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As simple as possible: 00 level trading

  • #25,061
  • Dec 19, 2014 5:23am Dec 19, 2014 5:23am
Quoting piphunt3r
{quote} I didn't took a trade on EUR/JPY because price is hovering around the Daily resistance 1 Price hasn't decided yet where it wants to go. {image}
Much appreciation for getting in touch.
I do indeed take on your point and this was my 'concern' when taking the trades.

In my mind the resistance level was at the 146.700 level... as a result I traded the pair as a channel and 146.700 being the top and 146.500 as the bottom. Price seemed to bounce from one back to thru other all morning!

Please see below picture to make sense what I'm taking about!

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot (27).png Size: 52 KB




Not sure if this was a viable way to treat it, I presume you say no?

Many thanks again.
  • #25,062
  • Dec 19, 2014 5:40am Dec 19, 2014 5:40am
Quoting flinx
{quote} Much appreciation for getting in touch. I do indeed take on your point and this was my 'concern' when taking the trades. In my mind the resistance level was at the 146.700 level... as a result I traded the pair as a channel and 146.700 being the top and 146.500 as the bottom. Price seemed to bounce from one back to thru other all morning! Please see below picture to make sense what I'm taking about! {image} Not sure if this was a viable way to treat it, I presume you say no? Many thanks again.
I see now what you mean. But with Daily resistance 1 I'm referring to the the pivot point.

DR1 is located right between on the 146.600 level.
  • #25,063
  • Dec 19, 2014 5:41am Dec 19, 2014 5:41am
Hi All,

the market today seems to be rather choppy and unpredictable. I manage to score one winning trade since London Open...Miss a couple on the EURUSD earlier...

Trade in sync with GBPJPY

GBPUSD [ +5 pips]

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15_19_12_14.png Size: 47 KB
  • #25,064
  • Dec 19, 2014 5:44am Dec 19, 2014 5:44am
Quoting snail69
EU +13 Not easy environment today. {image}

Getting near the end of the year..

there might be a reason I dont trae live anymore until the 7th of January..

Udine
Sleep less, live fast, as it aint gonna last
  • #25,065
  • Dec 19, 2014 5:44am Dec 19, 2014 5:44am
Guess who's Baq, Baq again

Inserted Video


couldn't resist

PU
  • #25,066
  • Dec 19, 2014 5:55am Dec 19, 2014 5:55am
Quoting piphunt3r
{quote} I see now what you mean. But with Daily resistance 1 I'm referring to the the pivot point. DR1 is located right between on the 146.600 level.
Sorry - I'm unfamiliar with what the DR1 is, it doesn't appear to be on my chart?
Would you mind telling me what it is or the post where it is explained?
Thanks
  • #25,067
  • Dec 19, 2014 6:20am Dec 19, 2014 6:20am
Quoting flinx
{quote} Sorry - I'm unfamiliar with what the DR1 is, it doesn't appear to be on my chart? Would you mind telling me what it is or the post where it is explained? Thanks
Sure no problem!

In the paperclip of this thread you can find some pivot indicators

For explanation about pivot points have a look here : http://www.babypips.com/school/middl...ot-points.html
  • #25,068
  • Dec 19, 2014 6:22am Dec 19, 2014 6:22am
Quoting pullup
Guess who's Baq, Baq again http://youtu.be/nxpTx0VDBKw?t=20s couldn't resist PU
LOL, yeah, was first thing i noticed too.
Same screen, same questions.
Persistence will get it. Consistency will keep it.
  • #25,069
  • Dec 19, 2014 7:05am Dec 19, 2014 7:05am
Quoting piphunt3r
{quote} Sure no problem! In the paperclip of this thread you can find some pivot indicators For explanation about pivot points have a look here : http://www.babypips.com/school/middl...ot-points.html
Perfect, thanks!
Hmm..interesting, I now see what you mean...
The pivot indicator seems to give ideas as to where price may reverse, although from what I can see it seems to give general areas and price doesn't follow it exactly, I think ill incorporate them into my strategy and use it for areas to at least be cautious about!
  • #25,070
  • Edited 8:16am Dec 19, 2014 7:56am | Edited 8:16am
EJ to TP [H1]
Comment : i left this trade running a couple of hours ago, before a long break for lunch and i was lucky ... touched SL to the pip then bounced to TP. Sometimes okay sometimes goes wrong, back to the green and think to stop trading for the day.
Attached Image (click to enlarge)
Click to Enlarge Name: EJ_TP.png Size: 58 KB
Porta itineris dicitur longissima esse
  • #25,071
  • Dec 19, 2014 8:02am Dec 19, 2014 8:02am
Quoting ngeng
{quote} Sorry Udine. It's just my assumption if the trade didn't went according to your way. But entry was base on the rules.
Following the rules of this method (or any method) does not guarantee every trade will win. You will have losers. Accept them; embrace them.

