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Highest Open / Lowest Open Trade

  • #14,481
  • Dec 2, 2019 2:47pm Dec 2, 2019 2:47pm
Quoting TooSlow
{quote} EAs are NOT WELCOME HERE! READ POST #1.
Apologies TS. I place my trades manually and only use the EA to trail the SL for me. I will respect the rules of this thread.
  • #14,482
  • Dec 2, 2019 3:24pm Dec 2, 2019 3:24pm
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...
The warning is just that, a warning. It doesn't mean that the trade wouldn't work out but that in these cases, not taking them could save you being run over by a freight train.

Ultimately, the decision to take or not to take a trade is down to the individual trader, especially if he or she is combining entry rules with outside info, such as pa, etc.
  • #14,483
  • Dec 2, 2019 3:27pm Dec 2, 2019 3:27pm
Quoting edwardko
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...
Read it simply as written. If the H1,15-min or 5-min candle you are looking at goes into breakout mode, then you don't enter a trade.
  • #14,484
  • Dec 3, 2019 3:41am Dec 3, 2019 3:41am
My Trade 2 of 10 trade challenge exited by trailing SL. 1,6R in profit.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 109 KB
Click to Enlarge Name: Screenshot2.png Size: 84 KB
  • #14,485
  • Dec 3, 2019 5:13am Dec 3, 2019 5:13am
Quoting edwardko
My Trade 2 of 10 trade challenge exited by trailing SL. 1,6R in profit. {image} {image}
hey edward - wheres ur h1 lower open? Its seems ur blue shaded box is covering D open to D low?
  • #14,486
  • Dec 3, 2019 5:34am Dec 3, 2019 5:34am
Quoting Jp1
{quote} hey edward - wheres ur h1 lower open? Its seems ur blue shaded box is covering D open to D low?
This is a Sell trade from a higher open. The exit chart was screenshotted a bit late and the trade arrow shows when the trade was entered and exited (SL'ed)
  • #14,487
  • Dec 3, 2019 5:44am Dec 3, 2019 5:44am
Quoting edwardko
{quote} This is a Sell trade from a higher open. The exit chart was screenshotted a bit late and the trade arrow shows when the trade was entered and exited (SL'ed)
yes mate - see that. Im just trying to sort the settings out so was just checking ur chart to see what was included, and i couldnt see h1 lower open.....no worries
  • #14,488
  • Dec 3, 2019 6:32am Dec 3, 2019 6:32am
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 53 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #14,489
  • Dec 3, 2019 9:58am Dec 3, 2019 9:58am
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 52 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #14,490
  • Dec 3, 2019 3:25pm Dec 3, 2019 3:25pm
Quoting Jp1
{quote} yes mate - see that. Im just trying to sort the settings out so was just checking ur chart to see what was included, and i couldnt see h1 lower open.....no worries
Hi JP1,

When my screen shot was atken at 11:30 servertime, the Day Open for 3 Dec was also the lowest open for the last 11 hours and that is why you see the blue box but not the text or the line that says Lowest Open. This is the H1 chart. Hope this clarifies.
Attached Image (click to enlarge)
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  • #14,491
  • Edited 10:12pm Dec 3, 2019 9:48pm | Edited 10:12pm
My 10 Trade Challenge UJ M15 - Trade No 3 - Now at BE+1 pip.
Closed at BE + 1 pip
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Screenshot2.png Size: 85 KB
  • #14,492
  • Dec 4, 2019 4:20am Dec 4, 2019 4:20am
Quoting edwardko
My 10 Trade Challenge UJ M15 - Trade No 3 - Now at BE+1 pip. Closed at BE + 1 pip {image} {image}
Late entry. Failed to take profit at +5. Keep practicing, Mate. CHEERS!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #14,493
  • Dec 4, 2019 4:27am Dec 4, 2019 4:27am
Quoting TooSlow
{quote} Late entry. Failed to take profit at +5. Keep practicing, Mate. CHEERS!
Hi TS, I placed my buy stop at Lowest H1 open + 1 pip. I didn’t want it to fake trigger the buy.

Isnt the rule move SL to BE+1 pip when prices have moved by 5 pip. And the. Move to BE+5 pip when prices move 10 pips. Given that prices have not moved 10 pips, the logical outcome BE+1 pip?
  • #14,494
  • Dec 4, 2019 7:18am Dec 4, 2019 7:18am
Quoting edwardko
{quote} Hi TS, I placed my buy stop at Lowest H1 open + 1 pip. I didn’t want it to fake trigger the buy. Isnt the rule move SL to BE+1 pip when prices have moved by 5 pip. And the. Move to BE+5 pip when prices move 10 pips. Given that prices have not moved 10 pips, the logical outcome BE+1 pip?
Price turned against you. Take your profit.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #14,495
  • Dec 4, 2019 8:01am Dec 4, 2019 8:01am
Quoting TooSlow
{quote} Price turned against you. Take your profit.
Understood and thank you for your counsel.
  • #14,496
  • Dec 4, 2019 8:31am Dec 4, 2019 8:31am
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 63 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #14,497
  • Dec 4, 2019 9:19am Dec 4, 2019 9:19am
Quoting TooSlow
{image}
Hi, i am new on the thread and i have read post #1, i like to ask about the images that you post, like the last one, are trying to point that a possible sell trade will be available if price reach H1[53] Higher open and then when a candle open under that price it will be ok to open the trade with SL on d1[0] High?. Thnak you in advanced
  • #14,498
  • Dec 4, 2019 10:55am Dec 4, 2019 10:55am
Another one.....
Attached Image (click to enlarge)
Click to Enlarge Name: [GBPJPY,M15].png Size: 42 KB
  • #14,499
  • Dec 4, 2019 2:26pm Dec 4, 2019 2:26pm
Quoting hhc
{quote} Hi, i am new on the thread and i have read post #1, i like to ask about the images that you post, like the last one, are trying to point that a possible sell trade will be available if price reach H1[53] Higher open and then when a candle open under that price it will be ok to open the trade with SL on d1[0] High?. Thnak you in advanced
The chart in question showed a short trade hours ago. Currently, this pair is in WAIT-STATE. Cheers, Mate!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #14,500
  • Dec 5, 2019 12:01am Dec 5, 2019 12:01am
No trade for my 10 Trade challenge today (yet). There was a very very brief setup (for 2 mins and needed M1 or M5 to pick this up) just after the hour opened and a new higher open was created at 05:00 server time. I hesitated and it broke down.

UJ seems very sideways today (the range today so far has only been 16 or 17 pips on a ADR of 43 pips). Maybe a buy setup might show its hands later.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Screenshot3.png Size: 90 KB
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