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As simple as possible: 00 level trading

  • #17,041
  • Aug 29, 2014 10:06am Aug 29, 2014 10:06am
Eg +5
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eu +5
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My hope has been almost completely shattered, but not completely yet
  • #17,042
  • Aug 29, 2014 10:14am Aug 29, 2014 10:14am
Have a good weekend everyone.

See you all next week.

Masterrmind...........
Master your Mind then Master your Trades
  • #17,043
  • Aug 29, 2014 10:28am Aug 29, 2014 10:28am
UC TS +0.5
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My hope has been almost completely shattered, but not completely yet
  • #17,044
  • Aug 29, 2014 10:32am Aug 29, 2014 10:32am
Quoting modeco
Hi Undine, I am new to this thread... its nice to see the original author back! Thanks for the thread- I have learned a lot from that. As I have a perminent job right now, my idea is to trade this system only on sesion openings- just check the charts shortly before FO, LO and NYO and place the pending orders in case there are any possibilities. Hope thats not waste of time? Had some TPs before. Due to lack of time, today took only 1 trade, but that hit SL. {image}
It looks like you entered a long trade at a 1.65900 level which is violation of rule #6 (no long trades at .900). Or it was a long at 1.65800 which is below the daily open so at that time the D1 would be red which would also not be in line with rules. This is what I see.....
  • #17,045
  • Aug 29, 2014 11:04am Aug 29, 2014 11:04am
EU +5
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COMMENT: put a pending order about a minute before the end of the previous hour. RmDn was green then.
My hope has been almost completely shattered, but not completely yet
  • #17,046
  • Aug 29, 2014 11:33am Aug 29, 2014 11:33am
UJ +5
I'm satisfied good night everyone. have a nice weekend!
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My hope has been almost completely shattered, but not completely yet
  • #17,047
  • Aug 29, 2014 1:22pm Aug 29, 2014 1:22pm
Quoting easygoing
{quote} I often rewrite my scripts to realize what I want to do. For example, I change risk. I change expiration dates. To use it correctly and safely you must be able to read the codes. Pip can be different when we use different brokers. My codes are not safe if you use them blindly. So I won't share them unless I improve them for newbies. I won't refer to my scripts until then.
Yes I can read and modify code, if you don't want to share here on forum you can pm me.Thanks
  • #17,048
  • Aug 29, 2014 6:33pm Aug 29, 2014 6:33pm
Quoting Masterrmind
{quote} Growth has been very good and well over 2% per day so you can make an estimate of my account growth although I need to say that for the first couple of weeks my TP % gain per trade varied from the 2 initial trades being say 1% each of available equity to bonus trades being anywhere from 1/4 to 1/2 of "usual" position size which was later stepped up. This variance also alters the net loss expected from TS and BE trades since the position size may alter. Since getting a very good grip on the 00 level trading method and applying "market wit"...
Great.

For me, the TP varies, from 1 pip to 14/15 pips for bunch of trades.

In the last 7 weeks, only thrice, the price hit stop loss.

Since I sometimes take trades daily Green, hourly red condition, I do not post here.

As you know I have two live a/c with Australian brokers, both growing at the rate of 1.91 % average but cumulatively much much larger percentage growth.

If I continue to trade like this, most probably will see some 00's at least if not 000's. by the end of 50 weeks.

Thanks to Udine, for the rules of the system + most importantly spread sheet.

The spread sheet concept really opened my eyes to control my greediness in daily targets.

Great contribution from Udine.
Intraday only.
  • #17,049
  • Edited 8:37pm Aug 29, 2014 8:25pm | Edited 8:37pm
Quoting Udine
Hi all, I have not been around for a while, and some people requested me how I trade nowadays, so I thought to present you with my “trading method”. BTW: this “so called trading method” is nothing original, I invented nothing new here !!! I post it in a Word doc., as I cannot stain my eyes too much, still having eye problems... cheers and stay green!! Udine Edited: word doc four important posts: post 711: http://www.forexfactory.com/showthre...35#post7518535 (how to...

Thanks Udine,

I have read your posts, it is great. This thread grows very fast, great. This mean that your system works. I have also read other thread, some people there said that it is better not to use your system. I think i can use your system to get profit in trading, if i can combine it with my trading style, like: money management, time filter, choosing right pairs, emotion controlling, etc ... etc ...
At your rule, we must see at D1/H1 direction, before we make decision in lower TF. My question is: Have you try it at M1 for entry ? What must be concern if we trade using M1 TF ?

Edit:
I like trading AUD/USD. Can i use your system for that pair ? (cos you normally trade GBP/JPY & EUR/JPY as i see at your rules ... i do not like JPY).
My indicators are shown, i just think may be i can combine it with your great system.
Thanks
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  • #17,050
  • Aug 29, 2014 11:56pm Aug 29, 2014 11:56pm
Quoting modeco
Hi Undine, I am new to this thread... its nice to see the original author back! Thanks for the thread- I have learned a lot from that. As I have a perminent job right now, my idea is to trade this system only on sesion openings- just check the charts shortly before FO, LO and NYO and place the pending orders in case there are any possibilities. Hope thats not waste of time? Had some TPs before. Due to lack of time, today took only 1 trade, but that hit SL. {image}
welcome,

its no waste of time at all..

btw your trade was a violation of rule 6. so would have been a no trade = no SL

Udine
Sleep less, live fast, as it aint gonna last
  • #17,051
  • Aug 30, 2014 12:02am Aug 30, 2014 12:02am
Quoting navk
{quote} Great. For me, the TP varies, from 1 pip to 14/15 pips for bunch of trades. In the last 7 weeks, only thrice, the price hit stop loss. Since I sometimes take trades daily Green, hourly red condition, I do not post here. As you know I have two live a/c with Australian brokers, both growing at the rate of 1.91 % average but cumulatively much much larger percentage growth. If I continue to trade like this, most probably will see some 00's at least if not 000's. by the end of 50 weeks. Thanks to Udine, for the rules of the system + most importantly...
glad it works for you..

