Attachments: As simple as possible: 00 level trading

As simple as possible: 00 level trading

#32,241
Jul 9, 2015 1:34pm Jul 9, 2015 1:34pm

LuXing
Joined Jan 2015 | Status: Error 404: LuXing not found | 1,586 Posts

Quoting diallist

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{quote} LuXing!!! You are my hero of the day!

Ignored

Thanks Dial, wish you many green pips & time permitting - post a chart or 2

LuXing

Wisdom begins in wonder

#32,242
Jul 9, 2015 1:35pm Jul 9, 2015 1:35pm

LuXing
Joined Jan 2015 | Status: Error 404: LuXing not found | 1,586 Posts

Quoting Masterrmind

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{quote} Looks like you are well on your way ........... Nice trading indeed. Masterrmind............

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@MM
Honoured to see you here. Turbulent times, but I can´t complain.
How s your trade explorer plans coming along ?

LuXing

Wisdom begins in wonder

#32,243
Jul 9, 2015 1:38pm Jul 9, 2015 1:38pm

diallist
Joined Sep 2004 | Status: Trader | 1,464 Posts

Quoting grenell

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New to the thread, not new to trading, new to this type of trading however. Been reading a lot of pages and applying the rules and indicators over the last 3 weeks. Experimenting with the 'CURRENCY' meter top left of screen with the setting set to TRUE Reset every hour instead of FALSE (Daily reset). On 15 minute charts I find entry's on the 2nd-3rd candle as the LATEST data is starting to show the short term strength of the pair. The values can be very different to the Currency Strtength Giria (Daily strength)...One note, the chart shows the Daily...

Ignored

Hi grenell, and welcome to the thread. I see you've made 3 posts in 8.5 years. If you don't stop being such a motor mouth, the admins might ban you for using up so much of the forums resources!

If I might make a suggestion: keep only pair specific indicators on your pair charts, and move the CS meters to separate screens to reduce the clutter on your pair charts. For myself, I opened two charts on pairs that I will never trade, the EURNOK on which I place the smaller CS meters, and EURSEK on which I place the MADdash CSM. I find it easier to trade if I keep my pair charts as uncluttered as possible.

On both the EURNOK and EURSEK screens, under Properties, On the Colors tab I set all colors to black, and on the Common tab, I uncheck ALL the checkboxes. This gives a nice black screen, with candles in the background, on which to place the CSMs. Here are my two CSM charts:

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#32,244
Jul 9, 2015 1:39pm Jul 9, 2015 1:39pm

LuXing
Joined Jan 2015 | Status: Error 404: LuXing not found | 1,586 Posts

Quoting sEit89

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Bon dia, Any comments please? {image}

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Tell me what the 3 M15 candles before London Open were telling you ?

LuXing

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Wisdom begins in wonder

#32,245
Jul 9, 2015 2:13pm Jul 9, 2015 2:13pm

sEit89
| Joined Oct 2014 | Status: Trader | 325 Posts

Quoting LuXing

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{quote} Tell me what the 3 M15 candles before London Open were telling you ? LuXing {image}

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Hola amigo LuXing,

I don't trade M15 or M30 timeframes, only Udine's simple H1 method as he used in the beginning of this thread, but probably it could be a retrace, Frankfurt open is very difficult to trade and very unexpected.

Here another examples from tomorrow morning on GBP/JPY at the same periods, trading the H1 system. What is your opinion?

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#32,246
Jul 9, 2015 2:15pm Jul 9, 2015 2:15pm

sEit89
| Joined Oct 2014 | Status: Trader | 325 Posts

Here with the H1 system point of view.

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#32,247
Jul 9, 2015 5:04pm Jul 9, 2015 5:04pm

Asmodai
| Joined Oct 2014 | Status: Trader | 400 Posts

Quoting diallist

Disliked

{quote} Hi grenell, and welcome to the thread. I see you've made 3 posts in 8.5 years. If you don't stop being such a motor mouth, the admins might ban you for using up so much of the forums resources! If I might make a suggestion: keep only pair specific indicators on your pair charts, and move the CS meters to separate screens to reduce the clutter on your pair charts. For myself, I opened two charts on pairs that I will never trade, the EURNOK on which I place the smaller CS meters, and EURSEK on which I place the MADdash CSM. I find it...

Ignored

Thats almost exactly the same setup i have. Keeps the charts clean.

Asmodai

#32,248
Jul 9, 2015 8:30pm Jul 9, 2015 8:30pm

bapakjason
| Joined Apr 2014 | Status: Trader | 1,900 Posts

Quoting Pipglutton

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{quote} Hi Jason. Could you please let me know what the indy in the top right hand corner is as well as the top right hand corner? Looks VERY interesting.

Ignored

Look at my chart in post 32,151. Weekly, daily, 4hr,1hr bid ratio all over 95. The 15 min was too while I was in the trade. This means price was just pushing its trend bias. This indi is bid ratio by sm jones. You can find a couple versions in attachments of this thread. I figure, what are the odds that I just placed a trade without 3.5 pips being left in the direction bias of the week, day, 4hr, and 1hr candles? I just need 3.5 pips to get to BE. But if the pair is going to move around 100 or more pips, then surely I have not chosen the very last 3.5 pips? Haha. If this lines up with your CSM's, it's a higher probability trade. This is indi in top right (not the simple ADR indi that's above it). Hope this helps. -Jason

#32,249
Jul 9, 2015 9:30pm Jul 9, 2015 9:30pm

grenell
| Joined Jan 2007 | Status: Trader | 96 Posts

Quoting diallist

Disliked

{quote} Hi grenell, and welcome to the thread. I see you've made 3 posts in 8.5 years. If you don't stop being such a motor mouth, the admins might ban you for using up so much of the forums resources! If I might make a suggestion: keep only pair specific indicators on your pair charts, and move the CS meters to separate screens to reduce the clutter on your pair charts. For myself, I opened two charts on pairs that I will never trade, the EURNOK on which I place the smaller CS meters, and EURSEK on which I place the MADdash CSM. I find it...