Following the rules of this method does virtually guarantee that every extended series of trades will win. The longer the series, the greater the guarantee.

Dial

P.S. Udine, I'm up to around post 2000 in this thread. Only 21000+ to go to earn my wings!
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #25,072
  • Dec 19, 2014 8:15am Dec 19, 2014 8:15am
HI all, Thank you udine for the K.I.S.S. system.... in respond to Flinx and for positive exchanges, for me , I prefer to use the daily open line... When the market is uner , it is time to SELL and if it is above it is time to BUY; But if the market is bethween daily open line and the daily pivot the market is in change status maybe up may be down... you never know.... but i synchronise my input with the dailyopen line
for this raison, I am in waiting state each time the m,arket in bethween the 2 indicators.

I read also some posts and some person don't like to risk 2:1.... but their persons forget the daily goal is only 5 pips when the market have a maximum of momentum.. May be, I can suggest to adjust the lot size for their confort and take the daily open line for the hard stop loss but in mind kept the limit ( 5-10 pips realy présent). It is a part of émotionnel control that every person have to learn...

Thank you

Have a nice day


liberty55
  • #25,073
  • Dec 19, 2014 8:17am Dec 19, 2014 8:17am
Hello guys, what was wrong here?
-H1 system, new hour new level
-10 pips sl.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.png Size: 55 KB
  • #25,074
  • Dec 19, 2014 8:27am Dec 19, 2014 8:27am
Quoting Chake
{quote} LOL, yeah, was first thing i noticed too. Same screen, same questions.
having a deja vue as well..

time will tell

Udine
Sleep less, live fast, as it aint gonna last
  • #25,075
  • Dec 19, 2014 8:30am Dec 19, 2014 8:30am
Quoting diallist
{quote} Following the rules of this method (or any method) does not guarantee every trade will win. You will have losers. Accept them; embrace them. Following the rules of this method does virtually guarantee that every extended series of trades will win. The longer the series, the greater the guarantee. Dial P.S. Udine, I'm up to around post 2000 in this thread. Only 21000+ to go to earn my wings!

Hi Dial,

the next two weeks trading will slow down, so you will have some extra time on your hands to do some extra reading

Cheers

Udine
Sleep less, live fast, as it aint gonna last
  • #25,076
  • Dec 19, 2014 8:36am Dec 19, 2014 8:36am
Quoting Baq
Hello guys, what was wrong here? -H1 system, new hour new level -10 pips sl. {image}

Kubiasty,Baq,

who are you trying to fool???

your out again...

Move on buddy, since the 13th November you have not even started to read from page 1, post 1..

enjoy your time, but not on this thread..

cheers

Udine
Sleep less, live fast, as it aint gonna last
  • #25,077
  • Dec 19, 2014 8:42am Dec 19, 2014 8:42am
Quoting Baq
Hello guys, what was wrong here? -H1 system, new hour new level -10 pips sl. {image}

I had the same problem like BAQ:

Could you tell me why this didnt worked out?

SL -10 pips

Attached Image
  • #25,078
  • Dec 19, 2014 8:48am Dec 19, 2014 8:48am
Have a great weekend everyone!

It's that time of the year where we celebrate all the things that are important to us.

Family, friends and yes you guessed it............. trading too!

Take care,

Masterrmind............
Master your Mind then Master your Trades
  • #25,079
  • Dec 19, 2014 8:57am Dec 19, 2014 8:57am
Quoting Masterrmind
Have a great weekend everyone! It's that time of the year where we celebrate all the things that are important to us. Family, friends and yes you guessed it............. trading too! Take care, Masterrmind............
enjoy the weekend

cheers

Udine
Sleep less, live fast, as it aint gonna last
  • #25,080
  • Dec 19, 2014 9:08am Dec 19, 2014 9:08am
GU to TP [M15]
Comment : enough momentun, seemed a good setup.
Attached Image (click to enlarge)
Click to Enlarge Name: GU_TP.png Size: 55 KB
Porta itineris dicitur longissima esse
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