As simple as possible: 00 level trading | Page 802 | 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

  • #16,021
  • Aug 13, 2014 4:39am Aug 13, 2014 4:39am
Trade #3

NZDUSD +5 TP

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 52 KB


Comment: Nice reversal down after rejection of the DO!

Masterrmind........
Master your Mind then Master your Trades
  • #16,022
  • Aug 13, 2014 4:54am Aug 13, 2014 4:54am
Quoting Masterrmind
{quote} Indicators that are lagging have been condemned by Udine in this thread. The CSM are not lagging as such. Red News on the other hand is completely against the principles of this trading strategy as clearly outlined in Post #1. Very good idea to start ones own thread. I salute that idea! Masterrmind...........
Let's keep on track - CSM meters are not a traditional indicator so much as extra guidance when looking for correlation between the pairs
  • #16,023
  • Aug 13, 2014 5:00am Aug 13, 2014 5:00am
Hi all

At the risk of currency strength indicator overload, here's one for people that like a bar display. I only have the ex4 file. No mql file, so cant see how it calculates the values.
The values are quite a bit different from the ForexProfit Supreme Meter.

The nice difference is that it has two strengths for each currency. As mentioned, I don't know how it works, but it seems like the thick (bottom) bars are the strengths for the Daily TF and the narrower (top) bars are the strengths for the chart period. (They show the same values on the Daily TF).

As has been suggested by various people here, i dont advocate relying only on the CSM indi's to make trade decisions. For me, the CSM's are a useful tool to give a head's up of what could be likely pairs to trade. Due consideration must be given to other factors such as PA, SR, trend, etc. You must find what works for you.

Axiom
Attached Image
Attached File(s)
File Type: ex4 CurrencyPowerMeter.ex4   34 KB | 510 downloads
  • #16,024
  • Aug 13, 2014 5:18am Aug 13, 2014 5:18am
Quoting Axiom
{quote} Fantastic! Changed Display setting to 100% and voila! Indi fixed! What a wealth of knowledge and goodwill that exists amongst this thread's participants! Thanks so much gopips. Axiom
Are you saying that you changed your web browser setting or an mt4 setting?
  • #16,025
  • Aug 13, 2014 5:21am Aug 13, 2014 5:21am
Quoting silversurfer
{quote} Are you saying that you changed your web browser setting or an mt4 setting?
Hi silversurfer

What you have to do is:

Right click on your desktop.
Click "Personalize"
Click "Display"
Select the "Smaller (100%)" option.
Click "Apply".
Log off.
Log in again.

Regards
Axiom
  • #16,026
  • Aug 13, 2014 6:13am Aug 13, 2014 6:13am
Thx all I need now is an optometrist - didn't realise my eyes were this bad!
  • #16,027
  • Aug 13, 2014 6:22am Aug 13, 2014 6:22am
Quoting Masterrmind
Trade #5 NZDJPY out by TS (+1) {image} Comment: 1.1 pips beyond TP and yet it still goes out by TS. Let's call it spread @ the time shall we! Very very close! Masterrmind...........
Hi, MM .... wonder what was the idea of talking this trade? No clear trend, no significant bounce, two hours from US open, so not a good time for this pair, small ADR, ATR is more than ADR...
Thanks
  • #16,028
  • Aug 13, 2014 6:30am Aug 13, 2014 6:30am
Quoting bubincka
EU TP. Again full agreement with FSP as per Jibala explanations. Thank you. {image}
Good day friend Bubincka you could tell me how to set up the FSM indicator only with EURUSD, GBPUSD, EURJPY and GBPJPY pairs? Thank you very much.
  • #16,029
  • Aug 13, 2014 6:49am Aug 13, 2014 6:49am
Quoting Fenderman
{quote} Hi, MM .... wonder what was the idea of talking this trade? No clear trend, no significant bounce, two hours from US open, so not a good time for this pair, small ADR, ATR is more than ADR... Thanks
Just for clarity here is what I saw !

ADR around the 50 mark and under these current market conditions good enough for me to trade it
D1 down and PA well below the open (ie not hugging it)
Convincing bounce up off monthly support level @ 86.130 in the previous hour.
Start of the new hour very convincing rejection of the 300 level, precisely where my pending SL would be placed
Good movement down to get me into the trade @ 200 level and into a TP area that had already been tested.

ps. the fact that it's 2 hours out from NY open matters little to me!

Hope that helps.

