As simple as possible: 00 level trading

Quoting flx69

Disliked

Trade #3 o/t day: EJ out by TS. flx69 {image}

Ignored

Quoting Masterrmind

Disliked

{quote} 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...

Ignored

Quoting Masterrmind

Disliked

{quote} 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............

Ignored

Quoting Gluvina

Disliked

{quote} yes, definitely good exercise i will try to elaborate your trades further MM when you are looking for good setups, you are looking for "space" where your trades should be gone i think thats one of the reasons you use 15min candles for the 1H strategy it tells more about PA and now some pictures to explain my thoughts your au trade from 0.8420 hit TP {image} my aj trade hit SL {image} and ny trade hit TP {image}

Ignored

Quoting Udine

Disliked

{quote} What is better to trade a pair with an ADR (Average Daily Range) of 50 pips or 150 pips ?? the change to get your 10 pips is higher if you trade the pair with the bigger ADR! there are indicators to show the ADR of different pairs, but with the XADR indicator you have all the info you need. If RmUp or RmDn is NOT green (means is RED) then the ADR is (nearly) reached, so no more trading for that pair. Udine

Ignored

Quoting Dannyiow

Disliked

{quote} Hi Udine, There seems to be conflicting info on this. One person said if RmUp or RmDn is red you can trade in the opposite direction. Your rules state: "no more trading for that pair". Can you please clarify? Many thanks, Danny

Ignored

Quoting snail69

Disliked

{quote} Flx, this may be the reason. Who knows ? :nerd: {image}

Ignored

Quoting flx69

Disliked

{quote} In the opposite direction ? As in RmDn is red on a pair (so PA is far below D.O.), you would take a trade in the opposite direction (long) ? If RmUp or RmDn is in red, there´s no trading on that pair. Full stop. Now, if PA were to reverse, RmUp/RmDn turns green again, and the ATR is still smaller than the ADR then you could take a trade again. This taking into account all the rest of the system rules. Hope this answers your question ? flx69

Ignored

Quoting Dannyiow

Disliked

{quote} Hi Flx69, Thank you for your prompt response. But I have to say, being very new to this, none of that made sense. Can you please explain so my simple brain can understand? Many thanks again, Danny

Ignored

Quoting Masterrmind

Disliked

{quote} Now you're thinking. Chart analysis! Masterrmind............

Ignored

Quoting Gluvina

Disliked

{quote} i know, i know that's why i will demo 1H strategy first, then i can try on 15min brain feeding first!

Ignored

Quoting flx69

Disliked

{quote} Danny, did you read the Word document in post #1, outlining details of this system ? It gives an excellent explanation of the ATR/ADR, etc. flx69

Ignored

Quoting Masterrmind

Disliked

{quote} Sounds like a great idea! All the best. Masterrmind..........

Ignored

Quoting Dannyiow

Disliked

{quote} Hi flx69, Thanks again. I have read the doc and cannot see any reference to RmUp, RnDn, ATR or PA (I take that as price avg). I have just re-read the doc but still none the wiser! Sorry to appear confused and stupid. Many thanks, Danny

Ignored