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As simple as possible: 00 level trading

  • #33,741
  • Feb 29, 2016 3:17pm Feb 29, 2016 3:17pm
I read and reread the thread and again Udine rules and your response many times, thx, if I do not undestand I ask, many many thanks very clear...I remain to test GJ and EJ maybe I take only one! BRN 93.000 94.000 157.000 158.000, low spread maybe very low for me, less risky! Many thanks I will show you my first good tread after what your explanation!
  • #33,742
  • Feb 29, 2016 3:47pm Feb 29, 2016 3:47pm
Quoting ender600ro
I read and reread the thread and again Udine rules and your response many times, thx, if I do not undestand I ask, many many thanks very clear...I remain to test GJ and EJ maybe I take only one! BRN 93.000 94.000 157.000 158.000, low spread maybe very low for me, less risky! Many thanks I will show you my first good tread after what your explanation!
I suggest EU, EJ and UJ. These are very liquid and therefore low spread pairs. Learn to watch price action of these pairs and only trade during LO until London close. Try to be serious about trading, this is one of the hardest businesses in the world (but also one of the best). Learn to focus, be disciplined and patient about this. This is no sprint, it's a marathon that you will have to master. Make a little progress every day and be happy about it. This will build your confidence.

If you think this is a get rich scheme then many traders (including myself) are happy to take your money from you. Wish you all good luck for your journey to reach the holy grail.
  • #33,743
  • Feb 29, 2016 4:34pm Feb 29, 2016 4:34pm
Quoting Sniper1310
{quote} I suggest EU, EJ and UJ. These are very liquid and therefore low spread pairs. Learn to watch price action of these pairs and only trade during LO until London close. Try to be serious about trading, this is one of the hardest businesses in the world (but also one of the best). Learn to focus, be disciplined and patient about this. This is no sprint, it's a marathon that you will have to master. Make a little progress every day and be happy about it. This will build your confidence. If you think this is a get rich scheme then many traders...
Thank you Sniper for your suggestions...think I start to learn hard 1 mouth ago I have PDF but I have the job too and I wish to learn but I try to find the gap for my trading becouse I am home after 5 PM GMT and I start to 7 AM GMT so becouse I work in London I lost that very important hours LO open and close too and NY open...when I cam hove I make the trade in conditions of the market afte 5 PM for understnd better the sistem wark, for me is very easy but Luxing give a big "kick" to understand a couple of thinks and I see him and you and another people here are very good and very learn!!! I not the last thank you for your help!


Alin
  • #33,744
  • Mar 1, 2016 2:39am Mar 1, 2016 2:39am
Hello

please I need a clear reply
I've been studying this sys and reading this thread
I still missing some subtile nuances
please take a look at my today GJ chart
please ignore previous trade(little blue arrows on Metatrader)

this is the scenario:
we have GJ previous H1 candle Green
Daily Candle is Green
London starts and first M15 is a red candle
price goes slightly down under 157.70,and now is at 157.64

is it correct to place a pending longat 157.70 ,like I did in the snapshot live?

thx
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DO UT DES
  • #33,745
  • Mar 1, 2016 2:39am Mar 1, 2016 2:39am
Today´s first one in the pocket: CADJPY +7.5 pips

LuXing
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Wisdom begins in wonder
  • #33,746
  • Mar 1, 2016 3:32am Mar 1, 2016 3:32am
demo test.
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  • #33,747
  • Mar 1, 2016 6:36am Mar 1, 2016 6:36am
Quoting ender600ro
{quote} Thank you Sniper for your suggestions...think I start to learn hard 1 mouth ago I have PDF but I have the job too and I wish to learn but I try to find the gap for my trading becouse I am home after 5 PM GMT and I start to 7 AM GMT so becouse I work in London I lost that very important hours LO open and close too and NY open...when I cam hove I make the trade in conditions of the market afte 5 PM for understnd better the sistem wark, for me is very easy but Luxing give a big "kick" to understand a couple of thinks and I see him and you...
It seems to me that because of lack of time necessary for this system you try and "force" the trades. This will lead you in the wrong direction and will cause a lot of frustration.
One main points of this system (like other systems that minimize time in the market) is that you must be able to trade the first few hours of market openings (LO is the best and NYO is ok too). because this is the time where the liquidity is high due to an increasing number of participants. For me this system requires a lot of screentime because it is not "fire and forget". Instead you will need a basic understanding how everything works, watch the price action and pull the trigger if a opportunity comes your way.

I do not want to talk you out of it but imho you need a system that fits your life and due to time constraints you should look at the higher TFs and find a system there. In the end it is totally your decision but did you consider to be a brain surgeon in your spare time? I bet, you won´t and guess why. Because you wouldn´t be very successful at all. The same thing goes for trading.

