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As simple as possible: 00 level trading

  • #32,921
  • Sep 22, 2015 2:42am Sep 22, 2015 2:42am
Buenos dias,

Trade #1 o/t day: GBPJPY to TP
Trade #2 o/t day: GBPCAD to TP

Good thing prices on both went "the right way". Wukar repeatedly tried to close, but got a rather worrying message back from the broker...

LuXing
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 34 KB
Click to Enlarge Name: Screenshot2.png Size: 33 KB
Attached Image
Wisdom begins in wonder
  • #32,922
  • Sep 22, 2015 2:51am Sep 22, 2015 2:51am
I had the same problem with this broker three times last month always around this time of day. I pulled out and went elsewhere and after seeing this I am positive now that I was not the only one. Thanks LuXing, it is a real shame too because everything else about them is great I know. Most of all withdrawals took like two min to skrill. Just a heads up that it looks like this problem is not going away anytime soon. I told them I would be back when they got everything sorted out.

Good luck mate cheers,

always this time of day just for future reference mate
  • #32,923
  • Sep 22, 2015 2:59am Sep 22, 2015 2:59am
A few trades at LO

Looked at M15 first, then zoned down to M5 to enter the trades and monitor.

GBPUSD (M5) TP

Attached Image


EURJPY (M5) + 0.7 (Closed manually due to hesitation at S1 (Dark Blue Line))

Attached Image


GBPJPY (M5) + 2.2 (Closed manually due to hesitation at S1 (Dark Blue Line))

Attached Image


EURJPY (M5) - 3.3
- Saw a bounce of S1 (Dark Blue Line) on M5 chart. Should have gone back to M15 chart to wait for better set-ups. A bad trade which was a product of over-trading. The trade was closely monitored and closed out when price reversed (all be it for a loss, but not as big a loss as it could have been).

Attached Image
  • #32,924
  • Sep 22, 2015 3:21am Sep 22, 2015 3:21am
Trade #3 o/t day: CHFJPY to TP.

LuXing
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Click to Enlarge Name: Screenshot1.png Size: 32 KB
Wisdom begins in wonder
  • #32,925
  • Sep 22, 2015 4:59am Sep 22, 2015 4:59am
Hello everybody...

Quoting MakerAz
{quote} 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?

I think

ADR = (Y + 5d + 10d + 20d) / 4

T = High - Low of the day


Hope this helps you MakerAz ;-)


A nice day and green pips to all of you :-)
  • #32,926
  • Sep 22, 2015 7:48am Sep 22, 2015 7:48am
Trade #4 o/t day: AUDUSD to TP

LuXing
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Click to Enlarge Name: Screenshot1.png Size: 34 KB
Wisdom begins in wonder
  • #32,927
  • Edited 8:07am Sep 22, 2015 7:50am | Edited 8:07am
Here is another update to the BidRatio indy (I reduced the size on the main chart).
Also enclosed a smaller TF buttons which sits below it.

http://imgur.com/XiusboJ

All the best
XARD777

PS The BidRatio = Symbols(Bid-Low)/(High-low) also known as the Buyers %
The Bid Ratio lists the percent strength of each time frame (we mainly use D1 timeframe)
75% would be a bid price 3/4 of the bar length.
50% would be a bid price right in the middle of the bar.
25% would be a bid price at 1/4 of the bar length.

In an UP trend we are looking for 75% and ABOVE for upward strength
In a DOWN trend we are looking for 25% and BELOW for downward strength
Attached File(s)
File Type: ex4 !!!-MT4 X-BIDRATIO v1.4.ex4   32 KB | 899 downloads
File Type: ex4 !!!-MT4 X-BUTTONS v2.ex4   13 KB | 934 downloads
  • #32,928
  • Sep 22, 2015 7:54am Sep 22, 2015 7:54am
Quoting xard777
Here is another update to the BidRatio indy (I reduced the size on the main chart). Also enclosed a smaller TF buttons which sits below it. http://imgur.com/XiusboJ All the best XARD777 {file} {file}

Great mind.....great Man...Well appreciated.


Yomi.
Time always comes before price
  • #32,929
  • Sep 22, 2015 7:56am Sep 22, 2015 7:56am
Quoting xard777
Here is another update to the BidRatio indy (I reduced the size on the main chart). Also enclosed a smaller TF buttons which sits below it. http://imgur.com/XiusboJ All the best XARD777 {file} {file}
Thanks highly appreciated
  • #32,930
  • Sep 22, 2015 8:18am Sep 22, 2015 8:18am
Trade #5 o/t day: AUDCHF to TP.

LuXing
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 38 KB
Wisdom begins in wonder
  • #32,931
  • Sep 22, 2015 8:50am Sep 22, 2015 8:50am
EURUSD (M30) +18.5pips.


