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As simple as possible: 00 level trading

  • #11,261
  • Jul 17, 2014 3:16am Jul 17, 2014 3:16am
Quoting easygoing
{quote} Thanks. I'll do that. I'll reduce my lot size to half from the next hour. I'm thinking what's different when I was winning and now. I think I need to be more relaxed.

Here's something you could use, easygoing

3 Steps in Dealing with Forex Trading Stress

Read more: http://www.babypips.com/blogs/pipsyc...#ixzz37iBmdypi
  • #11,262
  • Jul 17, 2014 3:19am Jul 17, 2014 3:19am
Quoting Ff-fx
EJ out by TS Should not have entered as close is 137.307 (<1 pip) but it was higher whenb I placed the order a few seconds before. I think the right entry level would have been 137.200 as it would have shown a real sync between EJ and GJ . I thought the period betweel FFO and LO was a bounce to go lower and return in sync with GJ but it wasn't true. GJ manually stopped at 173.700. When I saw that the BE was passed and that sync with EJ was going bader, moved my SL to 0. Seems I was wrong as it stopped at 173.799 and went down to TP at 173.645 ;-(...

I don't think there's much correlation between ej and gj. it would more ej and eu or gj and gu. check out this tool, it helped get a sense of what to look in terms of sync.

http://fxtrade.oanda.ca/analysis/currency-correlation
  • #11,263
  • Jul 17, 2014 3:19am Jul 17, 2014 3:19am
Quoting Nik13
.... I don't think that both of this trades will be activated, so the chanses are higher, than to open orders only in one direction. IMAO. How do you think?
Yeah, chances for getting an entry is higher, however I'd rather look for the good chances for getting a TP.
I prefer looking for the daily trend/bias and look for entries ONLY in that direction.
  • #11,264
  • Jul 17, 2014 3:22am Jul 17, 2014 3:22am
EA buy @ 1.44500 -> SL
LOL
  • #11,265
  • Jul 17, 2014 3:22am Jul 17, 2014 3:22am
Quoting Ff-fx
..... GJ manually stopped at 173.700. When I saw that the BE was passed and that sync with EJ was going bader, moved my SL to 0. Seems I was wrong as it stopped at 173.799 and went down to TP at 173.645.....
Or you were right! I wish I BE-d out the same GJ pos as that retrace up cost me -10 pips.
  • #11,266
  • Jul 17, 2014 3:22am Jul 17, 2014 3:22am
Quoting Ff-fx
EJ out by TS Should not have entered as close is 137.307 (<1 pip) but it was higher whenb I placed the order a few seconds before. I think the right entry level would have been 137.200 as it would have shown a real sync between EJ and GJ . I thought the period betweel FFO and LO was a bounce to go lower and return in sync with GJ but it wasn't true. GJ manually stopped at 173.700. When I saw that the BE was passed and that sync with EJ was going bader, moved my SL to 0. Seems I was wrong as it stopped at 173.799 and went down to TP at 173.645 ;-(...
Hi Ff-fx,

I check the correlation as follows:

EJ > GJ and EU.
GJ > EJ and GU.
EU > EJ.
GU > GJ.

Best regards,

Frietzak
  • #11,267
  • Jul 17, 2014 3:23am Jul 17, 2014 3:23am
Quoting nitecop
{quote} I don't think there's much correlation between ej and gj. it would more ej and eu or gj and gu. check out this tool, it helped get a sense of what to look in terms of sync. http://fxtrade.oanda.ca/analysis/currency-correlation
Now thats handy.......Thanks
  • #11,268
  • Jul 17, 2014 3:25am Jul 17, 2014 3:25am
Udine, do weeks like these (the current, with a lot of red news and unusual trends and the first of the month that was the hardest of the last 10) occurr often?
In your opinion may it be because we are in summer, ADRs are low and markets behaviour is different compared to the other months of the year?
I know it is impossible to forecast the markets, but I'll ask it as well: by your experience, do you expect september to be easyer than now?

Lrt
"Every battle is won before it's fought."
  • #11,269
  • Jul 17, 2014 3:25am Jul 17, 2014 3:25am
Quoting Carpathian
{quote} Yeah, chances for getting an entry is higher, however I'd rather look for the good chances for getting a TP. I prefer looking for the daily trend/bias and look for entries ONLY in that direction.

