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As simple as possible: 00 level trading

  • #33,141
  • Nov 9, 2015 6:56am Nov 9, 2015 6:56am
Quoting LuXing
{quote} Patience is a virtue Asmodai. IF in doubt, THEN do not take the trade (your AUDJPY). ELSE leave it room to breathe ! Took a while, but finally 2 x AUDJPY to TP. LuXing {image}
Your absolutely right, i thought it was a good trade and at the moment i moved the stop i still believed it would go to TP, i only moved the stop because i was already over 2% profit and didnt want to go below that with a full loss. So i moved the stop for the WRONG reasons.
It was lack of patience and not being able to mentally accept the risk for that trade... two mistakes.

Asmodai
  • #33,142
  • Nov 9, 2015 7:47am Nov 9, 2015 7:47am
Trade taken on demo (on live I dont take long at the 900 level), for illustrative purposes only.

AUDUSD * USDCHF = AUDCHF.
Up + Up = Upē

LuXing
Attached Image (click to enlarge)
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Wisdom begins in wonder
  • #33,143
  • Nov 9, 2015 8:15am Nov 9, 2015 8:15am
Quoting Asmodai
{quote} Your absolutely right, i thought it was a good trade and at the moment i moved the stop i still believed it would go to TP, i only moved the stop because i was already over 2% profit and didnt want to go below that with a full loss. So i moved the stop for the WRONG reasons. It was lack of patience and not being able to mentally accept the risk for that trade... two mistakes. Asmodai
I've done the same thing. And I bet many others have too . . .
  • #33,144
  • Nov 9, 2015 8:29am Nov 9, 2015 8:29am
GBPUSD * USDCHF = GBPCHF +5.9 pips.
Up + Up = Upē

LuXing
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 53 KB
Wisdom begins in wonder
  • #33,145
  • Nov 9, 2015 8:43am Nov 9, 2015 8:43am
Quoting LuXing
GBPUSD * USDCHF = GBPCHF +5.9 pips. Up + Up = Up LuXing {image}
Hummmm, very interesting, had not thought about it that way.

Asmodai
  • #33,146
  • Nov 9, 2015 2:09pm Nov 9, 2015 2:09pm
My trades from today:

Trade #1: GBPJPY to TP
Trade #2: GBPJPY to SL -> seemed to still have the momentum... but didn't
Trade #3: EURJPY to TP
Trade #4: AUDJPY to TP
Trade #5: USDJPY to TP
Trade #6-7: EURUSD to SL -> first one looked like a good entry for me with good momentum. Second was stupid because looong bar before, but I thought it bounced of DO...

Even though I have a negative result and I see there is still a long way to go for me, I feel I am getting closer/better at this. Hopefully slowly but steady I am getting there... let's see

@Luxing: thanks for the very interesting posts! Seems pretty simple logic, but I also never thought of it this way

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  • #33,147
  • Nov 9, 2015 3:21pm Nov 9, 2015 3:21pm
Quoting Robinho
07 victories so far Look just the couple, you need not be looking at all pairs. JUST LOOK 1x8 2x8 1x7 2x7 preferably only 1x8 and 1x7 {image}
@Robinho
Do you have a specific time to look at 1x8,2x8,1x7,2x7
Thanks for answering my question.
  • #33,148
  • Nov 10, 2015 2:20am Nov 10, 2015 2:20am
Quoting kofix11
{quote} @Robinho Do you have a specific time to look at 1x8,2x8,1x7,2x7 Thanks for answering my question.
We look at these pairs within the rules UDINE (M30, indicators etc ...) the only difference is that we have the power filter. To improve the trigger ... Leave these pairs on M5
  • #33,149
  • Nov 10, 2015 3:51am Nov 10, 2015 3:51am
Quoting Robinho
{quote} We look at these pairs within the rules UDINE (M30, indicators etc ...) the only difference is that we have the power filter. To improve the trigger ... Leave these pairs on M5
Hi Robinho- can you please tell what power filter you are using?
  • #33,150
  • Nov 11, 2015 2:54am Nov 11, 2015 2:54am
Quoting ppuruswani
{quote} Hi Robinho- can you please tell what power filter you are using?
FOREXPROFITSUPREME METER
POST 3
http://www.forexfactory.com/showthread.php?t=558406
  • #33,151
  • Edited 5:59am Nov 11, 2015 3:07am | Edited 5:59am
...
  • #33,152
  • Nov 11, 2015 12:39pm Nov 11, 2015 12:39pm
Draghi fireworks today, so only Asian session trades.

