As simple as possible: 00 level trading | Page 1656 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

SIMPLE EA for a simple method needed!! 2 replies

As simple as possible: RENKO M5 trading 75 replies

Trading is this Simple? Finally Explained simple and clearly! 46 replies

Simple Level Trading 1 reply

Trading: As simple as possible, but no simpler - by a real Cityboy 92 replies

Attachments: As simple as possible: 00 level trading
Exit Attachments

As simple as possible: 00 level trading

  • #33,101
  • Nov 2, 2015 4:01am Nov 2, 2015 4:01am
hi guys, I am a newbie. According to udine's system.

am i right, once D1 and H1 become green, set up buy pending orders at 00 level not market order. once D1 and H1 become red, set up sell pending orders at 00 level.
here is my chart,where should i enter? sell stop 1.10100 or sell limit 1.10200? which order is the correct execution?
Attached Image (click to enlarge)
Click to Enlarge Name: QQ截图20151102174046.jpg Size: 1.7 MB
  • #33,102
  • Nov 2, 2015 11:30am Nov 2, 2015 11:30am
Quoting Elizabethcha
hi guys, I am a newbie. According to udine's system. am i right, once D1 and H1 become green, set up buy pending orders at 00 level not market order. once D1 and H1 become red, set up sell pending orders at 00 level. here is my chart,where should i enter? sell stop 1.10100 or sell limit 1.10200? which order is the correct execution? {image}
​
Hi and welcome to the thread!

I am also still learning here, but on page 1 you find the rules well summarized. No short at .100 which should answer one part. To my understanding only pending stop, no limit orders. That's at least how I trade it.

Good luck!!
  • #33,103
  • Nov 2, 2015 1:35pm Nov 2, 2015 1:35pm
Some of my trades of today below. Again rather mixed results... and not green.​

Attached Image (click to enlarge)
Click to Enlarge Name: 20151102_LT_M15_EURUSD(1).PNG Size: 44 KB


Attached Image (click to enlarge)
Click to Enlarge Name: 20151102_LT_M15_AUDJPY(1).PNG Size: 36 KB


Attached Image (click to enlarge)
Click to Enlarge Name: 20151102_LT_M15_AUDCHF(1).PNG Size: 40 KB
  • #33,104
  • Nov 2, 2015 7:35pm Nov 2, 2015 7:35pm
Quoting fx-guy
{quote} ​ Hi and welcome to the thread! I am also still learning here, but on page 1 you find the rules well summarized. No short at .100 which should answer one part. To my understanding only pending stop, no limit orders. That's at least how I trade it. Good luck!!
thank you very much.
  • #33,105
  • Nov 3, 2015 4:49am Nov 3, 2015 4:49am
Below my trades from this morning, great result:

Trade #1 & 2: EURUSD to TP
Trade #3 & 4: CHFJPY to TP
Trade #5: EURJPY to SL
Trade #6: EURJPY to TP

So in overall a great result (for me at least ) with 5 winners and 1 loser. I feel even the first EJ trade that went to SL was a good entry. SL just hit by a fraction of a pip...

Attached Image (click to enlarge)
Click to Enlarge Name: 20151103_LT_M15_EURUSD(1).PNG Size: 37 KB


Attached Image (click to enlarge)
Click to Enlarge Name: 20151103_LT_M15_CHFJPY(1).PNG Size: 41 KB


Attached Image (click to enlarge)
Click to Enlarge Name: 20151103_LT_M15_EURJPY(1).PNG Size: 41 KB
  • #33,106
  • Nov 3, 2015 8:05am Nov 3, 2015 8:05am
GBPUSD (M15) +10pips.



Trade Ideas:

1. 5ema - the trigger.
2. Strength.
3. sync in pair.
4. Momentum.


