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As simple as possible: 00 level trading

  • #27,341
  • Mar 11, 2015 7:11am Mar 11, 2015 7:11am
Quoting Vlad13685
{quote}


Numberman
  • #27,342
  • Mar 11, 2015 7:15am Mar 11, 2015 7:15am
Quoting Udine
Done for the day.. again GJ to TP.. Udine {image}
Can anyone help me with my settings? Udine's GBPJPY chart is different than mine. Please see the vertical yellow lines. Where his M-Candles and ASH indicators at the bottom are all green, mine are not and I even used his template supplied a little earlier today. It obviously kept me out of trades.
Any help would be appreciated. Thanks in advance!

Dobbsie
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM30.png Size: 57 KB
  • #27,343
  • Mar 11, 2015 7:27am Mar 11, 2015 7:27am
Quoting Dobbsie
{quote} Can anyone help me with my settings? Udine's GBPJPY chart is different than mine. Please see the vertical yellow lines. Where his M-Candles and ASH indicators at the bottom are all green, mine are not and I even used his template supplied a little earlier today. It obviously kept me out of trades. Any help would be appreciated. Thanks in advance! Dobbsie {image}

Dobbsie,

your chart is correct..

the M Candles is red now, because NOW its below the daily open

at the time it was above the daily open and the MCandles was green

Udine
Sleep less, live fast, as it aint gonna last
  • #27,344
  • Mar 11, 2015 7:37am Mar 11, 2015 7:37am
Quoting Udine
{quote} Dobbsie, your chart is correct.. the M Candles is red now, because NOW its below the daily open at the time it was above the daily open and the MCandles was green Udine
Wow...thanks! That was a rookie question! I appreciate your answer.
Another question and let's hope not as rookie but it sure could be! At the 15:00 hour, your ASH was green while my was red. Why the difference?

Thanks again!

Dobbsie
  • #27,345
  • Edited 7:42am Mar 11, 2015 7:38am | Edited 7:42am
Quoting diallist
{quote} Hi Robinho, I like your chart layout! I see you are using the main window Mcandle for daily direction and the lower window McandleSW for hourly. Very clear and easy to see. Also nicely done on limiting the Forex meter to Udines four currencies. Well done sir!

Yes, Robinho nice chart set up, how are you limiting the forex meter to four currencies?

PGPB
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot (65).png Size: 152 KB
  • #27,346
  • Mar 11, 2015 7:39am Mar 11, 2015 7:39am
Udine and all other member, thanks very much, I have been learning a lot with you. Really thanks!

Please, how do I know the exactly moment I set the depenting orders? When D1 and H1 is the same color and ADR was not reach, just it?

Please can anyone share tpl?
  • #27,347
  • Mar 11, 2015 7:56am Mar 11, 2015 7:56am
Quoting pgpb
{quote} Yes, Robinho nice chart set up, how are you limiting the forex meter to four currencies? PGPB {image}
A lot of work by forex supreme meter decrease peers.
leaving ready
Attached File(s)
File Type: ex4 ForexMeter.ex4   98 KB | 559 downloads
  • #27,348
  • Mar 11, 2015 7:58am Mar 11, 2015 7:58am
Quoting Dobbsie
{quote} Wow...thanks! That was a rookie question! I appreciate your answer. Another question and let's hope not as rookie but it sure could be! At the 15:00 hour, your ASH was green while my was red. Why the difference? Thanks again! Dobbsie

you have it set to the 30M timeframe???

if so, no idea..

Udine
Sleep less, live fast, as it aint gonna last
  • #27,349
  • Mar 11, 2015 7:59am Mar 11, 2015 7:59am
Quoting wernerfukuma
Udine and all other member, thanks very much, I have been learning a lot with you. Really thanks! Please, how do I know the exactly moment I set the depenting orders? When D1 and H1 is the same color and ADR was not reach, just it? Please can anyone share tpl?

post 27.319

Udine
Sleep less, live fast, as it aint gonna last
  • #27,350
  • Mar 11, 2015 8:11am Mar 11, 2015 8:11am
Quoting Udine
{quote} My risk is always 2 % and reward 1% SL = 10 pips & TP = 5 pips Udine
I looked at the image of another user
  • #27,351
  • Mar 11, 2015 11:21am Mar 11, 2015 11:21am
Quoting diallist
{quote} Yes. You only took trades after a close of the 30 minute candle on which the color of the ASH or the hourly Mcandle changed. Also, upon such change, the ASH and the hourly Mcandle were in the same direction. One thing you did not do was enter on the first 00 crossing after the opening of a new hour. This makes sense as this rule cannot coexist with entering on color change. Dial

Diallist, excuse my ignorance but are you saying that a necessary condition is to first have a ASH or M-candle going the opposite direction, and then have both turn back to the same color as the daily trend (in other words a pullback), or have I misunderstood your explanation?

thanks in advance for your patience.

PGPB
  • #27,352
  • Mar 11, 2015 11:28am Mar 11, 2015 11:28am
Hi Udine

Thank you very much for your posts. I have been catching up and digesting those today..very much appreciated. Your trading is certainly excellent.

I was just looking at all your charts, and I noticed as far as I could tell you did take some 'continuation trades on the 9th March' at the beginning and during of the hours'. I have loaded the GU and GJ charts as examples with them circled and arrowed (tough there were others in EU/EJ). I appreciate there was a strong trend, but also they were 'new' H1 M-candle high's-was this the reason for taking these trades? Thank you once again for a great thread.

