Highest Open / Lowest Open Trade

Quoting youssef-B

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I just took a loss buying UJ according to the strategy, I am away from my laptop to show my entry, I entered at lowest open, the price game me 2 pip profit and then reversed and hit my SL, 17 pips, I already had a 10 pip profit from previous setup, so I am down 7 pips, but the problem is 1 loss will make you have 2 good trades if not more to breakeven, maybe I should have entered at lowest M30 or M15 to reduce my risk, or trading at session close is bad idea, I would like to hear your advice Too Slow

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Quoting nonibadsha

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{quote} Practice

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Quoting Malkolm

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{quote} Observe rules

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Quoting youssef-B

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I just took a loss buying UJ according to the strategy, I am away from my laptop to show my entry, I entered at lowest open, the price game me 2 pip profit and then reversed and hit my SL, 17 pips, I already had a 10 pip profit from previous setup, so I am down 7 pips, but the problem is 1 loss will make you have 2 good trades if not more to breakeven, maybe I should have entered at lowest M30 or M15 to reduce my risk, or trading at session close is bad idea, I would like to hear your advice Too Slow

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Quoting Igumapips

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HOLO has really helped me to reduce my workload as a trader. Before now, I used to look at almost all the time frames looking for setups, but today, I only concentrate on H1 and M5. I no longer look for candle patterns (like doji, pinbar, three white soldiers, three black crows, bullish and bearish engulf, etc.), support/resistance, trendlines, indicators, or custom indicators. daily signals, mentors, trading system, EA, etc.

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Quoting vidvad

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{quote} Beware of breakout mode. When price is trading below the previous day's low, that is breakout! Trade the reversals with caution, or, as I prefer, not at all. If you are going to trade the reversals when the market you are trading is in breakout mode, maybe consider using a small position size & tighter stop loss?

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Quoting TooSlow

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{quote} What one condition should happen before you consider entering against the breakout? 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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Quoting vidvad

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{quote} I'd wait for the bar after the breakout bar to make a higher high before fading the breakout and going short. I'd wait for the bar after the breakout bar to make a lower low before fading the breakout and going long. I will miss some trades, but I will also be minimizing risk. There will always be another set up.

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Quoting vidvad

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This afternoon's ES HOLO. 1 hour ES, dotted yellow lines are HOLO, red dashed line is current high of day, green dashed line is current low of day. 5 points profit on ES = +20 pips/ticks. {image}

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Quoting TooSlow

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{quote} No. There is something else that will improve your chance to profit.

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Quoting TooSlow

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{quote} What one condition should happen before you consider entering against the breakout? 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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Quoting TooSlow

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{quote} What one condition should happen before you consider entering against the breakout? 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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Quoting TooSlow

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{quote} What one condition should happen before you consider entering against the breakout? 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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Quoting Malkolm

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{quote} I would wait for the previous bar to break its high, then go long You wrote about it in post #19167: {quote}

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