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Highest Open / Lowest Open Trade

  • #582
  • May 18, 2016 7:27pm May 18, 2016 7:27pm
Quoting wannalearn12
Possible setup, any thoughts?? Please let me know. {image}
Are you asking whether or not that is the highest open of the day?Hmmmmm... maybe should look at highest/lowest for last 24 bars... Hmmmmmm
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #583
  • May 18, 2016 7:30pm May 18, 2016 7:30pm
This thread got SPAMMED.
I feel so honored.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #584
  • May 18, 2016 7:52pm May 18, 2016 7:52pm
Quoting TooSlow
This thread got SPAMMED. I feel so honored.
I thought that was great, you provide a good environment to trade around.
  • #585
  • May 18, 2016 8:05pm May 18, 2016 8:05pm
Quoting Go5
Stopped out on UC {image}
When you bought, was price moving up or down?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #586
  • May 18, 2016 8:06pm May 18, 2016 8:06pm
Quoting wannalearn12
nzd/usd aud/usd on watch? along with what has been posted?
All the pairs you want to trade should always be on watch for the setup.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #587
  • May 18, 2016 8:09pm May 18, 2016 8:09pm
News for AUD pairs this hour.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #588
  • May 18, 2016 8:11pm May 18, 2016 8:11pm
Quoting TooSlow
{quote} 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.
No one knows which direction the next tick will be.

You got that right! that is why we need statistical information to trade on,
we need this to get any kind of consistency to our trading and to hopefully get the odds on our side,
we do not just trade and then "hope" that it will work,

Either the computer works when I turn it on or it doesn't,

Excuse me for saying it sir, but this Is not a very informative answer, or something I would risk to base my trading on,
you surely must have some positive statistics or backtest on this method to be able to say it work or it does not work,
after all, you posted the idea here on FF.
Bulls are stupid Animals!especially when Im short!
  • #589
  • May 18, 2016 9:10pm May 18, 2016 9:10pm
Anyone get this one?
Attached Image (click to enlarge)
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  • #590
  • May 18, 2016 10:11pm May 18, 2016 10:11pm
Long audjpy at 7942
Learn THEN Unlearn
  • #591
  • Edited 1:16am May 19, 2016 12:32am | Edited 1:16am
Hi TS, this is a great thread, I am learning...

Some questions regarding the UJ trade yesterday if I may ask, as I may have understood the material & done it wrongly.

Highest/ Lowest Open Approach - On H1 TF(pic below):

  1. a daily highest open on candle was identified with a blue line, at that point of time
  2. the trigger candle which opened lower went thru the blue line & went back down
  3. a short trade was taken at the blue line price, i.e. the daily higest open
  4. a SL was placed on high of the trigger candle(later was buried as price shot up, but hereby attached M5 pic for illustration)
  5. it left no room to move to BE+1 & price moved back up
  6. Stop out

  1. am i doing it correctly with the approach?
  2. if yes, what can I look out for in order not to take this trade?

Thanks in advance.

Arthur

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY..nH1.png Size: 30 KB

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY..nM5.png Size: 27 KB


p/s: Thanks Diamond for the spread indicator
  • #592
  • May 19, 2016 12:59am May 19, 2016 12:59am
Attached Image (click to enlarge)
Click to Enlarge Name: tooslow1.png Size: 40 KB


Possibility.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #593
  • May 19, 2016 1:09am May 19, 2016 1:09am
Attached Image (click to enlarge)
Click to Enlarge Name: tooslow2.png Size: 40 KB


Stop moved to BE+1
Any takers?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #594
  • May 19, 2016 1:12am May 19, 2016 1:12am
Quoting roughtrader
{quote} Excuse me for saying it sir, but this Is not a very informative answer, or something I would risk to base my trading on, you surely must have some positive statistics or backtest on this method to be able to say it work or it does not work, after all, you posted the idea here on FF.
It is unfortunate that you do not find value in my answer.
Please exercise extreme caution when you use any system or method found on trading forums.
Test and verify everything to the best of your ability.
You have no idea who you are reading and what their motives might be.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #595
  • May 19, 2016 1:15am May 19, 2016 1:15am
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow.png Size: 40 KB


Stop switched to trailing
Does this count as posting trades in real time?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #596
  • May 19, 2016 1:31am May 19, 2016 1:31am
Attached Image (click to enlarge)
Click to Enlarge Name: tooslow1.png Size: 41 KB


Trailing stop took lion's share

Why did I choose to trade USDCAD now?
It had the highest daily range at the time.
There were 7 bullish H1 bars in a row.
Do you know how often that occurs?
The highest open setup appeared.

Normal pairs to trade during Asian session are AUD, JPY and NZD pairs.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #597
  • May 19, 2016 1:35am May 19, 2016 1:35am
Attached Image (click to enlarge)
Click to Enlarge Name: tooslow2.png Size: 39 KB


Waiting for setup
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #598
  • May 19, 2016 1:36am May 19, 2016 1:36am
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow.png Size: 39 KB


Possibility
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #599
  • May 19, 2016 1:38am May 19, 2016 1:38am
Attached Image (click to enlarge)
Click to Enlarge Name: tooslow1.png Size: 37 KB


Hmmmmmmmmmm.......
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #600
  • May 19, 2016 2:56am May 19, 2016 2:56am
Quoting TooSlow
{quote} When you bought, was price moving up or down?
Glad you asked, price had only gone some 3 pips below the lowest open, went up and down again when I got filled - jumped in too soon...
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