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Highest Open / Lowest Open Trade

  • #17,041
  • Oct 19, 2022 2:41am Oct 19, 2022 2:41am
I'm taking on the challenge
Time: October 16 - October 22, 2022
Pair: GBPUSD
Risk: 0.01 lot/trade
-
Trade: 10 / 10 orders
BE = +1 pips
-
Total pips = +18 -22 +0 +5 +20 +5 +1 +1 +5 +1 = +34 pips
-
Attached Image (click to enlarge)
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  • #17,042
  • Oct 19, 2022 2:43am Oct 19, 2022 2:43am
I'm taking on the challenge
Time: October 16 - October 22, 2022
Pair: GBPUSD
Risk: 0.01 lot/trade
-
Trade: 11 / 10 orders
Won = +15 pips
-
Total pips = +49 pips
+18 -22 +0 +5 +20 +5 +1 +1 +5 +1
+15
-
Attached Image (click to enlarge)
Click to Enlarge Name: z3811961662726_40b88f1da2006fc4754a925e653b3443.jpg Size: 150 KB
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  • #17,043
  • Oct 19, 2022 2:58am Oct 19, 2022 2:58am
Quoting andy1946
I'm taking on the challenge Time: October 16 - October 22, 2022 Pair: GBPUSD Risk: 0.01 lot/trade - Trade: 11 / 10 orders Won = +15 pips - Total pips = +49 pips +18 -22 +0 +5 +20 +5 +1 +1 +5 +1 +15 - {image}
Well done! keep on sharing!
Dont be upset with the result you didnt get from the work you didnt do
  • #17,044
  • Oct 19, 2022 3:35am Oct 19, 2022 3:35am
Quoting andy1946
I'm taking on the challenge Time: October 16 - October 22, 2022 Pair: GBPUSD Risk: 0.01 lot/trade - Trade: 11 / 10 orders Won = +15 pips - Total pips = +49 pips +18 -22 +0 +5 +20 +5 +1 +1 +5 +1 +15 - {image}
Congrats mate,
  • #17,045
  • Oct 19, 2022 3:43am Oct 19, 2022 3:43am
Hi all,

Is this consider to be valid buy entry when price break the previous set low and then move up current low open price or we need to wait next our to price come back in same zone again ? Thanks
Attached Image (click to enlarge)
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  • #17,046
  • Edited 6:04am Oct 19, 2022 5:49am | Edited 6:04am
Quoting rogeryrogery
Hi all, Is this consider to be valid buy entry when price break the previous set low and then move up current low open price or we need to wait next our to price come back in same zone again ? Thanks {image}
Hi roger, yes this is a valid entry however....
Quoting TooSlow
WARNING

When price breaks through yesterday's high or low or makes a new high or low today, that is a breakout!
Trade the reversal with caution.
and your SL now is 25.8 instead of the previous 12 pips.
  • #17,047
  • Oct 19, 2022 7:13am Oct 19, 2022 7:13am
Hi,

Thanks for reply - When you say trade with caution, see chart below for 2 trades - if its valid or not. Price does brown down before moving again back in zone and making daily high - so basically price tagged you in from SELL STOP. Hope I make sense.

Thanks
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  • #17,048
  • Edited 8:25am Oct 19, 2022 8:08am | Edited 8:25am
Quoting rogeryrogery
Hi, Thanks for reply - When you say trade with caution, see chart below for 2 trades - if its valid or not. Price does brown down before moving again back in zone and making daily high - so basically price tagged you in from SELL STOP. Hope I make sense. Thanks {image} {image}
Price does brown down? I don't understand.
in both charts you had valid entries, 4 for NJ and 3 for AJ but for some reason you chose the entries with the weakest momentum on the first entry and the one that hit your SL on the last entry. The ones that could have been winners you chose to ignore. I'm not saying this method does not have losers but still, you should have more winners than losers.
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  • #17,049
  • Oct 19, 2022 8:30am Oct 19, 2022 8:30am
Tenth trade
Attached Image (click to enlarge)
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1.02^200
  • #17,050
  • Oct 19, 2022 8:33am Oct 19, 2022 8:33am
Hi,

Sorry I am just trying to understand it better - When you said I am ignoring other entries - I don't It's just time of day when you can trade. I saw entry after US open as TooSlow only trade US.

