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Highest Open / Lowest Open Trade

  • #20,201
  • Apr 15, 2025 6:14am Apr 15, 2025 6:14am
Quoting Malkolm
{quote} Entry 1: +5 Entry 2: +5 Entry 3: +5 Entry 4: +5 {image}
Entry 5: -3

TooSlow, was there an error in the analysis here?

1 screen - entry price (1) and stop (2)

2 screen - pointwise, went out on the low of M1 candle

3 screen - general reason for exit: price was falling, formed LH, at the moment of entry price updated LL, so it is falling (as you said - shout "GET OUT)
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  • #20,202
  • Apr 15, 2025 6:16am Apr 15, 2025 6:16am
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  • #20,203
  • Apr 15, 2025 6:17am Apr 15, 2025 6:17am
Quoting Snirodha
{quote} Whats ur exist SL if the trade dosent go according to the plan ? Day low ?
I learn to quickly reduce stop to have a good R:R ratio, take a small profit from the table and leave it


I have described my analysis above, I will be glad to any discussion and advice
  • #20,204
  • Apr 15, 2025 7:25am Apr 15, 2025 7:25am
Quoting Malkolm
{quote} Entry 5: -3 TooSlow, was there an error in the analysis here? 1 screen - entry price (1) and stop (2) 2 screen - pointwise, went out on the low of M1 candle 3 screen - general reason for exit: price was falling, formed LH, at the moment of entry price updated LL, so it is falling (as you said - shout "GET OUT) {image} {image} {image}
Do the rules mention analysis?

Follow the rules.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #20,205
  • Apr 15, 2025 8:09am Apr 15, 2025 8:09am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #20,206
  • Apr 15, 2025 8:26am Apr 15, 2025 8:26am
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  • #20,207
  • Apr 15, 2025 8:26am Apr 15, 2025 8:26am
Quoting Snirodha
{quote} Trade 8. - 0.7 pips. Didn't like the PA. Better to get out BE when you not sure. Had opportunity to exist at +5 {image}
Trade 9: + 6.4
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  • #20,208
  • Apr 15, 2025 12:22pm Apr 15, 2025 12:22pm
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  • #20,209
  • Apr 15, 2025 12:58pm Apr 15, 2025 12:58pm
Quoting Pasha7777
{image}
You were up over 10 pips (twice) and didn't take profit?!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #20,210
  • Apr 15, 2025 6:04pm Apr 15, 2025 6:04pm
Quoting Malkolm
{quote} I learn to quickly reduce stop to have a good R:R ratio, take a small profit from the table and leave it I have described my analysis above, I will be glad to any discussion and advice
Thanks Mate. By default i put the SL at the daily low or high and manage the position with +5 trailing SL /TP. If the SL zone is big, i would consider putting it up at current m1 low.
Issues that i find so far is price can move either direction very fast. i am more than happy to take +5 and exist however one big loss can wipeout lot of winner if we are not careful with SL. You really need to have fast fingers
I also noticed if we put SL at Daily low or high chances of hitting 1R is very high. I'd say over 75% of the time.
  • #20,211
  • Apr 15, 2025 7:09pm Apr 15, 2025 7:09pm
Trade 2 of my challenge, it was a late entry as I tried to enter a trade manually rather than a pending buy stop. I wanted to wait until the candle changed colour to green. It never reached 5 pips into profit and started to reverse on me. I got out at 0.7pip, better than a loss.
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  • #20,212
  • Apr 15, 2025 7:16pm Apr 15, 2025 7:16pm
Trade 3 loss -2.8pips, used a sell stop order. Maybe the previous bullish bars should of been a hint that price was moving quickly through the ROI.
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  • #20,213
  • Apr 15, 2025 8:07pm Apr 15, 2025 8:07pm
Trade 4 +3.7pips, late entry not sure why I had a pending buy stop. I really should see if I can hold my trades a little longer.
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  • #20,214
  • Apr 15, 2025 8:25pm Apr 15, 2025 8:25pm
10 Trade challenge week of April 13, 2025.

