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As simple as possible: 00 level trading

  • #34,641
  • Dec 28, 2016 1:19am Dec 28, 2016 1:19am
+20 on GBPNZD. Getting better at getting 1:1 risk reward.

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flipfloptrader forum
  • #34,642
  • Dec 28, 2016 1:51am Dec 28, 2016 1:51am
Quoting FlipFlopGC
+20 on GBPNZD. Getting better at getting 1:1 risk reward. {image}
hi
congrats for your trade!
can you kindly tell me why you chose the 1.77300 price level vs. the 1.77200 for your entry?
there is always, always another trade!!
  • #34,643
  • Dec 28, 2016 2:43am Dec 28, 2016 2:43am
Quoting profitfarmer
{quote} hi congrats for your trade! can you kindly tell me why you chose the 1.77300 price level vs. the 1.77200 for your entry?
Because price opened above 1.7730 at the top of the hour...
flipfloptrader forum
  • #34,644
  • Dec 28, 2016 6:53am Dec 28, 2016 6:53am
Quoting GreenEarth
UDINE , POST #879 Thank you for saving ME from ME !!!! Your post is going to be my trading mantra for the rest of my life. In my case , I THOROUGHLY ENJOYED WAY TOO MUCH SUCCESS TOO FAST , and then , everything blew up in my face , literally within 7 days. I "lost" $65,000.00 within 7 days. As I write this reply , I am NOT FEELING INVINCIBLE. I do have money available to me for use to recover. Thanks to your thread , it will be a long journey with a decisive plan which will force me to become an excellent trader and I KNOW THAT I CAN DO IT !!! I...
Good afternoon, I'd like to talk to you
  • #34,645
  • Dec 28, 2016 7:09am Dec 28, 2016 7:09am
Good afternoon Carneiro.
Regards ,
GreenEarth
"Define the risk OUT of your trade"--Mark Douglas
  • #34,646
  • Edited 12:35am Dec 30, 2016 12:08am | Edited 12:35am
Hi all,

is this system still working well?

i have read the word doc but i am quite confused on the description. hopefully someone can help me out

1) how is the red area on step 2 drawn? i understand the white color is the daily open but i do not know how the end of the red area is being defined

2) i don't understand the need to look at the 1h chart. since you are going to place order on london/frankfurt/ny/tokyo open, why does looking at the 1h chart going to help? or is it that you look at previous 1h bar to see if it is the same color as 1d in order to decide?

3) how do you draw the yellow dotted grid?

4) is the ADR refers to High - Low or Close - Open? i assume it is High - Low of daily bar?

5) the blue line on pg 5 is the Daily Open - ADR, right? if yes, what does pink and green line represent?

thanks a lot
Attached File(s)
File Type: doc As simple as possible 00 level trading.doc   774 KB | 737 downloads
  • #34,647
  • Dec 30, 2016 8:52am Dec 30, 2016 8:52am
Quoting GreenEarth
UDINE , POST #879 Thank you for saving ME from ME !!!! Your post is going to be my trading mantra for the rest of my life. In my case , I THOROUGHLY ENJOYED WAY TOO MUCH SUCCESS TOO FAST , and then , everything blew up in my face , literally within 7 days. I "lost" $65,000.00 within 7 days. As I write this reply , I am NOT FEELING INVINCIBLE. I do have money available to me for use to recover. Thanks to your thread , it will be a long journey with a decisive plan which will force me to become an excellent trader and I KNOW THAT I CAN DO IT !!! I...

Greenearth,

you're welcome.. Just one thought... forex is a marathon, not a sprint..

You prefer to get rich slowly or broker spectacularly fast ???

no need to make homeruns, just try to get to first base every time... it will get you in the HALL OF FAME of FOREX..

Green pips

Udine
Sleep less, live fast, as it aint gonna last
  • #34,648
  • Dec 30, 2016 8:54am Dec 30, 2016 8:54am
Wishing all a very happy, healthy and wealthy 2017 and that all your dreams may be realized!!

Green pips to all

Udine
Sleep less, live fast, as it aint gonna last
  • #34,649
  • Dec 30, 2016 7:20pm Dec 30, 2016 7:20pm
Any kind soul can reply my post no 34,648 ?

thank you and Happy New Year
  • #34,650
  • Dec 30, 2016 9:21pm Dec 30, 2016 9:21pm
Quoting Udine
Wishing all a very happy, healthy and wealthy 2017 and that all your dreams may be realized!! Green pips to all Udine

Wishing A Prosperous New Year to Udine and 00 Level Traders!

W E L C O M E, Y E A R 2 0 1 7 ! ! !

st888
  • #34,651
  • Dec 30, 2016 11:50pm Dec 30, 2016 11:50pm
Quoting tanwt
Any kind soul can reply my post no 34,648 ? thank you and Happy New Year
Tanwt,

start at page 1 and start reading it's all in the thread.

