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As simple as possible: 00 level trading

  • #28,261
  • Mar 21, 2015 6:46am Mar 21, 2015 6:46am
Quoting diallist
{quote} LuXing, I'm surprised you wasted time on Mr. SpoonFeedMeBecauseImTooDamnLazyToDoAnythingForMyself
Oh well, for a moment I thought you were going to pull out (part of) your psychological sticky ...

LuXing
Wisdom begins in wonder
  • #28,262
  • Mar 21, 2015 8:12am Mar 21, 2015 8:12am
Quoting diallist
{quote} Try this, Robinho. (Ignore the "i" suffix in the screenshot. I've removed it from the code, so it should work for you.) Dial {image} {file} {file}
Thank Luxing, attention.
diallist, you're good to forex and heart.

Taking advantage of the good will, like indicator (ATR) (480) in images.


NOTE: Wish pay a visit to Brazil, will be a pleasure.
  • #28,263
  • Mar 21, 2015 8:13am Mar 21, 2015 8:13am
Diallist,
Thanks you for the answer, even if it does not say that much.
And you LuXing, well! If I am something, it is not ''lazy, spoonfed'' as you call it.
This thread has 1400 posts and I read the first 40 or so. The rest are most probably on EAs which are for the ''lazy and spoonfed''. I asked two very simple and straightforward questions. It really does not take too long to answer them.

I know about so called psychological levels. If you were talking about every 100 pips, I could understand the possible importance of the level. But every 10 pips? You really think it means something? Maybe, but I doubt it.

Insider
  • #28,264
  • Mar 21, 2015 8:32am Mar 21, 2015 8:32am
Where is that PDF everyone is referring to?

Insider
  • #28,265
  • Mar 21, 2015 8:56am Mar 21, 2015 8:56am
Oh I get it! Patience, Discipline, Focus.
I think I have heard that somewhere before...

There is something else that makes me a bit curious. if you have an hedge in trading, don't you think that you could in fact get ''greedy''. The ''get ten pips a day'' stuff just does not make any sense. If you were calling Heads and Tails and you knew in advance that Heads comes up 70% of the times, would you say: ''Ok today I will have one win and call it quits for the day'' No, you would not say that. You would play until your fingers are numb, or you have to get your mother at the bingo hall or something. That is what almost any intelligent person would do. When you do have an edge, you milk it as good as you can.

Now before Diallist, or anybody else calls me names, try to answer me logically.

I was once playing a casino game where I knew for sure I had an edge. I played small for relatively long periods of time. I made money the sure way. Well in the six figures. This is the way to milk it.

Insider
  • #28,266
  • Mar 21, 2015 9:07am Mar 21, 2015 9:07am
Quoting insider999
Oh I get it! Patience, Discipline, Focus. I think I have heard that somewhere before... There is something else that makes me a bit curious. if you have an hedge in trading, don't you think that you could in fact get ''greedy''. The ''get ten pips a day'' stuff just does not make any sense. If you were calling Heads and Tails and you knew in advance that Heads comes up 70% of the times, would you say: ''Ok today I will have one win and call it quits for the day'' No, you would not say that. You would play until your fingers are numb, or you have...
I think you are asking people to "justify" this system to you.

They won't. Why should they?

You must decide for yourself if it is something worth following or not. And if not, then leave.

Vlad
  • #28,267
  • Mar 21, 2015 9:09am Mar 21, 2015 9:09am
Quoting insider999
Diallist, Thanks you for the answer, even if it does not say that much. And you LuXing, well! If I am something, it is not ''lazy, spoonfed'' as you call it. This thread has 1400 posts and I read the first 40 or so. The rest are most probably on EAs which are for the ''lazy and spoonfed''. I asked two very simple and straightforward questions. It really does not take too long to answer them. I know about so called psychological levels. If you were talking about every 100 pips, I could understand the possible importance of the level. But every 10...

