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Highest Open / Lowest Open Trade

  • #381
  • May 17, 2016 8:45am May 17, 2016 8:45am
Next question: USDCHF is on the way down, breaking the low open. Do you let it finish it's down move and look to reset at the next hour or would you jump in now, when price moves up through the current low open.

Similar situation at EURUSD, just reversed.
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  • #382
  • May 17, 2016 8:45am May 17, 2016 8:45am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #383
  • May 17, 2016 8:46am May 17, 2016 8:46am
Quoting Habo
Next question: USDCHF is on the way down, breaking the low open. Do you let it finish it's down move and look to reset at the next hour or would you jump in now, when price moves up through the current low open. Similar situation at EURUSD, just reversed. {image}
you jump in now

That sounds like FEAR OF MISSING OUT.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #384
  • May 17, 2016 8:49am May 17, 2016 8:49am
Quoting TooSlow
{quote} you jump in now That sounds like FEAR OF MISSING OUT.

Got it! I like how you sometimes don't answer directly....and yet you answer directly.
  • #385
  • May 17, 2016 8:50am May 17, 2016 8:50am
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???
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #386
  • May 17, 2016 8:52am May 17, 2016 8:52am
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When things seem not normal, waiting always works.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #387
  • May 17, 2016 8:52am May 17, 2016 8:52am
Quoting Habo
{quote} Got it! I like how you sometimes don't answer directly....and yet you answer directly.
"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
  • #388
  • May 17, 2016 8:59am May 17, 2016 8:59am
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From my 123 thread:

Next hour.

I repeat each day 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.

"Perfection is not when you have nothing more to add, but when you have nothing more to take away." - Antoine De Saint Exupery

"It is not about adding on, but taking away. The less technique, the better you are." - Bruce Lee


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
  • #389
  • May 17, 2016 9:02am May 17, 2016 9:02am
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Waiting to move stop.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #390
  • May 17, 2016 9:09am May 17, 2016 9:09am
Hi Too Slow,
When you have some free time could you look on mine charts if I understand correctly your method?
Thank you in advance
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  • #391
  • May 17, 2016 9:36am May 17, 2016 9:36am
Quoting kravmaga39
Hi Too Slow, When you have some free time could you look on mine charts if I understand correctly your method? Thank you in advance {image} {image} {image} {image}
Yes.
Looks like you understand.
Well done
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #392
  • May 17, 2016 9:45am May 17, 2016 9:45am
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Who got this one?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #393
  • May 17, 2016 9:49am May 17, 2016 9:49am
Quoting TooSlow
{image} Who got this one?
I did. With trailed and partial profit taking. Textbook!

Be back this afternoon.
  • #394
  • May 17, 2016 9:53am May 17, 2016 9:53am
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Close.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #395
  • May 17, 2016 9:54am May 17, 2016 9:54am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #396
  • May 17, 2016 9:55am May 17, 2016 9:55am
Using leverage 1:20 and a $500 initial deposit, I should be able to buy 1.0 position sizes correct?
  • #397
  • May 17, 2016 10:03am May 17, 2016 10:03am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #398
  • May 17, 2016 10:04am May 17, 2016 10:04am
Quoting wannalearn12
Using leverage 1:20 and a $500 initial deposit, I should be able to buy 1.0 position sizes correct?
Check with your broker for margin requirements.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #399
  • May 17, 2016 10:05am May 17, 2016 10:05am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #400
  • May 17, 2016 10:19am May 17, 2016 10:19am
More for the Bruce Lee fans:
"If you always put limits on everything you do, physical or anything else, it will spread into your work, and, into your life. There are No Limits! There are only Plateaus, and you must not stay there, you must go beyond them".
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