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Highest Open / Lowest Open Trade

  • #12,581
  • Mar 21, 2018 12:32pm Mar 21, 2018 12:32pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #12,582
  • Mar 22, 2018 8:01am Mar 22, 2018 8:01am
2# 10/1 +1pips
2# 10/2 +10pips
2# 10/3 +1pips
2# 10/4 -16.1pips
2# 10/5 +1pips
2# 10/6 +1pips
2# 10/7 +1pips
today：
2# 10/8 +1pips
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Waiting for the next trade（or next 1pips）.
  • #12,583
  • Mar 22, 2018 8:56am Mar 22, 2018 8:56am
Quoting mingqiu
2# 10/1 +1pips 2# 10/2 +10pips 2# 10/3 +1pips 2# 10/4 -16.1pips 2# 10/5 +1pips 2# 10/6 +1pips 2# 10/7 +1pips today： 2# 10/8 +1pips {image} {image} Waiting for the next trade（or next 1pips）.
are all of these +1 pip counts originally +5 or more and you moved your SL to BE +1? If this is the case I would recommend that you stop doing that and just lock in your +5 an be done, or you could lock in 80-90% at +5 and then let the rest run. It looks like your Trailing stop is limiting your %% at the moment.
  • #12,584
  • Mar 22, 2018 9:21am Mar 22, 2018 9:21am
Trade No.5 BE+1.
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  • #12,585
  • Mar 22, 2018 9:43am Mar 22, 2018 9:43am
Quoting mingqiu
2# 10/1 +1pips 2# 10/2 +10pips 2# 10/3 +1pips 2# 10/4 -16.1pips 2# 10/5 +1pips 2# 10/6 +1pips 2# 10/7 +1pips today： 2# 10/8 +1pips {image} {image} Waiting for the next trade（or next 1pips）.
As Bo says, you are travelling the same road we all have been down and you're probably now at the point we got to when we began to look at ways to maximise our profits.

I know you are for now running the 10-Pip Challenge as per TS' instructions and that's admirable and disciplined how you've done - but once you decide to move to the next level, then it's definitely something to work on.

There has been plenty of discussion on the subject through the life of the thread, certainly over the last year / year-and-a-half or so. The same process has been a feature with 1-2-3 as well.
  • #12,586
  • Mar 22, 2018 10:04am Mar 22, 2018 10:04am
2# 10/1 +1pips
2# 10/2 +10pips
2# 10/3 +1pips
2# 10/4 -16.1pips
2# 10/5 +1pips
2# 10/6 +1pips
2# 10/7 +1pips
today：
2# 10/8 +1pips
2# 10/9 +5pips
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Waiting for the next trade.
  • #12,587
  • Mar 22, 2018 10:33am Mar 22, 2018 10:33am
Quoting bojack34
{quote} are all of these +1 pip counts originally +5 or more and you moved your SL to BE +1? If this is the case I would recommend that you stop doing that and just lock in your +5 an be done, or you could lock in 80-90% at +5 and then let the rest run. It looks like your Trailing stop is limiting your %% at the moment.
hi bojack34！Thank you for your reply.

Yes, I know this, but now I am trying to practice consistency and not change the rules and patience. Profiting is not my primary purpose for the time being. After completing this part of the training I may or may not change. I used to make frequent failures because of frequent changes, so this time I want to accumulate trading experience without changing the method.
  • #12,588
  • Mar 22, 2018 10:56am Mar 22, 2018 10:56am
Quoting lemercenaire
{quote} As Bo says, you are travelling the same road we all have been down and you're probably now at the point we got to when we began to look at ways to maximise our profits. I know you are for now running the 10-Pip Challenge as per TS' instructions and that's admirable and disciplined how you've done - but once you decide to move to the next level, then it's definitely something to work on. There has been plenty of discussion on the subject through the life of the thread, certainly over the last year / year-and-a-half or so. The same process...
Yes lem, I currently have several ideas, such as hal7's trailer or lock in 80% at +5 and then let the rest run or cancel BE +1 ect. I want to change when appropriate, but how do I know when it is appropriate? Or I need more experience.
  • #12,589
  • Mar 22, 2018 11:17am Mar 22, 2018 11:17am
Quoting mingqiu
{quote} Yes lem, I currently have several ideas, such as hal7's trailer or lock in 80% at +5 and then let the rest run or cancel BE +1 ect. I want to change when appropriate, but how do I know when it is appropriate? Or I need more experience.
I would suggest running a mirror trading journal. Keep on practicing as you are doing but start to keep a list of those trades that, for instance, break +5.

