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Trading is as simple as 1-2-3

  • #761
  • Feb 24, 2016 12:08pm Feb 24, 2016 12:08pm
Quoting apeter13
Hello TooSlow I like your idea and try to understand it. Q: Is test only valid, if there is a difference in case of long, between Open[0] and Low[1] or in case of short, between High[1] and Open[0]? In formula (Open[0] - Low[1]) <= 10 pips, (High[1] - Open[0]) <= 10 pips. High[1] daily high, Low[1] daily low. You mentioned in your post #576, it can be bent when appropriate in the moment, what does it mean in a trade exactly? Thanks in advance.
To answer the rest of your question... "Bent" means you observe price movement and enter the trade - it is obvious to you which way price is moving.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #762
  • Feb 24, 2016 12:09pm Feb 24, 2016 12:09pm
Attached Image (click to enlarge)
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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!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #763
  • Feb 24, 2016 12:21pm Feb 24, 2016 12:21pm
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Observation.

From observation comes the ability to recognize opportunity.


"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.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #764
  • Feb 24, 2016 12:31pm Feb 24, 2016 12:31pm
Attached Image (click to enlarge)
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Looking at different time frames does not change a thing.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #765
  • Feb 24, 2016 5:19pm Feb 24, 2016 5:19pm
Some traders wait until price has ranged a certain amount before they consider entering reversal trade. They may miss some winners but they avoid some losers. Trading is such a personal activity.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #766
  • Feb 25, 2016 2:37am Feb 25, 2016 2:37am
Trade 18

Attached Image (click to enlarge)
Click to Enlarge Name: 18_EURUSD.lmxH1.png Size: 26 KB


+5 pips
  • #767
  • Feb 25, 2016 4:44am Feb 25, 2016 4:44am
Trade 19

Attached Image (click to enlarge)
Click to Enlarge Name: 19_EURUSD.lmxH1.png Size: 25 KB


BE +0.8 pips

Trade 20

Attached Image (click to enlarge)
Click to Enlarge Name: 20_GBPUSD.lmxH1.png Size: 25 KB


BE +3 pips
  • #768
  • Feb 25, 2016 7:41am Feb 25, 2016 7:41am
Trade 21

Attached Image (click to enlarge)
Click to Enlarge Name: 21_EURJPY.lmxH1.png Size: 26 KB


+5 pips
  • #769
  • Feb 25, 2016 8:26am Feb 25, 2016 8:26am
Trade 22

Attached Image (click to enlarge)
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BE +3 pips
  • #770
  • Feb 25, 2016 8:52am Feb 25, 2016 8:52am
Quoting BlackNapkins
Trade 22 {image} BE +3 pips
If you drill down to M5 there is a good chance that you will get an entry in the wick of the entry bar. That will increase your profits.
If you are good at something, never do it for free--Joker
  • #771
  • Feb 25, 2016 9:36am Feb 25, 2016 9:36am
Trade 23

Attached Image (click to enlarge)
Click to Enlarge Name: 23_AUDJPY.lmxH1.png Size: 25 KB


BE + 0.9 pips
  • #772
  • Feb 25, 2016 9:41am Feb 25, 2016 9:41am
Quoting BlackNapkins
Trade 23 {image} BE + 0.9 pips
Trail your stop.

Do not be afraid to take a loss.
If you are good at something, never do it for free--Joker
  • #773
  • Feb 25, 2016 9:52am Feb 25, 2016 9:52am
Quoting jmn5611
{quote} If you drill down to M5 there is a good chance that you will get an entry in the wick of the entry bar. That will increase your profits.
​

Hi!
Thank you very much for your attention..... You see, I don't think I have problem with entry just started select entries only with clear testing high, at least 5-6 pips of move, to have time to prepare my limit order.... if price runs right away I just let it go .... Seems to me the big numbers of BE+ 1, 3 or 5 pips eliminate longer price runs .... as soon as I have certain number of trades taken all in exactly same way, will check what would have happened if use different approach to move SL to BE ....
Every your comments regarding my trading are very welcome....
  • #774
  • Feb 25, 2016 10:01am Feb 25, 2016 10:01am
Quoting BlackNapkins
{quote} ​ Hi! Thank you very much for your attention..... You see, I don't think I have problem with entry just started select entries only with clear testing high, at least 5-6 pips of move, to have time to prepare my limit order.... if price runs right away I just let it go .... Seems to me the big numbers of BE+ 1, 3 or 5 pips eliminate longer price runs .... as soon as I have certain number of trades taken all in exactly same way, will check what would have happened if use different approach to move SL to BE .... Every your comments regarding...
If you are good at something, never do it for free--Joker
  • #775
  • Feb 25, 2016 10:03am Feb 25, 2016 10:03am
4 * 5 = 20!

Four 5 pip trades is same as one 20 pip trade!! Take the pips when you can.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #776
  • Feb 25, 2016 10:49am Feb 25, 2016 10:49am
Attached Image (click to enlarge)
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BREAKING THE RULES

On observation, price failed to make a new daily high. It came close but no cigar. What happens next?

From observation comes the ability to recognize opportunity.


"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.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #777
  • Feb 26, 2016 3:28am Feb 26, 2016 3:28am
Hi,

Some internet issues do not allows me to trade today.... what a pity
I have made one change (improvement hopefully) to my trading, added one more line from other indicator, hope TooSlow forgive me this change...
I have brown line showing current H1 bar open price level. And this line is only visible on M1, M5 and M15. So do not disturb me when watching H1TF, and helps and time saving watching M1 or M5 placing limit orders, and conclude price action on lower TF (sequences od LL, HL, HL or HH)

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.lmxM1.png Size: 21 KB
  • #778
  • Feb 26, 2016 9:20am Feb 26, 2016 9:20am
Quoting BlackNapkins
Hi, Some internet issues do not allows me to trade today.... what a pity I have made one change (improvement hopefully) to my trading, added one more line from other indicator, hope TooSlow forgive me this change... I have brown line showing current H1 bar open price level. And this line is only visible on M1, M5 and M15. So do not disturb me when watching H1TF, and helps and time saving watching M1 or M5 placing limit orders, and conclude price action on lower TF (sequences od LL, HL, HL or HH) {image}
You don't have to ask anyone for forgiveness. You don't have to ask anyone for permission. It is YOUR account and YOUR money.

I thank you for sharing on my thread.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #779
  • Feb 26, 2016 9:45am Feb 26, 2016 9:45am
My friend is letting me use his account here to learn some things while he's off for the weekend. He's even letting me use some of his real money, albeit with severe limitations obviously.

I'm confused as to what you mean by "the current bar". English is not my first language so perhaps that is the problem. The first bar sets a new high. The second bar fails to set another new high and reverses. What is the 'current bar' following these two?
  • #780
  • Feb 26, 2016 11:34am Feb 26, 2016 11:34am
Quoting Monteverde
My friend is letting me use his account here to learn some things while he's off for the weekend. He's even letting me use some of his real money, albeit with severe limitations obviously. I'm confused as to what you mean by "the current bar". English is not my first language so perhaps that is the problem. The first bar sets a new high. The second bar fails to set another new high and reverses. What is the 'current bar' following these two?
Welcome to my thread.

CURRENT BAR - the bar that is open now and has not closed. Bar[0] is the current bar. Bar[1] is the previous bar or 1 bar ago. Bar[2] is 2 bars ago.

Do that help?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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