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As simple as possible: 00 level trading

  • #16,841
  • Aug 27, 2014 11:02pm Aug 27, 2014 11:02pm
Trade #1 NU TP.

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17 in total for the week so far. Waiting for LO.

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #16,842
  • Aug 27, 2014 11:09pm Aug 27, 2014 11:09pm
Quoting Masterrmind
{quote} ... How might you suggest I teach over a decade of trading experience? All the best, Masterrmind...........
The same way you eat an elephant .... bit by bit ...
The problem is not giving offence but taking offence!
  • #16,843
  • Aug 27, 2014 11:12pm Aug 27, 2014 11:12pm
Quoting JibalaPasan
17 in total for the week so far. Waiting for LO. Jibala
all win ?
Timing
  • #16,844
  • Aug 27, 2014 11:36pm Aug 27, 2014 11:36pm
Quoting ChrisGC
{quote} The same way you eat an elephant .... bit by bit ...
You just need to make sure that the bits you are absorbing are beneficial and not a waste of your time...... the danger of course is going around in circles and failing to progress.

Masterrmind...........
Master your Mind then Master your Trades
  • #16,845
  • Aug 27, 2014 11:53pm Aug 27, 2014 11:53pm
See you all soon.....will be back for London.......maybe Frankfurt.

Masterrmind............
Master your Mind then Master your Trades
  • #16,846
  • Aug 28, 2014 1:25am Aug 28, 2014 1:25am
Good morning! Lets have another greed day (hopefully)!
How to understand this? Do we trade EUR today?
Attached Image
  • #16,847
  • Aug 28, 2014 1:50am Aug 28, 2014 1:50am
Quoting modeco
Good morning! Lets have another greed day (hopefully)! How to understand this? Do we trade EUR today? {image}
Good question about whether or not to trade the EUR pairs when the red news for EUR indicates a whole day event.

Technically the rules say no trading 1 hour before red news and 30 minutes after but what if its an all day event?

Strictly by the rules you'd probably not trade it however I would trade it during the day but would pay extra special attention to the FF Open and the London Open and consider missing the 1 st hour of London to at least observe any impact on the EUR currency pairs at this time.

The alternative of course is to look at trading other non-EUR related pairs.

Masterrmind..........
Master your Mind then Master your Trades
  • #16,848
  • Aug 28, 2014 1:56am Aug 28, 2014 1:56am
Quoting Masterrmind
{quote} Good question about whether or not to trade the EUR pairs when the red news for EUR indicates a whole day event. Technically the rules say no trading 1 hour before red news and 30 minutes after but what if its an all day event? Strictly by the rules you'd probably not trade it however I would trade it during the day but would pay extra special attention to the FF Open and the London Open and consider missing the 1 st hour of London to at least observe any impact on the EUR currency pairs at this time. The alternative of course is to look...
Thanks!
  • #16,849
  • Aug 28, 2014 1:58am Aug 28, 2014 1:58am
Quoting Carpathian
.....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........
Good Morning,
I got a PM question what I mean by inside-outside wicks. I share the answer maybe this PA analysis is interesting to others as well.
Check out the chart attached. Only candles with long(er) wick at one side are marked. Blue ones have the wick 'inside', yellow ones have the wick 'outside' their swing. Orange ones are 'failed' ones just as with any candle pattern though I would not call them failed because this is just a game a probabilities. Any pattern just increases or decreases the probability of something.
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My idea is that when trying to find hint on future PA it is not enough to check where a long wick candle closed and say if the long wick is below the candle ie. it closed high then you get confirmation for upward movement, on the contrary, if the long wick is above the candle ie. it closed low then you get conf for downward movement BUT:
it is more important where those long wicks are positioned relative to current swing/trend. As both cases may signal weakening/reversal of current trend when the long wick is inside the swing (candle terminology calls them hanging man and inverted hammer) or when it is 'outside' the swing (candle terminology calls them shooting star and hammer).
Another important fact: long wicks (on the one side) essentially show that there was very abrupt change in supply/demand in the very same period which is a sign of weakening of current trend and/or PA becoming choppy.
  • #16,850
  • Aug 28, 2014 2:13am Aug 28, 2014 2:13am
EJ to TP

Attached Image (click to enlarge)
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nice start of the day
  • #16,851
  • Aug 28, 2014 2:15am Aug 28, 2014 2:15am
Trade #1

GBPJPY +2.5 pips

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Comment: Manually closed due to price hesitation after TS was activated. It would have been out by TS otherwise!

Masterrmind...........
Master your Mind then Master your Trades
  • #16,852
  • Aug 28, 2014 2:16am Aug 28, 2014 2:16am
EURJPY TP
Attached Image
The problem is not giving offence but taking offence!
  • #16,853
  • Aug 28, 2014 2:17am Aug 28, 2014 2:17am
Quoting modeco
{quote} Thanks!
I use the WUKAR NEWS EA and if it shows red or gray lines on my chart I generally skip that trade and look for an alternative.

Masterrmind.........
Master your Mind then Master your Trades
  • #16,854
  • Aug 28, 2014 2:21am Aug 28, 2014 2:21am
AJ LONG @.100 +5 TP
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Choice made per PA big up move followed by a slow retracement above BRN.
  • #16,855
  • Aug 28, 2014 2:23am Aug 28, 2014 2:23am
considering to short GBPCHF, in case this hour closes at about 1.5153 or lower.
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  • #16,856
  • Aug 28, 2014 2:36am Aug 28, 2014 2:36am
I have the WUKAR smiling on my platform but its not really working. can anyone pls walk me through the process of installing the EA again. thanks
  • #16,857
  • Aug 28, 2014 2:54am Aug 28, 2014 2:54am
Quoting Adeleke
I have the WUKAR smiling on my platform but its not really working. can anyone pls walk me through the process of installing the EA again. thanks
Are that correct ?
Attached Images
Donde hay Patron no manda Marinero
  • #16,858
  • Aug 28, 2014 2:55am Aug 28, 2014 2:55am
AJ to TP

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GA out by TS

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and done for the day

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  • #16,859
  • Aug 28, 2014 2:57am Aug 28, 2014 2:57am
2 more 11 pips
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Donde hay Patron no manda Marinero
  • #16,860
  • Aug 28, 2014 2:59am Aug 28, 2014 2:59am
Quoting Patron
{quote} Are that correct ? {image} {image}
they are now. but how do I know if its working?
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