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As simple as possible: 00 level trading

  • #21,961
  • Nov 19, 2014 2:05am Nov 19, 2014 2:05am
second trade
eurjpy to TP +6.4 pips
Attached Image (click to enlarge)
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  • #21,962
  • Nov 19, 2014 2:07am Nov 19, 2014 2:07am
# Third and fourth trade of the day.

* I placed the EURUSD pending seconds before the opening of the new candle.

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY.WINST.TP.M15.png Size: 63 KB


Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.VERLIES.TS.M15.png Size: 61 KB
  • #21,963
  • Nov 19, 2014 2:08am Nov 19, 2014 2:08am
#1 GJ to SL
Comment: signal was OK, sometimes it goes wrong.. I was late too and entered manually one pip above the 50 level, maybe this was a sign to stay out. And entering a hurry I neglected the lack of sync of the pair with GU that was already going down.
Attached Image (click to enlarge)
Click to Enlarge Name: GJ_SL.png Size: 43 KB
Porta itineris dicitur longissima esse
  • #21,964
  • Nov 19, 2014 2:10am Nov 19, 2014 2:10am
#2 EJ to TP
Attached Image (click to enlarge)
Click to Enlarge Name: EJ_TP.png Size: 42 KB
Porta itineris dicitur longissima esse
  • #21,965
  • Nov 19, 2014 2:10am Nov 19, 2014 2:10am
Today we see UJ again at the high since 2007, and GU at the low since 2013, so it makes sense to be more careful with JPY and GBP pairs.
  • #21,966
  • Nov 19, 2014 2:10am Nov 19, 2014 2:10am
Quoting Udine
{quote} entry was too early, wait for the candle close to confirm the color change on the HA.. Udine
entry was too early? So correct open position is when candle will CLOSE above .00 level or when just CROSS the .00 level?
  • #21,967
  • Nov 19, 2014 2:11am Nov 19, 2014 2:11am
Good mornig all.

EJ +5
Attached Image
  • #21,968
  • Nov 19, 2014 2:13am Nov 19, 2014 2:13am
Good morning all.

From what i see in some of you guys losses, you have a problem that i have sometimes. Overtrading.
You try to take every trade that is valid according to the rules and dont look for reasons NOT to take the trade.
Like Udine said alot of times in the thread, try to reasons not to take the trade.
Look for support or resistance areas, was the previous move a monster candle of 50 pips, candle formation, etc, etc.
You will take less trades, but be right more times.
Thats what im trying to do.

Asmodai
  • #21,969
  • Nov 19, 2014 2:14am Nov 19, 2014 2:14am
Quoting iwan73
{quote} I know Udine that it would be "M15 method" entry. But i thought that rule No3 also concerns M15 method. So, if not i have to ask you question about yesterday's setup. You entered EJ Long at 145.550 in the morning (30 minutes after FO). But why didnt you enter at the same time EU Long at 1.2480? When i analize your entries yesterday it was clear for me that the reason was rule No3. Sorry, i am not able to attache screenschot .

yesterday I was with 2 traders at my side, explaining everything that takes more time...

today is only flx69 here with me... but showing past trades why enter or why not to enter takes up a lot of time... so I happen to miss trades as well, but I simply know there will be others...

keeping up a thread, teaching and trading is more than a day job

dont look to deep into it if I dont take a trade, could simply be that i missed it, because I was busy with other stuff..

cheers

Udine
Sleep less, live fast, as it aint gonna last
  • #21,970
  • Nov 19, 2014 2:16am Nov 19, 2014 2:16am
Quoting Kubiasty
{quote} entry was too early? So correct open position is when candle will CLOSE above .00 level or when just CROSS the .00 level?

did you read my reply???

the answer is in there..

Udine
Sleep less, live fast, as it aint gonna last
  • #21,971
  • Nov 19, 2014 2:21am Nov 19, 2014 2:21am
I got +5 EU.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 94 KB
  • #21,972
  • Nov 19, 2014 2:22am Nov 19, 2014 2:22am
Flx69 just had TP on the EU

at the moment he is unable to post himself...

