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Highest Open / Lowest Open Trade

  • #18,581
  • Dec 19, 2024 5:13am Dec 19, 2024 5:13am
Quoting Igumapips
Mates, Please, I want to know what I did wrong because I sold EURUSD and it hit my stop loss. This will enable me to be more careful {image} {image}
Have a look at the big red candle to the left you are selling into?
Price was forming a new daily high...
Common sense mate.
Look for better setups.
Follow the rules.
  • #18,582
  • Dec 19, 2024 5:23am Dec 19, 2024 5:23am
Quoting DwnUndrTrdr
{quote} Have a look at the big red candle to the left you are selling into? Price was forming a new daily high... Common sense mate. Look for better setups. Follow the rules.
Please, show it on the chart. Thanks
  • #18,583
  • Dec 19, 2024 5:41am Dec 19, 2024 5:41am
Quoting Igumapips
{quote} Please, show it on the chart. Thanks
Forgive me if there's a language barrier.
You need to learn basic market structure.
Learn Dow theory....
Get the basics down
  • #18,584
  • Dec 19, 2024 5:54am Dec 19, 2024 5:54am
Quoting DwnUndrTrdr
{quote} Forgive me if there's a language barrier. You need to learn basic market structure. Learn Dow theory.... Get the basics down
DwnUndrTrdr,

you did not wrong me.
I did not know why the trade goes against me.
This was why I seek for help.
I want you to show me where I missed it because I do not want it to occur again
I am a learner.
Thanks
  • #18,585
  • Dec 19, 2024 9:30am Dec 19, 2024 9:30am
USDCAD +5
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  • #18,586
  • Edited 1:51pm Dec 19, 2024 11:41am | Edited 1:51pm
Quoting TooSlow
Spongetrap: Trading conservatively and sticking to the rules, no bending/breaking, usually nets me a 1% - 2% return on my account balance daily. More could be made. It would be pushing. We all know what happens when you push the market. {image} {image}
is this still the same for yourself?
Also can this be possible just by trading the one pair usdjpy or is it from multiple throughout the day?
Also is the 1-2% from 1 trade a day?
  • #18,587
  • Dec 19, 2024 4:49pm Dec 19, 2024 4:49pm
Quoting Igumapips
Mates, Please, I want to know what I did wrong because I sold EURUSD and it hit my stop loss. This will enable me to be more careful {image} {image}
Wrong?

The indicator warned you.

Did you have an opportunity to take 2 pips?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,588
  • Dec 19, 2024 4:53pm Dec 19, 2024 4:53pm
Quoting Jannah02
{quote} is this still the same for yourself? Also can this be possible just by trading the one pair usdjpy or is it from multiple throughout the day? Also is the 1-2% from 1 trade a day?
Yes, Mate, still the same. Trading USDJPY. From a few trades each day.

Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,589
  • Dec 19, 2024 5:20pm Dec 19, 2024 5:20pm
Quoting TooSlow
{quote} Yes, Mate, still the same. Trading USDJPY. From a few trades each day. Cheers!
Sorry for all the questions, another one
Do you trade full time using this method?
I'm curious as I would like to be a full time trader in the future and if using this method is the way to go then I'm all on board
I have been practicing every chance I get, this also comes with alot of questions to be asked
  • #18,590
  • Dec 19, 2024 6:51pm Dec 19, 2024 6:51pm
Quoting TooSlow
{quote} Wrong? The indicator warned you. Did you have an opportunity to take 2 pips?
No, I did not see opportunity to take 2 pips.
I always see the warning but I did not understand it.
Does it mean that when one see the warning he should avoid the trade?
Again there are two kind of waring I usually see that the indicator display.

