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As simple as possible: 00 level trading

  • #28,101
  • Mar 19, 2015 2:51am Mar 19, 2015 2:51am
Quoting Forest-Sea
I know it isn't ideal, but if anyone is regularly trading the Tokyo open time area due to work or life necessity with the 000/050 rules I would appreciate being in contact. I think with the smaller (typically) volatility it seems easier to work with m15, vice m30.
Hope to hear from someone or many of you who check out the earlier trading day. Maybe some of you in A/NZ find this appealing and others up in Asia. Thanks, FS
I personally haven't tried trading this 00 level system during Asian session, I have just followed the rules and trading times as they are set out.

But one way I have learnt in the past is to follow the USD/JPY and EUR/USD (Don't trade these) using the 5min and 15min chart.

If both these pairs are trading up usually means EUR/JPY possible Buy (The EUR is the stronger currency of the 2)
If both these pairs are trading down usually means EUR/JPY possible sell (The JPY is the stronger currency of the 2)
If both these pairs are trading in opposite directions then no trade there is no clear strength.

You could combine this with other rules and see how it works.

It is definitely the better pair to trade during the Asian session in my opinion with decent spread.

I would try this myself but I am working during Asian session as I live in AUS, but am usually home ready for FF and London opens.
  • #28,102
  • Edited 4:58am Mar 19, 2015 2:53am | Edited 4:58am
Quoting firewight
{quote} Glad you got the EU mate, but the price was below my RgL line...
It was on mine too, but I did not see it through my sleepy eyes.

Since I'm too sleepy to trade rationally, I'm going to bed and keeping what I got today.

bye
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #28,103
  • Mar 19, 2015 3:27am Mar 19, 2015 3:27am
Hi everyone,
I've been following this thread since the beginning of the year. I've tried many variations of this method with no constant success (Yelena's, Currency strength meters, dashboards...) except one: the original "as simple as possible" method. From this day on, I'm going to test The Original. Going to post ALL the trades.

Ingredients:
-1 REAL account (since it is a test, as small as possible)
-the original method in its current form (call it 30M)
-every day from 9-12 CET
-EU,EY,GU,GY
-no trade near daily pivots and DO
-no trade after really long candles
-risk: 2% per trade
-goal: at least 2% per day

Anyway, finished for today (2.81%). Any comments and suggestions are more than welcome!
Charts soon.
  • #28,104
  • Mar 19, 2015 3:28am Mar 19, 2015 3:28am
Looks like the trading day is over, berfore I started...

Maybe should go play some golf..

Udine
Sleep less, live fast, as it aint gonna last
  • #28,105
  • Mar 19, 2015 3:34am Mar 19, 2015 3:34am
Quoting Udine
Looks like the trading day is over, berfore I started... Maybe should go play some golf.. Udine
Has been a chaotic week all round...

Maybe things will be a bit calmer tomorrow to end off the week - no major news.

Vlad
  • #28,106
  • Mar 19, 2015 3:37am Mar 19, 2015 3:37am
Yesterday i took no trades, was busy with other stuff.

Today looks like a no trading day again.

There is always tomorrow.

Asmodai
  • #28,107
  • Mar 19, 2015 3:42am Mar 19, 2015 3:42am
Quoting Udine
Looks like the trading day is over, berfore I started... Maybe should go play some golf.. Udine
GJ still in play fellas!
Life is like a snickers, its full of nuts!
  • #28,108
  • Mar 19, 2015 4:33am Mar 19, 2015 4:33am
oodles of news today will make noodles of my trades. So i'm off for rest of the day.
Wishing all green pips.
  • #28,109
  • Mar 19, 2015 5:30am Mar 19, 2015 5:30am
Here are the sceenshots:
Attached Image (click to enlarge)
Click to Enlarge Name: 2015_03_19_Daily_WUKAR.JPG Size: 361 KB
Attached Image
  • #28,110
  • Mar 19, 2015 5:38am Mar 19, 2015 5:38am
GU & GJ back in the zone, perhaps we'll get something at NY open...
Life is like a snickers, its full of nuts!
  • #28,111
  • Mar 19, 2015 6:07am Mar 19, 2015 6:07am
anyone can help me for wheelbarrow EA's setting used in this system? still testing in demo account
  • #28,112
  • Mar 19, 2015 6:15am Mar 19, 2015 6:15am
Quoting pipsuffer
anyone can help me for wheelbarrow EA's setting used in this system? still testing in demo account

here you go

Udine
Attached Image
Sleep less, live fast, as it aint gonna last
  • #28,113
  • Mar 19, 2015 6:17am Mar 19, 2015 6:17am
Quoting PartySheeper
Here are the sceenshots: {image} {image}

EU and EJ no trades, near .100 level and shorting

Udine
Sleep less, live fast, as it aint gonna last
  • #28,114
  • Mar 19, 2015 6:22am Mar 19, 2015 6:22am
Quoting Udine
{quote} here you go Udine {image}
thanks Udine, it really helps.
  • #28,115
  • Mar 19, 2015 6:29am Mar 19, 2015 6:29am
Quoting PartySheeper
Here are the sceenshots: {image} {image}

GU trade not good either
and change the settings of the AbsoluteStrengthHistogram, they are wrong

cheers

Udine
Sleep less, live fast, as it aint gonna last
  • #28,116
  • Mar 19, 2015 6:43am Mar 19, 2015 6:43am
HI Udine how was your coffe this morning??? I have a question about the wheelbarrow EA: if I have a life account with a broker that have 4 digits, what will be the setup..30 0r 3 for the parameters ( breakeven and trailing stop)???

thank


have a nice day
  • #28,117
  • Mar 19, 2015 6:47am Mar 19, 2015 6:47am
Quoting liberty55
HI Udine how was your coffe this morning??? I have a question about the wheelbarrow EA: if I have a life account with a broker that have 4 digits, what will be the setup..30 0r 3 for the parameters ( breakeven and trailing stop)??? thank have a nice day

my coffee is always great

When you have a 4 digit broker u should use 3 instead of 30

check it first on demo, to be sure it works as it should before putting it on live

Udine
Sleep less, live fast, as it aint gonna last
  • #28,118
  • Mar 19, 2015 6:52am Mar 19, 2015 6:52am
than you I try on demo fisrt ALWAYS.....
  • #28,119
  • Mar 19, 2015 6:55am Mar 19, 2015 6:55am
Buenos días familia,

Been busy with non forex related stuff.

Only 1 trade for me today. Spread at the time of entry was 1.6 pips.

GBPCHF to TP.

LuXing
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 91 KB
Wisdom begins in wonder
  • #28,120
  • Mar 19, 2015 7:24am Mar 19, 2015 7:24am
Quoting diallist
{quote} Thank you Eric. That is very useful to know. I assume you mean the most recent high and low of the current day and not the previous day.
Correct.
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