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Highest Open / Lowest Open Trade

  • #15,601
  • Mar 11, 2021 11:19am Mar 11, 2021 11:19am
Quoting ramimoujaes
{quote} But the current day did not end, correct? If I open D1 chart, the current day is not over, so where do I place the line?
Yes, u are working based on todays highest and lowest Hourly opens. It is as simple as the rule suggests.

Here is todays hourly chart for GU. Where do you see the current highest and lower H1?
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  • #15,602
  • Mar 11, 2021 12:43pm Mar 11, 2021 12:43pm
Quoting ramimoujaes
Hello, how are you all? I hope everything is well I was just reading the strategy. I am trying to create an EA using this strategy to see the overall performance. I am a bit confused, because I do not know where to place the lines regarding the following statement: "Place a line at the highest H1 open and lowest H1 open for the current day." How does that work? Like the day did not end, so where do I place the lines?
Laying aside the fact that TooSlow constantly asks for no EA on the thread - it is as simple as it sounds: one line at highest H1 open and one line at lowest H1 open.

These lines are not set. They are flexible and can technically change every hour of the day.

Honestly, you would be better off learning the method and just trading it. An EA will not work - which you would know if you had read the thread and seen the demise of those who have come before you.
  • #15,603
  • Mar 11, 2021 1:19pm Mar 11, 2021 1:19pm
I borrowed Wizzlebizzle chart for a knowledge check.
Am I thinking the right way? thanks.

Attached Image (click to enlarge)
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  • #15,604
  • Mar 11, 2021 3:48pm Mar 11, 2021 3:48pm
Quoting keshan
I borrowed Wizzlebizzle chart for a knowledge check. Am I thinking the right way? thanks. {image}
The low is good as far as I can tell. Don't know why you are choosing to look at the middle of the chart for the highest open. A bit confusing to look at, but if that would be the "active" candle you marked, you had the highest hourly open on the bar before (the red one).

Hope that helps
  • #15,605
  • Edited 7:44pm Mar 11, 2021 6:37pm | Edited 7:44pm
Quoting Wizzlebizzle
{quote} The low is good as far as I can tell. Don't know why you are choosing to look at the middle of the chart for the highest open. A bit confusing to look at, but if that would be the "active" candle you marked, you had the highest hourly open on the bar before (the red one). Hope that helps
yes that’s just for practice purposes , I assume that is the active candle and none of the ones to its right exist when I am in front of my screen. I think that’s a more realistic scenario, we can’t be in front of screens 24 hours a day.

I am still trying to understand why you say the highest hourly open is the red bar.
I think I get it, it’s the highest open, why I am always thinking of the open of the bar with the highest high.
So the red bar opens higher than the active bar in the chart.
  • #15,606
  • Mar 11, 2021 8:07pm Mar 11, 2021 8:07pm
Quoting keshan
{quote} yes that’s just for practice purposes , I assume that is the active candle and none of the ones to its right exist when I am in front of my screen. I think that’s a more realistic scenario, we can’t be in front of screens 24 hours a day. I am still trying to understand why you say the highest hourly open is the red bar. I think I get it, it’s the highest open, why I am always thinking of the open of the bar with the highest high. So the red bar opens higher than the active bar in the chart.
If you have looked at TooSlow's 1-2-3 thread, then it is possible you are mixing up the two methods.

If so, pick one and stick to it until mastered.
  • #15,607
  • Mar 11, 2021 10:43pm Mar 11, 2021 10:43pm
Quoting ramimoujaes
{quote} But the current day did not end, correct? If I open D1 chart, the current day is not over, so where do I place the line?
Use the tools provided in this thread. The indicator will place the lines for you.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #15,608
  • Mar 11, 2021 10:45pm Mar 11, 2021 10:45pm
Quoting lemercenaire
{quote} If you have looked at TooSlow's 1-2-3 thread, then it is possible you are mixing up the two methods. If so, pick one and stick to it until mastered.
A HOLO can be a 1-2-3.

A 1-2-3 can be a HOLO.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #15,609
  • Mar 12, 2021 3:08am Mar 12, 2021 3:08am
Hello TS and all,
thanks for thread. Read all pages. I´ve started TooSlow 10 trade challenge this week. Followed all rules for now. Trading only EUR/USD.I have decided to give it 100 trades to collect data and decide if this system is profitable for me. Through out all garbage (trendline,S/R, candlesm etc.) out of may head and only following this method. I am mostly shares/crypto investor and this is only hobby for me so far.

