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As simple as possible: 00 level trading

  • #32,901
  • Sep 18, 2015 2:11am Sep 18, 2015 2:11am
If Udine can do it, we can do it

Thanks to Udine!
Attached Image
  • #32,902
  • Sep 18, 2015 2:13am Sep 18, 2015 2:13am
Well done Rcubic!
Persistence will get it. Consistency will keep it.
  • #32,903
  • Sep 18, 2015 2:22am Sep 18, 2015 2:22am
Quoting Rcubic
If Udine can do it, we can do it Thanks to Udine! {image}
Nice
  • #32,904
  • Sep 18, 2015 4:13am Sep 18, 2015 4:13am
Good morning All,

GBPUSD (M30) +10pips.


Trade Ideas:

1. M30 level 1 entry.
2. 5ema trigger.
3. Strength.
4. Momentum.


Cheers,
Yomi.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM30.png Size: 54 KB
Time always comes before price
  • #32,905
  • Sep 18, 2015 4:33am Sep 18, 2015 4:33am
EURUSD (M30) +20pips.


Trade Ideas:

1. 5ema trigger.
2. Strength.
3. Momentum.


Cheers,
Yomi.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM30.png Size: 54 KB
Time always comes before price
  • #32,906
  • Sep 21, 2015 2:26am Sep 21, 2015 2:26am
Good morning and good trading everyone.

My first two trades today:

GJ to TP

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM30.png Size: 45 KB


GU +1 .... was not moving and i closed it at a small profit

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM30.png Size: 44 KB


Asmodai
  • #32,907
  • Sep 21, 2015 2:28am Sep 21, 2015 2:28am
GBPUSD SL

- Just didn't have the legs to reach TP (I use 5.5 pips) and I don't use a trailing stop.
- JPY would have been the way to go in hindsight, alot weaker than the USD.

Attached Image
  • #32,908
  • Sep 21, 2015 3:03am Sep 21, 2015 3:03am
Good morning All.


GBPPJPY (M30) +10pips.

Trade Ideas:

1. M30 Level 1.
2. Sync in pair.
3. Strength.


Cheers,
Yomi.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM30.png Size: 56 KB
Time always comes before price
  • #32,909
  • Sep 21, 2015 3:28am Sep 21, 2015 3:28am
good morning all,

enjoy the week

Udine
Sleep less, live fast, as it aint gonna last
  • #32,910
  • Sep 21, 2015 3:40am Sep 21, 2015 3:40am
EU to SL

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM30.png Size: 45 KB


Price went to where i was thinking it would go, but went to my SL first. This is one of those trades i will have to take a good look at.

Asmodai
  • #32,911
  • Sep 21, 2015 5:33am Sep 21, 2015 5:33am
Buenos días,

Trade #1 o/t day: GBPJPY to TP
Trade #2 o/t day: CHFJPY out by TS
Trade #3 o/t day: EURJPY out by TS
Trade #4 o/t day: EURUSD +2 pips. Manual close due to horrible slippage on entry
Trade #5 o/t day: USDCHF to TP
Last but not least: AUDCHF to TP

Wish you all green pips !

LuXing
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 34 KB
Click to Enlarge Name: Screenshot2.png Size: 34 KB
Click to Enlarge Name: Screenshot3.png Size: 35 KB
Click to Enlarge Name: Screenshot4.png Size: 33 KB
Click to Enlarge Name: Screenshot6.png Size: 34 KB
Click to Enlarge Name: Screenshot7.png Size: 34 KB
Wisdom begins in wonder
  • #32,912
  • Sep 21, 2015 5:34am Sep 21, 2015 5:34am
Quoting Rcubic
If Udine can do it, we can do it Thanks to Udine! {image}


Keep up the rhythm. This is a marathon !!!

LuXing
Wisdom begins in wonder
  • #32,913
  • Sep 21, 2015 5:44am Sep 21, 2015 5:44am
Quoting finfresh
GBPUSD SL - Just didn't have the legs to reach TP (I use 5.5 pips) and I don't use a trailing stop. - JPY would have been the way to go in hindsight, alot weaker than the USD. {image}
Rule #1: protect your capital
Rule #2: donīt forget rule #1

I would suggest you use a BE/TS until you have a sample of 1.000 trades with a hitrate > 85%.

Just my 2 cents though.

LuXing
Wisdom begins in wonder
  • #32,914
  • Sep 21, 2015 5:46am Sep 21, 2015 5:46am
Quoting Masterrmind
GBPJPY [M5 Chart] +5 TP {image} Masterrmind...........
Nice Masterrmind !!!
Are you using TP 7.5 and SL 15 for all your trades now ?

LuXing
Wisdom begins in wonder
  • #32,915
  • Sep 21, 2015 6:08am Sep 21, 2015 6:08am
Quoting LuXing
{quote} Nice Masterrmind !!! Are you using TP 7.5 and SL 15 for all your trades now ? LuXing
Hi LuXing,

Nope!