Masterrmind..........
Master your Mind then Master your Trades
  • #16,030
  • Aug 13, 2014 7:11am Aug 13, 2014 7:11am
Quoting Robinho
{quote} Good day friend Bubincka you could tell me how to set up the FSM indicator only with EURUSD, GBPUSD, EURJPY and GBPJPY pairs? Thank you very much.
Hi Robinho, I changed the mql4 code going through a process of "trial & error" to understand what different parameters do. It's a bit complex because the source code was decompiled and it's not easy to understand.

Best,
bubincka
Porta itineris dicitur longissima esse
  • #16,031
  • Aug 13, 2014 7:14am Aug 13, 2014 7:14am
Almost done for the week!

Attached Image


Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #16,032
  • Aug 13, 2014 7:16am Aug 13, 2014 7:16am
[quote=Masterrmind;7671757]{quote} Just for clarity here is what I saw ! ADR around the 50 mark and under these current market conditions good enough for me to trade it D1 down and PA well below the open (ie not hugging it) Convincing bounce up off monthly support level @ 86.130 in the previous hour. Start of the new hour very convincing rejection of the 300 level, precisely where my pending SL would be placed Good movement down to get me into the trade @ 200 level and into a TP area that had already been tested. ps. the fact that it's 2 hours out from NY open matters little to me! Hope that helps. Masterrmind..........[/quote


Thanks...all this seem to be 80% of decision making...rest is the system itself, I guess.
  • #16,033
  • Aug 13, 2014 7:16am Aug 13, 2014 7:16am
Quoting Robinho
{quote} Good day friend Bubincka you could tell me how to set up the FSM indicator only with EURUSD, GBPUSD, EURJPY and GBPJPY pairs? Thank you very much.
Hello, There's also an option to exclude pairs shown by the indicator in the indi settings under 'DontShowThisPairs'.
  • #16,034
  • Aug 13, 2014 7:21am Aug 13, 2014 7:21am
Quoting bubincka
{quote} Hi Robinho, I changed the mql4 code going through a process of "trial & error" to understand what different parameters do. It's a bit complex because the source code was decompiled and it's not easy to understand. Best, bubincka
You could leave the template? if you can ... the more thanks.
  • #16,035
  • Aug 13, 2014 7:25am Aug 13, 2014 7:25am
Quoting Carpathian
{quote} Hello, There's also an option to exclude pairs shown by the indicator in the indi settings under 'DontShowThisPairs'.
Hi Robinho, as correctly reported by Carpathian you can get the same outcome in a much simpler way. Unfortunately I discovered it after
Porta itineris dicitur longissima esse
  • #16,036
  • Aug 13, 2014 7:27am Aug 13, 2014 7:27am
Last trading for the day, the upcomming news. Not accordingly to rules.....
  • #16,037
  • Aug 13, 2014 7:27am Aug 13, 2014 7:27am
Quoting Fenderman
Quoting Masterrmind
{quote} Just for clarity here is what I saw ! ADR around the 50 mark and under these current market conditions good enough for me to trade it D1 down and PA well below the open (ie not hugging it) Convincing bounce up off monthly support level @ 86.130 in the previous hour. Start of the new hour very convincing rejection of the 300 level, precisely where my pending SL would be placed Good movement down to get me into the trade @ 200 level and into a TP area that had already been tested. ps. the fact that it's 2 hours out
...
You are about right!

Maybe closer to 90% decision making because the system is already laid out with the rules to guide you but in the end the trader needs to make the final decision....only they can pull the trigger.

Make the wrong decision and you're toast!
Make the right decision and you're headed down the right path.

Quailty time trading and learning leads to quality experience that hopefully leads you to success.

Masterrmind..........
Master your Mind then Master your Trades
  • #16,038
  • Aug 13, 2014 7:31am Aug 13, 2014 7:31am
Quoting Carpathian
{quote} Hello, There's also an option to exclude pairs shown by the indicator in the indi settings under 'DontShowThisPairs'.
THANK able.
  • #16,039
  • Aug 13, 2014 7:34am Aug 13, 2014 7:34am
Quoting Masterrmind
{quote}{quote} You are about right! Maybe closer to 90% decision making because the system is already laid out with the rules to guide you but in the end the trader needs to make the final decision....only they can pull the trigger. Make the wrong decision and you're toast! Make the right decision and you're headed down the right path. Quailty time trading and learning leads to quality experience that hopefully leads you to success. Masterrmind..........
= Experience and screen time

Cigarguy
Keep It Simple
  • #16,040
  • Aug 13, 2014 7:45am Aug 13, 2014 7:45am
ej

+5
today +15
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM15 2.png Size: 62 KB
19 traders viewing now