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As simple as possible: 00 level trading

  • #31,841
  • Jun 19, 2015 12:12am Jun 19, 2015 12:12am
How do I attach an image so it can be "click to enlarge"? I notice the image in my last posts isn't enlargeable.
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #31,842
  • Jun 19, 2015 12:40am Jun 19, 2015 12:40am
Here's a more useful table. I've scaled my actual account balance to show what each $1000 in my account does on each day.

Dial
Attached Image
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #31,843
  • Jun 19, 2015 1:44am Jun 19, 2015 1:44am
Quoting diallist
Here's my results for the last three weeks. Week one was pure hell. Week two was somewhat easier. Week three was easiest yet...
diallist, no single losing day in three weeks!! That's awesome trading! well done.
Week one was hell you said, but why? since every day was a winner?
Persistence will get it. Consistency will keep it.
  • #31,844
  • Jun 19, 2015 1:47am Jun 19, 2015 1:47am
I'm with Chake 100%+ in three weeks congrats and just remember its only going to come faster as account balance grows. Again congrats on progress!
  • #31,845
  • Jun 19, 2015 1:51am Jun 19, 2015 1:51am
Quoting diallist
Here's a more useful table. I've scaled my actual account balance to show what each $1000 in my account does on each day. Dial {image}
Great results diallist.

The part of stopping after the daily target is reached is also one of my greatest struggles. And i find that for me right now it doesnt work very well because of the limited time i have to trade. Many times i take risky trades to recover a loss or to get to target.

At the time i have a new approach, i have set a time to start trading and a time to stop, independent of losing or winning. The opportunities are there if your -10% or +10% for the day.

For me it work better for now, one step closer to stress-free.

Asmodai
  • #31,846
  • Jun 19, 2015 2:03am Jun 19, 2015 2:03am
diallist, with the reply off Asmodai above a question comes up, i hope you don't mind me asking but how many hours a day are you in front off the screen?
Persistence will get it. Consistency will keep it.
  • #31,847
  • Jun 19, 2015 2:12am Jun 19, 2015 2:12am
Quoting Chake
diallist, with the reply off Asmodai above a question comes up, i hope you don't mind me asking but how many hours a day are you in front off the screen?
For me right now, i trade from LO to LO+3. If i have the day off from work, i trade until LO close.
If i want i can get up a bit earlier and trade FF too, but FF sometimes scares me

Asmodai
  • #31,848
  • Jun 19, 2015 2:23am Jun 19, 2015 2:23am
Quoting Asmodai
{quote} For me right now, i trade from LO to LO+3. If i have the day off from work, i trade until LO close. If i want i can get up a bit earlier and trade FF too, but FF sometimes scares me Asmodai
Exactly the same story for me Asmodai
Persistence will get it. Consistency will keep it.
  • #31,849
  • Jun 19, 2015 3:25am Jun 19, 2015 3:25am
hello,
2 trades for the day, both EU, done for the day
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDbM15.png Size: 58 KB
  • #31,850
  • Jun 19, 2015 3:47am Jun 19, 2015 3:47am
EURUSD = +10pips.
EURJPY = +10pips.

Trade Ideas:

1. Sync in pairs.
2. Strength.
3. Volume.

Cheers,
Yomi
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSDM30.png Size: 57 KB
Click to Enlarge Name: EURJPYM30.png Size: 59 KB
Time always comes before price
  • #31,851
  • Jun 19, 2015 4:08am Jun 19, 2015 4:08am
Quoting fxrabbi
EURUSD = +10pips. EURJPY = +10pips. Trade Ideas: 1. Sync in pairs. 2. Strength. 3. Volume. Cheers, Yomi {image} {image}
Hi yomi,

you don´t look for Resistance/support areas and 10/90 trades??

Greetz Michael
  • #31,852
  • Jun 19, 2015 4:16am Jun 19, 2015 4:16am
Quoting mwsteiner
{quote} Hi yomi, you dont look for Resistance/support areas and 10/90 trades?? Greetz Michael

I look at those S+R and the .100/.900 rules, I just need those free 10...10pips with small/reduce lots.

Thank you,

Yomi
Time always comes before price
  • #31,853
  • Jun 19, 2015 4:30am Jun 19, 2015 4:30am
Quoting Chake
{quote} diallist, no single losing day in three weeks!! That's awesome trading! well done. Week one was hell you said, but why? since every day was a winner?
The first week I tried to ignore my rule to stop trading if the last trade hit -8%. I succeeded very well at ignoring that rule. Combine that with jumping in too early, before the setup was firmly established (I "KNOW" which way this sucker is going! I really do!!) resulted in a draw down of -18% on Monday, -13% on Tuesday and a whopping -24% on Wednesday. But, on each day, I found entries that recovered the losses and ended up making a good profit those three days. This type of trading has a special word for it. Now what was that word? Oh yes! IDIOTIC!!! On each of those three days, there were good strong entries that saved my worthless butt. Wouldn't it have been better if I had just waited for those entries to appear and taken them? Lesson learned, I traded with more sanity on Thursday and Friday of that first week.

