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As simple as possible: 00 level trading

  • #29,461
  • Apr 11, 2015 9:11am Apr 11, 2015 9:11am
Quoting Robinho
Good morning friends ... for operators friends like me, I have something to say :. We need not have the same tools like the nasap own. The Udine method is very simple. 1) We need to follow the rules Udine 2) We need a power indicator, and seek to make the entries between the coins 1 and 2 X 7 and 8. 3) Put on the correlation indicator in post 29446. The rest of all the technical, someone starting out with a time will understand. Only following the rules Udine, will ever succeed ... if you can associate the correlation with the strength, hardly will...
What do you mean by " coins 1º and 2º X 7º and 8º."???
  • #29,462
  • Apr 11, 2015 9:30am Apr 11, 2015 9:30am
Quoting 4xgmp
{quote} What do you mean by " coins 1 and 2 X 7 and 8."???

That friend.

During the day the weaker currencies tend to get much of the trade in 8º and 7º in the power panel.

A tip: Since this indicator compared with all or other indicators, IT'S ALL THE SAME THING ... ALL without exception. The interim coins usually change, not much, but what matters to all of us is:

1º and 2º X 7º and 8º ....

Mainly make entries only against 8º ... go against 8º is paramount.

CONFIRMING ALWAYS WITH ALL RULES UDINE.

LEAVE THE WINDOW
Attached Image (click to enlarge)
Click to Enlarge Name: 1x8.png Size: 248 KB
Attached File(s)
File Type: ex4 Currency Strength - Giraia.ex4   30 KB | 626 downloads
File Type: mq4 Currency Strength - Giraia.mq4   18 KB | 719 downloads
  • #29,463
  • Apr 11, 2015 9:59am Apr 11, 2015 9:59am
Many years ago I posted in forum a correlation indicator, and the figures are almost identical with mataf.net

Maybe can you use or adapt it on changing the time frames.
Certainly is not as good as the brilliant matrix of @nasap, but anyone can develop it further.
Attached Image
Attached File(s)
File Type: mq4 smCorrelation MultiPairs.mq4   16 KB | 1,754 downloads
File Type: tpl smCorrelationMultiPairs.tpl   25 KB | 734 downloads
  • #29,464
  • Apr 11, 2015 10:18am Apr 11, 2015 10:18am
Quoting Robinho
{quote} That friend. During the day the weaker currencies tend to get much of the trade in 8 and 7 in the power panel. A tip: Since this indicator compared with all or other indicators, IT'S ALL THE SAME THING ... ALL without exception. The interim coins usually change, not much, but what matters to all of us is: 1 and 2 X 7 and 8 .... Mainly make entries only against 8 ... go against 8 is paramount. CONFIRMING ALWAYS WITH ALL RULES UDINE. LEAVE THE WINDOW {file} {file} {image}

are you saying that you trade counter trend to the strength directions on the 30 minutes chart. surely though, you are at least are doing as udine taught and following with the higher timeframe daily trend only. are you staying with the daily direction? are you waiting for a 30 or 15 minute break of open or high/low? or not? are you saying that you are using 7* or 8* as an overbought oversold condition to jump into the market? Please clarify, Thanks
  • #29,465
  • Apr 11, 2015 10:27am Apr 11, 2015 10:27am
Quoting nasap
This post is not to show or teach you (Udine and some others do their very best already) how you can become a successful trader but might you start thinking. Why trader still fail in this very simple trading strategy! No matter what information they get, they will not become successful because they can't put things together. What do we need? 1. Strategy (we have) 2. Rules (we have) 3. Indicators (we have) 4. Nanny! (urgently needed) Ok, let me be your Nanny for this last lesson because it's boring already to repeat such simple things again and again....

thanks. what formula are you using for momentum? are you considering bottom up only? thanks
  • #29,466
  • Apr 11, 2015 10:39am Apr 11, 2015 10:39am
Quoting dagoods
{quote} are you saying that you trade counter trend to the strength directions on the 30 minutes chart. surely though, you are at least are doing as udine taught and following with the higher timeframe daily trend only. are you staying with the daily direction? are you waiting for a 30 or 15 minute break of open or high/low? or not? are you saying that you are using 7* or 8* as an overbought oversold condition to jump into the market? Please clarify, Thanks
did not quite understand what you mean ... I just follow the rule Udine,,, and when the trigger married try to force coforme've talked several times ... 1st in force against 8,,, nothing much,,, technique see it or see it,,, as the Udine speaks,,, SIMPLE and more.
  • #29,467
  • Edited 1:25pm Apr 11, 2015 11:00am | Edited 1:25pm
Quoting SwingMan
Many years ago I posted in forum a correlation indicator, and the figures are almost identical with mataf.net Maybe can you use or adapt it on changing the time frames. Certainly is not as good as the brilliant matrix of @nasap, but anyone can develop it further. {image} {file} {file}

Thank you ... I'm riding, its indicator on a chart, because I will only put couples need for each pair.
grateful
  • #29,468
  • Apr 11, 2015 11:48am Apr 11, 2015 11:48am
Just a tip for friends ... Only need Correlation, who makes more than one entry at a time. The operator making only one entry at a time, with Udine rules and tighter (1 X 8), will not need anything correlation.

