As simple as possible: 00 level trading

I'm continuing my testing using the 15m candle close(used by Yelena).
I'm trading only FF and LO.
Today a total of -2p. I'm not using a script, trades are closed manually so u might observe some delay in closing my trades.
Missed the EJ long 15 m before LO from .400 level which cold have brought me a 10p but the move was very fast and couldn't set my PO

Nice Tantor. Would be good you keep till 134.00 Check the fibs.... (gartley)

Im my opinion your getting into some risky trades.
GJ for exemple... you can clearly see some resistance level there and you should also keep in mind that at London open, price many times changes direction from FF.
Actually you can see the change in direction in your chart pic.

Asmodai

Yelena said that with this method he doesn't care about supp or resist. Is just mechanical trading, u don't need to over analyze your charts. Is what I actually love about this method

GJ to TP+ (24 pips may closed too early but iam happy
EJ open position

Greetz Michael

Ah, ok. It will be interesting to see the results.

Asmodai

GU to TP (H1)

Greetz Michael

One hour after LO and my last trades for today brought me 12p, ending the day with a total of 10p. Slow day but I'll continue testing it

EJ to TP+ (10pips)

Greetz Michael

PS: May we see the gartley from snail

EDIT: EJ again to TP+ (25pip) Thank you Snail 134.00 here we are

EU +16.2
TP setting was 10, but slippage was big. lol

Here it is. :nerd:

And you are welcome ...

Hi gigicualex, thanks for posting your results. I am also further assessing the Yelena method and trade it manually on a demo account; it is indeed very hard to open all the trades at the right moment and at the right levels all times. For closing I use a simple ea, which can close open trades at a preset time. This ea is attached. I found this somewhere on FF so no credits for me.

There are no instructions for this ea but the setting are quite straight forward. I noticed that it is wise to set "UseCurrSymbol" at true, so the ea only closes the trade(s) on the chart it is attached to (not the trades which still have to be triggered). This means that you have to run it on all the charts you are trading. Since the yelena method does not require the WUKAR ea or any other ea this should not be a problem.
If you set "UseCurrSymbol" to false it will close all open trades on all charts (not the trades which still have to be triggered) at the preset time. In theory this should work and I tried it on my account. If a trade is triggered at the very beginning of a new candle, this trade can also be closed by the ea, so therefore I choose to attach the ea to each separate chart. It is also wise to set a high slippage number, since the trade should be closed anyway (no matter the slippage).

I think this ea is not ideal, but it makes it at least a little easier to close the trades at the close of the candle. If someone has a better script/ea (also with regard to opening trades on the basis of the "yelena method") I would be willing to test it (I am not a coder at all, so cannot do it myself but am of course willing to assist in developing it further).

With regard to your test, I noticed that you also trade the CADJPY pair. Why do you trade this pair and which other pairs do you use. How are the results with the method?

Yelena indicated that she followed the rules of post 1. I am not completely sure whether she did that in the most strict way. The ASH indicator for example is not part of the rules in post 1 but she used it (for obvious reasons of course). Also, post 1 does only allow trades at the Frankfurt session at the .400/.500/.600 levels but the pictures from Yelena show that also other levels at the FF session were taken. She also changed her exit strategy during the test from "close of the candle that triggered the trade" to "close of the candle that either hit -10 or +5". I am curious to know which rules you use for your test?

I (try to) use her latest rules so:
- trading from FF open to end of 2nd hour London (if less than 2% is reached, I also trade the first two hours of the NY session);
- trading all levels but no longs at .900 level and no shorts at .100 level;
- wait for a valid signal on the ASH indicator;
- exit the trade at the close of the candle that either hit the -10 or +5

Still, her method is not completely clear to me. I refer to the below pic of her EJ trade on last 28 January. She entered on the second candle (which she did more often after the candle that crossed the DO line would have given a valid signal).Based on the rules on page 1, waiting for the second candle is not required. I understand why she did it, but wonder which exact rule she followed here. I have not asked her since she indicated that she will not response to questions and I would like to find my own set of rules. Nevertheless I wonder how you deal with this.

Hi Snail, do you mean something like this :
I'm just beginning to study harmonic, I can't recognize them yet.

Hi Tantor dou you mean you use hard SL/TP and drag them on the chart as px goes on your favor or you change settings int the EA ?

EJ to SL (H1 from .300)

Greetz Michael

EJ to TP [H1]
Comment: then they become 40 pips and later many more, but again that's the strategy.

Yes, you are getting there.

Google for: Scott Carney - The Harmonic Trader.

Hi Snail thank you, found Scott M. Carney book. I'll read it, it really makes a difference to take advantage of these formations when they appear.

Will also read it, thank you snail!

Hello Adam84,
you can consider 134.000 in the way, so I do not open trade agains round number, but after candle close lower than RN. Thats my opinion.