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As simple as possible: 00 level trading

  • #32,661
  • Aug 5, 2015 11:28pm Aug 5, 2015 11:28pm
EURUSD [M5 Chart] +5 TP

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Masterrmind..........
Master your Mind then Master your Trades
  • #32,662
  • Aug 6, 2015 4:48am Aug 6, 2015 4:48am
I see different indicators and different timeframe then the 1st post, can somebody uploud the lastest indicators
Thanks in advance.
  • #32,663
  • Aug 6, 2015 7:10am Aug 6, 2015 7:10am
USDCHF to TP, Classic set up
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  • #32,664
  • Aug 6, 2015 8:31am Aug 6, 2015 8:31am
Quoting Rcubic
USDCHF to TP, Classic set up {image}
Nice trade...... nothing but net!

Masterrmind...........
Master your Mind then Master your Trades
  • #32,665
  • Aug 6, 2015 12:50pm Aug 6, 2015 12:50pm
Quoting Masterrmind
{quote} Nice trade...... nothing but net! Masterrmind...........
Thanks MM, that's the result of studying your old charts :nerd:.......Credit to you MM........thanks for sharing
  • #32,666
  • Aug 6, 2015 3:35pm Aug 6, 2015 3:35pm
Quoting Rcubic
USDCHF to TP, Classic set up {image}

Hi Rcubic... one question, why didn't you get in at 98300 on the previous candle ? on your chart it is 6 am.

thank you.
  • #32,667
  • Aug 6, 2015 4:20pm Aug 6, 2015 4:20pm
Quoting NewToForex14
{quote} Hi Rcubic... one question, why didn't you get in at 98300 on the previous candle ? on your chart it is 6 am. thank you.
I know what you mean, it will be a losing trade, for some reason I decided to wait (didn't feel confident) because of that consolidation before between the 30 and 40 level, but once I saw de second attack to the 30 level (feel more confident) I put the pending order, I have noticed the second attack to the level are the safest, sometimes is better to wait for more clues on PA, instead of jumping straight, hope it make sense
  • #32,668
  • Aug 6, 2015 8:36pm Aug 6, 2015 8:36pm
Quoting Rcubic
{quote} I know what you mean, it will be a losing trade, for some reason I decided to wait (didn't feel confident) because of that consolidation before between the 30 and 40 level, but once I saw de second attack to the 30 level (feel more confident) I put the pending order, I have noticed the second attack to the level are the safest, sometimes is better to wait for more clues on PA, instead of jumping straight, hope it make sense
Very nice trade indeed Rcubic. I don't read candles that well yet but if you switch to line chart, its the classic reliable "W" pattern.

Question for Rcubic / Masterrmind :
How do you guys determine which pair to trade / follow for the day? My two eyes are busy enough following the Udine 4 pairs that I'm very impressed that traders can switch to and from so many different pairs throughout the day.

This USDCHF trade for example, why did you select it and how many other pairs do you look at while waiting for a setup on USDCHF to happen?

Much appreciated
Do good and disappear...
  • #32,669
  • Aug 6, 2015 9:20pm Aug 6, 2015 9:20pm
Quoting Rcubic
{quote} Thanks MM, that's the result of studying your old charts :nerd:.......Credit to you MM........thanks for sharing
It is very pleasing to see that my posting of charts has not been in vain and that some traders have taken note!

Well done Rcubic I am sure you will continue to progress.

Power in trading comes from understanding PA and the markets NOT by lagging indicators.

Good trading,

Masterrmind............
Master your Mind then Master your Trades
  • #32,670
  • Aug 7, 2015 1:48am Aug 7, 2015 1:48am
Quoting VinceHS
{quote} Very nice trade indeed Rcubic. I don't read candles that well yet but if you switch to line chart, its the classic reliable "W" pattern. Question for Rcubic / Masterrmind : How do you guys determine which pair to trade / follow for the day? My two eyes are busy enough following the Udine 4 pairs that I'm very impressed that traders can switch to and from so many different pairs throughout the day. This USDCHF trade for example, why did you select it and how many other pairs do you look at while waiting for a setup on USDCHF to happen? Much...
Just by scanning through the pairs you start seeing potential coming trades. At the moment I am watching EU,EJ,GU,GJ,AU,AJ,NZU,NZJ,UCH,UC.

