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Highest Open / Lowest Open Trade

  • #14,461
  • Nov 28, 2019 11:23am Nov 28, 2019 11:23am
Quoting lemercenaire
{quote} Well, I could tell you if it's correct but instead, it would benefit yourself and no doubt other beginning traders here, if you were to run through and list here your decision making process. That is a much more useful and beneficial way of learning (for all). After you have done that, you can genuinely tell us whether you were correct.
Yes i followed the list, I believe its correct
  • #14,462
  • Nov 28, 2019 11:26am Nov 28, 2019 11:26am
Quoting 4xtrader41
{quote} Yes i followed the list, I believe its correct
Good.
  • #14,463
  • Nov 28, 2019 1:52pm Nov 28, 2019 1:52pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #14,464
  • Nov 28, 2019 1:54pm Nov 28, 2019 1:54pm
Quoting 4xtrader41
{quote} Yes i followed the list, I believe its correct
What is most important is WAS IT PROFITABLE?

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #14,465
  • Nov 28, 2019 2:08pm Nov 28, 2019 2:08pm
Quoting TooSlow
{quote} What is most important is WAS IT PROFITABLE? {image}
yes it was profitable, 59 pips of profits!!
  • #14,466
  • Nov 28, 2019 4:32pm Nov 28, 2019 4:32pm
Quoting 4xtrader41
For anyone considering this, these 6 pictures will help you a TON!!!! I looked at these, besides about 200 pictures of TooSlow trades And of course i back tested etc {image} {image} {image} {image} {image} {image}
4xtrader, this is a fantastic example of how to enter a trade via this method. Well done...
Good work is the key to good fortune
  • #14,467
  • Nov 28, 2019 5:17pm Nov 28, 2019 5:17pm
Quoting 4xtrader41
For anyone considering this, these 6 pictures will help you a TON!!!! I looked at these, besides about 200 pictures of TooSlow trades And of course i back tested etc {image} {image} {image} {image} {image} {image}

For who still doesn't understand, talking about a short trade:

You have two lines.

Line 1= Highest Open
Line 2= Current daily high.

Between those two lines you have your "interest zone". You have to wait that an m15/m5/m1 candle opens in this zone in order to trigger a trade when the next candle will break down the Line 1 (Highest open).

You have to wait a sort of pullback. That's it.
  • #14,468
  • Nov 28, 2019 11:02pm Nov 28, 2019 11:02pm
Quoting MrGreen95
{quote} For who still doesn't understand, talking about a short trade: You have two lines. Line 1= Highest Open Line 2= Current daily high. Between those two lines you have your "interest zone". You have to wait that an m15/m5/m1 candle opens in this zone in order to trigger a trade when the next candle will break down the Line 1 (Highest open). You have to wait a sort of pullback. That's it.
Mr Green 95,

Thanks for your kindly explain,...
I am NEWBIE,....
May you be kind enough to tell me the latest template and indicators using so far ?

Thanks for your kindly help,..

Best Regards,

Budi Dharma
  • #14,469
  • Nov 29, 2019 5:07am Nov 29, 2019 5:07am
Quoting budidharma19
{quote} Mr Green 95, Thanks for your kindly explain,... I am NEWBIE,.... May you be kind enough to tell me the latest template and indicators using so far ? Thanks for your kindly help,.. Best Regards, Budi Dharma

You find all what you need in this thread, no newer tpl that works better. It's just a line
  • #14,470
  • Nov 29, 2019 5:01pm Nov 29, 2019 5:01pm
My trade from today
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  • #14,471
  • Dec 1, 2019 12:16am Dec 1, 2019 12:16am
Hi All
I am going to attempt the 10 trade challenge this coming week using UJ M15. I am located in Melbourne Australia and will look to trade from 02:00 server time (11:00 am local time). Can I please check how feasible is this given that we are only two hours into the Day even though Sydney and Tokyo are both open and what other traders in the same time zone do?
  • #14,472
  • Dec 1, 2019 10:44am Dec 1, 2019 10:44am
Who is taking the 10 trade challenge the week of DECEMBER 1, 2019?

