Trading is as simple as 1-2-3

Stop moved up.

Next hour.

Have to wait until next hour again.

Waiting for price to drop to current bar[0] open for entry.

Have to wait until next hour. New daily high current bar[0].

Sell at current bar[0] open. Stop in place.

Do not be tempted. I know all of the excuses.

"It only made a new high by a pip or two."

"It looked like it was going down."

"I didn't want to miss out."

"According to the number cruncher indicator, price was dropping...."

"Last time this happened, price kept going down."

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.

Let me rephrase in the form of yes/no or true/false questions.

1) Did a new daily high or new daily low happen during the previous bar. If YES/TRUE go to question 2, otherwise find another pair.

2) Did this bar test ( get near ) the new daily high or new daily low of the previous bar. If YES/TRUE go to question 3, otherwise find another pair.

3) Has price returned to the open price of the current bar. If YES/TRUE enter the trade in the direction price is crossing the open, otherwise do not enter the trade.

"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!

"SEE I TOLD YOU SO... BECAUSE OF YOU I MISSED OUT ON THIS TRADE. You're stupid and so is your thread."

This trade followed the rules. Stop moved.

There is no reason to abort the rules and force an entry. Patience is rewarded.

Wait for test of daily high and return to current bar[0] open price.

Wait for test of daily high and return to current bar[0] open price.

A good trade is one that follows the rules - regardless of outcome.

A nice trade.

Looking for second entry of the day.

Next hour.

Entry at current bar[0] open. Stop set.

Waiting for test of daily high.

Took the entry. Stop set.

Next hour.