Udine
Sleep less, live fast, as it aint gonna last
  • #21,973
  • Nov 19, 2014 2:23am Nov 19, 2014 2:23am
Quoting Udine
{quote} yesterday I was with 2 traders at my side, explaining everything that takes more time... today is only flx69 here with me... but showing past trades why enter or why not to enter takes up a lot of time... so I happen to miss trades as well, but I simply know there will be others... keeping up a thread, teaching and trading is more than a day job dont look to deep into it if I dont take a trade, could simply be that i missed it, because I was busy with other stuff.. cheers Udine
THX for reply.
So, to keep this great thread clean and easy to understand lets summarize:
Trading ALL levels from FF Open to LO open is allowed in M15 method.
  • #21,974
  • Nov 19, 2014 2:28am Nov 19, 2014 2:28am
EU to TP
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM15.png Size: 40 KB
  • #21,975
  • Nov 19, 2014 2:29am Nov 19, 2014 2:29am
Quoting frietzak
# Third and fourth trade of the day. * I placed the EURUSD pending seconds before the opening of the new candle.
Frietzak, do you pay any attention to the indicators in the bottom off your screen?
Not trying to be a wise ass, but i see there is no signal to enter when you entered. Only enter the next candle after confirmation that all indicators are changed to the same color in previous candle.
Persistence will get it. Consistency will keep it.
  • #21,976
  • Nov 19, 2014 2:39am Nov 19, 2014 2:39am
Quoting iwan73
{quote} THX for reply. So, to keep this great thread clean and easy to understand lets summarize: Trading ALL levels from FF Open to LO open is allowed in M15 method.

yup

Udine
Sleep less, live fast, as it aint gonna last
  • #21,977
  • Nov 19, 2014 2:42am Nov 19, 2014 2:42am
Quoting Asmodai
EU to TP {image}
Hello Asmodai, you have very huge spread on EU, try another broker, if you can. It will be better for your 00 level trading
  • #21,978
  • Nov 19, 2014 2:44am Nov 19, 2014 2:44am
Quoting Chake
{quote} Frietzak, do you pay any attention to the indicators in the bottom off your screen? Not trying to be a wise ass, but i see there is no signal to enter when you entered. Only enter the next candle after confirmation that all indicators are changed to the same color in previous candle.
Hi Chake,

You're not acting like a smart-ass, I appreciate your contribution.

I wasn't under the assumption that we only trade when a change has taken place.

For convenience, I have made two screenshots.

Photo 1 shows how I thought it works. All trades are in accordance with the rules within the boxes.

Photo 2 shows how I think you mean it. At first glance this looks more secure.

I would like to hear from you whether I have understood you correctly.

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.M15.2.png Size: 45 KB
  • #21,979
  • Nov 19, 2014 2:47am Nov 19, 2014 2:47am
Quoting Asmodai
Good morning all. From what i see in some of you guys losses, you have a problem that i have sometimes. Overtrading. You try to take every trade that is valid according to the rules and dont look for reasons NOT to take the trade. Like Udine said alot of times in the thread, try to reasons not to take the trade. Look for support or resistance areas, was the previous move a monster candle of 50 pips, candle formation, etc, etc. You will take less trades, but be right more times. Thats what im trying to do. Asmodai
That's an interesting point. If you look deeper there will always be a reason not to take a trade: S/R, long signal candle, far from a session open, not in the clear trend, MA200/100/50/you_name_it, trend lines, resistance on a H1/D1 chart, uncertaincy in friendly pairs, etc. etc. etc. I wanted to say that there has to be a balance, but it won't answer whether to take a particular trade or not. Sometimes it's really hard to pick the right one. For example, there were 6 signals so far since FO at 6 pairs I'm watching, and if taken, there would be 2 winning, 3 losing and 1 BE. Were they good or bad? All of they were not ideal. Looking at that recent move up in EJ and EU I didn't take them as the signal candle was already long, but these trade were winning. Right now there are sells at GU and AU, but I won't take them as there's no clear trend (GU is also approaching red news). But it won't be surprising if they will be winning.
Only God (and Udine ) knows how to pick the winning ones. I guess the key would be that gut feeling that comes after watching your pairs for years.
  • #21,980
  • Nov 19, 2014 2:47am Nov 19, 2014 2:47am
Frietzak, Photo 2 is indeed how i have interpreted the rules.
Persistence will get it. Consistency will keep it.
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