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As simple as possible: 00 level trading

  • #31,821
  • Jun 18, 2015 3:28am Jun 18, 2015 3:28am
Good morning All.

M30 Level 1 Entry on EURUSD.

TP = +20PIPS.

Trade Ideas:

1. Typical M30 Level 1 Entry.
2. Sync in pairs.
3. Strength.
4. Momentum.
5. Volume.

Cheers,
Yomi.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM30.png Size: 62 KB
Time always comes before price
  • #31,822
  • Jun 18, 2015 3:33am Jun 18, 2015 3:33am
Quoting mkfx
{quote} Thanks Fxrabbi Very clear explanation of your entry setups. Just one small clarification if you can explain with example or on your chart how do you define " Level 1 Entries". I know some where in the thread explained but I am confused about that . So please can you give some details on level 1 .. Thanks for your help to all newcomers.. MKFX
You may refer to post 31,823 for a better clarification of M30 Level 1 Entry.

Thank you,
Yomi
Time always comes before price
  • #31,823
  • Jun 18, 2015 3:53am Jun 18, 2015 3:53am
Quoting fxrabbi
{quote} What you need to succeed: 1. Level 1 Entries. 2. The 4 Core pairs. 3. The PDF & BCC. The above are all we need to succeed. The Strength, Sync in pairs, Volume, and Momentum are just the key to success, they are just pointer to low risk and high probability trades and they validate a setup. please take note. 1. MOMENTUM: I use 5ema to see momentum (5ema, shift 2). Whenever the ema cross any candle, momentum always follow the next candle after the closed cross candle. instead of using the normal moving average, I use indicator that will show...
morning bro, hope your doing well. A quick question for you. This Price MA BREAKOUT indicator, when does the signal arrow appear? is it before or after a candle closes and does it repaint?
  • #31,824
  • Edited 4:21am Jun 18, 2015 3:59am | Edited 4:21am
Quoting Emmpoli
{quote} morning bro, hope your doing well. A quick question for you. This Price MA BREAKOUT indicator, when does the signal arrow appear? is it before or after a candle closes and does it repaint?

Its doesn't repaint, its only appear any time 5ema has crossed a candle and closed. You may use the normal moving average from your mt4 and see for yourself (infact the normal moving average from mt4 is even better, I only don't use it because I want a cleaner charts).

NB: during ranging period you see many arrows, that will tell you that the market is ranging and stay away.

Thank you,
Yomi
Time always comes before price
  • #31,825
  • Jun 18, 2015 4:10am Jun 18, 2015 4:10am
Quoting fxrabbi
{quote} Its doesn't repaint, its only appear any time 5ema has crossed a candle and closed. You may use the normal moving average from your mt4 and see for yourself. NB: during ranging period you see many arrows, that will tell you that the market is ranging and stay away. Thank you, Yomi
is it applied to the close or open or typical price hlc/3 which?
  • #31,826
  • Jun 18, 2015 4:12am Jun 18, 2015 4:12am
Please All.

00 Level Trading (aka M30 Level 1 Entry) is the Structure, while Sync in pairs, Strength, Momentum, Volume, etc etc are just an Edge. please note.

Cheers,
Yomi
Time always comes before price
  • #31,827
  • Jun 18, 2015 4:17am Jun 18, 2015 4:17am
Quoting Emmpoli
{quote} is it applied to the close or open or typical price hlc/3 which?
close
Time always comes before price
  • #31,828
  • Jun 18, 2015 4:29am Jun 18, 2015 4:29am
Quoting fxrabbi
{quote} You may refer to post 31,823 for a better clarification of M30 Level 1 Entry. Thank you, Yomi

Thanks Fxrabbi.
  • #31,829
  • Jun 18, 2015 4:59am Jun 18, 2015 4:59am
Quoting fxrabbi
Good morning All. M30 Level 1 Entry on EURUSD. TP = +20PIPS. Trade Ideas: 1. Typical M30 Level 1 Entry. 2. Sync in pairs. 3. Strength. 4. Momentum. 5. Volume. Cheers, Yomi. {image}
Nice and profitable.

However, I would advise against this when trading on a (big) live account.
CHF Red News.
The last time those SNB gentlemen announced something related to monetary policy, thousands of trading accounts were wiped out in a blink of the eye, half a dozen brokers went bankrupt, etc. etc.

Volume: a part from price, retail brokers systematically manipulate 2 things, volume and ticks.
Unless you have access to order book and/or level 2 data (not available on the Metatrader platform), there is - unfortunately - no reliable conclusion to be had from these data.

