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Highest Open / Lowest Open Trade

  • #19,321
  • Jan 20, 2025 7:58pm Jan 20, 2025 7:58pm
Quoting SaiTeja333
{quote} engulfing candle
How many 10 trade challenges have you taken?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,322
  • Jan 20, 2025 10:09pm Jan 20, 2025 10:09pm
late entry...
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  • #19,323
  • Jan 20, 2025 10:37pm Jan 20, 2025 10:37pm
Quoting Pasha7777
late entry... {image}
The first was a mistake.

The second was deliberate.

See RULE #2.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,324
  • Jan 20, 2025 10:42pm Jan 20, 2025 10:42pm
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  • #19,325
  • Jan 20, 2025 11:01pm Jan 20, 2025 11:01pm
HOLO makes a greedy trader not to be greedy any more because if his trade position hit 5 pips he bank 1 pip.
  • #19,326
  • Jan 20, 2025 11:45pm Jan 20, 2025 11:45pm
Quoting Igumapips
HOLO makes a greedy trader not to be greedy any more because if his trade position hit 5 pips he bank 1 pip.
As TooSlow has mentioned, once you master it you can add or subtract. For example one can exit the the position at 5 pips, one can take half position off at 5 pips and trail the other half. Many ways to manage the trade. Just be rigorously consistent with whatever approach you choose and avoid messing with your psychology.
  • #19,327
  • Jan 20, 2025 11:52pm Jan 20, 2025 11:52pm
This is beautiful
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  • #19,328
  • Jan 20, 2025 11:55pm Jan 20, 2025 11:55pm
Quoting DwnUndrTrdr
{quote} As TooSlow has mentioned, once you master it you can add or subtract. For example one can exit the the position at 5 pips, one can take half position off at 5 pips and trail the other half. Many ways to manage the trade. Just be rigorously consistent with whatever approach you choose and avoid messing with your psychology.
Most often, I enter two orders to close 2-3 +5 or so...I leave 1-3 at breakeven...
  • #19,329
  • Jan 21, 2025 12:16am Jan 21, 2025 12:16am
something like this
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  • #19,330
  • Jan 21, 2025 12:22am Jan 21, 2025 12:22am
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  • #19,331
  • Jan 21, 2025 3:29am Jan 21, 2025 3:29am
Quoting TooSlow
{quote} How many 10 trade challenges have you taken?
Yesterday, took a sell from day before yesterday's high, take profit 75pips, yesterday's high broke so waiting for a buy trade
yeah i'm just going with 0.01 lot
  • #19,332
  • Jan 21, 2025 5:27am Jan 21, 2025 5:27am
Quoting SaiTeja333
{quote} Yesterday, took a sell from day before yesterday's high, take profit 75pips, yesterday's high broke so waiting for a buy trade yeah i'm just going with 0.01 lot
The answer should be a number.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,333
  • Jan 21, 2025 6:37am Jan 21, 2025 6:37am
Hi TooSlow,
I'm very interested in this method and wanted to ask you a question if that's alright?

1- I'm in the UK so have both the London session (8am UK time) and the New York session (1pm UK time) where I can trade. When it comes to the crossover/addition of the New York session with the London session, should I keep my 1hr High/1hr Low lines from the UK session or move them to the New York session? (Presuming that there is no higher or lower 1 hour open).

Thanks very much
  • #19,334
  • Jan 21, 2025 6:59am Jan 21, 2025 6:59am
Rules could have been bent to fit this trade?
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  • #19,335
  • Jan 21, 2025 7:03am Jan 21, 2025 7:03am
Quoting Aspire86
Hi TooSlow, I'm very interested in this method and wanted to ask you a question if that's alright? 1- I'm in the UK so have both the London session (8am UK time) and the New York session (1pm UK time) where I can trade. When it comes to the crossover/addition of the New York session with the London session, should I keep my 1hr High/1hr Low lines from the UK session or move them to the New York session? (Presuming that there is no higher or lower 1 hour open). Thanks very much
Do the rules mention sessions?

Follow the rules!

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,336
  • Jan 21, 2025 7:08am Jan 21, 2025 7:08am
Quoting lorecavoli
Rules could have been bent to fit this trade? {image}
That's not bending the rules. That trade was nowhere near HOLO.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,337
  • Jan 21, 2025 7:10am Jan 21, 2025 7:10am
Quoting TooSlow
{quote} Do the rules mention sessions? Follow the rules! {image}
how many years did it take you to become a full time trader
  • #19,338
  • Jan 21, 2025 7:10am Jan 21, 2025 7:10am
Price was bouncing off [d1] 1 low, this is why I was asking.
  • #19,339
  • Jan 21, 2025 7:14am Jan 21, 2025 7:14am
Quoting Jannah02
{quote} how many years did it take you to become a full time trader
Have I made that claim?

Do not concern yourself with others. Focus on what is yours.

Yes, I trade full-time. If you call a few hours a day full-time. It didn't take me years. I started after I retired.

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,340
  • Jan 21, 2025 8:53am Jan 21, 2025 8:53am
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“Now, 2 patterns of market behavior happen on a regular basis:
1) the price breaks to new high's (or low's)
2) the price reverses from new high's (or low's)
They happen regardless of time frame.
They are phenomena that can be exploited without the fear if found out by others, that they might cease to exist.” - H. Rearden


Price Action #advancedalientrading

1) Price will either breakout of the high, low or both of the previous bar
2) Price will not breakout of the previous bar.
3) Price will either close above a level (line) or not.

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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