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As simple as possible: 00 level trading

  • #15,281
  • Aug 5, 2014 9:43am Aug 5, 2014 9:43am
Quoting JibalaPasan
Trade #5 NJ & #6 NU TP. {image} {image} Strong signal sell NZD. Jibala
@JibalaPasan

I noticed that you are taking trades with low(ish) ADRs. What is the lowest you traded and is it mostly still a profit with these low ADR figures?

Many thanks
BB
  • #15,282
  • Aug 5, 2014 9:53am Aug 5, 2014 9:53am
Good Night All !

Time for rest.

Good luck to the remaining traders.

Masterrmind...........
Master your Mind then Master your Trades
  • #15,283
  • Aug 5, 2014 9:57am Aug 5, 2014 9:57am
My first day trading this. Mainly to reinforce in my head the rules and to ensure that the EA works (it does - brilliantly )
Traded just EJ and GJ.

Overall wins: 5 Loss: 1 BE: 3

Up 2.4% on the day

I'm UK based so still looking for a decent spreadbetting broker who runs MT4, allows pending orders very close to market price and with spreads as small as some of the ones I'm witnessing from others on this thread. Anyone found one?
  • #15,284
  • Aug 5, 2014 9:58am Aug 5, 2014 9:58am
Quoting Masterrmind
Good Night All ! Time for rest. Good luck to the remaining traders. Masterrmind...........
Same to you and everybody else.
The problem is not giving offence but taking offence!
  • #15,285
  • Aug 5, 2014 9:58am Aug 5, 2014 9:58am
JibalaPasan, you have a PM
  • #15,286
  • Aug 5, 2014 9:58am Aug 5, 2014 9:58am
Quoting bugyibuci
{quote} @JibalaPasan I noticed that you are taking trades with low(ish) ADRs. What is the lowest you traded and is it mostly still a profit with these low ADR figures? Many thanks BB
ADR doesn't really matters! More importance to momentum and strength.

All pairs work for me even with low ADR!

Attached Image


Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #15,287
  • Aug 5, 2014 9:59am Aug 5, 2014 9:59am
Quoting JibalaPasan
{quote} ADR doesn't really matters! More importance to momentum and strength. Jibala
Thanks for the quick response.
  • #15,288
  • Aug 5, 2014 10:00am Aug 5, 2014 10:00am
Hello,
I'm new in this thread and tried your method for the first time today.
At the beginning I like to thank Udine for this thread and nice simple system.

So far I made 4 trades, 3 of them hit the TP and 1 hit the TS. Means 4 winning trades for today.
It's it's quite a nice system so far, but I will demo it a long time untill I will tried it live.

Here are my 4 trades for today, got around 18 pips today, more than enough for one day.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM15.png Size: 72 KB
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM15.png Size: 66 KB
  • #15,289
  • Aug 5, 2014 10:10am Aug 5, 2014 10:10am
Hi guys,

I loaded the ADR & ATR indi but it looks like this (no numbers):
Any idea what I have to amend to make it work?
Many thanks
BB
Attached Image
  • #15,290
  • Aug 5, 2014 10:12am Aug 5, 2014 10:12am
  •  Neio
  • Joined Oct 2012 | Status: Can't think outside?Enlarge the box | 688 Posts
Quoting morph
My first day trading this. Mainly to reinforce in my head the rules and to ensure that the EA works (it does - brilliantly ) Traded just EJ and GJ. Overall wins: 5 Loss: 1 BE: 3 Up 2.4% on the day I'm UK based so still looking for a decent spreadbetting broker who runs MT4, allows pending orders very close to market price and with spreads as small as some of the ones I'm witnessing from others on this thread. Anyone found one?

I know one....I will PM you.
An expert is a man who has made all the mistakes which can be made
  • #15,291
  • Aug 5, 2014 10:35am Aug 5, 2014 10:35am
Quoting Neio
{quote} I know one....I will PM you.
Will you PM me as well? I am happy with my broker so far but i've seen better spreads from charts in here.
  • #15,292
  • Aug 5, 2014 11:27am Aug 5, 2014 11:27am
After a few weeks of trading with this system live, I can conclude that I am horrible at it. In demo it was working nicely (had 20 straight TP`s/BE`s and 1 loss the week prior to going live). Now I`m overtrading, closing orders (even orders that is on its way to TP), doubting myself and dont place trades within the rules (that goes straight to TP, of course).

I have the F, missing the PD in PDF. I read a lot on my vacation about price action, volumes, support/resistance, and I see things more clearly. The balance is just way off, and I`m seeing hammercandles and shooting stars everywhere.

