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As simple as possible: 00 level trading

  • #34,701
  • Jan 17, 2017 4:59am Jan 17, 2017 4:59am
Currency strengths chart 4 mins before NYO!

Best regards,
Bubincka
Attached Image (click to enlarge)
Click to Enlarge Name: 4-mins-to-NYO.jpg Size: 96 KB
Porta itineris dicitur longissima esse
  • #34,702
  • Edited 8:38am Jan 19, 2017 7:47am | Edited 8:38am
Hi friends...

@Udine's SUMMARY TRADING RULES:

"14. Stop Loss 10 pips"
"15. Take profit 5 pips"

Are these values for a 4 digit broker or a 5 digit broker?
I use a 5 digit broker (TickMill ECN-Pro)

In this case, should my TP be "50" pips or only "5" pips?
  • #34,703
  • Jan 19, 2017 7:49am Jan 19, 2017 7:49am
Quoting oguz
Hi friends... @Udine's SUMMARY TRADING RULES: "14. Stop Loss 10 pips" "15. Take profit 5 pips" Are these values for a 4 digit broker or a 5 digit broker? I use a 5 digit broker (TickMill ECN-Pro) In this case, should my TP be "50" pips or "5" pips? Thank you.
"5" pips
  • #34,704
  • Jan 19, 2017 8:44am Jan 19, 2017 8:44am
Quoting suirad0
{quote} "5" pips
For 5-Digits broker only "5" pips!
Thank you very much for your support my friend


By the way,

I'm using "RobinhoEA" made from @sevan62 below thread,
http://www.forexfactory.com/showthread.php?t=583311

In this ea's settings "Luxing Level" value is set to "11" as default and i am using it too.

But when Luxing Level is "11", expert catches the market trend very late

It opens orders close to the end of the trend frequently.
I changed Luxing Level value but i could not catch the market trend earlier. Although I entered several different values, i could not have it open earlier orders.

I am very pleased if the users of this EA share their suggestions and some "Luxing Level" values for to catches trendy early.
Thank you...
  • #34,705
  • Jan 20, 2017 11:58pm Jan 20, 2017 11:58pm
Quoting oguz
Hi friends... @Udine's SUMMARY TRADING RULES: "14. Stop Loss 10 pips" "15. Take profit 5 pips" Are these values for a 4 digit broker or a 5 digit broker? I use a 5 digit broker (TickMill ECN-Pro) In this case, should my TP be "50" pips or only "5" pips?
For 5-digit broker it will be 100 and 50.
  • #34,706
  • Jan 21, 2017 2:42am Jan 21, 2017 2:42am
Quoting Batus66
{quote} For 5-digit broker it will be 100 and 50.
I think so too.
Because "5" pips is a very low value for a 5-Digit broker!
  • #34,707
  • Jan 21, 2017 3:22am Jan 21, 2017 3:22am
No

5 pips = 5 pips does not matter what kind off broker you have.

5 pips = 50 points/pipettes, that's how the smallest unit at a 5 digit broker is called.

http://www.babypips.com/school/presc...-pipettes.html
Persistence will get it. Consistency will keep it.
  • #34,708
  • Jan 22, 2017 2:59am Jan 22, 2017 2:59am
Quoting Chake
No 5 pips = 5 pips does not matter what kind off broker you have. 5 pips = 50 points/pipettes, that's how the smallest unit at a 5 digit broker is called. http://www.babypips.com/school/presc...-pipettes.html
This debate has become unknown!
I want to get clear information if possible.

I am using Tickmill broker (ECN-Pro, 5-Digits)
In this case,

Should my target TP be "5" pips or "50" pips?
  • #34,709
  • Jan 22, 2017 4:42am Jan 22, 2017 4:42am
Quoting oguz
{quote} This debate has become unknown! I want to get clear information if possible. I am using Tickmill broker (ECN-Pro, 5-Digits) In this case, Should my target TP be "5" pips or "50" pips?
Chake is right. 5 pips are 5 pips no matter what broker you are using. Coming back at your question you need to aim for 50 pipettes which translate to 5 pips.

Explanation: The smallest increment at a 5 digit-broker is 1 pipette. Since 10 pipettes equal 1 pip you need to enter 50 pipettes to get 5 pips. Hope that helps.
  • #34,710
  • Jan 22, 2017 2:37pm Jan 22, 2017 2:37pm
Quoting Sniper1310
{quote} Chake is right. 5 pips are 5 pips no matter what broker you are using. Coming back at your question you need to aim for 50 pipettes which translate to 5 pips. Explanation: The smallest increment at a 5 digit-broker is 1 pipette. Since 10 pipettes equal 1 pip you need to enter 50 pipettes to get 5 pips. Hope that helps.
@Sniper,
Thank you very much detailed info.
  • #34,711
  • Jan 26, 2017 8:37am Jan 26, 2017 8:37am
Quoting LuXing
{quote} Nice GU trade ! "taking multiple trades on the same base currency i.e weak JPY" JPY is never the base currency, but always the quote currency. But I do understand what you mean. "you're relying on that currency to continue the displayed strengh/weakness?" Yes, but taking 2 shorts against USD at 2% risk, or 1 short against USD at 4% results in having the same financial exposure but with less risk spreading. In a sense, exposure to currency X is of course 2, 3 or even 4 fold if opening multiple trades against that particular currency. Sometimes,...
Are you done yet with your yacht vacation? Thanks for sharing. A lot of good info here guys.
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #34,712
  • Jan 31, 2017 2:04pm Jan 31, 2017 2:04pm
I dont like the R:R Ratio on this strategy because you need to win 2 trades to even out 1 loosing trade.What if i use a 15 pip takeprofit and 10pip stoploss?
  • #34,713
  • Feb 3, 2017 4:59pm Feb 3, 2017 4:59pm
Quoting FriendTrend
I dont like the R:R Ratio on this strategy because you need to win 2 trades to even out 1 loosing trade.What if i use a 15 pip takeprofit and 10pip stoploss?
You are the trader, you have to decide your own MM. Udine's MM works for him but you must choose what you are comfortable with if you want to succeed. Others here have changed the MM to suit their personality and trading style. Try what you suggested for 50-100 trades and see if it works for you.
  • #34,714
  • Feb 5, 2017 11:54pm Feb 5, 2017 11:54pm
Posting a couple of trades taken this morning at FFO to keep the thread alive. USD strong while EUR and and JPY weak on both D1 & H1 timeframes.

#1 USDJPY long to TP
#2 EURUSD short to TP

Best regards,
Bubincka
Attached Image(s) (click to enlarge)
Click to Enlarge Name: UJ-TP.jpg Size: 198 KB
Click to Enlarge Name: EU-TP.jpg Size: 200 KB
Porta itineris dicitur longissima esse
  • #34,715
  • Feb 6, 2017 7:55am Feb 6, 2017 7:55am
CAD getting trounced today as well. Weak on D1 and H1 charts as well. Thanks for the charts as well.
"Define the risk OUT of your trade"--Mark Douglas
  • #34,716
  • Feb 11, 2017 10:24am Feb 11, 2017 10:24am
Quoting Udine
Hi all, FOR ALL THE PEOPLE CHECKING IN.. WELCOME AND REALIZE THAT ALTHOUGH WE ARE IN THE COMMERCIAL CONTENT SECTION OF FF.COM, HERE IS ALL FOR FREE.. THE ONLY EXPENSES YOU WILL EVER HAVE, IS THAT WHEN WE EVER MEET, YOU PAY FOR A COFFEE CHEERS UDINE I have not been around for a while, and some people requested me how I trade nowadays, so I thought to present you with my “trading method”. BTW: this “so called trading method” is nothing original, I invented nothing new here !!! I post it in a Word doc., as I cannot stain my eyes too much, still...
Dear friends,
The first message here is that everything is written in detail but the system's TF is not specified.
What is the TF of @Udine's system?
  • #34,717
  • Feb 11, 2017 10:33am Feb 11, 2017 10:33am
Quoting oguz
{quote} Dear friends, The first message here is that everything is written in detail but the system's TF is not specified. What is the TF of @Udine's system?

Please look carefully at the screenshots in the thread.

http://www.forexfactory.com/showthre...53#post7508353

You will find your answer.
  • #34,718
  • Feb 14, 2017 12:59am Feb 14, 2017 12:59am
Not much volatility today after LO, very few chances to enter the market. As somebody (Master LuXing) correctly noted 00/50 levels are meant to be lines in the sand to give orientation, I was a bit late nevertheless decided to enter long at market following EUR strength and momentum against USD. Same entry, two different trade managers, one based on ATR(M15) and the other on market strength-

#1 EURUSD long to TP
#2 EURUSD long to TP

Best regards
Bubincka
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Global_MKT.jpg Size: 143 KB
Click to Enlarge Name: EU-TP_1_ATR.jpg Size: 203 KB
Click to Enlarge Name: EU-TP_1_AMS.jpg Size: 191 KB
Porta itineris dicitur longissima esse
  • #34,719
  • Feb 17, 2017 12:17am Feb 17, 2017 12:17am
My trades today, strength values converged giving a classic double setup: EURUSD short & USDCHF long.

#1 EURUSD short to TP
#2 USDCHF long to TP

Best regards,
Bubincka
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU-TP.jpg Size: 168 KB
Click to Enlarge Name: UCHF-TP.jpg Size: 167 KB
Porta itineris dicitur longissima esse
  • #34,720
  • Feb 17, 2017 3:59am Feb 17, 2017 3:59am
My today
EURUSD 1xTP, 1xBE
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_00.jpg Size: 187 KB
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