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As simple as possible: 00 level trading

  • #20,321
  • Oct 27, 2014 6:48am Oct 27, 2014 6:48am
Quoting Meta1
{quote} Juan: please look for my answer at page 1009 and post 20.176
thanks a lot Meta 1 and Alorente
  • #20,322
  • Oct 27, 2014 7:14am Oct 27, 2014 7:14am
Hi everyone,

Been a while since the last time i had time to trade. My trades today:

Trade #1 and #2 EURAUD to TP
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Trade #3 EURJPY to TP
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Antonis
  • #20,323
  • Oct 27, 2014 7:16am Oct 27, 2014 7:16am
Quoting Morcos
{quote} And what if the DO is 1.27000, the opening price of the hour is 1.26850, then the price moves up to 1.26950, then goes down to 1.26800? The first 00 level is 1.26900 in this example. Is 1.26800 is still valid for a short entry? So can we say more precisly that the first 00 level in the daily trend's direction of the hour can be tradable?

the 1.26800 is the first 00 level

Udine
Sleep less, live fast, as it aint gonna last
  • #20,324
  • Oct 27, 2014 7:19am Oct 27, 2014 7:19am
Today:

AudUsd: +5 TP
AudUsd: -10 SL
EurCad: -10 SL
EurGbp: +5 TP
AudUsd: +5 TP
AudCad: +5 TP
EurCad: -10 SL
EurUsd: -10 SL

Now open:
UsdCad, AudUsd

Today: -20
Observation is the path to discovery.
  • #20,325
  • Oct 27, 2014 7:37am Oct 27, 2014 7:37am
Quoting Alorente
Today: AudUsd: +5 TP AudUsd: -10 SL EurCad: -10 SL EurGbp: +5 TP AudUsd: +5 TP AudCad: +5 TP EurCad: -10 SL EurUsd: -10 SL Now open: UsdCad, AudUsd Today: -20
Hi Al, Remember the rules 'after 4 losses close the trades and start again tommorow' ? .... :-)
  • #20,326
  • Oct 27, 2014 8:03am Oct 27, 2014 8:03am
Today:

AudUsd: +5 TP
AudUsd: -10 SL
EurCad: -10 SL
EurGbp: +5 TP
AudUsd: +5 TP
AudCad: +5 TP
EurCad: -10 SL
EurUsd: -10 SL
AudUsd: +5 TP

Now open:
UsdCad, AudCad, EurGbp

Today: -15
Observation is the path to discovery.
  • #20,327
  • Oct 27, 2014 8:09am Oct 27, 2014 8:09am
Today:

AudUsd: +5 TP
AudUsd: -10 SL
EurCad: -10 SL
EurGbp: +5 TP
AudUsd: +5 TP
AudCad: +5 TP
EurCad: -10 SL
EurUsd: -10 SL
AudUsd: +5 TP
UsdCad: +5 TP

Now open:
AudCad, EurGbp

Today: -10
Observation is the path to discovery.
  • #20,328
  • Oct 27, 2014 8:19am Oct 27, 2014 8:19am
Quoting Alorente
Today: AudUsd: +5 TP AudUsd: -10 SL EurCad: -10 SL EurGbp: +5 TP AudUsd: +5 TP AudCad: +5 TP EurCad: -10 SL EurUsd: -10 SL AudUsd: +5 TP UsdCad: +5 TP Now open: AudCad, EurGbp Today: -10
Don't forget commissions. It's a lot of money. When by pips you break even but by money you lose.
Thanks for your work. Great job!
  • #20,329
  • Oct 27, 2014 8:39am Oct 27, 2014 8:39am
Quoting Alorente
Today: AudUsd: +5 TP AudUsd: -10 SL EurCad: -10 SL EurGbp: +5 TP AudUsd: +5 TP AudCad: +5 TP EurCad: -10 SL EurUsd: -10 SL AudUsd: +5 TP UsdCad: +5 TP Now open: AudCad, EurGbp Today: -10
Wish you you good luck today. Now my GBP/JPY is still open.
Trade at your own risk. Don't follow one's opinion.
  • #20,330
  • Oct 27, 2014 9:06am Oct 27, 2014 9:06am
Quoting musicant
{quote} Don't forget commissions. It's a lot of money. When by pips you break even but by money you lose. Thanks for your work. Great job!
I have an ECN Broker and spreads and commission are taken into account. These numbers are net.
Observation is the path to discovery.
  • #20,331
  • Oct 27, 2014 9:08am Oct 27, 2014 9:08am
Good luck everyone.

