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Highest Open / Lowest Open Trade

  • #18,481
  • Dec 16, 2024 8:18am Dec 16, 2024 8:18am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,482
  • Dec 16, 2024 8:23am Dec 16, 2024 8:23am
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}
From what you posted, it is hard to determine if and where you should have entered. Annotating the chart would help us see, Mate.

A trader can follow the rules and still lose.

A trader can break one or more rules and still win.

That is the nature of trading.

Cheers!

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,483
  • Dec 16, 2024 8:54am Dec 16, 2024 8:54am
Quoting Jannah02
{quote} 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

What do you see?

We are not baking pies. Pies have recipes. If 10 bakers follow the recipe, the pies will turn out almost exactly the same. If the same baker follows the recipe 10 times in a row, the pies will turn out almost exactly the same.

We are trading. If 10 traders follow the rules, the results will differ. If the same trader follows the rules 10 times in a row, the results will differ.

What do you believe about trading rules?

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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
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,484
  • Dec 16, 2024 8:56am Dec 16, 2024 8:56am
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Calculated risk shorting at 154.30.


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
  • #18,485
  • Dec 16, 2024 1:06pm Dec 16, 2024 1:06pm
Inserted Video


Pay attention to #3. Can you explain how that applies to trading?

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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
  • #18,486
  • Dec 16, 2024 1:44pm Dec 16, 2024 1:44pm
Inserted Video


Is trading hard?

How does that video apply to trading?

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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
  • #18,487
  • Dec 17, 2024 12:06am Dec 17, 2024 12:06am
+5 pips this morning (:
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  • #18,488
  • Dec 17, 2024 2:11am Dec 17, 2024 2:11am
Dear Sir TooSlow.
I was wrong when Gu price breaks through yesterday's high and hit SL.
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  • #18,489
  • Dec 17, 2024 3:10am Dec 17, 2024 3:10am
Possible setup...
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  • #18,490
  • Dec 17, 2024 3:33am Dec 17, 2024 3:33am
I'm in
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  • #18,491
  • Edited 5:13am Dec 17, 2024 4:55am | Edited 5:13am
Quoting TooSlow
https://youtu.be/sMlLzaaUX1I?si=VMPRWvIvpM9IVWhK Is trading hard? How does that video apply to trading? {image} 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.
Perfect statement from Bruce Lee and TooSlow towards achieving the success and absolutely relates to business of trading.

Stop looking, concentrate and study one strategy and perhaps in a few years, 5% of the traders that do practice that, will see the light at the end of this winding tunnel we call trading.

My suggestion is to concentrate on one technique and one instrument. Once trader get to know, really get to know one technique and one instrument, that trader can always up the position size, instead of looking at other instruments to trade.

My experience, I trade only one technique and only Dow Futures for the past 3 years(after 5 years of searching) and with the great and consistent results.
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  • #18,492
  • Dec 17, 2024 5:43am Dec 17, 2024 5:43am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,493
  • Dec 17, 2024 6:33am Dec 17, 2024 6:33am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,494
  • Dec 17, 2024 6:55am Dec 17, 2024 6:55am
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WAIT FOR IT...
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,495
  • Dec 17, 2024 7:03am Dec 17, 2024 7:03am
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Look at the ATR%.

THAT'S WHY YOU WAIT!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,496
  • Dec 17, 2024 7:27am Dec 17, 2024 7:27am
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Do you think it's a good idea to buy now?


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
  • #18,497
  • Dec 17, 2024 7:44am Dec 17, 2024 7:44am
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What is price doing?

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
  • #18,498
  • Dec 17, 2024 7:47am Dec 17, 2024 7:47am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,499
  • Dec 17, 2024 8:00am Dec 17, 2024 8:00am
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New LO...
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,500
  • Dec 17, 2024 8:15am Dec 17, 2024 8:15am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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