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Highest Open / Lowest Open Trade

  • #14,841
  • Jun 16, 2020 5:17pm Jun 16, 2020 5:17pm
Quoting TooSlow
{quote} Place your stop 1 pip outside the high/low. Adjust your position size so your risk is constant. Cheers!

Thanks, how long have you been profitable using this method?
  • #14,842
  • Jun 17, 2020 2:13am Jun 17, 2020 2:13am
Here are my first 3 trades.
CADJPY got stopped a few minutes after entry.
Attached Image

AUDUSD I'm not sure why the zone of interest disappeared
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NZDUSD looks good, I think
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  • #14,843
  • Jun 17, 2020 3:42pm Jun 17, 2020 3:42pm
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 67 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #14,844
  • Jun 18, 2020 4:34pm Jun 18, 2020 4:34pm
Does anyone is already having consistent profits using this method?
i've been doing some backtesting and trading in demo before i go real using this method.

I have a few questions, if someone can please answer them would be nice.

- Should we always use a TP of 5 pips minimum?
- Should we enter more than 1 trade at the same time?
- Should we trade all setups all day? or is it better at a specific time? like London or NY session

Thanks and happy trading to everyone!
  • #14,845
  • Jun 21, 2020 2:31pm Jun 21, 2020 2:31pm
Who is taking the 10 trade challenge the week of JUNE 21, 2020?

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
  • #14,846
  • Jun 21, 2020 2:32pm Jun 21, 2020 2:32pm
Quoting hesit
Does anyone is already having consistent profits using this method? i've been doing some backtesting and trading in demo before i go real using this method. I have a few questions, if someone can please answer them would be nice. - Should we always use a TP of 5 pips minimum? - Should we enter more than 1 trade at the same time? - Should we trade all setups all day? or is it better at a specific time? like London or NY session Thanks and happy trading to everyone!
There are over 740 pages in this thread, Mate. Have you read them or tried searching? Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #14,847
  • Jun 23, 2020 9:49pm Jun 23, 2020 9:49pm
Hi TooSlow! I’ve just come across your thread and I’ve been going through it the past few days, I’m clear on most of this strategy and what we aim to do however all I have is 2 Questions.

Question 1- If we are waiting for a setup to happen but price (on 15 mins chart) breaks through the H1 high and creates a new high, should we start over again by waiting for Current H1 candle to close and replotting our New H1 high and highest Open again?

Question 2- I’m confused on when to enter, Should I enter once Candle open in our area of interest and ‘Closes’ right below our Highest Open or should I just place my trade as a limit order below the Highest Open and not wait for candle close?

attached screenshots with contradicting information on when to enter the trade so I was just confused.

Thank you for sharing this Strategy with us!
Much Love Juke
Attached Image(s) (click to enlarge)
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  • #14,848
  • Jun 23, 2020 10:39pm Jun 23, 2020 10:39pm
Quoting JukeMasterIV
Hi TooSlow! I’ve just come across your thread and I’ve been going through it the past few days, I’m clear on most of this strategy and what we aim to do however all I have is 2 Questions. Question 1- If we are waiting for a setup to happen but price (on 15 mins chart) breaks through the H1 high and creates a new high, should we start over again by waiting for Current H1 candle to close and replotting our New H1 high and highest Open again? Question 2- I’m confused on when to enter, Should I enter once Candle open in our area of interest and ‘Closes’...
Answer 1 - You enter short at the highest open line.

Answer 2 - You enter short at the highest open line.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #14,849
  • Jun 24, 2020 12:37pm Jun 24, 2020 12:37pm
I return to these screens after a few days of absence. I moved from demo test to microlots test on a real account, monitoring 7 pairs which offer me a fairly low spread that allows me to use this trading system.

I'm struggling to be consistent with HiLo due to my exit strategy. I've great difficulty to let the profit run, I observed that very often, once 5 pips of profit have been reached, the price tends to return to BE. This, according to the official exit strategy, would result in a multitude of BE+1 trades. So I decided to edit my exit strategy and take profits systematically around 5 pips level (which means for me a net profit between 2 and 5 pips depending on the entry timing and the spread). Despite an excellent success rate (around 80%), I find myself with reduced revenue due to the few stop losses... which individually weigh much more than the small TPs.

