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Highest Open / Lowest Open Trade

  • #18,461
  • Dec 13, 2024 12:58pm Dec 13, 2024 12:58pm
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Sometimes, breaking the rules pays off. Manage the risk.
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,462
  • Dec 13, 2024 1:01pm Dec 13, 2024 1:01pm
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Can you be happy with 3 or 4 pips of profit?

Would you be happy with 3 or 4 pips of profit after being down 5 or 10 pips?

What is it you are trying to accomplish?


Socratic method is named after the classical Greek philosopher Socrates. It is a form of inquiry and discussion between individuals, based on asking and answering questions to stimulate critical thinking and to illuminate ideas.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,463
  • Dec 13, 2024 3:04pm Dec 13, 2024 3:04pm
Who is taking the 10 trade challenge the week of DECEMBER 15, 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
  • #18,464
  • Dec 13, 2024 8:48pm Dec 13, 2024 8:48pm
Dear TooSlow,

Please, I have an observation: It is about Indicator generated AOI and manual generated AO.
I want to to look at it so that you can advise me. I am little bit confused.
I stated everything in the image.
I want to understand HOLO, that is why I keep on asking questions.
Thanks for all your support.
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  • #18,465
  • Dec 13, 2024 11:45pm Dec 13, 2024 11:45pm
Quoting Igumapips
Dear TooSlow, Please, I have an observation: It is about Indicator generated AOI and manual generated AO. I want to to look at it so that you can advise me. I am little bit confused. I stated everything in the image. I want to understand HOLO, that is why I keep on asking questions. Thanks for all your support. {image} {image} {image}
The indicator is functioning correctly.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,466
  • Dec 14, 2024 5:38am Dec 14, 2024 5:38am
Quoting TooSlow
{quote} The indicator is functioning correctly.
That means I am wrong.
I never said that the Indicator is not working correctly.
  • #18,467
  • Dec 14, 2024 7:09pm Dec 14, 2024 7:09pm
Quoting Igumapips
Dear TooSlow, Please, I have an observation: It is about Indicator generated AOI and manual generated AO. I want to to look at it so that you can advise me. I am little bit confused. I stated everything in the image. I want to understand HOLO, that is why I keep on asking questions. Thanks for all your support. {image} {image} {image}
Hi Igumapips.
The name of the thread is HIGHEST open/LOWEST open. That is for the WHOLE day.
Please refer to the chart at A.
That is the Highest H1 OPEN for the entire day. And also the Highest HIGH for the entire day. So that will NOT change UNLESS a new HIGH/HIGHEST H1 open is made on that day. As you know, that did NOT happen.
Refer to B.
That area is NOT the HIGHEST H1 open or HIGH of the entire day, so it is NOT valid for a trade using this method.
Refer to C.
At that time of the day, it was the LOWEST H1 open and LOW for the day at that stage which is why you would have seen it as a valid AOI.
Refer to D.
This area DID make a NEW LOW and NEW LOWEST H1 open for the day BELOW the previous AOI shown at C.
Therefore it is NOW THE valid AOI and the previous AOI at C is no longer valid.

I hope that helps.

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  • #18,468
  • Dec 14, 2024 7:36pm Dec 14, 2024 7:36pm
Quoting MichaelG
{quote} Hi Igumapips. The name of the thread is HIGHEST open/LOWEST open. That is for the WHOLE day. Please refer to the chart at A. That is the Highest H1 OPEN for the entire day. And also the Highest HIGH for the entire day. So that will NOT change UNLESS a new HIGH/HIGHEST H1 open is made on that day. As you know, that did NOT happen. Refer to B. That area is NOT the HIGHEST H1 open or HIGH of the entire day, so it is NOT valid for a trade using this method. Refer to C. At that time of the day, it was the LOWEST H1 open and LOW for the day at...
Yes, it's Highest High of the current day. Not retracement High.
Your input and patience appreciated as always Michael...
  • #18,469
  • Dec 15, 2024 12:11pm Dec 15, 2024 12:11pm
Quoting MichaelG
{quote} Hi Igumapips. The name of the thread is HIGHEST open/LOWEST open. That is for the WHOLE day. Please refer to the chart at A. That is the Highest H1 OPEN for the entire day. And also the Highest HIGH for the entire day. So that will NOT change UNLESS a new HIGH/HIGHEST H1 open is made on that day. As you know, that did NOT happen. Refer to B. That area is NOT the HIGHEST H1 open or HIGH of the entire day, so it is NOT valid for a trade using this method. Refer to C. At that time of the day, it was the LOWEST H1 open and LOW for the day at...
MichaelG, Thanks for the explanation. One of your PDF gave me insight to HOLO. It is very clear now.
It is good to ask question for clarity sake.
  • #18,470
  • Dec 15, 2024 1:22pm Dec 15, 2024 1:22pm
Quoting DwnUndrTrdr
{quote} Yes, it's Highest High of the current day. Not retracement High. Your input and patience appreciated as always Michael...
Thanks
  • #18,471
  • Dec 15, 2024 7:23pm Dec 15, 2024 7:23pm
Quoting Igumapips
{quote} MichaelG, Thanks for the explanation. One of your PDF gave me insight to HOLO. It is very clear now. It is good to ask question for clarity sake.
Is there something in the rules that isn't clear?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,472
  • Dec 15, 2024 10:50pm Dec 15, 2024 10:50pm
Quoting TooSlow
{quote} Is there something in the rules that isn't clear?
It is clear but understanding of the rules might be the issue.
  • #18,473
  • Dec 15, 2024 11:25pm Dec 15, 2024 11:25pm
Quoting Igumapips
{quote} It is clear but understanding of the rules might be the issue.
Understanding of the rules becomes the issue because the trader seeks to complicate the process.
I'm not personally attacking you Igumapips, it's just a constant on this thread....
  • #18,474
  • Dec 16, 2024 4:25am Dec 16, 2024 4:25am
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  • #18,475
  • Dec 16, 2024 9:03am Dec 16, 2024 9:03am
Hi tooslow can you explain what i did incorrectly for my entry to go wrong.
I entered when price went between the space of interest and then went down on the 1h timeframe. I entered on the 5min tf however shortly after price reversed and made a new high and I got stopped out here is the photo (ignore the purple lines)
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  • #18,476
  • Dec 16, 2024 9:48am Dec 16, 2024 9:48am
Quoting Jannah02
Hi tooslow can you explain what i did incorrectly for my entry to go wrong. I entered when price went between the space of interest and then went down on the 1h timeframe. I entered on the 5min tf however shortly after price reversed and made a new high and I got stopped out here is the photo (ignore the purple lines) {image}
Did you follow the rules?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,477
  • Dec 16, 2024 9:48am Dec 16, 2024 9:48am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,478
  • Dec 16, 2024 9:54am Dec 16, 2024 9:54am
Quoting TooSlow
{quote} Did you follow the rules?
yes from what im aware of I did follow the rules
  • #18,479
  • Dec 16, 2024 9:58am Dec 16, 2024 9:58am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,480
  • Dec 16, 2024 10:10am Dec 16, 2024 10:10am
Quoting TooSlow
{image}
Are you waiting for price to enter the point of interest or have you already entered? If so I thought we don't enter on a candle that has made a new open high
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