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As simple as possible: 00 level trading

  • #34,221
  • May 20, 2016 1:00am May 20, 2016 1:00am
Quoting Masterrmind
{quote} Here is a trade I just took on the GJ pair at Tokyo Open {image} I simply followed the price action (PA) on the chart. Look at the previous few M5 candles and see how far price has traveled and the difficulty of price to push lower. Although price was under WR level do not be fooled by this because these levels are NOT actual price specific they should be considered as price zones especially if you look at them from a higher TF in which case they will look like the one level. I look for signs of slowing down of momentum (the selling force...
Many many thanks for an examples. "trading in the zone" also tells a lot about calm mind and reading market information all the time but trade examples are critical for stamps in my mind.

All the best!
"All will be correctly, in this world is built" - The Master and Margarita
  • #34,222
  • May 20, 2016 5:58am May 20, 2016 5:58am
Quoting Multimillion
{quote} Many many thanks for an examples. "trading in the zone" also tells a lot about calm mind and reading market information all the time but trade examples are critical for stamps in my mind. All the best!
It could almost be considered as an art form this FIFO type trading!

The more examples of charts you study (both the good trades and the bad trades) the more you start to see the reoccurring patterns.

Don't expect to get 100% right because every so often the market will throw a curved ball at you and take you by surprise (sort of like the GJ trade).

Experience is what counts and plenty of it but more important is the right type (look for the setups, decide to trade or not to trade and improve)

Good trading,

Masterrmind.........
Master your Mind then Master your Trades
  • #34,223
  • May 21, 2016 8:54am May 21, 2016 8:54am
bubincka,

kindly post your StrengthLines indi.

thanks.
  • #34,224
  • May 21, 2016 1:37pm May 21, 2016 1:37pm
Master your Mind then Master your Trades !! really great words. i just subscribed your thread :-)
  • #34,225
  • May 23, 2016 12:44am May 23, 2016 12:44am
Good start of the week:

#1 USDJPY to TP
#2 CADJPY to TP
#3 AUDJPY to TP

LuXing
Attached Image(s) (click to enlarge)
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Wisdom begins in wonder
  • #34,226
  • May 23, 2016 6:26am May 23, 2016 6:26am
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,

just a quick clarification on strengthening / weakening on (non daily open) other TFs. Everything is clear, but the calculation of the up / down arrows.
Is the direction of the arrow determined by :

(A) ccyH4strength(now) - ccyH4strength(4H ago) , ccyH1strength(now) - ccyH1strength(1H ago) , ccyM15strength(now) - ccyM15strength(15M ago)

or is it calculated in this way :

(B) ccyH4strength(now) - ccyH4strength(15M ago) , ccyH1strength(now) - ccyH1strength(15M ago) , ccyM15strength(now) - ccyM15strength(15M ago)

In other words are the differences for the H4, H1, M15 currency strengths calculated with respect to their last bar close for each TF or respect to 15 mis ago ?

Best regards,
Bubincka
Porta itineris dicitur longissima esse
  • #34,227
  • May 23, 2016 6:54am May 23, 2016 6:54am
Quoting bubincka
{quote} Hi LuXing, just a quick clarification on strengthening / weakening on (non daily open) other TFs. Everything is clear, but the calculation of the up / down arrows. Is the direction of the arrow determined by : (A) ccyH4strength(now) - ccyH4strength(4H ago) , ccyH1strength(now) - ccyH1strength(1H ago) , ccyM15strength(now) - ccyM15strength(15M ago) or is it calculated in this way : (B) ccyH4strength(now) - ccyH4strength(15M ago) , ccyH1strength(now) - ccyH1strength(15M ago) , ccyM15strength(now) - ccyM15strength(15M ago) In other words are...
KISS

For the arrows, I formatted it so that all values are simply looking one row "up", so M15 "looks" at H1, H1 "looks" at H4, ...
Of course, this can be done in many other ways, but I have grown used to looking at this.

LuXing
Attached Image
Wisdom begins in wonder
  • #34,228
  • May 23, 2016 6:59am May 23, 2016 6:59am
Very fashionable to buy JPY today...