Best regards
  • #33,748
  • Mar 1, 2016 7:40am Mar 1, 2016 7:40am
Quoting the bourne
Hello please I need a clear reply I've been studying this sys and reading this thread I still missing some subtile nuances please take a look at my today GJ chart please ignore previous trade(little blue arrows on Metatrader) this is the scenario: we have GJ previous H1 candle Green Daily Candle is Green London starts and first M15 is a red candle price goes slightly down under 157.70,and now is at 157.64 is it correct to place a pending longat 157.70 ,like I did in the snapshot live? thx {image}
Nope, not correct.

Look at your H1 trend indicator and you have the answer. As soon as it flips to green, trend wise you would be good to go.
My first London candle open for GBPJPY was 157.718, which would make any level from 157.750 and upwards your first potential entry level.

LuXing
Wisdom begins in wonder
  • #33,749
  • Mar 1, 2016 7:45am Mar 1, 2016 7:45am
Quoting Lioe
demo test. {image} {image} {image} {image} {image} {image}


A couple of remarks / observations.

Frankfurt Open tends to be really complicated. Today it all worked out nicely (no false breakouts), but in future you might consider to wait until London Open.
Why did you get in so late on AUDJPY and got out with only 3.7 pips ?
I see in your GBPJPY chart that you are working with a 20 pip stop. You better have a hitrate in excess of 90% or this will not be profitable....

Green pips and all the best !

LuXing

EDIT: looking at your charts again there´s another doubt I have regarding the previous candle before entry. I will ask Jibalapasan, maybe she can clarify.
Wisdom begins in wonder
  • #33,750
  • Mar 1, 2016 8:33am Mar 1, 2016 8:33am
Quoting Sniper1310
{quote} It seems to me that because of lack of time necessary for this system you try and "force" the trades. This will lead you in the wrong direction and will cause a lot of frustration. One main points of this system (like other systems that minimize time in the market) is that you must be able to trade the first few hours of market openings (LO is the best and NYO is ok too). because this is the time where the liquidity is high due to an increasing number of participants. For me this system requires a lot of screentime because it is not "fire...
Hello all! Yes is true I force becouse I test me to see if I understand the system! I am very patient person and I work all my life with pc is not a reason for me to be frustrated after 1 mouth to read and translate this thread( sry for my english I hope to not bed understand me). I need than 10 pips for me it is enough I don't want to go in a Hole of Frames I want to make my life better than today, that's it, to help my mom and to offer to my son wharver he want I am not greedy I am gteedy to learn bit not to earn! I am newbie and no one of us born trader all of us learn to be a pro, I need your help to understand that system and maybe in some day I will thanks you face to face...I have a poor live and I don't have 100 pound to start but I want yo learn with you or without I just need that 10 pips. I start and finish babypips school and I start again...and I will learn but I need help like more as, and I have your help before today, thanks you so much and God bless you all!
  • #33,751
  • Mar 1, 2016 12:13pm Mar 1, 2016 12:13pm
Quoting Lioe
demo test. {image} {image} {image} {image} {image} {image}
Lioe, please see this post courtesy of Jibalapasan and compare against your charts

LuXing
Wisdom begins in wonder
  • #33,752
  • Mar 1, 2016 12:41pm Mar 1, 2016 12:41pm
I waiting first 00 from new hour candle,small spread, adr seems ok...to second trade I break that BRN rules on second...all pending! I hope it is ok!
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  • #33,753
  • Mar 1, 2016 12:53pm Mar 1, 2016 12:53pm
Quoting ender600ro
I waiting first 00 from new hour candle,small spread, adr seems ok...to second trade I break that BRN rules on second...all pending! I hope it is ok! {image} {image}
Mmm, your EURJPY trade is not a 00 or 50 level entry !
Pending buy/sell stops only at these levels..... No market orders and getting in somewhere half way.

As far as your USDJPY trade is concerned, you can trade BRN (000 levels) no problem.
BUT: there is something seriously wrong with your ADR indicator and you need to check that....
ADR of the last 5 days on USDJPY is not 244 pips as yours indicates, but 128 pips.

