DON'T trade Udine's 00 level Strategy | Page 3 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Don't do what Donny Don't does 52 replies

My GBPJPY Trading Journal - Trading from level to level 23 replies

Udine 00 EA journal 77 replies

"Level on Level": explanation please 0 replies

Stop loss level dependant on risk level? 2 replies

Attachments: DON'T trade Udine's 00 level Strategy
Exit Attachments

DON'T trade Udine's 00 level Strategy

  • #41
  • Aug 7, 2014 10:44am Aug 7, 2014 10:44am
Quoting FxMasterGuru
{quote} "But if you think over the long haul, an EA will make you rich? Show me one." Please see above. It is only the showcase account. The real monies are brewing on much larger accounts...
Cool, give us the Myfxbook link so we can see it trading live right now.

Wait for it folks..........
Ghost Rider - WWTBMD?
  • #42
  • Aug 7, 2014 10:47am Aug 7, 2014 10:47am
i think this type of thread/post is not good for FF .it is so cheap and mean minded post.one is trying to help deliver/supply/give something you have every right to to take or not take ...it is up to you.he is not pointing loaded gun to your/anybody 's head.
I THINK MOD/ADMIN SHOULD TAKE CARE IT.i love this forum very much and all bros/sis trying hard to help/support others ....share and care
Say something meaningful or Silence!!
  • #43
  • Aug 7, 2014 10:48am Aug 7, 2014 10:48am
[quote=albchr;7658702]{quote} I am currently testing 3 EA's. All of them based on the "rules" of how I trade manually. They do a very good job "for the most part" but they cannot, and never will be able to see things like data prints, market sentiment and a whole host of other variables that only a "discretionary eye" can see coming ahead of time. Last week's data prints sent the EA's into a tail spin rapidly. I did just fine manually. An EA left to it's own devices will do fine so long as market conditions do not change from it's If/Then logic.

Very true...having used EA's frequently i am yet to see any that are immune to things like news events, gaps, slippage, re-quotes, hanging platforms etc.

EA's are good at executing ideas, but they rely on market conditions being constant, which is never the case.

FxMasterGuru....if your EA's are immune, then please feel free to share the principles. But i must say, if the word martingale appears, my conclusions will already be drawn...been there done that, seen the account devastation!
Wealth comes from what you keep, not what you earn
  • #44
  • Aug 7, 2014 10:49am Aug 7, 2014 10:49am
Quoting albchr
{quote} Cool, give us the Myfxbook link so we can see it trading live right now. Wait for it folks..........

Wealth comes from what you keep, not what you earn
  • #45
  • Aug 7, 2014 11:03am Aug 7, 2014 11:03am
Quoting trader34
{quote}
Ghost Rider - WWTBMD?
  • #46
  • Aug 7, 2014 11:06am Aug 7, 2014 11:06am
Quoting FxMasterGuru
{quote} @albchr Honestly, Udine should have mentioned at the beginning of this thread: "Caution! It is a loser strategy. BUT, with appropriate discretionary input, you can profit from it". But he did not, so his comments about doubling his account twice using this strategy was simply MISLEADING. Why? Because using significant discretionary input, that is not the same strategy. Capice...?? Come on! With appropriate discretionary input I can make any FlipCoin strategy profitable. Bottom line: the entire Level00 strategy (rules only) = flipping a coin....
Well done mate,I totally agree
  • #47
  • Aug 7, 2014 11:24am Aug 7, 2014 11:24am
ALSO to make things worse is the claim that low volatility may be the problem for poor trades over the last month.....Trade the Dax =very high volatility and spread 1 pip

However the 00 strategy would wipe your account out in 4 weeks....
  • #48
  • Aug 7, 2014 11:39am Aug 7, 2014 11:39am
Good afternoon, I have followed the strategy Udine 00. I'm studying the possibility of putting another critperio, another rule in this system. Follow along as the D1 candle closed the previous day. D1 red candle closed, only entering the rule of Udine in 000 chances SELL. D1 blue candle closed, only enter the rule in Udine 000 BUY possibilities.
Another thing changing levels of sweet spots indicator for gold 5 on 5 instead of 10 to 10.
We can put a risk reward of 10 pips stop and Tp of 15/20 pips with 08 pips of Ts for example. but I think that following the previous candle d1 is a good idea.