Just my 2 cents

LuXing
Wisdom begins in wonder
  • #31,830
  • Jun 18, 2015 5:03am Jun 18, 2015 5:03am
Quoting fxrabbi
I will attach the indicator with this post. I only use it to validate setup. The volume is the tick from your Broker, so when the MM's are loading/filling their trade, you will know, so when it line up with our M30 level 1 entry, I m always happy to take the trade, so study my chart on this too, and keep watching my post. Hope this helps. Cheers, Yomi
With this two indicators you've completed the puzzle! Signals showing up very accurate (I've checked with my own signals coming from dashboard). This being said it's very important to look for pairs are sync otherwise it will become like playing the lottery!
Attached Image (click to enlarge)
Click to Enlarge Name: Ashampoo_Snap_2015.06.18_13h59m45s_019_.png Size: 90 KB

If people still cannot profit from this system then they are basically doing something wrong!

Good luck and many green pips to all of you.

nasap
The little nut in your head is called brain. Use it!
  • #31,831
  • Edited 6:23am Jun 18, 2015 5:21am | Edited 6:23am
Quoting LuXing
{quote} Nice and profitable. However, I would advise against this when trading on a (big) live account. CHF Red News. The last time those SNB gentlemen announced something related to monetary policy, thousands of trading accounts were wiped out in a blink of the eye, half a dozen brokers went bankrupt, etc. etc. Volume: a part from price, retail brokers systematically manipulate 2 things, volume and ticks. Unless you have access to order book and/or level 2 data (not available on the Metatrader platform), there is - unfortunately - no reliable conclusion...
Cool, It doesn't come to that, because SL is involve. Morerover These MMs will decide what they are going to do (volume) and then we can proceed with them. This makes trading easier and more profitable. Nothing is certain, anything can happen, so we need to accommodate that uncertaintly through a consistent money management plan. I was made to understand that market prices are not determined by the Buyers and Sellers. They are determined by the Robber Bank Market Makers (aka MMs).

NB: The Volume (Broker ticks) is just a see-through device, nothing more. I hope you get my point.

Cheers,
Yomi
Time always comes before price
  • #31,832
  • Edited 5:54am Jun 18, 2015 5:33am | Edited 5:54am
Quoting nasap
{quote} With this two indicators you've completed the puzzle! Signals showing up very accurate (I've checked with my own signals coming from dashboard). This being said it's very important to look for pairs are sync otherwise it will become like playing the lottery! {image} If people still cannot profit from this system then they are basically doing something wrong! Good luck and many green pips to all of you. nasap
Thank you Madam, you have really show us why you are a genius and sought-after, God bless you.

Cheers,
Yomi.

See attached chart from nasap:

Look at how the two indicators line up with her signal dashboard.
Attached Image (click to enlarge)
Click to Enlarge Name: Ashampoo_Snap_2015.06.18_13h59m45s_019_.png Size: 128 KB
Time always comes before price
  • #31,833
  • Jun 18, 2015 6:29am Jun 18, 2015 6:29am
Trade #1 o/t day: EURUSD to TP

LuXing
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 59 KB
Wisdom begins in wonder
  • #31,834
  • Jun 18, 2015 6:51am Jun 18, 2015 6:51am
Quoting nasap
{quote} With this two indicators you've completed the puzzle! Signals showing up very accurate (I've checked with my own signals coming from dashboard). This being said it's very important to look for pairs are sync otherwise it will become like playing the lottery! {image} If people still cannot profit from this system then they are basically doing something wrong! Good luck and many green pips to all of you. nasap

hey guys: do you guys take both ej and eu trades when they are moving together or only one or the other?
  • #31,835
  • Jun 18, 2015 7:57am Jun 18, 2015 7:57am
Quoting jmmac
Hi, I'm trying to learn the MQL language and my first attempt was to update the "giraia" indicator (currency strength) since only the ex4 file works. The results seem to be equal to the ex4 that is used around here but please check since this is my first attempt at coding this language. There are two versions. One uses 25 pairs and the other 28 pairs. This is because the ex4 version uses only 25 pairs... So I made an equivalent version and another with all 28 pairs and which gives slightly different values. I give absolutely no guaranties about...
A small bug correction...
Jaime
Attached File(s)
File Type: mq4 Currency_Strength_Giraia_25_pairs.mq4   19 KB | 436 downloads
File Type: mq4 Currency_Strength_Giraia_28_pairs.mq4   19 KB | 612 downloads
  • #31,836
  • Jun 18, 2015 8:44am Jun 18, 2015 8:44am
Quoting fxrabbi
{quote} Cool, It doesn't come to that, because SL is involve. Morerover These MMs will decide what they are going to do (volume) and then we can proceed with them. This makes trading easier and more profitable. Nothing is certain, anything can happen, so we need to accommodate that uncertaintly through a consistent money management plan. I was made to understand that market prices are not determined by the Buyers and Sellers. They are determined by the Robber Bank Market Makers (aka MMs). NB: The Volume (Broker ticks) is just a see-through device,...
Yomi, thanks for your contribution!