Insider,

simply said the 50 /00 levels are lines in the sand ..

price needs to move, so you need a line in the sand that you can use as entry level.

you could also use the 40/80 level or any other for that matter..

Udine
Sleep less, live fast, as it aint gonna last
  • #28,268
  • Mar 21, 2015 9:15am Mar 21, 2015 9:15am
Quoting insider999
Oh I get it! Patience, Discipline, Focus. I think I have heard that somewhere before... There is something else that makes me a bit curious. if you have an hedge in trading, don't you think that you could in fact get ''greedy''. The ''get ten pips a day'' stuff just does not make any sense. If you were calling Heads and Tails and you knew in advance that Heads comes up 70% of the times, would you say: ''Ok today I will have one win and call it quits for the day'' No, you would not say that. You would play until your fingers are numb, or you have...
Insider,

I have an edge in trading and make at least 1K a day, why the hell do I need to get greedy ??

Can you eat more than one steak a day?
Can you drive more than one car at the same time?? (besides why would you need two)
etc
etc

As long as me and my family can live comfortably, and we can diversify in passive income streams... why the hell do I need to get greedy ??

Btw: "I was once playing a casino game where I knew for sure I had an edge. I played small for relatively long periods of time. I made money the sure way. Well in the six figures. This is the way to milk it."

If that works what are you trying to find in forex, that your casino system cannot give you???

Udine
Sleep less, live fast, as it aint gonna last
  • #28,269
  • Mar 21, 2015 9:32am Mar 21, 2015 9:32am
Udine,
Thank you for the reply.
If you can make a good living with this method, I am TRULY very happy for you! But if you can make 1K per day with ten pips, then you have a pretty large account, right? Do you think everybody here has the same account? Ok. If not, then they need to milk the cow a little longer, me thinks.

I do not have the edge I had at the casino I once had. So I don't play anymore.

You say the levels are ''lines in the sand''. I understand that. But you did not understand my point, which is that ''important'' levels might have significance. Like 179.00, 180.00 etc. But every ten pips? Maybe, I am just asking.

Again, I am not saying your method is invalid. I don't know that. But can anyone ask questions without being blasted here?
Is the gist of your system in the very first post? Or is it explained better somewhere else?
  • #28,270
  • Mar 21, 2015 10:38am Mar 21, 2015 10:38am
Quoting insider999
Udine, Thank you for the reply. If you can make a good living with this method, I am TRULY very happy for you! But if you can make 1K per day with ten pips, then you have a pretty large account, right? Do you think everybody here has the same account? Ok. If not, then they need to milk the cow a little longer, me thinks. I do not have the edge I had at the casino I once had. So I don't play anymore. You say the levels are ''lines in the sand''. I understand that. But you did not understand my point, which is that ''important'' levels might have...
I think your missing the overall idea.My view of this system:I have had (I'm sure most have also) days where 100 pip gains were earned pip by pip over hours and hours then lost them all after a few bad trades. This is bad trading that we all have learned, some the hard way. Does it work?? yeah, as long as there are enough wins. What I believe Udine is trying to show us is more about quality than quantity. Since I've been studying the system there has been days with very few entries. Even if you get stopped out you only enter a few times and you're done. The 00 levels are this systems entry points, just as the 2‰ goal is a part, as is the cap on losses. To answer your question about the "gist" it is explained very clearly in post 1. Udine even keeps it updated with critical info, last updated March 16. System has changed very little since inception, but I'm sure you understand that after better part of a year it has become more refined however if you followed the initial guidelines you would be just fine.I'm sure you could modify the system and be successful. One could view .1 pip as a psychological level, if it stays there long enough we know it will go up or down soon. Feel free to take trades as you wish, ignore parts of system as you wish. Just remember to be respectful of the thread and speak with udine prior to posting modifications/results/attachments as they deviate from thread.Good luck, hope you find some good in what I say.
  • #28,271
  • Mar 21, 2015 10:47am Mar 21, 2015 10:47am
Quoting insider999
Udine, Thank you for the reply. If you can make a good living with this method, I am TRULY very happy for you! But if you can make 1K per day with ten pips, then you have a pretty large account, right? Do you think everybody here has the same account? Ok. If not, then they need to milk the cow a little longer, me thinks. I do not have the edge I had at the casino I once had. So I don't play anymore. You say the levels are ''lines in the sand''. I understand that. But you did not understand my point, which is that ''important'' levels might have...
Hi Insider999,
well everything is subjective when speaking about trading, maybe for some traders 00 level are psicological important while for other traders doesn't matter 00 levels at all.
What is important, I guess, is that you have to decide for yourself, no one here could tell you if this system (or another one) is suitable for you.
You have to get to your conclusion (after reading at least first 100-200 pages) if this trading approach could have any merit to be trade or if it's a completely wast of time, as well only you can pull the trigger and place trades accordingly.
As an example I'm a little hesitant too about this strategy, even if I coded an EA to trade it , mostly because it cannot be backtested since it relies to news, so it would be a very long process to manual backtest properly but I guess that could have some merit to be traded mostly because it is designed around sound principles trying to lowering risk and keep constant profit day in day out.