A sample trading day:

  1. UCa net pips: 2,0
  2. AU net pips: 4,1
  3. EJ net pips: 1,6
  4. EJ net pips: 1,2
  5. UCh net pips: 0,0
  6. NU net pips: 1,9
  7. AU net pips: 1,6
  8. EJ net pips: 3,0
  9. NU net pips: 2,5
  10. UJ net pips: -7,9
  11. UCh net pips: -7,3
  12. UCa net pips: 0,3
    TOTAL PIPS: 3,0 (so much effort for nothing!)

Today was a better day, I gained over 45 pips with 12 operations, but reduced by about 20 pips due to a single stop loss hit.

I struggle to understand when it is worth leaving more room to the trade and when to close early. Tips?

  • #14,850
  • Jun 24, 2020 12:50pm Jun 24, 2020 12:50pm
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 68 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #14,851
  • Jun 24, 2020 12:52pm Jun 24, 2020 12:52pm
Quoting JustJD
I return to these screens after a few days of absence. I moved from demo test to microlots test on a real account, monitoring 7 pairs which offer me a fairly low spread that allows me to use this trading system. I'm struggling to be consistent with HiLo due to my exit strategy. ... Tips?
Here is a tip:

Use one method.
Trade one pair.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #14,852
  • Jun 25, 2020 4:13am Jun 25, 2020 4:13am
1st try with 5 tp till i get the hang of it..
Attached Image(s) (click to enlarge)
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Stop killing our Oceans, Stop using single use plastics.
  • #14,853
  • Jun 25, 2020 4:55am Jun 25, 2020 4:55am
Quoting TooSlow
{quote} Here is a tip: Use one method. Trade one pair.
I can only agree. especially the concentration on one pair only is important for me.
trading is like dancing, don't think and just listen to the music!
  • #14,854
  • Jun 25, 2020 8:42am Jun 25, 2020 8:42am
Quoting TooSlow
{quote} Here is a tip: Use one method. Trade one pair.
I can get your point. In these days, having more time to stand in front of the charts, I preferred to look at multiple pairs, to test myself on more signals and training on entry timing. There are whole days in which some pairs are impossible to trade... having a larger pool of pairs can protect you from negative days of your "favorite" pair. Despite this I understand that looking at one chart is definitely a more disciplined way to trade. Only one question remains: how to choose the perfect pair? I trade during UK session, so there are many pairs who might be suitable: EU, GU, EG and during the noons UJ, UCad and even AU.

Returning for a moment at the trade management. How to manage a trade like this?
(please look just at the price behaviour AFTER the entry, I know that this is not a correct entry because it is a breakout candle, in fact I did not enter. It's just the latest example I found, from today's charts.)

Attached Image (click to enlarge)
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- a logical exit point could be when price meet the down trendline
- letting the price run, applying the method rules, I'd have been stopped out at X, with a BE+1
Are there better ways to read a trade like this?
  • #14,855
  • Jun 25, 2020 4:07pm Jun 25, 2020 4:07pm
Quoting JustJD
... applying the method rules, I'd have been stopped out at X, with a BE+1 Are there better ways to read a trade like this?
That is better than a loss. No one has a "crystal ball".
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #14,856
  • Jun 25, 2020 4:14pm Jun 25, 2020 4:14pm
Hi too slow..

Thanks for sharing this trading system i'm now studying on this thread..
  • #14,857
  • Jun 26, 2020 2:51am Jun 26, 2020 2:51am
Round 2 +5 Again... close to London open spread was a bit wider so TP moved to suit..
Attached Image (click to enlarge)
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Stop killing our Oceans, Stop using single use plastics.
  • #14,858
  • Jun 26, 2020 7:11pm Jun 26, 2020 7:11pm
Who is taking the 10 trade challenge the week of JUNE 28, 2020?

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
  • #14,859
  • Jun 29, 2020 2:03am Jun 29, 2020 2:03am
trade 3. that was quick +5. probably could have taken 10 but lets see.
Attached Image (click to enlarge)
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Stop killing our Oceans, Stop using single use plastics.
  • #14,860
  • Jun 29, 2020 4:10am Jun 29, 2020 4:10am
I trade 40pips ongoing
Attached Image(s) (click to enlarge)
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