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Highest Open / Lowest Open Trade

  • #19,501
  • Jan 29, 2025 9:08pm Jan 29, 2025 9:08pm
Quoting rober159
I like your approach, (almost) naked trading. So you've been at this over 10 years and found it works for you? Great! {image}
The trader has to do the work.

Yes, over 10 years, Mate.

Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,502
  • Jan 30, 2025 1:51am Jan 30, 2025 1:51am
Quoting TooSlow
{quote} The trader has to do the work. Yes, over 10 years, Mate. Cheers!
Tell me about it haha
while the objective is profit, the job description is risk management
  • #19,503
  • Jan 30, 2025 3:35am Jan 30, 2025 3:35am
Hey TooSlow!
i've been studying your strategy/thread and i understand that the rules say to open the trade at the highest/lowest h1 open, but only after an m5 open inside the area. In the example you gave in the EUR/USD thread, there was no m5 open within the area since the 16h candle established a new lower h1 open, so i'm wondering what was it that gave you the confidence to enter the trade?

Thanks
  • #19,504
  • Jan 30, 2025 7:09am Jan 30, 2025 7:09am
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 27 KB



“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.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,505
  • Jan 30, 2025 7:12am Jan 30, 2025 7:12am
Quoting cunha
Hey TooSlow! i've been studying your strategy/thread and i understand that the rules say to open the trade at the highest/lowest h1 open, but only after an m5 open inside the area. In the example you gave in the EUR/USD thread, there was no m5 open within the area since the 16h candle established a new lower h1 open, so i'm wondering what was it that gave you the confidence to enter the trade? Thanks
“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)
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,506
  • Jan 30, 2025 7:28am Jan 30, 2025 7:28am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,507
  • Jan 30, 2025 7:32am Jan 30, 2025 7:32am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,508
  • Jan 30, 2025 7:37am Jan 30, 2025 7:37am
Attached Image (click to enlarge)
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,509
  • Jan 30, 2025 7:42am Jan 30, 2025 7:42am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,510
  • Jan 30, 2025 7:58am Jan 30, 2025 7:58am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,511
  • Jan 30, 2025 8:02am Jan 30, 2025 8:02am
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Click to Enlarge Name: TOOSLOW.png Size: 29 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,512
  • Jan 30, 2025 9:02am Jan 30, 2025 9:02am
Quoting TooSlow
{quote} “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)
I HAVE READ POST #1 AND THE EXAMPLE LINKS BUT I STILL HAVE A QUESTION

Thanks for the reply.
Still trying to figure out if/where the rules can be bent..
ok, the price reverses from new high's (or low's).. so in your example, the trade would have been open immediatelly on 16h open, correct?

So can you give us a review on today's low on EUR/USD on why it would be a good/bad trade?
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  • #19,513
  • Jan 30, 2025 3:46pm Jan 30, 2025 3:46pm
Quoting TooSlow
{image}
Hi TooSlow
What is considered Overtrading?
is it taking too many trades in a day?
  • #19,514
  • Jan 30, 2025 5:13pm Jan 30, 2025 5:13pm
Quoting cunha
{quote} I HAVE READ POST #1 AND THE EXAMPLE LINKS BUT I STILL HAVE A QUESTION Thanks for the reply. Still trying to figure out if/where the rules can be bent.. ok, the price reverses from new high's (or low's).. so in your example, the trade would have been open immediatelly on 16h open, correct? So can you give us a review on today's low on EUR/USD on why it would be a good/bad trade?{image}
Think...

The first hour if the day is the highest H1 open AND the lowest H1 open.

It would be smart to trade AWAY FROM the line not towards it. Price needs to range.

So price was above the H1 open and near it. So take the long.

Hope that helps, Mate.

Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,515
  • Jan 31, 2025 6:58am Jan 31, 2025 6:58am
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 29 KB

“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.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,516
  • Jan 31, 2025 7:00am Jan 31, 2025 7:00am
Quoting Jannah02
{quote} Hi TooSlow What is considered Overtrading? is it taking too many trades in a day?
Overtrading - it is subjective!

When you are taking many trades that are NOT part of your trading plan - that's overtrading.

It's not the number of trades, it is a high number of non-quality trades.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,517
  • Jan 31, 2025 7:06am Jan 31, 2025 7:06am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,518
  • Jan 31, 2025 7:16am Jan 31, 2025 7:16am
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 27 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,519
  • Jan 31, 2025 7:21am Jan 31, 2025 7:21am
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RED news at half past the hour.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,520
  • Jan 31, 2025 7:25am Jan 31, 2025 7:25am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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