Choose the 1st option. reagras Udine + strength (1 X 8). If we make a 2nd or 3rd entry, why do we need correlation?

We will need the correlation to find out if this couple, beyond Udine rules, are walking along with the 1st option.
  • #29,469
  • Apr 11, 2015 5:01pm Apr 11, 2015 5:01pm
{quote} are you saying that you trade counter trend to the strength directions on the 30 minutes chart. surely though, you are at least are doing as udine taught and following with the higher timeframe daily trend only. are you staying with the daily direction? are you waiting for a 30 or 15 minute break of open or high/low? or not? are you saying that you are using 7* or 8* as an overbought oversold condition to jump into the market? Please clarify, Thanks[/quote]


Hey DaGoods,

Allow me to clarify what Robinho is trying to say here, and it's very simple when you think about it and follow the rules.
Attached Image


Take a look at the Picture Above, and you will see exactly what he's talking about.

1- CAD is at the Top on the scale, and it means CAD for that day is very "STRONG"
2- AUD is 2nd on the scale, and it means AUD for that day is "STRONG"

Now,
7- EUR is the 2nd Bottom on that scale, it means for that day EUR is "Weak"
8- GBP is at the very bottom, and clearly GBP is "VERY WEAK "

In order to avoid sideways market or whipsaws that day, your Job as a Trader is to
BUYING STRENGTHS and SELLING WEAKNESSES

With that in mind, you will have to combine something like this:

LONG TRADE ONLY -------- Strong Currency/Weak Currency

SHORT TRADE ONLY -------- Weak Currency /Strong Currency

CAD/GBP is not an instrument, instead you will have to Sell (GBP/CAD, because GBP is weak/ CAD is Strong )

CAD/EUR is not an instrument, instead you will have to Sell (EUR/CAD, because EUR is weak/ CAD is Strong)

AUD/GBP is not an instrument, instead you will have to Sell (GBP/AUD, because GBP is weak/ AUD is Strong )

AUD/EUR is not an instrument, instead you will have to Sell (EUR/AUD, because EUR is weak/ AUD is Strong)


Note: If you really want to GO LONG so badly that day, you will have to ignore that 1 and 2 x 7 and 8 Formula.

And Look for Long Trades like this: CAD/JPY ; CAD/CHF - AUD/JPY; AUD/CHF, AUD/USD; AUD/NZD and AUD/CAD

I promise you they won't move that much, and you will see tons of sideways or indecisions
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #29,470
  • Apr 11, 2015 7:40pm Apr 11, 2015 7:40pm
Quoting SwingMan
Many years ago I posted in forum a correlation indicator, and the figures are almost identical with mataf.net Maybe can you use or adapt it on changing the time frames. Certainly is not as good as the brilliant matrix of @nasap, but anyone can develop it further. {image} {file} {file}
Amazing SM thank you for your share!
  • #29,471
  • Apr 11, 2015 9:05pm Apr 11, 2015 9:05pm
Quoting Robinho
{quote} That friend. During the day the weaker currencies tend to get much of the trade in 8 and 7 in the power panel. A tip: Since this indicator compared with all or other indicators, IT'S ALL THE SAME THING ... ALL without exception. The interim coins usually change, not much, but what matters to all of us is: 1 and 2 X 7 and 8 .... Mainly make entries only against 8 ... go against 8 is paramount. CONFIRMING ALWAYS WITH ALL RULES UDINE. LEAVE THE WINDOW {file} {file} {image}
Thanks for your kind explanation Robinho. I appreciate it very much. I now fully understand what you mean and it fully makes sense.

Are you using an online Portuguese/English translator? I often see some Portuguese words there and there in your posts which I usually understand without problem because I know Spanish and French.

Thanks again and keep it up. I love reading your posts.

4xgmp
  • #29,472
  • Apr 12, 2015 3:41am Apr 12, 2015 3:41am
Hi OctaveJay,

It makes a lot of sense what you and Robinho are saying, the only problem I have is the following.
If you look at your screenshot it is very clear what the strongest and weakest currencies are, but it is not for that day.
It is for that moment!! I see a lot of movement between the strongest and weakest currencies.
So it can happen that at the moment I place an order (i.e. short GBPCAD in your example) that 2 minutes later JPY is the strongest and NZD is the weakest.

