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As simple as possible: 00 level trading

  • #9,941
  • Jul 11, 2014 7:14pm Jul 11, 2014 7:14pm
Quoting buntmn
{quote} 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.
Thank you buntmn, never used trailing stop before. I guess this is a good opportunity to test it out as well.
  • #9,942
  • Jul 11, 2014 10:49pm Jul 11, 2014 10:49pm
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] Wishing all traders a great weekend! All the best, Masterrmind............
Well done, mate; you're killing it.
  • #9,943
  • Jul 11, 2014 10:49pm Jul 11, 2014 10:49pm
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...

IMPRESSIVE RESULTS !!!!

glad to see that its working for you as well..

but dont overtrade

Udine
Sleep less, live fast, as it aint gonna last
  • #9,944
  • Jul 11, 2014 11:31pm Jul 11, 2014 11:31pm
Nice to see a lot of people making pips on Friday, I had limited hours to trade due to commitments and seeing what it did in the first 2 hours (frankfurt and london opens) I decided the best position for me was no position and kept the 7% I had already bagged for the week nice and safe!
Just going through my log and reviewing the week now, definitely much improvement to be made but off to a good start on the live account
  • #9,945
  • Jul 11, 2014 11:35pm Jul 11, 2014 11:35pm
Quoting Callum
Nice to see a lot of people making pips on Friday, I had limited hours to trade due to commitments and seeing what it did in the first 2 hours (frankfurt and london opens) I decided the best position for me was no position and kept the 7% I had already bagged for the week nice and safe! Just going through my log and reviewing the week now, definitely much improvement to be made but off to a good start on the live account
Good that you made 7! Mine was BE for the week but I can see where I need to improve. For me LO is at midnight and if I don't plan the day accordingly, I can be too tired to trade much and I only traded some days 1st hour at LO and missed nice trades in the 2nd hour.
  • #9,946
  • Jul 11, 2014 11:36pm Jul 11, 2014 11:36pm
Well Done Callum ... its always daunting starting on real a/c cheers Q something I found really usefull during the week was the ability to drag ur tardes onto the chart, gives you real sense of where you entered and exited
Whats That? you're trading What?
  • #9,947
  • Jul 11, 2014 11:36pm Jul 11, 2014 11:36pm
Quoting Udine
{quote} ok here my 2 cents.. I dont agree... why? 1. demo trading will help you to train the PDF and BCC part of trading 2. on demo its better to do that than live, because with live trading you add the stress of your money being on the line 3. after the demo, when you have the PDF & BCC, you go to a live account 4. here you trade the smallest lotsize to keep the PDF & BCC but with the added stress of trading real money 5. when you are consistent with the smallest lotsize then you start to trade with regular lotsizes its better to take babysteps...

I totally agree with baby steps part.. no one should jump into it right away even with little money..
however I don't see how demo trading can help one with the PDF and BCC when nothing is on the line. There will be always doubt that you have not done it yet under some kind of pressure.
$300-500 is like a tuition money for a semester.. since you paid you will due diligence above and beyond... but if they let you in a semester free of charge you just might slack out a bit (humans nature).. but here is whats scary.. slacking out without fully knowing that your slacking out!!, and that's the dangerous part of demo trading, creates this illusion.. that your good, you got it.. your ready.. oh yaa.. then comes live and ups.. it's like starting allover. I believe the PDF and BCC part should be practice at lil money part with all due respect.
Anyhow we look at it, the ball game begins when whistle is blown.. practice is all good fine.. but pre season matches is what creates match tough.

just my two cents as well..

I hope dentist went well for you son..
enjoy the weekend bud.
Passion, Persist, Patience, Protect
  • #9,948
  • Edited 1:47am Jul 12, 2014 12:38am | Edited 1:47am
Quoting Udine
{quote} IMPRESSIVE RESULTS !!!! glad to see that its working for you as well.. but dont overtrade Udine
The results are actually too good to be honest and not what I expected!