Still use SL = 10 pips and TP = 5 pips

The EA places a hard stop (registered at my broker) at 15 pips (Emergency SL if you like)

The 10 pip SL is via a hidden SL applied by the EA

If TP > 5 pips then call it a blessing in the form of +ve slip my way!

Masterrmind............
Master your Mind then Master your Trades
  • #32,916
  • Sep 21, 2015 2:31pm Sep 21, 2015 2:31pm
At LO, the 4 mains pair were in sync, but it was a bit tricky

EURJPY +6.5 (set pending order at FO, and leave it to LO) [M5]
GBPJPY +10 (move sl -15 to give it more room)
EURUSD -11
GBPUSD +1 (didn't move as I wanted, close it early)

NYO
GBPUSD +6.5 [M5]
EURJPY +6.5 [M5]

Good night!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURJPYM5-21-09-15-Trade.png Size: 17 KB
Click to Enlarge Name: GBPJPYM15-21-09-15.png Size: 21 KB
Click to Enlarge Name: EURUSDM15-21-09-15.png Size: 21 KB
Click to Enlarge Name: GBPUSDM15-21-09-15.png Size: 20 KB
Click to Enlarge Name: GBPUSDM5-21-09-15-t2.png Size: 17 KB
Click to Enlarge Name: EURJPYM5-t2tp.png Size: 17 KB
  • #32,917
  • Sep 21, 2015 4:34pm Sep 21, 2015 4:34pm
Quoting Rcubic
At LO, the 4 mains pair were in sync, but it was a bit tricky EURJPY +6.5 (set pending order at FO, and leave it to LO) [M5] GBPJPY +10 (move sl -15 to give it more room) EURUSD -11 GBPUSD +1 (didn't move as I wanted, close it early) NYO GBPUSD +6.5 [M5] EURJPY +6.5 [M5] Good night!
Nice Work! I had the same GBPUSD trade. I should have taken your lead and closed it early. I will have to learn that sort of discretion through experience.
  • #32,918
  • Sep 21, 2015 5:56pm Sep 21, 2015 5:56pm
Quote
SUMMARY TRADING RULES:
Quote
1. D1 & 1H candle color MUST be both red or both green
2. Entry ONLY the FIRST 00 level
3. Frankfurt open only .400/.500/.600 levels
4. London open all levels
5. No short @ .100 level
6. No long @ .900 level
7. No trading 1 hour before RED NEWS on the pair
8. No trading less than 30 minutes after RED NEWS in the pair
9. After 4 losses stop trading for the day
10. Higher probability at market opens (new money into the market
11. Check ADR
12. Distance to BRN > 10 pips (see 5 & 6)
13. Stop trading after reaching daily target
14....

Dear Udine or anybody, please, help me clearly understand the following:

2. Entry ONLY the FIRST 00 level - means, that once D1 & 1H candles color are both red or both green, the CLOSEST 00 Level is the only place to enter the trade. Is it correct?

11. Check ADR
Below is the screenshot of the xADR_0.2renko Indicator:
Attached Image

I understand that the indicator shows Average Daily Range is 145, 5 Days Average Range is 154, 10 Days Average Range is 143 and 20 Days Average Range is 144.
What is Y? What is T? What is RmUP and RmDn and how to interpret these figures?

12. What is BRN? Break Even?

18. Trade higher ADR pairs only. Higher than what?

I like the whole system, Udine! I am trying to make it my own. To fully understand, adapt and implement it to my day job and test it on demo.

Thank you so much for sharing.

Regards,
MakerAz
  • #32,919
  • Sep 21, 2015 6:10pm Sep 21, 2015 6:10pm
2. correct

11. Y is yesterday, T is today, made so you can glance and see how much room up or down is available in the average daily range.

12. Big Round Number

18. Pairs with larger Average Daily Ranges will make more money as they move more than other pairs. As well as give you better odds.

Cheers and good luck...
  • #32,920
  • Sep 22, 2015 2:35am Sep 22, 2015 2:35am
Quoting Ngp
11. Y is yesterday, T is today, made so you can glance and see how much room up or down is available in the average daily range.
18. Pairs with larger Average Daily Ranges will make more money as they move more than other pairs. As well as give you better odds. Cheers and good luck...

Thank you very much Ngp! I have further questions to clarify, if you please.

I'm afraid I'm missing some fundamentals.

Refer to the image below:
Attached Image (click to enlarge)
Click to Enlarge Name: adr.jpg Size: 58 KB


Now, if T is Today, what average range "ADR" is showing? How T and ADR correlate with each other and how they must be interpreted?

Besides, RmUp and RmDn are still unclear. In the image above they are almost equal 163 and 162 respectively. What does that mean? How should I read this ADR indicator to identify if the pair still has a potential?

Thank you very much!

Regards,
MakerAz
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