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As simple as possible: 00 level trading

  • #31,021
  • May 15, 2015 8:13am May 15, 2015 8:13am
Quoting Juan007
au -10 aj -10 eu +5
Hi Juan007! Why overtrading? You need this like a hole in the head! I don't know ( I only guess) your exact entries but for AU it was on limit already and close to BRN and the counter part "never trade against H4"! And yes, that's reason enough not to take the trades!
Attached Image (click to enlarge)
Click to Enlarge Name: Ashampoo_Snap_2015.05.15_20h58m51s_023_.png Size: 89 KB

nasap
The little nut in your head is called brain. Use it!
  • #31,022
  • May 15, 2015 8:14am May 15, 2015 8:14am
Quoting Juan007
au -10 aj -10 eu +5
I did not understand you friend

USD all-time 1st

CHF all the time in 8th


You do transactions with other couples ...


1x8 only make it ... you do not need to other pairs. when you see that the pair is saturated or you've arrived at your goal, turn off the PC and will date, study, wash the car,,, will live life. Only do 1x8,,, strength unlike talking,,, it is long.
  • #31,023
  • May 15, 2015 8:29am May 15, 2015 8:29am
Quoting nasap
{quote} Hi Juan007! Why overtrading? You need this like a hole in the head! I don't know ( I only guess) your exact entries but for AU it was on limit already and close to BRN and the counter part "never trade against H4"! And yes, that's reason enough not to take the trades! {image} nasap
Thanks Nasap

Thanks Robinho
  • #31,024
  • May 15, 2015 8:39am May 15, 2015 8:39am
Robinho force

uc
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHFM15 2.png Size: 72 KB
  • #31,025
  • May 15, 2015 8:41am May 15, 2015 8:41am
Quoting Robinho
{quote} I did not understand you friend USD all-time 1st CHF all the time in 8th You do transactions with other couples ... 1x8 only make it ... you do not need to other pairs. when you see that the pair is saturated or you've arrived at your goal, turn off the PC and will date, study, wash the car,,, will live life. Only do 1x8,,, strength unlike talking,,, it is long.


Exactly what I did this morning after Tokyo session! I was happy with 4 trades (33 pip) and switched off laptop.

nasap
The little nut in your head is called brain. Use it!
  • #31,026
  • May 15, 2015 8:48am May 15, 2015 8:48am
Quoting Juan007
Robinho force uc {image}
Juan,

I like your screen setup. Do you have a template you can share?

TIA
Lionsden
  • #31,027
  • Edited 9:04am May 15, 2015 8:54am | Edited 9:04am
Quoting lionsden
{quote} Juan, I like your screen setup. Do you have a template you can share? TIA Lionsden
yes Lionsden

check your OL ON
Attached File(s)
File Type: tpl juan robinho force.tpl   1.1 MB | 570 downloads
  • #31,028
  • May 15, 2015 9:03am May 15, 2015 9:03am
Quoting tradista
I guess I will be the only one posting negative outcomes on a public forum, but I've decided to take charge of my mistakes. I have just blown my live account, taking too large size and becoming emotional with each position. I've tried to use only L1 and L2 setups without any CMS confirmation and traded multiple pairs with spread below 1.5 (EU, GU, EJ, UC, UJ). Mistakes were: revenge trading after a two losers in a row, not sticking to the rules i.e. trying to recover at any cost without even waiting for the next day using almost random entries (actually...
Hi tradista,

you're not alone.
Reading your post is like looking in the mirror.

Many days I reach 2 % target in less that an hour (sometimes minutes), but some of these days instead of stop trading I go on in trading until I lose. And sometimes it happened that losses became big. It's strange : think if somebody knocked on your door and ensured 1 % per day- probably everybody on the earth would then put his signature. I think that most of us can make 1% a day consistently, so why we aren't done ?

Call it greed, fear, lack of discipline it's all a matter of complicated psychology, amounting to more than 50% of the game.
There's something more than pure will and to become consistently profitable for long periods we need to enter a new state of mind.
And sooner or later we will get there.

