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Trading is as simple as 1-2-3

  • #221
  • Aug 3, 2015 10:02am Aug 3, 2015 10:02am
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Hard not to jump the gun.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #222
  • Edited 11:20am Aug 3, 2015 11:09am | Edited 11:20am
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Ready?

A bar makes a NEW DAILY high and closes. Next bar fails to make a higher high and reverses. Sell when price drops below the open price of the current bar.


A bar makes a NEW DAILY low and closes. Next bar fails to make a lower low and reverses. Buy when price rises above the open price of the current bar.


"Successful people ask better questions, and as a result, they get better answers." - Tony Robbins

Socratic method is named after the classical Greek philosopher Socrates. It is a form of inquiry and discussion between individuals, based on asking and answering questions to stimulate critical thinking and to illuminate ideas.


Please understand none of this is original or new and this is presented for EDUCATIONAL PURPOSES ONLY. You may find your results may differ. Please check with an accredited financial specialist before using real money. FOREX trading can be risky. YOU HAVE BEEN WARNED!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #223
  • Aug 3, 2015 11:11am Aug 3, 2015 11:11am
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Next hour...


A bar makes a NEW DAILY low and closes. Next bar fails to make a lower low and reverses. Buy when price rises above the open price of the current bar.


"Successful people ask better questions, and as a result, they get better answers." - Tony Robbins

Socratic method is named after the classical Greek philosopher Socrates. It is a form of inquiry and discussion between individuals, based on asking and answering questions to stimulate critical thinking and to illuminate ideas.


Please understand none of this is original or new and this is presented for EDUCATIONAL PURPOSES ONLY. You may find your results may differ. Please check with an accredited financial specialist before using real money. FOREX trading can be risky. YOU HAVE BEEN WARNED!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #224
  • Aug 3, 2015 11:37am Aug 3, 2015 11:37am
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Waiting.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #225
  • Aug 3, 2015 12:01pm Aug 3, 2015 12:01pm
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A bar makes a NEW DAILY high and closes. Next bar fails to make a higher high and reverses. Sell when price drops below the open price of the current bar.


A bar makes a NEW DAILY low and closes. Next bar fails to make a lower low and reverses. Buy when price rises above the open price of the current bar.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #226
  • Aug 3, 2015 12:19pm Aug 3, 2015 12:19pm
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The daily low was tested. Entry when price returned to open. Stop moved up.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #227
  • Aug 3, 2015 12:20pm Aug 3, 2015 12:20pm
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New daily low. No trade this hour.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #228
  • Aug 3, 2015 12:33pm Aug 3, 2015 12:33pm
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Trailing stop 5 pips triggered.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #229
  • Aug 3, 2015 12:35pm Aug 3, 2015 12:35pm
Quoting TooSlow
{image} The daily low was tested. Entry when price returned to open. Stop moved up.
Following this 123 setup but prefer to trade in the direction of the Daily open which is short on this pair(GBPJPY). I like this style of entries though as it's very clean and simple to follow.....👍
K.I.S.S.
  • #230
  • Aug 3, 2015 2:53pm Aug 3, 2015 2:53pm
Quoting fmsfx
{quote} Following this 123 setup but prefer to trade in the direction of the Daily open which is short on this pair(GBPJPY). I like this style of entries though as it's very clean and simple to follow.....👍
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Click to Enlarge Name: TooSlow.png Size: 16 KB


Hello fmsfx, astute observation. Trading away from the daily open. Bar[4] was a classic sell entry.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #231
  • Aug 3, 2015 4:11pm Aug 3, 2015 4:11pm
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Stop moved up.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #232
  • Aug 3, 2015 5:25pm Aug 3, 2015 5:25pm
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Plan the trade. Trade the plan. Cliche but effective and profitable.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #233
  • Aug 3, 2015 7:47pm Aug 3, 2015 7:47pm
Hi TooSlow,
Interesting method, what pairs do you trade and trading time?. Thanks

Quoting TooSlow
{image} Plan the trade. Trade the plan. Cliche but effective and profitable.
  • #234
  • Aug 3, 2015 8:49pm Aug 3, 2015 8:49pm
hi ts. any suggestions how to go about not to jump the gun ? thanks
  • #235
  • Aug 3, 2015 11:46pm Aug 3, 2015 11:46pm
Quoting Miche09
Hi TooSlow, Interesting method, what pairs do you trade and trading time?. Thanks {quote}
The pairs that are making new daily highs or new daily lows during the Ny session.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #236
  • Aug 3, 2015 11:50pm Aug 3, 2015 11:50pm
Quoting vratnica
hi ts. any suggestions how to go about not to jump the gun ? thanks
Keeping asking yourself your trading questions. Did it make a new daily high or daily low last bar? Did it test the high or low this bar? Has proce returned to the open of this bar? A "no" answer means wait. If you stick to your questions, you will trade like a machine.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #237
  • Aug 4, 2015 8:32am Aug 4, 2015 8:32am
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Waiting for open price entry.


A bar makes a NEW DAILY high and closes. Next bar fails to make a higher high and reverses. Sell when price drops below the open price of the current bar.


A bar makes a NEW DAILY low and closes. Next bar fails to make a lower low and reverses. Buy when price rises above the open price of the current bar.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #238
  • Aug 4, 2015 8:49am Aug 4, 2015 8:49am
Thank you, please, could you share the indicator that shows the D1(0) High and D1(0) Low?
Regards

Quoting TooSlow
{quote} The pairs that are making new daily highs or new daily lows during the Ny session.
  • #239
  • Aug 4, 2015 8:52am Aug 4, 2015 8:52am
If the current bar at H1 close as it is now(post 237), then the strategy it is going to apply for the next bar?.
Regards

Quoting TooSlow
{image} Waiting for open price entry. A bar makes a NEW DAILY high and closes. Next bar fails to make a higher high and reverses. Sell when price drops below the open price of the current bar. A bar makes a NEW DAILY low and closes. Next bar fails to make a lower low and reverses. Buy when price rises above the open price of the current bar.
  • #240
  • Aug 4, 2015 8:52am Aug 4, 2015 8:52am
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Next hour.


A bar makes a NEW DAILY high and closes. Next bar fails to make a higher high and reverses. Sell when price drops below the open price of the current bar.


A bar makes a NEW DAILY low and closes. Next bar fails to make a lower low and reverses. Buy when price rises above the open price of the current bar.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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