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As simple as possible: 00 level trading

  • #22,841
  • Nov 26, 2014 12:25am Nov 26, 2014 12:25am
Hello ALL,

Trade 1 GBPUSD - 6 pips

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15_26_11_14 (TP).png Size: 45 KB


This trade challenged my patience and it sure did pay off eventually.

My apologies. I realized this was a risky trade as I took it during the Asian session.

Green pips to ALL!!!
  • #22,842
  • Nov 26, 2014 12:47am Nov 26, 2014 12:47am
dear friends,

i got a doubt. let say i placed a trade on a 00 line. anyway wt abt if price is not touch that and reversed which means trade is not executed at all. then how often i should keep that trade. should i delete that right after the reverse or how to manage such situation.
  • #22,843
  • Nov 26, 2014 12:57am Nov 26, 2014 12:57am
Quoting earnmoneylak
dear friends, i got a doubt. let say i placed a trade on a 00 line. anyway wt abt if price is not touch that and reversed which means trade is not executed at all. then how often i should keep that trade. should i delete that right after the reverse or how to manage such situation.
If you are still very confident of your chart analysis then there is no harm in leaving the pending order active.

If you are not confident and think that maybe its better you don't take a risk on that trade then simply delete the pending order.

In the end it is your decision!

Good trading,

Masterrmind.........
Master your Mind then Master your Trades
  • #22,844
  • Nov 26, 2014 12:59am Nov 26, 2014 12:59am
Quoting L0pg
Charts for tonight. New goal: Post all my trades for critique 1st trade EURUSD- BE {image} 2nd trade GBPJPY- -10 {image} 3rd trade GBPUSD +5 {image} And a pending short on GBPJPY (shown on the chart).

first of all Asia is not easy to trade.. so if you are starting out, start with London open and not earlier..
second, trade only pairs of which the market is open, so during Asia trade AUD, NZD, JPY, not EUR, GBP

For example I am not able to trade Asia, the pairs move too unpredictable for me.. so I stick to my beauty sleep

Udine
Sleep less, live fast, as it aint gonna last
  • #22,845
  • Nov 26, 2014 1:05am Nov 26, 2014 1:05am
Quoting Masterrmind
{quote} What is your reason for wanting to have a time shift on a daily pivot??? Just use the daily pivot the way it was intended. The pivot is simply calculated as follows: (previous high + previous low + previous close) / 3 with respect to the time frame of interest. ps. By definition the pivot is calculated on the previous days data (for a daily pivot) so which day in the past are you interested in having your pivot calculated (default is 1 day previous). You can choose any day in the past you wish to calculate the pivot and there are indicators...
MM, QED

Thanks for your replies,
I am on demo with an Aussie broker and it is one of the supplied indicators. I was just trying to understand why it was time shifted as I hadn't come across it before.

Thanks
PU
  • #22,846
  • Nov 26, 2014 1:17am Nov 26, 2014 1:17am
First one for today this trade was open from last night, i left open during the night, y didn't move for 5 hours, you will think that a move of 5 pips its not much, think again!
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY FF OPEN 26 NOV.png Size: 81 KB
FREEDOM IS NOT FREE
  • #22,847
  • Nov 26, 2014 1:26am Nov 26, 2014 1:26am
EJ to TP.
My thoughts were, that once the Resistance @850 is broken it will start to rally. And so it did.
That's building confidence. Trading 1H strategy at this point.
Attached Image (click to enlarge)
Click to Enlarge Name: #1_EJ+5.png Size: 39 KB
  • #22,848
  • Nov 26, 2014 1:33am Nov 26, 2014 1:33am
Quoting Udine
{quote} Cyd09, you dont need the absolutestrenght v1.1 on the chart. It is needed to make the MTF ASH work.. Udine
thanks udine for clarification so is this one correct already?
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  • #22,849
  • Nov 26, 2014 1:33am Nov 26, 2014 1:33am
Quoting Takeo
EJ to TP. My thoughts were, that once the Resistance @850 is broken it will start to rally. And so it did. That's building confidence. Trading 1H strategy at this point. {image}
Good profit but be careful during the Frankfurt session

Only trade from 400, 500 or 600 level as the case may be.....

Good trading,

Masterrmind..........
Master your Mind then Master your Trades
  • #22,850
  • Nov 26, 2014 1:33am Nov 26, 2014 1:33am
GJ to TP +5

Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 95 KB
  • #22,851
  • Nov 26, 2014 1:33am Nov 26, 2014 1:33am
First one in the pocket..

GJ to TP

Udine
Attached Image (click to enlarge)
Click to Enlarge Name: 141126 gj.jpg Size: 72 KB
Sleep less, live fast, as it aint gonna last
  • #22,852
  • Nov 26, 2014 1:36am Nov 26, 2014 1:36am
Good morning all.

First trade: GJ +5
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 36 KB
Persistence will get it. Consistency will keep it.
  • #22,853
  • Nov 26, 2014 1:38am Nov 26, 2014 1:38am
Quoting Masterrmind
{quote} If you are still very confident of your chart analysis then there is no harm in leaving the pending order active. If you are not confident and think that maybe its better you don't take a risk on that trade then simply delete the pending order. In the end it is your decision! Good trading, Masterrmind.........
thanx for the clarification MM
  • #22,854
  • Nov 26, 2014 1:38am Nov 26, 2014 1:38am
Quoting cyd09
{quote} thanks udine for clarification so is this one correct already? {image}

if you add the Heiken Ashi you are complete

Udine
Sleep less, live fast, as it aint gonna last
  • #22,855
  • Nov 26, 2014 1:41am Nov 26, 2014 1:41am
Quoting Masterrmind
Trade #2 EURJPY +5 TP {image} Comment: Done for day! Bonus trades up next. Masterrmind..........
why do you trade near pivot ?

Attached Image (click to enlarge)
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  • #22,856
  • Nov 26, 2014 1:43am Nov 26, 2014 1:43am
Quoting Udine
First one in the pocket.. GJ to TP Udine {image}
Are all levels open territory during Frankfurt now Udine?

If so then perhaps I have missed a few posts myself.

Masterrmind...........
Master your Mind then Master your Trades
  • #22,857
  • Nov 26, 2014 1:57am Nov 26, 2014 1:57am
Quoting Masterrmind
Trade #2 EURJPY +5 TP {image} Comment: Done for day! Bonus trades up next. Masterrmind..........
Hi MM reason behind this ? I can't find any, if you have some time to explain, thank you !!
Porta itineris dicitur longissima esse
  • #22,858
  • Nov 26, 2014 2:00am Nov 26, 2014 2:00am
Quoting Masterrmind
{quote} Are all levels open territory during Frankfurt now Udine? If so then perhaps I have missed a few posts myself. Masterrmind...........
See post 21978
  • #22,859
  • Nov 26, 2014 2:01am Nov 26, 2014 2:01am
Quoting Kubiasty
{quote} why do you trade near pivot ? {image}
PA is king at the end of the day for me!

Lovely bearish trend down since the daily open.

A pullback up to about the 100 level

Then continuation down with several tests of the pivot @ 146.941 on my chart.

So why wouldn't price drop again and test the pivot which was just what I was after considering my TP was shy of the pivot level.

All factors need to be considered and weighed up against the risk.

Hope that helps.

Good trading,

Masterrmind.........
Master your Mind then Master your Trades
  • #22,860
  • Nov 26, 2014 2:03am Nov 26, 2014 2:03am
Quoting Kubiasty
{quote} why do you trade near pivot ? {image}
Kubi, it depends where you have pivot. This could not be a better entry...:nerd:
Attached Image (click to enlarge)
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