Best regards,
Bubincka
Porta itineris dicitur longissima esse
  • #31,029
  • May 15, 2015 9:11am May 15, 2015 9:11am
Quoting tradista
I guess I will be the only one posting negative outcomes on a public forum, but I've decided to take charge of my mistakes. I have just blown my live account, taking too large size and becoming emotional with each position. I've tried to use only L1 and L2 setups without any CMS confirmation and traded multiple pairs with spread below 1.5 (EU, GU, EJ, UC, UJ). Mistakes were: revenge trading after a two losers in a row, not sticking to the rules i.e. trying to recover at any cost without even waiting for the next day using almost random entries (actually...
After quite good trading time (two weeks) i fall into worst time. I am 8% DD at the moment from the 1st May. Few times i was few seconds late to set pending order on first 00 or 05 level so put on second. The result was poor - SL. And few other mistakes. Sometimes i was more concentrated on streanth than Udine rules. I am not proud of myself. I am going to take short break and start again to finish this month on BE.
I miss Udine posts and screenshots. It is as important for me as Polar Star for sailors. His posts make me concentrated on most important things. Hope he will come back soon to fix my trading mind on right track.
  • #31,030
  • May 15, 2015 9:45am May 15, 2015 9:45am
Quoting Juan007
{quote} yes Lionsden check your OL ON {file}
thanks...didnt understand OL ON though
  • #31,031
  • May 15, 2015 9:47am May 15, 2015 9:47am
Quoting bubincka
{quote} Hi tradista, you're not alone. Reading your post is like looking in the mirror. Many days I reach 2 % target in less that an hour (sometimes minutes), but some of these days instead of stop trading I go on in trading until I lose. And sometimes it happened that losses became big. It's strange : think if somebody knocked on your door and ensured 1 % per day- probably everybody on the earth would then put his signature. I think that most of us can make 1% a day consistently, so why we aren't done ? Call it greed, fear, lack of discipline...
This is a great post. For the records!

Guys and girls....Lets face up. Remove all the clutter that is in your mind and play this as Udine has advocated all along. A BUSINESS!

Go back, read the first post. Dump everything else and treat it as "tools to help"! But DO NOT LOSE FOCUS.

Do not just look at the top traders wins and think...Dang where was I? How could i have not? NOPE. Study the charts ALL THE TIME. Learn as opposed to Earn.

I see a lot of traders taking trades left, right and center. Think about it...Would I invest with you ever? No way! Thats amateurish. The goal is not how much you make....But how long can you sustain in this business.

If someone is making 30% a day...my money is not with this person. Thats for sure. Be professional.

I had a bad day yesterday. Lost out on a NU trade. What did I do? Shut my computer off as I was down 1% for the day net. Tomorrow is another day. NU gave me back later in the Tokyo session.No worries.

How many extras do you take in a day is a point of personality/character/past experience. Keep it all in perspective. Dont keep looking down at the money down in that account. I look at it once a week. Focus on rules and you will be fine.
PDFBCC. Some of you, like me, are struggling with Patience which affects the D,F, B, C and C. Cut down on your risk if it allows you to to increase the SL. Trade with less money if it allows you to be aggressive. See what I mean.

As a well wisher, I want to wish you safe trading. In any game, there are coaches who tell you what went wrong and how you could do well. In this game unfortunately there are no coaches only slumdog millionaires

In summary, Get real. Be practical. But more importantly, re read post 1 thoroughly. Memorise it! If I can do it, so can you!
  • #31,032
  • May 15, 2015 10:07am May 15, 2015 10:07am
Quoting lionsden
{quote} thanks...didnt understand OL ON though
open london
open new york
  • #31,033
  • May 15, 2015 10:23am May 15, 2015 10:23am
Quoting joe12345
{quote} This is a great post. For the records! Guys and girls....Lets face up. Remove all the clutter that is in your mind and play this as Udine has advocated all along. A BUSINESS! Go back, read the first post. Dump everything else and treat it as "tools to help"! But DO NOT LOSE FOCUS. Do not just look at the top traders wins and think...Dang where was I? How could i have not? NOPE. Study the charts ALL THE TIME. Learn as opposed to Earn. I see a lot of traders taking trades left, right and center. Think about it...Would I invest with you ever?...
Joe12345... great post !!!
  • #31,034
  • May 15, 2015 10:25am May 15, 2015 10:25am
Quoting Juan007
{quote} open london open new york
Understood.

