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As simple as possible: 00 level trading

  • #10,501
  • Jul 15, 2014 4:04am Jul 15, 2014 4:04am
Anyone have live information about the BOE speach thats happening now... would just like to know when it ends...
  • #10,502
  • Jul 15, 2014 4:06am Jul 15, 2014 4:06am
Quoting FXEmpire
{quote} well Udine.. i be honest with you.. if you take decision such as that.. speaking on consistency.. you will not make 10% a week.. you would even lose.. but hey it's just different opinion.. it's just a civil conversation folks don't get all crazy now on me, lol

I know...

I have to train more on the PDF & BCC part as well..

If I am honest ... when I look at the calendar now.. with more red news than blood in my body, i simply should have gone out and play some golf...that would really have been a smart move

there is also for me room for improvement..

Udine
Sleep less, live fast, as it aint gonna last
  • #10,503
  • Jul 15, 2014 4:12am Jul 15, 2014 4:12am
Quoting Udine
{quote} I know... I have to train more on the PDF & BCC part as well.. If I am honest ... when I look at the calendar now.. with more red news than blood in my body, i simply should have gone out and play some golf...that would really have been a smart move there is also for me room for improvement.. Udine
PDF and BCC will always be something to work on if we are all honest and sometimes we will all slip as well - that's called being human...

My platform is closed now, No trades today, nothing lost, plenty gained and another flex of my PDF makes it stronger just like a muscle... wish I could go play golf, but nighttime here... so I might as well do some w.o.r.k as my trading isn't yet up to par to give that away!!

Good luck to anyone willing to stay within the rules and put some real money on the line today, I wish you the greenest of pips!
  • #10,504
  • Jul 15, 2014 4:14am Jul 15, 2014 4:14am
Quoting Udine
{quote} I know... I have to train more on the PDF & BCC part as well.. If I am honest ... when I look at the calendar now.. with more red news than blood in my body, i simply should have gone out and play some golf...that would really have been a smart move there is also for me room for improvement.. Udine
So you won't trade anymore today and take a -10 loss or you will trade NY?
  • #10,505
  • Jul 15, 2014 4:15am Jul 15, 2014 4:15am
Quoting Udine
{quote} I know... I have to train more on the PDF & BCC part as well.. If I am honest ... when I look at the calendar now.. with more red news than blood in my body, i simply should have gone out and play some golf...that would really have been a smart move there is also for me room for improvement.. Udine
well said Udine, very mature aprroach. I can only aplaud for this kind of self knowledge!
Persistence will get it. Consistency will keep it.
  • #10,506
  • Jul 15, 2014 4:16am Jul 15, 2014 4:16am
Quoting buntmn
{quote} Burpees? Looks like start of hour was above 300
Great pickup ....very marginal but slightly above technically yes.

Anticipation and only a long trade applicable as shorting not possible by the rules.

Also steered clear of JPY pairs so took the EA trade.

Masterrmind.............
Master your Mind then Master your Trades
  • #10,507
  • Jul 15, 2014 4:20am Jul 15, 2014 4:20am
Quoting Udine
{quote} I know... I have to train more on the PDF & BCC part as well.. If I am honest ... when I look at the calendar now.. with more red news than blood in my body, i simply should have gone out and play some golf...that would really have been a smart move there is also for me room for improvement.. Udine

amen to that brother, me and you both.. we had better chance at making money dueling on a round of golf game,



believe it or not, this is what I do every morning before start of trading.. I draws up on a sheet of paper dividing the hours in boxes from start to end of London to keep track and journal signals and trades.. and more importantly fill in the news right away..
today after filling out the news's.. as much as i looked to find a free spot to trade, I could only squeeze in half hour here and there only and even that was a stretch, lol.. that is why I was so keen early on this boj press con to see if i can get a couple of trades in and be done.. or so i thought, lol

I know next time I see as similar I just close all plat..
Passion, Persist, Patience, Protect
  • #10,508
  • Jul 15, 2014 4:24am Jul 15, 2014 4:24am
Hi Udine, can you explain to me how the TS works. If we have a TP at +5, the TS kicks in at +3.5, surely once price reaches +5 then the TP triggers.
Is the TS used to reduce losses from -10 to b/e, rather than use it to trail behind large moves?
  • #10,509
  • Jul 15, 2014 4:24am Jul 15, 2014 4:24am
Quoting jsf
Some may find this interesting - nothing to do with method. Brokers sometimes work for us too {image}
Most likely better not to post it if it has little to do with this trading method.......

However I had a similar slippage (due to PA acceleration on a silver short)

It too went in my favor considering that my TP was about 5 pips and it closed out at 13.7 pips (no reason to complain)

But disaster potentially if the trade goes against you. Had to do with no hard TP registered at my broker due to using HTP in EA.

Interesting nonetheless.

Masterrmind............
Master your Mind then Master your Trades
  • #10,510
  • Jul 15, 2014 4:25am Jul 15, 2014 4:25am
Quoting Udine
{quote} so your a news trader... open a thread and teach us something.. please stick to rules or your our Nr. 3 Udine
I will not post anymore.

I just posted what System is to me.
Trade a line with momentum.
Not every trade will obey the rules, but the premise is there.

I use PDF, I just hold onto trades. That is my PDF.

I will offend No Futher.
  • #10,511
  • Jul 15, 2014 4:25am Jul 15, 2014 4:25am
Quoting lucariga
{quote} So you won't trade anymore today and take a -10 loss or you will trade NY?

