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As simple as possible: 00 level trading

  • #28,021
  • Mar 18, 2015 5:48am Mar 18, 2015 5:48am
Quoting Shimmy
{quote} Adam entry was @65, so no Pivots btwn 65 & 70. Shimmy
Thanks Shimmy. If DP level was between the entry and tp level, I would not even have considered to take the trade. In this case, DP was just between the candle close and the entry level. It made me hesitating and finally not taking the trade. Just curious whether I was too careful...
  • #28,022
  • Mar 18, 2015 5:54am Mar 18, 2015 5:54am
Quoting Adam84
{quote} Thanks Shimmy. If DP level was between the entry and tp level, I would not even have considered to take the trade. In this case, DP was just between the candle close and the entry level. It made me hesitating and finally not taking the trade. Just curious whether I was too careful...
Adam, I think you did the right thing. If I am ever uncomfortable about a trade for any reason, I don't take it. There are plenty more trades where that one came from.
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #28,023
  • Mar 18, 2015 5:58am Mar 18, 2015 5:58am
Quoting Adam84
{quote} Hi Udine, I was also considering to trade EJ (level 1 trade). I did not take it because the daily pivot level was between the close of the candle and the trigger point. Just wondering - for guidance purposes of course - whether you considered this as well and if yes, what (still) made you take the trade. Regards, Adam84

Adam,

I do consider it, but between my entry level and TP level, was nothing, so all clear..

Dont worry, better safe than sorry..


Udine
Sleep less, live fast, as it aint gonna last
  • #28,024
  • Mar 18, 2015 6:05am Mar 18, 2015 6:05am
Quoting Udine
{quote} Adam, I do consider it, but between my entry level and TP level, was nothing, so all clear.. Dont worry, better safe than sorry.. Udine
Thank you Udine and Diallist, still building confidence with this system so I appreciate your input!
  • #28,025
  • Mar 18, 2015 6:28am Mar 18, 2015 6:28am
Hello guys,

I'm sorry for the stupid question, but I want to know if I got one of the entry rules right.

Let's say the price is above the market open and we have a new H1 candle starting right now. If the H1 candle is Bullish I should put a pending order at the first 00 level above the H1 open and trade only this one during that hour. And the opposite for in case of a building opportunity for a short trade.

I will appreciate your input! Thank in advance!
  • #28,026
  • Mar 18, 2015 6:46am Mar 18, 2015 6:46am
Quoting xTraderx
Hello guys, I'm sorry for the stupid question, but I want to know if I got one of the entry rules right. Let's say the price is above the market open and we have a new H1 candle starting right now. If the H1 candle is Bullish I should put a pending order at the first 00 level above the H1 open and trade only this one during that hour. And the opposite for in case of a building opportunity for a short trade. I will appreciate your input! Thank in advance!

Did you ever check page 1, post 1 ??

If so, you know the answer..

cheers

udine
Sleep less, live fast, as it aint gonna last
  • #28,027
  • Mar 18, 2015 6:50am Mar 18, 2015 6:50am
Quoting Udine
{quote} Did you ever check page 1, post 1 ?? If so, you know the answer.. cheers udine
Hello Udine,

I did and I think I got it right, but just wanted to confirm So far if I follow what I have written above the results are amazing As soon as I try to slack off a little bit and play on the upper/lower levels things are becoming a lottery

Thanks for the great system! This is the best scalping system I have seen so far!
  • #28,028
  • Mar 18, 2015 6:55am Mar 18, 2015 6:55am
Hi Udine, just to be clear about red new's; in my chart, at 12h30 GMT we a long candle ( red new!!!! and apply the rules...) if I wan to take a trade I need to waiting until the 2 candles next ( not 13h00 but i can to input at 13h30...)

but after a long candle we need to be patient and I know is more risky. the sell input will be at 177.80 with a traget of 5 pips.
in this time, I am agree to Robinho to put a stoploss about 20 pips....

