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As simple as possible: 00 level trading

  • #17,621
  • Sep 9, 2014 2:49am Sep 9, 2014 2:49am
Quoting Udine
{quote} yes sit and watch... = great patience & discipline training Udine
Cool beans, I shall do that then, while playing Kingdom Rush on another screen
  • #17,622
  • Sep 9, 2014 2:52am Sep 9, 2014 2:52am
Quoting Udine
{quote} same here.. was nice rejection of Daily open.. Udine Edit: forgot the chart.. {image}
How did this trade come up with your yesterday quote that you always looking for EJ and EU to be in sync? (EU was below DO and EJ was above).
  • #17,623
  • Sep 9, 2014 2:58am Sep 9, 2014 2:58am
Quoting Dave.Z
{quote} Here you go! Manually closing the trade of the AU was a good idea in the end /phew {image} {image}
Thanks, much easier to read now!
  • #17,624
  • Sep 9, 2014 2:58am Sep 9, 2014 2:58am
Quoting orangutangas
{quote} How did this trade come up with your yesterday quote that you always looking for EJ and EU to be in sync? (EU was below DO and EJ was above).

the reply to your question is already in the quote

Udine
Sleep less, live fast, as it aint gonna last
  • #17,625
  • Sep 9, 2014 2:59am Sep 9, 2014 2:59am
Hello everybody.
My trades from today. Looks like I was lucky. But at the same time I am trying to keep up to the rules. All on demo.
Placed all pending orders a couple minutes after London open (8am).
Please feel free to make comments.
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  • #17,626
  • Sep 9, 2014 3:02am Sep 9, 2014 3:02am
Quoting orangutangas
{quote} How did this trade come up with your yesterday quote that you always looking for EJ and EU to be in sync? (EU was below DO and EJ was above).
Based on what Udine stated the rejection of the DO trumped sync.

Personally I think that while sync matters - fundamental analysis is now showing the EUR downtrending with JPY trending even lower than EUR.

Traders are taking their money out of JPY with the recent reports of the future interest rate hikes in the USD. So the lack of sync is explained, and we can happily trade.
  • #17,627
  • Sep 9, 2014 3:04am Sep 9, 2014 3:04am
Quoting Udine
{quote} the reply to your question is already in the quote Udine
Y, i saw at EU was going down and did not broke DO into above, but Frankfurt H1 candle was kinda strong bullish so didn't took that one.
Btw, risky as it's 3rd entry + EU previous support @1.2866, but putting half of the trade EU got to TP.
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  • #17,628
  • Sep 9, 2014 3:07am Sep 9, 2014 3:07am
Quoting understandFX
Hello everybody. My trades from today. Looks like I was lucky. But at the same time I am trying to keep up to the rules. All on demo. Placed all pending orders a couple minutes after London open (8am). Please feel free to make comments. {image}

well done

Udine
Sleep less, live fast, as it aint gonna last
  • #17,629
  • Sep 9, 2014 3:10am Sep 9, 2014 3:10am
Udine any thoughts on shorting the EU 1.2860 level? It is a new low after a very long time (possible support point) but it doesn't violate any of the rules.
  • #17,630
  • Sep 9, 2014 3:11am Sep 9, 2014 3:11am
Quoting orangutangas
{quote} Y, i saw at EU was going down and did not broke DO into above, but Frankfurt H1 candle was kinda strong bullish so didn't took that one. Btw, risky as it's 3rd entry + EU previous support @1.2866, but putting half of the trade EU got to TP. {image}

good thinking and you did well...

better safe than sorry...



Udine
Sleep less, live fast, as it aint gonna last
  • #17,631
  • Sep 9, 2014 3:12am Sep 9, 2014 3:12am
Quoting Dave.Z
Udine any thoughts on shorting the EU 1.2860 level? It is a new low after a very long time (possible support point) but it doesn't violate any of the rules.

i will wait for other set ups

Udine
Sleep less, live fast, as it aint gonna last
  • #17,632
  • Sep 9, 2014 3:15am Sep 9, 2014 3:15am
Quoting Udine
{quote} i will wait for other set ups Udine
Yes that's a good idea. Pin bar forming now
  • #17,633
  • Sep 9, 2014 3:15am Sep 9, 2014 3:15am
Quoting Udine
{quote} good thinking and you did well... better safe than sorry... Udine
Appreciate
  • #17,634
  • Sep 9, 2014 3:19am Sep 9, 2014 3:19am
Quoting understandFX
Hello everybody. My trades from today. Looks like I was lucky. But at the same time I am trying to keep up to the rules. All on demo. Placed all pending orders a couple minutes after London open (8am). Please feel free to make comments. {image}
The EU and GU trades you took are classic reversal trades that will form the bread and butter of your trading strategy.

I use this technique very often indeed.

Unfortunately for the GJ trade it could be argued that you are pushing your luck with this trade unless you know for sure that there is enough momentum behind you to hit your TP.

Nice set of trades though!

Masterrmind...........
Master your Mind then Master your Trades
  • #17,635
  • Sep 9, 2014 3:19am Sep 9, 2014 3:19am
Good morning All,

EU short @ 1.28700 + 5pip
My analysis (which might be wrong-please fell free to comment) was that even though there was a minor support level at 1.28671 I felt there was enough momentum for the Euro to go even lower especially as looking at the EJ chart also the Euro was shorting as well.
I also thought that the daily and weekly support level in the 1.28600 area (which is now acting as a support lvl) would act as a support level, hence allowing me to gain the 5 pips.
Thanks
BB
Attached Image (click to enlarge)
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  • #17,636
  • Sep 9, 2014 3:23am Sep 9, 2014 3:23am
Quoting bugyibuci
Good morning All, EU short @ 1.28700 + 5pip My analysis (which might be wrong-please fell free to comment) was that even though there was a minor support level at 1.28671 I felt there was enough momentum for the Euro to go even lower especially as looking at the EJ chart also the Euro was shorting as well. I also thought that the daily and weekly support level in the 1.28600 area (which is now acting as a support lvl) would act as a support level, hence allowing me to gain the 5 pips. Thanks BB {image}
I didn't dare to short 1.2870 as there was an attempt earlier in the day to break that level and it failed to reach TP level.
  • #17,637
  • Sep 9, 2014 3:23am Sep 9, 2014 3:23am
Trade #1

AUDJPY +5 TP

Attached Image (click to enlarge)
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Masterrmind...........
Master your Mind then Master your Trades
  • #17,638
  • Sep 9, 2014 3:27am Sep 9, 2014 3:27am
Quoting Masterrmind
{quote} The EU and GU trades you took are classic reversal trades that will form the bread and butter of your trading strategy. I use this technique very often indeed. Unfortunately for the GJ trade it could be argued that you are pushing your luck with this trade unless you know for sure that there is enough momentum behind you to hit your TP. Nice set of trades though! Masterrmind...........
Thanks for your comments. Regarding GJ ADR shows it was enough room to move and other rules in sync - I am still in process of understanding rules so it could be just pure luck.
  • #17,639
  • Sep 9, 2014 3:31am Sep 9, 2014 3:31am
Another 2 trades, one SL another TP.

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  • #17,640
  • Sep 9, 2014 3:38am Sep 9, 2014 3:38am
Quoting understandFX
Another 2 trades, one SL another TP. {image}

your SL on the EU was not needed...

the correct entry would have been the .700 level on that 1H candle, NOT the .600 level !!

Udine
Sleep less, live fast, as it aint gonna last
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