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As simple as possible: 00 level trading

  • #34,181
  • May 16, 2016 10:09am May 16, 2016 10:09am
Quoting LuXing
{quote} Mmmm, there is a distinction to be made; 1. History / lookback. I save the last 8 hours for reference. 2. Strengthening / weakening on (non daily open) other TFs. I replace the high/low in the forexgrail spreadsheet (used to calculate the bidratio and currency strength) by a "floating" high/low. Simply said, at any moment it looks back 240 resp. 60 resp. 15 minutes. Its not rocket science, but I find it rather useful (see for instance NZD). The Modoki heatmap does a good job at this at well. LuXing {image} {image}
hi Luxing .. can you share that file .... upload that or inbox me..
  • #34,182
  • May 16, 2016 10:45am May 16, 2016 10:45am
Quoting Masterrmind
NJ +5 ish {image} Notes: TP set to 10 pips for this trade too and while I was posting the AU trade above price moved above the 5 pip mark and then down again before I closed it manually. Masterrmind..........
Nice, both AJ and NJ good for 5 pips, but (unfortunately) not much more.
Both ranging, like watching a jojo.

LuXing
Wisdom begins in wonder
  • #34,183
  • May 16, 2016 10:48am May 16, 2016 10:48am
Quoting LuXing
{quote} Nice, both AJ and NJ good for 5 pips, but (unfortunately) not much more. Both ranging, like watching a jojo. LuXing
Yes indeed!

I've been hunting for other pairs but most of them are very tightly range bound.

So that's me done for the night need some rest.

Take care,

Masterrmind..........
Master your Mind then Master your Trades
  • #34,184
  • May 16, 2016 10:49am May 16, 2016 10:49am
Quoting yasirhawk
{quote} hi Luxing .. can you share that file .... upload that or inbox me..
You can download the forexgrail spreadsheet in the attachments of this forum, our sisten dingdong99 posted a beautiful spreadsheet (based on forexgrail) on the basket trading forum, dtlase posted a nice spreadsheet on the gap trading thread.
Take your pick and customise it to your liking !

Happy trading.

LuXing
Wisdom begins in wonder
  • #34,185
  • May 16, 2016 2:02pm May 16, 2016 2:02pm
Quoting LuXing
{quote} Nice, both AJ and NJ good for 5 pips, but (unfortunately) not much more. Both ranging, like watching a jojo. LuXing
Yep, ranging.. look at my AJ ))
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 184 KB


Stay positive, Mm
"All will be correctly, in this world is built" - The Master and Margarita
  • #34,186
  • May 16, 2016 2:19pm May 16, 2016 2:19pm
Quoting Masterrmind
AU +5ish {image} TP set to 10 but closed out prior. Masterrmind............
Always interesting in what you look at during setting such a pending? I am steel late in many cases

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 106 KB

Stay positive Mm
"All will be correctly, in this world is built" - The Master and Margarita
  • #34,187
  • May 16, 2016 7:26pm May 16, 2016 7:26pm
Quoting LuXing
{quote} my own discretionary view of the market. About ten minutes ago I took this screenshot, see if this makes sense to you. Virtually all traded instruments can be categorised as risk or safe haven (safety). Risk instruments rise in times of optimism or accelerating economical growth. Safe haven instruments rise in times of pessimism. To translate this to currencies, those currencies that move up with other risk instruments (i.e. stocks) are risk currencies. The currencies that move in the same direction as safe haven instruments are so-called...
Wow, very cool stuff. I never really thought of it or heard anyone else describe it this way. That plus your next post is loaded with helpful info! A good compliment to posting charts, because most traders cannot describe what's going on in their head (it becomes subconscious, second nature stuff), but you can so that helps more than anything.
  • #34,188
  • May 16, 2016 7:28pm May 16, 2016 7:28pm
Quoting LuXing
{quote} Mmmm, there is a distinction to be made; 1. History / lookback. I save the last 8 hours for reference. 2. Strengthening / weakening on (non daily open) other TFs. I replace the high/low in the forexgrail spreadsheet (used to calculate the bidratio and currency strength) by a "floating" high/low. Simply said, at any moment it looks back 240 resp. 60 resp. 15 minutes. Its not rocket science, but I find it rather useful (see for instance NZD). The Modoki heatmap does a good job at this at well. LuXing {image} {image}
Yes I see that you are comparing this period with the previous one, but how does that help you? Do you want all of them to be arrows up, or all down, before you consider the trade? Thanks.

Side note: I modified a CSM indicator to show how CCT analyzes momentum; D.O., current Session and H1. When they all show the same divergence, they jump on the pair with a high degree of success. Another trader I studied trades Futures but watches all TFs (4?) down to the M1 because you will see the "turn" on the M1 first and they jump in to catch the new trend or reversal. The 2nd one was a bit frantic for me but it all makes sense; PA. Then of course, there's the James16 thread for those who really want to trade long term PA. Always follow the successful people and learn from them.
  • #34,189
  • May 16, 2016 10:36pm May 16, 2016 10:36pm
Quoting Multimillion
{quote} Always interesting in what you look at during setting such a pending? I am steel late in many cases {image} Stay positive Mm
Explain what you mean by late?

