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As simple as possible: 00 level trading

  • #23,101
  • Nov 27, 2014 8:31am Nov 27, 2014 8:31am
Quoting Udine
{quote} correct.. I am sory for you guys, they try to "protect" you from losses.. margin 1:50 no hedging fifo what a crap... Udine

Good ole USA Govt have to protect us from ourselves hahhahaha.
  • #23,102
  • Nov 27, 2014 8:31am Nov 27, 2014 8:31am
Quoting lionsden
{quote} hmmmm...dunno but on my screen i have a WP at 92.77...might caused that momentum to slow. They are pretty solid when they break and hold on the break for momentum. But you've been knocking them dead otherwise. so, ya got be in it to win it.... I got burned last night on the NZDUSD with the unforseen news announcement. Lionsden
Almost got there and wasn't watching it at the time otherwise could have saved a few pips ..maybe but it happens!

Trade taken 2 pips above the pivot and with NY firing thought process was that it would drive it up 5 pips for me.

Not the case this time around.

On to the next trade........... although maybe not for me today its getting late.

Masterrmind.............
Master your Mind then Master your Trades
  • #23,103
  • Nov 27, 2014 8:31am Nov 27, 2014 8:31am
I'm ending my trading off today with a 1.27%+
Very happy about the results, I made 1 mistake and it cost me some work to get back into + but if I keep this up tomorrow, then I will make just over 10% per week. Compounding that it would give me a return of just under 50% per month. I can live with that
So guys I'm out and will be back tomorrow, to rake the % in and not make any mistakes.
Thanks again Udine, this system really brings it all together.
  • #23,104
  • Nov 27, 2014 8:41am Nov 27, 2014 8:41am
Hey guys i am still sitting on hands today althought watching charts from Frankfurt opening..

So far found 1 trade on G/J 00 lvl few hours ago but was 1 pip from lvl and broker didn't let me to get in (would be profitable trade) but who cares i am up 6.31% this week so don't have to risk and i will continue wait or done day wothaout trade...

Sometimes trading can be sitting on hand also,and i am conservative!

Regards!
  • #23,105
  • Nov 27, 2014 8:41am Nov 27, 2014 8:41am
Quoting Masterrmind
{quote} I was hoping someone just anyone would notice this trade when I decided to take it because of its subtleties. Sounds like you are taking notice which is great! Candle formation is part of the answer: 1. 1st notice the hammer just before NY Open ...what does that tell you? 2. Why did I not take the trade at New York Open? 3. Why did I wait? 4. Does the pivot play any role in all of this? 5. What was the general trend from the Daily open line? 6. Was there any risk involved and if so what was it? These are hints and I am sure you can fill...
Thanks mate, i try to find all reasons

Greetz Michael
  • #23,106
  • Nov 27, 2014 8:43am Nov 27, 2014 8:43am
Quoting Masterrmind
{quote} I was hoping someone just anyone would notice this trade when I decided to take it because of its subtleties. Sounds like you are taking notice which is great! Candle formation is part of the answer: 1. 1st notice the hammer just before NY Open ...what does that tell you? 2. Why did I not take the trade at New York Open? 3. Why did I wait? 4. Does the pivot play any role in all of this? 5. What was the general trend from the Daily open line? 6. Was there any risk involved and if so what was it? These are hints and I am sure you can fill...
1. The hammer tells you, there may be a possible reversal long, or simply exhaustion of move short.
2. Could have went far north from there if the reversal took affect and been a quick 10 pip loss
3. Once the hammer was broken you confirm the possible continuation short.
4. The pivot had to be measured for the number of pips needed for trade so you dont run into that as support
5. Short
6. There was some risk as you can tell from the exhaustion of the hammer but the new money in the market with the sentiment short allowed for at least the push for the 5 pips...Also the obvious pivot you were looking at beneath the TP.

Well this is the way i see it at least. Hope I am close.

Cheers
Lionsden
  • #23,107
  • Nov 27, 2014 8:49am Nov 27, 2014 8:49am
Quoting lionsden
{quote} 1. The hammer tells you, there may be a possible reversal long, or simply exhaustion of move short. 2. Could have went far north from there if the reversal took affect and been a quick 10 pip loss 3. Once the hammer was broken you confirm the possible continuation short. 4. The pivot had to be measured for the number of pips needed for trade so you dont run into that as support 5. Short 6. There was some risk as you can tell from the exhaustion of the hammer but the new money in the market with the sentiment short allowed for at least the...
The idea was to allow traders some time to think about it first otherwise its just spoon feeding.

Anyway all good!

Masterrmind............
Master your Mind then Master your Trades
  • #23,108
  • Nov 27, 2014 8:56am Nov 27, 2014 8:56am
Quoting mrtdone
quick doubt: if it is a bank holiday one which is not a red news should we trade the system or leave 1 hour before and 30 min after as usual. because wukar news indi shows red bars. {image}
Generally if its a Bank holiday we try to avoid trading that particular pair.

However, I must confess that I have traded Bank holiday pairs in the past as well as now but I base trading them on the chart analysis and most other factors.

I guess the best advise would be to avoid the affected pairs because there will be other trades on other "unaffected" pairs that can be traded.

Hope that helps and Udine might have an opinion on this if I'm wayward!

Masterrmind..............
Master your Mind then Master your Trades
  • #23,109
  • Nov 27, 2014 8:57am Nov 27, 2014 8:57am
MM what was wrong with AU trade?
1. There is 5 pips room to move
2. M15 formed bullish candle after few uncertainty candles
3. H1 Ų D1 both were green
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  • #23,110
  • Nov 27, 2014 9:12am Nov 27, 2014 9:12am
WOW!