Cheers,
Yomi.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15.png Size: 54 KB
Time always comes before price
  • #33,107
  • Nov 3, 2015 9:51am Nov 3, 2015 9:51am
Quoting fx-guy
Below my trades from this morning, great result: Trade #1 & 2: EURUSD to TP Trade #3 & 4: CHFJPY to TP Trade #5: EURJPY to SL Trade #6: EURJPY to TP So in overall a great result (for me at least ) with 5 winners and 1 loser. I feel even the first EJ trade that went to SL was a good entry. SL just hit by a fraction of a pip... {image} {image} {image}
A good entry indeed for EJ.
In cases like this, when TP is almost hit and missed for a pip fraction, my suggestion is to close the trade manually to avoid a 100% winner to turn into a loss.
Porta itineris dicitur longissima esse
  • #33,108
  • Nov 3, 2015 9:57am Nov 3, 2015 9:57am
My trades from this afternoon below.

Trade #7: EURUSD to TP
Trade #8 & 9: EURJPY to TP
Trade #10: CHFJPY to SL
Trade #11 & 12: USDJPY to TP


In overall a great day with 10 winners and 2 losers (see my previous post from today). Trading with 10 pip SL and 5 pip TP, this leaves me with 30 green pips.​
Obviously I was overtrading today, but I am still in training mode... in addition, the conditions today were great for the system.

Attached Image (click to enlarge)
Click to Enlarge Name: 20151103_LT_M15_EURUSD(2).PNG Size: 31 KB


Attached Image (click to enlarge)
Click to Enlarge Name: 20151103_LT_M15_EURJPY(2).PNG Size: 37 KB


Attached Image (click to enlarge)
Click to Enlarge Name: 20151103_LT_M15_CHFJPY(2).PNG Size: 38 KB


Attached Image (click to enlarge)
Click to Enlarge Name: 20151103_LT_M15_USDJPY(1).PNG Size: 31 KB
  • #33,109
  • Nov 3, 2015 10:04am Nov 3, 2015 10:04am
Quoting bubincka
{quote} A good entry indeed for EJ. In cases like this, when TP is almost hit and missed for a pip fraction, my suggestion is to close the trade manually to avoid a 100% winner to turn into a loss.
Thanks for the feedback/hint. Appreciated! ​
I think I still need to "develop an eye" for such situations... when it is best to close the trade manually... :nerd:
  • #33,110
  • Nov 4, 2015 8:38am Nov 4, 2015 8:38am
EURJPY (M15) +38pips.



Trade Ideas:

1. 5ema the trigger.
2. Sync in pair.
3. Strength.
4. Momentum.



Cheers,
Yomi.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM15.png Size: 59 KB
Time always comes before price
  • #33,111
  • Nov 4, 2015 9:45am Nov 4, 2015 9:45am
Hi fxrabbi,
great market analysis --> great trades from you.

I know it has probably been asked, but I'd like to know wich TP/SL do you use.

Thank you and regards,
Bubincka
Porta itineris dicitur longissima esse
  • #33,112
  • Nov 4, 2015 9:54am Nov 4, 2015 9:54am
Quoting bubincka
Hi fxrabbi, great market analysis --> great trades from you. I know it has probably been asked, but I'd like to know wich TP/SL do you use. Thank you and regards, Bubincka

Trade/Risk Management:

1. MM : - 2%.
2. TP: - 30pips.
3. BE/Lock-in-pips: - 15pips.
4. SL: - 15pips.
5. Daily Target: - 30pips (1 or 2 trades per day).
6. Stop trading for the day after 3 consecutive losses.



Happy trading,
Yomi.
Time always comes before price
  • #33,113
  • Nov 4, 2015 10:11am Nov 4, 2015 10:11am
Quoting fxrabbi
GBPUSD (M15) +10pips. Trade Ideas: 1. 5ema - the trigger. 2. Strength. 3. sync in pair. 4. Momentum. Cheers, Yomi. {image}
Are you still using a 10 Pip SL?
  • #33,114
  • Nov 4, 2015 10:12am Nov 4, 2015 10:12am
Quoting fxrabbi
{quote} Trade/Risk Management: 1. MM : - 2%. 2. TP: - 30pips. 3. BE/Lock-in-pips: - 15pips. 4. SL: - 15pips. 5. Daily Target: - 30pips (1 or 2 trades per day). 6. Stop trading for the day after 3 consecutive losses. Happy trading, Yomi.
Hi fxrabbi, thank you for your reply.

