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As simple as possible: 00 level trading

  • #28,861
  • Mar 27, 2015 5:00am Mar 27, 2015 5:00am
Quoting Vlad13685
{quote} Likewise... I saw the big candle... but I didn't think it was "too" big. These school fees are getting expensive! Vlad
After almost 3 months of trading live this strategy I reached the conclusion it's rather impossible to make money if u don't have 'that' market knowledge/ feeling.
I, for example don't have it and I'm trading for more than 5y now. IMO is smth that u get born with...is not smth that u acquire. I do have the patience, wait for all the rules to comply, use some common sense analysis(which usually is wrong) and enter. At the end of the month I'm barely BE
Today 2 SL I'd need 4 winners just to get BE
Just sharing my experience, I'm not complaining and I do have all respect and appreciation for Udine's work.
  • #28,862
  • Mar 27, 2015 5:05am Mar 27, 2015 5:05am
Quoting Vlad13685
{quote} Likewise... I saw the big candle... but I didn't think it was "too" big. These school fees are getting expensive! Vlad
Correct. That was not a to big candle. Only about 25-30 pips. Fully normal. Look at atr480.
  • #28,863
  • Mar 27, 2015 5:08am Mar 27, 2015 5:08am
some headwind and start complaining... tsssss

watch the chart and what do you see ??

Udine
Attached Image (click to enlarge)
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Sleep less, live fast, as it aint gonna last
  • #28,864
  • Mar 27, 2015 5:09am Mar 27, 2015 5:09am
Quoting gigicualex
{quote} After almost 3 months of trading live this strategy I reached the conclusion it's rather impossible to make money if u don't have 'that' market knowledge/ feeling. I, for example don't have it and I'm trading for more than 5y now. IMO is smth that u get born with...is not smth that u acquire. I do have the patience, wait for all the rules to comply, use some common sense analysis(which usually is wrong) and enter. At the end of the month I'm barely BE Today 2 SL I'd need 4 winners just to get BE Just sharing my experience, I'm not complaining...
Yes fair enough...

For me though its much more about the discipline factor. I am making notes with all my trades, and for every loss, I can account for something that should have kept me out of the trade. And of these losses 90% of the time I saw a reason not to enter before hand, but entered anyway.

So its a battle of the mind, I am learning the hard way but with patience I will conquer this. I am certain that when I get my discipline right I will start to see many more green pips.

Vlad
  • #28,865
  • Mar 27, 2015 5:11am Mar 27, 2015 5:11am
Quoting Udine
some headwind and start complaining... tsssss watch the chart and what do you see ?? Udine {image}
price ranging, and no clear trend involved...am i right?
Trade With PDF & Wisdom
  • #28,866
  • Mar 27, 2015 5:11am Mar 27, 2015 5:11am
Quoting Udine
some headwind and start complaining... tsssss watch the chart and what do you see ?? Udine {image}

I see a reverse pattern, GU turning bullish. Waiting for the retrace so we could buy it

BOE'S CARNEY SAYS NEXT MOVE IN RATES IS LIKELY UP - RTRS
  • #28,867
  • Mar 27, 2015 5:12am Mar 27, 2015 5:12am
use the best indicators u have... left eye and right eye

Udine
Sleep less, live fast, as it aint gonna last
  • #28,868
  • Mar 27, 2015 5:14am Mar 27, 2015 5:14am
Quoting MosesNMY
{quote} price ranging, and no clear trend involved...am i right?

correct, it aint science

Udine
Sleep less, live fast, as it aint gonna last
  • #28,869
  • Mar 27, 2015 5:35am Mar 27, 2015 5:35am
Quoting Udine
some headwind and start complaining... tsssss watch the chart and what do you see ?? Udine {image}
I see this.... storm is coming. ( might be wrong though)
Attached Image (click to enlarge)
Click to Enlarge Name: hGBPUSD+M30.png Size: 141 KB
  • #28,870
  • Mar 27, 2015 5:35am Mar 27, 2015 5:35am
GJ to TP
Attached Image


GU to TP
Attached Image


Result
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot3.png Size: 5 KB


4% Daily Target Done
Attached Image


Ty Udine
  • #28,871
  • Mar 27, 2015 5:37am Mar 27, 2015 5:37am
Quoting skyline
GJ to TP {image} GU to TP {image} Result {image} 4% Daily Target Done {image} Ty Udine



Udine
Sleep less, live fast, as it aint gonna last
  • #28,872
  • Mar 27, 2015 6:19am Mar 27, 2015 6:19am
Hello everybody,

Maybe this question has been answered before,but the reason i ask is becouse i had my trades set up on the GU and GJ pairs but due to negative margin i could not trade those setups, i think my demo account has 1:500 leverage (dont know how to check it?)

So all you traders trading live...what is your leverage level?

Richard
  • #28,873
  • Mar 27, 2015 6:31am Mar 27, 2015 6:31am
Quoting orangutangas
Giving some contribution to this forum. For the ones who still do not decide when to enter. Showing EJ results from beginning of this year till now, only SHORTS for now Entering firs 50/00 lvl, not taking into account pivots,news,s/r, big candles 1. HA&ASH&PO all red and one of them previous were green Trades Profit factor When Entered 91 0.92 On low 133 0.67 On close 2. HA&ASH&PO all red and only entering on change of ASH Trades Profit factor When Entered 25 1.63 On low 32 1.52 On close 3. HA&ASH&PO all red and only entering on change of ASH or...
Hi orangutangas,

Excellent work, and interesting results! Thank you for a most interesting post.

