Wisdom begins in wonder
As simple as possible: 00 level trading
- #34,001
- Apr 8, 2016 2:25am Apr 8, 2016 2:25am
- Joined Jan 2015 | Status: Error 404: LuXing not found | 1,586 Posts
- #34,002
- Apr 8, 2016 3:14am Apr 8, 2016 3:14am
- Joined Nov 2009 | Status: You are what you is | 1,962 Posts
{quote}Textbook precision shooting. Only 2 possibilities in the 28 pairs. This one and NZDUSD short at the BRN at the same time (which was slightly more risky). LuXing
I'd like to test Tokio session, but at present I need some hours of sleep to do my daily job.
Best regards,
Bubincka
Porta itineris dicitur longissima esse
Asian session trades: #1 EURJPY to TP #2 AUDJPY to TP #3 CADJPY to TP LuXing {image} {image} {image}
nice madeLoking yesterday J move where you expected for an retrace on H4 during taking this breakouts in opposite direction to yesterday direction?
Stay Positive, MM
"All will be correctly, in this world is built" - The Master and Margarita
- #34,004
- Apr 8, 2016 4:54am Apr 8, 2016 4:54am
- Joined Jan 2015 | Status: Error 404: LuXing not found | 1,586 Posts
{quote}
1. JPY consistently strong during the last couple of days
2. Yesterday, all JPY crosses stopped dead in their tracks
3. All those pairs are (partly) retracing
One could say that JPY was overbought (or the other pairs maybe oversold).
When all JPY crosses bottomed out, I knew it was highly likely that a correction would take place.
Therefore I traded Tokyo, watching the usual currency strength and taking as a potential first barrier the first fib level into account.
Look at NZDJPY, nice example. Exactly 1.5 hours after London Open, PA hit the first imaginary barrier and bounced back.
Of course during Tokyo all those barriers were still miles away, which means less risk
LuXing
Wisdom begins in wonder
- #34,005
- Apr 8, 2016 8:43am Apr 8, 2016 8:43am
- Joined Nov 2009 | Status: You are what you is | 1,962 Posts
And finally it came. The only guilty of this bad outcome is of course myself coupled with my inability to avoid trading when there aren't good setups. It's a matter a patience and discipline, a 100% psychological issue. Luckily I've just began to read "Trading in the zone" a book that advised me Luxing and seems to deal with all distorted behaviors and to provide some solutions. I'm referring to stoploss hit by AUDCHF trade.
#1 AUDCHF - SL
#2 USDJPY - TP
#3 AUDJPY - TP
Bubincka
#1 AUDCHF - SL
#2 USDJPY - TP
#3 AUDJPY - TP
Bubincka
Porta itineris dicitur longissima esse
- #34,006
- Apr 8, 2016 8:58am Apr 8, 2016 8:58am
- Joined Jan 2015 | Status: Error 404: LuXing not found | 1,586 Posts
And finally it came. The only guilty of this bad outcome is of course myself coupled with my inability to avoid trading when there aren't good setups. It's a matter a patience and discipline, a 100% psychological issue. Luckily I've just began to read "Trading in the zone" a book that advised me Luxing and seems to deal with all distorted behaviors and to provide some solutions. I'm referring to stoploss hit by AUDCHF trade.
13h15 my broker time (which is GMT +2) the H4 turned green and entry at the 200 level (M15 candle marked with the blue line) would have given you a TP.
I never enter during the last 15 minutes of the H1 candle, ever...
Reason for that is that if strength and momentum have been insufficient during the first 45 minutes, I personally believe it reduces chances of getting a trade to TP.
Please bear in mind that this is what I do. It does not mean that it's right or wrong, that you or other traders should or should not do it...
LuXing
Wisdom begins in wonder
{quote} Hi, at the bottom is CURRENCY indi from Robinho files. {file} And I am using it with 60 min settings to see CS from last hour. Hope I am right with understanding of it's logic.. {image} One with buttons can help to switch fast between the currencies but it lagging for me.. {file} But remember - a lot of indies in the chart it is not good. I am just experimenting with CS monitoring.. Stay positive, Multimillion
I am sorry if I am wrong but setting on the indy shows 1440, which is 1 day (24) hours. -60 is just a shift in time.
