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Highest Open / Lowest Open Trade

  • #41
  • May 12, 2016 8:51am May 12, 2016 8:51am
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Anyone trade THE BEAST?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #42
  • May 12, 2016 8:54am May 12, 2016 8:54am
Quoting TooSlow
{image} {image} {image} HIGHEST OPEN / LOWEST OPEN TRADE Place a line at the highest H1 open and lowest H1 open for the current day. Sell short at the highest H1 open after price goes up through it and comes back down. Buy at the lowest H1 open after price goes down through it and comes back up. Stop loss is the current daily high or current daily low. Adjust your position size accordingly. Take profit by moving stop up. When trade is +5 or more, move stop to BE+1. When trade is +10 or more, move to to BE+5, or switch to trailing stop. Optional...
H1 open value varies per broker and server.

what GMT do you suggest for most accuracy?
  • #43
  • May 12, 2016 8:58am May 12, 2016 8:58am
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One way to test a system is see if it holds true across the board.
The highest/lowest M30 open is a possibility.
The highest/lowest D1 open is another.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #44
  • May 12, 2016 9:02am May 12, 2016 9:02am
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In it to win it.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #45
  • May 12, 2016 9:04am May 12, 2016 9:04am
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Was last bar the lowest low of the day or could it go lower?
Who cares?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #46
  • May 12, 2016 9:09am May 12, 2016 9:09am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #47
  • May 12, 2016 9:17am May 12, 2016 9:17am
in the case of a NY open is the 1hour candle 7:00am to 8:00am or 8:00am to 9:00am?
What would you do if you knew you could not fail?
  • #48
  • May 12, 2016 9:21am May 12, 2016 9:21am
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What are the takeaways you can learn from this system?

- Trading can be simple
- Simple can be profitable
- Indicators are not necessary
- Waiting is necessary
- Trust your eyes
- Always use stops

Anyone care to add to the list?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #49
  • May 12, 2016 9:23am May 12, 2016 9:23am
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5 pips here.
10 pips there.
They add up!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #50
  • May 12, 2016 9:25am May 12, 2016 9:25am
Quoting The Sparrow
in the case of a NY open is the 1hour candle 7:00am to 8:00am or 8:00am to 9:00am?
8 am NY TIME.
The Forex Factory main page has a sessions block towards the bottom right.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #51
  • May 12, 2016 9:29am May 12, 2016 9:29am
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The M15 highest open is closer to the daily high than the H1 highest open.
The closer you get to the fire, the more likely you get burnt.
No risk, no reward.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #52
  • May 12, 2016 9:47am May 12, 2016 9:47am
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Sometimes there are a few chances per hour to enter/exit with a profit.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #53
  • May 12, 2016 9:54am May 12, 2016 9:54am
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We watched GBPUSD make a new daily high last hour.
Those who shorted the highest open and held were rewarded with over 20 pips profit.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #54
  • May 12, 2016 10:03am May 12, 2016 10:03am
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Possibility.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #55
  • May 12, 2016 10:05am May 12, 2016 10:05am
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Stop at BE+1
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #56
  • May 12, 2016 10:13am May 12, 2016 10:13am
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In it to win it.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #57
  • May 12, 2016 10:18am May 12, 2016 10:18am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #58
  • May 12, 2016 10:22am May 12, 2016 10:22am
There are a lot of members viewing.
Please feel free to post and share.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #59
  • May 12, 2016 10:46am May 12, 2016 10:46am
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Waiting
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #60
  • May 12, 2016 10:54am May 12, 2016 10:54am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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