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As simple as possible: 00 level trading

  • #19,221
  • Oct 6, 2014 6:08am Oct 6, 2014 6:08am
Quoting flx69
{quote} Why are you setting a pending sell order if; - there´s no clear trend yet - if S/L of your pending order gets hit, it is on the other side of the D.O. flx69
Because in the rules there is not such a rule. if there is no trend do not trade. is it right??
and I cant find any rule that says if S/L of your pending order gets hit on the other side of D.O do not trade.
  • #19,222
  • Oct 6, 2014 6:13am Oct 6, 2014 6:13am
Quoting griffinssoul
{quote} I would also read this arianptc01 ; post 879: http://www.forexfactory.com/showthre...59#post7521659 (why people dont succeed in forex) and build a trading plan - like its your business - this includes protocol & procedure to follow when things go wrong. The rules as shown by Qed are just one part of trading.
very good information. Thank you griffns..
Actually I have a plan, it is to make 10 pips a day and I will stop trading if I get 4 losing trade a day. but what I have posted recently(my trades) I believe all of them were right and according to rules.
but funny thing is no one took that trades or maybe they did but did not post here. is there any secret rule that I am not aware of?
Arian
  • #19,223
  • Oct 6, 2014 6:23am Oct 6, 2014 6:23am
Trade #8 GBPJPY TP.

Attached Image (click to enlarge)
Click to Enlarge Name: Ashampoo_Snap_2014.10.06_19h19m52s_015_.png Size: 28 KB


Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #19,224
  • Oct 6, 2014 6:26am Oct 6, 2014 6:26am
Quoting arianptc01
{quote} what you mean by not right time?? also I have sent you a pm please check it. also H4 candle was red daily was red and H1 was red as well and I have entered short.
It just means, the battles you want to win you have to choose wisely and also the time, when you start your fight!

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #19,225
  • Oct 6, 2014 6:34am Oct 6, 2014 6:34am
IF you look at your chart again is there ANYTHING you can see that would make you wait for a bit better setup?
Whats That? you're trading What?
  • #19,226
  • Oct 6, 2014 6:37am Oct 6, 2014 6:37am
maybe like the fact u had big green engulfing candle at bottom, was your trade at the hourly open or close too it?does it really look like the downtrend is continuing?
Whats That? you're trading What?
  • #19,227
  • Oct 6, 2014 6:40am Oct 6, 2014 6:40am
Trade #2 o/t day: UCHF to TP.

Grand total: 10.5 pips.

flx69
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  • #19,228
  • Oct 6, 2014 6:41am Oct 6, 2014 6:41am
Quoting Qed
maybe like the fact u had big green engulfing candle at bottom, was your trade at the hourly open or close too it?does it really look like the downtrend is continuing?
Great question and observation Qed. There's even a bit of a morning star forming there (I think, if I could see the chart clearly). Over extended to the downside from the (local) pivot high... etc. A two legged - measured move (ABCD) that just drop short of his entry... many problems... or more precisely, a low probability trade
  • #19,229
  • Oct 6, 2014 6:47am Oct 6, 2014 6:47am
ok heres how I see it .
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Whats That? you're trading What?
  • #19,230
  • Oct 6, 2014 6:49am Oct 6, 2014 6:49am
Trade #9 USDCHF TP.

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Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #19,231
  • Oct 6, 2014 6:56am Oct 6, 2014 6:56am
Quoting Qed
ok heres how I see it . {image}
Nice analysis there Qed and a clear chart! And as Udine says there are many trades in the week so there is no rush.
  • #19,232
  • Oct 6, 2014 7:01am Oct 6, 2014 7:01am
thanx Griff , and yep thats the hardest part waiting for the best setup.everytime I look at my screen I see the note stuck right in front of me "NO [email protected] NO long @.900"
Whats That? you're trading What?
  • #19,233
  • Oct 6, 2014 7:07am Oct 6, 2014 7:07am
does anyone else see pin bar just formed last hourly candle, Ill be watching for cross of DO woops too late/ maybe not pending sell stop 137.200 see how we go
Whats That? you're trading What?
  • #19,234
  • Oct 6, 2014 7:10am Oct 6, 2014 7:10am
Quoting arianptc01
{quote} what you mean by not right time??
Now the right time had come!

Trade #10 USDCAD TP.

Attached Image (click to enlarge)
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Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #19,235
  • Oct 6, 2014 7:13am Oct 6, 2014 7:13am
Trade #3 TP +5 - Done for the day.
Attached Image (click to enlarge)
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Porta itineris dicitur longissima esse
  • #19,236
  • Oct 6, 2014 7:13am Oct 6, 2014 7:13am
Quoting JibalaPasan
{quote} Now the right time had come! Trade #10 USDCAD TP. {image} Jibala
  • #19,237
  • Oct 6, 2014 7:14am Oct 6, 2014 7:14am
WD B ..
Whats That? you're trading What?
  • #19,238
  • Oct 6, 2014 7:32am Oct 6, 2014 7:32am
cancelled my pending "sell stop" @ 137.200 1.2 way thru the hour and last hrly candle is no longer valid "pin bar " candle so thats it ..time to call it a day Good Fortune to those still prowling Q
Whats That? you're trading What?
  • #19,239
  • Oct 6, 2014 7:39am Oct 6, 2014 7:39am
Hi MM I don't see USDCAD and USDCHF in your pairs list. Is there any reasong for this choice ?

Best,
Bubincka
Porta itineris dicitur longissima esse
  • #19,240
  • Oct 6, 2014 7:46am Oct 6, 2014 7:46am
Quoting Qed
cancelled my pending "sell stop" @ 137.200 (""sell stop"@137.200") 1.2 way thru the hour and last hrly candle is no longer valid "pin bar " candle so thats it ..time to call it a day Good Fortune to those still prowling Q
Good choice for the moment because the relation is almost 1:1

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
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