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As simple as possible: 00 level trading

  • #9,921
  • Jul 11, 2014 11:39am Jul 11, 2014 11:39am
Quoting Masterrmind
Masterrmind Results for the week...
Beautiful work -- Thanks for posting!

"Whatever is worth doing at all, is worth doing well"

Have a great (and well earned) weekend!
Remember that guy who gave up? Neither does anyone else.
  • #9,922
  • Jul 11, 2014 11:56am Jul 11, 2014 11:56am
Quoting Swede
{quote} Shanghai...try to get yourself an Mt4 platform....FXCM has that available as I notice you are on their standard platform.. (but the best is to get with an ECN broker with very small spreads).........the reason for this is quite simple, the charts that have been formatted by Udine really have some special qualities...not just the 00 but also highlighted are the BRN like your just experienced....the warning was very clear...it was a dangerous place to try to short and you paid the price..... {image}

Ahh i see, I really should start charting on mt4 so I can use his set up. Thanks again for the advice man. Currently the spurs I trade at fxcm are avg 1.4 pip spreads. Is this still relatively high? Also what's a good ecn broker for us clients? I always struggle trying to find regulated ones due to Dodd-frank. Thankfully me and my lady are moving to Germany in May so I will be able to trade with better brokers.
Luck is what happens when preparation meets opportunity
  • #9,923
  • Jul 11, 2014 12:00pm Jul 11, 2014 12:00pm
came back from cleaning the basement room, eating out, seeing a movie (Edge Of Tomorrow).

GJ TPed +5.0pips

5pm JST (London 2nd hour) GJ long 173.700 TP +4.9 pips (+0.68%)
5pm JST (London 2nd hour) EJ long 138.000 TS +0.5pips (+0.09%)
9pm JST (NY 1st hour) GJ short 173.500 TP +5.0 pipps (+0.70%)
Today's total: +10.4 pips (+1.4%) Friday 2014/7/11
This week: +41.1 pips (+4.9%)
Last week: -25 pips (-4.0%)

This week's goal was to neutralize last week's loss.
Goal Achieved.

Thank you, Udine & good traders.
Attached Image (click to enlarge)
Click to Enlarge Name: 1407125392.png Size: 50 KB
My hope has been almost completely shattered, but not completely yet
  • #9,924
  • Jul 11, 2014 12:13pm Jul 11, 2014 12:13pm
HI Udine, I can't open the doc file which u uploaded in post 1.
It show file corrupted or some error.
Could you please upload a pdf version??
thank you
  • #9,925
  • Jul 11, 2014 12:13pm Jul 11, 2014 12:13pm
A question for all the us traders out there, how far into the ny session do y'all usually trade? All the way to close or do you stop when the Lndon session ends?
Luck is what happens when preparation meets opportunity
  • #9,926
  • Edited 12:43pm Jul 11, 2014 12:18pm | Edited 12:43pm
Quoting jmflukeiii
{quote} So if you are risking 2% on each, you could possibly lose 6% total. Are you prepared for that?
Thank you for your concern.

My maximum risk was less than 6%. This is why.

Here in Japan, the maximum leverage of a personal account is 25 times.

I was not a sniper (scalper) before I knew Udine. 25 times was enough back then, but now it is different.

I can't take 2% risk for 10 pips.

I use my original script to calculate lotsize. Its basic idea is to take as much risk as possible (within the limit of the leverage).

I placed the three pending orders as I mentioned here, but I can have only one position at a time.

If the positions close one after another, their risk can be the total of the three positions.

What happened today was that first GJ was hit, and then GU was hit and cancelled, and then
EJ was hit and cancelled, and last GJ was TPed.

I'm going to open a new account with higher leverage.

Right now I thank the fact I have a forex account and I was guided to this thread.

As the master says, I try to get the most of what I have now.

EDIT: risk 10pips and a mistake of tense
My hope has been almost completely shattered, but not completely yet
  • #9,927
  • Jul 11, 2014 12:26pm Jul 11, 2014 12:26pm
Quoting Masterrmind
Masterrmind Results for the week Monday to Friday 7th to 11th (GMT +10) trading Udine Method Trading all sessions (Asian through 1 st few hours of NY session) Monday 2 x trades 4 x bonus trades 1 x BE trade +31 pips [no loss] Tuesday 2 x trades 4 x bonus trades 1x TS (trailing stop) +Silver (8.5 pips) +39 pips [no loss] Wednesday 2 x trades 4 x bonus trades 2 x TS (trailing stop) 1 x BE trade +32 pips [no loss] Thursday 2 x trades 4 x bonus trades 1 x TS (trailing stop) 1 x BE trade +28.6 pips [1 loss on EU (-2 pips - closed manually)] Friday 2...
Excellent job done.