CHFJPY to TP, a real FISO rather than FIFO
EURJPY to TP
GBPJPY to TP
AUDJPY to TP
CADJPY to TP
NZDJPY to TP

LuXing
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Wisdom begins in wonder
  • #34,229
  • May 23, 2016 7:19am May 23, 2016 7:19am
2 JPY buys 2 TP

Thanks you Udine for your awesome system, LUXING, MasterMind for your awesome inputs,
I have reading your post for past 2 weeks and finally plunged and guess what I have two TP's
  • #34,230
  • Edited 8:25am May 23, 2016 7:31am | Edited 8:25am
Quoting LuXing
{quote} KISS For the arrows, I formatted it so that all values are simply looking one row "up", so M15 "looks" at H1, H1 "looks" at H4, ... Of course, this can be done in many other ways, but I have grown used to looking at this. LuXing {image}
Hi LuXing, thank you for your reply.

To determine arrow direction, I compare current H4 strength with H4 strength calculated 4 hours ago, current H1 strength with H1 strength 1 hour ago and M15 strength with M15 strength calculated 15 mins ago. I don't know if in this way I've over-complicated things but it makes sense to me.

Best regards,
Bubincka
Porta itineris dicitur longissima esse
  • #34,231
  • May 23, 2016 8:02am May 23, 2016 8:02am
Quoting mjaved
2 JPY buys 2 TP Thanks you Udine for your awesome system, LUXING, MasterMind for your awesome inputs, I have reading your post for past 2 weeks and finally plunged and guess what I have two TP's


Let's see the charts !!!

LuXing
Wisdom begins in wonder
  • #34,232
  • May 23, 2016 8:04am May 23, 2016 8:04am
Attached Image (click to enlarge)
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  • #34,233
  • May 23, 2016 11:25am May 23, 2016 11:25am
Quoting Multimillion
{quote} and I bought exactly this pullback {image} ...
Mmmm, maybe set the ABR indi to 1.5-1.75 multiplier and dial up from M15 to H1 observing its value before entering ?
M30, but especially H1 would have come up in the red...

LuXing
Wisdom begins in wonder
  • #34,234
  • May 23, 2016 6:41pm May 23, 2016 6:41pm
gbpnzd +5

big spread to me 4.5
so its stronger
Attached Image (click to enlarge)
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  • #34,235
  • May 24, 2016 2:46am May 24, 2016 2:46am
Back to trading, FFO & LO sessions.

#1 GPBJPY to TP (x2)
#2 AUDUSD to TP
#3 USDCHF to TP
#4 USDJPY to TP (x2)
#5 EURUSD to SL : stupid error of the day, despite EJ has been below the DO since the opening I was fooled by a sudden burst in momentum. I had at least to wait for the pair to close above the DO as LuXing warned many times.

Bubincka
Attached Image(s) (click to enlarge)
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Porta itineris dicitur longissima esse
  • #34,236
  • May 24, 2016 5:45am May 24, 2016 5:45am
#1 CADJPY to TP

LuXing
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 65 KB
Wisdom begins in wonder
  • #34,237
  • May 24, 2016 5:55am May 24, 2016 5:55am
Quoting LuXing
#1 CADJPY to TP LuXing {image}
Hi LuXing, I took the same trade.
Having studied your trades (and before those of Masterrmind) begins to pay off.

#6 CADJPY to TP

Bubincka
Attached Image (click to enlarge)
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Porta itineris dicitur longissima esse
  • #34,238
  • May 25, 2016 12:25am May 25, 2016 12:25am
Bad start of the day. Beware of FFO false breakouts!

#1 CADJPY to SL : after having broken yesterday high it went almsot to TP and then turned to SL.

Bubincka
Attached Image (click to enlarge)
Click to Enlarge Name: CJ-SL.jpg Size: 262 KB
Porta itineris dicitur longissima esse
  • #34,239
  • May 25, 2016 3:09am May 25, 2016 3:09am
Quoting bubincka
{quote} Hi LuXing, I took the same trade. Having studied your trades (and before those of Masterrmind) begins to pay off. #6 CADJPY to TP Bubincka {image}
Really nice trade !!! Practice makes perfect.

LuXing
Wisdom begins in wonder
  • #34,240
  • May 25, 2016 3:14am May 25, 2016 3:14am
Quoting bubincka
Bad start of the day. Beware of FFO false breakouts! #1 CADJPY to SL : after having broken yesterday high it went almsot to TP and then turned to SL. Bubincka {image}
This one goes into the category "you can't win them all".
In itself a valid setup, but maybe avoid trading live during FF...
I took the same ( & AUDJPY), but on demo.

LuXing
Attached Image(s) (click to enlarge)
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Wisdom begins in wonder
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