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Trading is as simple as 1-2-3

  • #10,801
  • Jun 1, 2021 2:01am Jun 1, 2021 2:01am
Quoting demon83
{quote} Hello i am new on this thread. I have some question, may be you help me. We wait close 1H candle with max\min of the current day. On the next candle we wait then price go up\down from price open this candle? I am true? On your situation you open position when price go up from H1 Open 1.21895? Thx for replying.
Yes, same as the rules.
  • #10,802
  • Jun 1, 2021 4:13am Jun 1, 2021 4:13am
UC +4 locked
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  • #10,803
  • Jun 1, 2021 4:48am Jun 1, 2021 4:48am
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Long CA +5 locked
  • #10,804
  • Jun 1, 2021 4:54am Jun 1, 2021 4:54am
can someone please explain this method using a candlestick chart? thanks
  • #10,805
  • Jun 1, 2021 5:21am Jun 1, 2021 5:21am
Quoting shoely4love
can someone please explain this method using a candlestick chart? thanks
For Shorts. H1 chart. Do the opposite of Longs.

1: Did bar 'A' make a new high?

...if yes, then wait for the next bar and...

2: Did bar 'B' fail to make a new high?

...if yes, then...

3: Enter when price crosses back to the Open Level of bar 'B'
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  • #10,806
  • Jun 1, 2021 5:50am Jun 1, 2021 5:50am
Quoting Dulof
{quote} For Shorts. H1 chart. Do the opposite of Longs. 1: Did bar 'A' make a new high? ...if yes, then wait for the next bar and... 2: Did bar 'B' fail to make a new high? ...if yes, then... 3: Enter when price crosses back to the Open Level of bar 'B' {image}
If price cross Open Level of Bar B and after some time go back and renew High\Low. We out from trade? SL for position is High\Low of Bar A? Thx.
  • #10,807
  • Jun 1, 2021 8:13am Jun 1, 2021 8:13am
Quoting demon83
{quote} If price cross Open Level of Bar B and after some time go back and renew High\Low. We out from trade? SL for position is High\Low of Bar A? Thx.
If selling, the price (B) must go up first then go back above the opening price,selling is the opposite. If the price makes a new high or low then wait.
SL is placed below/above bar A. but I personally cut my losses manually
  • #10,808
  • Jun 1, 2021 9:22pm Jun 1, 2021 9:22pm
Quoting Dulof
{quote} For Shorts. H1 chart. Do the opposite of Longs. 1: Did bar 'A' make a new high? ...if yes, then wait for the next bar and... 2: Did bar 'B' fail to make a new high? ...if yes, then... 3: Enter when price crosses back to the Open Level of bar 'B' {image}
Hi Dulof.
Sorry for sticking my nose in, but to avoid any confusion....

That should read....Did bar A make a new LOW........and.....Did bar B fail to make a new LOW?

The same scenario for going short.....

Did bar A make a new HIGH.....(yes)
Did bar B fail to make a new HIGH....(yes)
Enter short as price moves back down and through the open price of candle B.

Attached Image



I hope that helps.
Cheers
  • #10,809
  • Jun 1, 2021 11:17pm Jun 1, 2021 11:17pm
Quoting MichaelG
{quote} Hi Dulof. Sorry for sticking my nose in, but to avoid any confusion.... That should read....Did bar A make a new LOW........and.....Did bar B fail to make a new LOW? The same scenario for going short..... Did bar A make a new HIGH.....(yes) Did bar B fail to make a new HIGH....(yes) Enter short as price moves back down and through the open price of candle B. {image} I hope that helps. Cheers
Welcome back, MichaelG.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #10,810
  • Jun 1, 2021 11:58pm Jun 1, 2021 11:58pm
Quoting MichaelG
{quote} Hi Dulof. Sorry for sticking my nose in, but to avoid any confusion.... That should read....Did bar A make a new LOW........and.....Did bar B fail to make a new LOW? The same scenario for going short..... Did bar A make a new HIGH.....(yes) Did bar B fail to make a new HIGH....(yes) Enter short as price moves back down and through the open price of candle B. {image} I hope that helps. Cheers
Thank you very much,MichaelG. it's good to have you because my english is not good to explain most accurately.
  • #10,811
  • Edited 5:25am Jun 2, 2021 3:01am | Edited 5:25am
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Short EJ +5 locked +30
  • #10,812
  • Jun 2, 2021 4:40am Jun 2, 2021 4:40am
EC +20 locked
try to hold position
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  • #10,813
  • Jun 2, 2021 5:18am Jun 2, 2021 5:18am
AU +1,5 pips
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  • #10,814
  • Jun 3, 2021 2:36am Jun 3, 2021 2:36am
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Long GU +5 locked
  • #10,815
  • Jun 3, 2021 4:24am Jun 3, 2021 4:24am
Hey everyone, commission and spread, which one will you choose to pay? . Currently my main pairs spread is at 10 points, I am planning to switch to paying commission on ICmarket (3,5usd/1lot).Which one do you think is better?

EU +4 . green pips for all
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  • #10,816
  • Jun 3, 2021 4:32am Jun 3, 2021 4:32am
Quoting Dulof
Hey everyone, commission and spread, which one will you choose to pay? . Currently my main pairs spread is at 10 points, I am planning to switch to paying commission on ICmarket (3,5usd/1lot).Which one do you think is better? EU +4 . green pips for all {image}
I think it depends on how you prefer to trade.
For example I have one strategy and there are 1 trade per week. I use spread broker for it. All that 10 points spread make no sense if you are trying to collect 500-1000 points.
And I have icmarkets with zero spread but 5.5$ per lot commission and I pay 70%/30% profit for them because there are 700 trades daily. So I pay 5.5$ and you pay 10$. Pretty big difference. BTW if you want to pay 5.5$ not 7$ pm me.
Observer effect
  • #10,817
  • Jun 4, 2021 3:00am Jun 4, 2021 3:00am
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Long GJ +5 locked
  • #10,818
  • Jun 4, 2021 3:12am Jun 4, 2021 3:12am
AU BE+1,5 better than loss
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  • #10,819
  • Jun 4, 2021 11:07am Jun 4, 2021 11:07am
Quoting MichaelG
{quote} Hi Dulof. Sorry for sticking my nose in, but to avoid any confusion.... That should read....Did bar A make a new LOW........and.....Did bar B fail to make a new LOW? The same scenario for going short..... Did bar A make a new HIGH.....(yes) Did bar B fail to make a new HIGH....(yes) Enter short as price moves back down and through the open price of candle B. {image} I hope that helps. Cheers
Welcome back MichaelG
I was just looking into the thread in case you did a tutorial also for this method but it appears no.
Found your visual explanation above clear as usual.
Thanks
  • #10,820
  • Jun 6, 2021 10:02pm Jun 6, 2021 10:02pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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