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As simple as possible: 00 level trading

  • #17,601
  • Sep 8, 2014 11:25am Sep 8, 2014 11:25am
ok guys I am out of here..

speak tomorrow

cheers

Udine
Sleep less, live fast, as it aint gonna last
  • #17,602
  • Sep 8, 2014 11:29am Sep 8, 2014 11:29am
Quoting Masterrmind
No wick at the end of a bullish candle generally means 1 thing .... enough momentum to take your trade another 5 to 10 pips. .....
Provided the high of that bullish candle is passed (somewhat) by price in the next period! Which is very probable given the no-wick candle...

Quoting Masterrmind
....What you don't see however is the technique I used to get into that trade! ......it simply has to do with the entry into the trade.....
Was it a limit order that opened in the mini retrace at the beginning of the hour?

Good Night!
  • #17,603
  • Sep 8, 2014 11:46am Sep 8, 2014 11:46am
Quoting Masterrmind
.....The reason I took the EU trade was due to a nice break down away from the DO and the 500 level. Shorting @500 level simply looked too risky for me! The 400 level however showed a drive down in PA away from previous "mini" support which is what I like to see. Masterrmind...........
Or the way I see it: it was only by .400 when the previous uptrend was broken, see your chart annotated -- if you allow.

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  • #17,604
  • Sep 8, 2014 3:49pm Sep 8, 2014 3:49pm
Quoting Masterrmind
{quote} Since it's such a big thread and you asked nicely. Please go to page 663 and post #13,241. All the best, Masterrmind...........
Thanks
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #17,605
  • Sep 8, 2014 4:16pm Sep 8, 2014 4:16pm
Quoting Masterrmind
{quote} Please check these ones out too! UdineGlobal Buy and Sell s/ware from: Page 387, post # 7724 Masterrmind...........
Nice one. This really help Thanks
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #17,606
  • Sep 9, 2014 12:03am Sep 9, 2014 12:03am
EJ non-system discretionary (no chart respectfully) long +5 could have made this slow but high probability trade without candles. All t/f's green EUR stronger than JPY with bounce from support

Cigarguy
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Keep It Simple
  • #17,607
  • Edited 1:03am Sep 9, 2014 12:45am | Edited 1:03am
Good day everyone! Looks like it was a good idea to skip Monday trading

Besides the usual low volatility, previous backtesting gave a lot of SL hits.

Hope today goes better.

Edit: Frankfurt open looks like a non-starter. Plenty of pairs with reversal signals from the DO trend and/or approaching BRN territory. Hope there's more opportunities when London opens.
  • #17,608
  • Sep 9, 2014 1:26am Sep 9, 2014 1:26am
good morning all,

lets see if today is better than yesterday

cheers

Udine
Sleep less, live fast, as it aint gonna last
  • #17,609
  • Sep 9, 2014 2:20am Sep 9, 2014 2:20am
GJ +5 (171.00 long)
  • #17,610
  • Sep 9, 2014 2:25am Sep 9, 2014 2:25am
EU +5 (1.2880 short) London open hour

A bit risky since it was against H4 candle, but strong reversal signal from the retracement.
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  • #17,611
  • Sep 9, 2014 2:28am Sep 9, 2014 2:28am
Quoting Dave.Z
EU +5 (1.2880 short) London open hour A bit risky since it was against H4 candle, but strong reversal signal from the retracement. {image}

same here.. was nice rejection of Daily open..

Udine

Edit: forgot the chart..
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Sleep less, live fast, as it aint gonna last
  • #17,612
  • Sep 9, 2014 2:28am Sep 9, 2014 2:28am
Good Morning,

UJ LONG @.300 BE TS.
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After an asian high a restart up from a decent retrace.

NU SHORT @.600 +5 TP.
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Asian low followed by LH in FFO then this retrace broken down in LO.
  • #17,613
  • Sep 9, 2014 2:32am Sep 9, 2014 2:32am
AU short (+4) 0.9260 - manually closed trade as I did not want to hit TS (there was some fluctuations)

It hit 0.92552 =_=

Basically a mirror of my EU trade above but less volatility
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  • #17,614
  • Sep 9, 2014 2:33am Sep 9, 2014 2:33am
Quoting Udine
good morning all, lets see if today is better than yesterday cheers Udine
Certainly hope so Udine.......

Masterrmind..........
Master your Mind then Master your Trades
  • #17,615
  • Sep 9, 2014 2:36am Sep 9, 2014 2:36am
Quoting Udine
{quote} same here.. was nice rejection of Daily open.. Udine Edit: forgot the chart.. {image}
Based on your rules / advice - I should call it a day after 2 wins?

It feels wrong working 1.5 hrs per day though
  • #17,616
  • Sep 9, 2014 2:40am Sep 9, 2014 2:40am
Quoting Dave.Z
{quote} Based on your rules / advice - I should call it a day after 2 wins? It feels wrong working 1.5 hrs per day though
yes

sit and watch... = great patience & discipline training

Udine
Sleep less, live fast, as it aint gonna last
  • #17,617
  • Sep 9, 2014 2:40am Sep 9, 2014 2:40am
Quoting Dave.Z
AU short (+4) 0.9260 - manually closed trade as I did not want to hit TS (there was some fluctuations) It hit 0.92552 =_= Basically a mirror of my EU trade above but less volatility {image}
Hello Dave,
I do not see any trades on your charts, this way it is less useful to others who are trying to learn from your actions... or am I missing sth?
Áron
  • #17,618
  • Sep 9, 2014 2:42am Sep 9, 2014 2:42am
Quoting Carpathian
{quote} Hello Dave, I do not see any trades on your charts, this way it is less useful to others who are trying to learn from your actions... or am I missing sth? Áron
Yes well, the arrow points are in my description lol.

I tried dragging the trade to the box, but the arrows are not appearing properly (like only one appears). May be something to do with my indicators.
  • #17,619
  • Sep 9, 2014 2:43am Sep 9, 2014 2:43am
Quoting Carpathian
{quote} Provided the high of that bullish candle is passed (somewhat) by price in the next period! Which is very probable given the no-wick candle... {quote} Was it a limit order that opened in the mini retrace at the beginning of the hour? Good Night!
"Was it a limit order that opened in the mini retrace at the beginning of the hour? "

Very good and yes you are correct!

ps. important point is the mini retrace.....

Masterrmind.........
Master your Mind then Master your Trades
  • #17,620
  • Sep 9, 2014 2:46am Sep 9, 2014 2:46am
Quoting Carpathian
{quote} Hello Dave, I do not see any trades on your charts, this way it is less useful to others who are trying to learn from your actions... or am I missing sth? Áron
Here you go!

Manually closing the trade of the AU was a good idea in the end /phew
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