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As simple as possible: 00 level trading

  • #33,261
  • Nov 24, 2015 11:59am Nov 24, 2015 11:59am
Quoting POC-Trader
{quote} http://www.forexfactory.com/showthre...34#post8593334
Thank you sir.
  • #33,262
  • Nov 24, 2015 10:06pm Nov 24, 2015 10:06pm
Renko Trading - As simple as possible using energy band
Attached Image(s) (click to enlarge)
Click to Enlarge Name: BANKNIFTY-SM2.png Size: 96 KB
Click to Enlarge Name: CROILLM2.png Size: 65 KB
Click to Enlarge Name: NIFTY-SM3.png Size: 92 KB
  • #33,263
  • Nov 24, 2015 11:02pm Nov 24, 2015 11:02pm
Quoting dhghael
Renko Trading - As simple as possible using energy band {image} {image} {image}
What is a purpose of your posts ?

It has not much to do with what Udine started.

There is no explanation of your approach, no indicators you use attached, no actual trades marked on the charts.

Not to mention it is not FOREX at all ...
  • #33,264
  • Nov 25, 2015 2:41am Nov 25, 2015 2:41am
Quoting hassan_salar
Hi Guys, thanx for this wonderful thread Udine Dear Mr. Robinho, if possible answer my questios as this thread has become too big, i got confused and couldn't find my answers I use the base rules posted on page #1, and added AbsulotStrengthhisto indicator, also downloaded and installed Supreme-Meter 1. i dont understand what is 1x8 - 1x7 - 2x8 ??? 2. how do you select your trading pairs based on supereme-meter ? what do you call powerfull (currency with power 6 or higher for example) ? and what do you call weak ? and when ?...
GOOD MORNING !!! I think this will help see posts
33128,33142,33152,33164,33167,33168,33170,33171,33172,33175,33176(Indicadores),33196,33205,33207,33211,33214,33217,33252.
  • #33,265
  • Nov 25, 2015 3:34am Nov 25, 2015 3:34am
Quoting Robinho
{quote} GOOD MORNING !!! I think this will help see posts 33128,33142,33152,33164,33167,33168,33170,33171,33172,33175,33176(Indicadores),33196,33205,33207,33211,33214,33217,33252.
Thanx man

i had already read those posts and a few hundred more pages of the thread :nerd:

but checked them again more properly , and found some of the answers

for reference
On supreme Meter
(1x8 = first powerful currency vs the 8th place weakest currency)
(1x7 = first place vs 7th plcae)
(2x8 = second place va 8th place) and so on


i'm still new to this system and checking it

thanx for the help and good work
regards
  • #33,266
  • Edited 4:07am Nov 25, 2015 3:43am | Edited 4:07am
Quoting dhghael
Renko Trading - As simple as possible using energy band {image} {image} {image}

Why don't you find a better place to post your rubbish or open your own thread. It not your fault.

This is a place where we all love to come and learn only 00 Level Trading.



Yomi
Time always comes before price
  • #33,267
  • Nov 25, 2015 3:46am Nov 25, 2015 3:46am
EURJPY (M15) +16.5pips.

Trade Ideas:

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


Cheers,
Yomi.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM15.png Size: 54 KB
Time always comes before price
  • #33,268
  • Nov 25, 2015 10:39am Nov 25, 2015 10:39am
Quoting dhghael
{image}
as other have already commented... really the wrong thread here.
  • #33,269
  • Nov 25, 2015 10:53am Nov 25, 2015 10:53am
I had a few more trades today, in overall slightly negative results. I am only posting a good and a bad example today:

Trade #1: EURUSD to SL
Trade #2: GBPJPY to TP

For both trades the strength was right at that very point and they had great correlation with the related pairs (EU-EJ and GJ-GU). But for EURUSD I was still too early, should have waited longer for confirmation of momentum which was clearly there for the GBPJPY for example.

Just sharing this a an example where I need to practice better patience and be more selective. I am confident with more practice and experience with this system I will get there.

So even I am not successful yet, I am agreeing with comments from nasap, Robinho and others that there is enough great information in this thread to become successful with this method.
Hope the experienced traders stay on board and keep posting their successes in this thread. Helps me a lot in regards to belief and is always an inspiration
Thanks to all of you, very generous!

Successful trading to all!

