Highest Open / Lowest Open Trade | Page 10 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

As complicated as necessary: Highest Open / Lowest Open Trade 861 replies

Highest & Lowest Open/Close Price for a Loop 3 replies

I need to highest and lowest SMA 14 replies

how to get yesterday price highest and lowest 7 replies

highest to lowest volume pairs??? 3 replies

Attachments: Highest Open / Lowest Open Trade
Exit Attachments

Highest Open / Lowest Open Trade

  • #181
  • May 13, 2016 1:59pm May 13, 2016 1:59pm
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow.png Size: 35 KB


Slow pips.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #182
  • May 13, 2016 2:00pm May 13, 2016 2:00pm
Attached Image (click to enlarge)
Click to Enlarge Name: tooslow1.png Size: 37 KB


Slow pips.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #183
  • May 13, 2016 2:19pm May 13, 2016 2:19pm
+10 on EURUSD based on the range bar closing above the lowest 1 hour open.
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-05-13_1344.png Size: 58 KB
  • #184
  • May 13, 2016 2:38pm May 13, 2016 2:38pm
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow.png Size: 36 KB


Attached Image (click to enlarge)
Click to Enlarge Name: tooslow2.png Size: 35 KB


Lucky day
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #185
  • May 13, 2016 2:39pm May 13, 2016 2:39pm
Quoting pip-boss
+10 on EURUSD based on the range bar closing above the lowest 1 hour open. {image}
Good trading, pip-boss.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #186
  • May 13, 2016 2:50pm May 13, 2016 2:50pm
Attached Image (click to enlarge)
Click to Enlarge Name: tooslow1.png Size: 36 KB


Needed a basket trader to catch all of the trades today.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #187
  • May 13, 2016 6:51pm May 13, 2016 6:51pm
Quoting pip-boss
One way to use the same size stop loss in pips for each trade would be with range bars. Wait until the low or high is set and then enter when a bull bar closes for a long (low of the day) or bear bar closes for a short (high of the day). Shoot for 1.5x or 2x the risk for the TP. Use a trailing stop if desired. Below in the image is an example of a few long opportunities during the NY session (think the setting is correct). You can limit the number of re-entries for each hour as desired. {image}
I find interesting your approach.

I tried to istall range bars but the graphic, after, doens't accept the mtf candles.

Would you be so kind to explain how do you do?
  • #188
  • May 14, 2016 2:30am May 14, 2016 2:30am
Quoting TooSlow
{image} Another lowest open.
Thank you brother ...Yes satisfactory
  • #189
  • May 14, 2016 5:31am May 14, 2016 5:31am
Hello, Too Slow, I was very interested in your trading system.
But I can not understand it . Please give a brief summary of your system on video for me. sorry my bad English.
  • #190
  • May 14, 2016 7:56am May 14, 2016 7:56am
Quoting flashpaul
{quote} I find interesting your approach. I tried to istall range bars but the graphic, after, doens't accept the mtf candles. Would you be so kind to explain how do you do?
Create a range bar chart and then load the m-candles indicator on it. Input the time frame to 60.
Attached File(s)
File Type: ex4 M-Candles.ex4   12 KB | 1,032 downloads
  • #191
  • May 14, 2016 8:15am May 14, 2016 8:15am
Quoting pip-boss
{quote} Create a range bar chart and then load the m-candles indicator on it. Input the time frame to 60. {file}
++++++++++++++++++++++++++++++++


Hi PB. Good stuff your sharing. Thank you.

I have your subgraph indie in Daily iterations only. Did you tweak it to adjust to whatever time frame you put it on?

&

It looks like you are using 4 pip range bars?

&

Which Range Bar EA do you use? This is a very simple one I've been using;
Attached File(s)
File Type: ex4 Range bars EA new format 1.ex4   22 KB | 648 downloads
File Type: mq4 Range bars EA new format 1.mq4   16 KB | 806 downloads
  • #192
  • May 14, 2016 9:08am May 14, 2016 9:08am
Quoting diamonddbw
{quote} ++++++++++++++++++++++++++++++++ Hi PB. Good stuff your sharing. Thank you. I have your subgraph indie in Daily iterations only. Did you tweak it to adjust to whatever time frame you put it on? & It looks like you are using 4 pip range bars? & Which Range Bar EA do you use? This is a very simple one I've been using; {file} {file}
Here's a screen shot of the indicators loaded on the offline M3 chart. Attached is the Range Bar EA that I using with a 3 pip setting.
Attached Image
Attached File(s)
File Type: ex4 RangeCharts.ex4   22 KB | 820 downloads
  • #193
  • May 14, 2016 7:46pm May 14, 2016 7:46pm
Quoting BasicTrade
Hello, Too Slow, I was very interested in your trading system. But I can not understand it . Please give a brief summary of your system on video for me. sorry my bad English.
Not set up for videos.
That is beyond what I do.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #194
  • May 15, 2016 9:07am May 15, 2016 9:07am
After reading other threads that contain analysis and prediction, I am even more confident to remain trading this way. The main reason is this method does not require analysis or prediction. There is nothing to explain after the fact. The entries are hard to beat. No interpretation is necessary.

