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As simple as possible: 00 level trading

  • #12,961
  • Jul 24, 2014 1:56am Jul 24, 2014 1:56am
Quoting Lrt.Ita
"To trade or not to trade, that is the question." W. Shakespeare {image}
Save your capital for better Setups.
  • #12,962
  • Edited 2:19am Jul 24, 2014 2:01am | Edited 2:19am
Quoting jeetvirk
{quote} Save your capital for better Setups.
I think I'll do so..
Tomorrow will be quite like today, but next weeks calendars are almost all green. Patience .

Lrt
"Every battle is won before it's fought."
  • #12,963
  • Jul 24, 2014 2:04am Jul 24, 2014 2:04am
Fairly substantial beat on France PMI...not a huge reaction in EUR pairs at all. Hence why I think their rankings of PMI as red is rather comical. Just my .02
  • #12,964
  • Jul 24, 2014 2:07am Jul 24, 2014 2:07am
In fact...PMI showed expansion (above 50), while estimates were for contraction.....even that surprise barely moved the market at all.

50.4 actual vs 48.2 estimated; 48.2 prior.
  • #12,965
  • Jul 24, 2014 2:08am Jul 24, 2014 2:08am
i dont like choppy action on G currencies...and too many news around
  • #12,966
  • Jul 24, 2014 2:15am Jul 24, 2014 2:15am
Quoting Carpathian
{quote} I had a similar one today with EJ... http://www.forexfactory.com/showthre...31#post7625231 Technically they were by the rules, so I rather see the problem/mistake in picking our choices: PA just wasn't right. Previous hour's candle closed really high, just some fraction pips above the SHORT entry levels we used, so it was too much hope to expect price turn around without using another 10 pips room to get some consolidation that could hint any intention of it going down again. Also if you look GJ went up 35 pips in the...
Momentum. I agree.
Look for reasons not to take a trade.
  • #12,967
  • Jul 24, 2014 2:20am Jul 24, 2014 2:20am
GBPJPY and AUDJPY 2%
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audjpy.PNG Size: 75 KB
Click to Enlarge Name: gbpjpy 2.PNG Size: 82 KB
Donde hay Patron no manda Marinero
  • #12,968
  • Jul 24, 2014 2:21am Jul 24, 2014 2:21am
Jó reggelt/Good Morning all!
I think I am switching to H1 candles for now, too much mess/info on my charts that I was not using anyway.
Of course I know -- when I start changing layouts and colors that's a sign of fatigue and lack of confidence...
Áron
  • #12,969
  • Jul 24, 2014 2:23am Jul 24, 2014 2:23am
Can anyone tell me: What is the name of the indicator that gives a simple white line as the daily open level? Thanks
  • #12,970
  • Jul 24, 2014 2:24am Jul 24, 2014 2:24am
Missed this trade on GJ
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH120140724.png Size: 79 KB
Look for reasons not to take a trade.
  • #12,971
  • Jul 24, 2014 2:28am Jul 24, 2014 2:28am
Quoting overseaz
Missed this trade on GJ {image}
Really? you'd trade that? Look at the previous hourly candle. Was it a winner? Yes. Coin flip at best IMO. I gladly passed on that trade. When risking 2 to get 1, being selective is very important.
  • #12,972
  • Jul 24, 2014 2:30am Jul 24, 2014 2:30am
Quoting sj9bp20
Can anyone tell me: What is the name of the indicator that gives a simple white line as the daily open level? Thanks
Daily Open Line

Udine
Sleep less, live fast, as it aint gonna last
  • #12,973
  • Jul 24, 2014 2:35am Jul 24, 2014 2:35am
Quoting panamamike
{quote} Really? you'd trade that? Look at the previous hourly candle. Was it a winner? Yes. Coin flip at best IMO. I gladly passed on that trade. When risking 2 to get 1, being selective is very important.

and THAT ladies and gentleman, is exactly what i learnt when i looked back at all my failed trades; experience is the best and worst teacher! lol
  • #12,974
  • Jul 24, 2014 2:35am Jul 24, 2014 2:35am
Quoting panamamike
{quote} Really? you'd trade that? Look at the previous hourly candle. Was it a winner? Yes. Coin flip at best IMO. I gladly passed on that trade. When risking 2 to get 1, being selective is very important.
Yeah Alec,
Just remember our trades yesterday that we talked about. Previous H1 momo not stacking the odds in your favour, this one was quite similar.
  • #12,975
  • Jul 24, 2014 2:36am Jul 24, 2014 2:36am
for those trading aud pairs, have to say AU was a pretty good shot.

EDIT: NVM I TAKE BACK AJ! not good one either!
  • #12,976
  • Jul 24, 2014 2:36am Jul 24, 2014 2:36am
I'm outta here...

Slightly different settings on TP and TSL but entries almost the same.

Green Pips to all!
Attached Image
  • #12,977
  • Jul 24, 2014 2:37am Jul 24, 2014 2:37am
Quoting sj9bp20
Can anyone tell me: What is the name of the indicator that gives a simple white line as the daily open level? Thanks
Buenos días familia,

Patiently waiting with a second coffee, to see how all of this is unfolding.

@sj9bp20
In answer to your question: that would be the Grandmaster Flash indi.
It´s all explained here:

Inserted Video


flx69
  • #12,978
  • Jul 24, 2014 2:38am Jul 24, 2014 2:38am
Quoting panamamike
{quote} Really? you'd trade that? Look at the previous hourly candle. Was it a winner? Yes. Coin flip at best IMO. I gladly passed on that trade. When risking 2 to get 1, being selective is very important.
You're right. That trade (GBPJPY) was risky, but it was not against the rules.
Donde hay Patron no manda Marinero
  • #12,979
  • Jul 24, 2014 2:40am Jul 24, 2014 2:40am
Quoting flx69
{quote} Buenos días familia, Patiently waiting with a second coffee, to see how all of this is unfolding. @sj9bp20 In answer to your question: that would be the Grandmaster Flash indi. It´s all explained here: http://www.youtube.com/watch?v=HsTJaP2tC0A flx69
Esto no son horas!
Donde hay Patron no manda Marinero
  • #12,980
  • Jul 24, 2014 2:41am Jul 24, 2014 2:41am
Quoting flx69
{quote} Buenos días familia, Patiently waiting with a second coffee, to see how all of this is unfolding. @sj9bp20 In answer to your question: that would be the Grandmaster Flash indi. It´s all explained here: http://www.youtube.com/watch?v=HsTJaP2tC0A flx69

Thanks for that mate. However I still have a problem. No matter what I do I cannot make it install on my charts.......
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