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As simple as possible: 00 level trading

  • #22,361
  • Nov 21, 2014 8:11am Nov 21, 2014 8:11am
Last one for the week.. 2nd trade of the day.. 2nd winner of the day.. GU to TP

PDF & BCC

Udine
Attached Image (click to enlarge)
Click to Enlarge Name: 141121 gu2.jpg Size: 63 KB
Sleep less, live fast, as it aint gonna last
  • #22,362
  • Nov 21, 2014 8:13am Nov 21, 2014 8:13am
My last trade of the day - 1hr setup at NY open, a little far from DO but was there for the taking for a quick +10.

Trading the combination of the 15m and the 1hr has been pretty good this week. Thanks again everyone, Udine, MM, QED, seeya all back here next week.
Attached Image
  • #22,363
  • Nov 21, 2014 8:14am Nov 21, 2014 8:14am
Quoting Udine
Last one for the week.. 2nd trade of the day.. 2nd winner of the day.. GU to TP PDF & BCC Udine {image}
Great way to finish both the day and the week.

Masterrmind...........
Master your Mind then Master your Trades
  • #22,364
  • Nov 21, 2014 8:16am Nov 21, 2014 8:16am
Quoting scottik187
My last trade of the day - 1hr setup at NY open, a little far from DO but was there for the taking for a quick +10. Trading the combination of the 15m and the 1hr has been pretty good this week. Thanks again everyone, Udine, MM, QED, seeya all back here next week. {image}
See you next week........when green pips will be up for the taking!

Have a great weekend

Masterrmind............
Master your Mind then Master your Trades
  • #22,365
  • Nov 21, 2014 8:17am Nov 21, 2014 8:17am
Quoting Udine
Last one for the week.. 2nd trade of the day.. 2nd winner of the day.. GU to TP PDF & BCC Udine {image}
Nice ! I missed it But still happy.

Have all a nice weekend and we rock next week again.

Greetz Michael
  • #22,366
  • Nov 21, 2014 8:19am Nov 21, 2014 8:19am
Quoting Asmodai
{quote} MM, the way i see it, you were expecting that the current 1h candle would close red, bouncing off DO. So you entered short at the point where you expected the upper part of the candle body would be. Am i right in this way of thinking?? Asmodai
Read some (actually all of) my posts related to this trade.

It should help your understanding.

Good trading,

Masterrmind...........
Master your Mind then Master your Trades
  • #22,367
  • Nov 21, 2014 8:27am Nov 21, 2014 8:27am
Quoting Masterrmind
{quote} That's very limited "intell"........... What exactly is your question please? Masterrmind............
Sorry MM, i was not at home.

I want to ask you , what is the setup you need for go short ?
example 1 : DO = red, h1 red, when closes h1 put pending short
example 2 : DO = red, h1 green, but the last 15m canlde is red, then put your pending short ?
It would be correct ?
Sorry my english is very bad....
  • #22,368
  • Nov 21, 2014 8:30am Nov 21, 2014 8:30am
Quoting Masterrmind
{quote} Great way to finish both the day and the week. Masterrmind...........

true, was another set up on the GJ, but I let it pass by... it was a good week again, so no need for extra trades..

Udine
Sleep less, live fast, as it aint gonna last
  • #22,369
  • Nov 21, 2014 8:37am Nov 21, 2014 8:37am
Udine, please, wich of those trades are wolud be correct ?
Attached Image (click to enlarge)
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  • #22,370
  • Nov 21, 2014 8:39am Nov 21, 2014 8:39am
Quoting Udine
{quote} true, was another set up on the GJ, but I let it pass by... it was a good week again, so no need for extra trades.. Udine
Yes that's right I saw that one too but decided to stay with the UJ....it will be my last for the week!

Trade #13 [Bonus trade #11]

USDJPY +5 TP

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 46 KB


Comment: As I have said earlier today you really only need 1 or 2 pairs to trade....pips are always there for the taking!

Masterrmind............
Master your Mind then Master your Trades
  • #22,371
  • Nov 21, 2014 8:40am Nov 21, 2014 8:40am
Quoting Udine
{quote} true, was another set up on the GJ, but I let it pass by... it was a good week again, so no need for extra trades.. Udine

i took the GJ trade +5....thanks
  • #22,372
  • Nov 21, 2014 8:45am Nov 21, 2014 8:45am
Quoting Masterrmind
{quote} Yes that's right I saw that one too but decided to stay with the UJ....it will be my last for the week! Trade #13 [Bonus trade #11] USDJPY +5 TP {image} Comment: As I have said earlier today you really only need 1 or 2 pairs to trade....pips are always there for the taking! Masterrmind............
Somebody please stop this guy!
  • #22,373
  • Nov 21, 2014 8:46am Nov 21, 2014 8:46am
Quoting arkan1976
Udine, please, wich of those trades are wolud be correct ? {image}

when you compare your chart with mine.. you see differences??