That is my conclusion.

Thank you.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #195
  • May 15, 2016 9:17am May 15, 2016 9:17am
Quoting TooSlow
After reading other threads that contain analysis and prediction, I am even more confident to remain trading this way. The main reason is this method does not require analysis or prediction. There is nothing to explain after the fact. The entries are hard to beat. No interpretation is necessary. That is my conclusion. Thank you.
Hi TooSlow,

I finally understand your methodology and it works pretty well. I have always seen reversals during the NY session but until now I never realized how oftem reversals take place once a daily low or high is tested. I really like how simple and dynamic this is and will continue trade this way as long as it brings profits. Thanks for sharing your thoughts and ideas
  • #196
  • May 15, 2016 9:26am May 15, 2016 9:26am
Quoting FXChaser
{quote} Hi TooSlow, I finally understand your methodology and it works pretty well. I have always seen reversals during the NY session but until now I never realized how oftem reversals take place once a daily low or high is tested. I really like how simple and dynamic this is and will continue trade this way as long as it brings profits. Thanks for sharing your thoughts and ideas
Please explain the methodology using your own words. Some may find you easier to understand. Your charts may be clearer than mine. Thank you.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #197
  • May 15, 2016 12:18pm May 15, 2016 12:18pm
Attached Image (click to enlarge)
Click to Enlarge Name: tooslow1.png Size: 30 KB



HIGHEST OPEN / LOWEST OPEN TRADE

Place a line at the highest H1 open and lowest H1 open for the current day.

Sell short at the highest H1 open after price goes up through it and comes back down.

Buy at the lowest H1 open after price goes down through it and comes back up.



X MARKS THE SPOT

The red X's mark the highest open, at the time.
The blue X's mark the lowest open, at the time.

The above chart shows how trading with price as it reverses from the extreme can help you bank pips.

Bar[6] had the highest H1 open of the day.
Price during Bar[5] went above the Bar[6] open but fell back through it allowing the trader to bank a pocket full of pips.
A trader could have banked pips the same way when Bar[6] was open.

A few people responded "NO" to the poll question.
I hope this post changes your minds.
Thank you.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #198
  • May 15, 2016 12:19pm May 15, 2016 12:19pm
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow.png Size: 29 KB


Another chart marked with X's.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #199
  • May 15, 2016 12:22pm May 15, 2016 12:22pm
Attached Image (click to enlarge)
Click to Enlarge Name: tooslow2.png Size: 27 KB


Note bars 12 through 8 and bars 6 through 3.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #200
  • May 15, 2016 1:41pm May 15, 2016 1:41pm
Quoting TooSlow
{quote} Please explain the methodology using your own words. Some may find you easier to understand. Your charts may be clearer than mine. Thank you.

To keep track of the daily high using hourly bars:
My broker uses NY time so I just look at what the open of the high and open of the low was on the hourly chart at 16:00 EST and make a line for the high open and low open for the day. Then the time after 16:00 EST (New York time) I move the high open line if there is a high that opens higher and move the low open line if there is a lower open on the hourly chart. You keep moving these lines as new higher or lower opens occur until the next day. Its like a Dynamic support and resistance you don't have to think about.

For Entry (might differ from TooSlow's entry a little):
For short:
Once I see a candle open lower than the daily high open, I wait for the price on that candle to go higher than its open then place a pending order at that candle's open with the stop loss set at the high of the daily open high candle.

For long:
Once I see a candle open higher than the daily low open, I wait for the price on that candle to go lower than its open then place a pending order at that candle's open with the stop loss set at the low of the daily open low candle.

Note: I do so sometimes I use market orders if the market is moving fast.

The example screenshot is a sell entry and I used the low open as a point to exit.
Attached Image
12 traders viewing now