Can you tell me how to deal with that?

Kind regards,

Gizmo
  • #29,473
  • Apr 12, 2015 8:16am Apr 12, 2015 8:16am
Quoting gizmo96
Hi OctaveJay, It makes a lot of sense what you and Robinho are saying, the only problem I have is the following. If you look at your screenshot it is very clear what the strongest and weakest currencies are, but it is not for that day. It is for that moment!! I see a lot of movement between the strongest and weakest currencies. So it can happen that at the moment I place an order (i.e. short GBPCAD in your example) that 2 minutes later JPY is the strongest and NZD is the weakest. Can you tell me how to deal with that? Kind regards, Gizmo
Good morning, Spend to repair it, as I said. The weakest ... the 8 in the force usually stay for long. We will not be looking at that strength all day, we usually look at the strength of 30 in 30 minutes, according to Udine rule. Do not forget.

1st Look Udine rules and then see Force ...

On the day doing that way everyone will get the hang of start to look at it fondly, because doing so will not hardly make the 05 pips ... and do not forget, only 2% per day, will give us ... $$ $$$
  • #29,474
  • Apr 12, 2015 8:47am Apr 12, 2015 8:47am
Quoting Asmodai
{quote} Another post from Mastermind saved in my post library. Great post. Asmodai
I'm always very pleased when at least one trader takes notice.

Thumbs up to you Asmodai ........

Masterrmind...........
Master your Mind then Master your Trades
  • #29,475
  • Apr 12, 2015 10:37am Apr 12, 2015 10:37am
Quoting Masterrmind
{quote} I'm always very pleased when at least one trader takes notice. Thumbs up to you Asmodai ........ Masterrmind...........
I can assure you there are many of us... Good to see you back.
  • #29,476
  • Apr 12, 2015 1:24pm Apr 12, 2015 1:24pm
Quoting Nik-Nyc
{quote} I can assure you there are many of us... Good to see you back.
Hi Mastermind, whenever I trade following your simple but acute observations I always go to TP.
Thank you one more time for all the charts, explanations and hints that you have given to all of us.
Porta itineris dicitur longissima esse
  • #29,477
  • Apr 12, 2015 4:43pm Apr 12, 2015 4:43pm
Quoting gizmo96
Hi OctaveJay, It makes a lot of sense what you and Robinho are saying, the only problem I have is the following. If you look at your screenshot it is very clear what the strongest and weakest currencies are, but it is not for that day. It is for that moment!! I see a lot of movement between the strongest and weakest currencies. So it can happen that at the moment I place an order (i.e. short GBPCAD in your example) that 2 minutes later JPY is the strongest and NZD is the weakest. Can you tell me how to deal with that? Kind regards, Gizmo
Hi Gizmo96,

You made a great point, and I did notice exactly what you said on your comment...And, I am going
to tell you how to deal with it....

Before you place any trade, make any decision or even look at the Supreme meter Indicator. I suggest
that you go to your FF weekly calendar and check the News Events for that day so that you could have
an idea of what kind of volatilities you should expect in the Market.

Then after that, you go to your supreme meter and select a few pairs to trade...Don't waste your time
looking at the meter every hour on the hour...Once, you select your pairs, your job as a trader is to look
for Market Structure on them pairs...

This might not be important right now, but there's a big difference between Market Direction and Market
Sentiment.... Meaning if you have a Bearish Bias on GBP/CAD, and you see Price Action is going up...Just
ignore that bullish move because it's a temporary move for a better Sell Entry... Then you pull the trigger
once you start seeing Bearish Evidence....

If you follow UDINE Rule on that case, 5-10 pips profit is like stealing candy from a kid or catching a falling
knife blindfolded. Hehe!

P.S Monday is going to be a slow day, just Observe the Market and try to implement those techniques on
your own and you will have a better understanding and feel more relax to trade this Market!
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #29,478
  • Apr 12, 2015 8:45pm Apr 12, 2015 8:45pm
Hey guys.

Im back from my Thailand trip and just caught up on the last 15 or so pages. lots of talk about sync & strength & correlation... All interesting stuff...

I'm back into it using standard Udines 4 pairs & general L1 rules, not gonna get swept up in anything else just yet.

See you tonight at FF/LO!

Cheers!
Life is like a snickers, its full of nuts!
  • #29,479
  • Apr 12, 2015 9:05pm Apr 12, 2015 9:05pm
welcome back firewight!!! You got it. All I do is trade Udines system.... Nothing more nothing less. It's a lifestyle for sure.
Good luck!
  • #29,480
  • Edited 9:51pm Apr 12, 2015 9:10pm | Edited 9:51pm
First trade...
Attached Image
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