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As simple as possible: 00 level trading

  • #16,501
  • Aug 22, 2014 2:40am Aug 22, 2014 2:40am
UJ +5
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COMMENT: I was just lucky not to be SLed. I shoudn't have entered because the high of the previous hour of my entering was above 103.800. There was danger. There was a reason not to trade. I think entering at the beginning of this hour was good. I had to be more patient.
My hope has been almost completely shattered, but not completely yet
  • #16,502
  • Aug 22, 2014 2:40am Aug 22, 2014 2:40am
Quoting Adeleke
got a pending SELL for GJ at 171.900, at suggestions about this?
SL almost immediately, damned
  • #16,503
  • Aug 22, 2014 2:43am Aug 22, 2014 2:43am
Quoting Adeleke
{quote} SL almost immediately, damned
why 171.900, not 172.000?
My hope has been almost completely shattered, but not completely yet
  • #16,504
  • Aug 22, 2014 2:43am Aug 22, 2014 2:43am
Quoting Adeleke
got a pending SELL for GJ at 171.900, at suggestions about this?
I suggest you don't sell at 2 pips above yesterdays LOD. High probability for a bounce before a break.
  • #16,505
  • Aug 22, 2014 2:44am Aug 22, 2014 2:44am
Trade #2

GBPJPY +5 TP

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Comment: Done for the day!

Masterrmind...........
Master your Mind then Master your Trades
  • #16,506
  • Aug 22, 2014 2:54am Aug 22, 2014 2:54am
Quoting easygoing
{quote} why 171.900, not 172.000?
easygoing, I think am doing something wrong here, I thought the red region is the no trade area. like 172.100 to 171.900
  • #16,507
  • Aug 22, 2014 2:55am Aug 22, 2014 2:55am
Quoting Adeleke
{quote} SL almost immediately, damned
The strength of both is not much different! Plus the pairs are not sync. But there is still a chance if resistance @900 will break. It is still a bearish zone!

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #16,508
  • Aug 22, 2014 2:56am Aug 22, 2014 2:56am
Quoting Masterrmind
Trade #2 GBPJPY +5 TP {image} Comment: Done for the day! Masterrmind...........
Hi Master but it's not only the first 00 lvl ? The first 00 lvl was .100 that is against the rules. So in this case youy can enter the next 00 level ?
Porta itineris dicitur longissima esse
  • #16,509
  • Aug 22, 2014 2:56am Aug 22, 2014 2:56am
Quoting Adeleke
{quote} easygoing, I think am doing something wrong here, I thought the red region is the no trade area. like 172.100 to 171.900
You can trade BRN such as 172.000, 171.000; but first of all, see RULE #2.
My hope has been almost completely shattered, but not completely yet
  • #16,510
  • Aug 22, 2014 3:03am Aug 22, 2014 3:03am
pending short EJ @137.600.
This might be my last trade today because I have some other work to do. I won't trade NYO.
My hope has been almost completely shattered, but not completely yet
  • #16,511
  • Aug 22, 2014 3:07am Aug 22, 2014 3:07am
Quoting easygoing
{quote} You can trade BRN such as 172.000, 171.000; but first of all, see RULE #2.
if I understand that RULE2 probably, its saying I should trade .000 the very first time PA hits that level after London open right?
  • #16,512
  • Aug 22, 2014 3:08am Aug 22, 2014 3:08am
Quoting easygoing
pending short EJ @137.600. This might be my last trade today because I have some other work to do. I won't trade NYO.
I will not make that trade. I t seems risky, although it is possible to do well.