But sticking to the 4 main core pairs are the best. Remember you only need two winning trades per day, reading candles are not that difficult, the difficult part comes from PDF ........I will suggest: only the 4 main pairs, only LO and NY, only 2 wining trades per day........you can do it, don't you?
  • #32,671
  • Aug 7, 2015 8:18am Aug 7, 2015 8:18am
EURUSD to TP +30pips.
EURJPY to TP +30pips.

Trade Ideas:

1. Momentum.
2. Strength.
3. Stochs talking....


Yomi.
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Time always comes before price
  • #32,672
  • Aug 7, 2015 12:51pm Aug 7, 2015 12:51pm
Hi, here is an example of a trade made today on AUDJPY, following the same thought process of the USDCHF trade on post 32,665, the first attack to the level was a losing trade, the second attack was a winner, as I said before this is very recurrent set up, so we need to be patient and no jump on every level cross, let to PA to tell us more, especial when jumping into consolidation areas, think about traffic and space, it will save us some losing trades, good weekend to all.
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  • #32,673
  • Aug 7, 2015 9:41pm Aug 7, 2015 9:41pm
Great finish after NFP.
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Wish you all a peaceful weekend.

nasap
The little nut in your head is called brain. Use it!
  • #32,674
  • Aug 8, 2015 3:18am Aug 8, 2015 3:18am
Quoting Rcubic
Hi, here is an example of a trade made today on AUDJPY, following the same thought process of the USDCHF trade on post 32,665, the first attack to the level was a losing trade, the second attack was a winner, as I said before this is very recurrent set up, so we need to be patient and no jump on every level cross, let to PA to tell us more, especial when jumping into consolidation areas, think about traffic and space, it will save us some losing trades, good weekend to all. {image}
Thank you Rcubic...very helpful
Do good and disappear...
  • #32,675
  • Aug 8, 2015 5:11pm Aug 8, 2015 5:11pm
Quoting nasap
Great finish after NFP. {image} {image} {image} {image} {image} {image} Wish you all a peaceful weekend. nasap
It's great to see what it can be achievable, would like to see more of your trades, thanks for sharing
  • #32,676
  • Aug 9, 2015 11:31am Aug 9, 2015 11:31am
Quoting nasap
Great finish after NFP. {image} {image} {image} {image} {image} {image} Wish you all a peaceful weekend. nasap
Hi Nasap, hope you had a peaceful weekend. If you don't mind answer, what criteria are you using for TP and SL in your trades, if there is any? Thanks in advance if you can clarify this. Have a good week.
  • #32,677
  • Aug 9, 2015 9:20pm Aug 9, 2015 9:20pm
Quoting Rcubic
{quote} Hi Nasap, hope you had a peaceful weekend. If you don't mind answer, what criteria are you using for TP and SL in your trades, if there is any? Thanks in advance if you can clarify this. Have a good week.
You can be sure about that and I hope you had a good one too! Your question was answered already, if you kindly read here:

http://www.forexfactory.com/showthre...63#post8396463

Just to underline my statement about the many trades, this is result from mth. July.
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The average hit rate for this year >95%. Do I have to care for just some losers or if my SL is 10 / 15 / 17 or whatever? Absolutely not!

1st trade for the new week on GBPAUD.
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Wish you and all others too a green week.

nasap
The little nut in your head is called brain. Use it!
  • #32,678
  • Aug 10, 2015 12:06am Aug 10, 2015 12:06am
Tokyo Session

EURCAD [M5 Chart] +5 TP

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Masterrmind...........
Master your Mind then Master your Trades
  • #32,679
  • Aug 10, 2015 4:03am Aug 10, 2015 4:03am
To continiue with LO:
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nasap
The little nut in your head is called brain. Use it!
  • #32,680
  • Aug 10, 2015 4:19am Aug 10, 2015 4:19am
Quoting jmmac
Hi nasap, {quote} I'm on the process of trying to automate Udine's trading philosophy (since I'm no good at discretionary trading...) and have taken many ideas from many great traders in this forum, including you, of course, since it seems you're the only one that successfully automated this trading method. At this point I'm looking at strength meters and I got curious about what you said some time ago, about creating a strength meter based on a correlation table! I understand how giraia style indicators are calculated, I understand how absolute...
Sorry for late reply, but I did not read back much! The simple question is, what do we need to generate an algorithm? Numbers, lots of numbers! Hence first create a correlation table with the 28 commonly used pairs and then try to develop an algo. That's it!

Correlation can become an eye opener if once you understood how exactly it works. You will find out only by watching it!

nasap
The little nut in your head is called brain. Use it!
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