I took all these trades - Mostly US open & after - follow BE+1 and 10 pis SL to 5Pips rule. I got higher WR here but when I loss position it's full position and that hurts. I am up 7$ Risk / 8$ per trade in all down trade so we can see 1:1 ratio but If some how I can avoid big loss or even change time of trade or any other thing I guess it would improve alot.
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  • #17,051
  • Oct 19, 2022 8:43am Oct 19, 2022 8:43am
Quoting d5400
Tenth trade {image}
Hi d5400, can't argue with a win, but why did you chose your entry at that particular candle and below the H1 line?
  • #17,052
  • Oct 19, 2022 8:51am Oct 19, 2022 8:51am
Quoting rogeryrogery
Hi, Sorry I am just trying to understand it better - When you said I am ignoring other entries - I don't It's just time of day when you can trade. I saw entry after US open as TooSlow only trade US. I took all these trades - Mostly US open & after - follow BE+1 and 10 pis SL to 5Pips rule. I got higher WR here but when I loss position it's full position and that hurts. I am up 7$ Risk / 8$ per trade in all down trade so we can see 1:1 ratio but If some how I can avoid big loss or even change time of trade or any other thing I guess it would improve...
If we ignore the -19 which was a mistake, then you have a pretty good series. Losses are unavoidable, you just learn to embrace them, now sometimes you see that your trade is going in the wrong direction from the start, so in that case you don't have to wait for your full SL to be hit, cut it short and wait for another entry, very often it is a few candles down the road.
  • #17,053
  • Oct 19, 2022 9:05am Oct 19, 2022 9:05am
Quoting lbtrader
{quote} Hi d5400, can't argue with a win, but why did you chose your entry at that particular candle and below the H1 line?
It was the first break of LO on the hour. I enter below to account for commission. Spread is 0 but commission is 0.7 pip. As you know we should buy at ask on the line.
1.02^200
  • #17,054
  • Oct 19, 2022 9:18am Oct 19, 2022 9:18am
Quoting d5400
{quote} It was the first break of LO on the hour. I enter below to account for commission. Spread is 0 but commission is 0.7 pip. As you know we should buy at ask on the line.
yes, the first break however tends to be a fake, the second break was better with no draw down at all.
Attached Image (click to enlarge)
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  • #17,055
  • Oct 19, 2022 9:29am Oct 19, 2022 9:29am
Quoting lbtrader
{quote} yes, the first break however tends to be a fake, the second break was better with no draw down at all.{image}
No, that was another first break, next hour.
1.02^200
  • #17,056
  • Oct 19, 2022 9:34am Oct 19, 2022 9:34am
Quoting d5400
{quote} No, that was another first break, next hour.
both breaks were fake, I should have labeled the true break as the third break, I labeled it second in reference to your entry on the second break but all were in the same hour
  • #17,057
  • Oct 19, 2022 9:43am Oct 19, 2022 9:43am
Quoting lbtrader
{quote} both breaks were fake, I should have labeled the true break as the third break, I labeled it second in reference to your entry on the second break but all were in the same hour
The went enough to make money, according to the rules.
1.02^200
  • #17,058
  • Oct 19, 2022 9:59am Oct 19, 2022 9:59am
Thank you TooSlow, this is an amazing eye opener of a thread. I'll be moving on to making this my own. Here's XU trade
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1.02^200
  • #17,059
  • Oct 19, 2022 10:28am Oct 19, 2022 10:28am
Thanks for explaination guys,

Here is chart shared above for XU trade. Does the entries I lighted as valid entries and I think maybe BE+1 and also is it ok to re-enter if it's BE+1, price come back in zone as this happened again in same chart and then went to profit.
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  • #17,060
  • Oct 19, 2022 10:39am Oct 19, 2022 10:39am
Quoting d5400
{quote} The went enough to make money, according to the rules.
Absolutely, as I mentioned at the beginning, one cannot argue with a win
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