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As simple as possible: 00 level trading

  • #28,881
  • Edited 11:23am Mar 27, 2015 10:33am | Edited 11:23am
Hi everyone, just discovered this wonderful thread a few weeks ago and have already had some success with it. I'm currently reading the whole thing through and am at page 100. So please forgive if I'm asking questions that have been already answered somewhat later. Couldn't wait to chime into the discussion.

My first question regards rule #2: Entry ONLY the FIRST 00 level.
Let's say price is at 123.55 above the daily open and all rules apply. So I put a long pending order at 123.60. With the opening of the new hour price first retests and breaches the 123.50 to the downside. Would that cancel my outstanding buy order at 123.60 or would it still be valid. In other words: does rule #2 state that we enter on the first 00 level in our direction or do also breaches of a 00 line in the opposite direction cancel any further trade? for that hour?

Sorry, a little bit hard to put into words. Hopefully you understand.
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Thanks J16, Sam Seiden, Udine and Jacko
  • #28,882
  • Mar 27, 2015 10:36am Mar 27, 2015 10:36am
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....
Hi there!
Wheelbarrel was used,setting 10sl 5 tp and 3.5 ts. What is most important here to me, that without complicating charts, using pivot points or other lines you can trade easily
  • #28,883
  • Mar 27, 2015 10:37am Mar 27, 2015 10:37am
Quoting firewight
{quote} 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!
yes they were tested on same time, nothing was different
  • #28,884
  • Mar 27, 2015 11:09am Mar 27, 2015 11:09am
Quoting skyline
GJ to TP {image} GU to TP {image} Result {image} 4% Daily Target Done {image} Ty Udine


Attached Image



Nice TP:s ...but on GBPJPY the candle before was huge this time (around 75 pips), ATR480 was 24 on my chart so 3 times that.

Udine - did you take this one?

I will post my weekly results for my level 1 trades later tonight. I might put in a question or two in that post.
By the way...are you professionals trading Fridays also until London close or do you pull the plug earlier?
  • #28,885
  • Mar 27, 2015 11:14am Mar 27, 2015 11:14am
Plug pulling needs to be done as early as possible!

Have a nice weekend all!

Attached Image
Persistence will get it. Consistency will keep it.
  • #28,886
  • Mar 27, 2015 11:16am Mar 27, 2015 11:16am
Quoting orangutangas
{quote} Hi there! Wheelbarrel was used,setting 10sl 5 tp and 3.5 ts. What is most important here to me, that without complicating charts, using pivot points or other lines you can trade easily
Thanks orangutangas,

In your testing, did you also capture what percentage of TS's, after occurring, went on to profit (+5) first or to stop (-10) first?

I would be interested to see the effects on profit that a series of TS's has.

Again, thanks for sharing your hard earned data with us.

Dial
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #28,887
  • Mar 27, 2015 11:25am Mar 27, 2015 11:25am
Quoting LFN
{quote} Nice TP:s ...but on GBPJPY the candle before was huge this time (around 75 pips), ATR480 was 24 on my chart so 3 times that. Udine - did you take this one? I will post my weekly results for my level 1 trades later tonight. I might put in a question or two in that post. By the way...are you professionals trading Fridays also until London close or do you pull the plug earlier? {image}
Hi LFN,
actually EA does not take into account the ATR480 but the ADR (as per rule #11), if the order was opened there was certainly room for upward movement otherwise it would have placed no orders.
I'm not a professional trader but i'm trading this method from london open to london close, monday to friday.
I quit trading before london close whatever events occurs first : daily target reached, Max losses per day reached.

Cheers,
Skyline
  • #28,888
  • Mar 27, 2015 11:38am Mar 27, 2015 11:38am
I dont see the ATR in the rules guys, is this being considered in what level of importance for this strategy?
  • #28,889
  • Mar 27, 2015 11:58am Mar 27, 2015 11:58am
First trade after long, long break.

GJ TP
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  • #28,890
  • Mar 27, 2015 1:25pm Mar 27, 2015 1:25pm
This week in M1 (2% risk)
Attached Image

i want to explain what i do:
1.Time frame M1
2.D1 H1 Candle
3.Technical analysis for levels of resistance / support to skip bad trades
When we have a change put frist order, if you get TP or SL continue to put orders above(for long) at 05 lvl to the next change and stop the round.
do not start doing it now.
Make at least 1 month in the history of test to see if it work for you
  • #28,891
  • Mar 27, 2015 1:47pm Mar 27, 2015 1:47pm
Quoting RoneyFX
This week in M1 (2% risk) {image} i want to explain what i do: 1.Time frame M1 2.D1 H1 Candle 3.Technical analysis for levels of resistance / support to skip bad trades When we have a change put frist order, if you get TP or SL continue to put orders above(for long) at 05 lvl to the next change and stop the round. do not start doing it now. Make at least 1 month in the history of test to see if it work for you
Impressive weekly results Roney! Congrats!

