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As simple as possible: 00 level trading

  • #11,641
  • Jul 18, 2014 2:28am Jul 18, 2014 2:28am
Quoting NewToForex14
{quote} Udine, I am not talking about previous hour, it is the same hour...the price toched level .400 at 4:03 then went to 173.500 at 4:25... all that in one hour...second hour of London..

in that case the .500 is violation of Rule 2, so no entry

Udine
Sleep less, live fast, as it aint gonna last
  • #11,642
  • Jul 18, 2014 2:38am Jul 18, 2014 2:38am
Quoting Udine
{quote} in that case the .500 is violation of Rule 2, so no entry Udine
just wanted to make sure...

people keep posting trades with violations, it becomes confusing ...sometimes I ask myself , ''why didn't I take that trade, why I missed it''...start question myself if I understood the systems the right way...
maybe right now it is better to stop reading for a while, and just practice...
  • #11,643
  • Jul 18, 2014 2:42am Jul 18, 2014 2:42am
Quoting NewToForex14
{quote} just wanted to make sure... people keep posting trades with violations, it becomes confusing ...sometimes I ask myself , ''why didn't I take that trade, why I missed it''...start question myself if I understood the systems the right way... maybe right now it is better to stop reading for a while, and just practice...
Maybe my understanding of the rule is slightly wrong Udine, can you clear this up, second hr of london price opened at approx 173.435 so the first 00 level with the trend is the .500 level. The first level counter trend is the .400 level. Does it matter that it touched and crossed the .400 level before continuing with the trend and breaking the .500 level? to me Rule 2 applies only to the first level that you would be trading with the trend? I can see how it could be interpreted both ways though...

Edit, after re reading the rule I am fairly sure I am correct we are only talking the first 00 level that you would enter on, its got nothing to do with 00 levels that are counter trend...?
  • #11,644
  • Jul 18, 2014 2:45am Jul 18, 2014 2:45am
Quoting Udine
{quote} nothing Dutch = mother language English and German in school then transferred to Spain without knowing the language.. learned while working there.. and then moved to Italy again without knowing the language, but learned fast enough.. travelled the world for work, so picked up some words here and there.. Udine
Great! Thank you very much for the information )

Quoting Udine
{quote}.. as I paid earlier only 20 % and now 26 % taxes, but she pays around 60 - 65 % taxes... Udine
60-65 % taxes is a really strange thing for the country you had described before.
Let's go with the flow
  • #11,645
  • Jul 18, 2014 2:48am Jul 18, 2014 2:48am
OK guys. I'm off the screen for a long break. That's the main reason I like this Method, not to look at the screen for more then 15 min an hour. Thank you guys for being a great company.
Alec
Look for reasons not to take a trade.
  • #11,646
  • Jul 18, 2014 2:48am Jul 18, 2014 2:48am
Quoting Callum
{quote} Maybe my understanding of the rule is slightly wrong Udine, can you clear this up, second hr of london price opened at approx 173.435 so the first 00 level with the trend is the .500 level. The first level counter trend is the .400 level. Does it matter that it touched and crossed the .400 level before continuing with the trend and breaking the .500 level? to me Rule 2 applies only to the first level that you would be trading with the trend? I can see how it could be interpreted both ways though...
I totally agree with Callum.
If we have to check the counter trend we have to be all the time in front of the screen to follow the price.
  • #11,647
  • Jul 18, 2014 2:50am Jul 18, 2014 2:50am
Quoting artem_t
{quote} 60-65 % taxes is a really strange thing for the country you had described before.
No, it's obvious in a state that needs to manitain privileges for the public employees.. It just spill the blood from the hard workers .
Lrt
"Every battle is won before it's fought."
  • #11,648
  • Jul 18, 2014 2:51am Jul 18, 2014 2:51am
Quoting Callum
{quote} Maybe my understanding of the rule is slightly wrong Udine, can you clear this up, second hr of london price opened at approx 173.435 so the first 00 level with the trend is the .500 level. The first level counter trend is the .400 level. Does it matter that it touched and crossed the .400 level before continuing with the trend and breaking the .500 level? to me Rule 2 applies only to the first level that you would be trading with the trend? I can see how it could be interpreted both ways though... Edit, after re reading the rule I am fairly...

the 00 levels that are counter trend are not of any interest..

