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As simple as possible: 00 level trading

  • #25,561
  • Jan 9, 2015 7:09am Jan 9, 2015 7:09am
Quoting Vlad13685
Any feedback on this trade? Was sure it was going to be a winner... Only thing I can think of is news? {image}
Zoom out..
Before you sit down to trade simply zoom out and highlight the trouble areas EVERY DAY

- you even had divergence aswell

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  • #25,562
  • Jan 9, 2015 7:40am Jan 9, 2015 7:40am
Quoting moretti12
{quote} Zoom out.. Before you sit down to trade simply zoom out and highlight the trouble areas EVERY DAY - you even had divergence aswell {image}
Ok agree and simply to spot...
but what about this one?
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  • #25,563
  • Jan 9, 2015 7:44am Jan 9, 2015 7:44am
guys, girls,

please stop acting as this is a regular trading day...

it is the time of the month, where nothing is normal... and the market does not behave like normal..

For me it is early weekend...

Cheers

Udine
Sleep less, live fast, as it aint gonna last
  • #25,564
  • Jan 9, 2015 7:50am Jan 9, 2015 7:50am
Quoting fakeylover
Ok agree and simply to spot... but what about this one?
The first 00 cross after the close of the previous bar is 180.600 instead of 180.650 in which case you would've hit your TP.

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  • #25,565
  • Jan 9, 2015 8:01am Jan 9, 2015 8:01am
Quoting JibalaPasan
@Emmpoli, have a look on chart above, it's a good example. While gigicualex entered nothing happened here, no reaction! GBP is strong but USD not weak enough. Also PsyLevel is mixed, not sync. Jibala
It is either i'm understanding you better @ jibala or my brain is swelling. correct me if i'm wrong, supposing GBPJPY is nicely trending up and price action gives you a good reason to take a trade(long), u will decline taking such trade if the JPY strength is not really weak or jpy is beginning to gain sudden strength. true or falls?
  • #25,566
  • Jan 9, 2015 8:05am Jan 9, 2015 8:05am
Quoting rcsltd
{quote} The first 00 cross after the close of the previous bar is 180.600 instead of 180.650 in which case you would've hit your TP. {image}
impossible 'cause of spread...
  • #25,567
  • Jan 9, 2015 8:14am Jan 9, 2015 8:14am
EU +5
AU +1 ts
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  • #25,568
  • Jan 9, 2015 8:28am Jan 9, 2015 8:28am
Quoting fakeylover
EU +5 AU +1 ts {image} {image}
risky trades after NFP

btw you can select the second option when you save the Chart. It shows only the present Chart and not the whole worspace.
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  • #25,569
  • Jan 9, 2015 8:30am Jan 9, 2015 8:30am
Quoting yelena
In one Friday of the month, there is this insidious and unforgiving NFP where most pairs just chops until the news is released. And when it's done, even after two hours, the price whips like 70 points up and down. Since this system stays away from red, NFP day should be treated like the start of a long weekend for systems like this. Udine, how does the Renko survive / thrive in such market conditions?
Wow, you're back! Welcome back Yelena!
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #25,570
  • Jan 9, 2015 8:32am Jan 9, 2015 8:32am
this is a good case for a more detailed study about entry .. placing the entry at the close of the candle H1 to 81.6 price has enabled then return to BE ... waiting for a reaction with the first candle M15 would have a signal , the entry always to 81.6 but the price directly to TP ... Udine mean this when he speaks of waiting for the candle of the same color of the H1 D1 ? I'm looking for perfection it takes to make this system work
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  • #25,571
  • Jan 9, 2015 8:34am Jan 9, 2015 8:34am
Quoting piphunt3r
{quote} risky trades after NFP btw you can select the second option when you save the Chart. It shows only the present Chart and not the whole worspace. {image}
30 M after news release... observing the strength of the pair...
  • #25,572
  • Jan 9, 2015 8:38am Jan 9, 2015 8:38am
Quoting fakeylover
{quote} Ok agree and simply to spot... but what about this one? {image}
The trade is definitely valid, but there are so many reasons why you shouldn't take it.

I'll list them:

- It is NFP day
- your setup is near DO
- GBP/JPY has been consolidated for 2 days now. why would you expect it to breakout on a friday?
- and last but not least, you go long at the resistance.
  • #25,573
  • Jan 9, 2015 8:51am Jan 9, 2015 8:51am
hi,
i want to know what is the use of these 3 lines in chart (red and yellow)
thanks
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  • #25,574
  • Jan 9, 2015 8:55am Jan 9, 2015 8:55am
Quoting moretti12
{quote} The trade is definitely valid, but there are so many reasons why you shouldn't take it. I'll list them: - It is NFP day - your setup is near DO - GBP/JPY has been consolidated for 2 days now. why would you expect it to breakout on a friday? - and last but not least, you go long at the resistance.
All good... except for the resistance... show me... thanks..
  • #25,575
  • Jan 9, 2015 8:59am Jan 9, 2015 8:59am
Quoting heispark
{quote} Wow, you're back! Welcome back Yelena!
Thank you. It's very sweet of you, Justin Just paying homage and trying to contribute to a highly satisfactory system.
  • #25,576
  • Jan 9, 2015 9:01am Jan 9, 2015 9:01am
Quoting fakeylover
{quote} All good... except for the resistance... show me... thanks..
i can take you to the water pool but i cannot make you drink..
  • #25,577
  • Jan 9, 2015 9:04am Jan 9, 2015 9:04am
Quoting moretti12
{quote} i can take you to the water pool but i cannot make you drink..
No resistance... the top of the range is 180.90...
  • #25,578
  • Jan 9, 2015 9:06am Jan 9, 2015 9:06am
Quoting mirzausman
hi, i want to know what is the use of these 3 lines in chart (red and yellow) thanks {image}
The yellow marks the BRN (.000)

The red are the warning lines not to take a long on the .900 into the .000 and not to take a short on the .100 into the .000.

Vlad
  • #25,579
  • Jan 9, 2015 9:12am Jan 9, 2015 9:12am
Quoting Emmpoli
{quote} It is either i'm understanding you better @ jibala or my brain is swelling. correct me if i'm wrong, supposing GBPJPY is nicely trending up and price action gives you a good reason to take a trade(long), u will decline taking such trade if the JPY strength is not really weak or jpy is beginning to gain sudden strength. true or falls?
It's defined in the rules of the automated trading program (no EA) that strength must have certain level for buy / sell. If a pair doesn't hit that level, NO DEAL! For example strength of market is 2.33, thus the currency I'm going to buy must be >= 2.33 and PsyLevels must also be sync.

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #25,580
  • Jan 9, 2015 9:16am Jan 9, 2015 9:16am
Quoting fakeylover
{quote} impossible 'cause of spread...
Then don't take the trade.

Show me the rule that says "if you can't get in at the first cross of the 00 because of spread then take the trade at the next 00 level".
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