It went well. Congratulations, easygoing.
  • #16,513
  • Aug 22, 2014 3:10am Aug 22, 2014 3:10am
Quoting acertaste
{quote} I change parameters of Wukar, if I think Price Action can to be good.
Do you set any TP by looking at the previous chart levels, or just run a trailing stop? I am currently working on the same, hence why I am not posting trades ATM. My thoughts are, that IF I am trading one of the top two strongest against the bottom two weakest, why am I limiting myself to only bagging 5 pips? It kills me to see my TP hit and the same bar runs for another 10 - 20 pips. I am still trying to work on the trailing settings. Any thoughts would be well received.
  • #16,514
  • Aug 22, 2014 3:11am Aug 22, 2014 3:11am
Quoting bubincka
{quote} Hi Master but it's not only the first 00 lvl ? The first 00 lvl was .100 that is against the rules. So in this case youy can enter the next 00 level ?
Yes I take the next valid entry provided all the other analysis matches up otherwise I will not trade it.

Masterrmind...........
Master your Mind then Master your Trades
  • #16,515
  • Aug 22, 2014 3:16am Aug 22, 2014 3:16am
Quoting panamamike
{quote} Do you set any TP by looking at the previous chart levels, or just run a trailing stop? I am currently working on the same, hence why I am not posting trades ATM. My thoughts are, that IF I am trading one of the top two strongest against the bottom two weakest, why am I limiting myself to only bagging 5 pips? It kills me to see my TP hit and the same bar runs for another 10 - 20 pips. I am still trying to work on the trailing settings. Any thoughts would be well received.
Change the tp, depending on how I think things will go. For example, now, if I had entered EURJPY, I would have put less than 5 pips tp, surely. But all this is very subjective and personal. Can not advise anyone. Example, I am sorry for having told his easygoing trade is risky, because I can influjir negatively and do not win. Apologies, easygoing.

I was wrong with the EURJPY.
  • #16,516
  • Aug 22, 2014 3:22am Aug 22, 2014 3:22am
EJ & GJ shown good opportunities in last half an hour..I hope no one missed green pips

I am EJ+5 GJ+5
  • #16,517
  • Aug 22, 2014 3:26am Aug 22, 2014 3:26am
Quoting panamamike
{quote} Do you set any TP by looking at the previous chart levels, or just run a trailing stop? I am currently working on the same, hence why I am not posting trades ATM. My thoughts are, that IF I am trading one of the top two strongest against the bottom two weakest, why am I limiting myself to only bagging 5 pips? It kills me to see my TP hit and the same bar runs for another 10 - 20 pips. I am still trying to work on the trailing settings. Any thoughts would be well received.
I'm not suggesting everyone attempt this ok it's just for discussion purposes only but why don't you try the following:

Simply set a TP for every trade you wish @ TP = 200 (20 pips) and set TS = 50 (5 pips).

1. As long as price activates your TS you have met your TP of 5 pips (minimum situation)

2. If price continues in your favor and you have a trailing step = 1 (or 2, 3 etc) then it will continue to follow your favored direction until price hits your TP or reverses into your TS which by that stage you are well into profit > 5 pips

3. Worst case is when PA goes up but not close enough to trigger your TS, reverses and goes straight to SL.

I can understand your feeling to a certain extent when PA races far and beyond your set TP level.

Hope my advice is useful to you

Masterrmind............
Master your Mind then Master your Trades
  • #16,518
  • Aug 22, 2014 3:28am Aug 22, 2014 3:28am
Trade #6 AJ TP.

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Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #16,519
  • Aug 22, 2014 3:33am Aug 22, 2014 3:33am
EJ +5 while I was taking a bath...

see you guys next week!
stay green

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My hope has been almost completely shattered, but not completely yet
  • #16,520
  • Aug 22, 2014 3:35am Aug 22, 2014 3:35am
Quoting Masterrmind
{quote} I'm not suggesting everyone attempt this ok it's just for discussion purposes only but why don't you try the following: Simply set a TP for every trade you wish @ TP = 200 (20 pips) and set TS = 50 (5 pips). 1. As long as price activates your TS you have met your TP of 5 pips (minimum situation) 2. If price continues in your favor and you have a trailing step = 1 (or 2, 3 etc) then it will continue to follow your favored direction until price hits your TP or reverses into your TS which by that stage you are well into profit > 5 pips 3. Worst...
Very similar to what I came up with. Thanks for the input.
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