Good for you.
Intraday only.
  • #9,928
  • Jul 11, 2014 12:33pm Jul 11, 2014 12:33pm
Quoting ShanghaiMoon
A question for all the us traders out there, how far into the ny session do y'all usually trade? All the way to close or do you stop when the Lndon session ends?
Im on the West Coast of Canada so trading London is difficult because of the time diff....(Midnight my time) so I usually trade the US session for the first 3 hours, or to the London fix....then I check into the last hour or so...usually a lot of balancing in play and some momentum into the close....but that is just me
  • #9,929
  • Jul 11, 2014 12:34pm Jul 11, 2014 12:34pm
Quoting dummy555
HI Udine, I can't open the doc file which u uploaded in post 1. It show file corrupted or some error. Could you please upload a pdf version?? thank you
quoted wrong post...sorry
  • #9,930
  • Jul 11, 2014 12:35pm Jul 11, 2014 12:35pm
Quoting easygoing
came back from cleaning the basement room, eating out, seeing a movie (Edge Of Tomorrow). GJ TPed +5.0pips 5pm JST (London 2nd hour) GJ long 173.700 TP +4.9 pips (+0.68%) 5pm JST (London 2nd hour) EJ long 138.000 TS +0.5pips (+0.09%) 9pm JST (NY 1st hour) GJ short 173.500 TP +5.0 pipps (+0.70%) Today's total: +10.4 pips (+1.4%) Friday 2014/7/11 This week: +41.1 pips (+4.9%) Last week: -25 pips (-4.0%) This week's goal was to neutralize last week's loss. Goal Achieved. Thank you, Udine & good traders. {image}
nice going!!!
  • #9,931
  • Jul 11, 2014 12:49pm Jul 11, 2014 12:49pm
Quoting Swede
{quote} nice going!!!
Thx, Swede.

my next week goal is +4.0%.

Green pips to you.
My hope has been almost completely shattered, but not completely yet
  • #9,932
  • Jul 11, 2014 12:49pm Jul 11, 2014 12:49pm
Quoting ShanghaiMoon
A question for all the us traders out there, how far into the ny session do y'all usually trade? All the way to close or do you stop when the Lndon session ends?
Personally i don't trade ny at all, try to finish in first hours of london, also i see lately very active asian sessions.
  • #9,933
  • Jul 11, 2014 1:47pm Jul 11, 2014 1:47pm
what is happening in here
Attached Image (click to enlarge)
Click to Enlarge Name: EURCADH1.png Size: 78 KB
Intraday only.
  • #9,934
  • Jul 11, 2014 2:35pm Jul 11, 2014 2:35pm
Quoting Axiom
Hi Can anyone please help? I have set my Daily Open Line time zone to -3 (NY close, which is also 21h00 GMT). I am trying to synchronise the AnyCandle indicator to the same start time. The only time setting i see is the Time shift which has a default of 0. I think this is H00 GMT. I have tried to synchronise to 21h00 GMT by changing the Time Shift to -3 and 21, but this does not seem to work. Any ideas? Regards Axiom
Yes I looked at that too and it shifts by DAYS not hours. I was going to try to fix it but only if I find time and desire. You should get a demo account with GMT+3 just to see the indicators and trade off your own account.
  • #9,935
  • Jul 11, 2014 2:36pm Jul 11, 2014 2:36pm
Quoting flash4
Wukar_WB_TRAIL_v1_3_2e seems to put the TP at a bit more than 5 pips lets see if i miss many closes this way otherwise i will change parameters
Sorry, when I posted that I left the commission at 7 which is mine. Set this to 0 and it will close right at 5 pips.
  • #9,936
  • Jul 11, 2014 2:36pm Jul 11, 2014 2:36pm
There was a very negative CAD announcement this morning, which sent that flying up. Also, was bouncing off a resistance at about 1.4450.
  • #9,937
  • Jul 11, 2014 4:09pm Jul 11, 2014 4:09pm
hey fellas i just installed the undineinstantbuystoporder script and the sell one, how do i modify the lot size?
  • #9,938
  • Jul 11, 2014 7:01pm Jul 11, 2014 7:01pm
Quoting Masterrmind
Masterrmind Results for the week Monday to Friday 7th to 11th (GMT +10) trading Udine Method Trading all sessions (Asian through 1 st few hours of NY session) Monday 2 x trades 4 x bonus trades 1 x BE trade +31 pips [no loss] Tuesday 2 x trades 4 x bonus trades 1x TS (trailing stop) +Silver (8.5 pips) +39 pips [no loss] Wednesday 2 x trades 4 x bonus trades 2 x TS (trailing stop) 1 x BE trade +32 pips [no loss] Thursday 2 x trades 4 x bonus trades 1 x TS (trailing stop) 1 x BE trade +28.6 pips [1 loss on EU (-2 pips - closed manually)] Friday 2...
That's some really good work MM, particularly when you've been a big and positive help to others throughout.
I hope people can appreciate the PDF and BCC you bring to the table and use it in their own learning and trading.
  • #9,939
  • Jul 11, 2014 7:02pm Jul 11, 2014 7:02pm
I've started testing this system since last week with great interest.
Love this simple yet effective approach~ thank you, Udine.

Can anyone tell me what TS is? is this bringing your stop to BE at certain point and get stopped out? if so, when?
  • #9,940
  • Jul 11, 2014 7:08pm Jul 11, 2014 7:08pm
Quoting darkhorsefx
I've started testing this system since last week with great interest. Love this simple yet effective approach~ thank you, Udine. Can anyone tell me what TS is? is this bringing your stop to BE at certain point and get stopped out? if so, when?
Trailing Stop. If using the EA to manage trades it will kick in once trade is 4 pips in profit and then close trade once it reverses by 3.5 pips. In theory making at least .5 pips profit.
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