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Highest Open / Lowest Open Trade

  • #17,801
  • Mar 27, 2024 12:56pm Mar 27, 2024 12:56pm
Thank you, everyone, for your kind answers. From what I understand, my broker's spread typically starts at 0.8. However, currently, it seems they aren't exceeding 1.2 to 1.5. I am aware that they could widen their spreads, especially during news events. Also, a special thank you to Slightyodd for the detailed trade explanations.
  • #17,802
  • Mar 27, 2024 1:17pm Mar 27, 2024 1:17pm
Does BTC look valid?
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  • #17,803
  • Edited 10:14am Mar 28, 2024 9:15am | Edited 10:14am
Waiting...
edit... guess what.. still waiting snooze fest
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  • #17,804
  • Mar 31, 2024 12:58am Mar 31, 2024 12:58am
Who is taking the 10 trade challenge the week of March 31, 2024?

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
  • #17,805
  • Mar 31, 2024 3:27am Mar 31, 2024 3:27am
I like the approach of the system. Unfortunately you only can trade it with few currencies and it needs to be a very high professional market (like Eur/USD or indicies like nasdaq, dow etc.). Also, the spread must be very low, maximum 1.8 pips spread after all costs.

I could challenge for next week with single currency like chf/jpy or aud/chf (both below 2 pips spread) to prove the system run +/-0 or even a small loss after one week. As usual, systems with one single entry point are always dependend on old "behaviours" of market participants so in general you cannot use these kind of systems in every market which means you are "curve fitting" them already by selecting the "right" markets.

I find the system very difficult, not the approach itself but to use it in a correct way in the right markets with the right spreads. Regarding entry points, thanks to TooSlow, MichaelG and others most questions are answered, especially the entry points, which can get invalid, if there is a new high in a certain period of time.

I say it again: The biggest problem is the spread. Don't trade this system if you have spreads above 1.8, else your profits vanish to the broker. Happy easter to all.
  • #17,806
  • Mar 31, 2024 11:26pm Mar 31, 2024 11:26pm
Quoting JackintheBox
I like the approach of the system. Unfortunately you only can trade it with few currencies and it needs to be a very high professional market (like Eur/USD or indicies like nasdaq, dow etc.). Also, the spread must be very low, maximum 1.8 pips spread after all costs. I could challenge for next week with single currency like chf/jpy or aud/chf (both below 2 pips spread) to prove the system run +/-0 or even a small loss after one week. As usual, systems with one single entry point are always dependend on old "behaviours" of market participants so...
How many trades have you made with this method?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #17,807
  • Apr 1, 2024 2:24am Apr 1, 2024 2:24am
Quoting TooSlow
{quote} How many trades have you made with this method?
0 (in real time) I like to understand the logic behind the trigger signal so I analyze it first. Apologies for 0 trades. I change that. Happy easter monday.
  • #17,808
  • Apr 1, 2024 7:38am Apr 1, 2024 7:38am
Quoting JackintheBox
{quote} 0 (in real time) I like to understand the logic behind the trigger signal so I analyze it first. Apologies for 0 trades. I change that. Happy easter monday.
With all due respect, you should not be posting to this thread advising others about this method without you having done the 10-trade challenge following the rules on one instrument in the live market.

You're the one finding this method difficult. Many others, myself included, have found it to be consistently and highly profitable.
Life itself is a privilege, but to live life to the fullest is a choice
  • #17,809
  • Apr 1, 2024 6:38pm Apr 1, 2024 6:38pm
Quoting vidvad
{quote} With all due respect, you should not be posting to this thread advising others about this method without you having done the 10-trade challenge following the rules on one instrument in the live market. You're the one finding this method difficult. Many others, myself included, have found it to be consistently and highly profitable.
Based
He bought? Dump it!
  • #17,810
  • Apr 2, 2024 4:18pm Apr 2, 2024 4:18pm
Quoting vidvad
{quote} With all due respect, you should not be posting to this thread advising others about this method without you having done the 10-trade challenge following the rules on one instrument in the live market. You're the one finding this method difficult. Many others, myself included, have found it to be consistently and highly profitable.
I really wonder how you handle the spreads vidvad. I analyzed the problem on the 8 major currencies (which already have a spread below 2 pips and have the mostly the best R:R ratios by following the rules on page # 1).