I am not going to play search and rescue here...

first set up your charts as mine, then we can start to discuss, because only then we are looking at the same things..

Udine
Sleep less, live fast, as it aint gonna last
  • #22,374
  • Nov 21, 2014 8:46am Nov 21, 2014 8:46am
Quoting Masterrmind
{quote} Good ........... but not quite there! Look at PA 4 hours prior to NY and what do you see? A definite rejection of the DO...the wick of that candle is screaming up trying to touch the DO line but fails. Then price went down and away and went about its business.......... Then PA rose up again trying to "touch" the DO in the form of a powerful pin bar but failed again reaching as high as 118.100 Entry thought process: 1. Based on the above observations a pending short from the BRN @ 118.000 is considered however the candle open makes it a little...

MM,

Very well detail PA analysis. I can see what you are talking about. I must get more granular in my Analysis of PA. thanks for the lesson!

Lionsden
  • #22,375
  • Nov 21, 2014 8:46am Nov 21, 2014 8:46am
Quoting lionsden
{quote} Chake, PA was there but what color were the indi's when you took trade? Was it rules based trade?
Hey lionsden, It was not a rules based trade, sorry should have mentioned that!
It was pure PA. and a bit risky if you ask me.
Persistence will get it. Consistency will keep it.
  • #22,376
  • Nov 21, 2014 8:47am Nov 21, 2014 8:47am
Quoting arkan1976
{quote} Sorry MM, i was not at home. I want to ask you , what is the setup you need for go short ? example 1 : DO = red, h1 red, when closes h1 put pending short example 2 : DO = red, h1 green, but the last 15m canlde is red, then put your pending short ? It would be correct ? Sorry my english is very bad....
Think of DO line....

If above it only trade long = green D1 and green H1

If below the DO line then only trade short = red D1 and red H1

If the candle opens too close to the 00 level to place a pending order then just ignore the trade and look for another trade on a different chart. You can always come back to the chart at the start of the next hour and see if it is worth trading or not. If yes open pending order, if not look elsewhere for another trade.

The reason for the same colors on D1 and H1 is to try to keep the trend on your side. Trading with the trend is usually your best choice.

Hope that helps,

Masterrmind...........
Master your Mind then Master your Trades
  • #22,377
  • Nov 21, 2014 8:50am Nov 21, 2014 8:50am
Quoting Stingr
{quote} Somebody please stop this guy!
You know what?..........I actually want to get better at trading and I know that means more experience and more analysis.

Bring it on I say.......... love trading!

Good trading,

Masterrmind............
Master your Mind then Master your Trades
  • #22,378
  • Nov 21, 2014 8:52am Nov 21, 2014 8:52am
Quoting Udine
{quote} when you compare your chart with mine.. you see differences?? I am not going to play search and rescue here... first set up your charts as mine, then we can start to discuss, because only then we are looking at the same things.. Udine
Sorry, here you are.
The white and pink lines are correct trades ?
Attached Image (click to enlarge)
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  • #22,379
  • Nov 21, 2014 8:54am Nov 21, 2014 8:54am
Quoting lionsden
{quote} MM, Very well detail PA analysis. I can see what you are talking about. I must get more granular in my Analysis of PA. thanks for the lesson! Lionsden
All this trading mumbo jumbo takes an unbelievable amount of time and effort to learn right.

It does not come easy as many wish for but rather ............. well a hell of a lot of chart time to put it simply and heaps of frustration!

The more dedicated you are to learning it the better you should be!

The road traveled is never the same for each trader but one thing is for sure.......... it isn't easy !

Good trading,

Masterrmind..............
Master your Mind then Master your Trades
  • #22,380
  • Nov 21, 2014 8:57am Nov 21, 2014 8:57am
Quoting Masterrmind
{quote} All this trading mumbo jumbo takes an unbelievable amount of time and effort to learn right. It does not come easy as many wish for but rather ............. well a hell of a lot of chart time to put it simply and heaps of frustration! The more dedicated you are to learning it the better you should be! The road traveled is never the same for each trader but one thing is for sure.......... it isn't easy ! Good trading, Masterrmind..............

Well said!
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