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As simple as possible: 00 level trading

  • #10,201
  • Jul 14, 2014 7:15am Jul 14, 2014 7:15am
Three SLs and one TP on GJ today. I think I will write down a list of reasons (maybe not rules) for myself why not enter the trade.
Attached Image (click to enlarge)
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  • #10,202
  • Jul 14, 2014 7:19am Jul 14, 2014 7:19am
Quoting Carpathian
Closed out at -5. It was wrong entry, and did not progress well and NY open was coming.
After NY open took EJ LONG @138.30 fast. Forgot ADR in a blink of eye in the NY open mini rush -- wrong entry. Closed out @BE. Lack of focus.
Loads of burpees this afternoon.
  • #10,203
  • Jul 14, 2014 7:21am Jul 14, 2014 7:21am
Quoting Selga
Three SLs and one TP on GJ today. I think I will write down a list of reasons (maybe not rules) for myself why not enter the trade. {image}

why didn't you wait for NY open before taking that last trade ???

NY comes new money into the market... stack the probability in your favour...

patience

Udine
Sleep less, live fast, as it aint gonna last
  • #10,204
  • Jul 14, 2014 7:24am Jul 14, 2014 7:24am
Quoting Carpathian
{quote} Rule #2?
Is that only if +/- 1pip from line?
or if within 1 pip of line= No Trade? Si
  • #10,205
  • Jul 14, 2014 7:27am Jul 14, 2014 7:27am
Quoting Udine
{quote} why didn't you wait for NY open before taking that last trade ??? NY comes new money into the market... stack the probability in your favour... patience Udine
its better start only in NY
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM15 robot 1.png Size: 57 KB
  • #10,206
  • Jul 14, 2014 7:30am Jul 14, 2014 7:30am
GU TSed +8.1pips

EDIT: attached the chart
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My hope has been almost completely shattered, but not completely yet
  • #10,207
  • Jul 14, 2014 7:31am Jul 14, 2014 7:31am
rmdn gu was no red


tot
gy -10+5
gu +5
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15 robot 1.png Size: 57 KB
  • #10,208
  • Jul 14, 2014 7:34am Jul 14, 2014 7:34am
GA sell @ 1.81900 -> TS
  • #10,209
  • Jul 14, 2014 7:35am Jul 14, 2014 7:35am
First two trades of the week. GU and GJ to target. Done for the day -
Attached Image (click to enlarge)
Click to Enlarge Name: 7.14.14.PNG Size: 87 KB
Small disciplines repeated with consistency lead to great achievements.
  • #10,210
  • Jul 14, 2014 7:36am Jul 14, 2014 7:36am
GJ TPed +4.0pips (Maybe I should have TSed)
Attached Image (click to enlarge)
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My hope has been almost completely shattered, but not completely yet
  • #10,211
  • Jul 14, 2014 7:37am Jul 14, 2014 7:37am
Quoting Udine
{quote} why didn't you wait for NY open before taking that last trade ??? NY comes new money into the market... stack the probability in your favour... patience Udine
Yeah, should have waited obviously. I am sometimes fooled by strong candles like the one of this morning; it looks like there should be continuation, but not always there is. Btw, forgot to check GU before taking the last trade, daily candle was red already. Wouldn't have opened the trade because of that.
  • #10,212
  • Jul 14, 2014 7:39am Jul 14, 2014 7:39am
no entries for me, I did not like anything i saw on my charts..

Udine
Sleep less, live fast, as it aint gonna last
  • #10,213
  • Jul 14, 2014 7:39am Jul 14, 2014 7:39am
Done for today!

Attached Image (click to enlarge)
Click to Enlarge Name: Ashampoo_Snap_2014.07.14_20h36m24s_003_.png Size: 70 KB


Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #10,214
  • Jul 14, 2014 7:40am Jul 14, 2014 7:40am
Quoting Selga
{quote} Yeah, should have waited obviously. I am sometimes fooled by strong candles like the one of this morning; it looks like there should be continuation, but not always there is. Btw, forgot to check GU before taking the last trade, daily candle was red already. Wouldn't have opened the trade because of that.
at least you learned something

Udine
Sleep less, live fast, as it aint gonna last
  • #10,215
  • Jul 14, 2014 7:40am Jul 14, 2014 7:40am
Quoting JibalaPasan
Done for today! {image} Jibala

was not the first 00 level

Udine
Sleep less, live fast, as it aint gonna last
  • #10,216
  • Jul 14, 2014 7:44am Jul 14, 2014 7:44am
Quoting Udine
Why you look at the UJ??? It has an ADR of only 33..... Udine
UJ LONG TS +1 pip...
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 29 KB

Actually entry was violation of rule 18. Trade higher ADR pairs only.
  • #10,217
  • Jul 14, 2014 7:44am Jul 14, 2014 7:44am
Quoting Udine
{quote} was not the first 00 level Udine
Udine, you are absolutely right, but to tell you the truth, I dont like to trade BRN! On the other hand, I'm still using a special tool of my mentor, which shows me exactly when to enter the trade. There was no signal at 000.

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #10,218
  • Jul 14, 2014 7:46am Jul 14, 2014 7:46am
Quoting Udine
no entries for me, I did not like anything i saw on my charts.. Udine
The G's seemed to both have developed a nice turn from their highs and looked to be travelling down. I was a bit unnerved by the EJ being opposite the GJ, but EJ had reached its ADR limit so I felt the risk was justified to take the short in GJ alongside GU.

Apparently there seems to be something affecting the pound, not the dollar, hence the divergence in EU and GU.

That was my thought process at least..
Small disciplines repeated with consistency lead to great achievements.
  • #10,219
  • Jul 14, 2014 7:50am Jul 14, 2014 7:50am
Quoting JibalaPasan
{quote} Udine, you are absolutely right, but to tell you the truth, I dont like to trade BRN! On the other hand, I'm still using a special tool of my mentor, which shows me exactly when to enter the trade. There was no signal at 000. Jibala

as long as your profitable

Udine
Sleep less, live fast, as it aint gonna last
  • #10,220
  • Jul 14, 2014 7:52am Jul 14, 2014 7:52am
Now I'm almost neutral. (Today's total: -0.1pips)

I'm trying to feel whether I'd better quit trading today or put new orders in the 2nd hour of NYO
My hope has been almost completely shattered, but not completely yet
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