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Highest Open / Lowest Open Trade

  • #14,521
  • Dec 10, 2019 7:53pm Dec 10, 2019 7:53pm
Quoting edwardko
{quote} I know TS that you had commented on this same point previously, but I guess it is a personal preference to perhaps reduce the probability of a false breakout.
No such thing exists. A breakout out of 1 point is still a breakout.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #14,522
  • Dec 11, 2019 1:08am Dec 11, 2019 1:08am
Quoting edwardko
{quote} Hi S80808, .
Thanks for your details!
But, please, once again just for my understanding - here with real time screenshots:
Are my entry candles right? (marked with the arrows)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSDM15.png Size: 52 KB
Click to Enlarge Name: GBPUSDM15.png Size: 43 KB
Click to Enlarge Name: USDJPYM15.png Size: 47 KB
Just an opinion. Based on research
  • #14,523
  • Dec 11, 2019 1:16am Dec 11, 2019 1:16am
Quoting since80808
{quote} Thanks for your details! But, please, once again just for my understanding - here with real time screenshots: Are my entry candles right? (marked with the arrows) {image} {image} {image}
In general, I think you're on the right track. comments though -

GBPUSD - I think you should not enter before 02:00 server time Additionally, both NY and London markets are closed, whilst it has drifted up 25 pips, there is little volume until the European sessions open.

USDJPY - I've been watching this all day and I don't like the entry levels - boxes are big and the movement so far has been in a tight band.

AUDUSD I like better but am staying focussed on UJ until I have completed my 10 Trade Challenge

Hope this helps.
  • #14,524
  • Dec 11, 2019 2:39am Dec 11, 2019 2:39am
And once again
Attached Image

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM15.png Size: 55 KB

Just an opinion. Based on research
  • #14,525
  • Dec 11, 2019 5:02am Dec 11, 2019 5:02am
Quoting since80808
And once again {image} {image}

Let me first state: I am no expert.

Looking at my chart, your first entry candle on AU made a new high by 1 pipette, maybe you entered prior to that. The second entry (AU) was during an hour that made a new Daily high as well (two candles back from entry). I don't believe these were by the rules.
Wow! I've got some experience to gain.
  • #14,526
  • Edited 12:55pm Dec 11, 2019 7:08am | Edited 12:55pm
Quoting since80808
{quote} Thanks for your details! But, please, once again just for my understanding - here with real time screenshots: Are my entry candles right? (marked with the arrows) {image} {image} {image}
Read the rules on your chart. Did you follow the rules? A trader must rely on themselves.

Attached Image (click to enlarge)
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #14,527
  • Edited 12:54pm Dec 11, 2019 7:09am | Edited 12:54pm
Quoting edwardko
{quote} In general, I think you're on the right track. comments though - GBPUSD - I think you should not enter before 02:00 server time Additionally, both NY and London markets are closed, whilst it has drifted up 25 pips, there is little volume until the European sessions open. USDJPY - I've been watching this all day and I don't like the entry levels - boxes are big and the movement so far has been in a tight band. AUDUSD I like better but am staying focussed on UJ until I have completed my 10 Trade Challenge Hope this helps.
Have you mastered this method? Have you mastered trading at all? Do you have data to back your comments or it is just your opinion? Mate, trading is serious business. Cheers!

Attached Image
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #14,528
  • Dec 11, 2019 4:30pm Dec 11, 2019 4:30pm
Attached Image (click to enlarge)
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #14,529
  • Dec 12, 2019 3:27pm Dec 12, 2019 3:27pm
UJ 10 Trade challenge - Trades 9 and 10. UJ fell early on during the Day and bounced off lower open and for the whole of the Asian session drifted higher by around 18 pips. New high for the day was created at around 09:40 server time and pulled back. M15 did not provide any entries and so dropped down to M5. First entry (Trade 8) was made when prices re-entered the Zone of Interest for the second time (Missed the first retest). Prices didn't hold and SL was taken with 1R loss.

Kept on the charts until new high was formed at around 11:50 server time and sold at 12:10 after the new hour created a higher open and a smaller box. Went to bed and let position on auto pilot. 1st 1/2 was closed with 5 pips profit as was 2nd part to give a 1.1R return.

Overall for the two trades 0.1R.

My thanks to Too Slow for sharing his methodology and guiding us newbies and to Lemercenaire for his encouragement. It has been a worthwhile journey with 8 winners (including BE+1pip) and 2 losses netting 7R over the 10 trades.

I will certainly continue using and expanding this methodology to other pairs and honing this newly acquired skill set.
Attached Image (click to enlarge)
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  • #14,530
  • Dec 12, 2019 5:13pm Dec 12, 2019 5:13pm
Quoting edwardko
UJ 10 Trade challenge - Trades 9 and 10. UJ fell early on during the Day and bounced off lower open and for the whole of the Asian session drifted higher by around 18 pips. New high for the day was created at around 09:40 server time and pulled back. M15 did not provide any entries and so dropped down to M5. First entry (Trade 8) was made when prices re-entered the Zone of Interest for the second time (Missed the first retest). Prices didn't hold and SL was taken with 1R loss. Kept on the charts until new high was formed at around 11:50 server time...
Well done and hopefully you will indeed continue to test and expand your knowledge base in what is an admirably controlled manner.

If you do, I have no doubt you will be successful.
  • #14,531
  • Dec 13, 2019 6:01am Dec 13, 2019 6:01am
Quoting TooSlow
{quote} Not pissing down your leg. YouTube has videos of the ADVANCED ALIEN CIVILIZATION TECHNOLOGY indicators.
Hi, by any chance the author that your are referring to is "TheRumpledOne" on youtube?. Thank you.
  • #14,532
  • Dec 13, 2019 6:30am Dec 13, 2019 6:30am
Quoting hhc
{quote} Hi, by any chance the author that your are referring to is "TheRumpledOne" on youtube?. Thank you.
Maybe...
  • #14,533
  • Edited 6:50pm Dec 14, 2019 6:18pm | Edited 6:50pm
Quoting yonnie
TooSlow, the only problem I see is that we don't know which H1 candle will be the high/low of the day even if the current candle is the highest/lowest of the day so far. H1 candles after the current candle might go even higher/lower???
I trade the op's strategy using the daily candle, in this way it would be easier to detect the highs and the lows
CVMForex OF All Time Return: na
  • #14,534
  • Dec 16, 2019 6:24am Dec 16, 2019 6:24am
My first trade challenge on this thread
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  • #14,535
  • Dec 16, 2019 7:35am Dec 16, 2019 7:35am
Closed BE+1
  • #14,536
  • Dec 16, 2019 8:36am Dec 16, 2019 8:36am
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  • #14,537
  • Dec 16, 2019 8:42am Dec 16, 2019 8:42am
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  • #14,538
  • Dec 16, 2019 8:59am Dec 16, 2019 8:59am
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  • #14,539
  • Dec 16, 2019 9:45am Dec 16, 2019 9:45am
Chfjpy lost...audchf BE+1
  • #14,540
  • Dec 16, 2019 10:45am Dec 16, 2019 10:45am
Who is taking the 10 trade challenge the week of DECEMBER 15, 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
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