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As simple as possible: 00 level trading

  • #14,741
  • Jul 31, 2014 4:49am Jul 31, 2014 4:49am
Quoting Udine
{quote} I use the TS always.. My first rule is Capital preservation my second rule is not to forget the first rule... in plenty occasions, the TS saved me from turning a BE trade into a loser, so I dont mind a BE trade at all... for me a BE trade is good, as I did not lose, while risking my money.. and there will be plenty winners in the future.. Udine
Few days ago I took a look on my account history, and i saw that 60% of trades closed out by TS could have ended on TP, and 40% on SL.
Considering the size of loss by SL and the size of profit by TP in a situation like this TS is really preserving the capital in the big run..
I will consider taking it off only when and if (i hope so) the market volatility increases A LOT, but at that stage also the size of TP should change.
By now it is perfectly doing his work.

Lrt
"Every battle is won before it's fought."
  • #14,742
  • Jul 31, 2014 4:52am Jul 31, 2014 4:52am
Quoting Udine
{quote} I use the TS always.. My first rule is Capital preservation my second rule is not to forget the first rule... in plenty occasions, the TS saved me from turning a BE trade into a loser, so I dont mind a BE trade at all... for me a BE trade is good, as I did not lose, while risking my money.. and there will be plenty winners in the future.. Udine
All for your favor! And of course it might help to turn a profitable trade into a loser. You are right. But I do not need TS. Mostly price bounces back for some pip and we are out of the trade only to see, how nice it moves in our direction.

For me counts, if there is a signal it will become a winner. For sure! You want me to show Dashboard from today with signals for the winners?

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #14,743
  • Jul 31, 2014 4:53am Jul 31, 2014 4:53am
Quoting PureHeart
{quote} Hi Udine, if the commission is 0.7pip, i should change the BE level to 0.7? cheers PH

i dont

Udine
Sleep less, live fast, as it aint gonna last
  • #14,744
  • Jul 31, 2014 4:55am Jul 31, 2014 4:55am
Quoting JibalaPasan
{quote} All for your favor! And of course it might help to turn a profitable trade into a loser. You are right. But I do not need TS. Mostly price bounces back for some pip and we are out of the trade only to see, how nice it moves in our direction. For me counts, if there is a signal it will become a winner. For sure! You want me to show Dashboard from today with signals for the winners? Jibala

nahh dont worry.. as long as you feel secure with it.. its all good...

you must trade as you see fit

Udine
Sleep less, live fast, as it aint gonna last
  • #14,745
  • Jul 31, 2014 4:55am Jul 31, 2014 4:55am
Quoting JibalaPasan
You want me to show Dashboard from today with signals for the winners? Jibala
Hi Jibala, can't speak for Udine, but i'm surely interested
Persistence will get it. Consistency will keep it.
  • #14,746
  • Jul 31, 2014 4:59am Jul 31, 2014 4:59am
Quoting Lrt.Ita
{quote} Few days ago I took a look on my account history, and i saw that 60% of trades closed out by TS could have ended on TP, and 40% on SL. Considering the size of loss by SL and the size of profit by TP in a situation like this TS is really preserving the capital in the big run.. I will consider taking it off only when and if (i hope so) the market volatility increases A LOT, but at that stage also the size of TP should change. By now it is perfectly doing his work. Lrt
When I do not use trailing, I do not keep waiting for the price to touch the stoploss. I read the chart and know when I have to close without waiting for the stoploss. I give an opportunity for the price. Only one.

Anyway do what is best recommended Udine, in general. There is plenty of time and trades to reach the daily goal without risking or risking as little as possible.
Donde hay Patron no manda Marinero
  • #14,747
  • Jul 31, 2014 5:01am Jul 31, 2014 5:01am
Quoting Patron
{quote} When I do not use trailing, I do not keep waiting for the price to touch the stoploss. I read the chart and know when I have to close without waiting for the stoploss. I give an opportunity for the price. Only one. Anyway do what is best recommended Udine, in general. There is plenty of time and trades to reach the daily goal without risking or risking as little as possible.
Got it, thanks .

Lrt
"Every battle is won before it's fought."
  • #14,748
  • Jul 31, 2014 5:01am Jul 31, 2014 5:01am
Hi

Anyone took EJ short @.600?
I didn't because I don't feel confident today, however it seems a clear trade but slowly creeping up to SL.
Opinions?

Thanks,
KurZor
  • #14,749
  • Jul 31, 2014 5:01am Jul 31, 2014 5:01am
Quoting Chake
{quote} Hi Jibala, can't speak for Udine, but i'm surely interested
We respect the wish of the TO not to discuss about EA's, indis or other tools.