I give you an example: Let's say you have two losses of -4 pips, 3 times +1 and one time +12.
Plus side: +3x1Pip+12pip = 15 pips
Negativ side: -2x4pips = -8 pips.
So R:R is theoretical (15/8=) 1.875 sounds great, doesn't?

Now comes the problem: The spread, let's say it is on avg 1.5 pips: If you enter on the sell side on the bid price, like mentioned from MichaelG and on the ask price on the buy side, in the example above, we had 6 trades.

Let's see how the stats look like with spread costs:

Plus side: 15 pips
Negative side: -8 pips
Spread costs: 6x-1.5pips= -9 pips

Overall we have than 15 pips plus and -17 pips, so we made a loss. Did I missed something here or mixed sth. up? I don't think so.

If you use it on nasdaq like

  1. Slightlyodd

the ratio is much better due to same spreads but much higher volatility. That's why I told before that if I would challenge the method on AUD/CHF (1.5 pips Spread) for one week with 10 trades it will be sure ending in a loss (I mean I can see it literally on the backtest for the last 3 years) due to low volatility no matter if I use trail, BE +1 on 5 pips etc. etc.

So I ask you all again: How do you handle the spread costs? Or do you all have ECN-Brokers with around 0.6 pips on EUR/USD or 0.9 pips on GBP/USD including commissions? cheers

  • #17,811
  • Apr 2, 2024 4:57pm Apr 2, 2024 4:57pm
Quoting JackintheBox
{quote} I really wonder how you handle the spreads vidvad. I analyzed the problem on the 8 major currencies (which already have a spread below 2 pips and have the mostly the best R:R ratios by following the rules on page # 1). I give you an example: Let's say you have two losses of -4 pips, 3 times +1 and one time +12. Plus side: +3x1Pip+12pip = 15 pips Negativ side: -2x4pips = -8 pips. So R:R is theoretical (15/8=) 1.875 sounds great, doesn't? Now comes the problem: The spread, let's say it is on avg 1.5 pips: If you enter on the sell side on the...
Double check your math and think it through.
  • #17,812
  • Apr 2, 2024 10:31pm Apr 2, 2024 10:31pm
dont be afraid to utilise the theory of ho/lo on other timeframes once you grasp "TooSlow' method
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IMO cheers SP
  • #17,813
  • Apr 9, 2024 6:55pm Apr 9, 2024 6:55pm
pairs traded: all majors + eurgbp and eurjpy (only if spread is 2pip or below)
yesterday's trades wound up to being ~+16-17 pips.
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  • #17,814
  • Apr 13, 2024 7:00pm Apr 13, 2024 7:00pm
Who is taking the 10 trade challenge the week of April 14, 2024?

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
  • #17,815
  • Apr 15, 2024 10:27pm Apr 15, 2024 10:27pm
Quoting TooSlow
{image} Added range, ATR(100) and percentage of range/ATR(100) to indicator message. The closer range gets to ATR, the more likely a reversal may happen. This may help those who struggle with this method. Wait for 50% or better to look for a reversal. Maybe that will help. Green pips to all. Cheers! {file}
anyone planning on converting this latest indicator uploaded by TooSlow to MT5 version the exact same as this one?
  • #17,816
  • Edited 9:36am Apr 17, 2024 9:13am | Edited 9:36am
hahahahahaha money money money money money shorts at market open

good luck all
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  • #17,817
  • Apr 20, 2024 11:37am Apr 20, 2024 11:37am
Quoting Slightlyodd
hahahahahaha money money money money money shorts at market open good luck all {image} {image}

what rules set are u following...the exaxct strategy described in this thread by tooslow?
  • #17,818
  • Apr 20, 2024 3:40pm Apr 20, 2024 3:40pm
Who is taking the 10 trade challenge the week of April 21, 2024?

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
  • #17,819
  • Apr 22, 2024 10:56am Apr 22, 2024 10:56am
Took this EURNZD & USDCHF. Both WIN.
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  • #17,820
  • Apr 28, 2024 1:27am Apr 28, 2024 1:27am
Who is taking the 10 trade challenge the week of April 28, 2024?

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
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