As simple as possible: 00 level trading | Page 790 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

SIMPLE EA for a simple method needed!! 2 replies

As simple as possible: RENKO M5 trading 75 replies

Trading is this Simple? Finally Explained simple and clearly! 46 replies

Simple Level Trading 1 reply

Trading: As simple as possible, but no simpler - by a real Cityboy 92 replies

Attachments: As simple as possible: 00 level trading
Exit Attachments

As simple as possible: 00 level trading

  • #15,781
  • Aug 11, 2014 3:59am Aug 11, 2014 3:59am
Quoting Carpathian
{quote} AFAIK MT4 draws charts based on bid price, so with a spread of 1.7 bid was 708 and ask was 715 so a short entry is possible at 700, nevertheless maybe lvl 600 is a better setup, I just made the remark because of the rules. More important that I find the ideas you shared on CSM very useful and important, so thanks for that! And thanks Juan007 for sharing the supreme-meter!
You are right about the bid price in mt4. What I was going to tell price reversed I only could enter with limit order. Since this system doesnt work with limit but stop order, it was placed on 600.

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #15,782
  • Aug 11, 2014 4:07am Aug 11, 2014 4:07am
it was a quick loss
GJ straight to SL
Attached Image (click to enlarge)
Click to Enlarge Name: GJ.jpg Size: 152 KB
  • #15,783
  • Aug 11, 2014 4:15am Aug 11, 2014 4:15am
EURCAD to TS.

Lrt
Attached Image (click to enlarge)
Click to Enlarge Name: 11 08 EC TS.jpg Size: 241 KB
"Every battle is won before it's fought."
  • #15,784
  • Aug 11, 2014 4:20am Aug 11, 2014 4:20am
FYI for any trader that would like a detailed explanation about how to use the ForexProfitSupreme Meter you can find it here;

http://awesomeforexsystem.blogspot.c...system_26.html

Regards,
Cigarguy
Keep It Simple
  • #15,785
  • Aug 11, 2014 4:21am Aug 11, 2014 4:21am
Just been reading the thread of DO NOT trade the 00-lvl strategy...

I implemented a lot from THIS thread into my trading methods on one of my DEMO accounts. Udine clearly states whatever works for you mate! I must say I am not a newbie in trading. Done live and demo trading very intense for a year now. Yes I did my homework. For starters I watched a lot of videos from gurus like Steve Nison about candles/trading, Barry Burns his energies, Freedom Formulas on trending, etc. etc many times. I also know that breakout strategies need a lot of ADR to work. Low ADR for any pair needs reconsidering breakout strategies and reversal might actually be better http://www.forex4noobs.com/forex-blo...-daily-ranges/

The little stat below is from the DEMO account that I started implementing a lot from this thread into for scalping. And yes I still trade aggressively sometimes using a lot of my previous methods on the same DEMO account as well but most of the time I scalp with the 00-lvl respecting most of the rules and trying to keep my 2% (plus bonus) targets. As you can see I started beginning of the quarter implementing and it's up 50% since where it was going down before.

Attached Image


I think this is a thread where a lot of positive ideas come together hence the massive amount of replies. Coders, gurus and newbies alike. BUT beware trading is a learning curve.There is NO silver bullet. But the DO NOT thread is way to negative in my opinion.

Stay Gold and Green
Greetz Survivor
  • #15,786
  • Aug 11, 2014 4:22am Aug 11, 2014 4:22am
Quoting cigarguy
FYI for any trader that would like a detailed explanation about how to use the ForexProfitSupreme Meter you can find it here; http://awesomeforexsystem.blogspot.c...system_26.html Regards, Cigarguy
cigarguy, are you using it? I have been using for 2 weeks but it freezes my mt4. Any idea why? Thanks!
  • #15,787
  • Aug 11, 2014 4:26am Aug 11, 2014 4:26am
Quoting mario777
{quote} cigarguy, are you using it? I have been using for 2 weeks but it freezes my mt4. Any idea why? Thanks!
Yes, finally got it working with my Build 670, it does use a lot of cpu but is now working just fine with no freeze ups. I thank Juan007 for the heads up works well as a pair scanner.