1. Warning: H1 high breakout
2. Extreme Caution: Price below yesterday.

What is the difference between the two; If you have explain it, please, help me with the page.
Thanks.
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  • #18,591
  • Dec 19, 2024 6:55pm Dec 19, 2024 6:55pm
Quoting Igumapips
{quote} Please, show it on the chart. Thanks
The big red candle from US data.
You were taking a high risk low probability trade
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  • #18,592
  • Dec 19, 2024 6:57pm Dec 19, 2024 6:57pm
Quoting Igumapips
{quote} No, I did not see opportunity to take 2 pips. I always see the warning but I did not understand it. Does it mean that when one see the warning he should avoid the trade? Again there are two kind of waring I usually see that the indicator display. 1. Warning: H1 high breakout 2. Extreme Caution: Price below yesterday. What is the difference between the two; If you have explain it, please, help me with the page. Thanks. {image} {image}
Use caution when price is breaking out. Check TooSlow's other thread "Trading is as simple as 1-2-3" to trade these conditions
  • #18,593
  • Edited 9:43pm Dec 19, 2024 9:06pm | Edited 9:43pm
Quoting DwnUndrTrdr
{quote} The big red candle from US data. You were taking a high risk low probability trade {image}

My answer below is not necessarily directed at DwnUndrTrdr, it is more on the topic.

I disagree, you and I have no clue what the next second will bring, so it could of been a perfect trade. Fact that it did not originated profit, is, part of business we call trading. Next time it may work out under the same circumstances. 95% of traders look at trading totally wrong..and come up with thousands of excuses why this or why that is not working.

Remember: Market is always right. I will give a small clue, it is all in your personal statistics of the method. Run 100 trades on demo without changing even 1 rule. It will either work for individual trader or it will not. If after 100 trades you are in profit, you got an edge.
  • #18,594
  • Dec 19, 2024 10:05pm Dec 19, 2024 10:05pm
Quoting driven18
{quote} My answer below is not necessarily directed at DwnUndrTrdr, it is more on the topic. I disagree, you and I have no clue what the next second will bring, so it could of been a perfect trade. Fact that it did not originated profit, is, part of business we call trading. Next time it may work out under the same circumstances. 95% of traders look at trading totally wrong..and come up with thousands of excuses why this or why that is not working. Remember: Market is always right. I will give a small clue, it is all in your personal statistics...
Totally hear what you're saying mate, and agree. For me, it's the mindset of trading. I have a couple of other methods/systems I trade. Sometimes, I have an A+ setup and it doesn't work. As you said, that's trading.
Trading can be seen to be analogous to posting here on this forum. I look at your reply above and accept it for what it is. Understanding your perspective and input. Not filtering but allowing the critical and subconcious mind to process and contribute to overall knowledge and growth . No Ego.
  • #18,595
  • Dec 20, 2024 1:59am Dec 20, 2024 1:59am
Quoting DwnUndrTrdr
{quote} Use caution when price is breaking out. Check TooSlow's other thread "Trading is as simple as 1-2-3" to trade these conditions
DwnUndrTrdr,

Thanks
  • #18,596
  • Dec 20, 2024 2:16am Dec 20, 2024 2:16am
Quoting driven18
{quote} My answer below is not necessarily directed at DwnUndrTrdr, it is more on the topic. I disagree, you and I have no clue what the next second will bring, so it could of been a perfect trade. Fact that it did not originated profit, is, part of business we call trading. Next time it may work out under the same circumstances. 95% of traders look at trading totally wrong..and come up with thousands of excuses why this or why that is not working. Remember: Market is always right. I will give a small clue, it is all in your personal statistics...
Driven18, I totally agree with you because I also traded the EURUSD and I made profit from there even with the Big red candle.
Below is the chart.
It made 57 pips and even sold down after the new day.
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  • #18,597
  • Dec 20, 2024 8:59am Dec 20, 2024 8:59am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,598
  • Dec 20, 2024 9:49am Dec 20, 2024 9:49am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,599
  • Dec 20, 2024 10:16am Dec 20, 2024 10:16am
Quoting TooSlow
{image}
Thanks a lot for your thread and your posts TooSlow,
so consistent since 2016, and so inspiring...

God bless you
  • #18,600
  • Dec 20, 2024 10:23am Dec 20, 2024 10:23am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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