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Highest Open / Lowest Open Trade

  • #11,781
  • Oct 9, 2017 9:10am Oct 9, 2017 9:10am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #11,782
  • Oct 10, 2017 7:14am Oct 10, 2017 7:14am
Just by following the rules I'm already avoiding losses.

Doing the 10 trade-challenge on USD/JPY (using the M5 bars as entries). I had 2 winners yesterday (good entries following all the rules).
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  • #11,783
  • Oct 10, 2017 9:15am Oct 10, 2017 9:15am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #11,784
  • Oct 10, 2017 9:17am Oct 10, 2017 9:17am
Quoting Rfs199
Just by following the rules I'm already avoiding losses. Doing the 10 trade-challenge on USD/JPY (using the M5 bars as entries). I had 2 winners yesterday (good entries following all the rules). {image}
Amazing!
Someone actually follows rules.
Outstanding!
Continue on.

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #11,785
  • Oct 11, 2017 4:39am Oct 11, 2017 4:39am
https://imgur.com/NHAKhCc

Hei, is it correct Holo entry on UJ ?
  • #11,786
  • Oct 11, 2017 7:39am Oct 11, 2017 7:39am
Quoting netas369
https://imgur.com/NHAKhCc Hei, is it correct Holo entry on UJ ?
Why did you enter there and not in the previous bar? (Maybe your entry is correct if you're using H1 bars as entries, but I can't really see the open price, maybe zooming in a little and using the indicator provided here might help out).
  • #11,787
  • Oct 11, 2017 7:47am Oct 11, 2017 7:47am
If anyone's using M1 bars as entries maybe you caught this run on the UJ. No entry for me, since I'm using M5 bars. I'm just watching this pair and sitting on my hands, which is better than a bad entry.

I got a winner yesterday @Asian Session though!
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  • #11,788
  • Oct 11, 2017 8:13am Oct 11, 2017 8:13am
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  • #11,789
  • Oct 11, 2017 9:58am Oct 11, 2017 9:58am
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Waiting pays off
  • #11,790
  • Oct 12, 2017 3:42am Oct 12, 2017 3:42am
Quoting Rfs199
{quote} Why did you enter there and not in the previous bar? (Maybe your entry is correct if you're using H1 bars as entries, but I can't really see the open price, maybe zooming in a little and using the indicator provided here might help out).
I was using 15m tf as entry's, now Im gonna use M5, and my time is gmt +3, should I trade after 14 candles, at 15:00 at my time or earlier ? Because I dont know if it is important or no. Or I should change my broker time zone to NY ? And trade from 15:00 in my time ( 8:00 ) in new york time ?
  • #11,791
  • Oct 12, 2017 6:15am Oct 12, 2017 6:15am
https://imgur.com/a/A4EdK

Correct entry ?
  • #11,792
  • Oct 12, 2017 7:00am Oct 12, 2017 7:00am
Quoting netas369
https://imgur.com/a/A4EdK Correct entry ?

-10 pips
  • #11,793
  • Oct 12, 2017 11:32am Oct 12, 2017 11:32am
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  • #11,794
  • Oct 12, 2017 11:38am Oct 12, 2017 11:38am
Quoting netas369
{quote} -10 pips
Please correct me if I'm wrong, but that would've been a win (at least on my charts). The price didn't hit the daily high.

Maybe it could be because of this (quoting MichaelG's pdf):
"A bit more on trade management. In this SELL trade, we used the BID price to enter. Once the trade is ON, forget about the BID price, and concentrate on the ASK price. Remember, in a SELL trade, it is the ASK price that will stop you out."
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  • #11,795
  • Oct 12, 2017 12:46pm Oct 12, 2017 12:46pm
Sorry, I don't mean to spam the thread with 3 replies in a row, but I've got a quick question ragarding rule#6. It's probably easier if I show it with a chart.

Would a re-entry at that level be within the rules? Does the one entry per bar rule apply only to the bars I'm using for my entries? (in my example those would be M5)
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  • #11,796
  • Oct 12, 2017 1:41pm Oct 12, 2017 1:41pm
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  • #11,797
  • Oct 12, 2017 1:42pm Oct 12, 2017 1:42pm
Quoting Rfs199
Sorry, I don't mean to spam the thread with 3 replies in a row, but I've got a quick question ragarding rule#6. It's probably easier if I show it with a chart. Would a re-entry at that level be within the rules? Does the one entry per bar rule apply only to the bars I'm using for my entries? (in my example those would be M5) {image}
How do you answer your question?

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  • #11,798
  • Oct 12, 2017 2:52pm Oct 12, 2017 2:52pm
Quoting TooSlow
{quote} How do you answer your question? {image}
Since I'm placing my trade when the current bar goes through the highest/lowest open, it would make sense not to enter again within the same bar, because once the price goes through the HO/LO, that is the only moment to take that trade according to the other rules.

I suppose it goes hand in hand with No late entry - not even 1 pip and There is always another chance or trade.

So, now that I think about it (and answering my own question), yes. Because it's not one trade per level, it's one trade per bar.
  • #11,799
  • Oct 12, 2017 3:24pm Oct 12, 2017 3:24pm
Quoting Rfs199
{quote} Since I'm placing my trade when the current bar goes through the highest/lowest open, it would make sense not to enter again within the same bar, because once the price goes through the HO/LO, that is the only moment to take that trade according to the other rules. I suppose it goes hand in hand with No late entry - not even 1 pip and There is always another chance or trade. So, now that I think about it (and answering my own question), yes. Because it's not one trade per level, it's one trade per bar.
Isn't it so satisfying when you get the answer from your own effort? You can guarantee that that information will stick as well. Nicely done.
  • #11,800
  • Oct 15, 2017 8:59pm Oct 15, 2017 8:59pm
Who is taking the 10 trade challenge the week of October 15, 2017?

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!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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