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Highest Open / Lowest Open Trade

  • #12,881
  • May 16, 2018 3:17pm May 16, 2018 3:17pm
Quoting skipper13
can someone help me? what do these numbers mean? {image}
for [#] # = how many bars ago.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #12,882
  • May 16, 2018 3:18pm May 16, 2018 3:18pm
Quoting skipper13
can someone help me? what do these numbers mean? {image}
OPEN ##.# ##.# = How many pips from low or high the line is. Use to calculate your position size. Position Size = Risk / Stop Loss
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #12,883
  • May 17, 2018 3:01am May 17, 2018 3:01am
Thank you

skippeer13
  • #12,884
  • May 17, 2018 6:29am May 17, 2018 6:29am
Missed the early action on AU but came in from enjoying the sunshine and manged to nab a wee bit of something midday here. PA on the H1 gave confidence, even though there is no Demand Zone for me...

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  • #12,885
  • May 17, 2018 3:59pm May 17, 2018 3:59pm
Just curious for those of you who trade EUR/USD using this system, would you be willing to share what has worked best for you in terms of how long you wait after the 5pm Eastern open before looking for a trade? Seems there would be a lot of false signals within the first hours of the trading day...perhaps even waiting until 12am eastern, or London open? Thank you!
  • #12,886
  • May 17, 2018 4:13pm May 17, 2018 4:13pm
Quoting NWSTrading
Just curious for those of you who trade EUR/USD using this system, would you be willing to share what has worked best for you in terms of how long you wait after the 5pm Eastern open before looking for a trade? Seems there would be a lot of false signals within the first hours of the trading day...perhaps even waiting until 12am eastern, or London open? Thank you!
For me it seems to work best if I wait until around the 6:00am to 8:00am Eastern time. Basically late morning after the US session has opened. I try to wait until I think the extreme range for the day has happened and then jump in as you get that last good retrace from the high or low, whichever way the price may be trending. I have been trading this method for the last 5-6 months and by no means any kind of expert so take that for what its worth.
  • #12,887
  • May 17, 2018 4:44pm May 17, 2018 4:44pm
Quoting feichkop
{quote} For me it seems to work best if I wait until around the 6:00am to 8:00am Eastern time. Basically late morning after the US session has opened. I try to wait until I think the extreme range for the day has happened and then jump in as you get that last good retrace from the high or low, whichever way the price may be trending. I have been trading this method for the last 5-6 months and by no means any kind of expert so take that for what its worth.
I am also not an expert either, been trading this method since the summer 2017. Like Feichkop said, it is best not to trade on LO, but to wait until a movement appears. For sure, you just need 5pips+spread, so you will have a lot of BE trades but it is ok, since you are not losing money, which is the most important in trading IMO. I can't say specifically, when to trade it, but waiting one hour to a couple of hours for a setup to appear is common. Basically, you need the ADR to be ''consumed'' before jumping in. But still, this is not a requirement in my opinion, as again, you need only 5pips+spread.

Other more advanced traders can comment, as I am still learning everyday and I do make mistakes everyday. But one thing to say, this method is a stress free method and it does work.
  • #12,888
  • May 17, 2018 4:57pm May 17, 2018 4:57pm
Quoting NWSTrading
Just curious for those of you who trade EUR/USD using this system, would you be willing to share what has worked best for you in terms of how long you wait after the 5pm Eastern open before looking for a trade? Seems there would be a lot of false signals within the first hours of the trading day...perhaps even waiting until 12am eastern, or London open? Thank you!
I would say that for those of us trading in the UK, very few trades would be taken before the UK Open.

There will be the usual tendency for any movement between UK and US Open to reverse once the US Bell rings, so waiting till just before or around the US Open would bring likely opportunities.
  • #12,889
  • May 18, 2018 2:17am May 18, 2018 2:17am
Quoting NWSTrading
Just curious for those of you who trade EUR/USD using this system, would you be willing to share what has worked best for you in terms of how long you wait after the 5pm Eastern open before looking for a trade? Seems there would be a lot of false signals within the first hours of the trading day...perhaps even waiting until 12am eastern, or London open? Thank you!
Hi, I have traded mostly EURUSD during this month, I find the best hours to trade are after London Open and until 4pm CET. Beware during the first 30-60 mins of London Open things can go kinda crazy, especially on Mondays so I would avoid that.

I'm sadly not trading HoLo anymore, even if I find it an excellent set of rules, and I have been quite successful with it. Unfortunately it's a bit time intensive for me, I have a full time job and I find myself missing a lot of opportunities during the day. Given my current situation I think a swing trading style suits my life better. But I'll keep an eye on this thread.
  • #12,890
  • May 18, 2018 2:55am May 18, 2018 2:55am
good morning Lem
  • #12,891
  • May 18, 2018 3:21am May 18, 2018 3:21am
Quoting dogdays713
good morning Lem
Attached Image


Everybody playing nice?

I'm done for the day - it's Friday...I don't like Fridays. The sun is shining and the out-of-the-door-place is calling me.

Watch out for the red CAD this arvo if anyone is thinking of getting involved in UC or whatever.

Have a good one, folks.
  • #12,892
  • May 21, 2018 6:21am May 21, 2018 6:21am
EURJPY One.jpg
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  • #12,893
  • May 21, 2018 10:22am May 21, 2018 10:22am
Who is taking the 10 trade challenge the week of MAY 20, 2018?

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
  • #12,894
  • May 21, 2018 10:22am May 21, 2018 10:22am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #12,895
  • May 22, 2018 2:52pm May 22, 2018 2:52pm
NU and UJ look good...problem is they can't both be right, lol.

Think I'll have a cuppa instead .
  • #12,896
  • May 22, 2018 6:49pm May 22, 2018 6:49pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #12,897
  • May 24, 2018 9:13pm May 24, 2018 9:13pm
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Where did everyone go?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #12,898
  • May 25, 2018 1:55am May 25, 2018 1:55am
Quoting TooSlow
{image} Where did everyone go?
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  • #12,899
  • May 25, 2018 8:13pm May 25, 2018 8:13pm
Who is taking the 10 trade challenge the week of MAY 27, 2018?

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
  • #12,900
  • May 26, 2018 12:05pm May 26, 2018 12:05pm
is the rule on number 6 meaning :

example : a new H1 higher open is made, then 10 minute later there is a new open price on 5M chart and it's in high and higher open area
so i enter a sell.
then the next 50 minute i should have close the trade, despite it's a win or a loss?
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