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Highest Open / Lowest Open Trade

  • #701
  • May 19, 2016 10:49am May 19, 2016 10:49am
Quoting wannalearn12
patiently waiting
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Me, too.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #702
  • May 19, 2016 10:51am May 19, 2016 10:51am
Quoting TooSlow
{quote} You are welcome to post your charts showing whatever indicators you like. S/R, pivots, figs, wavy lines, etc... However, I may poke fun at your chart. Just my sense of humor. But I am not a CHART NAZI! Fair to post charts showing S/R and highest/lowest open in agreement with each other.
OK Too Slow, thanks for that
Everything will be okay in the end. If it's not okay, it's not the end.
  • #703
  • Edited May 20, 2016 7:38am May 19, 2016 10:54am | Edited May 20, 2016 7:38am
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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 10:57am May 19, 2016 10:57am
Quoting theras2000
USDJPY might be setting up
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Good eye
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #705
  • May 19, 2016 10:58am May 19, 2016 10:58am
Quoting wannalearn12
{quote} What initiated that trade for you? Just curious
Chart of my previous explanation
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Everything will be okay in the end. If it's not okay, it's not the end.
  • #706
  • May 19, 2016 10:58am May 19, 2016 10:58am
Yo 2slow,

Have you looked at the distribution of the daily range/wick size?
  • #707
  • May 19, 2016 11:01am May 19, 2016 11:01am
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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 11:02am May 19, 2016 11:02am
Quoting Anusragger
Yo 2slow, Have you looked at the distribution of the daily range/wick size?
Yes, I have.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #709
  • May 19, 2016 11:03am May 19, 2016 11:03am
Quoting theras2000
{quote} Chart of my previous explanation {image}
Where are the highest/lowest opens?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #710
  • May 19, 2016 11:05am May 19, 2016 11:05am
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.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #711
  • May 19, 2016 11:07am May 19, 2016 11:07am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #712
  • May 19, 2016 11:08am May 19, 2016 11:08am
usdcad H1 possible short?
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  • #713
  • May 19, 2016 11:11am May 19, 2016 11:11am
Quoting TooSlow
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.
USDJPY might still set up. Like to see it come down and tag the D1 Pivot and W1 R1 lines again and get rejected with a nice pin bar!
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Everything will be okay in the end. If it's not okay, it's not the end.
  • #714
  • May 19, 2016 11:33am May 19, 2016 11:33am
I'm long usdcad on that last low.
  • #715
  • May 19, 2016 11:33am May 19, 2016 11:33am
Quoting Anusragger
Yo 2slow, Have you looked at the distribution of the daily range/wick size?
My intent is to keep this simple.
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 11:34am May 19, 2016 11:34am
Quoting wannalearn12
usdcad H1 possible short? {image}
Where is the highest open?
Is price near that level?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #717
  • May 19, 2016 11:35am May 19, 2016 11:35am
Quoting theras2000
{quote} USDJPY might still set up. Like to see it come down and tag the D1 Pivot and W1 R1 lines again and get rejected with a nice pin bar! {image}
Please show the highest/lowest opens on your chart.
Thank you.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #718
  • May 19, 2016 11:36am May 19, 2016 11:36am
Quoting wannalearn12
I'm long usdcad on that last low.
Did you enter near the lowest open?


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 11:36am May 19, 2016 11:36am
see yall later tonight stopped at +5 usdcad
  • #720
  • May 19, 2016 11:38am May 19, 2016 11:38am
Quoting wannalearn12
patiently waiting
The trading sequence is always wait, enter, wait, exit, repeat.
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
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