I will check the charts @ NY open, but I think from what i see now, that the chances are slim to none..

Udine
Sleep less, live fast, as it aint gonna last
  • #10,512
  • Jul 15, 2014 4:26am Jul 15, 2014 4:26am
Quoting FXEmpire
{quote} amen to that brother, me and you both.. we had better chance at making money dueling on a round of golf game, believe it or not, this is what I do every morning before start of trading.. I draws up on a sheet of paper dividing the hours in boxes from start to end of London to keep track and journal signals and trades.. and more importantly fill in the news right away.. today after filling out the news's.. as much as i looked to find a free spot to trade, I could only squeeze in half hour here and there only and even that was a stretch,...

not a bad idea...

would be nice to have an indi that would block out those periods.. 1 hour before and 30 minutes after....

hmm...

need to think about that..

Udine
Sleep less, live fast, as it aint gonna last
  • #10,513
  • Jul 15, 2014 4:27am Jul 15, 2014 4:27am
Quoting Callum
{quote} PDF and BCC will always be something to work on if we are all honest and sometimes we will all slip as well - that's called being human... My platform is closed now, No trades today, nothing lost, plenty gained and another flex of my PDF makes it stronger just like a muscle... wish I could go play golf, but nighttime here... so I might as well do some w.o.r.k as my trading isn't yet up to par to give that away!! Good luck to anyone willing to stay within the rules and put some real money on the line today, I wish you the greenest of pips!...
Yep. I'm 10 pips down, ADR's getting maxed, more news to come.
I can stick around and hope to trade out of it but for me it will be little more than revenge trading.
Today I think is a good day to be a spectator and I think we are all doing some learning.
Tomorrow is another day. Platform getting closed.

Good luck to all those taking on NY
  • #10,514
  • Jul 15, 2014 4:27am Jul 15, 2014 4:27am
Quoting andys0506
Hi Udine, can you explain to me how the TS works. If we have a TP at +5, the TS kicks in at +3.5, surely once price reaches +5 then the TP triggers. Is the TS used to reduce losses from -10 to b/e, rather than use it to trail behind large moves?
what is the meaning of TS??

so what is it supposed to do??

besides it is mentioned in the thread..

Udine
Sleep less, live fast, as it aint gonna last
  • #10,515
  • Jul 15, 2014 4:30am Jul 15, 2014 4:30am
Quoting Vikingi
{quote} Could you please upload your indicators and templates ? they seem amazingly clean and nice
I have simply modified the parameters etc so best you attempt this yourself in the first instance.

It's not that hard and it's a great learning experience.

If after several attempts you still can't create it then just PM me.

I doubt you would need to PM though it's not hard at all.

Masterrmind............
Master your Mind then Master your Trades
  • #10,516
  • Jul 15, 2014 4:35am Jul 15, 2014 4:35am
ICMarkets platform freeze for sometime when red news comes..I have experienced it today but because pending orders are set, they get executed automatically..I have to force close and reopen my platform..Is there anyone experienced the same??
  • #10,517
  • Jul 15, 2014 4:37am Jul 15, 2014 4:37am
2 losses today
same as most others
ADR hit on 3 out of 4 pairs so based on my lesson from yesterday....NO TRADE
only EJ left at NY
if i am up i will attempt to trade it. but with only one pair to stay up for i may change my mind and do burpees instead of trade!
  • #10,518
  • Jul 15, 2014 4:40am Jul 15, 2014 4:40am
Quoting Udine
{quote} ... you must look for reasons not to take a trade and ONLY when you cannot find one, you set your pending orders Udine
Thank you Udine for great advise I did not use today 3 times and the result = 3 loses. Need to treat my Demo account like the real one.
I found the reasons(I should work harder before the entry) why trades didn't work out this morning. May be it will help to somebody here.
Blue lines are representing Supply and Demand.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPJPY15M20140715.png Size: 96 KB
Click to Enlarge Name: EURJPYM120140715.png Size: 49 KB
Click to Enlarge Name: EURJPYM1520140715.png Size: 70 KB
Look for reasons not to take a trade.
  • #10,519
  • Jul 15, 2014 4:40am Jul 15, 2014 4:40am
Quoting Udine
{quote} what is the meaning of TS?? so what is it supposed to do?? besides it is mentioned in the thread.. Udine
TS = trailing stop. My understanding of a trailing stop is to maximise gains however that doesn't seem to apply here as the take profit at +5 will always kick in.
  • #10,520
  • Jul 15, 2014 4:42am Jul 15, 2014 4:42am
Quoting Masterrmind
{quote} Most likely better not to post it if it has little to do with this trading method....... However I had a similar slippage (due to PA acceleration on a silver short) It too went in my favor considering that my TP was about 5 pips and it closed out at 13.7 pips (no reason to complain) But disaster potentially if the trade goes against you. Had to do with no hard TP registered at my broker due to using HTP in EA. Interesting nonetheless. Masterrmind............
I don't think we should be too anal about showing potentially helpful information, of the 170 viewers of this thread I am sure not all have seen slippage in action.

All I wanted to show is that there are no guarantees to SL and TP ( I had a hard TP). Hidden stops will be hit even harder due to communication delays and more so at time of great activity at the broker.

But not to worry, I will not contaminate your precious thread again!
When all conditions are met - Enter trade - sit back and FRET !!!
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