1 week is obviously not enough time to get an "average" expected return so I'll be far more interested in a longer time frame (starting @ 1 month and up to several months)

Only problem is that I don't plan on trading through all the trading day sessions like I have been.

The plan is that for the next week only I will trade it at the same intensity as what I did for last week (to compare 2 weeks) but after that I will taper it off significantly.

Eventually only wish to trade it over say a 3 to 6 hour time frame as I think this might prove to be the optimal between profit and time spent trading.

The intensity of trading was done for a reason and that was to explore in detail exactly how the system performed over all sessions.

Over trading is an issue but not from my point of view as there is no way I would wish to continue trading this system 15 hours a day (that would burn you out) so as I said it's purely to learn as much about it in as short a time as possible and then optimize the trading time.

Hope that all makes sense.

Masterrmind...........
Master your Mind then Master your Trades
  • #9,949
  • Edited 2:43am Jul 12, 2014 1:30am | Edited 2:43am
Quoting panamamike
Fantastic results!! Have you dine a breakdown by session? If you do let us know. Have abreast and well deserved weekend!!! {quote}
I analyze every component of my trading (via Excel and other software etc etc) and always have done.

That includes winners, losers and everything in between.

I'd suggest all traders do this so they can learn from their trades and make any necessary adjustments.

ps. I may post the break down of sessions but not at this early stage as it would not be all that indicative (at the minimum a months data and preferably a lot more than that!)


Masterrmind..........
Master your Mind then Master your Trades
  • #9,950
  • Jul 12, 2014 5:16am Jul 12, 2014 5:16am
Quoting FXEmpire
{quote} I totally agree with baby steps part.. no one should jump into it right away even with little money.. however I don't see how demo trading can help one with the PDF and BCC when nothing is on the line. There will be always doubt that you have not done it yet under some kind of pressure. $300-500 is like a tuition money for a semester.. since you paid you will due diligence above and beyond... but if they let you in a semester free of charge you just might slack out a bit (humans nature).. but here is whats scary.. slacking out without fully...
Why don't you say

"I believe the PDF and BCC part should be practice at huge money,( e.g. millions dollors ) part with all due respect."


In <<Trading in the zone>>, Mark Douglas give good suggestion on how to practice PDF&BCC, paper trading would be a good method.

Thanks Udine emphasizes it again.
Outcome is not important at all, but correct technique is what only matters
  • #9,951
  • Jul 12, 2014 6:51am Jul 12, 2014 6:51am
Quoting ericjschroed
{quote} 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.
Thanks eric

Will do that.

Regards
  • #9,952
  • Jul 12, 2014 7:06am Jul 12, 2014 7:06am
Can anyone program a time factor into the ADR indicator? I would love to start it with the NY close (Sydney Open). Right now it sets to your broker open, which is midnight EST for me. This does not correlate with anything in the forex world. I have my DO at the NY close and would love the ADR to match. This would be important because it measure the RmUp and RmDn accurately. I am not trading until NY open when some of your charts show one of these red already and mine are still green. Can anyone do this? Thanks.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #9,953
  • Jul 12, 2014 7:12am Jul 12, 2014 7:12am
Have been analyzing the last week trades. Ive come to the conclusion :

1. Most of the Losses made was BGRN. Wont trade them anymore.
2. Allmost all losses was on eu, ea, ga.. Gj, ej only Winners.

Learn from your losses to not make them again.
Have a nice weekend all!
  • #9,954
  • Jul 12, 2014 7:22am Jul 12, 2014 7:22am
Quoting Dumper
Have been analyzing the last week trades. Ive come to the conclusion : 1. Most of the Losses made was BGRN. Wont trade them anymore. 2. Allmost all losses was on eu, ea, ga.. Gj, ej only Winners. Learn from your losses to not make them again. Have a nice weekend all!

If you would use Udine's rule, it might not be a good assumption to filter BRN, since only 90/10 would be concerned.