I am waiting for constructive comments

P.S. until I have an average of 3.5-4.5/day

thank a lot , you are a life proof of PDF...haha

liberty55
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  • #28,029
  • Mar 18, 2015 7:07am Mar 18, 2015 7:07am
Quoting liberty55
Hi Udine, just to be clear about red new's; in my chart, at 12h30 GMT we a long candle ( red new!!!! and apply the rules...) if I wan to take a trade I need to waiting until the 2 candles next ( not 13h00 but i can to input at 13h30...) but after a long candle we need to be patient and I know is more risky. the sell input will be at 177.80 with a traget of 5 pips. in this time, I am agree to Robinho to put a stoploss about 20 pips.... I am waiting for constructive comments P.S. until I have an average of 3.5-4.5/day thank a lot , you are a life...
Look at rhtraderīs comment regarding this a couple of pages ago.

Why on earth would you place a pending 1 or 2 candles after a candle more than twice, triple, quadruple the ATR480 value ?
Itīs not exactly putting the odds in your favour...

Just my 2 cents though.

LuXing
Wisdom begins in wonder
  • #28,030
  • Mar 18, 2015 7:07am Mar 18, 2015 7:07am
Does anyone else have a pending on EJ at 128.40?

Dobbsie
  • #28,031
  • Mar 18, 2015 7:12am Mar 18, 2015 7:12am
Hi LuXing, thank you for your answer... I know what you said my question is just to know it was a good entry if i respect the rules but this was sure very risky and I am realty not sure to take this one

have a nice day
  • #28,032
  • Mar 18, 2015 7:14am Mar 18, 2015 7:14am
Quoting Dobbsie
Does anyone else have a pending on EJ at 128.40? Dobbsie
I do, see post #27.994
See if it triggers though.

Luxing
Wisdom begins in wonder
  • #28,033
  • Mar 18, 2015 7:16am Mar 18, 2015 7:16am
Quoting liberty55
Hi LuXing, thank you for your answer... I know what you said my question is just to know it was a good entry if i respect the rules but this was sure very risky and I am realty not sure to take this one have a nice day
Itīs "a good entry" if itīs profitable

Shhhhhh, donīt tell anybody. Demo sniper mode.

LuXing
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Wisdom begins in wonder
  • #28,034
  • Mar 18, 2015 7:27am Mar 18, 2015 7:27am
Quoting LuXing
{quote} I do, see post #27.994 See if it triggers though. Luxing
Quoting Dobbsie
Does anyone else have a pending on EJ at 128.40? Dobbsie

Even 128.40 being a kind of support tested some times? woudn't it be safer to enter in the next 50 level lower?
just curious of your approach
thanks
  • #28,035
  • Mar 18, 2015 7:29am Mar 18, 2015 7:29am
Quoting liberty55
Hi Udine, just to be clear about red new's; in my chart, at 12h30 GMT we a long candle ( red new!!!! and apply the rules...) if I wan to take a trade I need to waiting until the 2 candles next ( not 13h00 but i can to input at 13h30...) but after a long candle we need to be patient and I know is more risky. the sell input will be at 177.80 with a traget of 5 pips. in this time, I am agree to Robinho to put a stoploss about 20 pips.... I am waiting for constructive comments P.S. until I have an average of 3.5-4.5/day thank a lot , you are a life...

After a long candle like that I wont be looking at it until there has been a big retrace first..

Udine
Sleep less, live fast, as it aint gonna last
  • #28,036
  • Mar 18, 2015 7:40am Mar 18, 2015 7:40am
thank udine,
may be my exemple was not good... it is no sense to input after a long candle...too risky... and it is always after if you know that the trade was good or not...

thank for your patience
  • #28,037
  • Mar 18, 2015 7:51am Mar 18, 2015 7:51am
Quoting LuXing
{quote} I do, see post #27.994 See if it triggers though. Luxing
Of course I delete my pending order about three minutes before execution and TP!

I hope you kept the order open!

Dobbsie
  • #28,038
  • Mar 18, 2015 8:13am Mar 18, 2015 8:13am
NZDJPY to TP.

Took an eternity to get there.

LuXing
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Wisdom begins in wonder
  • #28,039
  • Mar 18, 2015 8:14am Mar 18, 2015 8:14am
Quoting Dobbsie
{quote} Of course I delete my pending order about three minutes before execution and TP! I hope you kept the order open! Dobbsie
It happens Dobbsie, thereīll be more.
I deleted my pending too (after the next candle closed).

LuXing
Wisdom begins in wonder
  • #28,040
  • Mar 18, 2015 8:26am Mar 18, 2015 8:26am
EJ to SL, burpees for me.

I set the pending order 30 seconds before candle close, it got triggered and went the wrong way.

LuXing
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