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As simple as possible: 00 level trading

  • #23,741
  • Dec 3, 2014 5:14am Dec 3, 2014 5:14am
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
Good job !

GU trade - just to show you a bit PA why your trade was successful. Right below DP.
Attached Image (click to enlarge)
Click to Enlarge Name: ppGBPUSD+M15.png Size: 46 KB
  • #23,742
  • Dec 3, 2014 5:23am Dec 3, 2014 5:23am
Quoting Masterrmind
{quote} 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.............
Masterrmind
Thanks for your observations, Yes late on the USDCAD and yes slippage has went my way a few times too .

PU
  • #23,743
  • Dec 3, 2014 5:24am Dec 3, 2014 5:24am
Quoting Masterrmind
Trade #5 [Bonus trade #3] USDJPY +5 TP {image} Comment: This trade shows the power of the DO! Masterrmind...........
i forgot this one
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM15.png Size: 56 KB


@MM, i see you took uj trade at the third bar
waiting for PA to tell the story around DO, right?
  • #23,744
  • Dec 3, 2014 5:28am Dec 3, 2014 5:28am
Quoting snail69
{quote} Good job ! GU trade - just to show you a bit PA why your trade was successful. Right below DP. {image}
Thanks Snail
Starting to see the PA thing, some more study required, the charts here are a great help in explaining it

PU
  • #23,745
  • Dec 3, 2014 5:32am Dec 3, 2014 5:32am
Trade #7 USDJPY , +2.6
Attached Image
  • #23,746
  • Dec 3, 2014 5:35am Dec 3, 2014 5:35am
Trade #7 [Bonus trade #5]

AUDUSD +5 TP

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


Masterrmind...........
Master your Mind then Master your Trades
  • #23,747
  • Dec 3, 2014 5:36am Dec 3, 2014 5:36am
Quoting Gluvina
{quote} i forgot this one {image} @MM, i see you took uj trade at the third bar waiting for PA to tell the story around DO, right?
What about the big red candle next door.

Wouldn't that be cause for alarm?

Food for thought!

Masterrmind........... :nerd:
Master your Mind then Master your Trades
  • #23,748
  • Dec 3, 2014 5:52am Dec 3, 2014 5:52am
Quoting Masterrmind
Trade #6 [Bonus trade #4] EURAUD +5 TP {image} Masterrmind...........
i also took this trade.I am learning alot from your chats MM,please keep positing and may God bless you
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  • #23,749
  • Dec 3, 2014 5:59am Dec 3, 2014 5:59am
Quoting justomonla
{quote} i also took this trade.I am learning alot from your chats MM,please keep positing and may God bless you{image}
Likewise to you my friend.

Its great to see they are being noticed and applied in other traders setups.

Well done!

Masterrmind...........
Master your Mind then Master your Trades
  • #23,750
  • Dec 3, 2014 6:05am Dec 3, 2014 6:05am
waiting for this.though price has started making higher lows...just trying somthing out
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  • #23,751
  • Dec 3, 2014 6:06am Dec 3, 2014 6:06am
Just one question MasterrMind... At what distance, in pips, do you set your pending orders at least from PA to the next 00 level?

Thank you in advance,
  • #23,752
  • Dec 3, 2014 6:07am Dec 3, 2014 6:07am
Quoting Masterrmind
{quote} What about the big red candle next door. Wouldn't that be cause for alarm? Food for thought! Masterrmind........... :nerd:
ooops, thanks MM

need to learn a lot about PA
  • #23,753
  • Dec 3, 2014 6:10am Dec 3, 2014 6:10am
Trade #8 [Bonus trade #6]

EURUSD +5 TP

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


Masterrmind...........
Master your Mind then Master your Trades
  • #23,754
  • Dec 3, 2014 6:11am Dec 3, 2014 6:11am
EU +4.2
Attached Image (click to enlarge)
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  • #23,755
  • Dec 3, 2014 6:16am Dec 3, 2014 6:16am
UJ +1.7
Attached Image (click to enlarge)
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  • #23,756
  • Dec 3, 2014 6:18am Dec 3, 2014 6:18am
Quoting sEit89
Just one question MasterrMind... At what distance, in pips, do you set your pending orders at least from PA to the next 00 level? Thank you in advance,
It really depends on the chart in question (ie the one being analysed)

Sometimes depending on what I see quite often I might wait for price to move anywhere up to 8-9 pips away and then place the pending order.

I use this little trick when I wish to tease price down to my entry. If it doesn't return to my entry point then it doesn't matter and most likely was not meant to be. If it does turn around to get me into that trade then I feel more confident about the setup.

If momentum is strong I might just enter the trade/pending order immediately provided the chart analysis and other considerations are favorable.

Good trading,

Masterrmind.........
Master your Mind then Master your Trades
  • #23,757
  • Dec 3, 2014 6:19am Dec 3, 2014 6:19am
Quoting Gluvina
{quote} ooops, thanks MM need to learn a lot about PA
You didn't say anything wrong at all Gluvina.

You are on the right track.

I was trying to test your understanding further that's why I ask the question.

Do you know the answer?

Masterrmind............
Master your Mind then Master your Trades
  • #23,758
  • Dec 3, 2014 6:35am Dec 3, 2014 6:35am
Trade #3 o/t day: EJ out by TS.

flx69
Attached Image (click to enlarge)
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  • #23,759
  • Dec 3, 2014 6:53am Dec 3, 2014 6:53am
Quoting Masterrmind
{quote} You didn't say anything wrong at all Gluvina. You are on the right track. I was trying to test your understanding further that's why I ask the question. Do you know the answer? Masterrmind............
... maybe even my gu trade should be taken at the third bar, especially because of the recent news

you have a lot of brain food MM


...a lot
  • #23,760
  • Dec 3, 2014 7:02am Dec 3, 2014 7:02am
Quoting Gluvina
{quote} ... maybe even my gu trade should be taken at the third bar, especially because of the recent news you have a lot of brain food MM ...a lot
Its good exercise for the brain.

PA is the main reason, the big red candle got stopped in its tracks, price reversed and headed up again, opened my trade and hit TP.

Masterrmind............
Master your Mind then Master your Trades
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