Regards,
Skyline
  • #28,272
  • Mar 21, 2015 11:16am Mar 21, 2015 11:16am
Quoting insider999
Udine, Thank you for the reply. If you can make a good living with this method, I am TRULY very happy for you! But if you can make 1K per day with ten pips, then you have a pretty large account, right? Do you think everybody here has the same account? Ok. If not, then they need to milk the cow a little longer, me thinks. I do not have the edge I had at the casino I once had. So I don't play anymore. You say the levels are ''lines in the sand''. I understand that. But you did not understand my point, which is that ''important'' levels might have...
Quoting insider999
But can anyone ask questions without being blasted here? Is the gist of your system in the very first post? Or is it explained better somewhere else?
Insider,

Because your last posts have been on the civil side rather than the flaming side as I expected they would be, you merit a better reply in my book:

Over the last 10 months and 28,000+ posts, this thread has developed a culture. In that culture, if someone comes in with their initial question, and along with that question gives some indication that they have thoroughly read at least the first hundred pages, then they will get an answer to a few questions. Your initial post felt (to some at least) like you had little interest in reading for yourself, and you also came off as a bit insulting and dismissive. That may or may not have been your intent, but that's how it was taken.

Is the gist of the system in the very first post? I would say yes, but that is just the doorway. If that's all you take from this thread, and really work it, you can make steady income. If you go down the hall by reading at least the first 2000 posts, you'll increase your odds of success with the basic method. If you enter fully into the house, exploring all the rooms and meeting all the occupants by reading the entire thread, you will have learned a great deal more than one would expect from most threads. Sure there's a lot of ore, but the gold to be found within that ore is worth the effort. I have read the entire thread, and several others here have too, and there are no regrets.

On the culture again, even the folks who ask their initial question coupled with some evidence of having read the first part of the thread, will get a question or three answered, but then are expected to work for themselves and find answers for themselves. Spoonfeeding is highly frowned upon in this culture, but self reliance is encouraged. In this thread, we don't hand out fish... we hand out fishing poles and directions to the lake.

I would be happy to have you join us, if you so choose.

Dial

From here, it is your choice whether this thread is not for you, or whether you want to become part of the culture.
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #28,273
  • Mar 21, 2015 12:17pm Mar 21, 2015 12:17pm
Quoting moretti12
@nasap Can you explain how we setup an excel sheet?
@Moretti

You can find both an excellent Excel spreadsheet and its setup information here

LuXing
Wisdom begins in wonder
  • #28,274
  • Mar 21, 2015 12:23pm Mar 21, 2015 12:23pm
Quoting Robinho
Udine friend or another friend that can make the ATR INDICATORS appearing in the picture ATR (480). Mine is frozen, because I have it in my browser.
@Robinho

Here“s the indi I use on my charts. Hope that helps !

