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Highest Open / Lowest Open Trade

  • #19,481
  • Jan 29, 2025 10:04am Jan 29, 2025 10:04am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,482
  • Jan 29, 2025 10:05am Jan 29, 2025 10:05am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,483
  • Jan 29, 2025 10:07am Jan 29, 2025 10:07am
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Worth the wait.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,484
  • Jan 29, 2025 10:24am Jan 29, 2025 10:24am
Quoting TooSlow
{image} Worth the wait.
hi Tooslow how do you close the trade quick enough when price hits below 5 pips
  • #19,485
  • Jan 29, 2025 10:34am Jan 29, 2025 10:34am
Quoting Jannah02
{quote} hi Tooslow how do you close the trade quick enough when price hits below 5 pips
I do not understand your query. Please elaborate.

One must be ready to exit when money at risk.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,486
  • Jan 29, 2025 10:42am Jan 29, 2025 10:42am
Quoting TooSlow
{quote} I do not understand your query. Please elaborate. One must be ready to exit when money at risk.
so when price doesnt reach the 5 pips but its hits less then that would you close immediately when price goes back into the entry zone to avoid loss if you missed price hitting 1 or 2 pips
  • #19,487
  • Jan 29, 2025 10:45am Jan 29, 2025 10:45am
Quoting Jannah02
{quote} so when price doesnt reach the 5 pips but its hits less then that would you close immediately when price goes back into the entry zone to avoid loss if you missed price hitting 1 or 2 pips
Sometimes all I get is 1 or 2 pips. That's plenty. No, I don't wait for price to go back into the entry zone to exit. I enter in the entry zone, Mate.

Cheers.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,488
  • Jan 29, 2025 10:55am Jan 29, 2025 10:55am
Quoting TooSlow
{quote} Sometimes all I get is 1 or 2 pips. That's plenty. No, I don't wait for price to go back into the entry zone to exit. I enter in the entry zone, Mate. Cheers.
I think I may be asking this wrong
After I enter and price hits let's say 2 pips only however I didn't take profit in time so now price has reversed should I exit the trade straight away to avoid big loss as I missed the opportunity to take the profit, instead of waiting for it to hit the SL.
  • #19,489
  • Jan 29, 2025 10:58am Jan 29, 2025 10:58am
Quoting Jannah02
{quote} I think I may be asking this wrong After I enter and price hits let's say 2 pips only however I didn't take profit in time so now price has reversed should I exit the trade straight away to avoid big loss as I missed the opportunity to take the profit, instead of waiting for it to hit the SL.
Are you managing your money, the trade, your emotions or a combination of the three?


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
  • #19,490
  • Jan 29, 2025 11:03am Jan 29, 2025 11:03am
Quoting TooSlow
{quote} Are you managing your money, the trade, your emotions or a combination of the three? 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.
a combination of three
  • #19,491
  • Jan 29, 2025 11:09am Jan 29, 2025 11:09am
Quoting Jannah02
{quote} a combination of three
Rank them in priority order, most important first.


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
  • #19,492
  • Jan 29, 2025 11:44am Jan 29, 2025 11:44am
Quoting TooSlow
{quote} Rank them in priority order, most important first. 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.
hmmm
1. Emotions
2. The Money
3. The Trade
The emotions first as to even manage money or enter a trade you have to be in check with your emotions first
  • #19,493
  • Jan 29, 2025 12:11pm Jan 29, 2025 12:11pm
What's the Socratic method again?
  • #19,494
  • Jan 29, 2025 12:14pm Jan 29, 2025 12:14pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,495
  • Jan 29, 2025 12:14pm Jan 29, 2025 12:14pm
Quoting Jannah02
{quote} hmmm 1. Emotions 2. The Money 3. The Trade The emotions first as to even manage money or enter a trade you have to be in check with your emotions first
You need to be unemotional. It is difficult, at first.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,496
  • Edited 12:35pm Jan 29, 2025 12:15pm | Edited 12:35pm
Quoting MachineLearn
What's the Socratic method again?


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.


The five steps of the Socratic method are:

  1. Receive: Listen to the other person's argument, view, or premise
  2. Reflect: Paraphrase or repeat back the other person's argument or viewpoint
  3. Refine: Ask for evidence and challenge assumptions
  4. Re-state: Ask the other person to reformulate and restate their position
  5. Repeat: Assess the new premise and challenge any further wrong assumptions

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,497
  • Jan 29, 2025 12:43pm Jan 29, 2025 12:43pm
Quoting TooSlow
{quote} You need to be unemotional. It is difficult, at first.
what order would you rank each one in?
  • #19,498
  • Jan 29, 2025 12:52pm Jan 29, 2025 12:52pm
Quoting jannah02
{quote} what order would you rank each one in?
the money
the trade
the emotion

money: Leverage: Risk
trade: Markup: Predictions: Rules
emotion: Rules!
iSnipe
  • #19,499
  • Jan 29, 2025 1:00pm Jan 29, 2025 1:00pm
Quoting Jannah02
{quote} what order would you rank each one in?
It's all about the money. Not pips. Not method. Not rules. Not fear, greed, anger, etc...

“Benjamins” specifically refers to US one hundred dollar bills, as Benjamin Franklin's face is on the $100 bill. The phrase, “it's all about the Benjamins” means “it's all about the money.” In other words, money is all that matters.
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,500
  • Jan 29, 2025 2:54pm Jan 29, 2025 2:54pm
I like your approach, (almost) naked trading.
So you've been at this over 10 years and found it works for you? Great!
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while the objective is profit, the job description is risk management
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