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As simple as possible: 00 level trading

  • #26,041
  • Jan 21, 2015 11:38am Jan 21, 2015 11:38am
Quoting Nik-Nyc
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...
Hi Nik,

Right click on your chart and select properties... then check this setting? think it might be this...


Vlad
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  • #26,042
  • Jan 21, 2015 11:40am Jan 21, 2015 11:40am
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
Yea I must agree with this... i'm starting to learn the same thing.

I sat most of the day looking for opportunities with low risk, and in the end I only took 1 trade. It was a TP and thats good enough for me today.

Vlad
  • #26,043
  • Jan 21, 2015 11:50am Jan 21, 2015 11:50am
Quoting Vlad13685
{quote} Hi Nik, Right click on your chart and select properties... then check this setting? think it might be this... Vlad {image}
Vlad, worked like a charm, thanks.
  • #26,044
  • Jan 21, 2015 12:01pm Jan 21, 2015 12:01pm
Quoting Vlad13685
{quote} Yea I must agree with this... i'm starting to learn the same thing. I sat most of the day looking for opportunities with low risk, and in the end I only took 1 trade. It was a TP and thats good enough for me today. Vlad
Was? Your today entry?... thanks..
  • #26,045
  • Jan 21, 2015 12:10pm Jan 21, 2015 12:10pm
Quoting fakeylover
{quote} Was? Your today entry?... thanks..
Hour before Franky Open
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  • #26,046
  • Jan 21, 2015 5:30pm Jan 21, 2015 5:30pm
Quoting Forest-Sea
{quote} 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...
Thank you for the kind words.......

I believe almost anyone is capable of trading the way I do but that doesn't mean it suits everyone. It may not!

Chart analysis and plenty of it cannot be over-emphasized......... it makes a massive difference in your trading provided you apply it the way it is meant to be applied. Sadly many traders do not!

I have also mentioned before that I use multiple screens to trade most of the time (unless I'm out and about in which case its a laptop or computer etc) and its something that you either like or you don't.
I love chart analysis so I've become quite used to placing 1,2 or 3 currency pair trades at the right time, or I can quickly reject several pairs and move onto others.

For a trader just starting out just focus on 1 pair maybe 2 at the most (depends on how many pairs can be quickly dismissed from being traded for example red news for 1 currency pair so you can quickly go and focus on another pair in the meantime).

In time and with much experience you can adapt to multiple pairs and still trade effectively. I tend to like scanning charts for potential trade setups so my mind and my eyes are very busy when I trade.

Some traders are simply happy to focus on only 2/3 or 4 pairs which is perfectly fine.
You don't need to trade multiple pairs to be successful....absolutely not....... just decide what best suits you and stick to it and get very very good at it.

I know traders personally who trade just 1 currency pair ..... you could say they own that pair because they know it so well!

Its a learning curve I'm afraid so depending on where you are at in terms of your trading then 2 pairs might be more than enough.

Good trading,

Masterrmind..........
Master your Mind then Master your Trades
  • #26,047
  • Jan 21, 2015 5:48pm Jan 21, 2015 5:48pm
Tokyo Open
Trade #1 EURUSD TP +5

Trade #(2) JPYUSD No Trade, but would have been TP. I had a short at 117.90 and TP would have hit but i decided to cancel order before the order triggered (candle marked with number 1). For some reason trade did not feel right even thought my SL was set on the other side of DO which Mastermind did yesterday with success. Would have liked the pips but a lesson is still learned and logged in my journal. Giving myself 5 burped credit :-).

Any and all comments always welcome.

Happy pips
N

http://s11.postimg.org/m78rlqd3n/Scr...6_33_49_PM.png
http://s13.postimg.org/xgczzavtj/Scr...6_43_42_PM.png
  • #26,048
  • Jan 21, 2015 6:17pm Jan 21, 2015 6:17pm
Trade #2 USDCAD TP +5pips

Done for the day . . . not bad for about an hours work . . . now just chart watching :-)

Any comments always welcome.