Could you possibly post a chart so we can see what you mean?

Thanks!

Dobbsie
  • #28,892
  • Mar 27, 2015 2:01pm Mar 27, 2015 2:01pm
Quoting RoneyFX
This week in M1 (2% risk) {image} i want to explain what i do: 1.Time frame M1 2.D1 H1 Candle 3.Technical analysis for levels of resistance / support to skip bad trades When we have a change put frist order, if you get TP or SL continue to put orders above(for long) at 05 lvl to the next change and stop the round. do not start doing it now. Make at least 1 month in the history of test to see if it work for you

You may get in trouble since this pretty far from the original system, but I am interested so I hope you post more.
Would you post a chart, how are you tracking the D1, H1 candles? ("pricetoopen" indicator or "m-candles"?
Are you using 10 pip SL and 5 pip target?

PGPB
  • #28,893
  • Mar 27, 2015 2:32pm Mar 27, 2015 2:32pm
Quoting RoneyFX
This week in M1 (2% risk) {image} i want to explain what i do: 1.Time frame M1 2.D1 H1 Candle 3.Technical analysis for levels of resistance / support to skip bad trades When we have a change put frist order, if you get TP or SL continue to put orders above(for long) at 05 lvl to the next change and stop the round. do not start doing it now. Make at least 1 month in the history of test to see if it work for you
Hi Roney,

Thank you for posting but your instructions are not clear enough for me to understand what you're doing.

I don't know what you mean when you said get a change then at the next change stop the round. What is a change? In other words, what is changing? What is a round?

If you could post a chart or two with some clearer instructions it would be greatly appreciated.

Thank you.

Dial
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #28,894
  • Mar 27, 2015 2:46pm Mar 27, 2015 2:46pm
Quoting diallist
{quote} Hi Roney, Thank you for posting but your instructions are not clear enough for me to understand what you're doing. I don't know what you mean when you said get a change then at the next change stop the round. What is a change? In other words, what is changing? What is a round? If you could post a chart or two with some clearer instructions it would be greatly appreciated. Thank you. Dial
H1 D1 trend color change (priceToOpen)
in m1 when i have a long color change to put orders and make profit, i call it round to simplify.
Im working in, i have a lot of variations to test, currently 90% of my trading time is to test something new, guys just try we have all different experience and everyone can discover something new and powerfull.
I promise to create a strategy ready to use, in Udine style, this is for people who can work a lot of hours and i need some months to finish it very sorry if i do not participate in the discussions but as you can image I have a lot of work to do
  • #28,895
  • Mar 27, 2015 4:57pm Mar 27, 2015 4:57pm
Quoting RoneyFX
{quote} H1 D1 trend color change (priceToOpen) in m1 when i have a long color change to put orders and make profit, i call it round to simplify. Im working in, i have a lot of variations to test, currently 90% of my trading time is to test something new, guys just try we have all different experience and everyone can discover something new and powerfull. I promise to create a strategy ready to use, in Udine style, this is for people who can work a lot of hours and i need some months to finish it very sorry if i do not participate in the discussions...
Thanks for the reply Roney.
Have a nice weekend.
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #28,896
  • Mar 27, 2015 5:22pm Mar 27, 2015 5:22pm
Hi guys,
Here is a mod I was asked to make to this daily open indicator...
It now can have the open hour offset to match Udines broker so you will have the same signals...

All the best with your trading,
MrTD
Attached File(s)
File Type: mq4 #PriceToOpen_Mod_MrTD.mq4   2 KB | 456 downloads
  • #28,897
  • Mar 27, 2015 5:46pm Mar 27, 2015 5:46pm
Quoting skyline
{quote} 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 : {image}...
Hi, Skyline. I see you are a programmer. I am too. I hope you will not give away your EA when it is successful. I do not think anyone who comes here and is not willing to do the work or pay, they should not get such a gift. If you plan to sell it, that would be better. Mine is running nicely and will soon be linked to my Dashboard which is available for subscription for those who cannot trade due to time or are struggling with this method.
  • #28,898
  • Mar 27, 2015 5:48pm Mar 27, 2015 5:48pm
Nice! One minute in the trade...

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  • #28,899
  • Mar 27, 2015 6:02pm Mar 27, 2015 6:02pm
Quoting MrTD
Hi guys, Here is a mod I was asked to make to this daily open indicator... It now can have the open hour offset to match Udines broker so you will have the same signals... All the best with your trading, MrTD {file}
Thanks for this! was looking for it.
  • #28,900
  • Mar 27, 2015 8:51pm Mar 27, 2015 8:51pm
Hi All.

Can tell me what the different between ASH and MTF ASH?
If a stupid question, please answer as well, i want to learn more regarding the indicator.

Thanks.
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