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Highest Open / Lowest Open Trade

  • #17,301
  • Mar 28, 2023 8:02am Mar 28, 2023 8:02am
Quoting Booghie
{quote} Hi TooSlow, although after studying the logic of TRO's systems (I think he is the invention of "holo"), I deduced that the higher the range, the higher the probability that the price will return. And about the time, it is quite obvious that the best entries are in the "range" periods of the price, I did not manage to deduce the significance of the data from image 2 and 3. Please explain to me what the first line in the two pictures represents, I looked for minutes on end but I don't understand what it means. {image} {image}
First chart is the frequency distribution of the daily range ( Diff = High minus Low). There were 100 bars (days) tested and 68 of those bars had a range of 200 or more pips.

Second chart is the frequency distribution of the occurence of the daily high and daily low. 0 is the 00:00 bar or first hour of the day. The daily high occurred 3 times and the daily low occurred 2 times during the 00:00 bar in the last 240 days.

Cheers.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #17,302
  • Mar 28, 2023 8:57am Mar 28, 2023 8:57am
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 31 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #17,303
  • Mar 28, 2023 9:17am Mar 28, 2023 9:17am
Quoting Booghie
{quote} Hi TooSlow, although after studying the logic of TRO's systems (I think he is the invention of "holo"), I deduced that the higher the range, the higher the probability that the price will return....
Close, but not quite, Mate. After a certain point, I would agree. Think in terms of "when" and "to what extent".

Here is the "to what extent":

Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW3.png Size: 23 KB


Cheers.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #17,304
  • Mar 28, 2023 12:50pm Mar 28, 2023 12:50pm
Hello TooSlow,

I have a quick question for you.

Let's have a scenario were we have a candle that marks a new HO do we wait for the current candle to close then mark the AOI or do I immediately sell after it passes the HO line?
  • #17,305
  • Mar 28, 2023 1:48pm Mar 28, 2023 1:48pm
Quoting Outcast918
Hello TooSlow, I have a quick question for you. Let's have a scenario were we have a candle that marks a new HO do we wait for the current candle to close then mark the AOI or do I immediately sell after it passes the HO line?
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 32 KB



The answer is in the rules on my chart.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #17,306
  • Edited 6:15am Mar 29, 2023 5:09am | Edited 6:15am
Hello everyone, nice to meet you.
I'm reading your posts with the help of translation from TooSlow and MichaelG, and I'm really grateful for that.
I'm a beginner and a Japanese. I cannot speak English, but I'm using AI for translation.
I apologize in advance if my messages don't make sense or if I don't understand your words.
Now, I have read MichaelG's explanation and looked at the chart. It seems like there was an opportunity. Was this a good time to enter the trade? This is AUD/USD.
Attached Image (click to enlarge)
Click to Enlarge Name: HOLO.png Size: 29 KB
  • #17,307
  • Mar 29, 2023 5:59pm Mar 29, 2023 5:59pm
Quoting naonao
Hello everyone, nice to meet you. I'm reading your posts with the help of translation from TooSlow and MichaelG, and I'm really grateful for that. I'm a beginner and a Japanese. I cannot speak English, but I'm using AI for translation. I apologize in advance if my messages don't make sense or if I don't understand your words. Now, I have read MichaelG's explanation and looked at the chart. It seems like there was an opportunity. Was this a good time to enter the trade? This is AUD/USD. {image}
Hi naonao.
Yes. That is right. Well done
  • #17,308
  • Mar 31, 2023 8:33am Mar 31, 2023 8:33am
Quoting MichaelG
{quote} Hi naonao. Yes. That is right. Well done
Hello, MichaelG.
Thank you for your response! I am happy to hear from you. I will continue to study while looking at the charts. By the way, do you have any other filters or triggers in place?
For example...

  1. Not holding positions before and after the release of economic indicators.
  2. Not holding positions across multiple market times, etc.

If you have the time, I would be grateful if you could teach me. Thank you very much.
Best regards.

