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Highest Open / Lowest Open Trade

  • #18,641
  • Dec 23, 2024 12:36pm Dec 23, 2024 12:36pm
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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.

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,642
  • Dec 24, 2024 10:50am Dec 24, 2024 10:50am
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Did you take this trade?

Did you exit with a profit?

Are you sitting at a loss?

Will you take the next trade?


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
  • #18,643
  • Edited 11:10am Dec 24, 2024 10:56am | Edited 11:10am
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Are you surprised when this works?

Are you thinking it won't work or will stop working?

What do you need to see or hear to be convinced?


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
  • #18,644
  • Dec 24, 2024 11:38am Dec 24, 2024 11:38am
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Didn't this happen yesterday?

Does history repeat?

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
  • #18,645
  • Dec 24, 2024 11:47am Dec 24, 2024 11:47am
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At what level did price stop and reverse?

Did you see the warning?

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
  • #18,646
  • Dec 24, 2024 12:24pm Dec 24, 2024 12:24pm
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Good trading is repetitive.

What level did price break through?


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
  • #18,647
  • Dec 24, 2024 12:47pm Dec 24, 2024 12:47pm
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Do you see what the spread is?

What do you do when the spread is not normal?


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
  • #18,648
  • Dec 24, 2024 2:34pm Dec 24, 2024 2:34pm
Quoting TooSlow
{image} Do you see what the spread is? What do you do when the spread is not normal? 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.
RULE #5
  • #18,649
  • Dec 24, 2024 3:07pm Dec 24, 2024 3:07pm
Quoting TooSlow
{image} Did you take this trade? Did you exit with a profit? Are you sitting at a loss? Will you take the next trade? 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.

Quote
Did you take this trade?
Yes, 2 times, though it's nerve-wracking to take those deals:
[1] Candlestick (1) went below the maximum H1 opening zone and NOT above the high of the day. Entry. Stop 6.7 point
[2]: Candlestick (2) according to the same rules


Quote
Did you exit with a profit?
No, the price didn't go to +5

Quote
Are you sitting at a loss?
I'm at a loss “in the moment,” but I'm not actually there yet. The loss will be at the high of the day

Quote
Will you take the next trade?
Yes, entering a trade by the book



I have 2 questions, TooSlow:
1) Is my [2] entry a violation of rule #6?
2) Is it correct to consider the market reversal on M5, if candle (3) closed red, and the next candle broke through the high of candle (3)?

I would be very grateful to you. Cheers!
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  • #18,650
  • Dec 24, 2024 6:27pm Dec 24, 2024 6:27pm
1) No. It violates Rule #2.

2) Use the rules on the chart.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,651
  • Dec 25, 2024 12:16am Dec 25, 2024 12:16am
Quoting TooSlow
1) No. It violates Rule #2. 2) Use the rules on the chart.
I apologize for the confusion.

I meant that candle (2) closes and candle (3) opens above the zone of interest, then falls below the highest opening price of H1, where the entry was made

If I understand correctly, this entry does not violate rule #6. Thanks!
  • #18,652
  • Dec 25, 2024 12:21am Dec 25, 2024 12:21am
Quoting Malkolm
{quote} I apologize for the confusion. I meant that candle (2) closes and candle (3) opens above the zone of interest, then falls below the highest opening price of H1, where the entry was made If I understand correctly, this entry does not violate rule #6. Thanks!
Rule #6 would not be violated.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,653
  • Dec 25, 2024 6:36am Dec 25, 2024 6:36am
Hi, trying out this great system and still working my way through the thread. Sorry if this has been asked before but how do you guys monitor the charts, hour by hour or does a indicator alert when in the AOI zone?
  • #18,654
  • Dec 25, 2024 1:51pm Dec 25, 2024 1:51pm
Quoting len82
Hi, trying out this great system and still working my way through the thread. Sorry if this has been asked before but how do you guys monitor the charts, hour by hour or does a indicator alert when in the AOI zone?

I have a problem with tracking when there are many trading charts. It loses focus

Listen to TooSlow, use 1 trading pair and you will have enough time for tracking
  • #18,655
  • Dec 26, 2024 7:07am Dec 26, 2024 7:07am
EU buy +5
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  • #18,656
  • Dec 26, 2024 11:38am Dec 26, 2024 11:38am
Quoting TooSlow
{image} A HOLO indicator. A button indicator. A pivots indicator. A template to use. Everything you need to trade HOLO. Green pips to all. Cheers. {file} {file} {file} {file}
Hey TooSlow,

Thanks for your work

Is it possible to get these indicators and template for Metatrader 5?


I currently use a lot more MT5, and it would be great to have it all there.

Once again, thank you!

Cheers!
  • #18,657
  • Dec 26, 2024 1:17pm Dec 26, 2024 1:17pm
Quoting yikes
{quote} Hey TooSlow, Thanks for your work Is it possible to get these indicators and template for Metatrader 5? I currently use a lot more MT5, and it would be great to have it all there. Once again, thank you! Cheers!
The MQ4 files for the indicators are in the files section of this thread. You can get the MT4 code converted to MT5. There are a few Forex Factory threads where members help each other with coding.

This is another reason I insist that only MQ4 files should be posted on my threads.

Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,658
  • Dec 26, 2024 1:52pm Dec 26, 2024 1:52pm
Quoting TooSlow
{quote} The MQ4 files for the indicators are in the files section of this thread. You can get the MT4 code converted to MT5. There are a few Forex Factory threads where members help each other with coding. This is another reason I insist that only MQ4 files should be posted on my threads. Cheers!
Oh, you mean .mq4 is the open source code of the indicator and you can convert it to .mq5, that's great!

I'm going to look into FF to see who can help me with the conversion.

Thanks!!!
  • #18,659
  • Dec 27, 2024 7:29am Dec 27, 2024 7:29am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,660
  • Dec 28, 2024 10:42am Dec 28, 2024 10:42am
Who is taking the 10 trade challenge the week of DECEMBER 29, 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
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