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As simple as possible: 00 level trading

  • #22,641
  • Nov 24, 2014 9:04pm Nov 24, 2014 9:04pm
Quoting tantor1973
gov KURUDA SPEAK
FF calendar stated it is delayed until 4 hours later.
  • #22,642
  • Nov 24, 2014 10:13pm Nov 24, 2014 10:13pm
Quoting Masterrmind
Trade #1 NZDJPY +5 TP {image} Comment: 2 pips on shorting the EU ... cut it short! {image} Masterrmind...........
Hi MM,

Trying to understand your chart reading on NZDJPY trade,

1. Why did you choose not to take short at 92.700 the hour before?
2. If you were waiting for a retrace then how did know that the retrace will not go any deeper?

Thanks
Z
  • #22,643
  • Nov 25, 2014 12:04am Nov 25, 2014 12:04am
Trade #3 [Bonus trade #1]

USDJPY +5 TP

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 50 KB


Masterrmind...........
Master your Mind then Master your Trades
  • #22,644
  • Nov 25, 2014 12:36am Nov 25, 2014 12:36am
Trade #4 [Bonus trade #2]

EURAUD +5 TP

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 49 KB


Masterrmind............
Master your Mind then Master your Trades
  • #22,645
  • Nov 25, 2014 12:44am Nov 25, 2014 12:44am
Masterrmind, good trade on the EURAUD.

I was in the same trade but closed earlier due to the lack of patience i guess.

Will definitely need to focus more on the patience part of executing this trading strategy.

Green pips to ALL!!!

Hunting for my next target...
  • #22,646
  • Nov 25, 2014 1:05am Nov 25, 2014 1:05am
3 am in the morning first 5 pips
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY 25 NOV 2014.png Size: 87 KB
FREEDOM IS NOT FREE
  • #22,647
  • Nov 25, 2014 1:08am Nov 25, 2014 1:08am
1st Trade - EURJPY (+6 pips)

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM15_25_11_14 (TP).png Size: 47 KB


Manual short entry. Trade was supposed to be taken from .400 as per the rules but somehow it was not been placed.

Apologies for any confusion.
  • #22,648
  • Nov 25, 2014 1:11am Nov 25, 2014 1:11am
Quoting Aim4Pips
1st Trade - EURJPY (+6 pips) {image} Manual short entry. Trade was supposed to be taken from .400 as per the rules but somehow it was not been placed. Apologies for any confusion.
Good one !
  • #22,649
  • Nov 25, 2014 1:12am Nov 25, 2014 1:12am
Quoting Aim4Pips
Masterrmind, good trade on the EURAUD. I was in the same trade but closed earlier due to the lack of patience i guess. Will definitely need to focus more on the patience part of executing this trading strategy. Green pips to ALL!!! Hunting for my next target...
During the Asian session it does take patience, this is true however I also closed out a couple of other trades not posted at +1 and +2 pips because of severe price hesitation.

Sometimes you just need to do it I guess....that's up to the individual trader to decide based on analysis and more "gut feeling" than anything else.

Profit is profit and even when you close it out early its still money in the bank.

The danger of course is to get addicted to closing out "good" trades prematurely.....but once again that's up to the individual trader.

At the end of the week and also the end of the month analyse your trades and your decision making process and the reasons why you closed out the trades prematurely (look at the trades that would have been full TP winners if let go and look at the losers and try to figure out ways of improving your actions).

You will learn a lot from this constant process I assure you.

Good trading,

Masterrmind.............
Master your Mind then Master your Trades
  • #22,650
  • Nov 25, 2014 1:14am Nov 25, 2014 1:14am
Quoting Aim4Pips
1st Trade - EURJPY (+6 pips) {image} Manual short entry. Trade was supposed to be taken from .400 as per the rules but somehow it was not been placed. Apologies for any confusion.
It's great when traders explain any differences in the way they took a trade.

Great work and thank you!

Masterrmind............
Master your Mind then Master your Trades
  • #22,651
  • Nov 25, 2014 1:18am Nov 25, 2014 1:18am
Good morning all,

this time i am also part of the early bird group...

great to see more and more people catching them green ones

Took GJ to TP, but missed the EJ though otherwise I would have been ready before my 2nd coffee of the morning..