Ignored

Haha...yes just used FF for the news for many years. Never even looked at the forum. Been involved with other small groups and systems. Thanks for your input re setting up the charts. Yes the charts can get overloaded when experimenting with all kinds of ind's. Information overload! Just in case someone wonders why I use different colours on the ind's...I'm colour blind, just like 25% of the male population!...reds and greens just confuse the heck out of me, cant tell one from the other sometimes, especially when trying to make quick decisions. Again thanks for your input and all the other people posting, especially Udine for starting the thread...sure is the cheapest education I've ever had in Forex, really love the thread...spent hours and a few weeks sifting through the posts just to get to the kindergarten stage. The penny is starting to drop and the rebound is not bouncing up so high.
Cheers
Rod

#32,250
Edited Jul 10, 2015 12:17am Jul 9, 2015 9:52pm | Edited Jul 10, 2015 12:17am

grenell
| Joined Jan 2007 | Status: Trader | 96 Posts

Quoting gizmo40

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Genell Interesting twist to the templates I have seen. Would it be possible to share? {quote}

Ignored

Hi Gizmo40...not sure if my template would be the best to follow as I'm experimenting with different indicators all the time. I just keep going back to the basics of Udine's system but the adventurer in me just has to keep looking for an "edge" that will help my entry, that's what an adventurer loves to do. Have a look at the post by Diallist to me, post 32215. That is very good information on some alternatives/additions to Udine's original system and what I am experimenting with in my template.
Please do not rely on my template as I am a novice in using this system, whilst I have traded for a few years using many systems the reason I am here on this thread is to learn because the markets are dynamic and keep on changing their behaviour. Education is everything. I will attach my template as I know how hard it is to find some of the indicators that people post...but be warned...the template deviates from Udine's substantially.
Cheers
Rod

Attached File(s)

!!!00_level_M15_Currency Meter Hrly.tpl 234 KB | 442 downloads

#32,251
Jul 9, 2015 9:53pm Jul 9, 2015 9:53pm

bapakjason
| Joined Apr 2014 | Status: Trader | 1,900 Posts

Quoting Pipglutton

Disliked

{quote} Hi Jason. Could you please let me know what the indy in the top right hand corner is as well as the top right hand corner? Looks VERY interesting.

Ignored

this trade can serve as an illustration of what i mean (explanation in previous response):
as you can see, the odds were stacked in my favor.

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#32,252
Jul 9, 2015 10:22pm Jul 9, 2015 10:22pm

VinceHS
| Joined Apr 2015 | Status: Trader | 92 Posts

Quoting sEit89

Disliked

{quote} Hola amigo LuXing, I don't trade M15 or M30 timeframes, only Udine's simple H1 method as he used in the beginning of this thread, What is your opinion? {image}

Ignored

Hi sEit89,
I think you are falling into the same problem I had when I started with this thread a few months ago. As a newbie, I blindly followed Udine's H1 entry method thinking that every entry should be able to get me to TP=5. As a result, my demo account went down by -40% rather quickly. There are other things that Udine and other successful traders on this forum can see from price action that I wasn't seeing like Strength, Sync, Momentum...etc.

My advice to all newbies who wants to follow Udine's system is to:
1. Read all of Udine's posts so that you get a good understanding of the basics.

2. Read and download all of fxrabbi's posts and charts. He has been extremely kind and patient in posting and explaining all his trades and he has the patience of a Saint in waiting for the perfect trade to come to him. After concentrating on just his trades for a month, things started finally to fall into place. I finally understood what real patience is and also Udine's "You look for reasons NOT to take the trade". I'm slowly working my way back from the -40% and have been green for the past 3 weeks. Will try to double the demo account like everyone recommended before going live.

3. Find a system that matches your personality. There are a lot of good traders who posted or are posting their trades with great explanations. After fully understanding how Udine's system work thru fxrabbi's trades, look through the other good traders' trades and tweek their methods to suit your trading personality. I myself am using fxrabbi's entries but on a M15 timeframe since I'm only going for TP=5 not 20 like him. Some traders charts that I find extremely educational are: MasterrMind, LuXing, Dialist's two or three miserly charts (just kidding Dialist haha....I am using your ASH idea to get a clearer picture of whether price might want to continue...thank you)....etc.

Hope this helps you on your way to green pips too.

And thank you Udine, fxrabbi and other traders for helping us along. Cannot thank you guys enough.

Do good and disappear...

#32,253
Jul 9, 2015 10:32pm Jul 9, 2015 10:32pm

mkfx
| Joined Nov 2012 | Status: Trader | 815 Posts

Quoting nasap

Disliked

{quote} Imho strength meter can not be back tested, it will always show strength of up to date data / price. nasap

Ignored

Thanks NASAP,

We all know you are the expert in Excel and mt4 and their link (data download and upload ).

Since we cannot find CSM history data. but we have an indicator Is there any way we can take data from this indicator (what is shows on screen mt4) to fill in excel or to accumulate in text file at a fixed interval. let say start from 00.28 hrs and after that every 30 minutes. or every five minutes as forward testing once we have data of a week than I can do back testing.

Thanks

MK

#32,254
Jul 10, 2015 12:46am Jul 10, 2015 12:46am