As simple as possible: 00 level trading | Page 1302 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

SIMPLE EA for a simple method needed!! 2 replies

As simple as possible: RENKO M5 trading 75 replies

Trading is this Simple? Finally Explained simple and clearly! 46 replies

Simple Level Trading 1 reply

Trading: As simple as possible, but no simpler - by a real Cityboy 92 replies

Attachments: As simple as possible: 00 level trading
Exit Attachments

As simple as possible: 00 level trading

  • #26,021
  • Jan 21, 2015 4:37am Jan 21, 2015 4:37am
Quoting Masterrmind
{quote} There is a bit going on in that chart. Here is what I saw. 1. Awareness of possible trend reversal coming out of the end of FF and starting into London (not always but often enough) 2. Long bearish red candle stopping hard before the DO (this got my interest fast) 3. Something you can't tell from the posted chart but I waited for entry (I did not place a pending order at the new hour...I waited and I watched) 4. Look at the very strong rejection candle M15 at start of London which actually tests the DO but is instantly rejected ....(I like...
Awesome! Thanks very much, this is valuable stuff!

Vlad
  • #26,022
  • Jan 21, 2015 4:43am Jan 21, 2015 4:43am
Trade #2 EU SL

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM15.png Size: 47 KB


Again not as safe as i would like and this time i payed for it.

Asmodai
  • #26,023
  • Jan 21, 2015 4:46am Jan 21, 2015 4:46am
Quoting JibalaPasan
Small correction on profit with AUDJPY & EURNZD. {image} Machine stopped for today! Jibala
Do you trade automatic?
  • #26,024
  • Jan 21, 2015 4:51am Jan 21, 2015 4:51am
Quoting iwan73
H1 and M15 mathod at the same trade. EU L SL {image}
Use H1 time frame, you will see a huge down trend.

Numberman
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 64 KB
  • #26,025
  • Jan 21, 2015 5:16am Jan 21, 2015 5:16am
Quoting Masterrmind
Trade #2 USDJPY +5 TP {image} Masterrmind...........
Hello MM ! congratulations for the excellent operations , as always ! A question that is important to me , you place the order after the PA signal or you place at the close of the candle H1 ? We look at this graph of UJ , you have placed the short to the closure of the previous candle , and then on the first level 00 , or you have inserted after the formation of the shooting star ? If you wait to place orders confirm a pattern of PA , if the candle that gives you the signal closes below the first level 00 what do you do ? Open the position on the next level ? thanks as always !
  • #26,026
  • Jan 21, 2015 5:26am Jan 21, 2015 5:26am
Quoting numberman
{quote} Use H1 time frame, you will see a huge down trend. Numberman {image}
ok is true but this is not in the system... beacuse if you care of the overall trend you have to pass the 90% of the trade...
  • #26,027
  • Jan 21, 2015 5:27am Jan 21, 2015 5:27am
Quoting JibalaPasan
Small correction on profit with AUDJPY & EURNZD. {image} Machine stopped for today! Jibala
Hi Jibala

Gatz on you beautiful results..

Could you please elaborate on what you exactly are looking for in a setup... I assume you are not trading neither semi- or full- automatically..

I cant really see a coherence in your entries other than you are following a relatively strong trend..
  • #26,028
  • Jan 21, 2015 5:49am Jan 21, 2015 5:49am
Quoting fakeylover
{quote} Hello MM ! congratulations for the excellent operations , as always ! A question that is important to me , you place the order after the PA signal or you place at the close of the candle H1 ? We look at this graph of UJ , you have placed the short to the closure of the previous candle , and then on the first level 00 , or you have inserted after the formation of the shooting star ? If you wait to place orders confirm a pattern of PA , if the candle that gives you the signal closes below the first level 00 what do you do ? Open the position...
Feel free to post a chart if you like it might make it a little easier for me to respond.

Include which levels and some details on the chart.

Good trading,

Masterrmind...........
Master your Mind then Master your Trades
  • #26,029
  • Jan 21, 2015 8:20am Jan 21, 2015 8:20am
Quoting numberman
{quote} Use H1 time frame, you will see a huge down trend. Numberman {image}
In this system we evaluate trend by using H1 and D1 candle.
  • #26,030
  • Jan 21, 2015 8:32am Jan 21, 2015 8:32am
H1 method

EJ S TP
Attached Image (click to enlarge)
Click to Enlarge Name: EJ 2.png Size: 30 KB
  • #26,031
  • Jan 21, 2015 8:44am Jan 21, 2015 8:44am
[quote=Udine;7511888]once you have entered a trade , do you leave it running until either the SL or TP is hit. ? how many trades within the 1 hr candle are you allowed to take at 00 levels ? I leave it running until SL or TP (or being taken out by Trailstop)



can you share when you use TP, when you use Trailstop? Thanks a lot！
  • #26,032
  • Jan 21, 2015 9:16am Jan 21, 2015 9:16am
Quoting yelena
Exit strat: M15 close, total: -4, 1 trade. No other trades taken because the ASH was always opposite of H1 D1. Will trade NY for first 3 hours. Not yet EOB. {image}
Exit strat: M15 close, total: -4, second red day.

