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Highest Open / Lowest Open Trade

  • #20,041
  • Mar 24, 2025 9:59am Mar 24, 2025 9:59am
Attached Image (click to enlarge)
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #20,042
  • Mar 24, 2025 10:00am Mar 24, 2025 10:00am
I found the info...bar 2 becomes the entry?
  • #20,043
  • Mar 24, 2025 10:01am Mar 24, 2025 10:01am
Quoting Crows
I've come to the party really late and slowly trying to absorb all the information from over 1000 posts. I've read post 1 several times and I either couldn't see it or understood it (probable the later), do you mind answering this query referring to the attached chart. Candle 1 has closed and and created a new open high for the day, this is the part that screws me. Candle 2 open between the high of the day and the open of candle 1. Is the entry on candle 1 open high or the new current open high of candle 2? I'm asking because while candle 2 is forming...
The H1 of Candle 2 is the current highest H1 open.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #20,044
  • Mar 24, 2025 7:52pm Mar 24, 2025 7:52pm
Quoting Crows
I've come to the party really late and slowly trying to absorb all the information from over 1000 posts. I've read post 1 several times and I either couldn't see it or understood it (probable the later), do you mind answering this query referring to the attached chart. Candle 1 has closed and and created a new open high for the day, this is the part that screws me. Candle 2 open between the high of the day and the open of candle 1. Is the entry on candle 1 open high or the new current open high of candle 2? I'm asking because while candle 2 is forming...
Hey Crows, looks like you were looking at AUD/USD. I'm posting the end of the day chart to show you what I see, based off what I understood. I am posting this chart also to improve my understanding. Any insights or corrections would be appreciated!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSD_2025-03-24_19-38-35.png Size: 35 KB
Click to Enlarge Name: AUDUSD_2025-03-24_19-42-15.png Size: 38 KB
  • #20,045
  • Mar 25, 2025 7:36am Mar 25, 2025 7:36am
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 29 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #20,046
  • Mar 25, 2025 8:08am Mar 25, 2025 8:08am
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 28 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #20,047
  • Mar 25, 2025 9:37am Mar 25, 2025 9:37am
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 29 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #20,048
  • Mar 25, 2025 10:12am Mar 25, 2025 10:12am
USDJPY Trade #2 BE+1
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM5 #2.png Size: 22 KB
  • #20,049
  • Mar 25, 2025 10:36am Mar 25, 2025 10:36am
Quoting LucasFX7
USDJPY Trade #2 BE+1 {image}
Learn to take 5 pips rather than give back 4.

There are 4 outcomes in trading:

1) Small win
2) Small loss
3) Big win
4) Big loss

A trader must avoid #4 and learn to be happy with #1.

Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #20,050
  • Mar 25, 2025 10:43am Mar 25, 2025 10:43am
Quoting TooSlow
{quote} Learn to take 5 pips rather than give back 4. There are 4 outcomes in trading: 1) Small win 2) Small loss 3) Big win 4) Big loss A trader must avoid #4 and learn to be happy with #1. Cheers!
Got it, I'll focus on that!
  • #20,051
  • Mar 25, 2025 12:03pm Mar 25, 2025 12:03pm
USDJPY Trade #3 +4
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM5 #3.png Size: 25 KB
  • #20,052
  • Mar 25, 2025 5:18pm Mar 25, 2025 5:18pm
Thanks FX.Knight, I see it as you do.
I like your markings of the chart, i will do the same. Goodluck in your trading
Quoting FX.Knight
{quote} Hey Crows, looks like you were looking at AUD/USD. I'm posting the end of the day chart to show you what I see, based off what I understood. I am posting this chart also to improve my understanding. Any insights or corrections would be appreciated! {image} {image}
  • #20,053
  • Mar 26, 2025 12:09am Mar 26, 2025 12:09am
Can I please ask a question that goes against the rules of this thread. I have a trade manager and by the time I set it up and execute the trade Ive already missed some movement. What do you guys suggest, I think for this strategy you gotta be on the ball and act quick. I see in the files there is a trade buddy but it does nothing when I insert it on the chart.

TS: promise no more indicator talk.
  • #20,054
  • Mar 26, 2025 7:23am Mar 26, 2025 7:23am
Quoting Crows
Can I please ask a question that goes against the rules of this thread. I have a trade manager and by the time I set it up and execute the trade Ive already missed some movement. What do you guys suggest, I think for this strategy you gotta be on the ball and act quick. I see in the files there is a trade buddy but it does nothing when I insert it on the chart. TS: promise no more indicator talk.
Why do you think you need a trade manager?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #20,055
  • Mar 26, 2025 8:18am Mar 26, 2025 8:18am
Because using the native mt4 trade tool I have to manually calculate my lot sizes for my position size. I have a trade manager but the break even doesnt allow me to add 1 pip to it. It also allows me to trail my stop at 5pips interval. I'd love to hear how you do it, I have always used a manager but willing to adapt if it will make me efficient in executing my trades.
  • #20,056
  • Mar 26, 2025 8:20am Mar 26, 2025 8:20am
Quoting Crows
Because using the native mt4 trade tool I have to manually calculate my lot sizes for my position size. I have a trade manager but the break even doesnt allow me to add 1 pip to it. It also allows me to trail my stop at 5pips interval. I'd love to hear how you do it, I have always used a manager but willing to adapt if it will make me efficient in executing my trades.
Why are you having to calculate your lot sizes?

Keep it simple.

If you are taking the 10 day challenge, you should be trading 1 microlot during your learning phase.

Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #20,057
  • Mar 26, 2025 10:07am Mar 26, 2025 10:07am
USDJPY Trade #4 -9
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM5 #4.png Size: 22 KB
  • #20,058
  • Mar 26, 2025 10:33am Mar 26, 2025 10:33am
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 32 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #20,059
  • Mar 26, 2025 10:37am Mar 26, 2025 10:37am
Quoting LucasFX7
USDJPY Trade #4 -9 {image}
Can you explain why this trade was a loss?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #20,060
  • Mar 26, 2025 10:41am Mar 26, 2025 10:41am
Quoting TooSlow
{quote} Can you explain why this trade was a loss?
1 - The entry was a little late.
2 - The ATR was far from ideal (100%)

I believe these factors contributed to the stop.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 22 KB
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