Time to rest

Masterrmind............
Master your Mind then Master your Trades
  • #20,332
  • Oct 27, 2014 9:10am Oct 27, 2014 9:10am
Today:

AudUsd: +5 TP
AudUsd: -10 SL
EurCad: -10 SL
EurGbp: +5 TP
AudUsd: +5 TP
AudCad: +5 TP
EurCad: -10 SL
EurUsd: -10 SL
AudUsd: +5 TP
UsdCad: +5 TP
AudUsd: -10 SL

Now open:
AudCad, EurGbp, UsdCad

Today: -20
Observation is the path to discovery.
  • #20,333
  • Oct 27, 2014 9:12am Oct 27, 2014 9:12am
Quoting Alorente
{quote} I have an ECN Broker and spreads and commission are taken into account. These numbers are net.
Hi.

Does that mean your TP is 5 pips + spread + commision? And you SL is 10 pips - spread - commission?
  • #20,334
  • Oct 27, 2014 9:28am Oct 27, 2014 9:28am
Today:

AudUsd: +5 TP
AudUsd: -10 SL
EurCad: -10 SL
EurGbp: +5 TP
AudUsd: +5 TP
AudCad: +5 TP
EurCad: -10 SL
EurUsd: -10 SL
AudUsd: +5 TP
UsdCad: +5 TP
AudUsd: -10 SL
AudCad: +5 TP

Now open:
EurGbp, UsdCad

Today: -15
Observation is the path to discovery.
  • #20,335
  • Oct 27, 2014 9:44am Oct 27, 2014 9:44am
Quoting rcsltd
{quote} Hi. Does that mean your TP is 5 pips + spread + commision? And you SL is 10 pips - spread - commission?
Yes.

OK, guys. Having lost 7% of the account in 3 days. Itīs time for me to say good bye. I have tried many systems over the years and I can tell when my time to move on has arrived.

Thanks Udine and good luck to all with your trading in the future.

Today:

AudUsd: +5 TP
AudUsd: -10 SL
EurCad: -10 SL
EurGbp: +5 TP
AudUsd: +5 TP
AudCad: +5 TP
EurCad: -10 SL
EurUsd: -10 SL
AudUsd: +5 TP
UsdCad: +5 TP
AudUsd: -10 SL
EurGbp: -10 SL
UsdCad: -10 SL

Now open:


Today: -40
Observation is the path to discovery.
  • #20,336
  • Oct 27, 2014 10:08am Oct 27, 2014 10:08am
Too much experimenting going on. Step back. Read Udine's post #1. Review, Udine's trades, Review, Mastermind's trades, Review Jibala's trades. I see no reason why 1 trade a day or 2 trades a day is so difficult. This system is about what "not" to take. Unfortunately, every level is not needed to be traded. People have adapted the system to suit themselves and they post it here....nothing wrong with that. But, at the end of the day....keep it slow and steady all. Plan to live for tomorrow. The market will be around even if we are not.

PDF: Patience, Discipline, Focus
BCC: Belief, Consistency, Confidence

Simple as that!

Just trying to help everyone...thats all.
  • #20,337
  • Oct 27, 2014 10:51am Oct 27, 2014 10:51am
So on Friday I was up around 830, place trades for the 9am hour and was done at approximately 9:15.
Today I woke up a little late due to a long weekend and haven't been able to find a trade I'd like to take. It's amazing how much more the market moves during the NY open and London end rather than NY lunch time.

I read up on the NY market hours as Masterrmind suggested and from what I've gathered it's best to trade between 9-11am and 2-4pm during the New York session. Could you verify that I'm correct Masterrmind?

Thanks a bunch!
  • #20,338
  • Oct 27, 2014 12:27pm Oct 27, 2014 12:27pm
tomorrow guys, girls

Udine
Sleep less, live fast, as it aint gonna last
  • #20,339
  • Oct 27, 2014 1:12pm Oct 27, 2014 1:12pm
I am new to this . system, i have everything running and read the rules, Mastermind or any one else cant get me the Psylevels dashboard v1 indicator and that other indicator bar indicator at the bottom of the charts. thanks
FREEDOM IS NOT FREE
  • #20,340
  • Oct 27, 2014 2:14pm Oct 27, 2014 2:14pm
Quoting tantor1973
I am new to this . system, i have everything running and read the rules, Mastermind or any one else cant get me the Psylevels dashboard v1 indicator and that other indicator bar indicator at the bottom of the charts. thanks

Hello,
you can find here all what you want :

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