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
  • #14,473
  • Dec 1, 2019 12:05pm Dec 1, 2019 12:05pm
Quoting edwardko
Hi All I am going to attempt the 10 trade challenge this coming week using UJ M15. I am located in Melbourne Australia and will look to trade from 02:00 server time (11:00 am local time). Can I please check how feasible is this given that we are only two hours into the Day even though Sydney and Tokyo are both open and what other traders in the same time zone do?
This has been discussed many times through the life of the thread.

Two ways to deal with it:

1: Just set the template for your local broker's day open and trade what you see. You will get different results than others in the UK and US but you can trade directly off the charts in front of you. Use pairs that are active at that time for you, ie JPY, AUD, NZD etc.

2: Open a demo acc with a UK (or US if you are able) based broker and set your charts using their info. Then place your trades on your own, live local broker. That way you will have the same basic look and info as TS and others here.
  • #14,474
  • Dec 1, 2019 10:36pm Dec 1, 2019 10:36pm
My first UJ challenge trade ended with 1R profit. I will trail SL in my next trades after I modify my Trade Manager EA. As you can see on the Entry screenshot, there was a warning - H1 HIGH BREAKOUT. Can I please ask the community what should one do in the face of such a warning? Should I have avoided the trade until that hour has finished and the warning extinguished?

The reason why I took the trade was that I saw the current day D(0) high was tested by a red candle and held. and it was followed by a second developing red candle and that gave me the confidence to enter.

Please critique this trade as I am here to learn, fully realising that just because the trade ended in profit, it does not mean that it was correctly taken.

Thanking you all in advance.
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  • #14,475
  • Dec 2, 2019 5:12am Dec 2, 2019 5:12am
Quoting edwardko
My first UJ challenge trade ended with 1R profit. I will trail SL in my next trades after I modify my Trade Manager EA. As you can see on the Entry screenshot, there was a warning - H1 HIGH BREAKOUT. Can I please ask the community what should one do in the face of such a warning? Should I have avoided the trade until that hour has finished and the warning extinguished? The reason why I took the trade was that I saw the current day D(0) high was tested by a red candle and held. and it was followed by a second developing red candle and that gave me...
Hi, have you set your trade manager EA with the TS rules?, if it so, could you please share the EA and the .set that you have used?.
Thank you
  • #14,476
  • Dec 2, 2019 5:49am Dec 2, 2019 5:49am
Hi All, I am trying to understand Rule 1 which says "No entry on H1, M15 or M5 breakout bars".

If the day's high was broken at 05:22 server time (ie the 05:00 bar on the H1 chart or the 05:15 bar on the M15 chart or the 05:20 bar on the M5 chart), we are not to place a Sell Stop order even though the Open on the 05:15 M15 bar or the Open on the 05:20 M5 bar are in the Zone of Interest.

If the next M15 bar starting at 05:30 or the 05:25 bar on the M5 chart opens in the Zone of Interest, is it valid to place a Sell Stop Order? or Do we wait until the 05:00 H1 bar has been completed before we start looking for M15/M5 bars that open in the Zone of Interest ie 06:xx onwards?

Thanks for your clarifications.
Regards
Edward
  • #14,477
  • Dec 2, 2019 5:52am Dec 2, 2019 5:52am
Quoting hhc
{quote} Hi, have you set your trade manager EA with the TS rules?, if it so, could you please share the EA and the .set that you have used?. Thank you
Hi HHC, Let me clean this up first and test it and I would be happy to share the code. The EA just places the Buy or Sell Stop orders and moves SL to BE+1 and then every 5 pips thereafter.
  • #14,478
  • Dec 2, 2019 9:14am Dec 2, 2019 9:14am
my trade from today
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  • #14,479
  • Dec 2, 2019 12:40pm Dec 2, 2019 12:40pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #14,480
  • Dec 2, 2019 12:41pm Dec 2, 2019 12:41pm
Quoting edwardko
{quote} Hi HHC, Let me clean this up first and test it and I would be happy to share the code. The EA just places the Buy or Sell Stop orders and moves SL to BE+1 and then every 5 pips thereafter.
EAs are NOT WELCOME HERE!

READ POST #1.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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