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As simple as possible: 00 level trading

  • #11,661
  • Jul 18, 2014 5:54am Jul 18, 2014 5:54am
You guys know this song ?

Inserted Video
  • #11,662
  • Jul 18, 2014 5:54am Jul 18, 2014 5:54am
GUYS! especially Udine!

I'm thinking about 2x lots after every loose. what do you think?

Is anybody doing the same?
Stay Hungry Stay Foolish
  • #11,663
  • Jul 18, 2014 5:56am Jul 18, 2014 5:56am
Quoting Nik13
GUYS! especially Udine! I'm thinking about 2x lots after every loose. what do you think? Is anybody doing the same?
I think that's a bad idea. You doubling your risk. If you loose again you have to do 6x lots? That can quickly ruin your account. Especially on bad days with red news. Just take this week as an example!!
  • #11,664
  • Jul 18, 2014 5:57am Jul 18, 2014 5:57am
Quoting Nik13
GUYS! especially Udine! I'm thinking about 2x lots after every loose. what do you think? Is anybody doing the same?

WRONG !!!

Udine
Sleep less, live fast, as it aint gonna last
  • #11,665
  • Jul 18, 2014 5:59am Jul 18, 2014 5:59am
Bonus Trade

#6

GJ +5 TP

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 53 KB


Masterrmind......
Master your Mind then Master your Trades
  • #11,666
  • Jul 18, 2014 6:00am Jul 18, 2014 6:00am
Hello everybody, my first post at this thread.
First of all thank you Udine for sharing this trading method.
I am still learning, so Udine if you can do some clarification, especially about rule #1 and #2.
My english is very awful so here is the pic of how I see today trades of g/j.
Am I missing something?

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  • #11,667
  • Jul 18, 2014 6:01am Jul 18, 2014 6:01am
Currently long EJ from the 100 level.

But EJ as you know is not as keen as GJ is to hit TP.

Masterrmind.............
Master your Mind then Master your Trades
  • #11,668
  • Edited 6:15am Jul 18, 2014 6:01am | Edited 6:15am
Quoting Nik13
GUYS! especially Udine! I'm thinking about 2x lots after every loose. what do you think? Is anybody doing the same?
honestly, I'm doing the opposite... reducing lot size after losses.

If you can win, you don't have to increase your lot size every time you lose because you will win more.

Your strategy will work if the possibility of winning increases after a loss;
is your journal saying so? (Compare your winning rate with your winning rate after a loss)

Capital preservation is the most important and vital thing to survive in this business IMO.
My hope has been almost completely shattered, but not completely yet
  • #11,669
  • Jul 18, 2014 6:03am Jul 18, 2014 6:03am
Quoting Carpathian
{quote} What do you mean by Supply and Demand? How do the blue lines represent them? Thanks
Hi Aron,
Missed your post.
I guess Sam Seiden would be best place to start for that.
Alec
Look for reasons not to take a trade.
  • #11,670
  • Jul 18, 2014 6:06am Jul 18, 2014 6:06am
Quoting Nik13
.......I'm thinking about 2x lots after every loose. what do you think?........
Sounds like you wanna get quick compensation for your losses. That never works.
  • #11,671
  • Jul 18, 2014 6:07am Jul 18, 2014 6:07am
Quoting overseaz
{quote} Hi Aron, Missed your post. I guess Sam Seiden would be best place to start for that. Alec
Thanks, sure, my research must be done separately.
  • #11,672
  • Jul 18, 2014 6:08am Jul 18, 2014 6:08am
Agree - some losses are inevitable. Get over it and move on.
  • #11,673
  • Jul 18, 2014 6:12am Jul 18, 2014 6:12am
Quoting Nik13
GUYS! especially Udine! I'm thinking about 2x lots after every loose. what do you think? Is anybody doing the same?
That's exactly how I lost my first real account when I started:-) Now it's up to you
Look for reasons not to take a trade.
  • #11,674
  • Jul 18, 2014 6:23am Jul 18, 2014 6:23am
Quoting Nik13
GUYS! especially Udine! I'm thinking about 2x lots after every loose. what do you think? Is anybody doing the same?
You like roulette ?
Read and weep...

http://www.forexfactory.com/showthread.php?t=235889
http://en.wikipedia.org/wiki/Martingale_(betting_system)
  • #11,675
  • Jul 18, 2014 6:28am Jul 18, 2014 6:28am
Quoting overseaz
{quote} That's exactly how I lost my first real account when I started:-) Now it's up to you
Same Experience for me.
When we double the lot in stake we double the stress and we lose focus. to resume we start to lose more and more.

I believe that this method is based in discipline and not gambling.
Let stay green and keep in mind the PDF

BilboFX
  • #11,676
  • Jul 18, 2014 6:30am Jul 18, 2014 6:30am
Quoting Masterrmind
Bonus Trade #6 GJ +5 TP {image} Masterrmind......
Hi,

Did you try changing M candle setting to 240 ?

It is not Udine's advice, but I tried back testing it.

Looks like 5 pips in every four hour is there...
Intraday only.
  • #11,677
  • Jul 18, 2014 6:44am Jul 18, 2014 6:44am
Quoting navk
{quote} Hi, Did you try changing M candle setting to 240 ? It is not Udine's advice, but I tried back testing it. Looks like 5 pips in every four hour is there...

If you can get consistent "forward tested" wins (plenty of them) > than using the current M15 chart setup then please share your insight.

Masterrmind........
Master your Mind then Master your Trades
  • #11,678
  • Jul 18, 2014 6:45am Jul 18, 2014 6:45am
@Udine

After you, sir...
  • #11,679
  • Jul 18, 2014 6:47am Jul 18, 2014 6:47am
grass is growing faster than the EJ trade..

2 bonus trades.. EJ & GJ to TP

not really my standard trading..

+4 % for the day... + 8 % for the week

Udine
Attached Image
Sleep less, live fast, as it aint gonna last
  • #11,680
  • Jul 18, 2014 6:48am Jul 18, 2014 6:48am
Bonus trades of the day: EJ and GJ to TP.
Took a while for EJ to get there.


I´m out guys, need to study for tonight´s exam.
Have a good weekend and see you on Monday.
flx69







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