Regards,
Cigarguy
Keep It Simple
  • #15,788
  • Aug 11, 2014 4:29am Aug 11, 2014 4:29am
GBPJPY TS
Attached Image
The problem is not giving offence but taking offence!
  • #15,789
  • Aug 11, 2014 4:31am Aug 11, 2014 4:31am
Quoting Nigor
Also, I look at several indicators of the strength of currencies, it may help to filter the trade. Indicator in the attachment, there is a description, read it carefully. Just want to say that it does not work at all brokers, try .. http://screencast.com/t/9x8gGJSN65 {file}
Thank you for sharing will give it a try.
The problem is not giving offence but taking offence!
  • #15,790
  • Aug 11, 2014 4:32am Aug 11, 2014 4:32am
Quoting cigarguy
{quote} Yes, finally got it working with my Build 670, it does use a lot of cpu but is now working just fine with no freeze ups. I thank Juan007 for the heads up works well as a pair scanner. Regards, Cigarguy
cigarguy, kindly please share your indi here. Mine was downloaded from other website. It maybe the reason. Many Thanks!
  • #15,791
  • Edited 4:46am Aug 11, 2014 4:34am | Edited 4:46am
Quoting mario777
{quote} cigarguy, kindly please share your indi here. Many Thanks!
Just go to the link I provided above downloads are there with explanations on its use. I don't want to distract with too many indi posts here.

Note: Some blogs are selling this indicator for $49.95 but its a free gift from Juan007

Cigarguy
Keep It Simple
  • #15,792
  • Aug 11, 2014 4:35am Aug 11, 2014 4:35am
Quoting cigarguy
{quote} Just go to the link I provided above downloads are there with explanations on its use. Cigarguy
ok. thank you. will try to replace mine.
  • #15,793
  • Aug 11, 2014 5:23am Aug 11, 2014 5:23am
Trade #5 UC TP.

Attached Image (click to enlarge)
Click to Enlarge Name: Ashampoo_Snap_2014.08.11_20h18m17s_011_.png Size: 106 KB


Trade was taken by the mentor! There was no signal even, only by watching the strength meter on chart! Will explain in next post.

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #15,794
  • Aug 11, 2014 5:32am Aug 11, 2014 5:32am
Quoting cigarguy
{quote} Just go to the link I provided above downloads are there with explanations on its use. I don't want to distract with too many indi posts here. Note: Some blogs are selling this indicator for $49.95 but its a free gift from Juan007 Cigarguy
i find it free only free here


http://www.forexisbiz.com/showthread...profit-supreme
  • #15,795
  • Aug 11, 2014 5:32am Aug 11, 2014 5:32am
Quoting JibalaPasan
Trade #5 UC TP. {image} Trade was taken by the mentor! There was no signal even, only by watching the strength meter on chart! Will explain in next post. Jibala
I saw that too late and i put a short on .500.. now waiting but thats against the rules.
I'm ALWAYS too late these days, need to sleep more.

Lrt
"Every battle is won before it's fought."
  • #15,796
  • Aug 11, 2014 5:35am Aug 11, 2014 5:35am
Quoting ericjschroed
{quote} Here you go. {file}
Thanks for this Eric - you've made some great contributions :0)

Do you, or anyone else on here have a position size calculator without visual lines where it works out the calculation out based on the currency of the MT4 account (mine is GBP and a lot are for USD) - and where you have the option to enter a custom balance instead of it using the balance of the account??

There are hundreds of them but I can't find one with the above features together - cheers
  • #15,797
  • Edited 6:10am Aug 11, 2014 5:40am | Edited 6:10am
Quoting JibalaPasan
Trade #5 UC TP. {image} Trade was taken by the mentor! There was no signal even, only by watching the strength meter on chart! Will explain in next post. Jibala
Appears that the reason was; USDCAD -98.7, CAD 8.7 and USD 4.6 The Cad was strong against USD..Good Trade!

Update; You had posted earlier that your guide lines were; As a guideline, what I could see in short, only trade pairs above 80 to 90 / below -90 to -80 and strength also shows equivalent value.

Is that what you are using for your choice of pairs?

Cigarguy
Keep It Simple
  • #15,798
  • Aug 11, 2014 5:53am Aug 11, 2014 5:53am
Quoting Juan007
{quote} i find it free only free here http://www.forexisbiz.com/showthread...profit-supreme
No registration or anything needed here, just download, unzip and go -
http://forexwinners.net/forex/forex-...upreme-system/
The problem is not giving offence but taking offence!
  • #15,799
  • Aug 11, 2014 6:07am Aug 11, 2014 6:07am
I am AUDCAD SHORT @1.0150
  • #15,800
  • Aug 11, 2014 6:08am Aug 11, 2014 6:08am
Just a bit of CSM overkill
Attached Image (click to enlarge)
Click to Enlarge Name: WUKAR_FIFO_00_lvl_CSM.JPG Size: 203 KB

Thank you to all contributors
The problem is not giving offence but taking offence!
6 traders viewing now