This is the simplest addition. It will not impact on your practice method as you run it but will give you the immediate additional stats on the "close-percentage-at-plus-five" variant of money a management.

You will then be able to see and compare (without changing anything about how you are working) the two ways of doing things.

It will then make any decision as to when to change over (if you decide you want to) much easier, as in reality nothing will change about your method.
  • #12,590
  • Mar 22, 2018 11:29am Mar 22, 2018 11:29am
2# 10/1 +1pips
2# 10/2 +10pips
2# 10/3 +1pips
2# 10/4 -16.1pips
2# 10/5 +1pips
2# 10/6 +1pips
2# 10/7 +1pips
today：
2# 10/8 +1pips
2# 10/9 +5pips
2# 10/10 +15pips
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Now I can go to bed. My time here is 00:30.
Good night guys.
  • #12,591
  • Mar 22, 2018 11:34am Mar 22, 2018 11:34am
Quoting lemercenaire
{quote} I would suggest running a mirror trading journal. Keep on practicing as you are doing but start to keep a list of those trades that, for instance, break +5. This is the simplest addition. It will not impact on your practice method as you run it but will give you the immediate additional stats on the "close-percentage-at-plus-five" variant of money a management. You will then be able to see and compare (without changing anything about how you are working) the two ways of doing things. It will then make any decision as to when to change over...
Yes lem, this is a really good suggestion, and I have this, it is accumulating statistics.
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  • #12,592
  • Mar 22, 2018 12:36pm Mar 22, 2018 12:36pm
Quoting TooSlow
So to place a trade you use 5m chart and when 5m candle closes above 1h lowest open you enter a trade? In case of buy trade. No, I usually look at the H1 bar chart and look at the time on the clock. I can see what time it is. At X:05 price above the highest open means I can short when price comes back down. Or at X:06 Or at X:11 Etc... The M5 candle chart I showed with the H1 background was for educational purposes. That chart is "too much", too distracting, for me to trade. And one more question. Do you trade only NY session because it tends to...

hello freind,

i ask if you can program me an expert?
  • #12,593
  • Mar 22, 2018 12:44pm Mar 22, 2018 12:44pm
Trade No.6 +10.4 pips.
There was another setup an hour ago at the same level with potential 5+ pips profit that I missed due to appointment.
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  • #12,594
  • Mar 22, 2018 1:17pm Mar 22, 2018 1:17pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #12,595
  • Mar 22, 2018 1:18pm Mar 22, 2018 1:18pm
Quoting Achomed
{quote} hello freind, i ask if you can program me an expert?
Have you read POST #1?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #12,596
  • Mar 23, 2018 4:24am Mar 23, 2018 4:24am
Trade No.7 BE+1.
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  • #12,597
  • Mar 23, 2018 2:22pm Mar 23, 2018 2:22pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #12,598
  • Mar 24, 2018 5:03pm Mar 24, 2018 5:03pm
This type of trading is somewhat difficult, requires experience and some discretion because you are aiming to pick top/bottom. Why not trade towards the flow instead of against it.

Don't let my words stop you, you can try make it work for you. It was stressful and I couldn't but I know others could.
When U allow your emotions to dictate your decisions, U make bad decision
  • #12,599
  • Mar 24, 2018 5:33pm Mar 24, 2018 5:33pm
Quoting SolidSnake-
This type of trading is somewhat difficult, requires experience and some discretion because you are aiming to pick top/bottom. Why not trade towards the flow instead of against it. Don't let my words stop you, you can try make it work for you. It was stressful and I couldn't but I know others could.
Because that's not the strategy.
  • #12,600
  • Mar 24, 2018 6:38pm Mar 24, 2018 6:38pm
Quoting SolidSnake-
This type of trading is somewhat difficult, requires experience and some discretion because you are aiming to pick top/bottom. Why not trade towards the flow instead of against it. Don't let my words stop you, you can try make it work for you. It was stressful and I couldn't but I know others could.
Fair enough and sorry you couldn't make it work for you.
However, trying to find continuation trades can be just as, if not more, problematic.
To make that work truly effectively - unless you are going to try catching a falling knife and jumping onto short term momentum - then you are looking at using higher time-frames than the m15 / m5 we do here and higher tf trading brings its own issues and isn't for everyone.
Good luck with your chosen direction.
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