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As simple as possible: 00 level trading

  • #10,241
  • Jul 14, 2014 9:06am Jul 14, 2014 9:06am
Quoting easygoing
{quote} Impressive!!
Yes that's enough for me today.

I was trying to get a few trades in the NY open but nothing took my fancy so I simply didn't take any trades.

There was no need anyway as the day had been kind to me.

Masterrmind........
Master your Mind then Master your Trades
  • #10,242
  • Jul 14, 2014 9:10am Jul 14, 2014 9:10am
Quoting Masterrmind
{quote} Yes that's enough for me today. I was trying to get a few trades in the NY open but nothing took my fancy so I simply didn't take any trades. There was no need anyway as the day had been kind to me. Masterrmind........
You take so many pips and that gives me a lot of hope and confidence in Udine's way (and its variation).

You and Udine are my heros!

hope every day will be kind to you!
My hope has been almost completely shattered, but not completely yet
  • #10,243
  • Jul 14, 2014 9:11am Jul 14, 2014 9:11am
Quoting Masterrmind
{quote} Yes shorting it was the right thing to do. I agree. Masterrmind...........
The ask was also already above the .600.

My broker is so screwy... I negotiated spreads and commissions so my broker put me on a different MT4 server. So I get a tighter spread, and they charge me a commission, but my charts still show the crappy spreads. So the bid on my chart is, for example, 1.2 pips lower than my actual bid on GJ right now. And the ask on my chart is 1.1 pips higher than my actual ask.

This isn't that big of a deal (other than being absolutely ridiculous), except if price is close to a line, and my actual ask is below it, but the "fake", charting ask is above it, I can't right click and place a buy stop at the level. I have to click well above it, then drag it down to the level....
Small disciplines repeated with consistency lead to great achievements.
  • #10,244
  • Jul 14, 2014 9:13am Jul 14, 2014 9:13am
Udine, will you potentially trade *jpy pairs on double red news on USD, or your filters only NFP and Interest Rates (for *jpy)?

P.S. This question is only about USD-news on *jpy.
  • #10,245
  • Jul 14, 2014 9:15am Jul 14, 2014 9:15am
Dear Undine,

Was trying to read carefully through all the posts, might be I missed some info, sorry for that, however having in mind that you are the person which does not come along every day , I mean unselfish person, hope you will take a minute and reply to this question, and question is regarding rules:
SUMMARY TRADING RULES:


2. Entry ONLY the FIRST 00 level ( does it mean that once hour starts, I should not take any 00 level except 1st which happens in that hour, even if we have crossing of 2 or more 00 levels in that hour?)

11. Check ADR (what period of ADR I should take into account, is it 20 days, saw it mentioned I believe in some post, or any other? Or which one you prefer?)

I am not using MT4, and use Oanda platform, so anything done is done manually, so at the moment I do not know if ADR is red already or not.

BR,
Nerka
  • #10,246
  • Jul 14, 2014 9:16am Jul 14, 2014 9:16am
Quoting Froyo12345
There are Rules, but not when, when not to take trade.
Udine will have his own answers to this question for sure.

However, reading through this thread will give you a lot of little hints along the way which you will be able to apply in your own decision making process.

Experience is a factor but once you get enough chart time up it will go a long way to helping you better understand when to and when not to enter a trade.

Applying PDF and BCC to your trading will greatly assist you too!

Good trading.

Masterrmind............
Master your Mind then Master your Trades
  • #10,247
  • Jul 14, 2014 9:20am Jul 14, 2014 9:20am
Quoting nerka75
Dear Undine, Was trying to read carefully through all the posts, might be I missed some info, sorry for that, however having in mind that you are the person which does not come along every day , I mean unselfish person, hope you will take a minute and reply to this question, and question is regarding rules: SUMMARY TRADING RULES: 2. Entry ONLY the FIRST 00 level ( does it mean that once hour starts, I should not take any 00 level except 1st which happens in that hour, even if we have crossing of 2 or more 00 levels in that hour?) 11. Check ADR (what...
open a demo account with an MT4 broker. Set up the charts as per the indicators and templates provided on post 1. Use the demo template to guide your live trading on Oanda. How difficult is that? Then you can make sure your trades conform to the system.
  • #10,248
  • Jul 14, 2014 9:31am Jul 14, 2014 9:31am
Quoting jmflukeiii
{quote} The ask was also already above the .600. My broker is so screwy... I negotiated spreads and commissions so my broker put me on a different MT4 server. So I get a tighter spread, and they charge me a commission, but my charts still show the crappy spreads. So the bid on my chart is, for example, 1.2 pips lower than my actual bid on GJ right now. And the ask on my chart is 1.1 pips higher than my actual ask. This isn't that big of a deal (other than being absolutely ridiculous), except if price is close to a line, and my actual ask is below...
Yes my open for that candle was at 598 and the body of the candle was only 0.2 pips (a far different look to yours) so a long was not possible off my chart at all!

I only made the comment because it almost looked like you could squeeze in a long trade straight off the 1 st candle.

