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Highest Open / Lowest Open Trade

  • #16,201
  • Apr 4, 2022 4:23pm Apr 4, 2022 4:23pm
Unbelievable, almost one entry every hour. last two were quits, C was the freight train breakout, every candle a new low. B was not a perfect entry by the rules, I had to enter manually because the previous candle did not trigger for some reason and D I closed it manually after it went for a whole hour not going thru the H1 line.
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  • #16,202
  • Apr 4, 2022 7:42pm Apr 4, 2022 7:42pm
Just quickly and briefly here, I want to comment - reading the chart is necessary. Although many think it's not important, especially with a semi-automated or fully auto approach. IF one uses a price chart as one's primary source of information and knowledge then at least learn how to read it properly.

A strike point from day's beginning offer perspective. This is why I use a CT ROC line starting at open price for the day. An overactive move up or down tends to mean instant interest. Congestion areas = orders in/out and peeling off of risk. These are basics and have never ever changed or altered. Spikes are a measuring tape for risk of perceived loss .... not to confuse with actual loss. Price points/horizontal game is good if the perception of money is based on THAT time frame and horizon. But no good for people who eg. stick to one chart space and use Ma's and expect to appreciate what's coming just from that information alone. If your spread use is wider than 4 strike points then you need to access an additional contract fill to cover costs. Again these are basics and need to understood.

Strike point - basis point (In FX is 4th or 5th decimal place) of broker bid and offer and any added risk costs.

"Aged" momentum is ripe with open interest so be prepared to go one way, TP, then go the other way. As seen in IBtrader's post 16 200.

Just my thoughts.


Peter
Real Trading is not gambling.
  • #16,203
  • Apr 5, 2022 8:17am Apr 5, 2022 8:17am
A lot of action between midnight and 4 am, but I missed the big one, I was sleeping
then first H1 new low at 8:00, # 1 opens inside the AOI triggers a buy then SL -5 at bar# 2.
next bar is a valid bar, it triggers a buy at # 3, SL trailed and stopped at # 4(+10), no entry for the rest of the 70 pips rally.
till 11:00 a new H1 high, new AOI is drawn, then # 5 valid bar opens inside and triggers, SL trailed and stopped at +23.
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  • #16,204
  • Edited 11:43am Apr 6, 2022 7:50am | Edited 11:43am
Here's another day with EJ
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  • #16,205
  • Edited 10:06am Apr 6, 2022 9:35am | Edited 10:06am
Quoting PeterCaleb
Just quickly and briefly here, I want to comment - reading the chart is necessary. Although many think it's not important, especially with a semi-automated or fully auto approach. IF one uses a price chart as one's primary source of information and knowledge then at least learn how to read it properly. A strike point from day's beginning offer perspective. This is why I use a CT ROC line starting at open price for the day. An overactive move up or down tends to mean instant interest. Congestion areas = orders in/out and peeling off of risk. These...
Thank you PC for your input, CT ROC line? is this different from the regular ROC indicator? would appreciate some info as to how you use it.

btw, it's LBtrader
  • #16,206
  • Apr 6, 2022 9:38am Apr 6, 2022 9:38am
a nice one that I did not feel stopped prematurely
Luckily I did not enter on 1, I was not watching, I would have lost at 2 which almost made a new high. entered on 3 for a nice profit.
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  • #16,207
  • Apr 7, 2022 6:52pm Apr 7, 2022 6:52pm
Quoting lbtrader
{quote} Thank you PC for your input, CT ROC line? is this different from the regular ROC indicator? would appreciate some info as to how you use it. btw, it's LBtrader


Sorry. I thought it said LB. It's just my shorthand for counter trend rate of change. While "most" people place a lot of emphasis on trend and its direction and its slope/angle etc, which is all well and fine, I get the sense that people don't really appreciate what the markets are built on, what they are and how they move around. So ..... for me, every time a larger than average move occurs, I place a line on its left side going up or down with it. And I also like to put one through it, starting from its initial bounce point (first pullback) and running through its trajectory. Why? For every buy there is a sell point. And vice versa. So at some point the push runs out of steam and using a very simple line, helps me extrapolate ALL of that information including what buyers and sellers are probably thinking. The speed of its trajectory is important and at what point it is deciding to amble or sprint.

While many believe lines are useless, they are used to extrapolate not predict. So they have only the power that a person gives to them. I was taught to be self sufficient within my trading so while people think they have an advantage using over book and/or flow etc, it really isn't necessary if one uses a line properly and understands the landscape of the situation.

A rate of change indicator however, can be anything that calculates and tracks something at a speed of changing circumstance. All the people I learned with and grew up with, use a line. It's simple yet sophisticated IF used correctly. It can be anticipative without being presumptuous. For egs that relate to this thread and its content - see post 16 166 and 16 173 on this thread.


I hope that helps.