Right now 3 losses and 3 BE +1 trade for me so I am -2,5% down for now.

Keep going


"When there is freedom from mechanical conditioning, there is simplicity. The classical man is just a bundle of routine, ideas and tradition. If you follow the classical pattern, you are understanding the routine, the tradition, the shadow - you are not understanding yourself." Bruce
  • #15,610
  • Edited 5:28am Mar 12, 2021 5:01am | Edited 5:28am
No set ups yesterday, wanted to avoid the bullish freight train that was GU.

Today though, I want to reflect on something. Hesitation led me to miss out on a big opportunity, but I didn't succumb to FOMO, I kept my cool and didn't jump in for the sake of it. I guess that's a good thing?

After GU travels 100ish pips, we normally see a fade back towards the daily open. The idea was there, the HOLO entry was there... the execution was not.

In the image, you can see we had a 1M open in the area of interest, followed by a very nice bullish move. However, I wasn't quick enough to pull the trigger as I was too busy trying to place a buy stop LOL. Had I entered at the market, I would have gotten in at LO +1 pip (spread), which I am fine with. But, I messed up! By the time I could have entered after faffing around like an idiot, I would have been 3 or 4 pips too late... I don't want to be taking sloppy entries like that, so I didn't let FOMO get the best of me and just sat this one out.

Hey ho, there's always another opportunity, on to the next one!

P.S TooSlow, I hope it's OK for me to share things like this, your simple entry method has really helped me with my trading, so I am just sharing my trades/thoughts in case they may help someone else. If you feel this isn't the place, please let me know. I appreciate all your work!
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  • #15,611
  • Mar 12, 2021 8:06am Mar 12, 2021 8:06am
A risky trade to take, we were below yesterday's low, but resting at a key level; so for me, the potential risk/reward was worth it. Small loss. -8 pips. I am done for the week, see you all on Monday!
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  • #15,612
  • Mar 13, 2021 9:33am Mar 13, 2021 9:33am
Quoting LooseMyMoney
Hello TS and all, thanks for thread. Read all pages. I´ve started TooSlow 10 trade challenge this week. Followed all rules for now. Trading only EUR/USD.I have decided to give it 100 trades to collect data and decide if this system is profitable for me. Through out all garbage (trendline,S/R, candlesm etc.) out of may head and only following this method. I am mostly shares/crypto investor and this is only hobby for me so far. Right now 3 losses and 3 BE +1 trade for me so I am -2,5% down for now. Keep going "When there is freedom from mechanical...
10 Trade challenge finnished

Weekend analysis

P/L change -0,28% (this is caused becuase I put for first loosing trade 5x more lot value that standard so If I make positions size correctly I will be in positive %)
pips: +1,2
3 losses
5 Be +1
2 wins

hindsights for next week and another 10 trades

correct positions sizing
2x lot size and split it into 2 trades, first close at +5 to get more steady curve and second position manage to get multiple RR gain to maximize equity gain

Avoid freight trains that caused me 2 loosing trades
Also I had to leave screen at last profitable trade left me only with +1,19% gains if I stayed at screen I would manage it to around + 4/5 % /according to my rules) for this trade but that´s the game..


So at the end this system is about to limit your losses with your SL below current low (for me its 1%) move to BE +1, and take partial profit +5 to equalize losses and from to time get trade (called "gainer") with multiple 3-4% gain and according to thread form month to month with gainer like 10% to boost your account and rest is just money managament

Crucial is to surive freight trains and not get multiple SL in one session and then enjoy ranging/choppy market

Good for me

See you next week

Mistakes are always forgivable, if one has the courage to admit them.

– Bruce Lee

  • #15,613
  • Mar 14, 2021 12:44pm Mar 14, 2021 12:44pm
Who is taking the 10 trade challenge the week of March 14, 2021?