Regarding stop losses, they are never guaranteed. They are introduced in the market when the price trigger is met. Now, if the market jumps suddenly, the stop order may be introduced in the market but, since the market has already moved far away from your order price, there is no one on the other side to take your order and it won't be filled or will be filled at a terrible price. This is most true for ECN brokers.

For market maker brokers, they could theoretically guarantee your SL is met (not sure that ever happens), but even in that case, if the real market moves too fast (banks), the broker can go bust (like it happen this year).

In conclusion, nothing is guaranteed and one must understand that and manage the risks. Since the central bank of Switzerland has given ugly surprises in the past, trading the CHF increases the risk of bankruptcy, especially with the high leverages used in scalping...

One possible strategy for live trading is to have an account just for CHF trades, preferably with a broker that won't go after us if our account goes negative in consequence of a large sudden move. The same can be made for the other currencies, have many that just trade a few pairs. That way, if one account goes bust, the damage may be contained and we may survive such a catastrophic event of a currency moving 10% or 20% in seconds.

Jaime
  • #31,837
  • Jun 18, 2015 9:22am Jun 18, 2015 9:22am
Quoting jmmac
{quote} Yomi, thanks for your contribution! Regarding stop losses, they are never guaranteed. They are introduced in the market when the price trigger is met. Now, if the market jumps suddenly, the stop order may be introduced in the market but, since the market has already moved far away from your order price, there is no one on the other side to take your order and it won't be filled or will be filled at a terrible price. This is most true for ECN brokers. For market maker brokers, they could theoretically guarantee your SL is met (not sure that...
Wise words
Thanks for writing this, I wanted to say the same thing but you have done it much better than I could
The one thing that bears repeating is your SL means nothing if something big happens.


PGPB
  • #31,838
  • Jun 18, 2015 9:39am Jun 18, 2015 9:39am
Quoting dagoods
{quote} hey guys: do you guys take both ej and eu trades when they are moving together or only one or the other?
Dagoods, in case you have not read the whole thread.... Udine shoots ALL 4 at the same time if he sees it right ! All because he knows those pairs through.

Me as a trader, trade as well only 4 pairs, although, different and different approach and timeframe. Got lot of information from this thread, but one is common.

One needs to know instruments he/she trades deeply. How they behave ( when there is direction change) , at what time in day ( yes, time of day is very important for particular pairs), how far they go (ADR) and so on...:nerd:
  • #31,839
  • Jun 18, 2015 9:43am Jun 18, 2015 9:43am
EURJPY to TP.

LuXing
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 63 KB
Wisdom begins in wonder
  • #31,840
  • Edited 12:28am Jun 19, 2015 12:06am | Edited 12:28am
Here's my results for the last three weeks. Week one was pure hell. Week two was somewhat easier. Week three was easiest yet. I hope it continues to get easier with practice so I can reach the Udine state of stress-free and knowing I'm going to make money today.

The difference between easy and hard for me is following my rules, and the one rule that has required the most discipline is to STOP TRADING when the last trade hits or exceeds the daily target. Because my account opened especially for this method is still small, I'm risking 4% per trade and stopping trading after an 8% loss, or a 3%+ gain. 8% is set in concrete, but my daily win goal is 3% or more if the momentum is there to squeeze out a few extra pips.

This week, I've also started focusing more heavily on making sure the pairs of pairs are in sync. Last week I mentioned that I was watching all 28 pairs and taking whichever one was 1x8 at the time of the M30 signal. But starting this week, I've reduced my pair set to 8 GJ-GU, EJ-EU, AJ-AU, and NJ-NU. I only use the AUD and NZD pairs during Asian session, and then only if there is a strong and clear setup. Otherwise, I'm using Udine's four pairs during London/New York sessions.

To see if the pairs are in sync, I use the PsyLevels Dashboard, as well as looking at the recent candle pattern for each partner in the pair to see if they are moving in sync. For momentum, I look at the Giraia CSM to find which of my allowable pairs has the greatest strength. I also look at Bid Ratio to see if it is near 100% or near 0%. I only learned the term Bid Ratio recently, but I've been aware of the effect for years. I just called it

"Flat Top/Bottom Candles Have A Greater Chance To Keep Moving In The Same Direction".

A highly technical name, as you can see! LOL

I only take one trade at a time. As soon as the pending order is placed, I'll drag the target out of the way by 15 or more pips. When the trade triggers, I sit with my finger on the mouse, ready to close the trade quickly. Once 5 pips is hit I watch to see if momentum will carry me through to a few more pips. I usually get 10 pips, but sometimes more and sometimes less. Once the 5 pips is hit, and price happens to fall back to the entry, I exit the trade. If 5 pips is never hit, I'll let it run all the way to the stop.

I'm open to constructive criticism of my approach if anyone wants to comment.

Thanks.
Attached Image
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