19 days left to observe

Notes:
GY below RgL, EY H1 D1 not aligned with ASH.
GU EU on hold with USD red news til end of first hour.
GU H1 D1 not aligning with ASH, by the time it did its on 0.10, no shorts allowed.
***EU 15:45 signal candle, no long because RmUp is red even though it has not hit RgH yet (see image encircled in red)***
EY 16:30 ASH was green while H1 D1 was red. Ohhh... Red news, QE ECB (originally on "tentative")

No valid entries in NY.

Stay black!



EOB
Attached Image (click to enlarge)
Click to Enlarge Name: 012115.png Size: 113 KB
  • #26,033
  • Jan 21, 2015 9:47am Jan 21, 2015 9:47am
Quoting Udine
once you have entered a trade , do you leave it running until either the SL or TP is hit. ? how many trades within the 1 hr candle are you allowed to take at 00 levels ? I leave it running until SL or TP (or being taken out by Trailstop) can you share when you use TP, when you use Trailstop? Thanks a lot！
Youngmmi,

Each trade is a pending order at the start of a new h1 candle (assuming all other rules are met). If the trade is triggered the system has three possible outcomes:

1)Price moves in your direction for 5 pips, and therefore TP is reached (this is what we want)
2)Prices moves against you for 10 pips, and therefore SL is reached (this is what we don't want)(burpees)
3)Price begins to move in your favor for 3-4pips(depends on your settings), but then reverses against you. In this case, to avoid a trade that was almost a winner into becoming a loser, this system uses a Wheelbarrel trailing EA which closes the trade at breakeven(depends on your commissions). This EA is to assist in capital preservation. Occasionally, even when all the rules are followed and everything looks good for a trade, the market only moves a few pips, less than five, and then reverses. This is the TS.

The above is of course only the tip of the iceberg. My advice to you is that you make sure to understand and use the WUKAR EA and Trailstop EA before you begin to demo. I have come to learn that the Wheelbarrel EA is really a very important part of this system, even more so when you are a newbie. There are a few different versions of the WUKAR and Wheelbarrow EA available in the paperclip, but more importantly there is a lot of discussion regarding their settings in this thread. Use the search and then go to the last page of the results so you can read all the replies in chronological order. It's all very clear. Hope this helps.

Stay green
N.
  • #26,034
  • Jan 21, 2015 10:07am Jan 21, 2015 10:07am
Great days work!

Good luck everyone....

Need my rest.......

See some of you in the Asian session tomorrow...if not then London....

Masterrmind..........
Master your Mind then Master your Trades
  • #26,035
  • Edited 10:23am Jan 21, 2015 10:07am | Edited 10:23am
[H1] EJ to SL

How stupid i am.... I think 400 lv now turn in to SP, and the previous candle look like an inverted hammer.

Numberman
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM15.png Size: 61 KB
  • #26,036
  • Jan 21, 2015 10:10am Jan 21, 2015 10:10am
Quoting Masterrmind
Trade #3 [Bonus trade #1] EURJPY +5 TP {image} Masterrmind...........

MM -- It goes without saying that you are master of more than the mind . . .

In watching your thoughtful work I note you have a significant number of pairs up on Psy Levels to see the dual time frame match. Beyond this, though, I was curious about the number of pairs you would have for more active tracking on your screen(s) at one time?

Of course, you are far advanced in analysis beyond most Udine 00 level readers, and certainly me, but I find my span of control could not cover more than three truly comfortably at one time. Perhaps with the detail of your analysis -- where we would all hope to go -- I think I could not do justice to more than two pairs at once.

I suppose I am wondering what is an appropriate and realistic goal.

With appreciation for your wisdom and willingness to share,

FS
  • #26,037
  • Jan 21, 2015 10:11am Jan 21, 2015 10:11am
Huge lost today.....

Numberman
Attached Image
  • #26,038
  • Jan 21, 2015 10:43am Jan 21, 2015 10:43am
Trade #1, NY Session , H1 Method
AUDUSD TP +5

Hit TP, but not the lowest risk entry because (more PDF training needed):
1- RmDn was only 5pips at time of entry
2-Very volatile market, USD was very strong against AUD & CAD, i might have missed some news which is against the rules.

Will be back for Tokyo hopefully . . . One more trade and daily target would be reached.

One question, after dragging my trade onto the chart in order to visualize it i notice that the arrows and dotted lines are hidden behind candle. I have clicked and clicked and played with object list but cannot manage to get arrows/line above candle. Any insight appreciated.

Happy pips
Nik
http://s3.postimg.org/sfwytf4xf/Scre...1_16_22_AM.png
  • #26,039
  • Jan 21, 2015 10:45am Jan 21, 2015 10:45am
Numberman, excuse me if I would do but you overtrade. I say this because myself, as many here, did the same thing when I began to use Udine's method.
Since I select my setup with the utmost care losses are much diminished (my reference although I'm still very far away is Mastermind).

Best regards,
Bubincka
Porta itineris dicitur longissima esse
  • #26,040
  • Jan 21, 2015 10:54am Jan 21, 2015 10:54am
Quoting bubincka
Numberman, excuse me if I would do but you overtrade. I say this because myself, as many here, did the same thing when I began to use Udine's method. Since I select my setup with the utmost care losses are much diminished (my reference although I'm still very far away is Mastermind). Best regards, Bubincka
Okay, tomorrow, i am going to be really careful. Im tired of SL.

Numberman
17 traders viewing now