I have one question, and some observations.

Q: Did you also ignore wheelbarrel trailing stop?

O's:
1. It appears that the ASH is the primary and most powerful indicator. No surprise there.
2. It appears that the HA has minimal impact and can be eliminated as Udine has done for the M30 method.
3. It is debatable whether entry on close vs entry on low is better.
4. It reinforces my suspicion that reference to the DO for direction may be unnecessary.

It would be interesting to see if the inclusion of the Wheelbarrel TS would increase or decrease the profit factor.

Thank you again for a most interesting set of data!

Dial
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #28,874
  • Edited 6:54am Mar 27, 2015 6:36am | Edited 6:54am
Quoting hollandpippin
Hello everybody, Maybe this question has been answered before,but the reason i ask is becouse i had my trades set up on the GU and GJ pairs but due to negative margin i could not trade those setups, i think my demo account has 1:500 leverage (dont know how to check it?) So all you traders trading live...what is your leverage level? Richard
Risking 2% on a 10 pip stop yields a true leverage of 20 for xxxUSD pairs.
Leverage will be slightly higher or lower for other pairs.

The main advantage of high broker leverage is reduced margin requirements.

I suspect the reason you could not trade is because your broker has a minimum account balance requirement below which you cannot trade. If that is the case, your only option is to add more money to your account.

Dial
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #28,875
  • Mar 27, 2015 7:13am Mar 27, 2015 7:13am
Quoting diallist
{quote} Hi orangutangas, Excellent work, and interesting results! Thank you for a most interesting post. I have one question, and some observations. Q: Did you also ignore wheelbarrel trailing stop? O's: 1. It appears that the ASH is the primary and most powerful indicator. No surprise there. 2. It appears that the HA has minimal impact and can be eliminated as Udine has done for the M30 method. 3. It is debatable whether entry on close vs entry on low is better. 4. It reinforces my suspicion that reference to the DO for direction may be unnecessary....
My observations are for amusement only. In no way should they be interpreted as meaning we should not follow Udines rules to the letter.

Dial
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #28,876
  • Mar 27, 2015 7:25am Mar 27, 2015 7:25am
Quoting skyline
GJ to TP {image} GU to TP {image} Result {image} 4% Daily Target Done {image} Ty Udine
Skyline, well done!

Just for my understanding: did your EA also take the signals on GJ when it was ranging today (signals before your entry point; entries should have led to SL as indicated by others already)? I assume not.

If not, which criteria do you use to avoid such entries. It's just for my understanding and for my search for objective criteria to prevent such entries. I am not coding an EA myself (just know how to turn my computer on and off, coding an EA would be ten bridges too far).
  • #28,877
  • Mar 27, 2015 7:43am Mar 27, 2015 7:43am
AJ to TP. Thank you Udine and all that have helped share their knowledge.
Attached Image (click to enlarge)
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  • #28,878
  • Mar 27, 2015 8:41am Mar 27, 2015 8:41am
Quoting orangutangas
Giving some contribution to this forum. For the ones who still do not decide when to enter. Showing EJ results from beginning of this year till now, only SHORTS for now Entering firs 50/00 lvl, not taking into account pivots,news,s/r, big candles 1. HA&ASH&PO all red and one of them previous were green Trades Profit factor When Entered 91 0.92 On low 133 0.67 On close 2. HA&ASH&PO all red and only entering on change of ASH Trades Profit factor When Entered 25 1.63 On low 32 1.52 On close 3. HA&ASH&PO all red and only entering on change of ASH or...
So I'm interested to know, were all these methods trading the same charts at the same time side by side on separate accounts, to give a true comparison...?

Cheers!
Life is like a snickers, its full of nuts!
  • #28,879
  • Mar 27, 2015 9:53am Mar 27, 2015 9:53am
Quoting Adam84
{quote} Skyline, well done! Just for my understanding: did your EA also take the signals on GJ when it was ranging today (signals before your entry point; entries should have led to SL as indicated by others already)? I assume not. If not, which criteria do you use to avoid such entries. It's just for my understanding and for my search for objective criteria to prevent such entries. I am not coding an EA myself (just know how to turn my computer on and off, coding an EA would be ten bridges too far).
Hi Adam,
I tried to code EA to open only level 1 signal and only at .00 (not .50).
If you look carefully (IC Markets) on GJ you notice that previous signal wasn't a correct one because when the candle with big wick is forming previous ASH is red, then when candle closed ASH turned to green (with price above daily open) so a valid long signal closed at tp (5 pips), this is why my ea didn't take that losing trade which I think is not a level 1 valid trade (ASH wasn't changed in color at least in my platform).

Hope this picture help you :

Attached Image (click to enlarge)
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  • #28,880
  • Mar 27, 2015 10:16am Mar 27, 2015 10:16am
Hi all,

Here is my trade for today.
GBPJPY -> TP

Kind regards,

Gizmo
Attached Image (click to enlarge)
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