D1 candle closed above + 000 Udine
  • #49
  • Aug 7, 2014 11:41am Aug 7, 2014 11:41am
Quoting pj9999
ALSO to make things worse is the claim that low volatility may be the problem for poor trades over the last month.....Trade the Dax =very high volatility and spread 1 pip However the 00 strategy would wipe your account out in 4 weeks....
I think you should let it rest now. I'm pretty sure we've seen what Mr. Guru's claims are made of. First legit challenge to his EA and he's gone. Spewing hate over something you don't understand won't do any good for anybody.

Quoting albchr
{quote} Cool, give us the Myfxbook link so we can see it trading live right now. Wait for it folks..........
Still waiting for the live link to this EA Mr. Guru. You know, so the new folks here can see it in action?

I agree with Classy above. This thread serves no purpose and at best, should be in the commercial section where Mr. Guru can peddle his snake oil.

Folks, new traders, please try to be careful with what you read in these forms. I've seen it a thousand times and I'll always try to see if it's real or not. Maybe it is, maybe not. Only one way to find out...eh?

Until we get the Myfxbook link to that EA? All I'll say is....

Inserted Video
Ghost Rider - WWTBMD?
  • #50
  • Edited 11:58am Aug 7, 2014 11:48am | Edited 11:58am
Quoting pj9999
{quote} Well done mate,I totally agree
Anyone that has studied forex for long enough will tell you that the basis of his system is solid, it is trend trading.
Daily down, hourly down then enter following the trend.
If the trade fails, then quite simply, it has run into support/resistance before the target was reached.
So the solution is simple, look left on the screen to see what you may run into before you enter.

Trade 1 failed because it met strong previous resistance.

Trade 2 was a winner, because support was taken out (broken) by a strong down candle that almost hit the take profit in the same candle.
Entry on this candle had a much higher chance of success.
Learn about support / resistance , supply / demand and price action, and you will start to see the bigger picture.
Attached Image (click to enlarge)
Click to Enlarge Name: MetaTrader - Alpari UK.png Size: 97 KB
  • #51
  • Aug 7, 2014 12:01pm Aug 7, 2014 12:01pm
Quoting trader34
{quote}
1. I guess, no broker charges "interest" on DEMO accounts, so it helps to clear up whether it is a real or demo account...

2. I am not selling anything. The picture was shown just as a supporting "exhibit". I am happy if it makes me rich and I don't care about anybody else's financial freedom.

3. I can give a private link of my own account to interested parties in PM, but only without revealing the trade log. Nevertheless, the link will not show much more info than seen already on the picture. Why would I not reveal trade history...? I am sure there are some smart people out there who could "reverse engineer" it within a few days. And frankly, that is the last I would like.

4. Summer months' statistics are enclosed (fresh screenshot) as someone was asking for it.
Attached Image (click to enlarge)
Click to Enlarge Name: Master EA_June_July_August.jpg Size: 140 KB
  • #52
  • Aug 7, 2014 12:22pm Aug 7, 2014 12:22pm
Quoting pj9999
{quote} why are you profitable using his system?unless you have tried it or profitably using it you need not bother expressing your opinion......
I don't trade his system. When a system doesn't work for me I don't go around opening threads and bitching. Move on and learn something else. This is Forex, its not meant to be easy
trading on demo is not trading
  • #53
  • Aug 7, 2014 12:36pm Aug 7, 2014 12:36pm
Quoting enzo2325
{quote} I don't trade his system. When a system doesn't work for me I don't go around opening threads and bitching. Move on and learn something else. This is Forex, its not meant to be easy
You are right. I should have done that, too.

Nevertheless, I think its one's obligation to save others from losing much time by following "discretionary" strategies while THINKING that they were learning RULE BASED strategies. Of course, Udine has not asked money for his invention, but his ommission has made people to lose something more precious (which cannot be replaced, unlike money): and that is TIME.

On the first page of Level00 it should have been mentioned that the RULES were only a BASIS for a DISCRETIONARY strategy.
  • #54
  • Edited 1:54pm Aug 7, 2014 12:55pm | Edited 1:54pm
Quoting FxMasterGuru
{quote} Why would I not reveal trade history...? I am sure there are some smart people out there who could "reverse engineer" it within a few days. And frankly, that is the last I would like. {image}

Or you just want to hide that 50% floating loss. You should get rid of that EA or whatever it is.

