My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
Highest Open / Lowest Open Trade
- #18,623
- Dec 23, 2024 6:11am Dec 23, 2024 6:11am
- Joined Mar 2012 | Status: Trader | 14,323 Posts
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #18,624
- Dec 23, 2024 6:12am Dec 23, 2024 6:12am
- Joined Mar 2012 | Status: Trader | 14,323 Posts
{quote} Is it correct to assume that if the red candle (2) opened below half of the previous green candle (1) is also applicable to candles (4 and 3), it means that the momentum is “bearish”? And if the impulse is “bearish”, then there is a reason to move the stop loss to breakeven or am I trying to pull the facts under the desired one? {image}
Follow the rules.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #18,626
- Dec 23, 2024 7:55am Dec 23, 2024 7:55am
- Joined Mar 2012 | Status: Trader | 14,323 Posts
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #18,627
- Dec 23, 2024 8:05am Dec 23, 2024 8:05am
- Joined Mar 2012 | Status: Trader | 14,323 Posts
{quote} Thanks. I am trying to absorb useful information from your screenshots like a sponge, so I am looking for a practical application of 50% candlestick for better early exit from the market, because except for the rules outlined by you, I do not have an early exit yet. But it is temporary
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #18,628
- Dec 23, 2024 8:37am Dec 23, 2024 8:37am
- Joined Mar 2012 | Status: Trader | 14,323 Posts
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #18,631
- Dec 23, 2024 9:06am Dec 23, 2024 9:06am
- Joined Mar 2012 | Status: Trader | 14,323 Posts
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #18,632
- Dec 23, 2024 9:07am Dec 23, 2024 9:07am
- Joined Mar 2012 | Status: Trader | 14,323 Posts
{quote} Dear TooSlow, in that particular trade I don't understand why did you take it ? because, for me the m5 candle never closed above the line (highest H1 open). Thanks a lot for the answer... Best, Boris
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #18,633
- Dec 23, 2024 9:11am Dec 23, 2024 9:11am
- Joined Mar 2012 | Status: Trader | 14,323 Posts
{quote} sorry i Just understood, you took the 1 st but not the 2nd one... sorry...
The distance from the H1 highest open to the daily high was 5.7 pips. When price fails to close above a line, what does that mean?
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
- #18,634
- Dec 23, 2024 9:15am Dec 23, 2024 9:15am
- Joined Mar 2012 | Status: Trader | 14,323 Posts
The trader does not know what will happen in the future but the trader knows "something" will happen. Either price will go up or go down.
Can you see what price is doing? Did you see what price did?
Did price make a new daily high?
How many times did price leave the area of interest?
What was your best guess of what price would do?
Are you willing to take a calculated risk?
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
- #18,636
- Dec 23, 2024 9:23am Dec 23, 2024 9:23am
- Joined Jul 2012 | Status: Trader | 1,880 Posts
TooSlow, i am living your thread, continue with your great work ethics, I am just not into collecting 5 pips per trade.
See you on the other side, my skills lie in,
1 trade for potential +150 pips with masterful MM and Mindfulness to hold it till TP.
See you on the other side, my skills lie in,
1 trade for potential +150 pips with masterful MM and Mindfulness to hold it till TP.
- #18,637
- Dec 23, 2024 9:26am Dec 23, 2024 9:26am
- Joined Mar 2012 | Status: Trader | 14,323 Posts
Traders who are learning HOLO should stick to the rules. You will see opportunities that don't conform to the rules.
DO NOT BE TEMPTED!
The rules are guardrails to keep you safe. After taking the 10-day challenge a few times and succeeding in making a profit, instead of refining the method, slowly increase your lot size to make more money. Rather than looking to make more pips with the method, look to make more money with the pips you are making.
Each and every trade is a risk. By minimizing the number of trades you take, you minimize your exposure to market forces, which you do not and can not control.
Cheers!
DO NOT BE TEMPTED!
The rules are guardrails to keep you safe. After taking the 10-day challenge a few times and succeeding in making a profit, instead of refining the method, slowly increase your lot size to make more money. Rather than looking to make more pips with the method, look to make more money with the pips you are making.
Each and every trade is a risk. By minimizing the number of trades you take, you minimize your exposure to market forces, which you do not and can not control.
Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #18,639
- Dec 23, 2024 9:36am Dec 23, 2024 9:36am
- Joined Mar 2012 | Status: Trader | 14,323 Posts
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #18,640
- Dec 23, 2024 10:21am Dec 23, 2024 10:21am
- Joined Mar 2012 | Status: Trader | 14,323 Posts
Anything look familiar?
Have you seen this before?
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