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As simple as possible: 00 level trading

  • #10,681
  • Jul 15, 2014 2:01pm Jul 15, 2014 2:01pm
You are in 'mind" if you have a better day.

The most important thing is to Control emotions.

Fear of loosing... makes people post irrelevant.
Intraday only.
  • #10,682
  • Jul 15, 2014 2:03pm Jul 15, 2014 2:03pm
Quoting nerka75
Hi guys, Me again, do not want to be anoying, but need somem help. Got MT4 now, but have to issues: an someone direct to 1. Do not know which ones are the latest EA, can someone direct to right post? 2. Some help how to add that EA to MT4, totally green here BR, NER
I recommend you go to youtube and watch a few mt4 tutorials. I can recommend alpari.uk's channel, this got me up and running in no time. I just started a few weeks ago, and i have never seen mt4 before, but I'm already comfortable using it. You should put in some work, understanding your tool is a vital part before even starting to trade.

As for the last working version of the ea, click on the paperclip icon on the top right corner, find the name and read the post with the attachement. Eric has posted a description on every release.
  • #10,683
  • Jul 15, 2014 2:34pm Jul 15, 2014 2:34pm
Quoting navk
Gj + 5 ( Asia - short) ea + 5 ( Asia - Long ) ga +5 ( Asia - Long ) gu +9, ( Long - London ) GU + 5 ( NY - long ) gj - 10 (Asia long, SL hit ) gc +5 ( NY long ) UPDATE : 4 %
Do regular Asia session traders find better trades early Asia, middle Asia, late Asian session? I try to get going during Asia open but it's right at dinner hour in my time zone (central us) and have needy kids who want to be fed at open time!
  • #10,684
  • Jul 15, 2014 2:40pm Jul 15, 2014 2:40pm
Quoting uselessh
{quote} I recommend you go to youtube and watch a few mt4 tutorials. I can recommend alpari.uk's channel, this got me up and running in no time. I just started a few weeks ago, and i have never seen mt4 before, but I'm already comfortable using it. You should put in some work, understanding your tool is a vital part before even starting to trade. As for the last working version of the ea, click on the paperclip icon on the top right corner, find the name and read the post with the attachement. Eric has posted a description on every release.
Do not want to find the easy way , thanks, will do my homework.
  • #10,685
  • Jul 15, 2014 2:56pm Jul 15, 2014 2:56pm
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
That's why I switched to the NewsCal-v107 because it can draw vertical lines directly on the chart where the news is so I can see it in advance. You can also filter what news you want to see on each chart.
  • #10,686
  • Jul 15, 2014 3:06pm Jul 15, 2014 3:06pm
this system wont work on ANY pair right?
Stay Hungry Stay Foolish
  • #10,687
  • Jul 15, 2014 3:21pm Jul 15, 2014 3:21pm
Hi Guys:
Thanks to Udine for this nice thread. Is there any one here who uses Oanda MT4 platform? Since I use Oanda web based platform for trading , I want to use their MT4 platform for indicators. I am not a big fan for indicators (specially EAs) and the rules for this system is very straight forward and easy for manual trading. I was only looking for ADR values that I can't get from the available in built indicators. Although, I am not expert for MT4 platform, but I have basic knowledge how to add indicators, templates etc. I have copied all the indicators in right place, but the information displays as static (Only for GBP/GPY). Funny thing, I can't see any added indicators in the Customs Indicator area. I still only see the indicators that I added about a year back (last time, I used MT4). But, my Oanda mt4 version is upto date. I even downloaded new FXCM MT4 to check but still same issue. So, any one uses Oanda MT4? Also, any one from US (PST Zone) to share their experience as trading london time is difficult for us and NY time is also very early. But I can still try NY open hours.

Thanks,
FX_California
  • #10,688
  • Jul 15, 2014 3:23pm Jul 15, 2014 3:23pm
Quoting fxokieusa
{quote} Do regular Asia session traders find better trades early Asia, middle Asia, late Asian session? I try to get going during Asia open but it's right at dinner hour in my time zone (central us) and have needy kids who want to be fed at open time!
I always found it somewhat difficult to get into a trade in Asia.