Also, if you would use Udine's rule, better keep on EJ/GJ/EU/GU, no GA/EA.

Since the original system, Udine have tested and verified it should work.

As if you want to revise a new system from your own style, that is another story.

In my case, i am just trying to learn as much as possible from Udine, and to adapt my own system. I am still working on it.
Outcome is not important at all, but correct technique is what only matters
  • #9,955
  • Jul 12, 2014 9:07am Jul 12, 2014 9:07am
Sry to ask but on the first pages you guys also had the 000 levels and between them in gray the 5 pip levels . How do i ad the 5 pips levels ? allwas when i put a second sweetspot on chart with sublevels 50 it takes out the other sweetspot indi

Thx in advance
  • #9,956
  • Jul 12, 2014 9:44am Jul 12, 2014 9:44am
Quoting kPack
Sry to ask but on the first pages you guys also had the 000 levels and between them in gray the 5 pip levels . How do i ad the 5 pips levels ? allwas when i put a second sweetspot on chart with sublevels 50 it takes out the other sweetspot indi Thx in advance
Hi,

The 50 lines come from "Gridv2". Both the MQL4 source file and the ex4 file are available on here. I found that there was a problem with the source file so simply copied the ex4 into the indicators file.
Attached File(s)
File Type: ex4 Grid_v2.ex4   6 KB | 295 downloads
  • #9,957
  • Jul 12, 2014 11:31am Jul 12, 2014 11:31am
Quoting szpowerx
{quote} If you would use Udine's rule, it might not be a good assumption to filter BRN, since only 90/10 would be concerned. Also, if you would use Udine's rule, better keep on EJ/GJ/EU/GU, no GA/EA. Since the original system, Udine have tested and verified it should work. As if you want to revise a new system from your own style, that is another story. In my case, i am just trying to learn as much as possible from Udine, and to adapt my own system. I am still working on it.
Is there any logic why the GJ EJ work, and others don't.
GAUD, GNZ have bigger ADR.
  • #9,958
  • Edited 12:50pm Jul 12, 2014 12:37pm | Edited 12:50pm
Good afternoon Udine, I am Brazilian, I am reading every post in this topic. First I want to thank you for being presenting an exceptional system. Are you a person plenty of cool, to have the patience to explain several times to accompany all this grupo.Eu the market since 2007 and Patience ... and really focus and not have greed can reach success. I would just ask a few questions. 1) What is Emergency stop loss and what is Commission 7.0 that comes at the end of the EA? 2) The EA Wukar need only set the Stop Loss Since being outstanding entries will he accept? 3) Another thing I would like your opinion, I'm thinking of putting a stop of 12 pips and TP 07 pips and a trailing stop of 05 ... what do you think? ... Thanks for everything, stay with God ... The world needs people like you Udine. Congratulations!
  • #9,959
  • Jul 12, 2014 1:20pm Jul 12, 2014 1:20pm
Quoting Masterrmind
Bonus Trade #2 GJ +>5 TP {image} #3 GJ +>5 TP (trade2) {image} Note: 2 blue arrows represent the 2 long entries. Masterrmind...........
Hello, can you PsycholevelDashboard file post here? You have modified it very well.
  • #9,960
  • Jul 12, 2014 1:47pm Jul 12, 2014 1:47pm
Quoting capstone
Can anyone program a time factor into the ADR indicator? I would love to start it with the NY close (Sydney Open). Right now it sets to your broker open, which is midnight EST for me. This does not correlate with anything in the forex world. I have my DO at the NY close and would love the ADR to match. This would be important because it measure the RmUp and RmDn accurately. I am not trading until NY open when some of your charts show one of these red already and mine are still green. Can anyone do this? Thanks.
Here, try this. Set the StartingHour to what yours is; mine is 21. If you leave it to 0 it is just the same as the original.

Attached File(s)
File Type: mq4 xADR_0.2renko_shift.mq4   7 KB | 432 downloads
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