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Highest Open / Lowest Open Trade

  • #821
  • May 20, 2016 3:02pm May 20, 2016 3:02pm
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow.png Size: 40 KB


And then price dropped
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #822
  • May 20, 2016 4:13pm May 20, 2016 4:13pm
The method is simple enough, but I think if there's an indicator to alert when a trade is in progress could be very useful...I'll try some tests to see how consistent it could be. Regards
Simplicity is the key to brilliance.
  • #823
  • May 20, 2016 4:25pm May 20, 2016 4:25pm
Quoting Inceptionist
The method is simple enough, but I think if there's an indicator to alert when a trade is in progress could be very useful...I'll try some tests to see how consistent it could be. Regards
Welcome Inceptionist:

Do you mean alert when price is above today's highest open or below today's lowest open so you can get ready to enter?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #825
  • May 21, 2016 6:26am May 21, 2016 6:26am
Quoting TooSlow
{quote} Welcome Inceptionist: Do you mean alert when price is above today's highest open or below today's lowest open so you can get ready to enter?
Yes, Exactly..This would be visually easier to recognize
Simplicity is the key to brilliance.
  • #826
  • May 22, 2016 12:09pm May 22, 2016 12:09pm
Quoting TooSlow
{quote} Welcome Inceptionist: Do you mean alert when price is above today's highest open or below today's lowest open so you can get ready to enter?
Indicator and an EA
  • #827
  • May 22, 2016 8:09pm May 22, 2016 8:09pm
hello tooslow,

you mind share your indicator to us? i like the clean visible indicator of yours, can i have it a try on my computer too? thanks in advance
  • #828
  • May 22, 2016 8:13pm May 22, 2016 8:13pm
The indicators are not mine to share.
The coder asks people to not post his code on other forums.
So I respect their wishes so they will keep sharing.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #829
  • May 22, 2016 8:57pm May 22, 2016 8:57pm
Attached Image (click to enlarge)
Click to Enlarge Name: tooslow1.png Size: 37 KB


Possibility.


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.
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.

To the NO voters in the poll. Please post the reason you believe this is not simple. Thank you.


"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 Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #830
  • May 22, 2016 9:05pm May 22, 2016 9:05pm
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow2.png Size: 36 KB


My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #831
  • May 22, 2016 9:26pm May 22, 2016 9:26pm
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow.png Size: 37 KB


Options:

  1. Move stop to BE+1
  2. Exit part of the position and Move stop to BE+1
  3. Deploy trailing stop
  4. Take all the pips now

What would you do?

My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #832
  • May 22, 2016 10:34pm May 22, 2016 10:34pm
Attached Image (click to enlarge)
Click to Enlarge Name: tooslow1.png Size: 37 KB


My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #833
  • May 22, 2016 10:59pm May 22, 2016 10:59pm
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow2.png Size: 37 KB


Now what would you do?

Options:

  1. Move stop to BE+?
  2. Exit part of the position and Move stop to BE+?
  3. Deploy trailing stop
  4. Take all the pips now

My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #834
  • May 22, 2016 11:04pm May 22, 2016 11:04pm
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow.png Size: 41 KB


My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #835
  • May 22, 2016 11:45pm May 22, 2016 11:45pm
Attached Image (click to enlarge)
Click to Enlarge Name: tooslow1.png Size: 41 KB


My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #836
  • May 22, 2016 11:52pm May 22, 2016 11:52pm
Hi, Too SLOW... first i would like to thank you for sharing this method....

I've just place a demo trade in NZDUSD..... I think my entry were placed according to the your rules.... correct me if i'm wrong....
Looking forward to learn to trade using this method.... and check for the consistency of green pips.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDH1.png Size: 36 KB
STRENGHT IS LIFE ,WEAKNESS IS DEATH - SWAMI VIVEKANANDA
  • #837
  • May 22, 2016 11:58pm May 22, 2016 11:58pm
Quoting sivaji
Hi, Too SLOW... first i would like to thank you for sharing this method.... I've just place a demo trade in NZDUSD..... I think my entry were placed according to the your rules.... correct me if i'm wrong.... Looking forward to learn to trade using this method.... and check for the consistency of green pips. {image}
The chart shows you followed the rules.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #838
  • May 22, 2016 11:59pm May 22, 2016 11:59pm
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow2.png Size: 40 KB


My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #839
  • May 23, 2016 12:11am May 23, 2016 12:11am
Attached Image (click to enlarge)
Click to Enlarge Name: tooslow1.png Size: 41 KB


Stopped moved to BE+1.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #840
  • May 23, 2016 1:45am May 23, 2016 1:45am
Quoting TooSlow
{image} Stopped moved to BE+1.
I'm studying your thread with interest. I'm guessing that your trade was stopped out at BE+1 in this instance?
Gone to a better place
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