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As simple as possible: 00 level trading

  • #33,421
  • Dec 8, 2015 3:39pm Dec 8, 2015 3:39pm
Hi LuXing!
Can you share some good heatmap? I looked in FF, but in quick search nothing worth downloading.
  • #33,422
  • Dec 8, 2015 3:41pm Dec 8, 2015 3:41pm
Quoting BLACKFEET
{quote} Hi, LuXing Please, could you "explain" your trade : AUD/CHF ? Thanks in Advance. Best regards BBF
No.

I will explain you something I deem of much more importance, I believe you will learn more from it.
It will hopefully help you and others to look at things from a different perspective.

If you look at any well calibrated version of the currency strength meter, you will notice that the arithmetic mean of 8 currencies is always 4.5, the minimum 0, the maximum 9, the sum of all is 36 no matter what happens.
What does this mean ? If money flows out of one currency, it needs to flow into another (or various other) currency to keep things in balance (read: for the sum to remain 36).

Now, the interesting thing for me is "where does it flow from/to" ???
I distinguish 3 to 4 axis.

1. The commodity pairs (AUD, CAD, NZD)
2. EUR & GBP
3. USD & JPY
4. The Swissie

Possibly we will soon have a 5th axis, the Yuan being included in the IMFs SDR basket.
But for now, we will conveniently leave that out of the equation.

So, what are the worlds biggest economies/monetary powers of those 3-4 axis ? Could it be USD and JPY ???
I think so and it is in these 2 currencies where most of the money flow will generally take place.
Its friggin great trading when both USD and JPY are rock bottom or sky high. Why ?
Because in essence you are following the "big players" money (go with the trend, right) !!!
Look again at post 33421 and you tell me from where to where the moneys flowing.
Notice AUD, NZD and CAD ? Look at USD and JPY going hand in hand...
Big money buying into Swissie as well.

There s many mixes and re-mixes of this tune, we ll get to that in another post.

LuXing

P.S: These are just my observations/opinions and as such have nothing to do with 00-level trading.
Wisdom begins in wonder
  • #33,423
  • Dec 8, 2015 3:49pm Dec 8, 2015 3:49pm
Quoting Masterrmind
EURUSD [M5] +5 TP {image} Pending Buy Stop via MT4 and closed by EA.... out of NY open...... Masterrmind...........
Great to see you MM !
Hope all´s well ???
I think I speak on behalf of all here: Please keep posting your "Cirque du Soleil" charts.

LuXing
Wisdom begins in wonder
  • #33,424
  • Dec 8, 2015 4:16pm Dec 8, 2015 4:16pm
Quoting todamoon
Hi LuXing! Can you share some good heatmap? I looked in FF, but in quick search nothing worth downloading.
Robinho is your man. Look at his posts and dig it up in the attachments.
Otherwise, Modoki heatmap s quite good as well, you can find it in gvc´s dashboard trading thread.

LuXing
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 156 KB
Wisdom begins in wonder
  • #33,425
  • Dec 8, 2015 4:22pm Dec 8, 2015 4:22pm
Quoting LuXing
{quote} Great to see you MM ! Hope alls well ??? I think I speak on behalf of all here: Please keep posting your "Cirque du Soleil" charts. LuXing
+1
Multimillion
"All will be correctly, in this world is built" - The Master and Margarita
  • #33,426
  • Dec 8, 2015 4:24pm Dec 8, 2015 4:24pm
Quoting LuXing
{quote} No. I will explain you something I deem of much more importance, I believe you will learn more from it. It will hopefully help you and others to look at things from a different perspective. If you look at any well calibrated version of the currency strength meter, you will notice that the arithmetic mean of 8 currencies is always 4.5, the minimum 0, the maximum 9, the sum of all is 36 no matter what happens. What does this mean ? If money flows out of one currency, it needs to flow into another (or various other) currency to keep things...
Nice job & good description!

Multimillon
"All will be correctly, in this world is built" - The Master and Margarita
  • #33,427
  • Dec 8, 2015 7:49pm Dec 8, 2015 7:49pm
Quoting Soros
{quote} By Far one of the greatest here on FF!!! Today was a very tough day for EURJPY and there was signals that made a loss, i dont understand how everybody else managed to leave that pair and not even touch it, maybe im missing something or maybe im just stupid but i do want to learn so im gona ask, personaly i managed to stay out because i reached my target on the second hour of trading so i was lucky, some of the trades the other guys took on other pairs i took the exact identical trades and got the exact results...
Thanks for the kind words .... it is appreciated!

