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Highest Open / Lowest Open Trade

  • #16,521
  • Jun 9, 2022 7:20am Jun 9, 2022 7:20am
Week of June 5th
10 Trade Challenge GBPUSD.. Trade 12
SL -7
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  • #16,522
  • Jun 9, 2022 7:20am Jun 9, 2022 7:20am
Quoting TooSlow
{quote} {image} Added daily, weekly, and monthly open lines.
Hi TooSlow, on question, why are the weekly and monthly? the strategy works in different timeframes?

Btw the strategy is working right now in gbpusd.

Thank you in advance.
rip and tear until it's done
  • #16,523
  • Jun 9, 2022 8:28am Jun 9, 2022 8:28am
Week of June 5th
10 Trade Challenge GBPUSD.. Trade 13
BE +10
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  • #16,524
  • Jun 9, 2022 8:57am Jun 9, 2022 8:57am
Quoting nonibadsha
Week of June 5th 10 Trade Challenge GBPUSD.. Trade 11 BE +15 {image}
I think you broke rule number 3.
  • #16,525
  • Jun 9, 2022 8:59am Jun 9, 2022 8:59am
Quoting nonibadsha
Week of June 5th 10 Trade Challenge GBPUSD.. Trade 13 BE +10 {image}
Also here !!! You broke rule number 3.
  • #16,526
  • Jun 9, 2022 9:00am Jun 9, 2022 9:00am
Quoting nonibadsha
Week of June 5th 10 Trade Challenge GBPUSD.. Trade 12 SL -7 {image}
Great! You followed the rule number 3
  • #16,527
  • Jun 9, 2022 9:04am Jun 9, 2022 9:04am
Quoting TheZenienss
{quote} I think you broke rule number 3.
I entered on an M5 candle going up.
  • #16,528
  • Jun 9, 2022 9:06am Jun 9, 2022 9:06am
Quoting TheZenienss
{quote} Also here !!! You broke rule number 3.
It depends on what chart you look at.
If you read through the thread you will see that TS has addressed this a few times.
  • #16,529
  • Jun 9, 2022 9:24am Jun 9, 2022 9:24am
Quoting nonibadsha
{quote} I entered on an M5 candle going up.
Rule number 3 : "M5 Bar must open between H1 open and extreme"

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We don't see any candle opened inside that area, right ?
  • #16,530
  • Jun 9, 2022 9:32am Jun 9, 2022 9:32am
Quoting nonibadsha
{quote} It depends on what chart you look at. If you read through the thread you will see that TS has addressed this a few times.
I'm looking at the chart you posted (M15), which rules are not satisfied!

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If you entered on the M5, please post the M5 chart
  • #16,531
  • Jun 9, 2022 9:45am Jun 9, 2022 9:45am
Quoting TheZenienss
{quote} Rule number 3 : "M5 Bar must open between H1 open and extreme" {image} We don't see any candle opened inside that area, right ?
You are right.. But there was an M1 candle that opened in the AOI.
  • #16,532
  • Jun 9, 2022 9:49am Jun 9, 2022 9:49am
Quoting TheZenienss
{quote} I'm looking at the chart you posted (M15), which rules are not satisfied! {image} If you entered on the M5, please post the M5 chart
Here you go

The red horizontal line shows the highest H1 open at the time of trade.
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  • #16,533
  • Edited 2:11pm Jun 9, 2022 10:13am | Edited 2:11pm
Quoting nonibadsha
{quote} You are right.. But there was an M1 candle that opened in the AOI.
Correct, if you see a wick dipping into the AOI on a higher TF it means a candle opened there on the lower TF except for M1.
  • #16,534
  • Jun 9, 2022 9:02pm Jun 9, 2022 9:02pm
Quoting sisucoro
{quote} Hi TooSlow, on question, why are the weekly and monthly? the strategy works in different timeframes? Btw the strategy is working right now in gbpusd. Thank you in advance.
When price is near the daily, weekly or monthly opens, there is usually a move that follows.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #16,535
  • Jun 9, 2022 9:20pm Jun 9, 2022 9:20pm
Quoting TheZenienss
{quote} Rule number 3 : "M5 Bar must open between H1 open and extreme" {image} We don't see any candle opened inside that area, right ?
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #16,536
  • Jun 9, 2022 9:21pm Jun 9, 2022 9:21pm
Quoting TheZenienss
{quote} I'm looking at the chart you posted (M15), which rules are not satisfied! {image} If you entered on the M5, please post the M5 chart
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #16,537
  • Jun 9, 2022 9:26pm Jun 9, 2022 9:26pm
Quoting TheZenienss
{quote} Also here !!! You broke rule number 3.
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #16,538
  • Jun 9, 2022 9:41pm Jun 9, 2022 9:41pm
Quoting nonibadsha
{quote} Any further tips to improve. I'm posting all my trades and performance.. I'm guessing you do check them. What do you see? Am I on the right track? Am I right or wrong? Do I just need more practice? I would be most grateful and appreciate any and all the guidance you can give me. Cheers.


Seeing as Too Slow quoted from a prior post of mine and grabbed my attention I can offer this input.....

Setup a 5min chart. Have the day to day period separator on chart (I assume people are using mt4/5). Now sit and observe it as it moves around with a clear head and no expectation or judgment of what may or will happen.. Use your line drawer/trendline drawer tool and place a line on the left hand side of every move that you see that either reverses or breaks from going 'sideways' and starts moving strong up or down. The one issue I have with Too Slow's view and charts, is they do not define activity as process. They define movement as data points as do many others. Your eye needs to be taught to see two elements - body of market movement average and temporary actions. For candlestick or bar users, open or close to high or low (whichever is closer at that time after the interval has completed and been locked in AKA once the tape's been printed) vs open to close based on time as a process of movement and transaction. This is why in part, it takes people so long to learn how to read a transaction chart. Being too specific downgrades the view and your understanding.

What I just said will apply to any and every strategy but only if you observe the layers of what is happening. Adaptation and longevity will produce consistency in real life. Something that many people still have not learned, particularly order book and order flow traders but it really applies to anyone who trades these days due to technology etc.

Once you have done this kind of exercise enough, it becomes a very swift process of evaluation when looking at any strategy, regardless of how it looks or its level of complexity. The basics matter.

I know I butted in here. Sorry. All of that is worth mentioning though.

I hope that helps.

Peter
Real Trading is not gambling.
  • #16,539
  • Jun 10, 2022 3:06am Jun 10, 2022 3:06am
EUR/USD

+5
I am very curious because recently it happens to me a lot, once price is getting back to my entry point spread is increased and it took my BE position then moved back to original direction

I have to check another broker looks like that mine are trying to rob me

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  • #16,540
  • Jun 10, 2022 3:32am Jun 10, 2022 3:32am
Quoting LooseMyMoney
EUR/USD +5 I am very curious because recently it happens to me a lot, once price is getting back to my entry point spread is increased and it took my BE position then moved back to original direction I have to check another broker looks like that mine are trying to rob me {image}
Yep, my broker did it again. I measured tick value between SL and PRICE. It was 1,9 pips. My standard spread is around 0,5-0,9 pips

Very dissapointed..

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