Highest Open / Lowest Open Trade

Quoting Malkolm

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{quote} Entry 4: -3 Entered from the maximum opening price of M30 (point 1), stop loss (point 2) {image}

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Quoting reinaldopb

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10 trade challange pair USDJPY trade 1 = +10 (use TP) *below yesterday low | 63% ATR traded 2 = +10 (use TP) *inside yesterday range | 101% ATR trade 3 = +10 (use TP) *inside yesterday range | 101% ATR trade 4 = +5 (use TP) *below yesterday low | 52% ATR trade 5 = +5 (use TP) *below yesterday low | 56% ATR trade 6 = -10 *below yesterday low | 59% ATR trade 7 = +5 (use TP) *inside yesterday range | 67% ATR{image}

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Quoting TooSlow

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{quote} Why is your stop INSIDE the area of interest?

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Quoting TooSlow

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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. HIGHEST...

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Quoting reinaldopb

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10 trade challange pair USDJPY trade 1 = +10 (use TP) *below yesterday low | 63% ATR traded 2 = +10 (use TP) *inside yesterday range | 101% ATR trade 3 = +10 (use TP) *inside yesterday range | 101% ATR trade 4 = +5 (use TP) *below yesterday low | 52% ATR trade 5 = +5 (use TP) *below yesterday low | 56% ATR trade 6 = -10 *below yesterday low | 59% ATR trade 7 = +5 (use TP) *inside yesterday range | 67% ATR trade 8 = -11 *inside yesterday range | 70% ATR{image}

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Quoting reinaldopb

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10 trade challange pair USDJPY trade 1 = +10 (use TP) *below yesterday low | 63% ATR traded 2 = +10 (use TP) *inside yesterday range | 101% ATR trade 3 = +10 (use TP) *inside yesterday range | 101% ATR trade 4 = +5 (use TP) *below yesterday low | 52% ATR trade 5 = +5 (use TP) *below yesterday low | 56% ATR trade 6 = -10 *below yesterday low | 59% ATR trade 7 = +5 (use TP) *inside yesterday range | 67% ATR trade 8 = -11 *inside yesterday range | 70% ATR{image}

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Quoting WallFlower

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{quote} Hey Tooslow, I have a question. When price closes in our zone then immediately reverses into loss like in reinaldopb's trade, do you exit to not take the full loss? are you entering and exiting as you please around these points?

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Quoting TooSlow

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{quote} Do you believe what you see? Look at the chart. The M5 candle opened in the area of interest. What happened next? Price went slightly above the lowest H1 open and then... dropped below the H1 open, dropped below the M5 open and then dropped below the previous M5 low. What was price showing you? Did you see the warning? Did you pay attention to the ATR%?

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Quoting reinaldopb

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{quote} the warning appear after my trade got stopped when i enter there is no warning so what should i do at this particular moment ? should i move the stop right after the price going up above H1 low open ? or is this a valid loss ? im still learning on how to manage the trade please your advice Mr. TS thankyou

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Quoting TooSlow

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{quote} What is a "valid loss"? How you manage your risk and money is up to you. You decide.

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Quoting Malkolm

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{quote} Input 5: +5 I waited for the maximum opening of H4 and entered according to the rules (point 1). ATR is a good confirmation that the price is very likely to correct Input 6: +5 I liked re-entering a trade AFTER the previous trade (point 1) was either +1 or +5. I will take it as a note to myself. Also, I see that the price has reached the daily open, which could give a multiple of more pips, but I will build up the pips per trade as I gain experience. Cheers! {image}

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Quoting TooSlow

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{quote} What do YOU do?

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Quoting WallFlower

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{quote} I have been taking the full loss, which usually wipes out a few winners when I’m taking less than 10 pips on average, which is making me unprofitable. This tells me there is something else in the management side of things needing to be done. The entry is clear. The initial stop is clear. The sizing is clear Deciding what to do when you get triggered into the trade and how to extract the edge from entering at this point is what I need to work out. At what point is a winner deemed large enough to now not let it become a loss Do I take profit...

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