Udine
Sleep less, live fast, as it aint gonna last
  • #11,649
  • Edited 3:09am Jul 18, 2014 2:52am | Edited 3:09am
Quoting Carpathian
I am GA SHORT @1.8230 now.
TP +5! Though got almost one pip slippage on the sell-stop when filled so I pushed TP lower to get the 5 pips...
  • #11,650
  • Jul 18, 2014 2:54am Jul 18, 2014 2:54am
Quoting Udine
{quote} the 00 levels that are counter trend are not of any interest.. Udine
ok...then my understanding was wrong...

good thing that I asked, otherwise would be trading the wrong way.
  • #11,651
  • Jul 18, 2014 2:56am Jul 18, 2014 2:56am
Quoting Udine
{quote} the 00 levels that are counter trend are not of any interest.. Udine
Thanks Udine, glad I'm not completely loosing my mind
Tough week this week but apart from the first week I found this method its probably been the biggest amount of growth, learnt some lessons that is for sure... mainly centered around the PDF and BCC like many others have posted
  • #11,652
  • Jul 18, 2014 3:35am Jul 18, 2014 3:35am
Quoting Lrt.Ita
{quote} No, it's obvious in a state that needs to manitain privileges for the public employees.. It just spill the blood from the hard workers . Lrt
Sad, but you are probably right
Let's go with the flow
  • #11,653
  • Jul 18, 2014 3:36am Jul 18, 2014 3:36am
This is really a patience game, isnt it ?
  • #11,654
  • Jul 18, 2014 3:38am Jul 18, 2014 3:38am
Quoting flx69
This is really a patience game, isnt it ?
Are you long in GJ .300?

Lrt
"Every battle is won before it's fought."
  • #11,655
  • Jul 18, 2014 3:41am Jul 18, 2014 3:41am
Quoting flx69
This is really a patience game, isnt it ?
yeah great sniper training..

Udine
Sleep less, live fast, as it aint gonna last
  • #11,656
  • Jul 18, 2014 3:42am Jul 18, 2014 3:42am
Quoting sada69
{quote} Hi, easygoing Yes, I'm also just thinking open oversea acount to allow me higher leverage. For example, I missed the chance to get 5*2 pips at the same time a little while ago... Thank you for your kind advise.
your welcome always... 2% a day and let's become Rich Dads!
My hope has been almost completely shattered, but not completely yet
  • #11,657
  • Jul 18, 2014 3:42am Jul 18, 2014 3:42am
Quoting Lrt.Ita
{quote} Are you long in GJ .300? Lrt
Would you ? And if not so, why not ?
  • #11,658
  • Jul 18, 2014 3:48am Jul 18, 2014 3:48am
Quoting flx69
{quote} Would you ? And if not so, why not ?
I would not. Well you could argue that overall it is an uptrend. However the movement is not nice and clear. I would rather pick @.400.

Choose your battles wisely
  • #11,659
  • Jul 18, 2014 3:51am Jul 18, 2014 3:51am
Quoting flx69
{quote} Would you ? And if not so, why not ?
I would if I did not decide to close here today.
I see market move in the right way, and by sure i would have entered long GJ on .300.
Btw I already got 2 TP today, with half lot size but as this week has gone quite bad I don't want to risk anymore, we are almost 4 hours after london open and recovering from a loss taken now would be quite hard by my little experience (we are also on friday..).
I'm just watching . Loooong time waiting but I see it ended to TP!

Lrt
"Every battle is won before it's fought."
  • #11,660
  • Jul 18, 2014 3:52am Jul 18, 2014 3:52am
Quoting NewToForex14
{quote} just wanted to make sure... people keep posting trades with violations, it becomes confusing ...sometimes I ask myself , ''why didn't I take that trade, why I missed it''...start question myself if I understood the systems the right way... maybe right now it is better to stop reading for a while, and just practice...
Hi New,
Independent thinking is a must for this business. Just my opinion.
Alec
Look for reasons not to take a trade.
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