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Highest Open / Lowest Open Trade

  • #13,541
  • Oct 5, 2018 7:45am Oct 5, 2018 7:45am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,542
  • Oct 5, 2018 7:54am Oct 5, 2018 7:54am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,543
  • Oct 8, 2018 12:54pm Oct 8, 2018 12:54pm
Who is taking the 10 trade challenge the week of OCTOBER 7, 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
  • #13,544
  • Oct 8, 2018 12:55pm Oct 8, 2018 12:55pm
Quoting TooSlow
Who is taking the 10 trade challenge the week of OCTOBER 7, 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!
I will
  • #13,545
  • Oct 8, 2018 12:57pm Oct 8, 2018 12:57pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,546
  • Oct 8, 2018 9:11pm Oct 8, 2018 9:11pm
Quoting TooSlow
{image} Anyone short USDCHF?
TooSlow,

I dont know if someone has asked this before,
but how do you enter a trade that seems doesnt give you room before back to the highest/lowest open?
like this USDCHF example. Price barely made the upper wick and just go down straight away.
Ask, and it is given. Every single time, no exceptions.
  • #13,547
  • Oct 9, 2018 4:02am Oct 9, 2018 4:02am
Quoting TooSlow
Who is taking the 10 trade challenge the week of OCTOBER 7, 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!

Okay, since no one volunteered, here goes...
I trade with EUR/USD only, on 5 min TF
with TP = 7 and SL is the highest / lowest of the day
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.PNG Size: 50 KB
May the odds be ever in your favor
  • #13,548
  • Oct 9, 2018 8:08am Oct 9, 2018 8:08am
Quoting beefStew
{quote} TooSlow, I dont know if someone has asked this before, but how do you enter a trade that seems doesnt give you room before back to the highest/lowest open? like this USDCHF example. Price barely made the upper wick and just go down straight away.
The rules can be broken.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,549
  • Oct 9, 2018 1:17pm Oct 9, 2018 1:17pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,550
  • Oct 9, 2018 8:28pm Oct 9, 2018 8:28pm
Hi TS, Lem, Michael, and everyone

Almost done with reading the thread (page 612 so far) and have been watching potential setups for about the last week. I would like to take the 10 trade (will probably be a lot more than that) challenge. Thanks to TS, Lem, and everyone for keeping this thread alive and giving great ideas for MM.

The pair I will trade is USD/JPY. Trading will take place only during the Asian session for about 5 hours since that's the only time available for me to trade. (So 10 trade challenge may take longer than a week lol)

I will be using only 15 min bars to open in the area of interest before a trade and of course will not be trading breakout bars.
  • #13,551
  • Oct 10, 2018 6:03am Oct 10, 2018 6:03am
Quoting lemercenaire
{quote} I went in heavy with a double-dip entry... {image} Now I'm out, as it's butting its head up against the micro Supply Zone on the m1... {image} It may still go on but I'm bagging the cash and going home and before anyone asks, no, that's not in the ''rules'' but it's my own way of doing things. In heavy and out quick.
could I please get the tpl??
  • #13,552
  • Oct 10, 2018 6:20am Oct 10, 2018 6:20am
Quoting lemercenaire
This took a while to get going and the spread was really too big but hey, it got there eventually... {image}
would you mind sharing this template please!!!!
  • #13,553
  • Oct 10, 2018 11:04am Oct 10, 2018 11:04am
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"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
  • #13,554
  • Oct 10, 2018 12:45pm Oct 10, 2018 12:45pm
Quoting Yoki;11565361[highlight=Yellow
][/highlight]Hi TS, Lem, Michael, and everyone Almost done with reading the thread (page 612 so far) and have been watching potential setups for about the last week. I would like to take the 10 trade (will probably be a lot more than that) challenge. Thanks to TS, Lem, and everyone for keeping this thread alive and giving great ideas for MM. The pair I will trade is USD/JPY. Trading will take place only during the Asian session for about 5 hours since that's the only time available for me to trade. (So 10 trade challenge may take longer[/highlight]...
Hi there and welcome to the thread. Running on the Asian session alone will present challenges for you - but it can be done. Pick your pair(s) well and you should do just fine. UJ is as good a place to begin as any.
  • #13,555
  • Oct 10, 2018 12:55pm Oct 10, 2018 12:55pm
Quoting minsat
{quote} could I please get the tpl??
Hi minsat - sorry, I was away from the screens for a while there and missed your post.

The charts you see there include indicators that I cannot share, so there is no template to give, I'm afraid.

However, you can jury-rig an approximation easily enough. Simply add the HOLO indicator, edit the chart colours and add a free Supply+Demand indicator (Google is your friend).
  • #13,556
  • Oct 10, 2018 1:29pm Oct 10, 2018 1:29pm
Quoting lemercenaire
{quote} Hi minsat - sorry, I was away from the screens for a while there and missed your post. The charts you see there include indicators that I cannot share, so there is no template to give, I'm afraid. However, you can jury-rig an approximation easily enough. Simply add the HOLO indicator, edit the chart colours and add a free Supply+Demand indicator (Google is your friend).
thanks for the answer.
I have the free indicators.
Pity yyou could not share, well I understand.
Anywhere I could buy?

Best,

Sandy
  • #13,557
  • Edited 2:14pm Oct 10, 2018 1:30pm | Edited 2:14pm
Quoting lemercenaire
{quote} Hi there and welcome to the thread. Running on the Asian session alone will present challenges for you - but it can be done. Pick your pair(s) well and you should do just fine. UJ is as good a place to begin as any.
Thanks for the encouragement. I get home from work at around 5:30PM PST so that gives me my evening to trade. I did some demo trades starting at the beginning of this week for UJ and all 5 of them were winners. (However one of those trades had a breakout bar by 0.2 pips so I bent the rule slightly on that one) So I'm confident...for now at least!
  • #13,558
  • Oct 10, 2018 3:09pm Oct 10, 2018 3:09pm
Quoting minsat
{quote} thanks for the answer. I have the free indicators. Pity yyou could not share, well I understand. Anywhere I could buy? Best, Sandy
I will pm you when I am not on my phone.
  • #13,559
  • Oct 10, 2018 3:15pm Oct 10, 2018 3:15pm
Quoting Yoki
{quote} Thanks for the encouragement. I get home from work at around 5:30PM PST so that gives me my evening to trade. I did some demo trades starting at the beginning of this week for UJ and all 5 of them were winners. (However one of those trades had a breakout bar by 0.2 pips so I bent the rule slightly on that one) So I'm confident...for now at least!
Good stuff. Another reason for using one pair only, is that it gives an insight into how you can get to know your chosen pair and learn its behaviour. That gives you an opportunity to see how it deals with various situations and lets you make solid judgement calls like "when is a breakout bar not a breakout bar?"
  • #13,560
  • Edited 9:41pm Oct 11, 2018 8:31pm | Edited 9:41pm
USDJPY M15 only
Trade 1 of 10:

Of course my first one is a loser lol. After 5 winning demo trades in a row.
Pips: -14 (two positions)

Entry (just barely touched it):

Attached Image (click to enlarge)
Click to Enlarge Name: Trade 1 - Entry.PNG Size: 68 KB


Exit:

Attached Image (click to enlarge)
Click to Enlarge Name: Trade 1 - Exit.PNG Size: 71 KB


Something to possibly take away from this is that M15 PA was showing HHs and HLs
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