In your last trade EJ, you went short @ .400, if SL had been 15 pips it should have been taken when price almost touched 132.600
Did you give more room widening the SL ? I'd like to understand how you manage the trades in general-
Porta itineris dicitur longissima esse
  • #33,115
  • Nov 4, 2015 10:28am Nov 4, 2015 10:28am
Quoting ericjschroed
{quote} Are you still using a 10 Pip SL?

No, I use 15pips now.
Time always comes before price
  • #33,116
  • Nov 4, 2015 10:39am Nov 4, 2015 10:39am
Quoting bubincka
{quote} Hi fxrabbi, thank you for your reply. In your last trade EJ, you went short @ .400, if SL had been 15 pips it should have been taken when price almost touched 132.600 Did you give more room widening the SL ? I'd like to understand how you manage the trades in general-
You're right with your observation.

This is what happened:

After placing that trade I felt tired, so I off my trading platform to have some short nap for about 1 hrs 30 mins, when I came back the market was already coming down. The EA that I use was set at:

1. Fake TP -100pips.
2. True TP - 30pips.
3. False/Fake SL - 100pips.
4. True SL - 15pips.

I hope you can now understand what happpened.



Happy trading,
Yomi.
Time always comes before price
  • #33,117
  • Nov 4, 2015 12:59pm Nov 4, 2015 12:59pm
Quoting ericjschroed
{quote} Are you still using a 10 Pip SL?
I would consider a hard bid stop of 15-18 pips the sweetspot, provided you know your entry is precise.

Today´s trades, exceptionally during the Asian session due to so much red news today.

#1 USDJPY to TP
#2 AUDJPY to TP
#3 CADJPY to TP
#4 GBPJPY to TP-ish. The f@#ckers constantly off-quoted me on this one when it hit 7.5 pip TP level and I had to close the trade on my iPhone.

Any way to put Wukar on steroids and forceclose in cases like these ?

Cheers,
LuXing
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 176 KB
Click to Enlarge Name: Screenshot2.png Size: 173 KB
Click to Enlarge Name: Screenshot3.png Size: 156 KB
Click to Enlarge Name: Screenshot4.png Size: 186 KB
Wisdom begins in wonder
  • #33,118
  • Nov 4, 2015 1:04pm Nov 4, 2015 1:04pm
Quoting fxrabbi
{quote} You're right with your observation. This is what happened: After placing that trade I felt tired, so I off my trading platform to have some short nap for about 1 hrs 30 mins, when I came back the market was already coming down. The EA that I use was set at: 1. Fake TP -100pips. 2. True TP - 30pips. 3. False/Fake SL - 100pips. 4. True SL - 15pips. I hope you can now understand what happpened. Happy trading, Yomi.

Nice one fxrabbi !!!
Same modus operandi here, hidden TP and SL set far away from the real targets.

Only one trade after today s Draghi fireworks and Red News mayhem:
EURUSD to TP, manually bailed out at +5 pips.

LuXing
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 171 KB
Wisdom begins in wonder
  • #33,119
  • Nov 4, 2015 1:57pm Nov 4, 2015 1:57pm
Gentlemen​, impressive results for a day like this! After having a successful day yesterday, I got totally burned today. Of course I skipped the red news (1h before - 30min after) but traded in between... not a good idea...

@LuXing: so you are trading with 15pips SL and 7.5pips TP? Are you applying the concept from above to both? Meaning the "hard bid"...

@LuXing and fxrabbi: thanks for sharing your risk/trade management here... helpful!
  • #33,120
  • Nov 5, 2015 2:08am Nov 5, 2015 2:08am
Quoting fx-guy
Gentlemen​, impressive results for a day like this! After having a successful day yesterday, I got totally burned today. Of course I skipped the red news (1h before - 30min after) but traded in between... not a good idea... @LuXing: so you are trading with 15pips SL and 7.5pips TP? Are you applying the concept from above to both? Meaning the "hard bid"... @LuXing and fxrabbi: thanks for sharing your risk/trade management here... helpful!

Time always comes before price
13 traders viewing now