Attached Image (click to enlarge)
Click to Enlarge Name: 20151125_LT_M15_EURUSD(1).PNG Size: 31 KB

Attached Image (click to enlarge)
Click to Enlarge Name: 20151125_LT_M15_GBPJPY(1).PNG Size: 34 KB
  • #33,270
  • Nov 25, 2015 4:13pm Nov 25, 2015 4:13pm
Quoting LuXing
Trade #1 o/t day
Dear LuXing,
please help me - I'm afraid I read the rules wrong: why do you use sometimes the first candle of the market open and sometimes the second?

And if you can tell - do you use initial SL(=?) and TP (=10?) ?

Thank you and sorry for my pure English!
Just an opinion. Based on research
  • #33,271
  • Nov 25, 2015 11:51pm Nov 25, 2015 11:51pm
Quoting fx-guy
But for EURUSD I was still too early, should have waited longer for confirmation of momentum which was clearly there for the GBPJPY for example. Just sharing this a an example where I need to practice better patience and be more selective.
I think you and I had the same problem with USD.
I entered a trade at 07h15 GMT minutes before it turned for a strong downwards movement.
My trade was AUDUSD and everything was a perfect setup for a LONG, but just after the trade placed, it turned on me to hit SL.
(But if I say perfect, it actually was not as I have this one rule not to open a trade within 30 minutes after opening of a session and this was 15 minutes after London opened. So if I waited a bit longer, I would have seen the change)

Fortunately that one was on my DEMO as I already had a trade open on my LIVE and I have this rule to only have one open trade in drawdown at any one time. If another trade is slightly positive or set at breakeven, then I will open one more on the live account. If I can't place a trade on my Live account, I place it on the Demo account to see what it would have done.

So something happened in the markets (and it was not RED news, I checked beforehand).

I did place a trade GBPJPY last night at 18h10 GMT. It did not meet all the rules, but did meet the most important one's. That made a profit of 5.6 pips.
The rules it did not meet is that the strength was 2x8 on the strength meter, but only 72% and my rule is to only go for trades 80%+ or -80% if down.
Also the Spread was 3.5 and in general I only trade 2,5 pips spreads or less (for this strategy). (I am currently on a Micro with big spreads, but just opened a zero spread account (minimal pips in practise)) Must still setup and start on that one. So less spread, but pay commission.
  • #33,272
  • Nov 26, 2015 1:53am Nov 26, 2015 1:53am
Good morning trade at that time EUR USD and AUD USD sell
It will not because GBPUSD stands on a pedestal 1.5104
  • #33,273
  • Nov 26, 2015 2:58am Nov 26, 2015 2:58am
Quoting Robinho
Good morning trade at that time EUR USD and AUD USD sell It will not because GBPUSD stands on a pedestal 1.5104
Hi Robinho
I don't really follow.
I don't have a screenshot at that particular point of time, but I capture everything in a spreadsheet with notes and my notes says as follows:

H1 and D1 both GREEN for UP
Overall trend for last month or so UP
No RED news for next hour and there was no RED news for past hour
Forexcurrencystrength_robinho_12 meter showed 2x8 and if you look in left hand column, the strength was +90
Previous candle was green and at moment of placing trade, the candle on M15 was still green. Turned red later.

So if you look at my attached screenshot taken this morning, you will see it turn red and down just after placing trade.

Why do you say it was a SELL at that time?

What do you see that I don't see?
I do see you also use MA on your chart. Do you use them as well I suppose? What settings do you use?

I also don't understand "It will not because GBPUSD stands on a pedestal 1.5104"

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD 2015-11-25.png Size: 16 KB
  • #33,274
  • Nov 26, 2015 4:05am Nov 26, 2015 4:05am
Quoting POC-Trader
{quote} Hi Robinho I don't really follow. I don't have a screenshot at that particular point of time, but I capture everything in a spreadsheet with notes and my notes says as follows: H1 and D1 both GREEN for UP Overall trend for last month or so UP No RED news for next hour and there was no RED news for past hour Forexcurrencystrength_robinho_12 meter showed 2x8 and if you look in left hand column, the strength was +90 Previous candle was green and at moment of placing trade, the candle on M15 was still green. Turned red later. So if you look...
Good day !!!

You are absolutely right in his assessment AUDUSD,,,

Notice that EURUSD was outside the rules (Do not get SELL 10 to 00), but reached 1.0600.

I put this posting to provoke debate, because we have a very good method and not discussed.

NOTE: I like to look mainly at the individual strength of each currency.

