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As simple as possible: 00 level trading

  • #20,701
  • Nov 5, 2014 2:46am Nov 5, 2014 2:46am
Quoting Masterrmind
{quote} I find this method has its advantages because you risk the same amount of capital over your 10 pip SL range as you would over say 100 pip SL but get the trade right and its all over and done with so much faster and stress-free to an extent when considering 5 pip TP to say a 50 pip TP. Got to love trading! Masterrmind............

Exactly. I am grateful to Udine to make me realize that there is a way to have 10 pip stop.

Now imagine, as you say, get the trade right and then let it run for a while....:nerd:
  • #20,702
  • Nov 5, 2014 2:49am Nov 5, 2014 2:49am
Hello,

I am beginner trader and I've been following this thread for a few days. I am very interested on this trading system and I would like to post here my testing trades with images of course, is that possible?

Greetings from Spain,
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  • #20,703
  • Nov 5, 2014 2:55am Nov 5, 2014 2:55am
Good morning everyone,

Thanks Udine for the wonderful system! I'm slowly browsing through the whole thread in order not to miss any detail.
I've just had my first two trades on this system:
- long USDCHF +5.6p
- stopped out on long EURJPY -10p.
Could you guys take a look please and say what was wrong about that EJ trade setup?
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  • #20,704
  • Nov 5, 2014 3:06am Nov 5, 2014 3:06am
eurjpy +1 ts
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  • #20,705
  • Nov 5, 2014 3:09am Nov 5, 2014 3:09am
Quoting sEit89
Hello, I am beginner trader and I've been following this thread for a few days. I am very interested on this trading system and I would like to post here my testing trades with images of course, is that possible? Greetings from Spain, {image}
Welcome sEit89,

Pls switch to M15 or H1 timeframe on your chart.
I´d also suggest to change the ASH values to 0,5,4,3,0,1,3.

flx69
  • #20,706
  • Nov 5, 2014 3:12am Nov 5, 2014 3:12am
Quoting Masterrmind
Trade #2 GBPJPY +5 TP {image} Comment: nice and fast... Done for the day! Masterrmind...........
Nice MM !!!
Whilst I am still waiting on the sidelines, you already have your green pips in the pocket

flx69
  • #20,707
  • Nov 5, 2014 3:24am Nov 5, 2014 3:24am
Quoting flx69
{quote} Nice MM !!! Whilst I am still waiting on the sidelines, you already have your green pips in the pocket flx69
Yes but I am furiously analysing the charts for the next setup....

I hope to see you posting your TP charts very soon my friend....

Good Trading to you....

Masterrmind.............
Master your Mind then Master your Trades
  • #20,708
  • Nov 5, 2014 3:26am Nov 5, 2014 3:26am
another stop loss ....
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  • #20,709
  • Nov 5, 2014 3:29am Nov 5, 2014 3:29am
Quoting sEit89
Hello, I am beginner trader and I've been following this thread for a few days. I am very interested on this trading system and I would like to post here my testing trades with images of course, is that possible? Greetings from Spain, {image}

Hola que tal???

off course... with charts always..

Udine
Sleep less, live fast, as it aint gonna last
  • #20,710
  • Nov 5, 2014 3:33am Nov 5, 2014 3:33am
Quoting rochild
another stop loss .... {image}
@Rochild
Look how many 00-levels down from the DO you took your trade... From level 3/4 onwards, unless your a heavy weight trader, it´s not exactly stacking the possibilities in your favour. And although Support and Resistance are not part of this system, DS1 was at 2 pips from your pending order...

flx69
  • #20,711
  • Nov 5, 2014 3:34am Nov 5, 2014 3:34am
one more time always against me
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  • #20,712
  • Nov 5, 2014 3:35am Nov 5, 2014 3:35am
Quoting flx69
{quote} Welcome sEit89, Pls switch to M15 or H1 timeframe on your chart. I´d also suggest to change the ASH values to 0,5,4,3,0,1,3. flx69
Thank you flx69,

Can you explain me about the suggested ASH new values please? More reliable?

Trade #2 and done for today, USDCHF:
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  • #20,713
  • Nov 5, 2014 3:37am Nov 5, 2014 3:37am
Quoting flx69
{quote} @Rochild Look how many 00-levels down from the DO you took your trade... From level 3/4 onwards, unless your a heavy weight trader, it´s not exactly stacking the possibilities in your favour. And although Support and Resistance are not part of this system, DS1 was at 2 pips from your pending order... flx69
and yet i'm following the rules
  • #20,714
  • Nov 5, 2014 3:39am Nov 5, 2014 3:39am
Just a little hint when analyzing charts. :nerd:
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  • #20,715
  • Nov 5, 2014 3:44am Nov 5, 2014 3:44am
Quoting rochild
one more time always against me {image}
@Rochild

1. Same story, you took a trade many many levels up from the DO.
2. Switch to H4, zoom out to the max and look at the yearly high in 2010, 2011, 2012, 2014...

flx69
  • #20,716
  • Edited 4:10am Nov 5, 2014 3:55am | Edited 4:10am
NU short +10, after a nice candle formation


Edit: this happened after. It is happening again , again , again.
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  • #20,717
  • Nov 5, 2014 3:55am Nov 5, 2014 3:55am
Quoting rochild
{quote} and yet i'm following the rules

the art of trading is to find low risk entries for high probabilities of wins..

the rules of the system are the basics... now if you have logged all your trades in a tradejournal, with pics, you should be able to come up with usefull info of when to enter and when not..

if you dont have a tradejournal.. stop trading and start a journal...

Udine
Sleep less, live fast, as it aint gonna last
  • #20,718
  • Nov 5, 2014 4:05am Nov 5, 2014 4:05am
Quoting Udine
{quote} the art of trading is to find low risk entries for high probabilities of wins.. the rules of the system are the basics... now if you have logged all your trades in a tradejournal, with pics, you should be able to come up with usefull info of when to enter and when not.. if you dont have a tradejournal.. stop trading and start a journal... Udine

if you dont have a tradejournal.. stop trading and start a journal... :nerd:


That is so true. I take print of each trade with result and mark it in description. Put it in folder separate for each day. Folder marked what day was it during week to be able to see whether some days are better. NOTE: and they are....
  • #20,719
  • Nov 5, 2014 4:37am Nov 5, 2014 4:37am
Quoting snail69
{quote} if you dont have a tradejournal.. stop trading and start a journal... :nerd: That is so true. I take print of each trade with result and mark it in description. Put it in folder separate for each day. Folder marked what day was it during week to be able to see whether some days are better. NOTE: and they are....



Udine
Sleep less, live fast, as it aint gonna last
  • #20,720
  • Nov 5, 2014 4:39am Nov 5, 2014 4:39am
trading is business, so you need to write down everything to see where your edge is... and maximize that edge..

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