  • #17,309
  • Mar 31, 2023 8:42pm Mar 31, 2023 8:42pm
Who is taking the 10 trade challenge the week of APRIL 2, 2023?


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
  • #17,310
  • Apr 2, 2023 6:27am Apr 2, 2023 6:27am
Quoting MichaelG
{quote} Hi naonao. Yes. That is right. Well done
Dear MichaelG and TooSlow,
I have 2-3 questions, I try to focus only EURUSD pair only, Can you suggest me below
1) I'm Thai, my GMT is GMT+7. I try to focus on London session. Starting of London is 13:00-19:00 and New york session start 19:00-03:00 hr. Can you suggest me what time I should focus to trade this strategy?
2) How can I backtest this method for rechecking strategy result? such as use HiLow indicator in Tradingview, or backtest in Thinkmarket Gym, or any
3) Many time I try to use and
3.1) wait Highest day and it down
3.2) it go to between H1 lasted open and highest day agian
3.3) it come back down under H1 lasted open and I open Sell order
3.4) it go to new highest day....
Did I forget something?

4) last question, when you trade this strategy, how about your money management between
4.1) fix % risk, such as 0.5% or 1% per every trade.
4.2) fix lot size, not control %risk
  • #17,311
  • Apr 3, 2023 4:43am Apr 3, 2023 4:43am
how do i download this indicator?
Quoting TooSlow
{image}
  • #17,312
  • Apr 4, 2023 9:48am Apr 4, 2023 9:48am
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 32 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #17,313
  • Apr 4, 2023 9:48am Apr 4, 2023 9:48am
Quoting bigdigitsits
how do i download this indicator? {quote}
Click on the paperclip icon to see the downloads.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #17,314
  • Apr 4, 2023 9:52am Apr 4, 2023 9:52am
golfberserk;

14382326]{quote} Dear MichaelG and TooSlow, I have 2-3 questions, I try to focus only EURUSD pair only,
1) I'm Thai, my GMT is GMT+7. I try to focus on London session. Starting of London is 13:00-19:00 and New york session start 19:00-03:00 hr. Can you suggest me what time I should focus to trade this strategy?

Focus during the London (EUR) and NY (USD) sessions.

2) How can I backtest this method for rechecking strategy result? such as use HiLow indicator in Tradingview, or backtest in Thinkmarket Gym, or any

No need to backtest, Mate. Learn how to trade it by trading it.

3) Many time I try to use and
3.1) wait Highest day and it down
3.2) it go to between H1 lasted open and highest day agian
3.3) it come back down under H1 lasted open and I open Sell order
3.4) it go to new highest day.... Did I forget something?

Need to see a chart, Mate.

4) last question, when you trade this strategy, how about your money management between
4.1) fix % risk, such as 0.5% or 1% per every trade.
4.2) fix lot size, not control %risk

Mate, I don't know what your account size is and how much risk and stress you can handle. Start light and work your way up.

Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #17,315
  • Apr 4, 2023 3:51pm Apr 4, 2023 3:51pm
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 32 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #17,316
  • Apr 5, 2023 7:57am Apr 5, 2023 7:57am
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 34 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #17,317
  • Apr 8, 2023 10:17am Apr 8, 2023 10:17am
Who is taking the 10 trade challenge the week of APRIL 9, 2023?


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
  • #17,318
  • Apr 10, 2023 1:51pm Apr 10, 2023 1:51pm
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 31 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #17,319
  • Apr 10, 2023 7:16pm Apr 10, 2023 7:16pm
Quoting TooSlow
{image}
Hello, TooSlow.
Is the indicator that displays the Higher Open from -5 to -25 drawn automatically?
  • #17,320
  • Apr 11, 2023 12:04am Apr 11, 2023 12:04am
Quoting naonao
{quote} Hello, TooSlow. Is the indicator that displays the Higher Open from -5 to -25 drawn automatically?
Yes. The version I modified does that.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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