I have been testing this technique for a while now and these are some of my observations, hopefully it will add something to the thread: You need to pick up a decent trigger whether that a time trigger (in my case 7am and 8am UK time), or a volatility trigger such as HH, HL etc. or a price level trigger, such as .00, open, close etc. It works when the trigger works, if the trigger didn't work, you will end up in deep DD. You need to be dynamic and directionless, any bias you have will work against you. While it is clear where to enter and where...
This is my preferred method of entry that I detail in my trading journal:
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.
I incorporate "I can see the higher edge within a single candlestick and the future candlestick. I can see where the higher probabilities lies within a single candlestick and the future candlestick." ""95% of the time price will close above or below the open." Amateurs will never see the edge in this quote, unless a professional point it out where the edge lies within this quote."
Does this fit your criteria?
"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