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #14,750
  • Jul 31, 2014 5:03am Jul 31, 2014 5:03am
I think I began to understand the logic of this strategy. Today, the same deal as in Udine.
GJ 1TP and 1TS


BTW, 2048 =)
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  • #14,751
  • Jul 31, 2014 5:10am Jul 31, 2014 5:10am
Quoting kurzor
Hi Anyone took EJ short @.600? I didn't because I don't feel confident today, however it seems a clear trade but slowly creeping up to SL. Opinions? Thanks, KurZor

if you in the EJ, you were in too early, due to the red eu news you should havewaited until the new hour and there was no entry (yet) at the .600 level

Udine
Sleep less, live fast, as it aint gonna last
  • #14,752
  • Jul 31, 2014 5:15am Jul 31, 2014 5:15am
Quoting Udine
{quote} well done, although your GJ trade was NOt the first 00 level Udine
Question, Master!
I did the same trade on GJ. You mean that it first moved to 173,800 and than went back to 173,700? So its aganist the "first cross" rule? Thanks!
  • #14,753
  • Jul 31, 2014 5:16am Jul 31, 2014 5:16am
Quoting Udine
{quote} if you in the EJ, you were in too early, due to the red eu news you should havewaited until the new hour and there was no entry (yet) at the .600 level Udine

Hi Udine,
Could i ask why this entry was incorrect?

According to rule 8, it is ok in my understanding because the 600 lvl wasn't broken until 30 minutes after the red EUR news.
Thanks
:-)
Wealth comes from what you keep, not what you earn
  • #14,754
  • Jul 31, 2014 5:17am Jul 31, 2014 5:17am
Quoting Udine
{quote} if you in the EJ, you were in too early, due to the red eu news you should havewaited until the new hour and there was no entry (yet) at the .600 level Udine
Thanks!
Reading the rules: no trading < 30 min after red news.
The price at my broker fell below .600 about 44 minutes after the news...
So by strictly reading the rules it would have been a valid trade, wouldn't it?

Sorry, I don't want to be uncomprehending I just want to filter out the bad trades by the rules.

Thanks in advance
  • #14,755
  • Jul 31, 2014 5:19am Jul 31, 2014 5:19am
Quoting trader34
{quote} Hi Udine, Could i ask why this entry was incorrect? According to rule 8, it is ok in my understanding because the 600 lvl wasn't broken until 30 minutes after the red EUR news. Thanks :-)

the entry was technically correct, but I check the charts 5 minutes before the close of the hour, so I set my pendings at the start of the new hour..

I am not watching the charts all day.... I do other things..

Udine
Sleep less, live fast, as it aint gonna last
  • #14,756
  • Jul 31, 2014 5:20am Jul 31, 2014 5:20am
Quoting kurzor
{quote} Thanks! Reading the rules: no trading < 30 min after red news. The price at my broker fell below .600 about 44 minutes after the news... So by strictly reading the rules it would have been a valid trade, wouldn't it? Sorry, I don't want to be uncomprehending I just want to filter out the bad trades by the rules. Thanks in advance

strictly by the rules = correct

Udine
Sleep less, live fast, as it aint gonna last
  • #14,757
  • Jul 31, 2014 5:22am Jul 31, 2014 5:22am
Quoting Udine
{quote} the entry was technically correct, but I check the charts 5 minutes before the close of the hour, so I set my pendings at the start of the new hour.. I am not watching the charts all day.... I do other things.. Udine
Makes sense. Thanks
Wealth comes from what you keep, not what you earn
  • #14,758
  • Jul 31, 2014 5:24am Jul 31, 2014 5:24am
Quoting kurzor
Hi Anyone took EJ short @.600?
Hello Kurzor, te is lenni magyar?
  • #14,759
  • Jul 31, 2014 5:32am Jul 31, 2014 5:32am
Quoting kurzor
Hi Anyone took EJ short @.600? I didn't because I don't feel confident today, however it seems a clear trade but slowly creeping up to SL. Opinions? Thanks, KurZor
Hello People,
EJ SHORT @.600 -- I was also looking at the time with the blue vertical line... however this time for me what I did not like:
(1) Quite a steep attack to .800 beforehand above DO
(2) M15-MA(10) [yellow] still above H1-MA(10) [white]
(3) only 30-some minutes after EUR news
(4) eh...forgot to mention... in the dry hours between LO-NYO
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Áron
ps. Nevertheless I got to the mental stage by now when I feel I am always able to find a reason NOT to take a trade...
  • #14,760
  • Jul 31, 2014 5:33am Jul 31, 2014 5:33am
Quoting kurzor
Hi Anyone took EJ short @.600? I didn't because I don't feel confident today, however it seems a clear trade but slowly creeping up to SL. Opinions? Thanks, KurZor
I have not risked. First rule of Udine. I also hope you correct me if my reasoning misses right, exhibited at the chart.

PD; I see that your question was already answered. Apologies.
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Donde hay Patron no manda Marinero
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