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As simple as possible: 00 level trading

  • #26,501
  • Feb 5, 2015 7:50am Feb 5, 2015 7:50am
Quoting Adam84
{quote} 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 trade only...
Hi Adam,

Thanks for those scripts, I'll give them a try to see how they work but sadly I won't be able to run in on the live account as I have other stuff running there and I won't like to close also the trade not related to this strategy.
Regarding the CADJPY pair I cannot provide u some statistics of performance as I just started trading it. I'm planing to replace GBPJPY with it as the spread on CadJpy it's almost half.
Regarding the last question, I'm just following Udine's H1 rules from post 1 and using ASH for extra confirmation (entering long when previous ASH bar was green). I've also noticed that Yelena sometimes wasn't following FF rules(trading outside .400-.600) but that was her choice.
  • #26,502
  • Feb 5, 2015 7:50am Feb 5, 2015 7:50am
GBPJPY +43

Looking for the next opportunity at the top of the hour!
Attached Image (click to enlarge)
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  • #26,503
  • Feb 5, 2015 8:12am Feb 5, 2015 8:12am
Quoting r4maaak
{quote} 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.
Yes exactly. Shorting into RN is not a good idea, although there is no rule on post 1 specifying this fact.
  • #26,504
  • Feb 5, 2015 8:13am Feb 5, 2015 8:13am
Quoting bubincka
{quote} 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.
Provided you can manage to sit and do nothing.... :nerd: ( it is not that easy )
  • #26,505
  • Feb 5, 2015 8:52am Feb 5, 2015 8:52am
cadjpy +5 tp
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  • #26,506
  • Feb 5, 2015 9:03am Feb 5, 2015 9:03am
Quoting gigicualex
{quote} Hi Adam, Thanks for those scripts, I'll give them a try to see how they work but sadly I won't be able to run in on the live account as I have other stuff running there and I won't like to close also the trade not related to this strategy. Regarding the CADJPY pair I cannot provide u some statistics of performance as I just started trading it. I'm planing to replace GBPJPY with it as the spread on CadJpy it's almost half. Regarding the last question, I'm just following Udine's H1 rules from post 1 and using ASH for extra confirmation (entering...
Thank you gigicualex. Three more questions. If it comes to spread, would U/J not be a better option then? Do you close at the candle that triggered the trade or the candle that either hit the -10 or the +5? Am I correct that you do not take trades from the 00-level? These last 2 questions are relevant if we ever want to compare our results...
  • #26,507
  • Feb 5, 2015 12:16pm Feb 5, 2015 12:16pm
EURJPY +22
Should have stayed in longer! It's up almost 45 more pips since my exit!
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYH1.png Size: 78 KB
  • #26,508
  • Feb 5, 2015 7:14pm Feb 5, 2015 7:14pm
Trade #1 H1 Method EURJPY TP +5pips

http://s9.postimg.org/fwtby2ge7/Scre...8_11_02_PM.png
  • #26,509
  • Feb 6, 2015 12:57am Feb 6, 2015 12:57am
Good morning all lets see what the eurjpy bring today, i took 10 pips last night from the tokyo open, it has moved 59 pips to the down side, maybe a pullback and continuation of the down trend or a reversal lets wait for the london open
FREEDOM IS NOT FREE
  • #26,510
  • Feb 6, 2015 1:17am Feb 6, 2015 1:17am
Quoting Adam84
{quote} Thank you gigicualex. Three more questions. If it comes to spread, would U/J not be a better option then? Do you close at the candle that triggered the trade or the candle that either hit the -10 or the +5? Am I correct that you do not take trades from the 00-level? These last 2 questions are relevant if we ever want to compare our results...
Hi Adam,

1)Don't like UJ had bad results in the past with it while using H1 method
2)I close at the candle that triggered the trade(sometimes on my charts the closure appears on the next candle, but this is due the fact I'm manually closing them and I#m not quick enough)
3)I'm working only with 00 levels but sometimes my broker slips my orders especially on GJ (that's why i try to avoid this pair)
**The test is run on a live account but using microlots. IMO this is the only way to get relevant results as test(demo) environment doesn't behave the same
  • #26,511
  • Feb 6, 2015 2:22am Feb 6, 2015 2:22am
Good morning everyone.

Trade #1 GJ 1h method, end of bar exit...... -10

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM15.png Size: 44 KB


Asmodai
  • #26,512
  • Feb 6, 2015 2:37am Feb 6, 2015 2:37am
Quoting Asmodai
Good morning everyone. Trade #1 GJ 1h method, end of bar exit...... -10 {image} Asmodai
Asmodai, if you had exited at the candle close, would your loss not have been less than -10?
  • #26,513
  • Feb 6, 2015 2:40am Feb 6, 2015 2:40am
I have read that professional trader don't trade on fridays, its looks that friday the market just goes side ways, at least that the case of eurjpy, crazy today
FREEDOM IS NOT FREE
  • #26,514
  • Feb 6, 2015 2:42am Feb 6, 2015 2:42am
Quoting tantor1973
I have read that professional trader don't trade on fridays, its looks that friday the market just goes side ways, at least that the case of eurjpy, crazy today
Its NFP day
  • #26,515
  • Feb 6, 2015 2:43am Feb 6, 2015 2:43am
Quoting Adam84
{quote} Asmodai, if you had exited at the candle close, would your loss not have been less than -10?
Adam,

So far for today my results suck. Will take few more trade at the begining of next hour and then I'll post my results
  • #26,516
  • Feb 6, 2015 2:45am Feb 6, 2015 2:45am
Quoting Adam84
{quote} Asmodai, if you had exited at the candle close, would your loss not have been less than -10?
That is true, but if price had shot up i could lose alot more, i always use a SL. Right now its set at 10 pips based on Udine's rules.

Asmodai
  • #26,517
  • Feb 6, 2015 2:47am Feb 6, 2015 2:47am
Quoting piphunt3r
{quote} its nfp day
yep that nfp, it effects all pairs
FREEDOM IS NOT FREE
  • #26,518
  • Feb 6, 2015 2:51am Feb 6, 2015 2:51am
New rule for me no trading on nfp fridays
FREEDOM IS NOT FREE
  • #26,519
  • Feb 6, 2015 2:57am Feb 6, 2015 2:57am
Quoting gigicualex
{quote} Adam, So far for today my results suck. Will take few more trade at the begining of next hour and then I'll post my results
I do not trade today because of NFP. In general, results have not been brilliant for me this month, but this may change... We'll see!

Quoting Asmodai
{quote} That is true, but if price had shot up i could lose alot more, i always use a SL. Right now its set at 10 pips based on Udine's rules. Asmodai
Hi Asmodai, I understand why you do that, but in the previous post you described your method as "end of bar exit".. If you indeed had exited at the end of the candle than you would not have had -10
  • #26,520
  • Feb 6, 2015 3:02am Feb 6, 2015 3:02am
Quoting tantor1973
I have read that professional trader don't trade on fridays, its looks that friday the market just goes side ways, at least that the case of eurjpy, crazy today
Tantor, suggest to have next to EJ opened EU chart and observe. Gives a clue...
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