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Highest Open / Lowest Open Trade

  • #20,241
  • Apr 19, 2025 4:53pm Apr 19, 2025 4:53pm
Quoting Snirodha
{quote} Hi Zuke, Thanks for sharing info with us. Do you use fixed RR based on h4/daily levels or u keep adding to winning trading until the trade show reversal ?
I keep on adding to winners until reversal. But honestly, that's less important........the key thing is to ensure you practice executing the trades as per the rules until you can do it with your eyes closed.

Good luck
  • #20,242
  • Apr 20, 2025 1:04am Apr 20, 2025 1:04am
Who is taking the 10 trade challenge the week of April 20, 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
  • #20,243
  • Apr 20, 2025 4:19pm Apr 20, 2025 4:19pm
Quoting FX.Knight
{quote} Hey racingspider, based off what I see there was not a valid trade here based off the rules I've picked up on. It looks like you didn't update the new highest open at the top of the hour, 8am my time. {image} {image}
AH! I think you're right! The large red candle there was the start of the next hour - which might have been my confusion. So, if the new highest open makes an entry position there, trades on the 15m would need to open INSIDE that area and cross below it. So, if the hour sets a new high, the first 15m candle can be ignored, since it didn't START in the zone...
  • #20,244
  • Apr 21, 2025 9:24am Apr 21, 2025 9:24am
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 30 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #20,245
  • Apr 21, 2025 5:47pm Apr 21, 2025 5:47pm
Quoting TooSlow
{image}
What are your considerations for entering the trade on the breakout of the previous day's low?
In other words, how do you decide whether you skip a breakout or not?
  • #20,246
  • Apr 21, 2025 6:56pm Apr 21, 2025 6:56pm
10 Trade challenge week of April 13, 2025. (still on last week's challenge)

Trade #4. USD/JPY +12 (Buy) Trailing SL hit.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDJPY_2025-04-21_18-55-12.png Size: 29 KB
Click to Enlarge Name: USDJPY_2025-04-21_18-54-17.png Size: 32 KB
  • #20,247
  • Edited 7:43pm Apr 21, 2025 7:26pm | Edited 7:43pm
Here was mine today. Worked nicely, thought just BEFORE this, I accidentally entered on the wrong line. With this one, I finished the day in positive territory, which, since this is a baby account, isn't all that impressive, but pips caught are pips caught! After I do 10 trades (properly), I'll buy multiples and scale out or some such. This one just rode with a +5 trailing stop once I got to +10. I've made two proper trades, the first one stopped out at BE+1.
Attached Image (click to enlarge)
Click to Enlarge Name: racingspider_4_21_2025.png Size: 28 KB
  • #20,248
  • Apr 21, 2025 8:02pm Apr 21, 2025 8:02pm
Hi TS, I've been reading all the posts from post 1, on page 210 so still long way to go, gotta ask a question for you if you don't mind.
I read several places that we should be careful trading against the opposite color of the H1 candle. Please correct me but how does that work because color changes from inside out, lower timeframes to larger timeframes and vary rarely will both lower timeframes and H1 colors match. I know its not part of the rules but I'm assuming this is what dancing with the markets is? Assuming the m5 crosses the lowest open H1 will still be red. Ive provided an example below.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: M5.PNG Size: 12 KB
Click to Enlarge Name: H1.PNG Size: 15 KB
  • #20,249
  • Apr 21, 2025 10:31pm Apr 21, 2025 10:31pm
Quoting smilee89
{quote} What are your considerations for entering the trade on the breakout of the previous day's low? In other words, how do you decide whether you skip a breakout or not?

Yes TS, I would like to know as well. Thank you!
  • #20,250
  • Apr 22, 2025 7:34am Apr 22, 2025 7:34am
Quoting smilee89
{quote} What are your considerations for entering the trade on the breakout of the previous day's low? In other words, how do you decide whether you skip a breakout or not?
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 33 KB


Look at the ATR%. Wait till it's at least around 80% or higher. Another is where price is compared to prices ending in .000, .250, .500 and .750. Those levels act like "magnets". Another is to only enter with the H4 candle color.

Look at chart. ATR% is at 83%. Low of the day was at xxx.885. That's closer to .000 than .750. H4 was red at the time. So 2 out of 3 criteria in favor of entering the trade.

Good question, Mate.

Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #20,251
  • Apr 22, 2025 9:08am Apr 22, 2025 9:08am
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 33 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #20,252
  • Apr 22, 2025 9:48am Apr 22, 2025 9:48am
Quick question concerning the Highest 1H. Do you move it DURING the hour, or only after? So, if it is 9:16 and we make a new high, does that get bumped, or do we wait until 10:00 to move lines?
It was probably answered in one of the ONE THOUSAND pages (that's a lot of pages!). I've done 6 trades so far, the two losses I've had were from user error. A lot more trades are needed, but the simplicity of the rules sure helps a lot. Thank you!
  • #20,253
  • Apr 22, 2025 12:52pm Apr 22, 2025 12:52pm
Quoting racingspider
Quick question concerning the Highest 1H. Do you move it DURING the hour, or only after? So, if it is 9:16 and we make a new high, does that get bumped, or do we wait until 10:00 to move lines? It was probably answered in one of the ONE THOUSAND pages (that's a lot of pages!). I've done 6 trades so far, the two losses I've had were from user error. A lot more trades are needed, but the simplicity of the rules sure helps a lot. Thank you!
Hey, you only move your Highest or Lowest 1H open lines, at the top of the hour, if there is a new highest or lowest 1H open.

So like you were saying at you, at 10 you may have to move your Highest 1H open line, but only if there is a new Highest 1H open.
  • #20,254
  • Apr 22, 2025 1:00pm Apr 22, 2025 1:00pm
Quoting racingspider
Quick question concerning the Highest 1H. Do you move it DURING the hour, or only after? So, if it is 9:16 and we make a new high, does that get bumped, or do we wait until 10:00 to move lines? It was probably answered in one of the ONE THOUSAND pages (that's a lot of pages!). I've done 6 trades so far, the two losses I've had were from user error. A lot more trades are needed, but the simplicity of the rules sure helps a lot. Thank you!
Are you asking about the high or the highest open?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #20,255
  • Apr 22, 2025 1:52pm Apr 22, 2025 1:52pm
10 Trade challenge week of April 13, 2025. (still on last week's challenge)

Trade #5. USD/JPY -7 (Sell) Could of cut the trade before it hit -7 pips. Was in trade 10-12 mins I believe and only green I seen was like +.5 pips. Lots of green candles in a row.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDJPY_2025-04-22_13-44-35.png Size: 34 KB
Click to Enlarge Name: USDJPY_2025-04-22_13-42-47.png Size: 29 KB
  • #20,256
  • Apr 22, 2025 2:00pm Apr 22, 2025 2:00pm
Just the highest high/lowest low. Basically, do I wait for the hour to be over to update those, or can I update them during that hour?
If we made a new HIGHEST OPEN at 10:00, I'll shift that line up at 10:00.
If price goes up and beats the current highest high, do we push it up during the 10-11 hour?
I guess it doesn't matter, since you won't be taking a trade in that case. :O
  • #20,257
  • Apr 22, 2025 2:15pm Apr 22, 2025 2:15pm
10 Trade challenge week of April 13, 2025. (still on last week's challenge)

Trade #6. USD/JPY -7 (Sell) Lots of green candles in a row. Small AOI. Should of been closer to -5.5 or -6 pips but didn't have SL set.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDJPY_2025-04-22_14-11-43.png Size: 31 KB
Click to Enlarge Name: USDJPY_2025-04-22_14-09-40.png Size: 28 KB
  • #20,258
  • Apr 22, 2025 9:21pm Apr 22, 2025 9:21pm
Quoting racingspider
Just the highest high/lowest low. Basically, do I wait for the hour to be over to update those, or can I update them during that hour? If we made a new HIGHEST OPEN at 10:00, I'll shift that line up at 10:00. If price goes up and beats the current highest high, do we push it up during the 10-11 hour? I guess it doesn't matter, since you won't be taking a trade in that case. :O
The highest H1 open and lowest H1 open are where we enter trades. Those are the lines that get updated.

The indicator does that for you, Mate.

Cheers.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #20,259
  • Apr 22, 2025 9:41pm Apr 22, 2025 9:41pm
Trade # 9 +6.2 pips, I had to walk away so I set my TP.
One more trade to go then I think I start again on another pair as I dont think I'm confident just yet....thank TS
Attached Image (click to enlarge)
Click to Enlarge Name: Trade 9.PNG Size: 22 KB
  • #20,260
  • Apr 23, 2025 5:31am Apr 23, 2025 5:31am
Made the wrong decision to open 3 trades with 3 correlated pairs. Lost them all. Lesson is learned. Never again.
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