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Highest Open / Lowest Open Trade

  • #16,421
  • May 25, 2022 11:25am May 25, 2022 11:25am
Quoting mizi123
Worth to bee monitored for trade in next hour {image}
Risk free
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  • #16,422
  • May 25, 2022 2:55pm May 25, 2022 2:55pm
Quoting HengkiTjen
{quote} Thanks man for help, could you please share indicator please ? i think my set-up is wrong thanks heaps
It's all about risk management at the end of the day.
  • #16,423
  • May 25, 2022 3:19pm May 25, 2022 3:19pm
I HAVE READ POST #1 AND THE EXAMPLE LINKS BUT I STILL HAVE A QUESTION


i've been trading this systems rules to a tee, wait for m15 to open in aoi. no trade on any breakout bars. enter on spread dots, sl at dailyhigh/dailylow. i started out on just one pair, but i have the entry method and rules down to a tee i think so now i'm trading a few. i'm still not profitable. i'm losing .5% every day on average, risking .33% a trade. this week so far, my trades look like this:

audjpy: 1 loss, 1 be+1, 2 be+5. overall, -.12%
audusd: 1 loss, 2 be+1, 1 be+5, 1 be+10. overall, +.09%
eurgbp: 1 loss. overall -.33%.
eurjpy: 3 loss, overall -.99%.
eurusd: 1 loss, 1 be+1. overall, -.32%
gbpusd: 1 loss. overall, -.33%
usdcad: 1 be+1. overall, +.06%.
usdchf, 1 loss. overall, -.33%.
usdjpy, 2 loss, 2 be+1, 1 be+20. overall, -.22%.

sitting at ~-2.5% for the week so far.

am i doing something wrong? i basically trade the entire trading day, and try to take every trade i can that follows the rules.
  • #16,424
  • May 26, 2022 3:38am May 26, 2022 3:38am
This is losing Trade, Entry valid but just less than 5 mins hit SL
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  • #16,425
  • May 26, 2022 8:30am May 26, 2022 8:30am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #16,426
  • May 26, 2022 8:32am May 26, 2022 8:32am
Quoting heyitsme
I HAVE READ POST #1 AND THE EXAMPLE LINKS BUT I STILL HAVE A QUESTION... am i doing something wrong? i basically trade the entire trading day, and try to take every trade i can that follows the rules.

Beginners do not get to trade multiple pairs until they have mastered trading one single pair.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #16,427
  • May 26, 2022 8:20pm May 26, 2022 8:20pm
Quoting heyitsme
I HAVE READ POST #1 AND THE EXAMPLE LINKS BUT I STILL HAVE A QUESTION i've been trading this systems rules to a tee, wait for m15 to open in aoi. no trade on any breakout bars. enter on spread dots, sl at dailyhigh/dailylow. i started out on just one pair, but i have the entry method and rules down to a tee i think so now i'm trading a few. i'm still not profitable. i'm losing .5% every day on average, risking .33% a trade. this week so far, my trades look like this: audjpy: 1 loss, 1 be+1, 2 be+5. overall, -.12% audusd: 1 loss, 2 be+1, 1 be+5,...

For whatever it's worth I've found there's usually a good trade around the Sydney/Tokyo opens on the yen pairs. Trade less, trade quality setups.
  • #16,428
  • May 26, 2022 11:41pm May 26, 2022 11:41pm
Quoting B.C
{quote} For whatever it's worth I've found there's usually a good trade around the Sydney/Tokyo opens on the yen pairs. Trade less, trade quality setups.
Quoting heyitsme
am i doing something wrong? i basically trade the entire trading day, and try to take every trade i can that follows the rules.
I agree, now that you traded all the pairs all day long it's time to choose the best setup by selecting the best time and the most reliable pair, this can only be achieved if you know your pair well, know when the action starts and know when to expect a fake move that will stop you out prematurely, you should have rare losses, a few BE+1, some +5 and a fewer +10 to +20, but overall positive not negative
take a look at UJ yesterday and today, nice clean setups and profitable, sure some fake moves but nevertheless profitable or at worst BE+1.
Hope this helps
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  • #16,429
  • May 27, 2022 4:04am May 27, 2022 4:04am
Quoting TooSlow
{quote} Beginners do not get to trade multiple pairs until they have mastered trading one single pair.
How do we know or measure that one has mastered a particular pair?
Sorry if its a stupid question.
  • #16,430
  • May 27, 2022 5:57am May 27, 2022 5:57am
AUDJPY out at BE+1

Would appreciate any comments, suggestion and guidance.
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  • #16,431
  • May 27, 2022 6:00am May 27, 2022 6:00am
Same thing here.. AUDUSD Out at BE+1.
Am I doing something wrong?
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  • #16,432
  • May 27, 2022 6:18am May 27, 2022 6:18am
Second attempt on AUDUSD
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  • #16,433
  • May 27, 2022 6:56am May 27, 2022 6:56am
+5 on GBPCHF
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  • #16,434
  • May 27, 2022 8:06am May 27, 2022 8:06am
Quoting nonibadsha
{quote} How do we know or measure that one has mastered a particular pair? Sorry if its a stupid question.
I think by looking at your trades, the more consistent profit you get the more you will have mastered it, and BE+1 is better than a loss, so cheer up
  • #16,435
  • May 27, 2022 9:44am May 27, 2022 9:44am
@TooSlow
How do you deal with trends if the strategy works on reversals? For example, ranging market between High Open and Low Open of the day, then suddenly you get consecutive candles forming new Low Opens. As per the strategy, each of which we'd expect to buy once the price breaks above the new Low Open, only for it to reverse 5 minutes later and keep going down to form the bearish trend. How do you deal with this?
Thanks.
  • #16,436
  • May 27, 2022 11:39am May 27, 2022 11:39am
Quoting nonibadsha
+5 on GBPCHF {image}

hi can you share your template ?
  • #16,437
  • May 27, 2022 4:30pm May 27, 2022 4:30pm
Quoting nonibadsha
{quote} How do we know or measure that one has mastered a particular pair? Sorry if its a stupid question.
When you are profitable consistently.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #16,438
  • May 27, 2022 4:31pm May 27, 2022 4:31pm
Quoting Chubby
@TooSlow How do you deal with trends if the strategy works on reversals? For example, ranging market between High Open and Low Open of the day, then suddenly you get consecutive candles forming new Low Opens. As per the strategy, each of which we'd expect to buy once the price breaks above the new Low Open, only for it to reverse 5 minutes later and keep going down to form the bearish trend. How do you deal with this? Thanks.
Wait for the opportunity to enter.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #16,439
  • May 29, 2022 2:24pm May 29, 2022 2:24pm
Quoting Bmurat2009
{quote} hi can you share your template ?
Attached File(s)
File Type: tpl HOLO.tpl   13 KB | 558 downloads
  • #16,440
  • May 29, 2022 11:53pm May 29, 2022 11:53pm
Who is taking the 10 trade challenge the week of May 29, 2022?

During the challenge, you are only to trade the same pair.

Beginners do not get to trade multiple pairs until they have mastered trading one single pair.

GREEN PIPS TO ALL.
Cheers!

PLEASE READ ALL OF POST #1
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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