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As simple as possible: 00 level trading

  • #16,821
  • Aug 27, 2014 9:54am Aug 27, 2014 9:54am
Quoting Meta1
{quote} Hello Juan, the left site of your dash looks very impressive. Is the source of them an excel file?
Google Cruscotto or Cruscott0.
  • #16,822
  • Aug 27, 2014 11:23am Aug 27, 2014 11:23am
Hello all, and a very big thank you for all I could learn out of this thread.

I have implemented psych levels (especially 900 - 100 and 400 - 600 to my mixed strategy.

If anyone is interested what I was able to do with a 5 pip goal on xxxJPY this week, here you go.

http://www.myfxbook.com/members/smee...000826/1005561

I won't be trading anymore this week, Monday it goes on ... hopefully

Cheers, George
"We are all just prisoners ... of our own device ..." (Hotel California)
  • #16,823
  • Aug 27, 2014 12:26pm Aug 27, 2014 12:26pm
Quoting Masterrmind
Trade #10 [Bonus Trade #6] GBPJPY +5 TP {image} Trade #11 [Bonus Trade #7] EURCAD +5 TP {image} Trade #12 [Bonus Trade #8] CADJPY +5 TP {image} Masterrmind...........
Hy
This strategy wunderful!
please send your used indicator and tpl
Thank you
Find it The Best Entry Points
  • #16,824
  • Aug 27, 2014 12:30pm Aug 27, 2014 12:30pm
Quoting bugyibuci
EURNZD short @ 1.57400 SL I assumed price will carry on bearish after the small retracement- I was wrong {image}
Good assumption bad timing that many times happens to me as well. A hint for a better timing could have been that the hour before you took the trade a long wick hammer formed but not at the end of the retrace with the wick INSIDE however the wick OUTSIDE (as the leg) of a small retrace in the 'original' retrace (marked with the thicker yellow zigzag).
Attached Image

That hammer made a prompt bearish continuation of the 'original' retrace less probable showing there's still some upward momo left.
  • #16,825
  • Aug 27, 2014 1:31pm Aug 27, 2014 1:31pm
[quote=Carpathian;7701554]{quote} Good assumption bad timing that many times happens to me as well. A hint for a better timing could have been that the hour before you took the trade a long wick hammer formed but not at the end of the retrace with the wick INSIDE however the wick OUTSIDE (as the leg) of a small retrace in the 'original' retrace (marked with the thicker yellow zigzag). {image} That hammer made a prompt bearish continuation of the 'original' retrace less probable showing there's still some upward momo left.[/quo

Thanks Áron👍
  • #16,826
  • Edited 3:24pm Aug 27, 2014 2:54pm | Edited 3:24pm
Quoting Juan007
{quote} no its a indicator
Is there a modified PSYLEVEL DASHBOARD where the Daily Open Candle can be changed?
With God all things are possible.
  • #16,827
  • Aug 27, 2014 4:20pm Aug 27, 2014 4:20pm
AUDNZD tp 7.5 pips
Attached Image (click to enlarge)
Click to Enlarge Name: audnzd udine tp 75.PNG Size: 111 KB
Donde hay Patron no manda Marinero
  • #16,828
  • Aug 27, 2014 5:12pm Aug 27, 2014 5:12pm
Quoting Meta1
{quote} Hello Masterrmind, how do you monitoring so many pairs? visuell only with PsyLevelDash?
I have a few monitors (good ones) that I use and the psy levels dashboard alerts me to pairs in sync all from the 1 screen.

I analyse each pair on its own merits and trade the probability.

Hope that helps.

Masterrmind..........
Master your Mind then Master your Trades
  • #16,829
  • Edited 9:08pm Aug 27, 2014 5:17pm | Edited 9:08pm
EURJPY tp 5.0 pips
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy tp 50.PNG Size: 71 KB
Donde hay Patron no manda Marinero
  • #16,830
  • Aug 27, 2014 5:19pm Aug 27, 2014 5:19pm
Quoting Axiom
{quote} Hi MM Congrats on your trades today. I would appreciate some insights into how you organise your workstation and processes in order to monitor and trade multiple pairs. Do you have a monitor set up with multiple charts on M15 that you check every hour / continuously, and then zooming into specific promising charts? Or do you cycle through individual charts every hour / continuously? Or do you take your cue only from the Psy Levels dashboard every hour and then refer to promising individual charts? Or do something else i've missed? I guess,...
Trading is not easy that's true....very difficult and frustrating if you get it wrong regularly!

You need focus and attention to what is being presented to you on the chart and trade with the probability in your favor....

I analyse charts by sync if present, PA, S+R, proximity to pivots (weekly and monthly) and many other factors and take the trades that meet my criteria. Translated that means they must show a good level of probability and if not I pass on that trade as there are plenty more to analyse.

