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As simple as possible: 00 level trading

  • #13,021
  • Jul 24, 2014 3:36am Jul 24, 2014 3:36am
Quoting nitecop
{quote} What I'm saying is following rules is only 50% of trading, the other 50% is seeing what the market is doing and understanding that, this is why an EA would fail while a manual trader would benefit, it will come with time; i suggest comparing all the trades taken by the pros (especially udine) of this forum and compare them with your failed trades and you'll quickly see why they took it.


Udine
Sleep less, live fast, as it aint gonna last
  • #13,022
  • Jul 24, 2014 3:37am Jul 24, 2014 3:37am
Quoting Udine
{quote} I am glad it worked out for you.. but there is a lot more to trading than a few rules... these rules are the basics, then you have to stack the odds into your favor.. try to find the lowest risk entries possible, with the highest probability of profit... and you only need two of those per day the EU had already reached its ADR.. the EJ was near the DO.. could have turned down easily... making the trade a losing one... so why would I risk my money on a not so good entry?? In this case it would have turned into a winner,, so I missed one......
it must be said again and again...
  • #13,023
  • Jul 24, 2014 3:37am Jul 24, 2014 3:37am
Quoting panamamike
{quote} Everyone that is struggling, and even those that are not, should print this post out and re-read it before every trading session. Just my .02
now that would be really smart..

make it part of the pre trading day routine

Udine
Sleep less, live fast, as it aint gonna last
  • #13,024
  • Jul 24, 2014 3:41am Jul 24, 2014 3:41am
Quoting Udine
{quote} I am glad it worked out for you.. but there is a lot more to trading than a few rules... these rules are the basics, then you have to stack the odds into your favor.. try to find the lowest risk entries possible, with the highest probability of profit... and you only need two of those per day the EU had already reached its ADR.. the EJ was near the DO.. could have turned down easily... making the trade a losing one... so why would I risk my money on a not so good entry?? In this case it would have turned into a winner,, so I missed one......
Very interesting Udine.
I only noticed the EU ADR when my pending was already triggered.
In hindsight, this could easily have been a loss, like it was yesterday for many people.

Now, I see that the EJ/EU pairs are a no go for today.
Hopefully youŽll get the pips on GU and GJ !

flx69
  • #13,025
  • Jul 24, 2014 3:44am Jul 24, 2014 3:44am
Yesterday someone asked my "old" charts. Here we go!

Attached Image (click to enlarge)
Click to Enlarge Name: Ashampoo_Snap_2014.07.24_16h39m55s_013_.png Size: 56 KB


Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #13,026
  • Jul 24, 2014 3:47am Jul 24, 2014 3:47am
Quoting JibalaPasan
Yesterday someone asked my "old" charts. Here we go! {image} Jibala


Nice one Jibala ! I prefer the new charts though.

flx69

EDIT:
This wasnŽt the first 00-level cross in the hour, was it ?
  • #13,027
  • Jul 24, 2014 3:48am Jul 24, 2014 3:48am
Trade #2 USDCAD

Attached Image (click to enlarge)
Click to Enlarge Name: Ashampoo_Snap_2014.07.24_16h47m11s_014_.png Size: 68 KB


Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #13,028
  • Jul 24, 2014 3:56am Jul 24, 2014 3:56am
Quoting flx69
{quote} Nice one Jibala ! I prefer the new charts though. flx69 EDIT: This wasnŽt the first 00-level cross in the hour, was it ?
You are right, 600 was first cross but low momentum so no signal. Signal for me was on 700 only!

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #13,029
  • Jul 24, 2014 4:02am Jul 24, 2014 4:02am
slowww day.. i guess the only one i'd take is maybe the gj .70
  • #13,030
  • Jul 24, 2014 4:02am Jul 24, 2014 4:02am
hi all
didnt manage to get online today
looks like only GJ worth a look (if at all)
hope everyone is doing well
  • #13,031
  • Jul 24, 2014 4:07am Jul 24, 2014 4:07am
Also this one on EJ. Signal coming on 800 only! At least I am done for today.

Attached Image (click to enlarge)
Click to Enlarge Name: Ashampoo_Snap_2014.07.24_17h04m29s_015_.png Size: 55 KB


Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #13,032
  • Jul 24, 2014 4:08am Jul 24, 2014 4:08am
Quoting nitecop
slowww day.. i guess the only one i'd take is maybe the gj .70
Slow I wouldn't call.... too fast!
  • #13,033
  • Jul 24, 2014 4:09am Jul 24, 2014 4:09am
Quoting flash4
hi all didnt manage to get online today looks like only GJ worth a look (if at all) hope everyone is doing well
I think most of us are getting very flat hands. I for one have been sitting on mine since FF open. !!!
  • #13,034
  • Jul 24, 2014 4:11am Jul 24, 2014 4:11am
Quoting sj9bp20
{quote} I think most of us are getting very flat hands. I for one have been sitting on mine since FF open. !!!

your not the only one..

do something usefull, go ironing...

Udine
Sleep less, live fast, as it aint gonna last
  • #13,035
  • Jul 24, 2014 4:12am Jul 24, 2014 4:12am
no wonder mastermind took the day off Lol!
  • #13,036
  • Jul 24, 2014 4:12am Jul 24, 2014 4:12am
Quoting Udine
{quote} your not the only one.. do something usefull, go ironing... Udine
Looking for holidays. Looking like 2 weeks in Cancun in September.
  • #13,037
  • Jul 24, 2014 4:12am Jul 24, 2014 4:12am
Quoting Udine
{quote} now that would be really smart.. make it part of the pre trading day routine Udine
Thanks Udine. You are helpful as always. I really appreciate it.
Look for reasons not to take a trade.
  • #13,038
  • Jul 24, 2014 4:13am Jul 24, 2014 4:13am
Quoting Udine
{quote} your not the only one.. do something usefull, go ironing... Udine
I am programming my indi...
  • #13,039
  • Jul 24, 2014 4:15am Jul 24, 2014 4:15am
Quoting JibalaPasan
Also this one on EJ. Signal coming on 800 only! At least I am done for today. {image} Jibala
Mmm, violation of at least 2, if not 3 rules Jibala.
Second 00-level crossing, ADR maxed out and RmUp in red.

What "signal" are you referring to ?

flx69
  • #13,040
  • Jul 24, 2014 4:16am Jul 24, 2014 4:16am
Quoting Carpathian
{quote} I am programming my indi...

lol, now you are making us curious

Udine
Sleep less, live fast, as it aint gonna last
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