As simple as possible: 00 level trading | Page 886 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

SIMPLE EA for a simple method needed!! 2 replies

As simple as possible: RENKO M5 trading 75 replies

Trading is this Simple? Finally Explained simple and clearly! 46 replies

Simple Level Trading 1 reply

Trading: As simple as possible, but no simpler - by a real Cityboy 92 replies

Attachments: As simple as possible: 00 level trading
Exit Attachments

As simple as possible: 00 level trading

  • #17,701
  • Sep 9, 2014 8:25am Sep 9, 2014 8:25am
Quoting bugyibuci
{quote} I was contemplating to take this one as well but I took EU instead as I saw higher probability reaching 5 pips, however since then the price retraced but managed to gain 5 pips so I am done for the day as well. Good luck for anyone else still trading BB. {image}

I did not take the EU, because the ASH (Absolute Strenght Histo) was still green

Udine
Attached Image
Sleep less, live fast, as it aint gonna last
  • #17,702
  • Sep 9, 2014 8:30am Sep 9, 2014 8:30am
Quoting Udine
{quote} I did not take the EU, because the ASH (Absolute Strenght Histo) was still green Udine {image}
Would you mind sharing ASH settings? With latest that i downloaded from this forum i see red candle.
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 106 KB
  • #17,703
  • Sep 9, 2014 8:32am Sep 9, 2014 8:32am
Quoting Udine
{quote} I did not take the EU, because the ASH (Absolute Strenght Histo) was still green Udine {image}
I see, it is nice to see it from your angle. Noted. Thanks
  • #17,704
  • Sep 9, 2014 8:38am Sep 9, 2014 8:38am
Quoting orangutangas
{quote} Would you mind sharing ASH settings? With latest that i downloaded from this forum i see red candle. {image}

Sure,

0/5/4/3/0/1/3

cheers

Udine
Sleep less, live fast, as it aint gonna last
  • #17,705
  • Edited 8:54am Sep 9, 2014 8:41am | Edited 8:54am
Hi,
Firstly, thanks Udine for the great thread, and to the others for excellent contributions.
I have been trading on and off, without much success, over the last few years without any real determination.
This method appeals to me because I don't wish to spend all in front of a computer, and I return with
Two hours or so around the London and New York opens sounds ideal.
After reading a few hundred pages (I am still reading), I believe I have a thorough enough understanding to do some demo trading.
I also hopefully have a thorough understanding of the rules.
I've seen that it takes screen time and research to develop what seems to be a 'feel' for which trades to take and which trades to skip.
While still sorting out my demo account, I have attached some charts from the NY open today (I used arrows to represent trade opens)

1. EU Long - Looked risky. Price broke through DO and RN and was in confluence with EJ at the time.

Attached Image (click to enlarge)
Click to Enlarge Name: 09-09-14 EU.jpg Size: 132 KB


2. GU Long - Rejection of RN and DO. Confluence with GJ at the time.

Attached Image (click to enlarge)
Click to Enlarge Name: 09-09-14 GU.jpg Size: 154 KB


NB. I know the spreads are high. I am in the process of transferring to an ECN account, which has spreads of around 1pip lower.

Edit: Have inserted ASH into charts. Cheers

Thanks.
  • #17,706
  • Sep 9, 2014 8:43am Sep 9, 2014 8:43am
Quoting Udine
{quote} Sure, 0/5/4/3/0/1/3 cheers Udine
Thank you once again being so kind to us
  • #17,707
  • Sep 9, 2014 8:51am Sep 9, 2014 8:51am
Quoting orangutangas
{quote} Thank you once again being so kind to us
you're welcome

Udine
Sleep less, live fast, as it aint gonna last
  • #17,708
  • Sep 9, 2014 9:15am Sep 9, 2014 9:15am
Quoting finfresh
Hi, Firstly, thanks Udine for the great thread, and to the others for excellent contributions. I have been trading on and off, without much success, over the last few years without any real determination. This method appeals to me because I don't wish to spend all in front of a computer, and I return with Two hours or so around the London and New York opens sounds ideal. After reading a few hundred pages (I am still reading), I believe I have a thorough enough understanding to do some demo trading. I also hopefully have a thorough understanding...