I used to try out after Tokyo open time for an hour or so. 5 pips worth. After 10 pm ET, it is not time to trade until FF opens.

Some days, AUS news gives volatility to AUD related pairs in Asia.
Intraday only.
  • #10,689
  • Jul 15, 2014 3:44pm Jul 15, 2014 3:44pm
Quoting navk
Most of experienced traders know this. Trading psychology can affect your judgment while you are trading. There are two emotions in particular have been the source of ruin for forex traders over the years. Those two emotions are fear and greed. Fear will cause you to either not make a trade when the opportunity arises, or to close a trade prematurely without giving it a chance to be profitable. Greed will cause you to make trades that are too large or too risky, while trying to...
What is the point of posting this common sense for most traders when you are not simply following the rules of this system?
This is a pure systematic approach which its main purpose it to eliminate that subjectivity of emotional trading.
If you think about those simple tools in the chart and rules in this system that Udine brilliantly put together, you will realize that this is a very reasonable system.
And Udine kindly suggested his system based on his profitability after months and years of testing I assume, so in order to profit from this system is to follow those rules of Udine. So, at lest test it out month or two, then evaluate your results.

I also see many traders trying to upgrade the system by combining it with their own favorite tools and logic.
Sure, SD zone can help... why not fibo levesl, how about throwing few indicators in there as well? (Please test it out on your own and if you can create a consistent profitability by combining it with such for certain periods of time, then you may carefully suggest)
It would only add more subjectivity to the system hence most likely reduce your probability of winning in a long run.
  • #10,690
  • Jul 15, 2014 4:04pm Jul 15, 2014 4:04pm
Quoting FX_California
Hi Guys: Thanks to Udine for this nice thread. Is there any one here who uses Oanda MT4 platform? Since I use Oanda web based platform for trading , I want to use their MT4 platform for indicators. I am not a big fan for indicators (specially EAs) and the rules for this system is very straight forward and easy for manual trading. I was only looking for ADR values that I can't get from the available in built indicators. Although, I am not expert for MT4 platform, but I have basic knowledge how to add indicators, templates etc. I have copied all the...
Right click on your chart and open the indicators window...I think you have something missing...Oanda works fine for charting, but this method really needs tight tight spreads like you will get with an ECN mt4 platform..Oanda's spreads are simply too wide for trading an instrument like gj...(they maintain good spreads on euro/usd and usd/jpy, but that is about it).
  • #10,691
  • Jul 15, 2014 4:12pm Jul 15, 2014 4:12pm
Quoting nitecop
I'm wondering, are there other traders here who like me live in North America? if so, which times do you trade? i find trading at 2am-9am EST can be quit taxing on social/lifestyle issues. Not complaining but just wondering if there are alternatives.
try trading from Victoria B.C. London opens at midnight my time so have to either change sleeping time, or just trade Ny...for 3 hours or so...
  • #10,692
  • Jul 15, 2014 4:15pm Jul 15, 2014 4:15pm
Quoting JibalaPasan
I am off na, Typhoon to much heavy! Jibala
Stay safe...look forward to your posts...
  • #10,693
  • Jul 15, 2014 6:26pm Jul 15, 2014 6:26pm
Personally NAVK charts are close enough to most of the rules to show charts. Try to learn instead of being quick to bash someone for their great results. FXEMPIRE don't take this the wrong way but haven't seen any contribution from you either but your quick to get on someone else and wanting Udine to put them on the ignore list. This system has some discretion meaning just can't have hard rules. I just wish everyone would post more charts less talk and be a little more courteous to one another. All it takes is one post from someone other than Udine that tweeked the rule just a little but within the system that made it work for him/her to also click for you. Remember with post in here peoples daily open will change entrys for everyone. Its a great system/method and profitable just don't want to see infighting to derail a thread.
  • #10,694
  • Jul 15, 2014 6:28pm Jul 15, 2014 6:28pm
Good luck to all traders today.