Peter
Real Trading is not gambling.
  • #16,208
  • Apr 8, 2022 11:02am Apr 8, 2022 11:02am
Quoting PeterCaleb
{quote} Sorry. I thought it said LB. It's just my shorthand for counter trend rate of change. While "most" people place a lot of emphasis on trend and its direction and its slope/angle etc, which is all well and fine, I get the sense that people don't really appreciate what the markets are built on, what they are and how they move around. So ..... for me, every time a larger than average move occurs, I place a line on its left side going up or down with it. And I also like to put one through it, starting from its initial bounce point (first pullback)...
Yes I knew it was counter trend, however I thought it was a derivation of the regular ROC indicator. Going back to your posts which I initially dismissed as bizarre (sorry ) when I was just starting to grasp the concept of highest high/lowest low trading strategy I can clearly understand now what you're trying to say about the rate of change and I find the vertical and horizontal lines are quite simple logical way to focus your attention on the bigger picture as the price action starts for the new day. Thanks.
  • #16,209
  • Apr 8, 2022 11:57am Apr 8, 2022 11:57am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #16,210
  • Edited Apr 9, 2022 1:04am Apr 8, 2022 2:58pm | Edited Apr 9, 2022 1:04am
21:00 candle makes a new high and the new AOI is drawn, a valid candle opens inside, however it continues in the next few candles to make a new high, and the next valid candle is at 22:00 which is an H1 higher open, the newer AOI is very small even for M1, however if we consider the upward tail which tests the AOI and retraces thru, it will trigger a sell and make some profit too.
what do you think TS?
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*I did not take that trade
  • #16,211
  • Apr 8, 2022 4:55pm Apr 8, 2022 4:55pm
Good evening every body, I'm sorry to post here this question but would appreciate some help with this issue. I discovered the smHiLO DashBoard EA_v2.3.3 in one of the posts here and when I attached it to my chart I got this picture. I saw all the posted pictures and they all looked fine with clear symbols and headings that are well spaced. Can anyone help me to fix this problem? it probably is related to my screen resolution, but I tried to change it to resolutions from old computers without success. I tried to send SwingMan a message and don't know if he will reply, so I thought to post my question here too.
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  • #16,212
  • Apr 10, 2022 1:46pm Apr 10, 2022 1:46pm
Who is taking the 10 trade challenge the week of April 10, 2022?

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!

PLEASE READ ALL OF POST #1
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #16,213
  • Apr 10, 2022 1:47pm Apr 10, 2022 1:47pm
Quoting lbtrader
Good evening every body, I'm sorry to post here this question but would appreciate some help with this issue. I discovered the smHiLO DashBoard EA_v2.3.3 in one of the posts here and when I attached it to my chart I got this picture. I saw all the posted pictures and they all looked fine with clear symbols and headings that are well spaced. Can anyone help me to fix this problem? it probably is related to my screen resolution, but I tried to change it to resolutions from old computers without success. I tried to send SwingMan a message and don't...
Look for a font size input. Don't know if there is one or not. Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #16,214
  • Apr 10, 2022 3:03pm Apr 10, 2022 3:03pm
Quoting TooSlow
{quote} Look for a font size input. Don't know if there is one or not. Cheers!
Thanks for the reply, that was my first thing to do, there isn't anything related to fonts. I guess I'll have to wait for SM to reply
  • #16,215
  • Apr 11, 2022 4:34am Apr 11, 2022 4:34am
Thank you so much TOOSLOW! your strategy is really good as standalone and when combined with other methods, it can be the game changer, i would like to confirm whether it works on other timeframes.
THANKS
  • #16,216
  • Apr 11, 2022 7:59am Apr 11, 2022 7:59am
Two strikes today on UJ : SL +5 and +15

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  • #16,217
  • Apr 11, 2022 2:45pm Apr 11, 2022 2:45pm
Quoting dele5000
Thank you so much TOOSLOW! your strategy is really good as standalone and when combined with other methods, it can be the game changer, i would like to confirm whether it works on other timeframes. THANKS
This works on other chart periods. For the month, you use can use the highest/lowest daily open as your entry. Cheers, Mate.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #16,218
  • Apr 11, 2022 4:25pm Apr 11, 2022 4:25pm
Quoting PeterCaleb
If I was learning this strategy from start, I would have a H1 chart with daily rollover marked. Day to day separator. From first open price of daily rollover, draw a very steep trend line up and one down. Almost vertical. The only other thing the market can do from there is go sideways til it gets bid down or it gets pushed up. Then mark the 3 days previous biggest highs and lows. NOW, bring in your template for HOLO and now just look. Successful trading is about opportunity seen before during after. Now look at your chart and list ALL the things...
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #16,219
  • Apr 11, 2022 4:49pm Apr 11, 2022 4:49pm
Massive gold move today
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  • #16,220
  • Edited 5:50am Apr 12, 2022 12:41am | Edited 5:50am
Two shorts one long total +25. The 5 pip rule although sometimes prevent the capture of the big runners, they do protect from early reversals.
First trade would have been stopped out at BE+1 instead of +5 if I let it run, the next two candles reversed and made a new high.
luckily there was a quick follow up immediately after for a better profit.
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