I hope it is self explanatory for the EJ pair of which I too looked into trading it but it failed the entry criteria.

Note 1: that the only valid entry was @ 133.500 to the downside however price never reached this level and therefore NO trade.

Note 2: long trades for EJ out of NY Open last night also failed the entry criteria since D1 and H1 candle colors did not match, price was under the DO line indicating Red D1 candle and H1 was green @ the 1st level UP.

Please examine the attached annotated chart in detail and let me know if you have any further questions.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 33 KB


Masterrmind..........
Master your Mind then Master your Trades
  • #33,428
  • Dec 8, 2015 8:01pm Dec 8, 2015 8:01pm
Quoting LuXing
{quote} Great to see you MM ! Hope alls well ??? I think I speak on behalf of all here: Please keep posting your "Cirque du Soleil" charts. LuXing
You are very welcome LuXing.......

It's amazing to see how many traders are doing so well in this 00 method now and I think it has a lot to do with traders being highly motivated and very dedicated.

The ones that bother to learn it and apply it correctly by looking for the best setups to come along will do very well indeed!

Great to see the continued enthusiasm.

Masterrmind..........
Master your Mind then Master your Trades
  • #33,429
  • Dec 8, 2015 8:07pm Dec 8, 2015 8:07pm
Quoting Multimillion
{quote} +1 Multimillion
Thanks Multimillion ..........

Masterrmind...........
Master your Mind then Master your Trades
  • #33,430
  • Dec 8, 2015 10:54pm Dec 8, 2015 10:54pm
Quoting Soros
{quote} By Far one of the greatest here on FF!!! Today was a very tough day for EURJPY and there was signals that made a loss, i dont understand how everybody else managed to leave that pair and not even touch it, maybe im missing something or maybe im just stupid but i do want to learn so im gona ask, personaly i managed to stay out because i reached my target on the second hour of trading so i was lucky, some of the trades the other guys took on other pairs i took the exact identical trades and got the exact results...
=====================================================

Soros, let me show you my take on EJ yesterday. I took trade here as posted on 33406 post. Note that I work with SL 10 15 20 according to situation on chart and TP is open it goes. So, it is not fixed as original Udine set up.

General situation is as follows, that is why happened what happened. There was no more space for movement.

Orange rectangle is a huge harmonic pattern.

Blue rectangles mark harmonic patterns within , where each of harmonic pattern ALWAYS contain AB=CD as marked by magenta diagonal lines.

Also there is light brown horizontal checkered line - supply demand level to be observed which eventually served as double top of second harmonic pattern.

Then you have 88.6% retracement which is end of orange pattern.

I marked 3 possible entries - 1st is below DO line and 2 other are just above DO line.

There are plenty AB=CD patterns seen.

All entries are after harami candlestick pattern....

Chart is crowded but if one studies it for a while it all makes sense.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY+M15+explanation.png Size: 124 KB
  • #33,431
  • Dec 9, 2015 1:31am Dec 9, 2015 1:31am
Quoting snail69
{quote} ===================================================== Soros, let me show you my take on EJ yesterday. I took trade here as posted on 33406 post. Note that I work with SL 10 15 20 according to situation on chart and TP is open it goes. So, it is not fixed as original Udine set up. General situation is as follows, that is why happened what happened. There was no more space for movement. Orange rectangle is a huge harmonic pattern. Blue rectangles mark harmonic patterns within , where each of harmonic pattern ALWAYS contain AB=CD as marked...
Nice description Snail , little bit opened the idea behind your ABCD trades, but not enough to used it in practice like it is. Interested one should deper dive in harmonic rules and patterns....

Thanks, stay positive! Multimillion
"All will be correctly, in this world is built" - The Master and Margarita
  • #33,432
  • Dec 9, 2015 1:51am Dec 9, 2015 1:51am
Wow!!

