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As simple as possible: 00 level trading

  • #21,441
  • Nov 13, 2014 6:30pm Nov 13, 2014 6:30pm
Continuing to analyse through the Asian session.............

in search of bonus trades..........

Masterrmind........... :nerd:
Master your Mind then Master your Trades
  • #21,442
  • Nov 13, 2014 7:17pm Nov 13, 2014 7:17pm
gidday m8... not a bad day for a friday , slightly behind from earlier loss, but will trade very carefully now .eg sleep with 1 eye open LOL
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Whats That? you're trading What?
  • #21,443
  • Nov 13, 2014 7:23pm Nov 13, 2014 7:23pm
Quoting Qed
gidday m8... not a bad day for a friday , slightly behind from earlier loss, but will trade very carefully now .eg sleep with 1 eye open LOL {image}
Sounds great!

Grab those greens...

Masterrmind...........
Master your Mind then Master your Trades
  • #21,444
  • Nov 13, 2014 10:03pm Nov 13, 2014 10:03pm
Good Afternoon MM,

Great trading!

Your instrument choice....for the Tokyo open. Do you use your PsyLevels indicator to give you a headsup or do you key an eye on EURUSD/USDJPY that time daily?

Thanks,
Rapid
  • #21,445
  • Nov 13, 2014 10:48pm Nov 13, 2014 10:48pm
Quoting Gluvina
{quote} probably missing this one {file}

Thanks Gluvina for helping me out here..

forgot to add that..

sorry for the confusion guys, girls...

Gluvina thx again..

Udine
Sleep less, live fast, as it aint gonna last
  • #21,446
  • Nov 13, 2014 10:49pm Nov 13, 2014 10:49pm
I was asked in a PM, how this weeks' results are.. thought I post the reply here..

well here it is.. an average week...

Udine
Attached Image
Sleep less, live fast, as it aint gonna last
  • #21,447
  • Nov 13, 2014 11:04pm Nov 13, 2014 11:04pm
Quoting rapidedward
Good Afternoon MM, Great trading! Your instrument choice....for the Tokyo open. Do you use your PsyLevels indicator to give you a headsup or do you key an eye on EURUSD/USDJPY that time daily? Thanks, Rapid
I analyse every chart based on its merits..... period!

Some traders prefer to trade only those pairs which are related to the trading session (works pretty good most of the time...but not always!)

The psy levels is a simple alert to quickly guide me to multiple pairs in sync (but always will be confirmed by the charts in question)

Since I have no idea as to your trading ability then I would suggest for a "new trader" to trade just a couple of pairs and learn to get very very familiar with them.

The obvious way to trade is as follows:

1. Asian session - trade JPY, AUD related and affected pairs
2. Frankfurt session - "New" trader...........avoid it!
3. Frankfurt session - "Seasoned" trader........... 1 or 2 trades a week but best avoided unless you know reversal strategies and anticipated PA patterns
4. Frankfurt session - "Pro" trader.......... trades it based on calculated risk (can be traded successfully but in a few words..... Do you really need too?)
5. London session - trade the EUR and GBP related pairs.
6. New York session - trade USD related pairs but be careful of CAD pairs

What I do is as follows:

I trade any pair at any time provided I am aware of the inherent risk involved and only take the trade when the majority of influential trading factors are heavily stacked in my favor...........sounds simple but it's not!

Best advise ........ initially and potentially for ever after..... trade as long as you remain consistently profitable but 2 winners for a "new" trader per day is generally the best time to call it quits for the day!

Good trading,

Masterrmind............
Master your Mind then Master your Trades
  • #21,448
  • Nov 13, 2014 11:07pm Nov 13, 2014 11:07pm
+ 10 Pips EU. Thanks Udine Done for today.
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  • #21,449
  • Nov 13, 2014 11:11pm Nov 13, 2014 11:11pm
Quoting Udine
I was asked in a PM, how this weeks' results are.. thought I post the reply here.. well here it is.. an average week... Udine {image}
Lovely results Udine....exactly where you want them to be.

Masterrmind...........
Master your Mind then Master your Trades
  • #21,450
  • Nov 13, 2014 11:37pm Nov 13, 2014 11:37pm
Hello everyone,

Some will perhaps remember my name, but many will not. I am a reader of this thread from the very beginning and up to page ~ 600, I was active in the thread.

Through my own shortcomings and wrong views at the time I did not get this method profitable, but I want to give it another chance. Both I as a person, the method and the community in this thread have evolved. And all this together gives me new confidence in this method.

I am aware of my situation wherein I've missed a lot on the evolution of the method and therefore I would like to ask you guys for some help.

I have read the first post again and read the six most important posts.

