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As simple as possible: 00 level trading

  • #25,661
  • Jan 12, 2015 9:35am Jan 12, 2015 9:35am
[quote = Mariodrugs; 7987428] {quote} Strange, Má otevřeno denne, JE mnohem nižší, .. {image} [/ quote]
Ano, já taky tam je mezera
  • #25,662
  • Jan 12, 2015 9:52am Jan 12, 2015 9:52am
Quoting Mariodrugs
{quote} Strange, my daily open is much lower.. {image}
Mario, your DO is just fine. I work with Daily Pivot as line of reference.
  • #25,663
  • Jan 12, 2015 9:55am Jan 12, 2015 9:55am
guys, girls,

have to run..

was not really active today in here, but tomorrow will be better

cheers

Udine
Sleep less, live fast, as it aint gonna last
  • #25,664
  • Jan 12, 2015 10:14am Jan 12, 2015 10:14am
Quoting snail69
{quote} Exactly. It is like news, quite unpredictable. Not for new traders to trade. Those cowboys like to play games. Oh they do...
As far as I read this thread there was talked that market opens are the best for trades.
From first page
10. Higher probability at market opens (new money into the market
  • #25,665
  • Jan 12, 2015 10:25am Jan 12, 2015 10:25am
Only one trade today.
H1 method.
EU L TP.
Attached Image (click to enlarge)
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  • #25,666
  • Jan 12, 2015 10:26am Jan 12, 2015 10:26am
[15M] GJ to TS
Attached Image
  • #25,667
  • Jan 12, 2015 10:32am Jan 12, 2015 10:32am
GU to TP +6.2
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-01-12_18-29-02 - GBPUSD,M15.jpg Size: 130 KB
  • #25,668
  • Jan 12, 2015 10:34am Jan 12, 2015 10:34am
Quoting rjsimp
{quote} As far as I read this thread there was talked that market opens are the best for trades. From first page 10. Higher probability at market opens (new money into the market
Will not argue here on that. Why to jump the first minute market opens into a trade ...
  • #25,669
  • Jan 12, 2015 10:53am Jan 12, 2015 10:53am
Quoting snail69
{quote} Mario, your DO is just fine. I work with Daily Pivot as line of reference.
Why do you prefer to use pivot instead of DO?
  • #25,670
  • Jan 12, 2015 10:56am Jan 12, 2015 10:56am
Quoting Axiom
GU to TP +6.2 {image}
Why you choose to enter at 1.5140? the daily pivot was not above your tp ?
  • #25,671
  • Jan 12, 2015 11:06am Jan 12, 2015 11:06am
Quoting snail69
{quote} Will not argue here on that. Why to jump the first minute market opens into a trade ...
Before Udine presents m15 trading all trades with h1 system, where trades open only at new hour. So trades at LO and NO was not valid? I could find plenty screenshot (from Udine too) where trades opened exactly and market opens. Not need search too far
http://www.forexfactory.com/showthre...11#post7944711

I just try to find reason why this trade was wrong to avoid it in the future. But I read thread from the first page and always trades at market opens was good trades but today are not... Sorry, I don't understand.
  • #25,672
  • Jan 12, 2015 11:15am Jan 12, 2015 11:15am
Quoting fakeylover
{quote} Why you choose to enter at 1.5140? the daily pivot was not above your tp ?
Hi fakey

Yes, it was risky to take the trade just above the DP so i entered with half my normal size.
Price, though had gone below the 200ma and i thought it may go the few pips i wanted which was within the fib 61.8 retracement level (measured from swing low just after LO).
Also, PsyLevels were all red on M5, M15, M30, H1, H4, D1 tf's.

In hindsight, I would not do this again.

Axiom
  • #25,673
  • Jan 12, 2015 12:17pm Jan 12, 2015 12:17pm
Quoting rjsimp
{quote} Before Udine presents m15 trading all trades with h1 system, where trades open only at new hour. So trades at LO and NO was not valid? I could find plenty screenshot (from Udine too) where trades opened exactly and market opens. Not need search too far http://www.forexfactory.com/showthre...11#post7944711 I just try to find reason why this trade was wrong to avoid it in the future. But I read thread from the first page and always trades at market opens was good trades but today are not... Sorry, I don't understand.
RJ, unfortunately it is not so simple. Market is ever changing organism.

In that case around NY price ended in 38% retracement and at same time 3 black crows appeared.

Draw a horizontal line at level 1.51300 and look to the left... SD level
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD+M15.png Size: 138 KB
  • #25,674
  • Jan 12, 2015 12:19pm Jan 12, 2015 12:19pm
UJ +35 PDF, Udine's entry and all good.
Attached Image (click to enlarge)
Click to Enlarge Name: pUSDJPY1+M15.png Size: 69 KB
  • #25,675
  • Jan 12, 2015 1:30pm Jan 12, 2015 1:30pm
Hi
I use Udines Buy/Sell scripts testing the 00 Levels and have found them very useful and have started using them else where as well and was wondering if someone could do me a modified version that works the same but places the pending order X distance from the "Daily Open Line" indicator all the other settings stay the same.

Quoting Udine
{quote} please post your request in the platform tech, as it has nothing to do with this strategy.. thx in advance Udine
Hi,
Sorry UDINE I only asked here as i thought it was your script

Could you tell me who originally wrote it or where i cound get the MQ4 file to modify it

Thanks
  • #25,676
  • Jan 12, 2015 1:53pm Jan 12, 2015 1:53pm
Draw a horizontal line at level 1.51300 and look to the left... SD level {image}[/quote]

Hi Snail,

I'm trying to learn from your analysis...I've looked to the left of this chart for SD? level...sorry what are you seeing?

Thanks,
Rapid.
  • #25,677
  • Jan 12, 2015 2:40pm Jan 12, 2015 2:40pm
Hello,

I have been following this thread and practicing daily. Have read the entire thread. I still struggle to avoid negative trades. Can you provide some feedback on this trade. I feel I am missing something.

Thank You
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY011215.png Size: 99 KB
  • #25,678
  • Jan 12, 2015 2:55pm Jan 12, 2015 2:55pm
Hello, I,m new here and read the whole thread, puhh. Thank you Udine and many others for your ideas and your help!

It would be great if anybody could send me a template for the 15 min strategy.
  • #25,679
  • Jan 12, 2015 3:40pm Jan 12, 2015 3:40pm
Quoting dlouw
Hello, I have been following this thread and practicing daily. Have read the entire thread. I still struggle to avoid negative trades. Can you provide some feedback on this trade. I feel I am missing something. Thank You {image}
Hi
One piece of advice. Never trade NY session unless absolutely sure what you are doing.
My Daily open is at 179.62 so price would be to close to DO = no trade
and my MTF is red = no trade

Stick to London session chose your trades and you should be OK.
  • #25,680
  • Jan 12, 2015 5:00pm Jan 12, 2015 5:00pm
Quoting dlouw
Hello, I have been following this thread and practicing daily. Have read the entire thread. I still struggle to avoid negative trades. Can you provide some feedback on this trade. I feel I am missing something. Thank You {image}
Couple of things.

1. Time of day - this method works best at Frankfurt, London, and NY open times. Personally I trade for 3 hours, starting with Frankfurt open, and then have a look again at New York open if I'm awake. Trading late in the NY session is asking for trouble.

2. Look to the left, what do you see? I see a strong move down followed by a long period of consolidation. Your trade comes during the consolidation, and couple that witht he time of day, and you've got a flip of the coin chance of being right. What you're looking for is trend, retrace, SIGNAL, Entry.
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