Lessons learned:

1. If you think you "know" for certain which way price is going, you are LYING to yourself. Trading that lie, is imbecilic.

2. Not obeying your daily loss limit is really, truly and absolutely stupid. If I had just taken the loss and quit trading, I would have only to dig myself out of a -8% hole which is far easier than digging out of a -18%, -13% or -24% hole.

3. STOP TRADING after gaining the daily target. Anything beyond that is greed, and the market is very adept at punishing greed.

During week 2, I followed these lessons more closely, though not perfectly.

During week 3, I followed these lessons perfectly. That made it the easiest week of all.

The market gives away more money by the thimble full than by the bucket full.

Dial
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #31,854
  • Jun 19, 2015 4:32am Jun 19, 2015 4:32am
Quoting Asmodai
{quote} Great results diallist. The part of stopping after the daily target is reached is also one of my greatest struggles. And i find that for me right now it doesnt work very well because of the limited time i have to trade. Many times i take risky trades to recover a loss or to get to target. At the time i have a new approach, i have set a time to start trading and a time to stop, independent of losing or winning. The opportunities are there if your -10% or +10% for the day. For me it work better for now, one step closer to stress-free. Asmodai...
I hear ya mate, and cheer you as well! Sounds like you are honing a winning mindset. Keep it up!
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #31,855
  • Jun 19, 2015 4:37am Jun 19, 2015 4:37am
Quoting Chake
diallist, with the reply off Asmodai above a question comes up, i hope you don't mind me asking but how many hours a day are you in front off the screen?
Week 1 about 5 hours each day. Week 2 about 3. Week 3 about an hour each day. The secret for me was finally getting my head around what the heck was meant by synced pairs (uber powerful) and gaining a better understanding of the Giraia CSM and the wavy line version of ASH. Those together helped me make precision entries that only moved a tiny amount against me before going to target. Precise entries means less screen time, which is great for me.
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #31,856
  • Jun 19, 2015 4:39am Jun 19, 2015 4:39am
Quoting fxrabbi
EURUSD = +10pips. EURJPY = +10pips. Trade Ideas: 1. Sync in pairs. 2. Strength. 3. Volume. Cheers, Yomi {image} {image}
Hi Yomi

thanks for all your posts your doing a really good job as you will know but sharing is very helpful to newbie's trying to learn.
Also a huge thank you to Udine for sharing his trading style and setup.

I now have my charts setup as yours and I'm ready to start trading with a small account!

Please can I ask you 2 questions?
1. Do you use a stop loss greater than 10 pips as your E/J trade looks as if it might be slightly more than 10 pips?
2. Will you share a losing trade or is it possible that nearly all your trades are winners?

thanks for sharing

TM
  • #31,857
  • Jun 19, 2015 4:50am Jun 19, 2015 4:50am
Quoting diallist
{quote} Week 1 about 5 hours each day. Week 2 about 3. Week 3 about an hour each day. The secret for me was finally getting my head around what the heck was meant by synced pairs (uber powerful) and gaining a better understanding of the Giraia CSM and the wavy line version of ASH. Those together helped me make precision entries that only moved a tiny amount against me before going to target. Precise entries means less screen time, which is great for me.
Perfect! thanks.
Persistence will get it. Consistency will keep it.
  • #31,858
  • Jun 19, 2015 5:08am Jun 19, 2015 5:08am
Buenos días,

Due to technical problems, I missed all the fun at London Open.

Trade #1 o/t day: EURUSD to TP.

LuXing
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 59 KB
Wisdom begins in wonder
  • #31,859
  • Jun 19, 2015 5:15am Jun 19, 2015 5:15am
Quoting diallist
{quote} Week 1 about 5 hours each day. Week 2 about 3. Week 3 about an hour each day. The secret for me was finally getting my head around what the heck was meant by synced pairs (uber powerful) and gaining a better understanding of the Giraia CSM and the wavy line version of ASH. Those together helped me make precision entries that only moved a tiny amount against me before going to target. Precise entries means less screen time, which is great for me.
May you can post some screenshots from your trades?

How you identify the correlation? psylevl, excel correlation sheet, patterns, indicator?
What you mean with "gaining a better understanding of the Giraia CSM and the wavy line version of ASH"? May you can explain this a little bit?

For me my BIGGEST fault is also don´t stop after the daily target!! as i trade with a small small account iam not satisfied with e.g. 10€ gain but i have to do that and when iám consistant i can trade with more capital!

Thanks and green pips

Michael
  • #31,860
  • Jun 19, 2015 5:59am Jun 19, 2015 5:59am
Quoting diallist
{quote} I hear ya mate, and cheer you as well! Sounds like you are honing a winning mindset. Keep it up!
Hi Dial,

Thanks for sharing your knowledge and experience with us. Especially, your last 3 posts have some great lessons in them.

I am also trying to improve my knowledge and use of currency strength and correlation as I hope it will make a significant difference to my trading. I am already seeing improvements but not sure if its more due to pure luck as I still don't really know how to read and use the CSM and correlation indi's. Any of your (or anybody else) further insights into this will be greatly appreciated

Regards
Mor
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