Trading is as simple as 1-2-3

Next hour...

Trade in progress.

Moving the stop protected the profit.

Will trade next hour.

Trade in progress. Stop in place.

Next hour.

Nice trading range.

Next hour.

Waiting.

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!

Waiting.

Nice when a trade goes your way.

Another success.

Winning should not make you feel any different. Have to stay focused and stick to plan.

Waiting.

What a run!

More pips on the pile.

Hi TooSlow,
I am in a half way through whole thread already ..... seems to me you are not using pending orders. Is there any particular reason for this?

Well case been clarified on page 28 post # 549....

This really is simple especially when compared to other trading styles.

Hi TooSlow!
With great interest I am following your thread .. in such simple way you are showing basic market mechanics... english is not my language and knowledge of english is not a strong part of me ... however I do translate all of your posts into polish and do analyze charts with text to confirm my correctnes of translating. You are doing fantastic job. I am a fan of CrutialPint thoughts but never was able to convert them to trading, you, with your work helps me a to do this ...
I gave up MA's, indicators and start playing with plain chart. I also use now one colour bars ... what amaizing discovery.
I am with forex four years now, some 16000 hrs spent with books and charts, but can not say I am a trader... Since found your thread I started everything all over again.
As a Junior member can not posts, maybe it is even better for me, its press me twice harder to read, read and read again.
TooSlow, love your writing, very essential and plain.
Good for everone....
Best Regards
BlacNapkins

Hello BlackNapkins, welcome.

Feel free to ask questions.


"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.