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Highest Open / Lowest Open Trade

  • #12,141
  • Jan 10, 2018 10:03am Jan 10, 2018 10:03am
Quoting wannalearn12
{quote} nabbed another entry. let's see
Half off stops at BE let's run this rodeo!
  • #12,142
  • Jan 10, 2018 10:23am Jan 10, 2018 10:23am
Quoting wannalearn12
{quote} Half off stops at BE let's run this rodeo!
Right, tough break - bounced right off stop and went for more -.- how annoying
  • #12,143
  • Jan 11, 2018 9:10am Jan 11, 2018 9:10am
Okay MR. TS - time to play.
  • #12,144
  • Edited 10:26am Jan 11, 2018 9:26am | Edited 10:26am
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow.png Size: 67 KB




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
  • #12,145
  • Jan 11, 2018 10:11am Jan 11, 2018 10:11am
Hey TS at about what time do you stop taking trades - / the market gets flat?
  • #12,146
  • Jan 11, 2018 10:27am Jan 11, 2018 10:27am
Quoting wannalearn12
Hey TS at about what time do you stop taking trades - / the market gets flat?
When there are no trades for pairs I trade using these methods is when I stop taking trades.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #12,147
  • Jan 11, 2018 10:29am Jan 11, 2018 10:29am
Quoting TooSlow
{quote} When there are no trades for pairs I trade using these methods is when I stop taking trades.
Got it. Thanks
  • #12,148
  • Jan 11, 2018 3:43pm Jan 11, 2018 3:43pm
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow.png Size: 59 KB




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
  • #12,149
  • Jan 12, 2018 10:13am Jan 12, 2018 10:13am
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow.png Size: 65 KB


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
  • #12,150
  • Jan 12, 2018 10:41am Jan 12, 2018 10:41am
Quoting TooSlow
{image} 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!
Nailed it, Sir. Fantastic I must say I am at fault for closing my last partial position early. Two steps forward today.
  • #12,151
  • Jan 13, 2018 1:46pm Jan 13, 2018 1:46pm
I've looked through this past week for trades only on eurusd using the 15 minute time frame for entries.
For the sake of simplicity, in the trades I spotted I'm ignoring news times and breakout of the previous days extremes (as reasons not to trade).
I found 12 trades: (the times are the open of the 15 minute candles on which the trade was taken, fxpro 2 hours ahead of UTC(GMT)).

8th Jan
06.30 Buy at 1.20266
12.00 Buy at 1.19901
22.15 Buy at 1.19615
9th Jan
03.30 Buy at 1.19657
14.30 Buy at 1.19272
10th Jan
08.45 Buy at 1.19273
10.45 Sell at 1.19473
11th Jan
07.15 Buy at 1.19461
14.30 Buy at 1.19372
12th Jan
09.45 Sell at 1.20576
13.30 Sell at 1.21246
16.30 Sell at 1.21327

have I got this right? if not can you specify a reason please, apologies for breaking any rules of the thread, any thoughts are welcome
  • #12,152
  • Jan 13, 2018 2:48pm Jan 13, 2018 2:48pm
Quoting zortan
I've looked through this past week for trades only on eurusd using the 15 minute time frame for entries. For the sake of simplicity, in the trades I spotted I'm ignoring news times and breakout of the previous days extremes (as reasons not to trade). I found 12 trades: (the times are the open of the 15 minute candles on which the trade was taken, fxpro 2 hours ahead of UTC(GMT)). 8th Jan 06.30 Buy at 1.20266 12.00 Buy at 1.19901 22.15 Buy at 1.19615 9th Jan 03.30 Buy at 1.19657 14.30 Buy at 1.19272 10th Jan 08.45 Buy at 1.19273 10.45 Sell at 1.19473...
EU is a good choice, due to the way it moves, often in a narrow range for regular stretches of time.

Your non-trade conditions also make sense.

However, if you can post up charts with the entries clearly marked, then you will find the help you ask for comes a lot easier than simply listing entry levels.

Most of the experienced traders here are actually trading live during the day and going back through lots of charts to run numbers takes a good amount of time out of our days.

Cheers - and welcome aboard.
  • #12,153
  • Jan 13, 2018 4:35pm Jan 13, 2018 4:35pm
Cheers, I just wanted to see if I had the rules correct.