Masterrmind.............
Master your Mind then Master your Trades
  • #10,249
  • Jul 14, 2014 9:31am Jul 14, 2014 9:31am
eu +5
  • #10,250
  • Jul 14, 2014 9:33am Jul 14, 2014 9:33am
EU LONG @1.3620 to +5 TP.
Attached Image

Today -5 total. Need to pick my choices better.
See you tomorrow!
  • #10,251
  • Jul 14, 2014 9:34am Jul 14, 2014 9:34am
Quoting Froyo12345
There are Rules, but not when, when not to take trade.

if it was that easy... everybody would be rich already...

that comes with experience and even then you can make mistakes..

Udine
Sleep less, live fast, as it aint gonna last
  • #10,252
  • Jul 14, 2014 9:36am Jul 14, 2014 9:36am
Quoting easygoing
{quote} You take so many pips and that gives me a lot of hope and confidence in Udine's way (and its variation). You and Udine are my heros! hope every day will be kind to you!
The reality is that it will not always be that good!

That's when risk management comes in as a very important factor to your trading success and being able to manage correctly those trades that do not go to TP.

Thank you for your kind words I wish you great success!

Masterrmind...........
Master your Mind then Master your Trades
  • #10,253
  • Jul 14, 2014 9:39am Jul 14, 2014 9:39am
Quoting nerka75
Dear Undine, Was trying to read carefully through all the posts, might be I missed some info, sorry for that, however having in mind that you are the person which does not come along every day , I mean unselfish person, hope you will take a minute and reply to this question, and question is regarding rules: SUMMARY TRADING RULES: 2. Entry ONLY the FIRST 00 level ( does it mean that once hour starts, I should not take any 00 level except 1st which happens in that hour, even if we have crossing of 2 or more 00 levels in that hour?) 11. Check ADR (what...

you can run a demo mt4 run all indicator and trade on oanda
  • #10,254
  • Jul 14, 2014 9:39am Jul 14, 2014 9:39am
Quoting owner2005
Udine, will you potentially trade *jpy pairs on double red news on USD, or your filters only NFP and Interest Rates (for *jpy)? P.S. This question is only about USD-news on *jpy.
1. will you potentially trade *jpy pairs on double red news on USD : YES
2. or your filters only NFP and Interest Rates (for *jpy) : YES

Udine
Sleep less, live fast, as it aint gonna last
  • #10,255
  • Jul 14, 2014 9:42am Jul 14, 2014 9:42am
Quoting nerka75
Dear Undine, Was trying to read carefully through all the posts, might be I missed some info, sorry for that, however having in mind that you are the person which does not come along every day , I mean unselfish person, hope you will take a minute and reply to this question, and question is regarding rules: SUMMARY TRADING RULES: 2. Entry ONLY the FIRST 00 level ( does it mean that once hour starts, I should not take any 00 level except 1st which happens in that hour, even if we have crossing of 2 or more 00 levels in that hour?) 11. Check ADR (what...



2. correct
11. the bottomleft corner indicator (set up the OANDA MT4 platform for charting then you have all the indicators and do the trading on your regular oanda platform... , otherwise no use nor possibility to check the ADR)

Udine
Sleep less, live fast, as it aint gonna last
  • #10,256
  • Jul 14, 2014 9:47am Jul 14, 2014 9:47am
Quoting Udine
{quote} 1. will you potentially trade *jpy pairs on double red news on USD : YES 2. or your filters only NFP and Interest Rates (for *jpy) : YES Udine
Thank you very much for quick and accurate answers.
In my country in this case we usually saying that accuracy is the sister of talent.
  • #10,257
  • Jul 14, 2014 9:53am Jul 14, 2014 9:53am
Hi all!
First of all I wish to thanks Udine for this method!
Simple and effective
I would want have a picture of you on my bedside table....
Anyway, I often work in mobility, is there anybody who's trading with Udine's setup on MT4 android Platform?
How is working?
Thanks to everyone for contribution and to help newbie like me.
  • #10,258
  • Jul 14, 2014 9:57am Jul 14, 2014 9:57am
Quoting mmete
Hi all! First of all I wish to thanks Udine for this method! Simple and effective I would want have a picture of you on my bedside table.... Anyway, I often work in mobility, is there anybody who's trading with Udine's setup on MT4 android Platform? How is working? Thanks to everyone for contribution and to help newbie like me.
How you want to setup the system on an Android if the indicators are not available? What you need is a tablet with win OS.

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #10,259
  • Jul 14, 2014 10:05am Jul 14, 2014 10:05am
  •  Neio
  • Joined Oct 2012 | Status: Can't think outside?Enlarge the box | 688 Posts
Quoting mmete
Hi all! First of all I wish to thanks Udine for this method! Simple and effective I would want have a picture of you on my bedside table.... Anyway, I often work in mobility, is there anybody who's trading with Udine's setup on MT4 android Platform? How is working? Thanks to everyone for contribution and to help newbie like me.
Hi Mmete

I am....working fine for me. You will not have the trailing stop function on the mobile platform or indicators but I often just let it go to TP or hit the SL. Sometimes I close out manually if I am watching the trade.

To start each day just need to check the daily TF to see at what price levels the candle is up or down for the day. I just set pending buy/sell stops with relevant SL/TPs on the hour.

Regards

Neio
An expert is a man who has made all the mistakes which can be made
  • #10,260
  • Jul 14, 2014 10:06am Jul 14, 2014 10:06am
Time for me to rest...........

Good luck to all the remaining traders............

Until tomorrow trade well...........

Masterrmind...........
Master your Mind then Master your Trades
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