NOTE 2: I would like to enter this link and download the two post indicators 12821. I would like them to put the image of the two indicators here because I am unable to change my editor.Gostaria goal to see that these indicators are. http://www.forexfactory.com/showthre...32236&page=642

Use two exponential moving average (EMA 21, 32).

Use also an AUTO PIVOT indicator and more.

This system is like learning to ride a bike. PROFITS BE READING MANUAL. AM DOING THUS SINCE 2014 IS ONLY MY PREVIOUS POSTS VE.

A HUG TO ALL
  • #33,275
  • Nov 26, 2015 9:14am Nov 26, 2015 9:14am
Friends,
please help me to know: do I understand the rules right?
Today M30:
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM30.png Size: 42 KB

LO price is lower then Daily Open Price
LO price is higher then low ADR line
M-candle (H4) is red
1st LO candle is red
=====> Pending sell order at the nearest 00-level (1.06100) - red down arrow.

Has I summarised right?
Do I use initial SL|TP or close position manually with several pips?

Thank you for all your help!
Just an opinion. Based on research
  • #33,276
  • Nov 26, 2015 10:00am Nov 26, 2015 10:00am
Quoting since80808
Friends, please help me to know: do I understand the rules right?
Today M30: {image}
LO price is lower then Daily Open Price
LO price is higher then low ADR line
M-candle (H4) is red 1st LO candle is red
=====> Pending sell order at the nearest 00-level (1.06100) - red down arrow.
Has I summarised right? Do I use initial SL|TP or close position manually with several pips? Thank you for all your help!
I would say correct on most of the above EXCEPT:
1. No SELL at 1.06100 (One of the rules)
2. I always put in a SL and TP immediately. I place the order usually with the one click (left top little arrow on chart) and then modify immediately.
Never trade without a SL even if you sit in front of the screen monitoring it. You may get distracted and then something happens in the markets causing you to loose money.
  • #33,277
  • Nov 26, 2015 11:58am Nov 26, 2015 11:58am
Thank you! Let make it clear.
Quoting POC-Trader
{quote} I would say correct on most of the above EXCEPT: 1. No SELL at 1.06100 (One of the rules) 2. I always put in a SL and TP immediately. I place the order usually with the one click (left top little arrow on chart) and then modify immediately. Never trade without a SL even if you sit in front of the screen monitoring it. You may get distracted and then something happens in the markets causing you to loose money.
From "As simple as possible 00 level trading.doc":
Attached Image (click to enlarge)
Click to Enlarge Name: Без имени-1.jpg Size: 287 KB

As I can see all strategy author's entries made from 00 levels. So why not X.XX100? What do I read wrong?

And

What are your initial TP and SL?

Thank you!
Just an opinion. Based on research
  • #33,278
  • Nov 26, 2015 12:18pm Nov 26, 2015 12:18pm
Quoting since80808
So why not X.XX100? What do I read wrong?
rule # 5
Persistence will get it. Consistency will keep it.
  • #33,279
  • Nov 26, 2015 12:26pm Nov 26, 2015 12:26pm
Quoting since80808
Thank you! Let make it clear. {quote} From "As simple as possible 00 level trading.doc": {image} As I can see all strategy author's entries made from 00 levels. So why not X.XX100? What do I read wrong? And What are your initial TP and SL? Thank you!
I look at Support&Resistance levels which are not part of Udine's original rules.
I take 5 Pips profit and sometimes use the Wheelbarrel EA to Trailstop it or manually set trail stop for potential higher profits.
Stoploss usually 2-3 pips below the Support line if it is a BUY and 2-3 pips above Resistance line if a Sell.
Others use fix 15 Pips and variants thereof.
  • #33,280
  • Edited 2:09pm Nov 26, 2015 1:14pm | Edited 2:09pm
Friends'm trying to facilitate.

I'm leaving the two indicators image. Put the Forex Profit Supreme Meter Robinhoe the chart.
POST 28256
FOREXPROFITSUPREME ROBINHO 12
http://www.forexfactory.com/showthread.php?p=8154003


Then put the indicator CM Strength TF v1 03 times:
with 03 settings that are yellow in the image.
CM Strength TF v1
POST 12821
http://www.forexfactory.com/showthre...32236&page=642

I believe that with these 03 Time frames can facilitate friends.

For the screen goes black background, put all Graphic Properties (NONE)
Attached Image (click to enlarge)
Click to Enlarge Name: Força 15-30-60.png Size: 72 KB
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