LuXing
Attached File(s)
File Type: mq4 ATR in Pips modded.mq4   3 KB | 536 downloads
Wisdom begins in wonder
  • #28,275
  • Mar 21, 2015 12:25pm Mar 21, 2015 12:25pm
Quoting nasap
Hello guys, I know the past was not really what we call a good conversation. People become jealous on others just because of their success and started bad talking. But inside this thread there are so many hints that everybody who is able to calculate 1 + 1 can make its profits day by day. Hence, all you have to do is just reading the posts. My Dashboard, some people call it the or my holy grail, was designed to help me to pick the right pairs. However it is not free of faults but I know at any time what I have to do! Therefore, even I would share...

Thanks for your informative post nasap.

May I ask a question about your indicator window 3...
- Is there a reason you have the HeikenAshi_SWAlert in both indicator window 1 and 2?
- You have two PriceToOpen indis, I guess they are 1440 (green/maroon) and 60 (red/green)settings?


Attached Image
  • #28,276
  • Mar 21, 2015 12:33pm Mar 21, 2015 12:33pm
Thanks for the reply Diallist.

I have genuine interest for a thread that has had so much attention.

But I often am the devil's advocate. And it is good when people question the validity of some assumptions.

If a system seems to work, there has to be a reason behind it. A logic behind hit. This what I was trying to put forward. You say:''read on and you will find it''. Fair enough. But you must admit, 28 000 posts...

One thing I noticed also through the years of flirting with Forex forums: the simpler a system seems to be, the more attention (I.E. replies) it gets. And it makes sense too. Most traders with any experience will know that a graph that likes like a Xmas tree will only drive you nuts...and broke! Simplicity is key.

Regards
Insider
  • #28,277
  • Mar 21, 2015 1:22pm Mar 21, 2015 1:22pm
Quoting insider999
Thanks for the reply Diallist. I have genuine interest for a thread that has had so much attention. But I often am the devil's advocate. And it is good when people question the validity of some assumptions. If a system seems to work, there has to be a reason behind it. A logic behind hit. This what I was trying to put forward. You say:''read on and you will find it''. Fair enough. But you must admit, 28 000 posts... One thing I noticed also through the years of flirting with Forex forums: the simpler a system seems to be, the more attention (I.E....
A good reply. I'd like to see you here as a regular.

I suggest you read the first 2000 posts, the last 1000 posts and save everything in between to search and read at your leisure as needed.

You appear to be a levelheaded, clear thinker. Come join the fun, and bring your healthy skepticism with you.

Dial
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #28,278
  • Mar 21, 2015 1:31pm Mar 21, 2015 1:31pm
Quoting cycle
is there any indi which sets off alarm if previous candle was larger than ATR?
@cycle

Udines found a gold nugget.
rhtrader is polishing it and maybe Monday after some more plastic surgery he will post something that does the job.
Green = all good to go, Red = no go.

LuXing
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 15 KB
Wisdom begins in wonder
  • #28,279
  • Mar 21, 2015 1:58pm Mar 21, 2015 1:58pm
Quoting LuXing
{quote} @Robinho Heres the indi I use on my charts. Hope that helps ! LuXing {file}

Brazil is reputed to be friends ... but with so many friends here in this forum sharing and helping ... I think my house is going to be small, to receive so many people here in Brazil.

Thank you friend
  • #28,280
  • Mar 21, 2015 2:07pm Mar 21, 2015 2:07pm
I am a passionate person for life and friends, so I would leave here a suggestion ... just a suggestion because nonsense can lead us to unnecessary hassles.

Because not everyone can keep up with new posts every day.

Due to the photo over the last few days we have received new information, we could make a new summary of the whole setup with all the tools (indicators, Wukar and template). This summary would gain a number of posting where irķamnos send all new to this post.

It's just a suggestion. I would like the opinion of our teacher friend Udine.
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