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Highest Open / Lowest Open Trade

  • #19,741
  • Feb 14, 2025 7:29am Feb 14, 2025 7:29am
Quoting Pasha7777
mr.Tooslow. Are there any such indicators for mt5?
I don't use MT5 so I don't know.

You do not need indicators. You can put the lines on yourself.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,742
  • Feb 14, 2025 7:31am Feb 14, 2025 7:31am
Quoting humengmeng
Hello @TooSlow, I've been studying this system for a few days and have been going through your answers. Possibly due to my limited English proficiency, I might not have fully grasped the concepts. I've created two charts (1H and 15M) – could you please check if they're correct? Thank you in advance. {image} {image}
Please reread the rules.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,743
  • Feb 14, 2025 7:33am Feb 14, 2025 7:33am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,744
  • Feb 14, 2025 10:55am Feb 14, 2025 10:55am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,745
  • Feb 14, 2025 11:45am Feb 14, 2025 11:45am
The 7 Deadly Sins of Trading
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,746
  • Feb 15, 2025 3:35pm Feb 15, 2025 3:35pm
Who is taking the 10 trade challenge the week of February 16, 2025?

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
  • #19,747
  • Feb 17, 2025 1:19am Feb 17, 2025 1:19am
Quoting TooSlow
Who is taking the 10 trade challenge the week of February 16, 2025? 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
I am back for my second 10 trade challenge, do not think I gave this a fair shot last time
waiting waiting....
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  • #19,748
  • Feb 17, 2025 3:20am Feb 17, 2025 3:20am
Quoting TooSlow
Who is taking the 10 trade challenge the week of February 16, 2025? 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
Entry 1: +1 pip of profit. Moved stop loss to +1 after the M5 candle closed.


Could have taken +2, but rule #2 was violated because the spread widened by 1 pip. I'll take it on board

Next, the price went to +5 without me, but there will always be another trade (rule #5)
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  • #19,749
  • Feb 17, 2025 4:07am Feb 17, 2025 4:07am
Quoting Malkolm
{quote} Entry 1: +1 pip of profit. Moved stop loss to +1 after the M5 candle closed. Could have taken +2, but rule #2 was violated because the spread widened by 1 pip. I'll take it on board Next, the price went to +5 without me, but there will always be another trade (rule #5) {image} {image}
Entry 2: +1 pip of profit. Moved stop loss to +1 after the M5 candle closed.
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  • #19,750
  • Feb 17, 2025 4:12am Feb 17, 2025 4:12am
Quoting Malkolm
{quote} Entry 2: +1 pip of profit. Moved stop loss to +1 after the M5 candle closed. {image} {image} {image}
Entry 3: +1.5 pip profit.


Why? It was the 3rd entry within 1 hour, then the risk that the price will update the low of the day is higher.

Therefore, I set take profit at +1.5 pips, at the maximum local opening of the M5 price

Yes, ex post facto you could have taken +5
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  • #19,751
  • Feb 17, 2025 7:14am Feb 17, 2025 7:14am
Quoting Malkolm
{quote} Entry 3: +1.5 pip profit. Why? It was the 3rd entry within 1 hour, then the risk that the price will update the low of the day is higher. Therefore, I set take profit at +1.5 pips, at the maximum local opening of the M5 price Yes, ex post facto you could have taken +5 {image} {image}
Entry 4: +1
Exited at the close of M5
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  • #19,752
  • Feb 17, 2025 7:28am Feb 17, 2025 7:28am
Quoting Malkolm
{quote} Entry 4: +1 Exited at the close of M5 {image}
Entry 5: +1
Went out at the maximum opening of THIS hour
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  • #19,753
  • Feb 17, 2025 8:40am Feb 17, 2025 8:40am
Quoting Malkolm
{quote} Entry 5: +1 Went out at the maximum opening of THIS hour {image} {image}
Entry 6: +1

Moved stop loss to +1 after the close of the M5 candle.

Closed on stop loss at +1
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  • #19,754
  • Feb 18, 2025 12:48am Feb 18, 2025 12:48am
No entry yesterday for me
waiting again today
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  • #19,755
  • Feb 18, 2025 1:49am Feb 18, 2025 1:49am
I HAVE READ POST #1 AND THE EXAMPLE LINKS BUT I STILL HAVE A QUESTION

Good sir, this is a interesting strategy and I like that it's so simple.

Tell me, what is your Win Ratio on this strategy (excuse me if this question has been asked before, I see 988 pages already in this post).

Thanks

Viv
  • #19,756
  • Feb 18, 2025 3:30am Feb 18, 2025 3:30am
Quoting Viv5
I HAVE READ POST #1 AND THE EXAMPLE LINKS BUT I STILL HAVE A QUESTION Good sir, this is a interesting strategy and I like that it's so simple. Tell me, what is your Win Ratio on this strategy (excuse me if this question has been asked before, I see 988 pages already in this post). Thanks Viv
I don't think win rate matter for this kind of risk method. If you put results as a bell curve you will get lots of BE, +1 in the peak area and some big winners (end of curve) and losses on the otherside. As a trader we should try to reduce the losses side and this will create the edge we want. I am still studying this method and planning to take 10 trade challenge soon.
  • #19,757
  • Feb 18, 2025 6:31am Feb 18, 2025 6:31am
Quoting Malkolm
{quote} Entry 6: +1 Moved stop loss to +1 after the close of the M5 candle. Closed on stop loss at +1 {image} {image}
Entry 7: +1

After the M5 candle closed, I moved the stop loss to +1

Closing at +1 allowed to fix part of the profit and set a new entry setup
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  • #19,758
  • Feb 18, 2025 6:36am Feb 18, 2025 6:36am
Quoting Malkolm
{quote} Entry 7: +1 After the M5 candle closed, I moved the stop loss to +1 Closing at +1 allowed to fix part of the profit and set a new entry setup {image} {image}
Entry 8: +1.7

Take profit set at the local maximum opening of M5

Points are summarized
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  • #19,759
  • Feb 18, 2025 7:11am Feb 18, 2025 7:11am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,760
  • Feb 18, 2025 7:19am Feb 18, 2025 7:19am
[quote=Malkolm;15154053]{quote} Entry 8: +1.7 Take profit set at the local maximum opening of M5 Points are summarized {image}[/quoteI

I also took this trade but it hit my BE+1
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