Udine
Attached Image (click to enlarge)
Click to Enlarge Name: 141125 gj.jpg Size: 70 KB
Sleep less, live fast, as it aint gonna last
  • #22,652
  • Nov 25, 2014 1:25am Nov 25, 2014 1:25am
Quoting Udine
Good morning all, this time i am also part of the early bird group... great to see more and more people catching them green ones Took GJ to TP, but missed the EJ though otherwise I would have been ready before my 2nd coffee of the morning.. Udine {image}
Now the rest of your trading day should be a walk in the park!

I hope so anyway.....

Masterrmind............
Master your Mind then Master your Trades
  • #22,653
  • Nov 25, 2014 1:25am Nov 25, 2014 1:25am
Buenos días amigos,

Trade #1, entered too late so I decided to close manually [H1 System] CHFJPY +1.6
Attached Image
  • #22,654
  • Nov 25, 2014 1:27am Nov 25, 2014 1:27am
Quoting Masterrmind
{quote} During the Asian session it does take patience, this is true however I also closed out a couple of other trades not posted at +1 and +2 pips because of severe price hesitation. Sometimes you just need to do it I guess....that's up to the individual trader to decide based on analysis and more "gut feeling" than anything else. Profit is profit and even when you close it out early its still money in the bank. The danger of course is to get addicted to closing out "good" trades prematurely.....but once again that's up to the individual trader....
Thanks for your words of advice. Appreciate it a lot!!!

Will definitely put more effort into analyzing my trades to help me gain more confidence in my trading pschology. This will enable myself to read, understand and trade the market when the opportunity arise.
  • #22,655
  • Nov 25, 2014 1:29am Nov 25, 2014 1:29am
Quoting Masterrmind
{quote} Now the rest of your trading day should be a walk in the park! I hope so anyway..... Masterrmind............

lol,

it normally is... stressfree...

listening to this kind of music
Inserted Video


very relaxed, must be carefull not to fall asleep...

Udine
Sleep less, live fast, as it aint gonna last
  • #22,656
  • Nov 25, 2014 1:36am Nov 25, 2014 1:36am
Quoting Udine
{quote} lol, it normally is... stressfree... listening to this kind of music http://www.youtube.com/watch?v=4XpdDl440xE very relaxed, must be carefull not to fall asleep... Udine
Yes there would be certain times (after trading) that type of music would be very relaxing indeed!

Masterrmind...........
Master your Mind then Master your Trades
  • #22,657
  • Nov 25, 2014 1:38am Nov 25, 2014 1:38am
Quoting Aim4Pips
{quote} Thanks for your words of advice. Appreciate it a lot!!! Will definitely put more effort into analyzing my trades to help me gain more confidence in my trading pschology. This will enable myself to read, understand and trade the market when the opportunity arise.
Its similar to building a house............1 brick at a time until it is complete!

So too with any successful trader ........... continually analysing their decisions and being a harsh critic on themselves!

Good trading,

Masterrmind............
Master your Mind then Master your Trades
  • #22,658
  • Nov 25, 2014 1:41am Nov 25, 2014 1:41am
Anyway even though its late afternoon for me it's time I had a coffee (rich with coffee beans)

Must have had something to do with yesterdays trading.......... ???

Bring on London Open (after I have enjoyed my coffee please)

Back soon......................

Masterrmind..............
Master your Mind then Master your Trades
  • #22,659
  • Edited 2:00am Nov 25, 2014 1:46am | Edited 2:00am
Good Morning.

AU short , exit at MS2 +13, SL 15
Attached Image (click to enlarge)
Click to Enlarge Name: pAUDUSD+M15.png Size: 46 KB
  • #22,660
  • Nov 25, 2014 1:46am Nov 25, 2014 1:46am
2nd trade audusd 5 pips. Why i took this trade rejection of .8600 level physiological level converted into resistance, plus everything else in place.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD 25 NOV 2014 2ND TRADE.png Size: 97 KB
FREEDOM IS NOT FREE
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