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Highest Open / Lowest Open Trade

  • #11,841
  • Oct 23, 2017 9:17am Oct 23, 2017 9:17am
Do the zones get "used up" or if it comes back into a zone a few hours later, is it still valid??

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Life is like a snickers, its full of nuts!
  • #11,842
  • Oct 23, 2017 11:03am Oct 23, 2017 11:03am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #11,843
  • Oct 23, 2017 11:04am Oct 23, 2017 11:04am
Quoting firewight
Do the zones get "used up" or if it comes back into a zone a few hours later, is it still valid?? {image}
Look at your chart. Read RULE #8.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #11,844
  • Oct 23, 2017 11:07am Oct 23, 2017 11:07am
Quoting TooSlow
{quote} Look at your chart. Read RULE #8.
Thanks, but that doesn't answer my specific question, unless the answer is they are still valid...
Life is like a snickers, its full of nuts!
  • #11,845
  • Oct 23, 2017 11:15am Oct 23, 2017 11:15am
Quoting firewight
{quote} Thanks, but that doesn't answer my specific question, unless the answer is they are still valid...
What does RULE #8 say? Do any of the rules mention "used up"? Have you read this thread in entirety? Have you read the documents provided in POST #1?

You may find this reply a bit curt and harsh. Trading is harsh! The rules are specific and all inclusive. The rules answer your question.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #11,846
  • Oct 23, 2017 7:26pm Oct 23, 2017 7:26pm
Quoting TooSlow
{quote} What does RULE #8 say? Do any of the rules mention "used up"? Have you read this thread in entirety? Have you read the documents provided in POST #1? You may find this reply a bit curt and harsh. Trading is harsh! The rules are specific and all inclusive. The rules answer your question.
I read it, I was asking for clarification! No need to be a dick about it sheesh...
Life is like a snickers, its full of nuts!
  • #11,847
  • Oct 24, 2017 12:04am Oct 24, 2017 12:04am
Trade 2 of the 10 trade challenge.

50% off @ 5 pips + SL to BE and trailed to be taken out by that spike/wick down...

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Life is like a snickers, its full of nuts!
  • #11,848
  • Oct 24, 2017 9:39am Oct 24, 2017 9:39am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #11,849
  • Oct 24, 2017 9:43am Oct 24, 2017 9:43am
Quoting firewight
{quote} I read it, I was asking for clarification! No need to be a dick about it sheesh...

Take the 10 TRADE CHALLENGE and produce your own evidence.

"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
  • #11,850
  • Oct 24, 2017 5:40pm Oct 24, 2017 5:40pm
thanks too slow for sharing..i been reading your post few times since last year untill this year ..but still not understand your method..feel confuse..can u pls help me to understand it?

HIGHEST OPEN / LOWEST OPEN TRADE

Place a line at the highest H1 open(do u mean the highest of H1 1st candle of the day where the time is 0:00)?? 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.
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  • #11,851
  • Oct 24, 2017 6:19pm Oct 24, 2017 6:19pm
Quoting blackpanblac
thanks too slow for sharing..i been reading your post few times since last year untill this year ..but still not understand your method..feel confuse..can u pls help me to understand it? HIGHEST OPEN / LOWEST OPEN TRADE Place a line at the highest H1 open(do u mean the highest of H1 1st candle of the day where the time is 0:00)?? 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. {image}
Did you read the documentation in Post #1?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #11,852
  • Oct 24, 2017 10:06pm Oct 24, 2017 10:06pm
good thread too slow

just wondering how many pips do you bank daily with this method?
would 20 pips be a realistic target?
  • #11,853
  • Oct 25, 2017 4:31am Oct 25, 2017 4:31am
-12 with GU short.
signal was only good for +4 pips, but i had my profit target at +5...
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trading is like dancing, don't think and just listen to the music!
  • #11,854
  • Oct 25, 2017 10:03am Oct 25, 2017 10:03am
Quoting birdland
-12 with GU short. signal was only good for +4 pips, but i had my profit target at +5... {image}
Unlucky - you met a freight train. One tip I'd give you for dealing with trading the reverse of one of these single long-range-bars is to quickly take a look at the H4 and Daily time-frames. Is there still room for price to move on those higher tf charts? If so, then caution is advised. Maybe even still go in but grab 2 pips and don't let it go negative at all. If it does go negative and then reverse back, simply re-enter. No-risk trade (other than the spread, of course).

Can I ask why you didn't take the long off the previous bar? Just missed it?
  • #11,855
  • Oct 25, 2017 10:14am Oct 25, 2017 10:14am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #11,856
  • Oct 25, 2017 10:43am Oct 25, 2017 10:43am
Quoting TooSlow
{image}
There WAS a one minute set up if you were awake... I was in another trade during the time or I would have been all over it.
  • #11,857
  • Oct 25, 2017 11:17am Oct 25, 2017 11:17am
Quoting shay14
good thread too slow just wondering how many pips do you bank daily with this method? would 20 pips be a realistic target?
Results are personal. It depends on how many pairs you trade, how many trades you actually take and how you manage them. You can lose pips, bank some pips, or bank a lot of pips, it's up to you really. Don't get too caught up in that.

If you're still curious, use the search tool. This has been asked / answered before (many times ).
  • #11,858
  • Oct 25, 2017 1:15pm Oct 25, 2017 1:15pm
Quoting lemercenaire
{quote} Unlucky - you met a freight train. One tip I'd give you for dealing with trading the reverse of one of these single long-range-bars is to quickly take a look at the H4 and Daily time-frames. Is there still room for price to move on those higher tf charts? If so, then caution is advised. Maybe even still go in but grab 2 pips and don't let it go negative at all. If it does go negative and then reverse back, simply re-enter. No-risk trade (other than the spread, of course). Can I ask why you didn't take the long off the previous bar? Just...
1) ok, i thought no trading with Support&resistance, indi, MA, PA or whatever influences...? thats new to me.

2) i dindt take the previous bar, because of the red news event coming. i had slippage of more than -30 pips before despite a large, liquid broker and therefore red news are a "survival no go".
trading is like dancing, don't think and just listen to the music!
  • #11,859
  • Oct 25, 2017 1:50pm Oct 25, 2017 1:50pm
Quoting birdland
{quote} 1) ok, i thought no trading with Support&resistance, indi, MA, PA or whatever influences...? thats new to me. 2) i dindt take the previous bar, because of the red news event coming. i had slippage of more than -30 pips before despite a large, liquid broker and therefore red news are a "survival no go".
1: Yeah, that's fair. Play it as it lies while you get it down. After that, rules can be bent, if it works for you.

2: Good point. I hadn't taken the news event into account.

It's all good
  • #11,860
  • Oct 25, 2017 4:59pm Oct 25, 2017 4:59pm
Quoting lemercenaire
{quote} 1: Yeah, that's fair. Play it as it lies while you get it down. After that, rules can be bent, if it works for you. 2: Good point. I hadn't taken the news event into account. It's all good
I have to say that this thread really turned into something nice. Great work Too Slow and all the regular contributors!
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