Attached Image (click to enlarge)
Click to Enlarge Name: GJ Udine 9 Mar.jpg Size: 191 KB

Attachment
Attached Image (click to enlarge)
Click to Enlarge Name: GU 9 Mar Udine.jpg Size: 142 KB


Shimmy
  • #27,353
  • Mar 11, 2015 11:35am Mar 11, 2015 11:35am
Quoting dforant1
*God Almighty Josey* this may never stop! Where's those rules of mine? {image}
Hi Dforant

Yes poor trading only 75 pips lol do better next time

Great trading nice one.

Shimmy
  • #27,354
  • Mar 11, 2015 12:10pm Mar 11, 2015 12:10pm
Quoting pgpb
{quote} Diallist, excuse my ignorance but are you saying that a necessary condition is to first have a ASH or M-candle going the opposite direction, and then have both turn back to the same color as the daily trend (in other words a pullback), or have I misunderstood your explanation? thanks in advance for your patience. PGPB
Yes, but to be evaluated on the close, then placing the pending on next 30 minute candle. You actually said it better than I did.

BTW, have you read my last response to you? I was hoping to hear back whether you agreed or not with my explanation.

Dial
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #27,355
  • Mar 11, 2015 12:43pm Mar 11, 2015 12:43pm
This third day i decided to try with 2% risk and 1:100, after many trades i had difficulty reaching the 10%, o will need many hours a day, while 5% (10 with a doubled risk) is as its usually very easy, these are the ideal targets for scalping
5% risk = + 10%
2% risk = + 5%
1% risk = + 2%
I also noticed that doing operations by 05 levels was more accurate with more possibilities and a small improvement in the ratio tp / sl.
For example here i have an awesome profit when i decide to add this modification
Attached Image (click to enlarge)
Click to Enlarge Name: 05lvls.PNG Size: 8 KB

I arrived fast with a few trades to 5%, then to 9% to drop to 4%, 7% and i decided to stop at 5% because missing a few hours at the close of the day
In conclusion i will continue in this way, and i wanto to try on M30 (1/2 H x 1 trade) with05 only looking on good revenue trends, statistics once again are telling me that im in the right way, i will continue to rape this system
Attached Image
  • #27,356
  • Mar 11, 2015 12:49pm Mar 11, 2015 12:49pm
[quote=diallist;8121236]{quote} As long as the AWR is greater than the BEWR chosen by the trader, the method will be profitable over the long term.


Hi Diallist

thanks for the full and complete explanation on this topic, this was actually exactly what I was looking for, interesting that the acronym BEWR brings to mind the word "Beware".
I have quoted the words that made it clear to me.

The thing that I learned is that my way, is not the only way. I had it in my head that changing the stop loss was suicide but you showed me how it can work.
For me, I am going to stick to a RR of 2 to 1, I see how a larger stop can work, but it means that you have to be more accurate (having a BEWR of 77.281%)

I really encourage you to continue posting, your contribution is very helpful.

PGPB
  • #27,357
  • Mar 11, 2015 1:00pm Mar 11, 2015 1:00pm
Quoting Shimmy
Hi Udine Thank you very much for your posts. I have been catching up and digesting those today..very much appreciated. Your trading is certainly excellent. I was just looking at all your charts, and I noticed as far as I could tell you did take some 'continuation trades on the 9th March' at the beginning and during of the hours'. I have loaded the GU and GJ charts as examples with them circled and arrowed (tough there were others in EU/EJ). I appreciate there was a strong trend, but also they were 'new' H1 M-candle high's-was this the reason for...
there are plenty opportunities during the day, but it also depends if there is red news, if pairs are in in a trend, in sync, etc etc..

focus for starters on the colorchanges... those are the basics and will give you 2% a day...and that is all you need..

Udine
Sleep less, live fast, as it aint gonna last
  • #27,358
  • Mar 11, 2015 1:02pm Mar 11, 2015 1:02pm
Quoting RoneyFX
This third day i decided to try with 2% risk and 1:100, after many trades i had difficulty reaching the 10%, o will need many hours a day, while 5% (10 with a doubled risk) is as its usually very easy, these are the ideal targets for scalping 5% risk = + 10% 2% risk = + 5% 1% risk = + 2% I also noticed that doing operations by 05 levels was more accurate with more possibilities and a small improvement in the ratio tp / sl. For example here i have an awesome profit when i decide to add this modification {image} I arrived fast with a few trades to...

have you any idea how fast an account grows with 5% daily???

Udine
Sleep less, live fast, as it aint gonna last
  • #27,359
  • Mar 11, 2015 1:24pm Mar 11, 2015 1:24pm
Quoting Udine
{quote} have you any idea how fast an account grows with 5% daily??? Udine
is exactly what i have in mind, plus non farm payrolls usa+cad and follow the monthly candle of Robinho one time per moth
im young(probably the youngest of this community) and i want to remain free without financial problems because i know that there is an abundance of money in the world that is just waiting to be taken
  • #27,360
  • Edited 1:48pm Mar 11, 2015 1:34pm | Edited 1:48pm
Quoting RoneyFX
{quote} is exactly what i have in mind, plus non farm payrolls usa+cad and follow the monthly candle of Robinho one time per moth im young(probably the youngest of this community) and i want to remain free without financial problems because i know that there is an abundance of money in the world that is just waiting to be taken
That you are young, there is no doubt. I just hope that, for your sake, you're doing all this on demo.

I've danced the "I arrived fast with a few trades to 5%, then to 9% to drop to 4%, 7% and i decided to stop at 5%" dance many times when I first started out.

It never ended well for me.

I now dance the 2%, 2%, 2%, 2% ... dance. Much nicer and the market doesn't step on my toes as hard anymore.

All the best to you Roney, and may you learn what you need to learn.

Dial
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
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