Trading is as simple as 1-2-3

The AUDUSD trade worked out nicely.

Next hour.


I repeat this so new comers don't have to go back to the first post.


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!

I remember the good old days of rat trading. Basically the author did the same thing you do. I went into my archives and dug up and old template.

Yep - been there, done that, got the T-shirt.

And *** is alive and well and still kickin.

Next hour.

As mentioned before:

"Please understand none of this is original or new and this is presented for EDUCATIONAL PURPOSES ONLY."

The entry trigger used here differs from the Rat Reversal. The trades are entered in the RAT ZONE ( within 20 pips of the current daily high/daily low.

Every now and then, a trade really pays off.

Waiting....

In trade. Stops set.

Next hour.

Next hour.

Trading...

hi tooslow
please can you tell if is right?
thanks

Your entries are late according to where the arrows are pointing. Enter at bar open price, not bar closing price. It appears as though some of your entries are marked on some candles that did not test the daily high/daily low.

Next hour.

I repeat this so new comers don't have to go back to the first post.


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!

Athens, the solid brown line at the bottom is the open price of bar[0]. This is the entry level. But remember, the price must test the current low of the day made by bar[1] before you enter the trade. My criteria for a "test" is within 10 pips of the daily low. Naturally, that rule can be bent when appropriate in the moment. Does this help at all?

thanks tooslow

i will go step by step
and i dont want press you
you answer yes/no

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

all these are ok?

the new entry
its ok?

after daily H/L ( h1) in the next bar a little after his open




i am trying to use your way
thanks

You seem to understand but your entries are shown in hindsight. Need to be able to do this while trading.

Next hour.

athens, identify your targets.