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As simple as possible: 00 level trading

  • #20,881
  • Nov 6, 2014 11:13pm Nov 6, 2014 11:13pm
Quoting FlaMe1
Hello traders! Firstly, i would like to thank Udine for sharing such valuble information. I've came across the thread a month ago and immediately started reading with caution. I finally broke through and i feel i am ready to jump into discussion, post my trades and somehow contribute to Udine's community From this day i am starting with demo account, logging my journal and saving screenshots of every trade i'll take. Before i start i need some clarification: 1. Are you still allowed to enter only 1 trade per hour or do new rules allow you to...
All rules still apply.

Irrespective of whether you use an M15 or H1 TF the rules are the rules..... 1 trade per pair per hour!

OCO for pending order cancellation available in the script......

Masterrmind...........
Master your Mind then Master your Trades
  • #20,882
  • Nov 6, 2014 11:46pm Nov 6, 2014 11:46pm
Trade #5 [Bonus trade #3]

AUDUSD +5 TP

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 47 KB


Comment: Straight out of Frankfurt

Masterrmind...........
Master your Mind then Master your Trades
  • #20,883
  • Nov 6, 2014 11:57pm Nov 6, 2014 11:57pm
Good morning all,

Masterrmind, offcourse you noticed a lot (most) off your trades go to +10 TP as well, have you thought about changing the TP to 10 pips?
Persistence will get it. Consistency will keep it.
  • #20,884
  • Nov 7, 2014 12:05am Nov 7, 2014 12:05am
Quoting Chake
Good morning all, Masterrmind, offcourse you noticed a lot (most) off your trades go to +10 TP as well, have you thought about changing the TP to 10 pips?
Many times the trades would go 10 pips that's true however on this thread it is unlikely that Udine would suggest such a change.

Why change something that isn't broken?

You will find as you analyse hundreds if not thousands of charts that there will never be an optimal TP setting for a certain pair over all time. The fact is that the data of a given currency pair changes and what was hot for 10 pips this month might cook the goose that laid the golden egg the following month.

Away from this thread I also trade other methods where my SL and TP are based more dynamically on the chart but that's another story and no need to elaborate here except to say it works well for me over longer trading intervals.

The 00 method with the 10pipSL and 5pipTP has worked wonders for me so at this stage I have no reason to change it.

ps. sometimes I do use a 6 pip TP!

Good trading,

Masterrmind.............
Master your Mind then Master your Trades
  • #20,885
  • Nov 7, 2014 12:07am Nov 7, 2014 12:07am
Quoting Masterrmind
{quote} Many times the trades would go 10 pips that's true however on this thread it is unlikely that Udine would suggest such a change. Why change something that isn't broken? You will find as you analyse hundreds if not thousands of charts that there will never be an optimal TP setting for a certain pair over all time. The fact is that the data of a given currency pair changes and what was hot for 10 pips this month might cook the goose that laid the golden egg the following month. Away from this thread I also trade other methods where my SL and...
Hi, green friday for ALL.

Never change a running system!!

Thanks Udine!


Greetz Michael
  • #20,886
  • Nov 7, 2014 12:10am Nov 7, 2014 12:10am
Mastermind, do you use trailing stop or fixed TP?
  • #20,887
  • Nov 7, 2014 12:13am Nov 7, 2014 12:13am
Muy buenos días familia,

Excellent start of a Friday.

Trade #1 and #2: EA and GA to TP.

flx69
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  • #20,888
  • Nov 7, 2014 12:14am Nov 7, 2014 12:14am
Quoting Olarion1975
Mastermind, do you use trailing stop or fixed TP?
Fixed TP at present (I have turned the TS off..........it's likely to stay turned off because I haven't looked back since doing so)

Masterrmind.............
Master your Mind then Master your Trades
  • #20,889
  • Nov 7, 2014 12:16am Nov 7, 2014 12:16am
Morning guys,
I think the 00 level buy/sell script is nice and fast but it is coded in ex4 so I can't edit it. Is there a way to make it for the 50 and 00 levels and a separate one for buy and one for sell, to be able to set the fast key for fast buy and sell entries at the specific levels??

Hope everyone has a green day.

Cheers
  • #20,890
  • Nov 7, 2014 12:17am Nov 7, 2014 12:17am
Trade #3 o/t day: NJ out by TS. +1 pip.

flx69
Attached Image (click to enlarge)
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  • #20,891
  • Nov 7, 2014 12:22am Nov 7, 2014 12:22am
Trade #1
Eur Aud; TP; +5 pips

http://s16.postimg.org/x2mn34d4l/01_EURAUDM15.png
free adult image hosting


Trade #2
Aud Usd; TP; +5 pips

http://s1.postimg.org/id3s8v77z/02_AUDUSDM15.png
image hosting

Any comments?
I guess everything was according to the rules.

D
  • #20,892
  • Nov 7, 2014 12:24am Nov 7, 2014 12:24am
Trade #6 [Bonus trade #4]

GBPCHF +5 TP

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 40 KB


Masterrmind...........
Master your Mind then Master your Trades
  • #20,893
  • Nov 7, 2014 12:31am Nov 7, 2014 12:31am
Hi all

My done trades dont show correctly on the chart, the entry point shows almost off screen, did anyone have this problem??


Asmodai
  • #20,894
  • Nov 7, 2014 12:34am Nov 7, 2014 12:34am
Good morning Udine, MM and others fellow traders, in the modified 00 --> 50 trading you must have H1, H4 and D1 of the same color or only H1 and D1 ?

Best,
Bubincka
Porta itineris dicitur longissima esse
  • #20,895
  • Nov 7, 2014 12:36am Nov 7, 2014 12:36am
You must be running at 20% this week Mastermind
Early bird catches the worm
  • #20,896
  • Nov 7, 2014 12:40am Nov 7, 2014 12:40am
Quoting raylin
You must be running at 20% this week Mastermind Early bird catches the worm
It's all to do with timing my friend and analysing the good old charts.

Profit % gain is really great this week!

Thanks for asking!

Masterrmind...........
Master your Mind then Master your Trades
  • #20,897
  • Nov 7, 2014 12:44am Nov 7, 2014 12:44am
Quoting Masterrmind
{quote} Many times the trades would go 10 pips that's true however on this thread it is unlikely that Udine would suggest such a change. Why change something that isn't broken? ........... Good trading, Masterrmind.............
Thanks MM, it's true, next month can be quit differend. 5 pips is all you need.
Persistence will get it. Consistency will keep it.
  • #20,898
  • Nov 7, 2014 12:44am Nov 7, 2014 12:44am
As I said while back Ts stop is for those with no discipline except the brokers .... they disciplined SL takers LOL ... IF ur gonna run with no TS you need to have the discipline of MM..
Whats That? you're trading What?
  • #20,899
  • Nov 7, 2014 12:47am Nov 7, 2014 12:47am
Quoting Chake
{quote} Thanks MM, it's true, next month can be quit differend. 5 pips is all you need.
Yes but the temptation is always there to try and grab more........enter GREED!

Watch for the signs!

Masterrmind............
Master your Mind then Master your Trades
  • #20,900
  • Nov 7, 2014 12:49am Nov 7, 2014 12:49am
Quoting Qed
As I said while back Ts stop is for those with no discipline except the brokers .... they disciplined SL takers LOL ... IF ur gonna run with no TS you need to have the discipline of MM..
Agreed!

Best to use TS for insurance purposes until you reach a level where you think you can do better! Only the individual can guage where that level might be...........

Good trading!

Masterrmind...........
Master your Mind then Master your Trades
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