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As simple as possible: 00 level trading

  • #28,941
  • Mar 30, 2015 12:19am Mar 30, 2015 12:19am
My first pure ASAP trade. Worked out much better than I expected.
Attached Image (click to enlarge)
Click to Enlarge Name: 150330_EURJPYM15.png Size: 76 KB

Any comments are welcome.
Thanks J16, Sam Seiden, Udine and Jacko
  • #28,942
  • Mar 30, 2015 12:25am Mar 30, 2015 12:25am
Quoting hansolo
my first pure asap trade. Worked out much better than i expected. {image} any comments are welcome.
good job, i took the same trade but at 129.45 a break of the 129.50/ th one 129.50 on this pair is very strong it could been rejected
FREEDOM IS NOT FREE
  • #28,943
  • Mar 30, 2015 12:26am Mar 30, 2015 12:26am
Trade with caution this week is fomc week strange things happen during this week
FREEDOM IS NOT FREE
  • #28,944
  • Mar 30, 2015 12:30am Mar 30, 2015 12:30am
Quoting tantor1973
{quote} good job, i took the same trade but at 129.45 a break of the 129.50/ th one 129.50 on this pair is very strong it could been rejected


I also have a pending trade on GJ @176.7. But price shot up and will probably not get back within the hour. Happy trading everyone!
Thanks J16, Sam Seiden, Udine and Jacko
  • #28,945
  • Mar 30, 2015 12:31am Mar 30, 2015 12:31am
Quoting MosesNMY
Hi All. Candle was long and big, will u still enter next candle open? {image} {image}
I would not enter.
  • #28,946
  • Mar 30, 2015 12:38am Mar 30, 2015 12:38am
Quoting cycle
{quote} I would not enter.
thanks for reply. will take note on this.
Trade With PDF & Wisdom
  • #28,947
  • Mar 30, 2015 12:42am Mar 30, 2015 12:42am
Quoting MosesNMY
Hi All. Candle was long and big, will u still enter next candle open? {image} {image}
For me this would depend on where the bar closes. If it closes near its low I would consider entering. (Beware, I'm still pretty new to this method. My assesment is solely based on my other trading.)
Thanks J16, Sam Seiden, Udine and Jacko
  • #28,948
  • Mar 30, 2015 12:44am Mar 30, 2015 12:44am
Quoting cycle
{quote} i would not enter.
to late body. When i first got to to the simple 00 trading, i said to may self 5 pips you must be joking, a baby could do 5 pips my dog could do five pips, how wrong was i. I started trading and loosing yes loosing, i soon realized that making five 5 is simple but not easy it requires the same analysis for making more pips. That way the day before i plan my trades, even if it just one pair, a draw lines of support and resistance, check up coming news events, look at higher time frames ect. In this way you dont relay as much in the indicator but more on what price is more likely to do and let the market come to you. Have a great day for me to trade the london open i wake up at 2:30 am, jajajajaj and some discipline !!!!
FREEDOM IS NOT FREE
  • #28,949
  • Mar 30, 2015 12:49am Mar 30, 2015 12:49am
Quoting diallist
{quote} Thank you, skyline, for your kind words, though I consider myself unworthy of such high praise. All praise in this thread should be directed toward Udine who is the Master & Commander of this thread. I must admit that I was nagged into checking out this thread by a friend and fellow trader. I have always been a longer term trader, with my trades lasting many hours or even days. I always avoided anything like scalping like the plague because I thought it too risky. But my friend wouldn't leave me alone until I'd at least taken a good honest...
  • #28,950
  • Mar 30, 2015 12:54am Mar 30, 2015 12:54am
Quoting tantor1973
{quote} to late body. When i first got to to the simple 00 trading, i said to may self 5 pips you must be joking, a baby could do 5 pips my dog could do five pips, how wrong was i. I started trading and loosing yes loosing, i soon realized that making five 5 is simple but not easy it requires the same analysis for making more pips. That way the day before i plan my trades, even if it just one pair, a draw lines of support and resistance, check up coming news events, look at higher time frames ect. In this way you dont relay as much in the indicator...
Hi.