- #34,008
- Apr 8, 2016 9:51am Apr 8, 2016 9:51am
- Joined Jan 2015 | Status: Error 404: LuXing not found | 1,586 Posts
Wisdom begins in wonder
- #34,009
- Apr 8, 2016 10:02am Apr 8, 2016 10:02am
- Joined Jan 2015 | Status: Error 404: LuXing not found | 1,586 Posts
Wisdom begins in wonder
- #34,012
- Apr 8, 2016 11:30am Apr 8, 2016 11:30am
- Joined Jan 2015 | Status: Error 404: LuXing not found | 1,586 Posts
Wisdom begins in wonder
- #34,013
- Apr 8, 2016 11:38am Apr 8, 2016 11:38am
- Joined Jan 2015 | Status: Error 404: LuXing not found | 1,586 Posts
Wisdom begins in wonder
- #34,014
- Apr 9, 2016 6:59am Apr 9, 2016 6:59am
- Joined Nov 2009 | Status: You are what you is | 1,962 Posts
{quote} I never enter during the last 15 minutes of the H1 candle, ever... Reason for that is that if strength and momentum have been insufficient during the first 45 minutes, I personally believe it reduces chances of getting a trade to TP. LuXing {image}
And indeed yes, it was a late entry, if it was a good setup at all.
Best regards,
Bubincka
Porta itineris dicitur longissima esse
- #34,015
- Apr 11, 2016 8:50am Apr 11, 2016 8:50am
- Joined Jan 2015 | Status: Error 404: LuXing not found | 1,586 Posts
Wisdom begins in wonder
- #34,016
- Apr 11, 2016 8:54am Apr 11, 2016 8:54am
- Joined Jan 2015 | Status: Error 404: LuXing not found | 1,586 Posts
{quote} Here's another precious insight I never thought of.
If you're interested, you can find the entire book here and its exec summary here
LuXing
Wisdom begins in wonder
- #34,017
- Apr 11, 2016 9:10am Apr 11, 2016 9:10am
- Joined Nov 2009 | Status: You are what you is | 1,962 Posts
Over what reported by LuXing, I was distracted by other affairs and took only one trade.
#1 USDCHF to TP
#1 USDCHF to TP
Porta itineris dicitur longissima esse
- #34,018
- Apr 11, 2016 9:38am Apr 11, 2016 9:38am
- Joined Nov 2009 | Status: You are what you is | 1,962 Posts
Please allow me to write down some phrases from it. The following is particularly well suited to me.
"Don't just do something for the sake of doing something -- make sure it helps you
If it is to your advantage, make a forward move; if not, stay where you are."
This other is well suited to UDINE's system the way it's mostly traded now, i.e. based on strengths.
"He will win who knows how to handle both superior and inferior forces."
This last is addressed to everybody as it is pure truth and pure wisdom.
"If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle."
LuXing, thank you one more time for addressing all of us towards what can make the difference.
Best regards,
Bubincka
Porta itineris dicitur longissima esse
interesting... will look at it, thanks - #34,020
- Edited 2:45am Apr 12, 2016 2:24am | Edited 2:45am
- Joined Nov 2009 | Status: You are what you is | 1,962 Posts
My trades this morning at LO. Waited about 5 mins letting the market to take its direction. USD and JPY were weak while AUD was strong since a while.
#1 AUDUSD to TP
#2 AUDJPY to TP --> when this exceeded 5 pips I closed it manually (+6.4 pips) because I saw that JPY strength was striking back.
Bubincka
#1 AUDUSD to TP
#2 AUDJPY to TP --> when this exceeded 5 pips I closed it manually (+6.4 pips) because I saw that JPY strength was striking back.
Bubincka
Porta itineris dicitur longissima esse