Are you referring to conducting:

1. the chart analysis prior to a pending order being set

2. the pair or pairs to trade

3. the timing of the trade

4. something else

Masterrmind........... :nerd:
Master your Mind then Master your Trades
  • #34,190
  • May 16, 2016 10:42pm May 16, 2016 10:42pm
Quoting Multimillion
{quote} Yep, ranging.. look at my AJ )) {image} Stay positive, Mm
I'm not going to tell you to get rid of half the indicators from your chart but I must say with such a vast array of items and colors on your chart perhaps this has something to do with choosing a pair or pairs in a timely manner.

Just apply to the chart the very minimum you need to make a trading decision and not more.

Too many changing colors, makes the decision process a whole lot harder and a whole lot slower.

Just my opinion........

ps. Its always the trader who has to make the final decision and apply what works for them (but do watch out for information overload)

Good trading,

Masterrmind........... :nerd:
Master your Mind then Master your Trades
  • #34,191
  • May 17, 2016 1:26am May 17, 2016 1:26am
EJ +5ish

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 49 KB


Long from the 600 level

Manual close at about the 5 pip mark (trade set up with a 10 pip TP)

ps. Frankfurt Open so only the 1 trade!

Perhaps I should have let the trade run a bit longer huh??

Price action .............

Attached Image
............

Masterrmind........
Master your Mind then Master your Trades
  • #34,192
  • May 17, 2016 1:34am May 17, 2016 1:34am
Quoting ericjschroed
{quote} Yes I see that you are comparing this period with the previous one, but how does that help you? Do you want all of them to be arrows up, or all down, before you consider the trade? Thanks. Side note: I modified a CSM indicator to show how CCT analyzes momentum; D.O., current Session and H1. When they all show the same divergence, they jump on the pair with a high degree of success. Another trader I studied trades Futures but watches all TFs (4?) down to the M1 because you will see the "turn" on the M1 first and they jump in to catch the...
I am studying the gap trading system, which is based on this.
It also serves as a simple reference, to know which pairs have been strong/weak during the last 8 hours.

AUDJPY & GBPJPY to TP

LuXing
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 81 KB
Click to Enlarge Name: Screenshot2.png Size: 74 KB
Wisdom begins in wonder
  • #34,193
  • May 17, 2016 1:36am May 17, 2016 1:36am
Quoting Masterrmind
EJ +5ish {image} Long from the 600 level Manual close at about the 5 pip mark (trade set up with a 10 pip TP) ps. Frankfurt Open so only the 1 trade! Perhaps I should have let the trade run a bit longer huh?? Price action ............. {image} ............ Masterrmind........
Nice one !

Let's not get too greedy hey

LuXing
Wisdom begins in wonder
  • #34,194
  • May 17, 2016 1:40am May 17, 2016 1:40am
Quoting LuXing
{quote} I am studying the gap trading system, which is based on this. It also serves as a simple reference, to know which pairs have been strong/weak during the last 8 hours. AUDJPY & GBPJPY to TP LuXing {image} {image}
I was certainly tempted by the GJ trade but following the old rules of only taking trades from the 400, 500 or 600 levels during FF session.

Cost me some profit!

Masterrmind............
Master your Mind then Master your Trades
  • #34,195
  • May 17, 2016 1:42am May 17, 2016 1:42am
Quoting LuXing
{quote} Nice one ! Let's not get too greedy hey LuXing
But you took 2 trades.

I only took 1.

I was also nice enough to cut potential profit in half by closing manually for about 5 pips instead of 10.

Masterrmind............
Master your Mind then Master your Trades
  • #34,196
  • May 17, 2016 1:59am May 17, 2016 1:59am
Quoting Masterrmind
{quote} But you took 2 trades. I only took 1. I was also nice enough to cut potential profit in half by closing manually for about 5 pips instead of 10. Masterrmind............
Such a gentleman you are MM !

Let's see what London brings...

LuXing
Wisdom begins in wonder
  • #34,197
  • May 17, 2016 2:08am May 17, 2016 2:08am
Quoting LuXing
{quote} Such a gentleman you are MM ! Let's see what London brings... LuXing
Plenty of opportunities await!

Masterrmind............
Master your Mind then Master your Trades
  • #34,198
  • May 17, 2016 2:14am May 17, 2016 2:14am
GU +5

ps. could have got 10 again ..........

Masterrmind............
Master your Mind then Master your Trades
  • #34,199
  • May 17, 2016 2:14am May 17, 2016 2:14am
Quoting Masterrmind
{quote} Plenty of opportunities await! Masterrmind............
True, just got to take the right ones.

LuXing
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 90 KB
Wisdom begins in wonder
  • #34,200
  • May 17, 2016 2:27am May 17, 2016 2:27am
Bit far up in its range, but still plenty of momentum to get pips out of it.

LuXing
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 81 KB
Wisdom begins in wonder
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