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Highest Open / Lowest Open Trade

  • #13,681
  • Dec 12, 2018 12:50pm Dec 12, 2018 12:50pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,682
  • Dec 12, 2018 2:27pm Dec 12, 2018 2:27pm
GJ paid well today!
  • #13,683
  • Dec 13, 2018 7:42am Dec 13, 2018 7:42am
Got a couple of pips each time. Observations:

 

  1. important to see whether the line moved; glad there was an indicator because I missed when the HO moved;
  2. the HO serves as a defense line, a couple of times wanted to simply short but did not to follow the rules;
  3. there was a long bar that reached all the way to the Day High; should the SL be daily high +0,5 pip?

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Buy low, sell high.
  • #13,684
  • Dec 14, 2018 8:38am Dec 14, 2018 8:38am
Today got stopped out after LO by BE+1 before the price went up high.

A question, what do you do when the opposite open is reached? Take some profit or nothing?
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Buy low, sell high.
  • #13,685
  • Dec 14, 2018 1:08pm Dec 14, 2018 1:08pm
Quoting HappyMan
Today got stopped out after LO by BE+1 before the price went up high. A question, what do you do when the opposite open is reached? Take some profit or nothing? {image}
Run your trades as you see fit. For me - if I understand your chart correctly - would have been out of that trade long before it reached your second area.
  • #13,686
  • Dec 14, 2018 1:14pm Dec 14, 2018 1:14pm
Quoting Lawnman
{quote} Hopefully Lemercenaire will return one day and confirm, but I think he will take another position when this happens and call it a double dip entry. I can't speak from personal experience on this as I usually just ride out the original trade.
Hi...and yes, Lawnman is correct. I personally would 'Double Dip'...I would, you don't have to, nor do the rules tell you to.
  • #13,687
  • Edited 2:27pm Dec 14, 2018 1:17pm | Edited 2:27pm
Quoting profitfarmer
{quote} could that 3 sleepless days would be better spend with some reading? the beauty of this system is in its simplicity. dont try to reinvent it by analyzing highly subjective bear/bull candle shapes. no need.
Spot on, profitfarmer. I should also point out the danger of not seeing the wood for the trees...if the situation you describe happens (price pushes on to a new High) then you are looking at a 1-2-3 set up, not HOLO.
  • #13,688
  • Dec 14, 2018 4:09pm Dec 14, 2018 4:09pm
Quoting lemercenaire
{quote} Hi...and yes, Lawnman is correct. I personally would 'Double Dip'...I would, you don't have to, nor do the rules tell you to.
Hey Buddy, Glad you're OK and back around!
Wow! I've got some experience to gain.
  • #13,689
  • Dec 14, 2018 4:45pm Dec 14, 2018 4:45pm
[quote=Lawnman;11800011]{quote} Hey Buddy, Glad you're OK and back around![/quote]

Cheers Bud. Not the best two weeks but it is what it is. Life and all that.

Good to be back - just in time for the holidays, lol.
  • #13,690
  • Dec 14, 2018 5:07pm Dec 14, 2018 5:07pm
Quoting lemercenaire
{quote} Run your trades as you see fit. For me - if I understand your chart correctly - would have been out of that trade long before it reached your second area.
Hi Lem, Got BE+1 right on that long green bar with long wicks after the first area. Wished I had a bigger SL. Got a couple of pips on the 2nd area when it was HO.
Buy low, sell high.
  • #13,691
  • Dec 15, 2018 4:46pm Dec 15, 2018 4:46pm
Quoting lemercenaire
{quote} Spot on, profitfarmer. I should also point out the danger of not seeing the wood for the trees...if the situation you describe happens (price pushes on to a new High) then you are looking at a 1-2-3 set up, not HOLO.
A HOLO can be a 1-2-3. A HOLO is not always a 1-2-3.

A 1-2-3 can be a HOLO. A 1-2-3 is not always a HOLO.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,692
  • Dec 15, 2018 4:46pm Dec 15, 2018 4:46pm
Who is taking the 10 trade challenge the week of DECEMBER 16, 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
  • #13,693
  • Dec 15, 2018 5:00pm Dec 15, 2018 5:00pm
Quoting TooSlow
Who is taking the 10 trade challenge the week of DECEMBER 16, 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!
Can you please refer to the post for this? Outlines of rules of the challenge etc.? I cannot find it. Does not have to be a beginner to focus on one pair. It might even be easier for intraday.
Fix up, trade sharp ...
  • #13,694
  • Dec 15, 2018 5:48pm Dec 15, 2018 5:48pm
Quoting Hickson
{quote} Can you please refer to the post for this? Outlines of rules of the challenge etc.? I cannot find it. Does not have to be a beginner to focus on one pair. It might even be easier for intraday.
No rules as such, H. Just what you see here.

Pick a pair. Take 10 live trades (preferably) - (micro lots are fine). Aim to end the week green. Rinse + Repeat until you are confident in what you are doing.
  • #13,695
  • Dec 15, 2018 10:47pm Dec 15, 2018 10:47pm
Quoting Hickson
{quote} Can you please refer to the post for this? Outlines of rules of the challenge etc.? I cannot find it. Does not have to be a beginner to focus on one pair. It might even be easier for intraday.
From POST #1:

CHALLENGE

Trade 0.01 lots for 10 trades.
Follow the rules exactly.
Stick with the same pair for all 10 trades.
Post your results.
NOTE:

Do not wait for the bar to close to enter a trade.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,696
  • Dec 16, 2018 3:13am Dec 16, 2018 3:13am
Quoting TooSlow
{quote} From POST #1: CHALLENGE Trade 0.01 lots for 10 trades. Follow the rules exactly. Stick with the same pair for all 10 trades. Post your results. NOTE: Do not wait for the bar to close to enter a trade.
Ah, yeah thanks, that part. Could be fun. No idea if trading next week though, christmas is approaching. January then.
Fix up, trade sharp ...
  • #13,697
  • Dec 17, 2018 12:20am Dec 17, 2018 12:20am
Quoting TooSlow
{quote} From POST #1: CHALLENGE Trade 0.01 lots for 10 trades. Follow the rules exactly. Stick with the same pair for all 10 trades. Post your results. NOTE: Do not wait for the bar to close to enter a trade.

Hi TooSlow,

First trade has ended positive. thank you for your system.

Please confirm if this was a valid trade.
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  • #13,698
  • Dec 17, 2018 3:00am Dec 17, 2018 3:00am
Hello,

Please let me know which candle is a valid entry point based on this system.
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  • #13,699
  • Dec 17, 2018 4:38am Dec 17, 2018 4:38am
Quoting amirr1361
Hello, Please let me know which candle is a valid entry point based on this system. {image}
#1

Now go find your checklist and come back and tell us why.
  • #13,700
  • Dec 17, 2018 4:45am Dec 17, 2018 4:45am
Quoting lemercenaire
{quote} #1 Now go find your checklist and come back and tell us why.
Thank you for response.

#1 was a new H1 High, I tough we shouldn't enter the trade on first H1 break out.
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