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As simple as possible: 00 level trading

  • #32,641
  • Aug 3, 2015 11:34pm Aug 3, 2015 11:34pm
Quoting allhappy
{quote} Hi MM, I'm amazed that how could you hold on the trade which has pull back quite deeply? Could you educate on us which is the holding factor that the trade will go in your favor? This will benefit for all the beginners like me. Appreciate and thanks Be Happy
what do you mean on the "pullback quite deeply"?
if - and I think this is the case - Masterrmind uses the suggested 10 pips SL, that deep pullback is about 8 pips, well within the system. even if in slow times it seem to be more visually.
there is always, always another trade!!
  • #32,642
  • Aug 4, 2015 12:09am Aug 4, 2015 12:09am
Quoting allhappy
{quote} Hi MM, I'm amazed that how could you hold on the trade which has pull back quite deeply? Could you educate on us which is the holding factor that the trade will go in your favor? This will benefit for all the beginners like me. Appreciate and thanks Be Happy
Hi allhappy,

Hope the chart helps you!

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 36 KB


Note that by understanding that PA usually attempts a re-test of a pivot point it was highly feasible in live trading (not just in hindsight) to wait for a better entry to short the aussie down.

Patience would have provided a better opportunity here with far less DD!

It includes only some of the things I consider when making a trade but its a start.

Good trading,

Masterrmind...........
Master your Mind then Master your Trades
  • #32,643
  • Aug 4, 2015 12:22am Aug 4, 2015 12:22am
EURJPY [M5 Chart] +5 TP

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 46 KB


Masterrmind...........
Master your Mind then Master your Trades
  • #32,644
  • Aug 4, 2015 1:15am Aug 4, 2015 1:15am
GBPJPY +5
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM15-03-08-15.png Size: 25 KB
  • #32,645
  • Aug 4, 2015 5:19am Aug 4, 2015 5:19am
GBPUSD +5
GBPUSD -10 (shouldn't be playing around DO)
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15-04-08-15.png Size: 24 KB
  • #32,646
  • Aug 4, 2015 6:40am Aug 4, 2015 6:40am
EURJPY +5
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM15-04-08-15.png Size: 25 KB
  • #32,647
  • Aug 4, 2015 8:53am Aug 4, 2015 8:53am
EURJPY [M5 Chart] +5 TP

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 43 KB


Masterrmind.........
Master your Mind then Master your Trades
  • #32,648
  • Aug 4, 2015 9:13am Aug 4, 2015 9:13am
EURJPY [M5 Chart]+5 TP

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 49 KB


Masterrmind..........
Master your Mind then Master your Trades
  • #32,649
  • Aug 4, 2015 3:57pm Aug 4, 2015 3:57pm
Does anybody know the name of this indicator? It displays the number of pips since the entry.

Thanks in advance.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 67 KB
  • #32,650
  • Aug 4, 2015 7:38pm Aug 4, 2015 7:38pm
I use this one and really like it.
Attached File(s)
File Type: mq4 2nd Job Pipsometer.mq4   5 KB | 457 downloads
  • #32,651
  • Aug 4, 2015 8:43pm Aug 4, 2015 8:43pm
Tokyo Open

AUDUSD [M5 Chart] +9 pips

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 43 KB


Masterrmind..........
Master your Mind then Master your Trades
  • #32,652
  • Aug 4, 2015 9:51pm Aug 4, 2015 9:51pm
Quoting Masterrmind
{quote} Hi allhappy, Hope the chart helps you! {image} Note that by understanding that PA usually attempts a re-test of a pivot point it was highly feasible in live trading (not just in hindsight) to wait for a better entry to short the aussie down. Patience would have provided a better opportunity here with far less DD! It includes only some of the things I consider when making a trade but its a start. Good trading, Masterrmind...........
Hi MM,
Thanks for your explanation.
Be Happy
  • #32,653
  • Aug 4, 2015 10:10pm Aug 4, 2015 10:10pm
Quoting allhappy
{quote} Hi MM, Thanks for your explanation. Be Happy
No trouble at all!

Masterrmind..........
Master your Mind then Master your Trades
  • #32,654
  • Edited 11:38pm Aug 4, 2015 11:10pm | Edited 11:38pm
Quoting Masterrmind
Tokyo Open AUDUSD [M5 Chart] +9 pips {image} Masterrmind..........
A nice one Master ! It seems we both drifted to 5 min TF. For me it is like reading the "tape".

GU was nice too... (after an "animal" at DO and then break of DO line.)
  • #32,655
  • Aug 5, 2015 12:39am Aug 5, 2015 12:39am
Quoting snail69
{quote} A nice one Master ! It seems we both drifted to 5 min TF. For me it is like reading the "tape". GU was nice too... (after an "animal" at DO and then break of DO line.)
Hi Snail69,

Fact is I've always used multiple TF's but only posted M15 for simplicity and less confusion to others.

However, when the market is moving slower I enjoy the M5 and on occasion the M1 to give me a little more information.

Tape reading..... that takes me right back to the old days.

Hope you have a great trading day/week/month and year.

Good trading,

Masterrmind............
Master your Mind then Master your Trades
  • #32,656
  • Aug 5, 2015 12:46am Aug 5, 2015 12:46am
Quoting gizmo40
I use this one and really like it. {file}
Thank you.
  • #32,657
  • Aug 5, 2015 2:49am Aug 5, 2015 2:49am
Good morning

GBPJPY to TP
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM15-05-08-15.png Size: 23 KB

EURUSD to TP (Just realize first level was the 70. lucky on this one)
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM15-05-08-15.png Size: 23 KB
  • #32,658
  • Aug 5, 2015 5:41am Aug 5, 2015 5:41am
GBPUSD to TP
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15-05-08-15.png Size: 22 KB
  • #32,659
  • Aug 5, 2015 7:26am Aug 5, 2015 7:26am
GBPUSD to S TP +6.2pips.


Cheers,
Yomi.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM30.png Size: 55 KB
Time always comes before price
  • #32,660
  • Aug 5, 2015 8:28pm Aug 5, 2015 8:28pm
Tokyo Open

EURJPY [M5 Chart] +5 TP

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 45 KB


Masterrmind...........
Master your Mind then Master your Trades
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