thanks
  • #31,035
  • May 15, 2015 10:26am May 15, 2015 10:26am
hi all, I have a question for robinho: how you can put the absolute indicator with differents TF on the 5min chart , I found no parameter to adjut that.

May be I don't have the good version...

can you send you version of this indicator?

I have some loss this week and what I did is to reduce the lot size at min.... tp 5-6 pips only until I feel better ( control emotions...)

have a nice day

liberty55
  • #31,036
  • May 15, 2015 10:43am May 15, 2015 10:43am
Thanks guys for coming forward and sharing your thoughts and showing that I am not alone in the "pain", and thanks also for the wise word of those who are already making Udine's method their bread and butter everyday routine in a professional way. I really appreciated the reminders.
  • #31,037
  • May 15, 2015 10:46am May 15, 2015 10:46am
ej +5
eu +5
eu+5
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURJPYM5 1.png Size: 44 KB
Click to Enlarge Name: EURUSDM1 18.png Size: 42 KB
  • #31,038
  • May 15, 2015 10:46am May 15, 2015 10:46am
Quoting bubincka
{quote} Hi tradista, you're not alone. Reading your post is like looking in the mirror.
Wish it wasn't like that for you, but I know what you mean ...

Moving on and mastering oneself as well as the method will certainly make all the difference in the world.
Regards.
  • #31,039
  • May 15, 2015 10:47am May 15, 2015 10:47am
Quoting joe12345
{quote} This is a great post. For the records! Guys and girls....Lets face up. Remove all the clutter that is in your mind and play this as Udine has advocated all along. A BUSINESS! Go back, read the first post. Dump everything else and treat it as "tools to help"! But DO NOT LOSE FOCUS. Do not just look at the top traders wins and think...Dang where was I? How could i have not? NOPE. Study the charts ALL THE TIME. Learn as opposed to Earn. I see a lot of traders taking trades left, right and center. Think about it...Would I invest with you ever?...

I know that forexfactory is not Facebook, but if it was, I would press...."like" to your post.
Trading is about making money, every time I open my trading platform I say to myself, "I want to make money, if I trade"
I am not trading huge lots, but I am trading real money. When we trade real money, all sorts of new things come into our head.
Revenge trading, who has not made this mistake? I certainly have.
Who has hit their target for the day, and then gone on to lose it, but getting greedy? I certainly have
I make these mistakes less often if I say to myself, when I am opening my trading platform "I want to make money, if I trade"
Demo trading is good to learn, how to use the platform, but once you have done that and you understand your system and you see that it can be profitable, open an account with real money, trade very small amounts until you prove to yourself that you can trade larger amounts.

Kudos to Udine!

PGPB
  • #31,040
  • May 15, 2015 11:40am May 15, 2015 11:40am
Quoting pgpb
{quote} I know that forexfactory is not Facebook, but if it was, I would press...."like" to your post. Trading is about making money, every time I open my trading platform I say to myself, "I want to make money, if I trade" I am not trading huge lots, but I am trading real money. When we trade real money, all sorts of new things come into our head. Revenge trading, who has not made this mistake? I certainly have. Who has hit their target for the day, and then gone on to lose it, but getting greedy? I certainly have I make these mistakes less often...
Thx pgpb. We forget why we are doing it...It is for our families. Our life. Means to the end. This is not the end. I had some issues with family...do I continue trading? Hell No. Are we emotionally OK to make that great decision. NO. Its like everything else in life.
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