Masterrmind..........
Master your Mind then Master your Trades
  • #16,831
  • Aug 27, 2014 5:23pm Aug 27, 2014 5:23pm
Quoting Masterrmind
{quote} I have a few monitors (good ones) that I use and the psy levels dashboard alerts me to pairs in sync all from the 1 screen. I analyse each pair on its own merits and trade the probability. Hope that helps. Masterrmind..........
Masterrmind

thanks, could you please put a template ?

thanks in advance
  • #16,832
  • Aug 27, 2014 6:00pm Aug 27, 2014 6:00pm
USDJPY tp
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY20140828.JPG Size: 380 KB
  • #16,833
  • Aug 27, 2014 7:04pm Aug 27, 2014 7:04pm
EU TP
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-08-28_100205.png Size: 19 KB
Timing
  • #16,834
  • Aug 27, 2014 7:50pm Aug 27, 2014 7:50pm
Quoting Juan007
{quote} Masterrmind thanks, could you please put a template ? thanks in advance
Hi Juan007,

When I used the word monitors I was referring to viewing not any additional dashboards.

What you see posted in my screen shots is the basis for what I use but as mentioned I also use various techniques so I have the best idea of where price is "likely" to go.

Masterrmind...........
Master your Mind then Master your Trades
  • #16,835
  • Aug 27, 2014 7:50pm Aug 27, 2014 7:50pm
NZDUSD TS
Attached Image
The problem is not giving offence but taking offence!
  • #16,836
  • Edited 9:11pm Aug 27, 2014 7:57pm | Edited 9:11pm
AUDNZD tp 7.5 pips
EURJPY tp 10.5 pips
AUDCAD tp 7.5 pips
AUDUSD tp 6.5 pips
EURUSD tp 5.5 pips

total 37.5 pips + 12. 5 pips (previously published) = 50 pips.

(I've fallen asleep and there are trades that violate the rule of the news.)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audnzd udine tp 75.PNG Size: 111 KB
Click to Enlarge Name: audcad tp55.PNG Size: 78 KB
Click to Enlarge Name: audusd tp65.PNG Size: 69 KB
Click to Enlarge Name: eurusd tp55.PNG Size: 85 KB
Click to Enlarge Name: eurjpy udibe tp 55.PNG Size: 77 KB
Donde hay Patron no manda Marinero
  • #16,837
  • Aug 27, 2014 8:07pm Aug 27, 2014 8:07pm
Quoting Masterrmind
{quote} Hi Juan007, When I used the word monitors I was referring to viewing not any additional dashboards. What you see posted in my screen shots is the basis for what I use but as mentioned I also use various techniques so I have the best idea of where price is "likely" to go. Masterrmind...........
Hello MM, glad to see you are much profitable. A real master, and you should share your minds so all can benefit from it!

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #16,838
  • Aug 27, 2014 8:37pm Aug 27, 2014 8:37pm
Quoting JibalaPasan
{quote} Hello MM, glad to see you are much profitable. A real master, and you should share your minds so all can benefit from it! Jibala
Hi Jibala,

I have shared many hints in the charts that are posted within this thread and it is true that a trader needs to apply their own time to studying and learning chart analysis.

There is so much to learn and this is something that takes varying lengths of time which depends totally on the commitment, intelligence and determination of the individual trader.

I trade dynamically (that is my mindset) each chart I analyse by applying everything I have learnt over more than a decade of trading but I apply it to a static 00 trading methodology in this thread at least (by this I mean the entries are always from a 00 level -static concept even though the actual 00 level itself will differ and there are certain static rules of this system that do not change in general).

As you can imagine it is not an easy feat to put this knowledge into the head of a new or even intermediate trader and by doing so this distracts the whole purpose of the 00 trading system in that it is meant to be applied as simply as possible however the trades that you decide to take must come from your own ability and that is where the right chart experience and market wit comes into play. We all have the same template but it's how you decide to take a trade or not take a trade and how you manage that risk in real time that makes an incredible difference.

I also use other techniques that are far removed from the idea of this thread and out of respect to Udine I will not post them here however as I've said before I analyse the chart in detail using all the techniques available to a trader to give the trade the best probability of success as I see it.

How might you suggest I teach over a decade of trading experience?

All the best,

Masterrmind...........
Master your Mind then Master your Trades
  • #16,839
  • Aug 27, 2014 8:42pm Aug 27, 2014 8:42pm
GU TP +6
Attached Image (click to enlarge)
Click to Enlarge Name: GU.png Size: 19 KB
Timing
  • #16,840
  • Aug 27, 2014 8:53pm Aug 27, 2014 8:53pm
Quoting Masterrmind
{quote} Hi Jibala, I have shared many hints in the charts that are posted within this thread and it is true that a trader needs to apply their own time to studying and learning chart analysis. There is so much to learn and this is something that takes varying lengths of time which depends totally on the commitment, intelligence and determination of the individual trader. I trade dynamically (that is my mindset) each chart I analyse by applying everything I have learnt over more than a decade of trading but I apply it to a static 00 trading methodology...
It was answered almost one by one by my mentor some minutes before, thus I didn't expect any other!

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
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