I would like to do some reading on Price Action.
Any book to recommend to increase my knowledge on trading.

Thanks.
Trade With PDF & Wisdom
  • #28,951
  • Mar 30, 2015 1:00am Mar 30, 2015 1:00am
Quoting mosesnmy
{quote} hi. I would like to do some reading on price action. Any book to recommend to increase my knowledge on trading. Thanks.
i did not read any book, i think it come with 2yrs of screen time, but look at renko charts and study them it will give you an idea
FREEDOM IS NOT FREE
  • #28,952
  • Mar 30, 2015 1:03am Mar 30, 2015 1:03am
GJ out by TS.

LuXing
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Wisdom begins in wonder
  • #28,953
  • Mar 30, 2015 1:04am Mar 30, 2015 1:04am
Quoting MosesNMY
{quote} Hi. I would like to do some reading on Price Action. Any book to recommend to increase my knowledge on trading. Thanks.
@Moses

Iīd read Steve Nisonīs "Beyond Candlesticks".
Itīs a good primer.

LuXing
Wisdom begins in wonder
  • #28,954
  • Mar 30, 2015 1:11am Mar 30, 2015 1:11am
GJ to TP
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  • #28,955
  • Mar 30, 2015 1:15am Mar 30, 2015 1:15am
Quoting MosesNMY
{quote} Hi. I would like to do some reading on Price Action. Any book to recommend to increase my knowledge on trading. Thanks.
I heard that Al Brooks' books are very good but complicated (never read them). But you find a lot of good information on the web and especially on FF.com. I personally recommed James16, the late jarroo (both on FF.com) and Sam Seiden. Also read Darkstar's posts and maybe Redsword (heard he's good).
Thanks J16, Sam Seiden, Udine and Jacko
  • #28,956
  • Mar 30, 2015 1:25am Mar 30, 2015 1:25am
2nd trade of the day, remenber this is the only pair i trade this means i am looking at this pair only, i had a pending order at 129.800, a brakeout of daily support, probably to close to the daily open, but the thing is that when eurjpy breaks this levels it has good momentum to go for another 5 pips, to 129.85. Done for the day. 2.38 % for the day. Good day!! Done trading for today, now go for a good 2mile run, a good breakfast, and come back tomorrow and do it again!!! Simple!!! Thank udine!!!
Attached Image (click to enlarge)
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FREEDOM IS NOT FREE
  • #28,957
  • Mar 30, 2015 1:26am Mar 30, 2015 1:26am
good gurus are a dime a dozen ........ Udine is "exceptional" READ PAGE 1 FOLLOW THE RULES ,,, adapt as you become proficient ... BUT anything of Steve Nisons' ( the father of candlesticks) is worthwhile reading
Whats That? you're trading What?
  • #28,958
  • Mar 30, 2015 1:27am Mar 30, 2015 1:27am
Quoting LuXing
{quote} @Moses Id read Steve Nisons "Beyond Candlesticks". Its a good primer. LuXing
downloaded PDF version of the book.
Will read through the book.

Thanks.
Trade With PDF & Wisdom
  • #28,959
  • Mar 30, 2015 1:41am Mar 30, 2015 1:41am
Quoting tantor1973
2nd trade of the day, remenber this is the only pair i trade this means i am looking at this pair only, i had a pending order at 129.800, a brakeout of daily support, probably to close to the daily open, but the thing is that when eurjpy breaks this levels it has good momentum to go for another 5 pips, to 129.85. Done for the day. 2.38 % for the day. Good day!! Done trading for today, now go for a good 2mile run, a good breakfast, and come back tomorrow and do it again!!! Simple!!! Thank udine!!! {image}
Very well done!

Would you mind explaining why EJ would keep the momentum after breaking this line? Couldn't it also have turned around here?
Thanks J16, Sam Seiden, Udine and Jacko
  • #28,960
  • Mar 30, 2015 2:28am Mar 30, 2015 2:28am
Market is undecided, still....
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