Firstly i would like to humble myself and thank everybody that responded, you guys are so helpful and i thank you for taking time to respond. MasterMind was right when he told me that when you use this method you cant use it blindly, there are other factors that you need to consider that will compliment this method and when i read all the responses i see that its true.

I see a lot of people doing really good in this method and soon i will also be in that list, and i know it will take lots of effort and hard work.



Soros!
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #33,433
  • Dec 9, 2015 2:12am Dec 9, 2015 2:12am
Good morning friends...

The big secret is patience.

Look at the chart in 30 in 30 minutes.

Look only pair 1x8 or 2x8 or 2x8 or 2x7

Work only with 12 pairs.

The remaining time will tell ... practice, practice and practice into account DEMO
  • #33,434
  • Dec 9, 2015 2:29am Dec 9, 2015 2:29am
DAILY TARGET REACHED!!!!!!!!!!!!!!!!!!!!!!! 3.6%!!!!!!
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #33,435
  • Dec 9, 2015 2:52am Dec 9, 2015 2:52am
We CAN NOT REALLY USE THE METHOD blindly. THE OPERATOR MUST HAVE SOME KNOWLEDGE OF MINIMUM CRITERIA BASIC.
SEE IMAGE ... EURO WAS STRONG ... BUT SEE HOW MANY ELEMENTS ... WE MUST TAKE CARE,,, as does GBPUSD
Attached Image (click to enlarge)
Click to Enlarge Name: eURO FORTE MAS....png Size: 71 KB
  • #33,436
  • Dec 9, 2015 3:38am Dec 9, 2015 3:38am
Quoting hassan_salar
{quote} Agreeeeed Checked my full potential list of the day (done automatically)
Hi

What method do you use to create an automated list? The spreadsheets as discussed in this thread or another method?
  • #33,437
  • Dec 9, 2015 4:03am Dec 9, 2015 4:03am
today London was about AUD.

AJ 1st trade closed and then when realized that we are heading into an ABCD, opened immediately new trade.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDJPY+M15+p.png Size: 94 KB
Click to Enlarge Name: AUDUSD+M15+p.png Size: 88 KB
  • #33,438
  • Dec 9, 2015 4:24am Dec 9, 2015 4:24am
Searching around for a 5 pip setup and found this one..........

EURNZD [M5]

+5 TP

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 54 KB


yes I know the spreads a bit ugly but still profit in my pocket!

Masterrmind...........
Master your Mind then Master your Trades
  • #33,439
  • Dec 9, 2015 5:26am Dec 9, 2015 5:26am
First of all: big thanks to the senior traders here for sharing their analysis and insights to yesterday trades. Really insightful and highly appreciated!

My trades from this morning:
Trade #1&2: EURUSD to TP (both)
Trade #3: GBPUSD to TP

Both were not exactly 1x8, 2x8 ,.... as described by Robinho..., but I was watching strength carefully at this moment and there was clear development in the right direction... at least my analysis :nerd:

Attached Image (click to enlarge)
Click to Enlarge Name: 20151209_LT_M15_EURUSD(1).PNG Size: 29 KB


Attached Image (click to enlarge)
Click to Enlarge Name: 20151209_LT_M15_GBPUSD(1).PNG Size: 28 KB
  • #33,440
  • Dec 9, 2015 6:33am Dec 9, 2015 6:33am
Quoting LuXing
{quote} Right, lets see. No time for feedback on the charts, but a couple of observations. 1. EAUD & ECAD have "high" candle sizes in pips, see screenshot below. On top of that, I see a whopping 3+ pips spread. What happens when you set a pending to go long at lets say .200 ? You get filled when price reaches .170, if price only pulls back half of the ABR your screwed with a 10 pip SL. My advice: stay clear of these pairs (for now). 2. You trade AUD and CAD, but how come youre not watching these in psy levels ? 3. EURGBP is (like ECHF) a typical...
Many thanks LuXing. Really appreciate all the advice from the seasoned traders here, every little piece of info helps with the big picture. I'm still very new with this method but am going to stick with it.

Didn't have much time to trade London session today, but will look to incorporate your advice. I need to be a bit more selective about my pairs, probably a little too focused on the CSM and not looking at spreads etc. Gonna adjust my Psy and stick with a smaller grouping of pairs.

Kefx
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