Highest Open / Lowest Open Trade

Glad I deployed trailing stop.

Thinking about a long as well on USDJPY.

Stop moved BE+1

I repeat this so new comers don't have to go back to the first post:

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.


Stop loss is the current daily high or current daily low.
Adjust your position size accordingly.

Take profit by moving stop up.
When trade is +5 or more, move stop to BE+1.
When trade is +10 or more, move to to BE+5, or switch to trailing stop.
Optional exit is to exit part of trade position with a profit to bank it, move stop to BE+1 and watch the market.


WARNING

When price breaks through yesterday's high or low, that is a breakout!
Trade the reversal with caution.


"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!

Shorted at the open.
Close enough for hand grenades
Stopped moved to BE+1.

Stopped out both trades be+1.

Trailing stop deployed.

Second try USDCAD: Stoploss already at BE+1

Trailed stop hit at +11pips for USDCAD

Trailing Stop hit.

Second try USDJPY. Stop loss at BE +1. Maybe this time it gets further.

Nope. SL hit again. Going for the third try.

Deployed trailing stop

Trailing stop hit.

Care to dance?

Would perhaps an EA be able to work for this?

Hello phd893, leancuisine, Go5, wannalearn12, Habo, theras2000, oubuntyou, luisinho, GoldnOil, Jbomb21990, unggulindo, mpeirwe:

Are you so busy banking pips you can't post?

I banked far more than usual today but I also lost on a few. I'm only two weeks into this and I feel as though I have learned a lot. THANK YOU FOR THIS THREAD.

Only up about 4 pips today. And probably going to take a hit on this USDJPY
Got in just after the m5 pin bar