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As simple as possible: 00 level trading

  • #15,341
  • Aug 6, 2014 2:27am Aug 6, 2014 2:27am
Quoting Masterrmind
{quote} Several pairs most of the time but only a select few get traded. If the probability is on my side then I may trade 3 at a time ... it all depends on what the charts etc are telling me. Masterrmind............

Right now~
The charts tell me not to trade LO, lol. I expected some retrace from the FO moves.
Seems there was a GJ win, but I'm still glad I was on the sidelines.
I wonder if we had the same read on LO?

Sorry to be a bother. Just trying to learn how you pros think. XD
  • #15,342
  • Aug 6, 2014 2:27am Aug 6, 2014 2:27am
Trades #1 and #2 on the same pair

GJ by 2 to +5 TP

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 56 KB


Comment: 2 trades executed 1 after the other at full position size .... liked the chart set up!

Done for the day !

Masterrmind..........
Master your Mind then Master your Trades
  • #15,343
  • Aug 6, 2014 2:38am Aug 6, 2014 2:38am
Quoting Masterrmind
Trades #1 and #2 on the same pair GJ by 2 to +5 TP {image} Comment: 2 trades executed 1 after the other at full position size .... liked the chart set up! Done for the day ! Masterrmind..........
nice job!


Greetz Michael
  • #15,344
  • Aug 6, 2014 2:39am Aug 6, 2014 2:39am
Quoting Masterrmind
Trades #1 and #2 on the same pair GJ by 2 to +5 TP {image} Comment: 2 trades executed 1 after the other at full position size .... liked the chart set up! Done for the day ! Masterrmind..........
Nice!!

Unfortunately i was in GU short from the previous hour and didn't take the GJ.
  • #15,345
  • Aug 6, 2014 2:39am Aug 6, 2014 2:39am
Be aware trading this now...
Attached Image (click to enlarge)
Click to Enlarge Name: Reason5.png Size: 29 KB
  • #15,346
  • Aug 6, 2014 2:42am Aug 6, 2014 2:42am
Quoting whitetrading
{quote} Right now~ The charts tell me not to trade LO, lol. I expected some retrace from the FO moves. Seems there was a GJ win, but I'm still glad I was on the sidelines. I wonder if we had the same read on LO? Sorry to be a bother. Just trying to learn how you pros think. XD
You are never a bother so don't worry about asking a question.

Just remember that we were all where you are now when we first started out and so I know how you feel to some extent.

It's all about learning the right things and more importantly applying them correctly.

It simply takes time mixed with the right experience.

I wish you success !

Masterrmind...........
Master your Mind then Master your Trades
  • #15,347
  • Aug 6, 2014 2:43am Aug 6, 2014 2:43am
Quoting Jysticim
Be aware trading this now... {image}
I am not sure what your reason is to be aware. the low of that "reversal" candle has already been taken out. Regardless, red news within 60 minutes, so no trading GBP pairs. FWIW, there may very well be some profit taking and short covering prior to news.
  • #15,348
  • Aug 6, 2014 2:49am Aug 6, 2014 2:49am
I've got a question. I got stuck in GU short 1.68600 since FO. If the trade is still open until the news do i close the trade manually at a partial loss or leave it open and whatever happens?
  • #15,349
  • Aug 6, 2014 2:53am Aug 6, 2014 2:53am
EJ +4,5 closed manually as TS is not working((
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYH1.png Size: 53 KB
  • #15,350
  • Aug 6, 2014 2:54am Aug 6, 2014 2:54am
Quoting tonyTD
I've got a question. I got stuck in GU short 1.68600 since FO. If the trade is still open until the news do i close the trade manually at a partial loss or leave it open and whatever happens?
Its your money. By what you wrote, do you believe the odds of success are in your favor?
  • #15,351
  • Aug 6, 2014 2:55am Aug 6, 2014 2:55am
Quoting Masterrmind
Trades #1 and #2 on the same pair GJ by 2 to +5 TP {image} Comment: 2 trades executed 1 after the other at full position size .... liked the chart set up! Done for the day ! Masterrmind..........
Compliments Master, but the rules don't say 1 trade per hour per pair ?
Porta itineris dicitur longissima esse
  • #15,352
  • Aug 6, 2014 2:56am Aug 6, 2014 2:56am
Quoting toppo qqq
{quote} 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.
Hi Toppo,

Did you mean like this?:
It didn't change anything....any other ideas what I could amend?
Thanks
BB
Attached Image
  • #15,353
  • Aug 6, 2014 3:05am Aug 6, 2014 3:05am
Quoting Jysticim
Be aware trading this now... {image}
Hi Jysticim,
Personally I stick with 4 main pairs, but chart is a chart.
I like to learn and extend my trading skills, but I don't see what you're trying to show on the chart. Please explain what exactly you trying to say.
Thanks in advance.
Alec
Look for reasons not to take a trade.
  • #15,354
  • Aug 6, 2014 3:06am Aug 6, 2014 3:06am
Quoting JibalaPasan
If you stick to the rules it would be a valid entry. But I'd never taken! Look at the chart and guess why? Additional the strength of both pairs is almost equal, you need a long breath and might be not enough to TP. {image} Jibala
Are you using a currency strength meter to determine the strength?
  • #15,355
  • Aug 6, 2014 3:09am Aug 6, 2014 3:09am
Quoting bubincka
{quote} Compliments Master, but the rules don't say 1 trade per hour per pair ?
Yes rule #20 - 1 trade per hour per pair.

So if a trader opened half position size but then almost at the same time entered a second position to have a full position size then this would be a breach, even though in the end it's the same as trading the pair at full position size in the 1 entry.

In other words what if my "normal" trade was 20 lots but on this occasion I traded 10 lots for the first entry then immediately entered a second trade also at 10 lots would this constitute a breach of Rule #20?

Maybe so but I'd like to think that I get to choose my overall position size.

Interesting food for thought!

All the best,

Masterrmind...........
Master your Mind then Master your Trades
  • #15,356
  • Aug 6, 2014 3:11am Aug 6, 2014 3:11am
GJ +5 and GA +5 done for today
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPJPYH1 6.8.14_2.png Size: 58 KB
Click to Enlarge Name: GBPAUDH1 6.8.14_1.png Size: 57 KB
  • #15,357
  • Edited 3:47am Aug 6, 2014 3:22am | Edited 3:47am
Quoting jeetvirk
GJ +5 and GA +5 done for today {image} {image}
Well Done for the profit !

EDIT: But as pointed out Red News.....

Masterrmind............
Master your Mind then Master your Trades
  • #15,358
  • Aug 6, 2014 3:27am Aug 6, 2014 3:27am
Quoting jeetvirk
GJ +5 and GA +5 done for today {image} {image}
Hi,

Wasn't this against the rule of not trading an hour before a red news (Manufacturing Production m/m @9:30am)?
Sorry, I am just trying to understand the rules correctly .
Thanks
BB
  • #15,359
  • Aug 6, 2014 3:30am Aug 6, 2014 3:30am
Quoting bugyibuci
{quote} Hi, Wasn't this against the rule of not trading an hour before a red news (Manufacturing Production m/m @9:30am)? Sorry, I am just trying to understand the rules correctly . Thanks BB

Look at chart. His trade was from LO open.
And another before FF.
  • #15,360
  • Aug 6, 2014 3:31am Aug 6, 2014 3:31am
Quoting jeetvirk
GJ +5 and GA +5 done for today {image} {image}

I think your first GA position is a stop lost.Didn't it ?
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