Welcome Finfresh,

1. EU was not according to the rules, as it was not the first 00 level cross
2. GU well done

cheers

Udine
Sleep less, live fast, as it aint gonna last
  • #17,709
  • Sep 9, 2014 9:25am Sep 9, 2014 9:25am
Quoting Udine
{quote} Welcome Finfresh, 1. EU was not according to the rules, as it was not the first 00 level cross 2. GU well done cheers Udine
Ah, I can't believe I overlooked rule 2.
Maybe because I knew I couldn't trade the previous level because of rule 6 and the level was sort of hidden below the DO.
I will be more careful in future. I'll do the burpees anyway (even though I didn't trade it).
Thanks.
  • #17,710
  • Sep 9, 2014 10:02am Sep 9, 2014 10:02am
I just discovered this great thread, looks like a great system, after reading and reading pages and more pages ... I will put 2 trades. i think are good.
To follow the rules correctly, EJ only open in 137.10? we can not open either 136.9 or 137.0?
wukar wb train EA 1.2.3 not working? I did not open any office.

pd: sorry for my bad english.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURJPYM15.JPG Size: 92 KB
Click to Enlarge Name: GBPJPYM15.JPG Size: 101 KB
  • #17,711
  • Sep 9, 2014 10:13am Sep 9, 2014 10:13am
Quoting Clipi
I just discovered this great thread, looks like a great system, after reading and reading pages and more pages ... I will put 2 trades. i think are good. To follow the rules correctly, EJ only open in 137.10? we can not open either 136.9 or 137.0? wukar wb train EA 1.2.3 not working? I did not open any office. pd: sorry for my bad english. {image} {image}

Clipi,

you can enter on 137.0...

136.9 is mentioned in the rules !!

Udine
Sleep less, live fast, as it aint gonna last
  • #17,712
  • Sep 9, 2014 10:50am Sep 9, 2014 10:50am
Quoting Udine
GU to TP Daily target reached done for the day... lots of patience needed Udine {image}
In the beginning I thought that with this system I could do it staying only a couple of hours in front of the PC. Now, as time goes by, I understand that just like any other discretionary system you need to look at the market much more, to catch the best setups. Anyway still less than other strategies and definetely easier.
Porta itineris dicitur longissima esse
  • #17,713
  • Sep 9, 2014 10:55am Sep 9, 2014 10:55am
ok I am out of here.. speak tomorrow

cheers and stay green

Udine
Sleep less, live fast, as it aint gonna last
  • #17,714
  • Sep 9, 2014 11:24am Sep 9, 2014 11:24am
Out of here too.

All the best for the rest of the trading day!

Time to rest!

Masterrmind............
Master your Mind then Master your Trades
  • #17,715
  • Sep 9, 2014 12:52pm Sep 9, 2014 12:52pm
Hi everyone! Here is my only trade I took today. TP +5pip. Took it becouse of nice retracement from DO. Nice to see, that others also took that trade, wich means I am heading the right direction
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM15.png Size: 42 KB


See you tomorrow!
  • #17,716
  • Sep 9, 2014 3:07pm Sep 9, 2014 3:07pm
Quoting modeco
Hi everyone! Here is my only trade I took today. TP +5pip. Took it becouse of nice retracement from DO. Nice to see, that others also took that trade, wich means I am heading the right direction {image} See you tomorrow!
ASH is green, would have to be red? the operation would not be correct ..

im learning...
  • #17,717
  • Sep 9, 2014 11:05pm Sep 9, 2014 11:05pm
Is it just me, or does the Asian market seem to be more active tonight?

pgq
  • #17,718
  • Sep 10, 2014 12:21am Sep 10, 2014 12:21am
Eurjpy tp
gbpjpy tp
Attached Image
The problem is not giving offence but taking offence!
  • #17,719
  • Sep 10, 2014 12:53am Sep 10, 2014 12:53am
Good day everyone. May the pips smile on you this Frankfurt open
  • #17,720
  • Sep 10, 2014 1:02am Sep 10, 2014 1:02am
is it possible to trade to Frankfurt?
8 traders viewing now