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Highest Open / Lowest Open Trade

  • #13,641
  • Dec 4, 2018 9:43am Dec 4, 2018 9:43am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,642
  • Dec 4, 2018 9:45am Dec 4, 2018 9:45am
Quoting Rfs199
{quote} Quick question. Rule #1 in the template states that we should not trade on H1, M5, or M15 breakout bars, but they don't say anything regarding breakout from previous daily lows / highs. Still, there's the warning to trade those with caution in the first post (the template states that as well with the "EXTREME CAUTION" message). I guess my question is, if I'm doing the 10 trade challenge, would it be within the rules to trade if...
The rules don't say anything regarding.... is the answer. You decide whether or not to trade under those circumstances.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,643
  • Dec 4, 2018 11:09am Dec 4, 2018 11:09am
treade 8 in chalenge is breakeven
results dont look very good so far because not many wins
but 2 more trades is needed
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  • #13,644
  • Dec 4, 2018 10:37pm Dec 4, 2018 10:37pm
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  • #13,645
  • Dec 5, 2018 5:22am Dec 5, 2018 5:22am
Quoting forexdg
treade 8 in chalenge is breakeven results dont look very good so far because not many wins but 2 more trades is needed {image}
The trade offered 5+ pips. You chose not to take profit. You create the results.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,646
  • Dec 5, 2018 6:17am Dec 5, 2018 6:17am
i agree with TS, its very important-especially with this strategy-to take +5 pips when u have them.
trading is like dancing, don't think and just listen to the music!
  • #13,647
  • Dec 5, 2018 8:13am Dec 5, 2018 8:13am
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USDCAD RED NEWS DAY.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,648
  • Dec 5, 2018 8:32am Dec 5, 2018 8:32am
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  • #13,649
  • Dec 5, 2018 8:46am Dec 5, 2018 8:46am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,650
  • Dec 5, 2018 9:34am Dec 5, 2018 9:34am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,651
  • Dec 7, 2018 5:46am Dec 7, 2018 5:46am
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NFP DAY
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,652
  • Dec 7, 2018 6:43am Dec 7, 2018 6:43am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,653
  • Dec 7, 2018 8:10am Dec 7, 2018 8:10am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,654
  • Dec 8, 2018 10:24am Dec 8, 2018 10:24am
Who is taking the 10 trade challenge the week of DECEMBER 9, 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
  • #13,655
  • Dec 8, 2018 8:00pm Dec 8, 2018 8:00pm
Morning, all!

The challenge sounds like a good way to get acquainted with the approach and master it. I'm up for the challenge the week of December 9, 2018. Will take USD/JPY. Would welcome any advice from the pros and everyone who has recently taken the challenge and can share out of their experience. The number one advice is to stick to the rules.

Cheers, mates!
Buy low, sell high.
  • #13,656
  • Dec 10, 2018 4:31am Dec 10, 2018 4:31am
First trade. Note to self: need to find a broker that allows smaller limits; the current one is at 40 points.
Attached Image (click to enlarge)
Click to Enlarge Name: Entrance - [USDJPY,M15].png Size: 433 KB
Buy low, sell high.
  • #13,657
  • Dec 10, 2018 9:34am Dec 10, 2018 9:34am
Do not see any available trades today.
Buy low, sell high.
  • #13,658
  • Dec 10, 2018 10:37am Dec 10, 2018 10:37am
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 59 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,659
  • Dec 10, 2018 8:13pm Dec 10, 2018 8:13pm
Quoting TooSlow
{image}
Thanks for the chart, TooSlow. Very informative. Let me take it step-by-step in a couple of posts.

I was cautious to trade the Lowest Open because it was a breakout of the PrevDayLow. MichaelG has identified two types of breakouts here, https://www.forexfactory.com/showthr...57#post9007857

Do you have anything else to add to his comments?
Buy low, sell high.
  • #13,660
  • Dec 10, 2018 8:32pm Dec 10, 2018 8:32pm
Quoting TooSlow
{image}
As for Higher Open, a part of the difficulty is when the lines move. When they move, like in the example above, one has to quickly figure out the new area of interest and wait for a valid signal. This is where the training of mind comes handy. Your advice from this post helps,

https://www.forexfactory.com/showthr...75#post9007475

By the way, nice indicator to delineate pips by 5. Is it custom made and available for download?
Buy low, sell high.
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