A quick question, if the new open on a 1 hour candle is a new highest/lowest OPEN then don't take a trade during that hour (on the 15 minute)...
if during the 1 hour candle it makes a new high/low for the day it's OK to take a trade (on the 15 minute).

Have I got that right?

Will post some charts. thanks
  • #12,154
  • Jan 13, 2018 5:30pm Jan 13, 2018 5:30pm
Quoting zortan
Cheers, I just wanted to see if I had the rules correct. A quick question, if the new open on a 1 hour candle is a new highest/lowest OPEN then don't take a trade during that hour (on the 15 minute)... if during the 1 hour candle it makes a new high/low for the day it's OK to take a trade (on the 15 minute). Have I got that right? Will post some charts. thanks
My understanding (and how I play it) is that as soon as the new H1 open level has been established, then you can look for your entry m15 / m5 candle (with the caveat around the H1 not being a breakout candle).
  • #12,155
  • Edited 2:16pm Jan 14, 2018 5:48am | Edited 2:16pm
Here are the 3 trades from the 8th (all 15 minute charts)

0630 candle

Attached Image (click to enlarge)
Click to Enlarge Name: 0630.png Size: 30 KB


1145 candle (the 1 hour candle makes a new lowest open, drops a little, then goes up past the open again, would that be a trade?)

Attached Image


2115 (In my original post I put the 22.15 candle, if you don't trade the 1 hour candle that makes a new lowest open that would be correct, if you do trade it then it's this one instead)

Attached Image
  • #12,156
  • Jan 14, 2018 1:48pm Jan 14, 2018 1:48pm
Quoting zortan
Here are the 3 trades from the 8th (all 15 minute charts) 0630 candle {image} 1200 candle (the 1 hour candle makes a new lowest open, drops a little, then goes up past the open again, would that be a trade?) {image} 2130 (In my original post I put the 22.15 candle, if you don't trade the 1 hour candle that makes a new lowest open that would be correct, if you do trade it then it's this one instead) {image}

The trade setup (if I understand it correctly) is to utilize the highest open and/or the lowest open for that entire day.

Yeah, as I watch, I often make assumptions on that high and low and can see where pips can still be made. If I understand it correctly (and I'm not certain I do) removing myself to trading only the highest open and/or the lowest open of the day increases the odds of success and, especially, minimizes risk. It also reduces the opportunities.

However, too slow's other thread and its trade setup allow for more frequent setups. I'm assuming (I don't know) trading his other plan to its specific rules will provide more trading opportunities while maintain higher probabilities.

It would be cool for tooslow to chime in on this. I bet he's calculated at one point or another. I imagine these rules are in place for good reason.

Note: I'm a decent new trader of 3 years and my current agenda is to learn consistency and, thereby, more diligent risk management.
  • #12,157
  • Jan 14, 2018 1:54pm Jan 14, 2018 1:54pm
I will be trading gbp/jpy for the duration of this week. AUDUSD was on my watch list, but has been moved over to my trend trade setup. I cannot mentally do two setups on one pair successfully. I like gbp/jpy's opportunities on this trade plan from tooslow.

kill it this week, ya'll
  • #12,158
  • Edited 2:17pm Jan 14, 2018 2:04pm | Edited 2:17pm
Well I've read the rules again and it's answered the question (from post#12154):

ADDED MAY 27, 2016:

This may help those who are trigger happy to wait:

M15 bar must open below the lowest H1 open before you can enter.

M15 bar must open above the highest H1 open before you can enter.

Price will be moving in your direction when you enter the trade.

Have now ammended the pics in previous posts to show correct entries

The first example in MichaelGs PDF confirms this.
  • #12,159
  • Jan 14, 2018 2:11pm Jan 14, 2018 2:11pm
The period in the middle is January 11, 2017

I know which one is the highest (after the fact, of course). The highest open is only higher to the 5th decimal.

My question: Does this higher 5th decimal matter. If so, why? If not, why not?
Attached Image (click to enlarge)
Click to Enlarge Name: it.png Size: 55 KB
  • #12,160
  • Jan 14, 2018 6:40pm Jan 14, 2018 6:40pm
Who is taking the 10 trade challenge the week of January 14, 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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