And also, and this surprised me a lot: I get jealous and annoyed seeing all the TP`s in this thread, while watching my trades going the wrong way. The greed is very much present in this one, and is probably the area I need to improve the most. The result of the greed is the above.

That being said, I`m truly impressed with a lot of you, particularly Udine, Masterrmind and Jibala. I will not give up until I master this. I`ll gladly take any tip regarding reading-material, online courses, etc, that can give a better foundation for my trading (100% dedicated, but little experience).

With that, I think I will leave this thread a while and see if that helps regarding the greed. I`m not ready for monitoring more than a few pairs, and should be happy with 1 TP per day. This will be my main goal the rest of august.

I wish you all good luck.
  • #15,293
  • Aug 5, 2014 11:38am Aug 5, 2014 11:38am
  •  Neio
  • Joined Oct 2012 | Status: Can't think outside?Enlarge the box | 688 Posts
Quoting tonyTD
{quote} Will you PM me as well? I am happy with my broker so far but i've seen better spreads from charts in here.
PM sent.
An expert is a man who has made all the mistakes which can be made
  • #15,294
  • Aug 5, 2014 12:34pm Aug 5, 2014 12:34pm
Quoting uselessh
After a few weeks of trading with this system live, I can conclude that I am horrible at it. In demo it was working nicely (had 20 straight TP`s/BE`s and 1 loss the week prior to going live). Now I`m overtrading, closing orders (even orders that is on its way to TP), doubting myself and dont place trades within the rules (that goes straight to TP, of course). I have the F, missing the PD in PDF. I read a lot on my vacation about price action, volumes, support/resistance, and I see things more clearly. The balance is just way off, and I`m seeing...
I am new to this system as well and still learning this new method, however i was price action trader for the past couple of years and i see candlestick patterns and more all the time and i used to mess with trades and lose money. What really improved my trading is that I set the pending order and leave. I go do something else and come back after one hour to see the result, cancel or put a new pending order. Avoid staying in front of the pc and mess up what can be a profitable trade.

Also experienced traders like the ones you mentioned may be watching many paris and find many trades a day. If you or me, less experienced traders try to follow all these pairs we will get confused and will take the wrong trades and lose money. Stick to Udine's four pairs or even less until you get profitable and then add more pairs if you like.
Hope that helps.

Stay Green

Tony
  • #15,295
  • Aug 5, 2014 1:06pm Aug 5, 2014 1:06pm
Quoting tonyTD
{quote} I am new to this system as well and still learning this new method, however i was price action trader for the past couple of years and i see candlestick patterns and more all the time and i used to mess with trades and lose money. What really improved my trading is that I set the pending order and leave. I go do something else and come back after one hour to see the result, cancel or put a new pending order. Avoid staying in front of the pc and mess up what can be a profitable trade. Also experienced traders like the ones you mentioned may...
Thank you for your response and good advice! The one with walking away should be easy for me to follow, since I am at work on Frankfurt, London and New York open.

As a step in the right direction, I`ve simplified the charts some as well as hiding the terminal-window in MT4. I read that by trying to focus on pips only, and not money, the mindset get different. We`re only after 5 pips, it doesnt help knowing how much money that is in the decision-making of the current or the next trade. Makes sense.

Thank you again!
  • #15,296
  • Aug 5, 2014 1:12pm Aug 5, 2014 1:12pm
Hi everyone. Trade on 15M or H1 chart got any different?
  • #15,297
  • Aug 5, 2014 3:38pm Aug 5, 2014 3:38pm
Quoting Neio
{quote} I know one....I will PM you.

Hi,

I also request you to please favour me with the name of a good broker.

Thanks and regards.
  • #15,298
  • Aug 5, 2014 3:43pm Aug 5, 2014 3:43pm
Quoting leonlee0116
Hi everyone. Trade on 15M or H1 chart got any different?
nop
  • #15,299
  • Aug 5, 2014 3:55pm Aug 5, 2014 3:55pm
Quoting minortrader
{quote} Hi, I also request you to please favour me with the name of a good broker. Thanks and regards.
Speaking about spreads and comissions this could be a starting point for Broker choosing :

http://www.myfxbook.com/forex-broker-spreads
  • #15,300
  • Edited 4:35pm Aug 5, 2014 4:21pm | Edited 4:35pm
Quoting bugyibuci
Hi guys, I loaded the ADR & ATR indi but it looks like this (no numbers): Any idea what I have to amend to make it work? Many thanks BB {image}
Hi BB,
Look at the parameter input window and put in correct symbol names (with suffix most likely) of your platform, viz., instead of AUDUSD, put correct names such as AUDUSDm, AUDUSD., etc.
T.
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