That is damn nasty that's what that is!

Major supply and demand issue at the time you took your trade (almost immediate reversal on a dime)

Weekly support at 0.85560 and the market wanted to test that level.

Previous attempts had fallen shy of the mark.

Note: Be aware that if targets have not been hit then it is probable that future attempts to hit them will be made.

Under the circumstances I'm not sure if you could have effectively avoided taking that trade.....it's just one that was meant for SL (sorry to say!)

Best to take some time to analyse it further in case I have missed something in my haste to answer your question.
Failing any reasonable answer to avoid taking that trade just count it as a loss and move on to the next trade.
There will be some trades that you simply won't be able to avoid SL on. Hopefully not too many!

Masterrmind.............
Master your Mind then Master your Trades
  • #23,111
  • Nov 27, 2014 9:21am Nov 27, 2014 9:21am
That's me done for the trading day.

Time to rest.....

Thanks to Michael for asking a great question......

Many thanks to Lionsden for his correct answer......

Good luck to all those still trading.....

Masterrmind...........
Master your Mind then Master your Trades
  • #23,112
  • Nov 27, 2014 9:23am Nov 27, 2014 9:23am
Quoting Masterrmind
That's me done for the trading day. Time to rest..... Thanks to Michael for asking a great question...... Many thanks to Lionsden for his correct answer...... Good luck to all those still trading..... Masterrmind...........
AND many THANKS for your hints and informations.

Thats awesome.

Greetz Michael
  • #23,113
  • Nov 27, 2014 9:26am Nov 27, 2014 9:26am
Quoting mwsteiner
{quote} AND many THANKS for your hints and informations. Thats awesome. Greetz Michael
We live and we learn so that fewer errors are made in the pursuit of greater profit.

Endless learning is what trading is all about.

Love it to the core!

See you all tomorrow for the last day of the trading week.

Masterrmind............
Master your Mind then Master your Trades
  • #23,114
  • Nov 27, 2014 9:28am Nov 27, 2014 9:28am
Last trade for today

GC to TP+. I had to recover a stupid lose from today now im rly happy

Greetz Michael
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  • #23,115
  • Nov 27, 2014 9:28am Nov 27, 2014 9:28am
Quoting mrtdone
quick doubt: if it is a bank holiday one which is not a red news should we trade the system or leave 1 hour before and 30 min after as usual. because wukar news indi shows red bars. {image}
When I have at least half of my daily dose in the pocket for the day, I simply dont trade the afternoon like today..

Udine
Sleep less, live fast, as it aint gonna last
  • #23,116
  • Nov 27, 2014 9:39am Nov 27, 2014 9:39am
Quoting Masterrmind
WOW! That is damn nasty that's what that is! Major supply and demand issue at the time you took your trade (almost immediate reversal on a dime) Weekly support at 0.85560 and the market wanted to test that level. Previous attempts had fallen shy of the mark. Note: Be aware that if targets have not been hit then it is probable that future attempts to hit them will be made. Under the circumstances I'm not sure if you could have effectively avoided taking that trade.....it's just one that was meant for SL (sorry to say!) Best to take some time to analyse...
Appreciate to your answer, really helps I am just losing my confidence zone while getting pretty much good into a trade and get kicked out from it..
Same situation was taken on GJ trade - really do not know the answer what went wrong (GU get to SL):
1. Nice shooting star
2. No S/R level
3. Enough room to go lower 5 pips

Did 185.3 worked as support level as price was struggling to move through it and finally it did?
Attached Image (click to enlarge)
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  • #23,117
  • Nov 27, 2014 9:45am Nov 27, 2014 9:45am
Quoting orangutangas
{quote} Appreciate to your answer, really helps I am just losing my confidence zone while getting pretty much good into a trade and get kicked out from it.. Same situation was taken on GJ trade - really do not know the answer what went wrong (GU get to SL): 1. Nice shooting star 2. No S/R level 3. Enough room to go lower 5 pips Did 185.3 worked as support level as price was struggling to move through it and finally it did? {image}

HA and ASH and MTFASH all green.. no way in hell I would go short...

look for the low risk entries..

it is good to look at candle formation (although its too complcated for me, I'm just as simple guy), but dont forget the basics of the strategy..

Udine
Sleep less, live fast, as it aint gonna last
  • #23,118
  • Nov 27, 2014 10:14am Nov 27, 2014 10:14am
Quoting Udine
{quote} HA and ASH and MTFASH all green.. no way in hell I would go short... look for the low risk entries.. it is good to look at candle formation (although its too complcated for me, I'm just as simple guy), but dont forget the basics of the strategy.. Udine
That trade is based on MM strategy more, less with HA and ASH, with more attention to price action
  • #23,119
  • Nov 27, 2014 10:17am Nov 27, 2014 10:17am
Quoting Masterrmind
That's me done for the trading day. Time to rest..... Thanks to Michael for asking a great question...... Many thanks to Lionsden for his correct answer...... Good luck to all those still trading..... Masterrmind...........

Many thanks to you for you patience for teaching. We all can learn from one another.


Peace,
Lionsden
  • #23,120
  • Nov 27, 2014 10:20am Nov 27, 2014 10:20am
Quoting orangutangas
{quote} That trade is based on MM strategy more, less with HA and ASH, with more attention to price action

first PDF & BCC with the basics then you can make the next step in your trading carreer...

The MM way of trading is more difficult... so get the basics under control first ..

Udine
Sleep less, live fast, as it aint gonna last
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