Happy pips,
Nik
Edit:Typo on currency pair

http://s17.postimg.org/9xry95yqn/Scr...7_12_43_PM.png
  • #26,049
  • Jan 21, 2015 7:41pm Jan 21, 2015 7:41pm
Trade #1

GBPJPY +5 TP

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Comment: Short not possible so went long from the 700 level.

Masterrmind...........
Master your Mind then Master your Trades
  • #26,050
  • Jan 21, 2015 8:18pm Jan 21, 2015 8:18pm
Quoting Masterrmind
Trade #1 GBPJPY +5 TP {image} Comment: Short not possible so went long from the 700 level. Masterrmind...........
hi MrM

So you wait the first candle to close, and it closed above the DO, which mean the DO rejected the first candle, so it would bound from the DO, and then you decided to go long.

Numberman
  • #26,051
  • Jan 21, 2015 9:05pm Jan 21, 2015 9:05pm
#1 EJ to TP +4.7 (duo to high ping)

Numberman
Attached Image
  • #26,052
  • Jan 21, 2015 9:24pm Jan 21, 2015 9:24pm
Quoting numberman
{quote} hi MrM So you wait the first candle to close, and it closed above the DO, which mean the DO rejected the first candle, so it would bound from the DO, and then you decided to go long. Numberman
Yes that's the basic idea looking to see what PA does around the DO and then trade accordingly.

Masterrmind...........
Master your Mind then Master your Trades
  • #26,053
  • Jan 21, 2015 9:42pm Jan 21, 2015 9:42pm
Hi just joined the thread. I have begun to set up my charts with indicators and ea's of this system to begin trial on demo.
As this is a popular thread,
Is someone able to list the latest updated indicators and ea's that need to be downloaded and show an ideal chart set up
and as I have spent many hours already reading the threads and setting up what I believe to be an ideal chart.
Also a quick lesson on how to use the indicators and trade management?
What are the important things to look out for?
Questions - the absolute strength histogram how do I trade this indicator? price on LHS flashes red/yellow or green what does this Mean?
  • #26,054
  • Jan 21, 2015 10:19pm Jan 21, 2015 10:19pm
Also where do get the indicator that shows Day and Hour either red or green as quick reference
that I have seen on some charts?
  • #26,055
  • Jan 21, 2015 10:46pm Jan 21, 2015 10:46pm
https://charts.mql5.com/6/789/gbpaud...fx-pty-ltd.png
  • #26,056
  • Jan 21, 2015 10:48pm Jan 21, 2015 10:48pm
Here is my chart set up thus far?

Anything I need to change or add?
  • #26,057
  • Jan 21, 2015 11:02pm Jan 21, 2015 11:02pm
Quoting doostwoudgro
Here is my chart set up thus far? Anything I need to change or add?
Use the indicators from Udines first post.

Use the other ASH indicator, the one that shows red or green bars. Find it in the paperclip at the top of the thread.

There's a lot to read, and it really won't be of any benefit to you if you don't go through the thread yourself.

Best of luck. It's a solid moneymaker if you're disciplined.
  • #26,058
  • Jan 21, 2015 11:20pm Jan 21, 2015 11:20pm
Quoting pwnstars
{quote} Do you trade automatic?
Mostly full automated trading!

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #26,059
  • Jan 21, 2015 11:29pm Jan 21, 2015 11:29pm
Quoting moretti12
{quote} 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..
The trend is traders friend! The system watches for 28 currencies and depending on market strength compared to absolute currency strength an order will be send.

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #26,060
  • Jan 21, 2015 11:40pm Jan 21, 2015 11:40pm
Hi folks!
I did not read the whole thread, but i am working my way through it.

What i found, after trying this simple method is, that i can not put pending orders in.
My MetaTrader says the price has to be "X" amount of pips away from current market...
What can i do, or how did you solve this?

Thanks in advance
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