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As simple as possible: 00 level trading

  • #21,241
  • Nov 12, 2014 8:43am Nov 12, 2014 8:43am
trade #2 +5
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  • #21,242
  • Nov 12, 2014 8:48am Nov 12, 2014 8:48am
GJ hit SL -10
Classic M15 setup, but RmDn negative, no momentum and support on the way down. My bad, after a serie of positive trends you need to calm down.
Anyway it went down, but only after my SL.
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  • #21,243
  • Nov 12, 2014 8:50am Nov 12, 2014 8:50am
Quoting Stingr
GJ hit SL -10 Classic M15 setup, but RmDn negative, no momentum and support on the way down. My bad, after a serie of positive trends you need to calm down. Anyway it went down, but only after my SL. {image}

not worth to look at if RmDn has already been reached..

entry is NOT LOW RISK !!!!

Udine
Sleep less, live fast, as it aint gonna last
  • #21,244
  • Nov 12, 2014 9:03am Nov 12, 2014 9:03am
Quoting Udine
{quote} not worth to look at if RmDn has already been reached.. entry is NOT LOW RISK !!!! Udine
  • #21,245
  • Nov 12, 2014 9:43am Nov 12, 2014 9:43am
again EU to TP

Udine
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Sleep less, live fast, as it aint gonna last
  • #21,246
  • Nov 12, 2014 9:47am Nov 12, 2014 9:47am
trade #3 long +5
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  • #21,247
  • Nov 12, 2014 9:52am Nov 12, 2014 9:52am
usd/jpy 1 lost 1 win. i wasn't patient enough as regards the lost trade
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  • #21,248
  • Nov 12, 2014 9:58am Nov 12, 2014 9:58am
Quoting justomonla
usd/jpy 1 lost 1 win. i wasn't patient enough as regards the lost trade {image}

why did you go short on the first one (the loser) ??

the HA was not red...

Udine
Sleep less, live fast, as it aint gonna last
  • #21,249
  • Nov 12, 2014 9:59am Nov 12, 2014 9:59am
Quoting Udine
again EU to TP Udine {image}
Even on hard days like today M15 variant is able to find valid setups. The downside is that it requires many more screen hours, but it may be well worth it.
Porta itineris dicitur longissima esse
  • #21,250
  • Nov 12, 2014 10:03am Nov 12, 2014 10:03am
Quoting bubincka
{quote} Even on hard days like today M15 variant is able to find valid setups. The downside is that it requires many more screen hours, but it may be well worth it.

just get 2 winners and close the platform.. and come back tomorrow

Udine
Sleep less, live fast, as it aint gonna last
  • #21,251
  • Nov 12, 2014 10:15am Nov 12, 2014 10:15am
2 trades. done. till tomorrow.
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Pivot Boss in the making~
  • #21,252
  • Nov 12, 2014 10:15am Nov 12, 2014 10:15am
Quoting Udine
{quote} why did you go short on the first one (the loser) ?? the HA was not red... Udine
yeah i saw it,my mistake.thanks very much for everything
  • #21,253
  • Nov 12, 2014 10:17am Nov 12, 2014 10:17am
Quoting jurn_e
2 trades. done. till tomorrow. {image}
Watch out for the RGH and RgL.The second trade was under the RgL line.
  • #21,254
  • Nov 12, 2014 10:20am Nov 12, 2014 10:20am
would have placed a sell short at 1.10600 but run down is already red
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  • #21,255
  • Nov 12, 2014 10:25am Nov 12, 2014 10:25am
Quoting Udine
{quote} just get 2 winners and close the platform.. and come back tomorrow Udine
I think for a newbie it's not that easy to stop just at two wins. Not because of greed, but because of uncertainty - who knows what's gonna be tomorrow, maybe a choppy market and four losers in a row. A newbie's performance is unstable, that's why a new system trader strives to get more and more thinking THIS ss the day. However a skilled trader is more confident in tomorrow's wins and that's why it's easier for him/her to stop after a couple of wins.
It was discussed hundreds of times, in this thread as well, so discipline and patience is the key in any trading.
  • #21,256
  • Nov 12, 2014 10:39am Nov 12, 2014 10:39am
Quoting Stingr
{quote} I think for a newbie it's not that easy to stop just at two wins. Not because of greed, but because of uncertainty - who knows what's gonna be tomorrow, maybe a choppy market and four losers in a row. A newbie's performance is unstable, that's why a new system trader strives to get more and more thinking THIS ss the day. However a skilled trader is more confident in tomorrow's wins and that's why it's easier for him/her to stop after a couple of wins. It was discussed hundreds of times, in this thread as well, so discipline and patience...

I think for a newbie it's not that easy to stop just at two wins.

It all comes down to PDF & BCC.. you think that 4, 6, or even 8 trades will make it all better and improve the consistency ???

Not because of greed, but because of uncertainty - who knows what's gonna be tomorrow, maybe a choppy market and four losers in a row.

tomorrow the market will be there, prices move, so opportunities will present itself

A newbie's performance is unstable, that's why a new system trader strives to get more and more thinking THIS ss the day

so take one winner and come back tomorrow, you have no idea how fast your account will grow and your confidence with the growth of your account

However a skilled trader is more confident in tomorrow's wins and that's why it's easier for him/her to stop after a couple of wins

a skilled trader knows that each day brings opoortunities, one day better than the other, but is prepared to take what the market is willing to give, but always thinks of the risks involved, not focussing on the potential profits... Limit the downside with taking low risk entries, and then the upside (the high probability wins will take care of it all..

Most of you guys forget to look for reasons NOT to take a trade...

PDF & BCC will create your future, with these strategies or any other for that matter..

Udine
Sleep less, live fast, as it aint gonna last
  • #21,257
  • Nov 12, 2014 10:55am Nov 12, 2014 10:55am
I've just noticed that I've been backtesting and trading modified version of Udines's 15M strategy for the last month The only exception is that I am not comfortable with 50 levels and there is also some discretion called 'gut feeling'

Today's result:
Aud Usd: +5
Usd Cad: BE
Usd Cad: TS
Eur Cad: TS

sneak peak into my wining trade:

http://s14.postimg.org/z6e3v042p/18_AUDUSDM15.png


Take care,
D

Edit: I was at my computer only arround 8:00 am and 15:00 (GMT+1), that's why i missed all G and E trades , but I dont care I'll catch some tomorrow
PDF!
  • #21,258
  • Nov 12, 2014 11:23am Nov 12, 2014 11:23am
ok,

I am out of here...
speak tomorrow, new day, new opportunities

cheers

Udine
Sleep less, live fast, as it aint gonna last
  • #21,259
  • Nov 12, 2014 11:33am Nov 12, 2014 11:33am
Can someone explain where I went wrong here?

http://prntscr.com/55oiff

http://prntscr.com/55oj1i

Seems to go with both the 15m and the 1hr rules, I don't know where I went wrong

And Also how to post screenshots so they show in the thread
  • #21,260
  • Nov 12, 2014 3:43pm Nov 12, 2014 3:43pm
Quoting Udine
{quote} I think for a newbie it's not that easy to stop just at two wins. It all comes down to PDF & BCC.. you think that 4, 6, or even 8 trades will make it all better and improve the consistency ??? Not because of greed, but because of uncertainty - who knows what's gonna be tomorrow, maybe a choppy market and four losers in a row. tomorrow the market will be there, prices move, so opportunities will present itself A newbie's performance is unstable, that's why a new system trader strives to get more and more thinking THIS ss the day so take one...
Golden words.
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