Trade #2. USD/JPY BE+1 (Buy) Stopped out.
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  • #20,215
  • Edited 9:10pm Apr 15, 2025 8:33pm | Edited 9:10pm
Quoting Snirodha
{quote} Trade 9: + 6.4 {image}
Trade 10: + 10 pips.
Thank you TS, Michael and all other members helped me with this system

Final result for 10 trade challenge.
+8.6
+7.5
-3
+21
+20
+1
+9
-0.9
+6.4,
+10

Total pips : + 79.6

Things i learned.

1. If you master 1 thing just 1 thing you will have a winning system.
2. Follow what TS has outlined here. TS has given us a good foundation of a system with an edge.
3. If you are trying the 10 trade challenge don't rush and try to take all the entries presented. Wait for the perfect setup. Money will follow.
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  • #20,216
  • Apr 15, 2025 10:39pm Apr 15, 2025 10:39pm
Quoting TooSlow
{quote} You were up over 10 pips (twice) and didn't take profit?!
Yes, Mr. Touslow, of course the best option is when you sit and watch how it goes....there were cases, I set up tp and stop .Otherwise, of course, I would have closed earlier.
  • #20,217
  • Apr 15, 2025 11:00pm Apr 15, 2025 11:00pm
Quoting Snirodha
{quote} Trade 10: + 10 pips. Thank you TS, Michael and all other members helped me with this system Final result for 10 trade challenge. +8.6 +7.5 -3 +21 +20 +1 +9 -0.9 +6.4, +10 Total pips : + 79.6 Things i learned. 1. If you master 1 thing just 1 thing you will have a winning system. 2. Follow what TS has outlined here. TS has given us a good foundation of a system with an edge. 3. If you are trying the 10 trade challenge don't rush and try to take all the entries presented. Wait for the perfect setup. Money will follow. {image}
Congratulations on your +79.6 pips

I am curious, on trade #10 USD/JPY gave two entries. It looks like you didn't take the first one but took the second one for +10 pips. Was there any reasoning behind that worth sharing?

I took the first entry for BE+1 but I didn't take the second.
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  • #20,218
  • Apr 15, 2025 11:15pm Apr 15, 2025 11:15pm
Trade #5 +1.8 pips, I closed the trade early as on the 1m time frame price was consolidating and moving up.
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  • #20,219
  • Apr 15, 2025 11:42pm Apr 15, 2025 11:42pm
Trade # 6 -3pips, No more trading today, I think I'm overtrading and my losses outweigh my gains.
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  • #20,220
  • Apr 16, 2025 1:22am Apr 16, 2025 1:22am
Quoting FX.Knight
{quote} Congratulations on your +79.6 pips I am curious, on trade #10 USD/JPY gave two entries. It looks like you didn't take the first one but took the second one for +10 pips. Was there any reasoning behind that worth sharing? I took the first entry for BE+1 but I didn't take the second. {image}
Hi Mate, Thanks.
I was planning to take the 1st trade as you however i wanted to see what price does inside the zone for awhile before jumped into the trade. This is because of the previous h1 red candle and we were on a new h1 candle at that time. If i am not wrong 1st entry was at 1st 5 min candle printed for the new lowest open and there was not much to go by at that time.

For the 2nd entry what i saw was

Point 1 : Respect of recent low by price. If you see the chart you can see when it came to the AOI zone for the 2nd time it respected the level and price rejected from it.

Point 2: There was an upward trendline and price didn't break the level.

Point 3: price was around 142.899 level (lowest open at that time) and from what i observe price is most likely to reach 143.000 psychological level most of the time + retest of recent high wick(your entry). This is why i chose to take TP at 000 level and close it.

If i took the 1st entry same as yours i would have still looked to exit at 000 mark or +5 mark.
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