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
  • #15,614
  • Mar 14, 2021 12:58pm Mar 14, 2021 12:58pm
Quoting LooseMyMoney
{quote} 10 Trade challenge finnished Weekend analysis P/L change -0,28% (this is caused becuase I put for first loosing trade 5x more lot value that standard so If I make positions size correctly I will be in positive %) pips: +1,2 3 losses 5 Be +1 2 wins hindsights for next week and another 10 trades correct positions sizing 2x lot size and split it into 2 trades, first close at +5 to get more steady curve and second position manage to get multiple RR gain to maximize equity gain Avoid freight trains that caused me 2 loosing trades Also I had to...
To stop LOSING and avoid FREIGHT TRAINS, look for the indicator to warn you when price has broken the previous day's high/low. Do not trade against the H4 candle when price has broken out of those levels.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #15,615
  • Mar 15, 2021 8:50am Mar 15, 2021 8:50am
Quoting TooSlow
{quote} To stop LOSING and avoid FREIGHT TRAINS, look for the indicator to warn you when price has broken the previous day's high/low. Do not trade against the H4 candle when price has broken out of those levels.
Thank you. I added this into my trading plan. Today ended up with with 1 win and 2 BE+ 1 in total +1,32 % equity gain. Also I have to admit that I am not satisfied with result because in hindsight it should be around 3% according to trade management but PRICE and market does what it does

Better BE +1 than loose



Knowing is not enough, we must apply. Willing is not enough, we must do.

– Bruce Lee

  • #15,616
  • Mar 15, 2021 8:27pm Mar 15, 2021 8:27pm
Attached Image (click to enlarge)
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took my first trade, and I guess I messed up with the wrong pair, it just went sideway for almost an hour. out with BE + 0.2
usually by the time I close the position, that's when the price starts to move. :-D
  • #15,617
  • Mar 16, 2021 2:29am Mar 16, 2021 2:29am
Quoting keshan
{image} took my first trade, and I guess I messed up with the wrong pair, it just went sideway for almost an hour. out with BE + 0.2 usually by the time I close the position, that's when the price starts to move. :-D
that is definitely a very hard pair to play, even for an experienced trader.

concentrate only on the majors, if you want to spread pairs.
trading is like dancing, don't think and just listen to the music!
  • #15,618
  • Mar 17, 2021 4:33am Mar 17, 2021 4:33am
Quoting LooseMyMoney
{quote} Thank you. I added this into my trading plan. Today ended up with with 1 win and 2 BE+ 1 in total +1,32 % equity gain. Also I have to admit that I am not satisfied with result because in hindsight it should be around 3% according to trade management but PRICE and market does what it does Better BE +1 than loose Knowing is not enough, we must apply. Willing is not enough, we must do. – Bruce Lee
hello all,
on the way in my second 10 trade challenge, implemented Too Slow comments about freigh trains, today received gift from price and market +2,33% equity gain

Attached Image (click to enlarge)
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Move on



In the middle of chaos lies opportunity.

– Bruce Lee

  • #15,619
  • Mar 17, 2021 10:03am Mar 17, 2021 10:03am
Quoting TooSlow
Who is taking the 10 trade challenge the week of March 14, 2021? 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!
Hello mate,
another 10 trade challenge finished, traded EUR/USD and followed all rules.

Applied your thoughts about freight trains and also split position into 2, to get better steady curve

Here are results:

3 losses (I have to think about entering between Frankfurt 08:00 a.m. and London open 09:00 a.m., this time is a little bit strange for price and have a lot of PRICE breaks to expand daliy range and this caused my SL this time)

2 BE+1 (nothing to say about it, better BE than loss maybe I moved SL to fast to BE+ but after analysis I thought it is FEAR that controls but I don´t think. I am so far satisfied with these BE)

5 wins ( 4 profitable trades was caused by closed half position at +5 pips so this addition is pretty good, 1 profitable trade was for almost 2,5% gain so these trades are pretty usefull from time to time to boost your account)

In total + 2,43% equity gain

Even though this evening (my time) is FOMC that could be pretty volatile and nice for this method I am pretty tired and need some break

I hope that my post could encourage some newbies to go for it and try it. It is better than shinny pretty indicators and I am in green after one and a half week. Imagime how it will be once I will learn this strategy properly

Green pips to all
  • #15,620
  • Mar 18, 2021 3:58am Mar 18, 2021 3:58am
Quoting LooseMyMoney
{quote} Hello mate, another 10 trade challenge finished, traded EUR/USD and followed all rules. Applied your thoughts about freight trains and also split position into 2, to get better steady curve Here are results: 3 losses (I have to think about entering between Frankfurt 08:00 a.m. and London open 09:00 a.m., this time is a little bit strange for price and have a lot of PRICE breaks to expand daliy range and this caused my SL this time) 2 BE+1 (nothing to say about it, better BE than loss maybe I moved SL to fast to BE+ but after analysis I thought...
3 rd 10 TRADE challenge started

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+21,6 pips ( +2,11%)

So far I need only 2 lines and chart. I am still not sure If I wll use provided indicators. It could confuse my thinking

Green pips to all
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