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As simple as possible: 00 level trading

  • #17,361
  • Sep 4, 2014 1:36am Sep 4, 2014 1:36am
Quoting Dave.Z
......stay out today given the potential low volatility across all the major pairs caused by the pending BOE/ECB interest rate decisions? ....
Very quiet Asia, there was also a (pending) BOJ Press Conference, yens did not move a dime so it's not a bad idea refrain from those pairs which are waiting upcoming central bank red news.
  • #17,362
  • Sep 4, 2014 1:43am Sep 4, 2014 1:43am
Quoting Carpathian
{quote} Good Morning Everyone, Hello Dave, Ok I see, so they're the red price tags that show the trades. Do you put them manually, or with a script? You may wanna try the built-in MT4 feature: you can drag 'the trade' from account history onto the chart and you'll have the trade entry, exit, SL and TP marked. Just an idea, have a nice day!
Thanks! Wow I'm really a noob hehe. I tried right clicking on the trade in the account history for something to that effect, but I couldn't find it in the menu. Dragging it is
  • #17,363
  • Sep 4, 2014 1:46am Sep 4, 2014 1:46am
Quoting Carpathian
{quote} Very quiet Asia, there was also a (pending) BOJ Press Conference, yens did not move a dime so it's not a bad idea refrain from those pairs which are waiting upcoming central bank red news.
Yea very bad idea to trade now looks like, I'm happy to stay out
  • #17,364
  • Sep 4, 2014 1:58am Sep 4, 2014 1:58am
Alright!
Here comes London............

Masterrmind..........
Master your Mind then Master your Trades
  • #17,365
  • Sep 4, 2014 2:12am Sep 4, 2014 2:12am
good morning all,

lets see what today brings..

cheers

Udine
Sleep less, live fast, as it aint gonna last
  • #17,366
  • Sep 4, 2014 2:17am Sep 4, 2014 2:17am
GJ long @ .700 --> SL
Seems all indies matched, but it was a loss in a matter of minutes !!
Attached Image (click to enlarge)
Click to Enlarge Name: GJ_SL.jpg Size: 126 KB
Porta itineris dicitur longissima esse
  • #17,367
  • Sep 4, 2014 2:17am Sep 4, 2014 2:17am
Hope you have a really great trading day Udine...........

Masterrmind.............
Master your Mind then Master your Trades
  • #17,368
  • Sep 4, 2014 2:19am Sep 4, 2014 2:19am
Bad start of a day.
GA L SL

Two green candles and broken resistance from Tokyo sesion let me enter Long trade
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD1.png Size: 41 KB
  • #17,369
  • Sep 4, 2014 2:24am Sep 4, 2014 2:24am
Quoting iwan73
Bad start of a day. GA L SL Two green candles and broken resistance from Tokyo sesion let me enter Long trade {image}
There's a lot of potential TS/SL trade opportunities that passed by so far. I think pairs with EUR and GBP are a big no-no at the moment...
  • #17,370
  • Sep 4, 2014 2:27am Sep 4, 2014 2:27am
Quoting bubincka
GJ long @ .700 --> SL Seems all indies matched, but it was a loss in a matter of minutes !! {image}
Looks like a dangerous trade as the 00 level was a resistance level earlier in the day. Be careful with those and safe trading!
  • #17,371
  • Sep 4, 2014 2:30am Sep 4, 2014 2:30am
Patience my friends..

its a matter of finding trades with the lowest risk and the highest probability to get to TP...

Udine
Sleep less, live fast, as it aint gonna last
  • #17,372
  • Sep 4, 2014 2:33am Sep 4, 2014 2:33am
EU short @ .400 out by TS.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM15.png Size: 42 KB
  • #17,373
  • Sep 4, 2014 2:33am Sep 4, 2014 2:33am
Quoting Dave.Z
{quote} Looks like a dangerous trade as the 00 level was a resistance level earlier in the day. Be careful with those and safe trading!
Yes, it is. And yours it's the right analysis that I didn't, for fear to lose the entry close to the 00 lvl. Bottom line: better to miss a trade than lose it.
Porta itineris dicitur longissima esse
  • #17,374
  • Sep 4, 2014 2:44am Sep 4, 2014 2:44am
Buenos días familia,

Green pips to you all today !

Only trade I saw worthwhile so far is GC, took a long at 179.500 and it´s still running.

flx69
  • #17,375
  • Sep 4, 2014 2:57am Sep 4, 2014 2:57am
EURUSD BE
Attached Image
The problem is not giving offence but taking offence!
  • #17,376
  • Sep 4, 2014 3:00am Sep 4, 2014 3:00am
Good morning,

Can't see much setups on the EUR and GBP pairs either at the moment. Patience.....
Green pips to all!

BB.
  • #17,377
  • Sep 4, 2014 3:04am Sep 4, 2014 3:04am
Quoting Masterrmind
{quote} Simple.......... Look at the chart and follow PA before and during the FF session.......... (don't use a H1 candle or you'll see nothing so drop down in TF to say M15 or lower) Decide for yourself where price had been and where it was likely to be going including any likely obstacles. Understand PA likely patterns during FF and what usually happens to PA coming into the first hour of London (answer: it might reverse direction!!) Trading EJ at London Open under these conditions of PA = NO TRADE! I have left a few gaps in amongst my response...

MM,

First and foremost - and I think I speak on behalf of many thread members - I cannot thank you enough for your insights and chart analysis.

Before getting in a trade, I always start with the MN timeframe and dial down from there. I had made it a custom not to dial down from H1 anymore, with a view to avoiding too much noise. Error !!!
Once going down to the M15 level and looking to the left, it´s more than obvious that there was a good reason not to take this trade.
I´m not very good at photoshopping charts, but I chucked in some stop signs that speak for themselves.
Attached the chart, hopefully others will learn something from this as well...

flx69
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 60 KB
  • #17,378
  • Sep 4, 2014 3:08am Sep 4, 2014 3:08am
Trade #1 o/t day:

GC to SL. TS almost got triggered (PA got to the xxx.532 level, xxx.535 was needed for trigger).

flx69
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 77 KB
  • #17,379
  • Sep 4, 2014 3:39am Sep 4, 2014 3:39am
Trade #1

AUDJPY +5 TP

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 50 KB


Masterrmind...........
Master your Mind then Master your Trades
  • #17,380
  • Sep 4, 2014 3:39am Sep 4, 2014 3:39am
Quoting Dave.Z
..... I tried right clicking on the trade in the account history for something to that effect, but I couldn't find it in the menu. Dragging it is
Yeah... MT4 is not very intuitive here. I just happened to read about it in a forum once so that's how I got to know...

However reading the complete MT4 user guide - which I've never done, shame on me - would have also let us know about it. Just press F1 and you'll get to user guide. Then after some navigating you'll find the following:
"You can easily display the history of performed trades on a chart. To do it, you should just drag the necessary trade on a chart via the mouse. The entering and exiting points of the trade, connected with a line, will be shown with arrows. If you hold the Shift button while dragging a trade, the entire history of trades will be placed on the chart."

Haha you know I am laughing 'cos I don't remember having opened this user guide just once. A homework to be done some time!
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