patiently waiting
Me, too.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
Highest Open / Lowest Open Trade
- #701
- May 19, 2016 8:49am May 19, 2016 8:49am
- Joined Mar 2012 | Status: Trader | 14,323 Posts
Me, too.
- #703
- Edited May 20, 2016 5:38am May 19, 2016 8:54am | Edited May 20, 2016 5:38am
- Joined Mar 2012 | Status: Trader | 14,323 Posts
Been banking USDCAD pips
I have been using the rules from my 123 thread:
RULES from my 123 thread:
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 Thread: Trading is as simple as 1-2-3
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #704
- May 19, 2016 8:57am May 19, 2016 8:57am
- Joined Mar 2012 | Status: Trader | 14,323 Posts
USDJPY might be setting up
Good eye
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #707
- May 19, 2016 9:01am May 19, 2016 9:01am
- Joined Mar 2012 | Status: Trader | 14,323 Posts
Missed the entry.
I am Too Slow
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #708
- May 19, 2016 9:02am May 19, 2016 9:02am
- Joined Mar 2012 | Status: Trader | 14,323 Posts
Yo 2slow, Have you looked at the distribution of the daily range/wick size?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #709
- May 19, 2016 9:03am May 19, 2016 9:03am
- Joined Mar 2012 | Status: Trader | 14,323 Posts
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #710
- May 19, 2016 9:05am May 19, 2016 9:05am
- Joined Mar 2012 | Status: Trader | 14,323 Posts
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #711
- May 19, 2016 9:07am May 19, 2016 9:07am
- Joined Mar 2012 | Status: Trader | 14,323 Posts
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #712
- May 19, 2016 9:08am May 19, 2016 9:08am
- | Joined May 2016 | Status: Keep on rockin' me babe | 1,711 Posts
wannalearn12, theras2000, ShomariG, phd893, bassemJ, xptitanlee, paultag, jmf0805, jonlw, Kunay9, Jbomb21990, Go5, Neo1 Ok you lurkers and voyeurs Post some charts or comments. This is group participation. Thank you.
Everything will be okay in the end. If it's not okay, it's not the end.
- #714
- May 19, 2016 9:33am May 19, 2016 9:33am
- | Joined May 2016 | Status: Keep on rockin' me babe | 1,711 Posts
- #715
- May 19, 2016 9:33am May 19, 2016 9:33am
- Joined Mar 2012 | Status: Trader | 14,323 Posts
Yo 2slow, Have you looked at the distribution of the daily range/wick size?
When a trader learns to wait patiently for this simple setup and enter without hesitation, pips will be banked.
The trader will come to realize this simple trade is adequate.
Rather than learn a bunch of technical analysis and concepts, the trader will be trading profitably.
When I read other threads, more often than not, I leave scratching my head thinking WTF!!
That may come across the wrong way but that is what happens.
Does the fault lie with me because I do not understand or could it be the method is too dang complicated?
The goal is for traders to leave this thread thinking, "I can do that!"
"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
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #716
- May 19, 2016 9:34am May 19, 2016 9:34am
- Joined Mar 2012 | Status: Trader | 14,323 Posts
usdcad H1 possible short? {image}
Is price near that level?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #717
- May 19, 2016 9:35am May 19, 2016 9:35am
- Joined Mar 2012 | Status: Trader | 14,323 Posts
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #718
- May 19, 2016 9:36am May 19, 2016 9:36am
- Joined Mar 2012 | Status: Trader | 14,323 Posts
I'm long usdcad on that last low.
Do you really want to learn?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #719
- May 19, 2016 9:36am May 19, 2016 9:36am
- | Joined May 2016 | Status: Keep on rockin' me babe | 1,711 Posts
- #720
- May 19, 2016 9:38am May 19, 2016 9:38am
- Joined Mar 2012 | Status: Trader | 14,323 Posts
patiently waiting
Enter and exit takes a second or 2.
All the rest is waiting.
Learn to wait for the setup.
You are your own worst enemy when you fail to wait.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade