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Attachments: Trading is as simple as 1-2-3
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Trading is as simple as 1-2-3

Quoting SunnyFx2002
{quote} Great question TooSlow. My whole "method" is about trading with the flow of the market using Daily Fractal Breaks and Supply and Demand Zones. Using your 1-2-3 Entry method trading in the direction of the Market Flow from SD zones should really assist me in greatly improving my reward to risk on my trades while at the same time simplify my entries as the rules (IMHO) are solid and will stop me from trying to read too much into what the candlesticks "might" be telling me. Less subjectivity means better execution. Cheers Sunny

Hey Sunny,

Interesting idea = Using your 1-2-3 Entry method trading in the direction of the Market Flow from Supply Demand Zones. Very specific on the entry into a Zone. Just need to very specific on TP. Even if you get stopped out, you can re-enter, especially when Money pops the other side of the Zone grabbing more positions going the wrong way.

This is what I like about other's and their methods.. Is there opportunity..??? NOT the standard " that doesn't work crap " It may or it may not.. but what is important is the way traders approach different methods and ideas. Positive ! ... Not negative as we see so many times here on FF.


TSD
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Trade entered at bar[0] open (solid brown line). Stop in place.

I repeat this so new comers don't have to go back to the first post.


A bar makes a NEW DAILY high and closes. Next bar fails to make a higher high and reverses. Sell when price drops below the open price of the current bar.

A bar makes a NEW DAILY low and closes. Next bar fails to make a lower low and reverses. Buy when price rises above the open price of the current bar.

Let me rephrase in the form of yes/no or true/false questions.

1) Did a new daily high or new daily low happen during the previous bar. If YES/TRUE go to question 2, otherwise find another pair.

2) Did this bar test ( get near ) the new daily high or new daily low of the previous bar. If YES/TRUE go to question 3, otherwise find another pair.

3) Has price returned to the open price of the current bar. If YES/TRUE enter the trade in the direction price is crossing the open, otherwise do not enter the trade.

"Successful people ask better questions, and as a result, they get better answers." - Tony Robbins

Socratic method is named after the classical Greek philosopher Socrates. It is a form of inquiry and discussion between individuals, based on asking and answering questions to stimulate critical thinking and to illuminate ideas.


Please understand none of this is original or new and this is presented for EDUCATIONAL PURPOSES ONLY. You may find your results may differ. Please check with an accredited financial specialist before using real money. FOREX trading can be risky. YOU HAVE BEEN WARNED!
My Thread: Trading is as simple as 1-2-3
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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When price does not go above the bar[0] open price, what is the market telling you?

"Successful people ask better questions, and as a result, they get better answers." - Tony Robbins

Socratic method is named after the classical Greek philosopher Socrates. It is a form of inquiry and discussion between individuals, based on asking and answering questions to stimulate critical thinking and to illuminate ideas.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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Waiting for entry has its rewards.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
Quoting TooSlow
{image} When price does not go above the bar[0] open price, what is the market telling you? "Successful people ask better questions, and as a result, they get better answers." - Tony Robbins Socratic method is named after the classical Greek philosopher Socrates. It is a form of inquiry and discussion between individuals, based on asking and answering questions to stimulate critical thinking and to illuminate ideas.
Then market is telling me:closing price bar(0)will be below his open price which does mean for your method not entry long trade.
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Next hour.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
Quoting Red Pirate
{quote} Then market is telling me:closing price bar(0)will be below his open price which does mean for your method not entry long trade.

Red Pirate, solid analysis.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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Waiting
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
Yesterday was pretty slow. Time to think. Realized there is a big difference between deduction and assumption.

A candle or bar displays certain facts - where the open, high, low and close occurred. From this point forward, a trader can make deductions or assumptions.

What deductions can a trader make by looking at the last candle to close? What assumptions?



"Successful people ask better questions, and as a result, they get better answers." - Tony Robbins

Socratic method is named after the classical Greek philosopher Socrates. It is a form of inquiry and discussion between individuals, based on asking and answering questions to stimulate critical thinking and to illuminate ideas.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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"There is a reason we tend to undervalue old ideas:

At first glance, we just see an idea that has been around for a long time. We incorrectly assume that familiar ideas provide average results. “Everyone does it this way, so it can’t be that great … right?”

What we fail to understand is that the fundamentals are not merely a collection of good ideas. The fundamentals are a collection of good ideas that outlasted thousands of bad ideas." - James Clear

...


"Furthermore, Id like to propose that sometimes the creative thing to do is to actually practice the fundamentals more consistently than everyone else. Most people dont fully use the knowledge they already have. As I have written previously, Everybody already knows that is very different from Everybody already does that."

- James Clear





There is a whole lot of wisdom there.

Questions?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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2 Key Characteristics of Mental Toughness

Self-Control -The ability to control your emotions and behaviors to push forward in the right direction in order to achieve your goals. Self-control is that thing that makes you go practice when you feel like hanging out with your friends. Self-control helps overcome the temptation of slacking off or going through the motions even after a bad performance.

Persistence - The ability to stay motivated and focused despite obstacles. Persistence is what bridges the gap between goal and its achievement. Persistence is “keeping your eyes on the prize” when things are not going as planned. - Dr. Patrick Cohn
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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Next hour...
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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I repeat this so new comers don't have to go back to the first post.


A bar makes a NEW DAILY high and closes. Next bar fails to make a higher high and reverses. Sell when price drops below the open price of the current bar.

A bar makes a NEW DAILY low and closes. Next bar fails to make a lower low and reverses. Buy when price rises above the open price of the current bar.

Let me rephrase in the form of yes/no or true/false questions.

1) Did a new daily high or new daily low happen during the previous bar. If YES/TRUE go to question 2, otherwise find another pair.

2) Did this bar test ( get near ) the new daily high or new daily low of the previous bar. If YES/TRUE go to question 3, otherwise find another pair.

3) Has price returned to the open price of the current bar. If YES/TRUE enter the trade in the direction price is crossing the open, otherwise do not enter the trade.

"Successful people ask better questions, and as a result, they get better answers." - Tony Robbins

Socratic method is named after the classical Greek philosopher Socrates. It is a form of inquiry and discussion between individuals, based on asking and answering questions to stimulate critical thinking and to illuminate ideas.


Please understand none of this is original or new and this is presented for EDUCATIONAL PURPOSES ONLY. You may find your results may differ. Please check with an accredited financial specialist before using real money. FOREX trading can be risky. YOU HAVE BEEN WARNED!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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Entry made. Stops in place.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
Attached Image (click to enlarge)
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Next hour...
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
Attached Image (click to enlarge)
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Entry at open. Stops in place.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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I repeat this so new comers don't have to go back to the first post.


A bar makes a NEW DAILY high and closes. Next bar fails to make a higher high and reverses. Sell when price drops below the open price of the current bar.

A bar makes a NEW DAILY low and closes. Next bar fails to make a lower low and reverses. Buy when price rises above the open price of the current bar.

Let me rephrase in the form of yes/no or true/false questions.

1) Did a new daily high or new daily low happen during the previous bar. If YES/TRUE go to question 2, otherwise find another pair.

2) Did this bar test ( get near ) the new daily high or new daily low of the previous bar. If YES/TRUE go to question 3, otherwise find another pair.

3) Has price returned to the open price of the current bar. If YES/TRUE enter the trade in the direction price is crossing the open, otherwise do not enter the trade.

"Successful people ask better questions, and as a result, they get better answers." - Tony Robbins

Socratic method is named after the classical Greek philosopher Socrates. It is a form of inquiry and discussion between individuals, based on asking and answering questions to stimulate critical thinking and to illuminate ideas.


Please understand none of this is original or new and this is presented for EDUCATIONAL PURPOSES ONLY. You may find your results may differ. Please check with an accredited financial specialist before using real money. FOREX trading can be risky. YOU HAVE BEEN WARNED!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
Hi TooSlow,

Interesting method you have here. Am I correct in the assessment ?

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Current chart of the 60M

Thanks

TSD
Quoting TooSlow
{quote} I have favorites
And what are they? If it's not a secret
Hello TooSlow!
I saw this situation several times.

Candle #1 made ne daily low
Candle #2 tested new low and returned to its open price
Here I entered long (at the open price of the candle #2), TP=10, SL=daily low+spread
Then price moved down again and made new dily low + hit my SL

What did I do wrong?
Thank you!
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