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As simple as possible: 00 level trading

  • #12,641
  • Jul 23, 2014 2:38am Jul 23, 2014 2:38am
Panama mike- is the PhyLevel Dashboard available to post for download? If so would like to have it. Thanks Paul
  • #12,642
  • Jul 23, 2014 2:38am Jul 23, 2014 2:38am
guys/ladies,

remember you need to find the lowest risk trades and you want to stack the odds in your favor....

not sure... stay on the sidelines there will be other opportunities!!

you only need two good trades to get to the daily target.. no need to rush it!!

Udine
Sleep less, live fast, as it aint gonna last
  • #12,643
  • Jul 23, 2014 2:40am Jul 23, 2014 2:40am
Quoting Masterrmind
{quote} That's only part of the reason but as Udine pointed out the fact that Red news was very close by is a good enough reason to hesitate (ie do not trade it) Masterrmind..........
I too thought about coming red news and fake break @173.0 in yesterday's NY session. So I didn't take GJ short.

And I didn't take EJ short either. But I don't know whether that was right decision or not...
  • #12,644
  • Jul 23, 2014 2:43am Jul 23, 2014 2:43am
Quoting Obie45
Hi all, G/J -> -10 When looking to enter are you doing it from the 15M chart or the Hour? Example, on the London open G/J I was watching the 15M and the last 5 out of the last 7 candles where bear so I took the trade. So, when you say look left are you looking back further than the last few candles?
I use hourly charts. I find it easier on the eye when looking for trades. Since NYO yesterday the 173 level has been tested twice but only penetrated by a few pips. The PA is also showing lower highs but higher lows.
News was imminent.
GU was only a few pips into a bearish direction so didnt concur well enough with the trade.

3 mistakes on my part.
  • #12,645
  • Jul 23, 2014 2:45am Jul 23, 2014 2:45am
Quoting plind
Panama mike- is the PhyLevel Dashboard available to post for download? If so would like to have it. Thanks Paul
Click the paper clip at the top of the page. It is already there.
  • #12,646
  • Jul 23, 2014 2:46am Jul 23, 2014 2:46am
EN out by TS.
+1 pip though.
Attached Image (click to enlarge)
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  • #12,647
  • Jul 23, 2014 2:46am Jul 23, 2014 2:46am
Quoting flash4
{quote} MM is that not considered too close to DO?
Not by me it's not.

Here's why........

Entrance level almost 8 pips away from the DO

The chart presents well for a short as PA had already touched as far down as 1.44427 (4 hours prior) and my open price was from the 500 level with a TP at the 450 level.

Plenty of confidence that price would continue pushing away from the DO and hit my price on the way through.

Masterrmind..........
Master your Mind then Master your Trades
  • #12,648
  • Jul 23, 2014 2:47am Jul 23, 2014 2:47am
Goodmorning mastermind, i have sent you a pm. please reply at your convenience. Wish you all green pips
  • #12,649
  • Jul 23, 2014 2:48am Jul 23, 2014 2:48am
Quoting sada69
{quote} I too thought about coming red news and fake break @173.0 in yesterday's NY session. So I didn't take GJ short. And I didn't take EJ short either. But I don't know whether that was right decision or not...
At this stage of the game you made in my opinion the right decision.

If you are not certain of making a trade then that means only 1 thing...............Don't take that trade

Plenty more later.....

Masterrmind...........
Master your Mind then Master your Trades
  • #12,650
  • Jul 23, 2014 2:50am Jul 23, 2014 2:50am
Good Morning Folks,
Due to my recent losses (demo+live) I lost confidence so I was just watching.

I saw the EU has fallen so much yesterday so I thought it may not continue for now. Meanwhile I saw -- EJ, EU, UJ below DO so they're in sync, no red news coming up for them so that is something you could go for. But I also saw that in the past 12 hours EU bounced back from .3460 four times and EJ was also supported by 136.500 making me think it was risky to go for a breakdown of these levels even only for 5 pips.
So right now I am stuck in coping with 'try to trade what I see instead of what I think' cos it is a mind boggling confusion for me to differentiate.

Áron

ps. On the other hand not taking any trade when I don't feel confidence of the setup is a good decision anyways, I know.
  • #12,651
  • Jul 23, 2014 2:50am Jul 23, 2014 2:50am
Quoting Emmpoli
Goodmorning mastermind, i have sent you a pm. please reply at your convenience. Wish you all green pips
Will get to it as soon as I'm free........... bit busy at the moment...........

Masterrmind...........
Master your Mind then Master your Trades
  • #12,652
  • Jul 23, 2014 2:50am Jul 23, 2014 2:50am
EJ is now at the same low level of the beginning of february..

Udine
Sleep less, live fast, as it aint gonna last
  • #12,653
  • Jul 23, 2014 2:53am Jul 23, 2014 2:53am
Udine,

I am thinking of a quality Christmas present to send to you. It seems I received my gift early this year. Ever been to Panama?

Thanks for sharing this system. I love the fact that it takes only a couple of minutes at the top of each hour to analyze, make a decision to trade or not, drop a script on the chart, let it run its course.
  • #12,654
  • Jul 23, 2014 2:55am Jul 23, 2014 2:55am
Hi all, i read this thread from first day. Now I try do next step and try this on live small account. Can somebody post here tpl with basic sit. It will help me to set all on my VPS. Thx in advance.
  • #12,655
  • Jul 23, 2014 2:58am Jul 23, 2014 2:58am
Quoting Udine
EJ is now at the same low level of the beginning of february.. Udine
Yes potentially depressing isn't it?

Masterrmind...........
Master your Mind then Master your Trades
  • #12,656
  • Jul 23, 2014 3:00am Jul 23, 2014 3:00am
pending short EJ 136.400 & EU 1.34500
My hope has been almost completely shattered, but not completely yet
  • #12,657
  • Jul 23, 2014 3:00am Jul 23, 2014 3:00am
Quoting Udine
EJ is now at the same low level of the beginning of february.. Udine
I have that low as 136.226 on the 4th Feb. Not an area thats been tested too often.
  • #12,658
  • Jul 23, 2014 3:00am Jul 23, 2014 3:00am
Quoting Masterrmind
{quote} Yes potentially depressing isn't it? Masterrmind...........
depressing how? breaking out of ranges would be great for trading. Some established trends would be great for this system IMO
  • #12,659
  • Jul 23, 2014 3:01am Jul 23, 2014 3:01am
Quoting panamamike
Udine, I am thinking of a quality Christmas present to send to you. It seems I received my gift early this year. Ever been to Panama? Thanks for sharing this system. I love the fact that it takes only a couple of minutes at the top of each hour to analyze, make a decision to trade or not, drop a script on the chart, let it run its course.

nope never been to Panama...

your welcome

Udine
Sleep less, live fast, as it aint gonna last
  • #12,660
  • Jul 23, 2014 3:01am Jul 23, 2014 3:01am
Quoting Masterrmind
{quote} Don't worry after a few losses (yes I know they hurt!) you will begin to see these things as big as the moon and avoid them most of the time. Masterrmind............
Like everything in life, we have to learn and acquire experience in a hard way , but thanks to DEMO account we can spend virtual money for learning.
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