As simple as possible: 00 level trading | Page 827 | Forex Factory

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As simple as possible: 00 level trading

  • #16,521
  • Aug 22, 2014 5:35am Aug 22, 2014 5:35am
Quoting acertaste
{quote}It went well. Congratulations, easygoing.
Thanks acertaste. Green pips to you too!
My hope has been almost completely shattered, but not completely yet
  • #16,522
  • Aug 22, 2014 5:37am Aug 22, 2014 5:37am
Thats what I call a hard reversal on the yen!!!
  • #16,523
  • Aug 22, 2014 5:43am Aug 22, 2014 5:43am
Quoting panamamike
Thats what I call a hard reversal on the yen!!!
One could watch this nicely on the PsyLevel Dashboard.

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #16,524
  • Aug 22, 2014 5:53am Aug 22, 2014 5:53am
Jibala is nailing it again!!!

feels good to see you back on board on the green pips train
  • #16,525
  • Aug 22, 2014 5:57am Aug 22, 2014 5:57am
Quoting JibalaPasan
{quote} One could watch this nicely on the PsyLevel Dashboard. Jibala
I find my other CSM shows it even better....i have both side by side...when they agree it is great for trading this system and my scalper.

edit....sorry I mistook what you said....yes the psylevel shows it ok too....
  • #16,526
  • Aug 22, 2014 6:07am Aug 22, 2014 6:07am
I m still looking for account charts from experts in this thread like mastermind, udine, easygoing,JibalaPasan to post their success story with this method..It will definitely boost members
  • #16,527
  • Aug 22, 2014 6:09am Aug 22, 2014 6:09am
I guess you could say that all our stories are contained within this thread ....... all 827 pages and counting!

Masterrmind.........
Master your Mind then Master your Trades
  • #16,528
  • Aug 22, 2014 6:13am Aug 22, 2014 6:13am
Quoting Jeffray
Jibala is nailing it again!!! feels good to see you back on board on the green pips train
Thanks again for all your kind words! Lets see if there are still some pips to collect on that railroad.

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #16,529
  • Aug 22, 2014 6:15am Aug 22, 2014 6:15am
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...
Hi Master, is that the way you trade ? i.e. TP set to 20 pips and TS to 5 ?
Porta itineris dicitur longissima esse
  • #16,530
  • Aug 22, 2014 6:29am Aug 22, 2014 6:29am
hey Bub , depends a lot on the strength of the trend IMO , strong trend good Tp ... weak trend =don try for too much . I like to set sl just in profit when trend is flowing and not set TS till well itm ...
Whats That? you're trading What?
  • #16,531
  • Aug 22, 2014 6:36am Aug 22, 2014 6:36am
GJ to SL, indicators, strenght and conformation are telling me there is still a downtrend and i thought price would have gone down again in a few minutes.
Probably it will, but i entered too early.

Lrt
Attached Image
"Every battle is won before it's fought."
  • #16,532
  • Aug 22, 2014 6:45am Aug 22, 2014 6:45am
Quoting Lrt.Ita
GJ to SL, indicators, strenght and conformation are telling me there is still a downtrend and i thought price would have gone down again in a few minutes. Probably it will, but i entered too early. Lrt {image}
The pinbar is ~25 Pip or so! How you could enter short here? Try to take the 1st possible entry after DO! That's it, no more, no less! The more late you go in a trade, the higher your risk will be.

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #16,533
  • Aug 22, 2014 6:49am Aug 22, 2014 6:49am
Quoting JibalaPasan
{quote} The pinbar is ~25 Pip or so! How you could enter short here? Try to take the 1st possible entry after DO! That's it, no more, no less! The more late you go in a trade, the higher your risk will be. Jibala
You're right, that was a stupid thing.
What do you mean with "Try to take the 1st possible entry after DO!"?
To just wait for a trend to begin in the day, take profit on it and stop?
Thanks.

Lrt
"Every battle is won before it's fought."
  • #16,534
  • Aug 22, 2014 6:52am Aug 22, 2014 6:52am
Quoting Lrt.Ita
GJ to SL, indicators, strenght and conformation are telling me there is still a downtrend and i thought price would have gone down again in a few minutes. Probably it will, but i entered too early. Lrt {image}
SL, too.. @ same postion..
  • #16,535
  • Aug 22, 2014 6:55am Aug 22, 2014 6:55am
Quoting bubincka
{quote} Hi Master, is that the way you trade ? i.e. TP set to 20 pips and TS to 5 ?
Not in this thread I don't it was for discussion purposes only related to the original question put forward.

Best to stay with TP = 5 and SL = 10 as this is the method in this thread.

Hope that clears it up! It was NOT an invitation for everyone to alter their levels!

Good Trading

Masterrmind..........
Master your Mind then Master your Trades
  • #16,536
  • Aug 22, 2014 7:01am Aug 22, 2014 7:01am
Quoting Lrt.Ita
{quote} You're right, that was a stupid thing. What do you mean with "Try to take the 1st possible entry after DO!"? To just wait for a trend to begin in the day, take profit on it and stop? Thanks. Lrt
It depends what time you start your day / trading. As you may know, the early bird gets the worm! So lets say, after you started your session, just look for the first possible entry above / below DO in accordance to the rules and place orders. Dont go for the 2nd, 3rd or 4th level above / below DO. Actually its too risky!

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #16,537
  • Aug 22, 2014 7:01am Aug 22, 2014 7:01am
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...
1. If you have BE = 3.5 won't it then move to BE after 3.5 and what happens once it move further up will it then move BE up as well?

2. If TS = 50 and trailing step = 1 will it once it hit 10 pips move TS up once more for another 5 pips for total of 10 pips?
The problem is not giving offence but taking offence!
  • #16,538
  • Aug 22, 2014 7:02am Aug 22, 2014 7:02am
Trade #3

[Bonus Trade #1]

EURUSD +5 TP

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 53 KB


Masterrmind...........
Master your Mind then Master your Trades
  • #16,539
  • Aug 22, 2014 7:15am Aug 22, 2014 7:15am
Which pair works during New York open?
Due to my work, I only got time when New York open session.
  • #16,540
  • Aug 22, 2014 7:18am Aug 22, 2014 7:18am
Quoting ChrisGC
{quote} 1. If you have BE = 3.5 won't it then move to BE after 3.5 and what happens once it move further up will it then move BE up as well? 2. If TS = 50 and trailing step = 1 will it once it hit 10 pips move TS up once more for another 5 pips for total of 10 pips?
All depends on your settings I was mainly outlining TS and TP usage in reference to the original question.

If BE was set = 35 then yes once price moves 3.5 pips in your favor then SL will move to BE.

Strategies can be formulated using a combination of the TS, BE and TP settings.

I'll leave it at that because I don't really want to confuse anyone especially when this thread is for 5 pip TP and 10 pip SL.

Masterrmind...........
Master your Mind then Master your Trades
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