Hey MM, doing well again I see! I'm still observing asia, it definitely looks tougher at this time of the day than it is at franky/london openings... With this EJ trade was that strictly valid to udines rules? looks like it was the second break of the 00 level within the same hour but I may be mistaken? Cheers
Yes I missed the first break and went in after that!

I wanted a short off that 800 level at all costs but should have only been the 1 st break.

Masterrmind...........
Master your Mind then Master your Trades
  • #9,467
  • Jul 10, 2014 9:25pm Jul 10, 2014 9:25pm
Trading the Asian session can be a challenge at times that's true but this week was very good apart from maybe yesterday.

The only trouble of course is having to be at the charts to see what is happening.

If you are absent then 9/10 times you miss a good run of trades......Murphy's Law strikes once again!

Masterrmind...........
Master your Mind then Master your Trades
  • #9,468
  • Jul 10, 2014 9:27pm Jul 10, 2014 9:27pm
for those who want to verify the opening hour of each session, in the "home" site of FF has the SESSIONS tab

first, set your local time with forexfactory (check at the top of page, near your login, and at sessions tab you have the line referring local hour)

i think it's very easy, and you're sure about everything
  • #9,469
  • Jul 10, 2014 9:31pm Jul 10, 2014 9:31pm
Thanks MM, I'll keep observing asia for now
  • #9,470
  • Jul 10, 2014 9:34pm Jul 10, 2014 9:34pm
Quoting Callum
Thanks MM, I'll keep observing asia for now
There are a few little "secrets" to trading it though since in general the range is usually fairly low after NY has finished.

Chart time helps too because you start to see regularities but I'm sure you are already onto that!

Masterrmind.............
Master your Mind then Master your Trades
  • #9,471
  • Jul 10, 2014 9:43pm Jul 10, 2014 9:43pm
I trade the Tokyo open hour, and that's it. But that's just me - it usually dies down after that and isn't worth the trouble.

EDIT: I also decided to de-clutter my screen - down to just EJ and GJ, EU and GU.
Small disciplines repeated with consistency lead to great achievements.
  • #9,472
  • Jul 10, 2014 9:46pm Jul 10, 2014 9:46pm
Long orders in for AUDUSD 900 long level. Everything looks to be lining up. Hasn't triggered yet.
Know your edge and trade within it
  • #9,473
  • Jul 10, 2014 9:49pm Jul 10, 2014 9:49pm
2%+
Whats That? you're trading What?
  • #9,474
  • Jul 10, 2014 9:50pm Jul 10, 2014 9:50pm
Quoting fxtrader29ca
Long orders in for AUDUSD 900 long level. Everything looks to be lining up. Hasn't triggered yet.
According to the rules of this method, no longs from 900 levels, no shorts from 100 levels...
  • #9,475
  • Jul 10, 2014 9:50pm Jul 10, 2014 9:50pm
Qed that is awesome , congrats! Happy trading to you!
Know your edge and trade within it
  • #9,476
  • Jul 10, 2014 9:52pm Jul 10, 2014 9:52pm
Quoting Callum
{quote} According to the rules of this method, no longs from 900 levels, no shorts from 100 levels...
You are right, I keep forgetting! Orders have been cancelled ! Thanks !
Know your edge and trade within it
  • #9,477
  • Jul 10, 2014 9:53pm Jul 10, 2014 9:53pm
I would post chart but its not exactly to udine method.. but the pending and TP is ,,, (ps lost yest so not always great )
Whats That? you're trading What?
  • #9,478
  • Jul 10, 2014 9:55pm Jul 10, 2014 9:55pm
Quoting Udine
{quote} 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
Actually that doesn't work, I tried it, BUT with the latest MT4 they added the option to choose your spread for backtesting! Great stuff.
  • #9,479
  • Jul 10, 2014 9:58pm Jul 10, 2014 9:58pm
Quoting gustcoelho
{quote} this problem wouldn't happen if mt4 had a buy stop "when" bid reaches XX.XXX00 appreciate some help with this 'process' problem tkz in advance
Yes I have been thinking about this and plan to release another EA with that as an option, that is, if it detects a Buy pending order, it will save the info and delete the order and place a market order when Bid reaches that price. As soon as I can get it working, that is.
  • #9,480
  • Jul 10, 2014 9:59pm Jul 10, 2014 9:59pm
Quoting Beachie41
{quote} MrTD, many thanks for these scripts. But 1 question, do these work in conjunction with Eric's Wukar_WM_Trail stop EA? i.e. Magic number must match as mentioned here http://www.forexfactory.com/showthre...94#post7590494 I've run a few limited tests on AudJPY (sell) and it doesn't appear to use the trail stop numbers/BE of Eric's modded script, just the hard TP/SL of your EA. Or have I got this all a*se about Thx
Yes it does, like MrTD said, just change the MN in my EA to 789 and it will manage only those trades. If you only trade this system, don't worry about MNs.
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