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Highest Open / Lowest Open Trade

  • #18,421
  • Edited 9:43pm Dec 10, 2024 9:26pm | Edited 9:43pm
Quoting TooSlow
{quote} Thanks, Mate. But I think you give me too much credit. I am no mentor, only a fellow trader hunting for pips. Tony Robbins. I like his, "ask a better question to get a better answer" quote. Cheers!
TooSlow, I like your humility.
Anyone following your teaching, you are mentoring him.
  • #18,422
  • Dec 10, 2024 10:11pm Dec 10, 2024 10:11pm
Quoting TooSlow
{image} To trade or not to trade... Daily range 14% of ATR.
For me, no trade because price did not open inside the Area Of Interest (AOI) in M5.

Rather I traded EURJPY
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  • #18,423
  • Dec 11, 2024 12:37am Dec 11, 2024 12:37am
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Waiting...
  • #18,424
  • Dec 11, 2024 2:13am Dec 11, 2024 2:13am
9: +5 [price in the zone of interest, closing M1 price above the zone of interest AND NOT above the high of the day. Plus, H4 closed, which adds to the probability of a short-term pullback]
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  • #18,425
  • Dec 11, 2024 2:28am Dec 11, 2024 2:28am
Quoting Malkolm
9: +5[price in the zone of interest, closing M1 price above the zone of interest AND NOT above the high of the day. Plus, H4 closed, which adds to the probability of a short-term pullback],...

10: +5 [Same market structure. Did not enter at M5, waited for M15 to close above H4, went up NOT above the high of the day + went down to the opening price of H4]

Total for 10 trades: 38 points
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  • #18,426
  • Dec 11, 2024 5:10am Dec 11, 2024 5:10am
Quoting Malkolm
{quote} 10: +5 [Same market structure. Did not enter at M5, waited for M15 to close above H4, went up NOT above the high of the day + went down to the opening price of H4] Total for 10 trades: 38 points {image}
Well done. Now, do it again, Mate.

Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,427
  • Dec 11, 2024 5:11am Dec 11, 2024 5:11am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,428
  • Dec 11, 2024 5:43am Dec 11, 2024 5:43am
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Look at the chart what do you see? Pay attention to the areas of interest.

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,429
  • Dec 11, 2024 5:45am Dec 11, 2024 5:45am
So many times news release work in line with HOLO direction.
See today's CPI
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  • #18,430
  • Dec 11, 2024 6:23am Dec 11, 2024 6:23am
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Price makes a new low and heads back towards the daily open.
Price makes a new high and heads back towards the daily open.
This happens every trading day.

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,431
  • Dec 12, 2024 5:34am Dec 12, 2024 5:34am
I observed that whenever my trade positions goes against my direction using HOLO, I am the one that did not follow the rules.
I always learn from it.
Failure is the best teacher if you learn from it.
  • #18,432
  • Dec 12, 2024 8:06am Dec 12, 2024 8:06am
15 minute tf it went both ways today (:
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  • #18,433
  • Dec 12, 2024 4:57pm Dec 12, 2024 4:57pm
Quoting Igumapips
I observed that whenever my trade positions goes against my direction using HOLO, I am the one that did not follow the rules. I always learn from it. Failure is the best teacher if you learn from it.
One can learn from other's mistakes. It's a lot cheaper!

Cheers.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,434
  • Dec 12, 2024 7:04pm Dec 12, 2024 7:04pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,435
  • Dec 12, 2024 7:18pm Dec 12, 2024 7:18pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,436
  • Dec 12, 2024 7:40pm Dec 12, 2024 7:40pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,437
  • Dec 13, 2024 12:24am Dec 13, 2024 12:24am
Waiting...
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  • #18,438
  • Dec 13, 2024 12:33am Dec 13, 2024 12:33am
Quoting TooSlow
{image}
Hi TooSlow!


Good example of a trade where I would have gotten a loss of -14 pips.

Is there anything to get out of the trade earlier to reduce the stop loss?
  • #18,439
  • Dec 13, 2024 1:40am Dec 13, 2024 1:40am
Quoting Malkolm
{quote} Hi TooSlow! Good example of a trade where I would have gotten a loss of -14 pips. Is there anything to get out of the trade earlier to reduce the stop loss?
Sorry for answering earlier TS, but I think you should check your MM before you enter such a big stop
  • #18,440
  • Dec 13, 2024 3:06am Dec 13, 2024 3:06am
Quoting tantra
{quote} Sorry for answering earlier TS, but I think you should check your MM before you enter such a big stop
thanks for your help!
If I understand you correctly, then of course my trade will have the same number of dollars per trade - that at 5 pips I risk 10 dollars (conditionally), that at 14 pips the risk is also 10 dollars (conditionally)
but I don't know how I can improve my MM and RR ratio?
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