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As simple as possible: 00 level trading

  • #14,481
  • Edited 5:58am Jul 30, 2014 5:23am | Edited 5:58am
Quoting Patron
{quote} Patterns {image}
Patron,
Thank you for this....

I took this short also. Usd was very strong against the GBP at the time and i thought it was a good trade. I was in a hurry and never checked the volume or saw that it was close to Daily lows from june. I still was not sure what went wrong until your post. so Thank you for teaching me this morning.

EDIT: And i should know better...
  • #14,482
  • Jul 30, 2014 5:24am Jul 30, 2014 5:24am
Quoting Udine
{quote} have you read my post of early this morning ???? http://www.forexfactory.com/showthre...09#post7638809
Yes and i completely agree. I've also mentioned this in my previous post. Just to clarify this for me: you won't trade at all until market will wake up?
  • #14,483
  • Jul 30, 2014 5:25am Jul 30, 2014 5:25am
Quoting Patron
Bye. I'm going to the kitchen.
Please keep my plate warm, its almost time for dinner here!

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #14,484
  • Jul 30, 2014 5:25am Jul 30, 2014 5:25am
Quoting Udine
several hours have past since London open.. the ATR of today {image} how many times I have told to LOOK FOR REASONS NOT TO TRADE ???? AND HOW MANY OF YOU HAVE ACTUALLY DONE THAT ??? Udine
So ADR and ATR should be close to go for trade
  • #14,485
  • Jul 30, 2014 5:27am Jul 30, 2014 5:27am
Trade #2 o/t day: GA to TP.
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  • #14,486
  • Jul 30, 2014 5:27am Jul 30, 2014 5:27am
Quoting Udine
{quote} You guys ALL miss an important factor in all of this... low volatility and ADR's... this makes trading much more difficult than trading during times with high volatility and ADR's PJ9999 " that there was extra criteria to picking and selecting trades,and what annoys me is why these extra criteria s were not made clear at the start.." when I started trading this the volatility and ADR's were higher, but the market has changed... so you need to adapt, or you will become extinct like the dinosaures....and that is where experience comes in to...
i did not read it because it was too early in the morning...but absolutely true!

and the best is to trade nothing for me till the end of summertime or ADR s are higher...
  • #14,487
  • Jul 30, 2014 5:29am Jul 30, 2014 5:29am
caught this one GA +5 TP
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  • #14,488
  • Jul 30, 2014 5:29am Jul 30, 2014 5:29am
Quoting Udine
several hours have past since London open.. the ATR of today {image} how many times I have told to LOOK FOR REASONS NOT TO TRADE ???? AND HOW MANY OF YOU HAVE ACTUALLY DONE THAT ??? Udine
me am not joining the party till september
  • #14,489
  • Jul 30, 2014 5:30am Jul 30, 2014 5:30am
Quoting messiahua
{quote} Yes and i completely agree. I've also mentioned this in my previous post. Just to clarify this for me: you won't trade at all until market will wake up?
you must have noticed that I picked up one trade this morning, and the rest on the sidelines...

what do you need for trading??

a trend... no trend = no trading... = simple

stop shooting at everything that moves a pip

Udine
Sleep less, live fast, as it aint gonna last
  • #14,490
  • Jul 30, 2014 5:30am Jul 30, 2014 5:30am
& this one is real patience game AU TP
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  • #14,491
  • Jul 30, 2014 5:32am Jul 30, 2014 5:32am
Is it safe to go for 173.20 GJ
  • #14,492
  • Jul 30, 2014 5:34am Jul 30, 2014 5:34am
Quoting ravitelang
& this one is real patience game AU TP {image}


Trade #3 AU TP.

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Seems all is wating on US news.

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #14,493
  • Jul 30, 2014 5:34am Jul 30, 2014 5:34am
Trade #2

EJ +5 TP

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Masterrmind............
Master your Mind then Master your Trades
  • #14,494
  • Jul 30, 2014 5:43am Jul 30, 2014 5:43am
Quoting Patron
{quote} Patterns {image}
.... or oversold. It was quite below 30.
Attached Image

It is on my list to check RSI as a factor to help pick battles wisely. But I just forgot.
It's only that now I am still sitting in this GU SHORT is that I put SL couple pips on the other side of 00 lvl. Nevertheless that is not someting to take as advice cos in the long term that may not help when looking at your R/R. It is just how I do it so I am still on. The point here is if I am focused enough to do my own checklist properly I'd have had a reason not to enter.
  • #14,495
  • Jul 30, 2014 5:46am Jul 30, 2014 5:46am
GJ out by TS.
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  • #14,496
  • Jul 30, 2014 5:47am Jul 30, 2014 5:47am
Quoting ravitelang
Is it safe to go for 173.20 GJ
Hmmmm...........that is the million dollar question I guess.

I did not take it, but thought about it ........then declined.

Good luck if you are in that trade though.

EDIT: it's very close to TP so anyone in it should be feeling ok or most likely out by TS!

Masterrmind............
Master your Mind then Master your Trades
  • #14,497
  • Jul 30, 2014 5:48am Jul 30, 2014 5:48am
Ok, I tap out and listen to the master, I am comitted to trading the 4 pairs udine does, and if we look for a reason not to trade then the current ADR on all of em is enough reason alone. Hence this is my trading platform until we see better numbers:

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  • #14,498
  • Jul 30, 2014 5:57am Jul 30, 2014 5:57am
Next hour opportunities EJ long 137.10 & GJ long 173.30
or better to stop as red after 1.25 hours
  • #14,499
  • Jul 30, 2014 5:59am Jul 30, 2014 5:59am
Quoting Callum
Ok, I tap out and listen to the master, I am comitted to trading the 4 pairs udine does, and if we look for a reason not to trade then the current ADR on all of em is enough reason alone. Hence this is my trading platform until we see better numbers: {image}
That's up to you but if you are trading that setup it's completely different to what we are trading.

All the best with it though.....

Masterrmind............
Master your Mind then Master your Trades
  • #14,500
  • Jul 30, 2014 6:06am Jul 30, 2014 6:06am
Udine it was earlier in the day..Can you comment on it please
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