If I have understood correctly the following things have changed.
- Three indicators are added:
* Heiken Ashi
* Wukar news
* Absolute Strength Histogram
- For our entry, we now use both the 50 and the 00 levels.

Does this summarize everything?

I will read in the coming days the last 100 pages of the thread back. Do you have any more advice?

I hope to start Monday practicing this method on a demo account again.

Thanks in advance.

Best regards,

Frietzak
  • #21,451
  • Nov 13, 2014 11:41pm Nov 13, 2014 11:41pm
Hey MM,

Thank you for taking the time to give such a detailed and thoughtful response. It's much appreciated.

Have a great weekend!

Rapid.
  • #21,452
  • Nov 13, 2014 11:50pm Nov 13, 2014 11:50pm
Quoting frietzak
Hello everyone, Some will perhaps remember my name, but many will not. I am a reader of this thread from the very beginning and up to page ~ 600, I was active in the thread. Through my own shortcomings and wrong views at the time I did not get this method profitable, but I want to give it another chance. Both I as a person, the method and the community in this thread have evolved. And all this together gives me new confidence in this method. I am aware of my situation wherein I've missed a lot on the evolution of the method and therefore I would...
Hi Frietzak,I think you are correct about most things. But Udine is now placing orders based on the 15 minute candles instead of the hourly.There is a new MT4 ruleset available where the new rules are written down.Kind regards,Gizmo96
  • #21,453
  • Nov 14, 2014 12:02am Nov 14, 2014 12:02am
Quoting Udine
I was asked in a PM, how this weeks' results are.. thought I post the reply here.. well here it is.. an average week... Udine {image}
This is quite remarkable. If the trend continues, the compounding effect is going to be crazy.
  • #21,454
  • Nov 14, 2014 12:03am Nov 14, 2014 12:03am
Quoting rapidedward
Hey MM, Thank you for taking the time to give such a detailed and thoughtful response. It's much appreciated. Have a great weekend! Rapid.
No problem at all!

Once the chart time and analysis is effectively implemented into your trading strategy you will hopefully begin to see winners.

Good trading,

Masterrmind..........
Master your Mind then Master your Trades
  • #21,455
  • Nov 14, 2014 12:46am Nov 14, 2014 12:46am
Masterrrmind , if you dont mind are we on the 2nd hrly candle of eur session, ,just need to make sure my settings are right thanx Q
Whats That? you're trading What?
  • #21,456
  • Nov 14, 2014 12:50am Nov 14, 2014 12:50am
Quoting Masterrmind
{quote} Lovely results Udine....exactly where you want them to be. Masterrmind...........

exactly,

rinse and repeat week after week

Udine
Sleep less, live fast, as it aint gonna last
  • #21,457
  • Nov 14, 2014 12:50am Nov 14, 2014 12:50am
Quoting frietzak
Hello everyone, Some will perhaps remember my name, but many will not. I am a reader of this thread from the very beginning and up to page ~ 600, I was active in the thread. Through my own shortcomings and wrong views at the time I did not get this method profitable, but I want to give it another chance. Both I as a person, the method and the community in this thread have evolved. And all this together gives me new confidence in this method. I am aware of my situation wherein I've missed a lot on the evolution of the method and therefore I would...

welcome back Frietzak

Udine
Sleep less, live fast, as it aint gonna last
  • #21,458
  • Nov 14, 2014 12:58am Nov 14, 2014 12:58am
Quoting leorc
{quote} This is quite remarkable. If the trend continues, the compounding effect is going to be crazy.

this is a normal week, so nothing special.., but very happy if it continues like this

forex however is not the end it is the start for me..

part of profits are being invested in passive income streams...

I dont think I have ever written this in ff.com, but here you go..

your incomestreams are like a table... the more legs it has the more stable it gets..

If your table has only one leg (your salary) your table is always at risk, so you MUST add income streams..
if your partner has a salary, your family table consists of 2 legs, still not enough to be stable...

forex can add enough legs for the table..

forex itself can be another leg
profits of forex invested in passive income streams can create others..

so my question to you is...

how many legs has your table and what are you going to do about it, as CEO of Me Inc ???

Udine
Sleep less, live fast, as it aint gonna last
  • #21,459
  • Nov 14, 2014 1:02am Nov 14, 2014 1:02am
Quoting Qed
Masterrrmind , if you dont mind are we on the 2nd hrly candle of eur session, ,just need to make sure my settings are right thanx Q
Qed,

Frankfurt just opened a minute ago and London opens in about 1 hour...

If that is what you asked.. otherwise I understood wrong..

Udine
Sleep less, live fast, as it aint gonna last
  • #21,460
  • Nov 14, 2014 1:06am Nov 14, 2014 1:06am
Good morning to all. Some of trades earlier in the morning.

NU, GU, UJ - Happy pipping today !
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