PDF & BCC

Udine
Sleep less, live fast, as it aint gonna last
  • #17,052
  • Aug 30, 2014 4:07am Aug 30, 2014 4:07am
Quoting Udine
{quote} welcome, its no waste of time at all.. btw your trade was a violation of rule 6. so would have been a no trade = no SL Udine
Undine and Superstition,

Thaks for your comments regarding my trade, however, I dont see violation of any rules in that trade (correct me if I am wrong). Maybe I didnt express myself clear enough, but my trade was short GBPUSD @1.65800 which is bellow the DO.

The only thing I see why I shoudnt open the trade is that there seems to be support zone near the DO. And we can see that previous candle atempted, but did not suceed breaking that support, and made a remarkable wick to the south, which could mean that the bulls are becoming stronger than the bears.
  • #17,053
  • Aug 30, 2014 7:28am Aug 30, 2014 7:28am
Quoting modeco
{quote} Undine and Superstition, Thaks for your comments regarding my trade, however, I dont see violation of any rules in that trade (correct me if I am wrong). Maybe I didnt express myself clear enough, but my trade was short GBPUSD @1.65800 which is bellow the DO. The only thing I see why I shoudnt open the trade is that there seems to be support zone near the DO. And we can see that previous candle atempted, but did not suceed breaking that support, and made a remarkable wick to the south, which could mean that the bulls are becoming stronger...
12. Distance to RN > 10 pips (see 3 & 4)

Too close to DO!

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #17,054
  • Aug 30, 2014 11:38am Aug 30, 2014 11:38am
Quoting modeco
{quote} Undine and Superstition, Thaks for your comments regarding my trade, however, I dont see violation of any rules in that trade (correct me if I am wrong). Maybe I didnt express myself clear enough, but my trade was short GBPUSD @1.65800 which is bellow the DO. The only thing I see why I shoudnt open the trade is that there seems to be support zone near the DO. And we can see that previous candle atempted, but did not suceed breaking that support, and made a remarkable wick to the south, which could mean that the bulls are becoming stronger...
Just my 2 cents...
I don't see any violation of an rule here...
by the time the hour opened there was enough space left to the .80 level (for me it looks like at least 5-6 pip)

what I think is... The Asian session didn't break the .80 level. Frankfurt didn't break it as well and London failed to break the 1.6600.
So price came back down for another retest of the .80 area and didn't break again because the americans failed to press it down further more.

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  • #17,055
  • Aug 30, 2014 1:21pm Aug 30, 2014 1:21pm
Quoting Juan007
london time i comming to ny open news at 7:30 {image}
Juan do you have the .mq4 file for the strength indi on the left? Did you already post it? I want to see how it is calculating. If you don't want to post it here, PM me and I'll give you my email. Thanks
  • #17,056
  • Aug 30, 2014 6:45pm Aug 30, 2014 6:45pm
Quoting Masterrmind
{quote} Please take a good long look at the chart and carefully analyse the chart. When you are done then respond back to me with your reasons. Then I'll give you the answer........ Sound good? Masterrmind..........
I can see from your chart that you have a resistance level at 172.32 which cautioned you not to take 172.30 level 00.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #17,057
  • Aug 30, 2014 11:18pm Aug 30, 2014 11:18pm
Quoting probabilita
{quote} Thanks Udine, I have read your posts, it is great. This thread grows very fast, great. This mean that your system works. I have also read other thread, some people there said that it is better not to use your system. I think i can use your system to get profit in trading, if i can combine it with my trading style, like: money management, time filter, choosing right pairs, emotion controlling, etc ... etc ... At your rule, we must see at D1/H1 direction, before we make decision in lower TF. My question is: Have you try it at M1 for entry...
Ciao Probabilita,

I never tried the M1... why should I, I have plenty time on the 15M or 1H to set up my trades.

The AUDUSD I have never tested it , so you have to do that yourself. If your system works for you great, but I prefer you wont post those charts as we trade here differently..

thanks in advance and stay green

Udine
Sleep less, live fast, as it aint gonna last
  • #17,058
  • Aug 30, 2014 11:20pm Aug 30, 2014 11:20pm
Quoting Udine
{quote} welcome, its no waste of time at all.. btw your trade was a violation of rule 6. so would have been a no trade = no SL Udine

Sorry Modeco,

thought you wnt long at .900 level.

cheers

Udine
Sleep less, live fast, as it aint gonna last
  • #17,059
  • Aug 31, 2014 2:11am Aug 31, 2014 2:11am
hi jibala:
if pending order 131800 is the first oolevel,how about this trade?
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  • #17,060
  • Aug 31, 2014 2:27am Aug 31, 2014 2:27am
Quoting liuxiaobing
hi jibala: if pending order 131800 is the first oolevel,how about this trade? {image}
liuxiaobing, this is correct. 1.31700 level is the next valid pending order for short since last candle close is below 1.3800.

I will not qualify 1.3800 level valid to set short pending order since the price before crossing the DO line is still green (D1 = green) and both levels are almost at the same area.

isko
SMT, IPDA, Market Structure
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