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As simple as possible: 00 level trading

  • #23,721
  • Dec 3, 2014 4:15am Dec 3, 2014 4:15am
Muy buenos días!!!!

Let's go...

Trade #1 GBPUSD, +5
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  • #23,722
  • Dec 3, 2014 4:17am Dec 3, 2014 4:17am
Trade #2 USDJPY, out by TS +0.5
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  • #23,723
  • Dec 3, 2014 4:18am Dec 3, 2014 4:18am
Trade #3, EURUSD out by TS +1.3
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  • #23,724
  • Dec 3, 2014 4:19am Dec 3, 2014 4:19am
Trade #4, USDCHF closed manually +3.1
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  • #23,725
  • Dec 3, 2014 4:21am Dec 3, 2014 4:21am
Trade #5, EURJPY +4
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  • #23,726
  • Dec 3, 2014 4:23am Dec 3, 2014 4:23am
Trade #6, GBPUSD +5.1
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  • #23,727
  • Dec 3, 2014 4:23am Dec 3, 2014 4:23am
Coffe time...
  • #23,728
  • Dec 3, 2014 4:26am Dec 3, 2014 4:26am
I know the mantra is 5 pips per trade but it is a shame when you are in a trade and (apart from some pullbacks) it sails away for 20+ pips. GBPJPY a good example. I wonder if an EA to move the stop to B/E +3.5 and then hold that until a larger TP is hit might prove profitable. I accept I am knew to this system and this is just an observation whilst I build up my own history of the trades taken.
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  • #23,729
  • Dec 3, 2014 4:29am Dec 3, 2014 4:29am
Quoting TraderJak
I know the mantra is 5 pips per trade but it is a shame when you are in a trade and (apart from some pullbacks) it sails away for 20+ pips. GBPJPY a good example. I wonder if an EA to move the stop to B/E +3.5 and then hold that until a larger TP is hit might prove profitable. I accept I am knew to this system and this is just an observation whilst I build up my own history of the trades taken. {image}
You just need to apply a trailing EA similar to what you see posted at the top right of my charts.

I use it to great effect on occasion works like a charm.....very good.

Note: In terms of trading this strategy keep in mind that for your TP of 5 pips this represents a gain of about 1% on your account. So 2 great trades @ 5 pips each is 10 pips a day = 2% account growth.
That's 10% / week
That's 40% / month
Plenty really don't you think?

Masterrmind...........
Master your Mind then Master your Trades
  • #23,730
  • Dec 3, 2014 4:30am Dec 3, 2014 4:30am
Quoting sEit89
Coffe time...
sEit89: bravo ! But try and don´t overtrade...

flx69
  • #23,731
  • Dec 3, 2014 4:35am Dec 3, 2014 4:35am
Quoting flx69
{quote} sEit89: bravo ! But try and don´t overtrade... flx69
That's a real danger to any new trader for sure.

Get some confidence up and over trade just to return back to square #1....which is not what anyone wants.

Control that enthusiasm!

Good trading,

Masterrmind...........
Master your Mind then Master your Trades
  • #23,732
  • Dec 3, 2014 4:42am Dec 3, 2014 4:42am
Trade #6 [Bonus trade #4]

EURAUD +5 TP

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Masterrmind...........
Master your Mind then Master your Trades
  • #23,733
  • Dec 3, 2014 4:47am Dec 3, 2014 4:47am
EU +5
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  • #23,734
  • Dec 3, 2014 4:50am Dec 3, 2014 4:50am
USDCAD to TP

I have the WUKAR trail EA set to TP 5.5 with no TS or BE. IT looks like price pierced the TP before the EA fired, Operator error or EA error?
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For Masterrmind, am I on the right track with this one
GU to TP
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Thanks
PU
  • #23,735
  • Dec 3, 2014 4:51am Dec 3, 2014 4:51am
Quoting Masterrmind
{quote} That's a real danger to any new trader for sure. Get some confidence up and over trade just to return back to square #1....which is not what anyone wants. Control that enthusiasm! Good trading, Masterrmind...........
I am with you guys, need more patience but just trading on demo account and... I am harrd studying the whole thread, actually reading page 475... Maybe live trading after first Januar 2015, but need more confidence and learning for the pros like you!

Stay green!
  • #23,736
  • Dec 3, 2014 4:52am Dec 3, 2014 4:52am
Quoting Masterrmind
{quote} Looks like a reasonable trade. However, Initially I would have only went for 5 pips based on the formations present on the UC chart. I'm assuming your trade follows all the rules re news etc (which I have not checked) Otherwise pips in your pocket! Good trading, Masterrmind...........
thanks for your comment MM
  • #23,737
  • Dec 3, 2014 4:58am Dec 3, 2014 4:58am
Quoting pullup
USDCAD to TP I have the WUKAR trail EA set to TP 5.5 with no TS or BE. IT looks like price pierced the TP before the EA fired, Operator error or EA error? {image} For Masterrmind, am I on the right track with this one GU to TP {image} Thanks PU
UC trade - By the rules you'd want to short from the 900 level wouldn't you?
Either way TP went your way.

Sometimes when Price moves fast the TP will over shoot the mark (delay time related to price on chart, activation of EA from terminal to broker. Slippage in short (if it goes your way.....its very nice indeed)

GU trade -

Masterrmind.............
Master your Mind then Master your Trades
  • #23,738
  • Dec 3, 2014 5:01am Dec 3, 2014 5:01am
Quoting Gluvina
{quote} thanks for your comment MM
No trouble at all!

Masterrmind.........
Master your Mind then Master your Trades
  • #23,739
  • Dec 3, 2014 5:05am Dec 3, 2014 5:05am
GU to TP
Comment: only 1.1 pips to SL... luck matters
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Porta itineris dicitur longissima esse
  • #23,740
  • Dec 3, 2014 5:12am Dec 3, 2014 5:12am
so far

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now i see RmDn was red (just a little bit)


any comments are welcome
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