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As simple as possible: 00 level trading

  • #10,521
  • Jul 15, 2014 4:45am Jul 15, 2014 4:45am
Quoting andys0506
{quote} 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.

correct, but the TP level will not always be reached, so the TS works as a capital protection

Udine
Sleep less, live fast, as it aint gonna last
  • #10,522
  • Jul 15, 2014 4:45am Jul 15, 2014 4:45am
Quoting overseaz
.... Blue lines are representing Supply and Demand.
What do you mean by Supply and Demand? How do the blue lines represent them? Thanks
  • #10,523
  • Jul 15, 2014 4:45am Jul 15, 2014 4:45am
Quoting andys0506
{quote} 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.
TS is here as insurance. Many times I've seen price just fall short of TP and then revert to SL. This way if it gets to 4 pips, you'll at least get BE.
Covered here before in the thread.
  • #10,524
  • Jul 15, 2014 4:49am Jul 15, 2014 4:49am
Quoting buntmn
{quote} TS is here as insurance. Many times I've seen price just fall short of TP and then revert to SL. This way if it gets to 4 pips, you'll at least get BE. Covered here before in the thread.
4 pips?
3.5 pips the TS rule is i thought?
  • #10,525
  • Jul 15, 2014 4:49am Jul 15, 2014 4:49am
My 3d trade was a Buy wright to 1H Supply zone.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYH120140715.png Size: 75 KB
Look for reasons not to take a trade.
  • #10,526
  • Jul 15, 2014 4:52am Jul 15, 2014 4:52am
Quoting overseaz
My 3d trade was a Buy wright to 1H Supply zone. {image}

i dont use them, as I have never understood when they work and when not..

Udine
Sleep less, live fast, as it aint gonna last
  • #10,527
  • Jul 15, 2014 4:52am Jul 15, 2014 4:52am
Quoting jsf
{quote} 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!
Thank you.......

Masterrmind............
Master your Mind then Master your Trades
  • #10,528
  • Jul 15, 2014 4:53am Jul 15, 2014 4:53am
Quoting jsf
{quote} 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!

jsf.. slippage has nothing to do with ndd/ecn broker being with you or against you .. it's part of the business overall and anyone who has the slightest experience in trading would and should know about this. I have seen as much as 50 points with a leading broker..

anyways it's all good.. let's all make some greens.. not all days are sunshine and fruity.
Passion, Persist, Patience, Protect
  • #10,529
  • Jul 15, 2014 4:53am Jul 15, 2014 4:53am
Quoting yag
{quote} 4 pips? 3.5 pips the TS rule is i thought?
My default has TS kicking in at 4 pips, that way if it retraces 3.5 pips there'll be .5 pips to cover commission.
  • #10,530
  • Jul 15, 2014 4:57am Jul 15, 2014 4:57am
Quoting Udine
{quote} correct, but the TP level will not always be reached, so the TS works as a capital protection Udine
Ok, so once we reach +3.5 the TS kicks in to protect us at breakeven rather than risk -10.
If we get to +3.5 our max loss is 0, and max gain is 5 - is that correct?
  • #10,531
  • Jul 15, 2014 4:58am Jul 15, 2014 4:58am
Quoting overseaz
My 3d trade was a Buy wright to 1H Supply zone. {image}
also right up to violation of rule 7, lol.

on a serious note.. also equal amount of times you would see that these sup/dem zone get crushed like a pumpkin..
don't need to roll back far.. just look at yesterdays ej chart.. at the point right before the long take off.. you had one of you beloved sup/dem zone..
Passion, Persist, Patience, Protect
  • #10,532
  • Jul 15, 2014 5:00am Jul 15, 2014 5:00am
Quoting Udine
{quote} i dont use them, as I have never understood when they work and when not.. Udine
I will just avoid all obvious ones. Will see if it helped.
Look for reasons not to take a trade.
  • #10,533
  • Jul 15, 2014 5:00am Jul 15, 2014 5:00am
Quoting andys0506
{quote} Ok, so once we reach +3.5 the TS kicks in to protect us at breakeven rather than risk -10. If we get to +3.5 our max loss is 0, and max gain is 5 - is that correct?
  • #10,534
  • Jul 15, 2014 5:00am Jul 15, 2014 5:00am
Quoting Udine
{quote} 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

I just made an Excel document format, with a line for every pair (4) and a column for every 1/2 hour, i paint in red the time zones affected by the news.. I compile it every morning before trading and keep it open in the background.. It's part of my daily routine

Lrt
"Every battle is won before it's fought."
  • #10,535
  • Jul 15, 2014 5:02am Jul 15, 2014 5:02am
Quoting andys0506
{quote} Ok, so once we reach +3.5 the TS kicks in to protect us at breakeven rather than risk -10. If we get to +3.5 our max loss is 0, and max gain is 5 - is that correct?
Sleep less, live fast, as it aint gonna last
  • #10,536
  • Jul 15, 2014 5:02am Jul 15, 2014 5:02am
Quoting FXEmpire
{quote} also right up to violation of rule 7, lol. on a serious note.. also equal amount of times you would see that these sup/dem zone get crushed like a pumpkin.. don't need to roll back far.. just look at yesterdays ej chart.. at the point right before the long take off.. you had one of you beloved sup/dem zone..
True:-) When I realized was too late already. I did my 20 push ups.
Look for reasons not to take a trade.
  • #10,537
  • Jul 15, 2014 5:03am Jul 15, 2014 5:03am
Quoting Lrt.Ita
{quote} I just made an Excel document format, with a line for every pair (4) and a column for every 1/2 hour, i paint in red the time zones affected by the news.. I compile it every morning before trading and keep it open in the background.. It's part of my daily routine Lrt


Udine
Sleep less, live fast, as it aint gonna last
  • #10,538
  • Jul 15, 2014 5:04am Jul 15, 2014 5:04am
Quoting overseaz
My 3d trade was a Buy wright to 1H Supply zone. {image}
You shouldn't have to open that trade because of the red news for EUR at 9 GMT (German ZEW Economic Sentiment), should you?
Let's go with the flow
  • #10,539
  • Jul 15, 2014 5:10am Jul 15, 2014 5:10am
Quoting Lrt.Ita
{quote} I just made an Excel document format, with a line for every pair (4) and a column for every 1/2 hour, i paint in red the time zones affected by the news.. I compile it every morning before trading and keep it open in the background.. It's part of my daily routine Lrt

it be nice if you could post that lrt..
mine is hand written..

i think it should be one of the rules.. saying: fill up you boxes before begin your trading session..
Passion, Persist, Patience, Protect
  • #10,540
  • Jul 15, 2014 5:12am Jul 15, 2014 5:12am
Quoting FXEmpire
{quote} on a serious note.. also equal amount of times you would see that these sup/dem zone get crushed like a pumpkin.. don't need to roll back far.. just look at yesterdays ej chart.. at the point right before the long take off.. you had one of you beloved sup/dem zone..
Hi FXEmpire,
If you show me the exact zone you are talking about I can analyze it. If Udine will not like S\D discussions in the thread(since he doesn't use it) I can send you a PM with my opinion if you like.
Alec
Look for reasons not to take a trade.
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