Main red news of concern starts with the GBP pairs about 1.5 hours into the London session.

Although there is no direct red news in the Asian session to speak of it would pay to be aware of the CNY (China red news) as it tends to have an impact on the AUD pairs.

Trade accordingly and have a great day.

Masterrmind...........
Master your Mind then Master your Trades
  • #10,695
  • Jul 15, 2014 6:47pm Jul 15, 2014 6:47pm
Quoting turboguru
Personally NAVK charts are close enough to most of the rules to show charts. Try to learn instead of being quick to bash someone for their great results. FXEMPIRE don't take this the wrong way but haven't seen any contribution from you either but your quick to get on someone else and wanting Udine to put them on the ignore list. This system has some discretion meaning just can't have hard rules. I just wish everyone would post more charts less talk and be a little more courteous to one another. All it takes is one post from someone other than Udine...
I think as long as you post your charts and give a clear albeit brief explanation of the reason why you took the trade and it does in general follow the rules of this strategy outlined by Udine then I think we all can learn something positive.

In the end isn't that what it's all about........being profitable!

ps. We should all strive to help each other in a positive constructive manner that leads to advancement as a better trader.

Masterrmind...........
Master your Mind then Master your Trades
  • #10,696
  • Jul 15, 2014 6:55pm Jul 15, 2014 6:55pm
Quoting Masterrmind
{quote} I think as long as you post your charts and give a clear albeit brief explanation of the reason why you took the trade and it does in general follow the rules of this strategy outlined by Udine then I think we all can learn something positive. In the end isn't that what it's all about........being profitable! ps. We should all strive to help each other in a positive constructive manner that leads to advancement as a better trader. Masterrmind...........
Agree well stated.
  • #10,697
  • Jul 15, 2014 6:55pm Jul 15, 2014 6:55pm
Quoting Masterrmind
{quote} I think as long as you post your charts and give a clear albeit brief explanation of the reason why you took the trade and it does in general follow the rules of this strategy outlined by Udine then I think we all can learn something positive. In the end isn't that what it's all about........being profitable! ps. We should all strive to help each other in a positive constructive manner that leads to advancement as a better trader. Masterrmind...........
Mastermind, love your nice attitude
Gonna make some nice pips tonight?
  • #10,698
  • Edited 7:25pm Jul 15, 2014 7:06pm | Edited 7:25pm
Quoting turboguru
Personally NAVK charts are close enough to most of the rules to show charts. Try to learn instead of being quick to bash someone for their great results. FXEMPIRE don't take this the wrong way but haven't seen any contribution from you either but your quick to get on someone else and wanting Udine to put them on the ignore list. This system has some discretion meaning just can't have hard rules. I just wish everyone would post more charts less talk and be a little more courteous to one another. All it takes is one post from someone other than Udine...
The looser tries to bash winners.

They will learn over a period of time everything, including how not loose. Leave alone winning. lol

I posted something about trading psychology. It is common sense as somebody said here, Udine has set it right in his rules about risk management, but how many of us follow ?

To be frank I am following this thread in the last 10 days or so.

You put it correctly, Udine has set simple rules and did not want to complicate by putting too many things. The followers have their own discretion for their trade finally.

He has covered everything including trading psychology ( Risk management ). The Followers have to

put into their mind strongly as otherwise they will continue to be on the loosing side
Intraday only.
  • #10,699
  • Jul 15, 2014 7:14pm Jul 15, 2014 7:14pm
GJ to target. There's that Tokyo Trend Push (TTP), the trend push at the open in the big sessions' trend. Halfway there -
Attached Image (click to enlarge)
Click to Enlarge Name: gj 7.15.14.png Size: 19 KB
Small disciplines repeated with consistency lead to great achievements.
  • #10,700
  • Jul 15, 2014 7:19pm Jul 15, 2014 7:19pm
Quoting jmflukeiii
GJ to target. There's that Tokyo Trend Push (TTP), the trend push at the open in the big sessions' trend. Halfway there - {image}
Well done.
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