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Highest Open / Lowest Open Trade

  • #441
  • May 17, 2016 9:11pm May 17, 2016 9:11pm
Quoting TooSlow
{quote} {image} Leaving pips on the table?
Stop out 1st. Trade looking to go long at 7287
Learn THEN Unlearn
  • #442
  • May 17, 2016 9:14pm May 17, 2016 9:14pm
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Slow moving.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #443
  • May 17, 2016 9:18pm May 17, 2016 9:18pm
Quoting TooSlow
{quote} EX4 files should be avoided in my opinion. MQ4 files are compiled on your computer and the code can be inspected. Which do you think is safer to use?
I have used csDash with no problems. Just a suggestion.
  • #444
  • Edited 9:40pm May 17, 2016 9:21pm | Edited 9:40pm
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Something to keep in mind.
Not a "rule" just a caution.
Do not trade the bar after breakout bar unless it makes a new high/low.

Breakout for this thread is defined as price breaking above yesterday's high or breaking below yesterday's low.

Bar[3] was the breakout bar.
Bar[2] was the bar after the breakout bar.
Trading prior to Bar[2] making a new high would have resulted in loss.

You will miss some trades.
Have no fear of missing out.
There are plenty of trades.
The idea is to eliminate unnecessary loss and risk.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #445
  • May 17, 2016 9:24pm May 17, 2016 9:24pm
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So much for USD being stronger than JPY.
Prices move.
JPY moved up from third place to second.

Some traders either do not realize or forget price drives indicators - not the other way around.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #446
  • May 17, 2016 9:37pm May 17, 2016 9:37pm
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Who traded THE BEAST?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #447
  • May 17, 2016 9:41pm May 17, 2016 9:41pm
Quoting TooSlow
{quote} Charts showing possibility are posted BEFORE the top of the hour so traders can participate. Charts showing what happened are posted later. As I mentioned before, there is nothing to teach: Every trader here can mark the highest and lowest H1 open. Every trader here can wait to enter at that mark. Every trader here can place and move stop losses. Other methods may require teaching and study but not this one. I can not take credit for anything other than sharing charts.
Great but show some trades....Please,pretty please.
  • #448
  • Edited 11:03pm May 17, 2016 10:08pm | Edited 11:03pm
Long at 7287 sl 7279
Stoped out .oh well
Learn THEN Unlearn
  • #449
  • May 17, 2016 10:08pm May 17, 2016 10:08pm
Quoting HighFivve
{quote} Stop out 1st. Trade looking to go long at 7287
Attached Image (click to enlarge)
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There you go.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #450
  • May 17, 2016 10:10pm May 17, 2016 10:10pm
Quoting edge540
{quote} Great but show some trades....Please,pretty please.
What do you mean show trades?
The entry is the highest / lowest H1 open.
Exit is either profit or loss.
You can watch your favorite pairs on your device.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #451
  • May 17, 2016 10:12pm May 17, 2016 10:12pm
Quoting edge540
{quote} Great but show some trades....Please,pretty please.
Attached Image (click to enlarge)
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #452
  • May 17, 2016 10:13pm May 17, 2016 10:13pm
Quoting edge540
{quote} Great but show some trades....Please,pretty please.
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow.png Size: 43 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #453
  • May 17, 2016 10:20pm May 17, 2016 10:20pm
Simple methods are the best if they work

do you have any statistics on past trades?
Bulls are stupid Animals!especially when Im short!
  • #454
  • May 17, 2016 10:39pm May 17, 2016 10:39pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #455
  • May 17, 2016 10:48pm May 17, 2016 10:48pm
Quoting roughtrader
Simple methods are the best if they work do you have any statistics on past trades?
No.
The past is the past.
The current trades have all of my attention.
The past trades are forgotten.
This thread is not for bragging, egos, or measuring male body parts.
The intent is to present a simple to use method for banking pips.
There is nothing to prove - nothing.
Too many threads degrade because of nonsense.
Let's not let that happen here.
Thank you.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #456
  • May 17, 2016 11:08pm May 17, 2016 11:08pm
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New low of day.
Stand aside and let the dust settle.
May take an hour or two.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #457
  • May 17, 2016 11:13pm May 17, 2016 11:13pm
Hi Too Slow,

I do think this method is simple, and had a few questions:

1. Are you primarily trading this method instead of the 1-2-3 thread method?
2. Putting things in my own words for this method:

a. Wait for H1 candle to close and mark its open (Bar 1). Say this Bar 1 has the Highest open for the current day
b. If the next H1 candle (Bar 0) trades above the open of Bar 1 and then comes back down to trade below it, short at the open of Bar 1 candle.
c. The open of Bar 0 candle is not considered.
d. On the other hand, if Bar 0 does not trade back down through the open of Bar 1, then no trade.
e. If Bar 0 open is higher than Bar 1, now monitor the open of bar 0 to take a possible entry on the next bar, once bar 0 closes (Follow steps a-e)

Is the above a fair representation?

Quoting TooSlow
{image} Something to keep in mind. Not a "rule" just a caution. Do not trade the bar after breakout bar unless it makes a new high/low. Breakout for this thread is defined as price breaking above yesterday's high or breaking below yesterday's low. Bar[3] was the breakout bar. Bar[2] was the bar after the breakout bar. Trading prior to Bar[2] making a new high would have resulted in loss. You will miss some trades. Have no fear of missing out. There are plenty of trades. The idea is to eliminate unnecessary loss and risk.
  • #458
  • May 17, 2016 11:18pm May 17, 2016 11:18pm
Quoting roughtrader
Simple methods are the best if they work
In order to trade profitably, you can not allow anything but reality to occupy your thoughts.
When it comes to trading, NOTHING "WORKS".
No trader in their right mind would bet their life on the next tick.
No one knows which direction the next tick will be.
When something works, it performs according to specifications.
Either the computer works when I turn it out or it doesn't.
The computer will work until a part fails.
Then it no longer works.
Trading is not like that at all.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #459
  • May 17, 2016 11:28pm May 17, 2016 11:28pm
1. Are you primarily trading this method instead of the 1-2-3 thread method?

The 1-2-3 method is a subset of this method.


2. Putting things in my own words for this method:
a. Wait for H1 candle to close and mark its open (Bar 1). Say this Bar 1 has the Highest open for the current day
b. If the next H1 candle (Bar 0) trades above the open of Bar 1 and then comes back down to trade below it, short at the open of Bar 1 candle.
c. The open of Bar 0 candle is not considered.
d. On the other hand, if Bar 0 does not trade back down through the open of Bar 1, then no trade.
e. If Bar 0 open is higher than Bar 1, now monitor the open of bar 0 to take a possible entry on the next bar, once bar 0 closes (Follow steps a-e)
Is the above a fair representation?

a) yes
b) Kind of, sort of. When bar[1] is bullish, bar[0] open will be higher than bar[1] open
c) Bar[0] open is considered if it is the highest/lowest open
d) Only when Bar[1] is bearish and Bar[0] opens below Bar[1] open.
e) Not exactly

No, not a fair representation.

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.


Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow.png Size: 40 KB


X marks the highest/lowest open.
Starting with bar[7], tell us how you would have traded.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #460
  • May 17, 2016 11:41pm May 17, 2016 11:41pm
Attached Image (click to enlarge)
Click to Enlarge Name: tooslow1.png Size: 40 KB


Bar[5] broke below yesterday's low.
Notice the struggle.
Moving to BE+1 ASAP is wise.
Wouldn't having 5 BE+1 trades in a row be preferable to stopping out with a loss?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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