LuXing
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Wisdom begins in wonder
  • #33,754
  • Mar 1, 2016 1:19pm Mar 1, 2016 1:19pm
Can I have an indicator for right ADR pls? I read about this BRN and RN on babypips and maybe I understand wrong I must re go and start to real carfuly again ( Distance to BRN > 10 pips) Thanks Luxing!



p.s I have xadr2 or 3 and I remember fine when I delete it becouse frezze my Mt4

p.s. 2 I hope I fix it!
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  • #33,755
  • Mar 1, 2016 2:22pm Mar 1, 2016 2:22pm
Read the entire thread or use the search function and you would have found this

LuXing
Attached Image
Wisdom begins in wonder
  • #33,756
  • Mar 1, 2016 4:56pm Mar 1, 2016 4:56pm
Quoting LuXing
Read the entire thread or use the search function and you would have found this LuXing {image}
Thank you! It that what I search
  • #33,757
  • Mar 2, 2016 10:01am Mar 2, 2016 10:01am
Quoting LuXing
{quote} Nope, not correct. Look at your H1 trend indicator and you have the answer. As soon as it flips to green, trend wise you would be good to go. My first London candle open for GBPJPY was 157.718, which would make any level from 157.750 and upwards your first potential entry level. LuXing
Hello
thx LuXing for your reply and for posting so much charts
I'm missing a piece of the puzzle though

I suppose you pick your pairs based on ADR\ATR and a good strenght currency meter
I went back to your posts and attachments,and back again to GAP excel thread,but I couldn't make Excel files work on my windows PC

could you suggest some good strenght currency metatrader indicator alternatives?

and about your charts,I can see you use M30 candles with H4 candles in the background.
My actual limitation now is that I get "frozen" after the first London trade
in a few words,I still don't have the guts to take following hours trades like you and Udine do

and I've learned that THIS IS NOT a simple nitty gritty system
you have made a lot a lot of hard work and put your questions to other traders at the beginning of your journey
that's why you are profitable with this sys

thx
DO UT DES
  • #33,758
  • Mar 2, 2016 1:21pm Mar 2, 2016 1:21pm
Quoting the bourne
{quote} Hello thx LuXing for your reply and for posting so much charts I'm missing a piece of the puzzle though I suppose you pick your pairs based on ADR\ATR and a good strenght currency meter I went back to your posts and attachments,and back again to GAP excel thread,but I couldn't make Excel files work on my windows PC could you suggest some good strenght currency metatrader indicator alternatives? and about your charts,I can see you use M30 candles with H4 candles in the background. My actual limitation now is that I get "frozen" after the...
Good currency meter ? Look in the attachments, barely 2 weeks ago I posted a really good one.
Making forexgrail and the gap Excel work on your PC might take a bit of effort, but I am confident you will manage if you persist.

You get frozen ? Maybe move to a warmer country ?
I cannot speak for Udine, but only for myself.
Trading is not an easy job, it requires learning to embrace uncertainty.
Embracing that uncertainty is paradoxical to human nature and to most things we are led to believe.
Believe me, you are not the only trader "lacking guts" from time to time (or after the first trade).
See living proof below in the charts, yours truly should have taken those trades...

Nothing in life is simple, nothing is black or white but there are many greys.
Only once you know where white or black starts and act accordingly, you will be consistently profitable.

All the best and green pips to you !

LuXing
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Wisdom begins in wonder
  • #33,759
  • Mar 2, 2016 6:13pm Mar 2, 2016 6:13pm
thx LuXing
I managed to make Speedometer V4 excel work on my Pc
no way for foregrail excel ,the file seems to be too much old and does not update in the usual mode

about GAP trading ,it seems that the only source for the original method explanation are these fragmentary posts by MariaLuiza
and the final touch is the poor English explanation she gave (no offense)

so about GAP Excel we have:

 

  1. lack of infos
  2. not clear rules
  3. poor explanation


I will try the hard way by myself in the next days,maybe your RH CCY Magic could be enough for trades picking
but watching the Speedometer V4 running and updating on my PC,without even knowing how to use it,it's a pain and a pity
it's like to have a Ferrari in the box without the keys

and the proper thread for that file "MT4 Trading the GAP With Excel" is a spin-off from GVC Dashboard huge thread, and again a lot of infos and possible variations to digest,it's just like a matrioska
you really never know when you will find the final doll

any help is appreciated

bye

DO UT DES
  • #33,760
  • Mar 3, 2016 12:43am Mar 3, 2016 12:43am
Quoting the bourne
{quote} Hello thx LuXing for your reply and for posting so much charts I'm missing a piece of the puzzle though I suppose you pick your pairs based on ADR\ATR and a good strenght currency meter I went back to your posts and attachments,and back again to GAP excel thread,but I couldn't make Excel files work on my windows PC could you suggest some good strenght currency metatrader indicator alternatives? and about your charts,I can see you use M30 candles with H4 candles in the background. My actual limitation now is that I get "frozen" after the...
Hello all! I restart to read again the thread and I find comments of Robino Cucle and anhother an I want to make same question but I don't know witch meter is good many saids in a way another in another way ) Luxing it is one of the best what can help us with some trick! Thanks and have a green day!
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