Trade Ideas:

1. M30 Level 1.
2. 5ema.
3. Strength.
4. Momentum.


Cheers,
Yomi.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM30.png Size: 52 KB
Time always comes before price
  • #32,932
  • Sep 22, 2015 8:54am Sep 22, 2015 8:54am
Quoting Ff-fx
Hello everybody... {quote} I think ADR = (Y + 5d + 10d + 20d) / 4 T = High - Low of the day Hope this helps you MakerAz ;-) A nice day and green pips to all of you :-)
Thank you very much Ff-fx. Very helpful.

I have also figured out the RmUp and RmDn indicators.

Plenty of Take Profits to all of you!
  • #32,933
  • Sep 22, 2015 9:56am Sep 22, 2015 9:56am
Quoting Udine
3. Frankfurt open only .400/.500/.600 levels
4. London open all levels
Hi Everyone!

What about New York session? What entry levels are recommended?

Regards,
MakerAz
  • #32,934
  • Sep 22, 2015 1:36pm Sep 22, 2015 1:36pm
Quoting MakerAz
{quote} Hi Everyone! What about New York session? What entry levels are recommended? Regards, MakerAz
All levels (except longs @900 and shorts @ 100), but be especially careful with the BRNs (look left on your chart).
BRNs require more momentum to be broken.

The same goes, more and more in my opinion, for 500 levels.

In case of doubt and until you have a couple of hundred succesful trades under your belt, maybe only observe the BRNs and how price reacts to these.

LuXing
Wisdom begins in wonder
  • #32,935
  • Sep 22, 2015 5:34pm Sep 22, 2015 5:34pm
Quoting finfresh
A few trades at LO Looked at M15 first, then zoned down to M5 to enter the trades and monitor. GBPUSD (M5) TP {image} EURJPY (M5) + 0.7 (Closed manually due to hesitation at S1 (Dark Blue Line)) {image} GBPJPY (M5) + 2.2 (Closed manually due to hesitation at S1 (Dark Blue Line)) {image} EURJPY (M5) - 3.3 - Saw a bounce of S1 (Dark Blue Line) on M5 chart. Should have gone back to M15 chart to wait for better set-ups. A bad trade which was a product of over-trading. The trade was closely monitored and closed out when price reversed (all be it for...
Some good trades there, but remember that the safest levels are the first levels of every hour, if you decide to take next levels, make sure there is enought momentum and strength, you did well in preserving the capital on some trades that's good. Just play the first levels of every hour. Keep it safe.
  • #32,936
  • Sep 23, 2015 1:17am Sep 23, 2015 1:17am
Quoting Rcubic
{quote} Some good trades there, but remember that the safest levels are the first levels of every hour, if you decide to take next levels, make sure there is enought momentum and strength, you did well in preserving the capital on some trades that's good. Just play the first levels of every hour. Keep it safe.
Yeah I see what you mean by sticking to the first levels of the hour. When I go down to lower time frames, I see more which makes me want to trade more, which leads to over-trading and entering trades with a lower probability of success. Thanks.
  • #32,937
  • Edited 3:07am Sep 23, 2015 2:49am | Edited 3:07am
Quoting LuXing
{quote} All levels (except longs @900 and shorts @ 100), but be especially careful with the BRNs (look left on your chart). BRNs require more momentum to be broken. The same goes, more and more in my opinion, for 500 levels. In case of doubt and until you have a couple of hundred succesful trades under your belt, maybe only observe the BRNs and how price reacts to these. LuXing
Thank you very much, LuXing! Very helpful.

Would you mind to help me with my trials to find the setup. I understand that mechanically "setup" means a Pending Order with SL and TP.
The market is live and the strategy requires to trade during first 2 hours of the market open, this brings even more volatility. When I think of a setup I look for H1 and D1 indicators to both be in the same direction. However, when the pending order gets accepted H1 and D1 may show opposite directions. What sequence do you use to follow the strategy, avoid a wrong entry and at the same time not miss the opportunity.

All the best!!!

My current setups for GPB/JPY
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  • #32,938
  • Sep 23, 2015 6:45am Sep 23, 2015 6:45am
back to basics
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  • #32,939
  • Sep 23, 2015 7:54am Sep 23, 2015 7:54am
GBPUSD (M30) +35.1pips

Trade ideas:

1. Sync in pair.
2. Strength.
3. Momentum.


Cheers,
Yomi.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM30.png Size: 53 KB
Time always comes before price
  • #32,940
  • Sep 23, 2015 8:09am Sep 23, 2015 8:09am
GBPJPY (M30) +40pips

Trade ideas:

1. Sync in pair.
2. Strength.
3. Momentum.


Cheers,
Yomi.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM30.png Size: 58 KB
Time always comes before price
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