#1 NZDUSD to TP
#2 EURUSD to TP
#3 EURCAD to TP
#4 EURCAD to TP
#5 EURUSD to TP
#6 EURJPY to TP
#7 NZDUSD to TP
#8 AUDCAD to TP

LuXing
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Wisdom begins in wonder
  • #33,153
  • Nov 11, 2015 1:47pm Nov 11, 2015 1:47pm
Quoting kofix11
{quote} @Robinho Do you have a specific time to look at 1x8,2x8,1x7,2x7 Thanks for answering my question.
Quoting ppuruswani
{quote} Hi Robinho- can you please tell what power filter you are using?
Seriously guys.

Did you read even 10% of the thread or use the search function ?

All the answers (well almost all) are in the thread !!!

LuXing
Wisdom begins in wonder
  • #33,154
  • Nov 11, 2015 1:49pm Nov 11, 2015 1:49pm
Quoting mtbb
...
I fully agree.

When Draghi speaks, you never know.

LuXing
Wisdom begins in wonder
  • #33,155
  • Nov 11, 2015 1:56pm Nov 11, 2015 1:56pm
Quoting fx-guy
My trades from today: Trade #1: GBPJPY to TP Trade #2: GBPJPY to SL -> seemed to still have the momentum... but didn't Trade #3: EURJPY to TP Trade #4: AUDJPY to TP Trade #5: USDJPY to TP Trade #6-7: EURUSD to SL -> first one looked like a good entry for me with good momentum. Second was stupid because looong bar before, but I thought it bounced of DO... Even though I have a negative result and I see there is still a long way to go for me, I feel I am getting closer/better at this. Hopefully slowly but steady I am getting there... let's see @Luxing:...

Why didnīt you take GJ at the 150 level ?
London opens, price boosts, you get your TP of the first hour.
Big guys took profits, price falls, touches the DO level and clearly rejects lows.
Second hour after London, price starts to move up and you could (should) have jumped in at the first rather than the third level.
Would have gotten you 5-10 pips easily.

LuXing
Attached Image
Wisdom begins in wonder
  • #33,156
  • Nov 11, 2015 2:00pm Nov 11, 2015 2:00pm
Quoting LuXing
Draghi fireworks today, so only Asian session trades. #1 NZDUSD to TP #2 EURUSD to TP #3 EURCAD to TP #4 EURCAD to TP #5 EURUSD to TP #6 EURJPY to TP #7 NZDUSD to TP #8 AUDCAD to TP LuXing {image} {image} {image} {image} {image} {image} {image} {image}
Weldone, Mr. Power Play
Time always comes before price
  • #33,157
  • Nov 11, 2015 2:09pm Nov 11, 2015 2:09pm
Quoting LuXing
Draghi fireworks today, so only Asian session trades. #1 NZDUSD to TP #2 EURUSD to TP #3 EURCAD to TP #4 EURCAD to TP #5 EURUSD to TP #6 EURJPY to TP #7 NZDUSD to TP #8 AUDCAD to TP LuXing {image} {image} {image} {image} {image} {image} {image} {image}
Great trades.

Did you change your SL? In one of the trades you had to have a SL of more than 15 to not be taken out.

Asmodai
  • #33,158
  • Nov 11, 2015 4:16pm Nov 11, 2015 4:16pm
Quoting Asmodai
{quote} Great trades. Did you change your SL? In one of the trades you had to have a SL of more than 15 to not be taken out. Asmodai
My SL = hard bid stop of 17-18 pips max. during the Asian session.


The trade you are referring to indeed missed the SL by a couple of pipettes...

LuXing
Wisdom begins in wonder
  • #33,159
  • Nov 12, 2015 3:15am Nov 12, 2015 3:15am
Quoting LuXing
{quote} Why didnt you take GJ at the 150 level ? London opens, price boosts, you get your TP of the first hour. Big guys took profits, price falls, touches the DO level and clearly rejects lows. Second hour after London, price starts to move up and you could (should) have jumped in at the first rather than the third level. Would have gotten you 5-10 pips easily. LuXing {image}
LuXing, thanks for the great feedback! Your "verbal replay" makes this look so easy what's going on there... and thus also obvious I should have entered earlier...
I think what happened is that the first M15 bar of the second hour made me hesitate and not trust momentum. So I waited... should have taken the second level latest... third obviously too late.

I will try to comprehend and apply such thinking in the future!
Thanks!

PS: impressive trading tonight during Tokyo
  • #33,160
  • Nov 12, 2015 3:32am Nov 12, 2015 3:32am
I know Draghi today... but took 2 trades before his first speech today. And now done for today.

Trade #1: GBPJPY to TP
Trade #2: GBPUSD to TP

Both had great momentum and been in synch... both hit TP.
(don't ask me why I entered GU so late, should have done at least 1 level earlier... must have been sleeping )

Attached Image (click to enlarge)
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