Yeap! you know however hope you'll get TP. let's see what will happen in next hour.
Stay Hungry Stay Foolish
  • #11,270
  • Jul 17, 2014 3:28am Jul 17, 2014 3:28am
Quoting nitecop
{quote} I don't think there's much correlation between ej and gj. it would more ej and eu or gj and gu. check out this tool, it helped get a sense of what to look in terms of sync. http://fxtrade.oanda.ca/analysis/currency-correlation

holy shit.. according to the tool i posted chf/jpy is DITTO to eur/jpy... possible superior sync currency??
  • #11,271
  • Jul 17, 2014 3:29am Jul 17, 2014 3:29am
Quoting frietzak
{quote} Hi Ff-fx, I check the correlation as follows: EJ > GJ and EU. GJ > EJ and GU. EU > EJ. GU > GJ. Best regards, Frietzak

@Frybag

What do you mean by ">" ?
  • #11,272
  • Jul 17, 2014 3:33am Jul 17, 2014 3:33am
Quoting Nik13
{quote} Yeap! you know however hope you'll get TP. let's see what will happen in next hour.
Thanks! By todays LO GU, GJ, UJ have already moved a lot making it difficult to enter on trend continuation.
  • #11,273
  • Jul 17, 2014 3:38am Jul 17, 2014 3:38am
Quoting Carpathian
{quote} Thanks! By todays LO GU, GJ, UJ have already moved a lot making it difficult to enter on trend continuation.

GU and GJ are killing me :X but may be there will be shorts in next hour.
Stay Hungry Stay Foolish
  • #11,274
  • Jul 17, 2014 3:38am Jul 17, 2014 3:38am
Quoting flx69
{quote} @Frybag What do you mean by ">" ?
Fairly sure it translates to " should be in sync with ". i.e. GJ > EJ and GU translates to "For a trade on GJ I need to see that GJ is in sync with both EJ and GU."
  • #11,275
  • Jul 17, 2014 3:40am Jul 17, 2014 3:40am
Quoting Udine
{quote} its not only that... just check the calendar and see how many news we had... news means sudden moves, direction changes, spikes anything can happen.. So far it simply has been a very difficult week.. As I mentioned earlier this week.. I should not even have opened my platform and be doing somehting else.. Dont dispear.. PDF & BCC Udine
Thank you, Master. Reading this week's journal I think I could avoid at least 3 losing trades.
And if I had been able to have 2 positions at the same time, there would have been some more winning trades.
From now on, I'll reduce my lot size to half, so I can have 2 positions at a time.

Now I go to psychoanalysis. See you guys in NY session.

PDF & BCC to all
My hope has been almost completely shattered, but not completely yet
  • #11,276
  • Jul 17, 2014 3:41am Jul 17, 2014 3:41am
Quoting fx_malloc
{quote} Fairly sure it translates to " should be in sync with ". i.e. GJ > EJ and GU translates to "For a trade on GJ I need to see that GJ is in sync with both EJ and GU."
You are absolutely right.
  • #11,277
  • Jul 17, 2014 3:41am Jul 17, 2014 3:41am
Hard to trade today.
How long have you guys tried on a demo before you entered a live account?
  • #11,278
  • Jul 17, 2014 3:42am Jul 17, 2014 3:42am
Quoting Lrt.Ita
Udine, do weeks like these (the current, with a lot of red news and unusual trends and the first of the month that was the hardest of the last 10) occurr often? In your opinion may it be because we are in summer, ADRs are low and markets behaviour is different compared to the other months of the year? I know it is impossible to forecast the markets, but I'll ask it as well: by your experience, do you expect september to be easyer than now? Lrt

simple answer: yes

Udine
Sleep less, live fast, as it aint gonna last
  • #11,279
  • Jul 17, 2014 3:42am Jul 17, 2014 3:42am
Quoting Nik13
{quote} GU and GJ are killing me :X but may be there will be shorts in next hour.
Yes, it GJ opens above .700 I think I'll go again, provided the GU and GJ look good.
A note to looking for short in EJ and long in EU at the same time -- Udine also recommends to look for entries when the two (EJ, EU) are in sync. However now Daily EJ is red and EU is green.
  • #11,280
  • Jul 17, 2014 3:44am Jul 17, 2014 3:44am
Quoting nitecop
{quote} Here's something you could use, easygoing 3 Steps in Dealing with Forex Trading Stress Read more: http://www.babypips.com/blogs/pipsyc...#ixzz37iBmdypi
Thank you, nitecop. I've read the article. First, I acknowledge my stress. I think I'll gain my control again. PDF & BCC
My hope has been almost completely shattered, but not completely yet
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