Not to mention deposit, withdrawals, profit and balance have a well defined relationship. But not on your screenshots. Your numbers seem to be modified.
  • #55
  • Aug 7, 2014 1:07pm Aug 7, 2014 1:07pm
Quoting FxMasterGuru
{quote} You are right. I should have done that, too. Nevertheless, I think its one's obligation to save others from losing much time by following "discretionary" strategies while THINKING that they were learning RULE BASED strategies. Of course, Udine has not asked money for his invention, but his ommission has made people to lose something more precious (which cannot be replaced, unlike money): and that is TIME. On the first page of Level00 it should have been mentioned that the RULES were only a BASIS for a DISCRETIONARY strategy.
Again i agree,
Started this tread to enlighten people that trading udines system according to his rules on page one will result in a negative account,
Udines first page should have read...
THIS STRATEGY WILL RESULT IN 80+% OF TRADERS LOSING THERE ACCOUNT IF THEY JUST FOLLOW THE RULES HOWEVER A HIGHER NUMBER OF PEOPLE MAY ACHIEVE PROFITS WITH TIME EXPERIENCE
  • #56
  • Aug 7, 2014 1:15pm Aug 7, 2014 1:15pm
Quoting FxMasterGuru
{quote} 1. I guess, no broker charges "interest" on DEMO accounts, so it helps to clear up whether it is a real or demo account... 2. I am not selling anything. The picture was shown just as a supporting "exhibit". I am happy if it makes me rich and I don't care about anybody else's financial freedom. 3. I can give a private link of my own account to interested parties in PM, but only without revealing the trade log. Nevertheless, the link will not show much more info than seen already on the picture. Why would I not reveal trade history...? I am...
So let me see If I understand you here.

1) It's a live account? Your "exhibit" doesn't show that.

2) You're not selling anything yet you feel the need to show a "partial" exhibit of it?

3) You can give access to interested parties via PM but it won't show the trade log (history) of the account?

4) Your "Exhibit" is not up to date (even this newer one here). Why? What are you hiding? You can take a "non access" screen shot right up to today...no?

5) You don't care about anybody else's financial freedom yet you feel it's your obligation to protect other's from another's system? ... WHAT?? LOL

6) You have a problem with somebody showing a MANUAL system they use that, by any measure of common sense, takes some "trader discretion" but because that wasn't actually said you create a hate thread to trash the man? What "Manual" trading system DOESN'T require discretion??

Does that about sum things up?

Oh yes, I do believe Twee is going to be most interested in you.
Ghost Rider - WWTBMD?
  • #57
  • Aug 7, 2014 1:29pm Aug 7, 2014 1:29pm
Quoting albchr
{quote} So let me see If I understand you here. 1) It's a live account? Your "exhibit" doesn't show that. 2) You're not selling anything yet you feel the need to show a "partial" exhibit of it? 3) You can give access to interested parties via PM but it won't show the trade log (history) of the account? 4) Your "Exhibit" is not up to date (even this newer one here). Why? What are you hiding? You can take a "non access" screen shot right up to today...no? 5) You don't care about anybody else's financial freedom yet you feel it's your obligation to...
Well said.
I love a good roasting.
  • #58
  • Aug 7, 2014 2:30pm Aug 7, 2014 2:30pm
I guess, enough said. Anybody who has taken the time to read this thread got his fair warning by PJ9999 and me.

For the rest: Good Luck with Level00 BS...!
  • #59
  • Aug 7, 2014 2:31pm Aug 7, 2014 2:31pm
Ok, here's a trade log. It's very different to how I usually trade which is S&D and S&R on higher timeframes. That is at times painfully slow and boring, but I do it as it is profitable. I tried this out of boredom. There were a few things I didn't use, the up/down red/green meter (I'd rather use my eyes than to sit and watch traffic lights), the R:R was unacceptable to me, I don't like TS and only sometimes do I use BE.

I stopped the test because it was becoming clear to me that a 10 pip SL is insufficient. LO is volatile. I don't know how best to manage a trade, but fundamentally the concept is probably sound if you apply a few PA basics.
Attached Image (click to enlarge)
Click to Enlarge Name: 00 level.JPG Size: 180 KB
  • #60
  • Aug 7, 2014 3:00pm Aug 7, 2014 3:00pm
was browsing around and saw this and thought it was pretty funny and kind of applied since furus claiming to be awesome but not showing results was brought up(no one in particular)
Attached Image
Luck is what happens when preparation meets opportunity
0 traders viewing now