Udine
Sleep less, live fast, as it aint gonna last
  • #34,652
  • Edited 6:37am Jan 1, 2017 1:00am | Edited 6:37am
Quoting Udine
{quote} Tanwt, start at page 1 and start reading it's all in the thread. Udine
Thanks Udine. Looking into more detail + try to play around the chart and found some answers to some of my previous questions

Just to clarify because i can't find the answer even after i have looked through the 1st 10 pages. What does level 00 means? is that the close of each candle and it depends what time frame you are at?

Edit : I have search other thread for the meaning of 00. Now i understand 00 stands for the price with the last 2 digit with 00
  • #34,653
  • Jan 1, 2017 7:50am Jan 1, 2017 7:50am
UDINE , do you use stochastics in your trading and if you do what are your settings you use ? I plot a 20 period EMA and have been bouncing around using stochastics , CCI , and MACD. I see many traders using a 8, 5 5 setting on their MACD. I'm interested to find out what other traders are using and why they use specific settings.

Thank you for your words of inspiration UDINE !!

I wish you much success in 2017 !!
"Define the risk OUT of your trade"--Mark Douglas
  • #34,654
  • Jan 2, 2017 3:10am Jan 2, 2017 3:10am
now i understand more by looking into the mql4 codes

will try them out. cheers all
  • #34,655
  • Jan 2, 2017 12:00pm Jan 2, 2017 12:00pm
Quoting tanwt
{quote} Thanks Udine. Looking into more detail + try to play around the chart and found some answers to some of my previous questions Just to clarify because i can't find the answer even after i have looked through the 1st 10 pages. What does level 00 means? is that the close of each candle and it depends what time frame you are at? Edit : I have search other thread for the meaning of 00. Now i understand 00 stands for the price with the last 2 digit with 00

well done !!

Udine
Sleep less, live fast, as it aint gonna last
  • #34,656
  • Jan 2, 2017 12:05pm Jan 2, 2017 12:05pm
Quoting GreenEarth
UDINE , do you use stochastics in your trading and if you do what are your settings you use ? I plot a 20 period EMA and have been bouncing around using stochastics , CCI , and MACD. I see many traders using a 8, 5 5 setting on their MACD. I'm interested to find out what other traders are using and why they use specific settings. Thank you for your words of inspiration UDINE !! I wish you much success in 2017 !!
I try to use least amount of indicators possible. I trade now one of my systems that has basically no indicators at all..

But everybody needs to find something that works for them... as we all have different personalities, it means that something that works for me, does not work for you...

Simply find ONE system that works for you, that fits your personality like a glove, then throw out all the other stuff and become an expert on that system.

Its like what Bruce Lee said: " I don't fear the man who trained 10,000 kicks once, but I fear the man who trained 1 kick 10,000 times"

Your ONE system needs to be your ONE kick and then you can "scare" the sh*t out of Bruce Lee !!

and remember its a marathon, not a sprint..

cheers,

Udine
Sleep less, live fast, as it aint gonna last
  • #34,657
  • Jan 2, 2017 4:08pm Jan 2, 2017 4:08pm
UDINE , you amaze me since you used one of my idols in your description. My very first Karate Instructor , Sensei Jim Maloney, actually fought Bruce Lee. Bruce Lee could not hit him with his famous side kick , but , Sensei Maloney is a unique individual. Thank you very much for the reply and I do have my system which suits me and I am working on perfecting it. The variable that I have to work on is me , particularly my patience.
"Define the risk OUT of your trade"--Mark Douglas
  • #34,658
  • Edited 11:53pm Jan 2, 2017 10:05pm | Edited 11:53pm
Quoting Udine
{quote} I try to use least amount of indicators possible. I trade now one of my systems that has basically no indicators at all.. But everybody needs to find something that works for them... as we all have different personalities, it means that something that works for me, does not work for you... Simply find ONE system that works for you, that fits your personality like a glove, then throw out all the other stuff and become an expert on that system. Its like what Bruce Lee said: " I don't fear the man who trained 10,000 kicks once, but I fear the...
Hi Udine,

are you still trading using this system?

and what's the minimum ADR that you would recommend to use this?
  • #34,659
  • Jan 3, 2017 3:19am Jan 3, 2017 3:19am
Quoting LuXing
{quote} good. I won't be around til somewhere next year. Gotta spend some pips. Happy trading and remember: LuXing {image}
I couldn't find any better post than this one to remind you all of the above statement:
Attached Image (click to enlarge)
Click to Enlarge Name: Ashampoo_Snap_2017.01.03_02h20m44s_008_.png Size: 74 KB

You will be on the safe side always if you just stick to the simple rules. Read back to the posts where I've mentioned the magic on how currencies must be paired, accordingly listed and to be read on a csm.

Wishing you guys good luck and many green pips always.

nasap
The little nut in your head is called brain. Use it!
  • #34,660
  • Jan 3, 2017 7:17am Jan 3, 2017 7:17am
Quoting tanwt
{quote} Hi Udine, are you still trading using this system? and what's the minimum ADR that you would recommend to use this?

Tanwt,

the system still works perfectly, but I trade something else now, mainly DAX, super simple... but not going to share here..

cheers,

Udine
Sleep less, live fast, as it aint gonna last
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