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Highest Open / Lowest Open Trade

  • #881
  • May 23, 2016 11:33am May 23, 2016 11:33am
long udsjpy
  • #882
  • May 23, 2016 11:35am May 23, 2016 11:35am
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow.png Size: 39 KB


Consider this:
These are reversal trades.
Price reversing off daily extremes.
Price could also be breaking through yesterday's high or low.
Ditto for last week's/month's high/low.
Knowing where price is in relation to these levels is crucial.

Daily breakout can be up to a hundred pips or more.
Avoid stepping in front of an oncoming train.
In a phrase, pay attention.

Bar[3] broke below yesterday's (Friday's) low.
Over 100 pips.
Trading the reversal on bar[14] would have been profitable.
Trading the reversal on bar[9] would have been devastating unless stops were in place.
Traders must protect their money.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #883
  • May 23, 2016 11:38am May 23, 2016 11:38am
Attached Image (click to enlarge)
Click to Enlarge Name: tooslow1.png Size: 40 KB


Who got this?
Not me.
Juggling 4 other trades.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #884
  • May 23, 2016 11:45am May 23, 2016 11:45am
too slow watch eur/aud
  • #885
  • May 23, 2016 12:01pm May 23, 2016 12:01pm
stopped out usd/jpy
  • #886
  • May 23, 2016 12:03pm May 23, 2016 12:03pm
Quoting TooSlow
{image} Who got this? Not me. Juggling 4 other trades.
Do you use an indicator for the highest lowest opens? Looks really clean showing the open price
  • #887
  • May 23, 2016 12:12pm May 23, 2016 12:12pm
Scored 12 pips on EUR/USD. Still need practice, but I believe I have the idea. Entered and exited at the orange lines. Got stopped out or I would still be riding!


Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.JPG Size: 78 KB
  • #888
  • May 23, 2016 1:02pm May 23, 2016 1:02pm
Quoting wannalearn12
{quote} My chart snipper is broken. gotta install a new one real quick. waiting on usd jpy
Are you using MT4?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #889
  • May 23, 2016 1:05pm May 23, 2016 1:05pm
Quoting wannalearn12
{quote} Do you use an indicator for the highest lowest opens? Looks really clean showing the open price
Rather not discuss indicators.
They become the focus.
They distract attention away from the method.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #890
  • May 23, 2016 1:06pm May 23, 2016 1:06pm
Quoting ShomariG
Scored 12 pips on EUR/USD. Still need practice, but I believe I have the idea. Entered and exited at the orange lines. Got stopped out or I would still be riding! {image}
Nice trading 😀
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #891
  • May 23, 2016 2:07pm May 23, 2016 2:07pm
21 pips gbpeur
  • #892
  • May 23, 2016 6:01pm May 23, 2016 6:01pm
Read but take it with a grain of salt:

http://www.tradeciety.com/the-5-rule...ersal-trading/
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #893
  • May 23, 2016 6:08pm May 23, 2016 6:08pm
Quoting TooSlow
Read but take it with a grain of salt: http://www.tradeciety.com/the-5-rule...ersal-trading/
Good read.
  • #894
  • May 23, 2016 6:21pm May 23, 2016 6:21pm
A good read: http://jamesclear.com/3-stages-of-failure

This can be applied to trading.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #895
  • May 23, 2016 7:11pm May 23, 2016 7:11pm
Another good read: http://robertringer.com/rules-no-1-2-2/
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #896
  • May 23, 2016 8:00pm May 23, 2016 8:00pm
Attached Image (click to enlarge)
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #897
  • May 23, 2016 8:09pm May 23, 2016 8:09pm
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We have liftoff
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #898
  • May 23, 2016 8:18pm May 23, 2016 8:18pm
Attached Image (click to enlarge)
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Waiting

Hey davelansing: how goes it?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #899
  • May 23, 2016 8:52pm May 23, 2016 8:52pm
Attached Image (click to enlarge)
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Trailing stop hit.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #900
  • May 23, 2016 8:54pm May 23, 2016 8:54pm
"As you can see, reversal trading can be much more than trying to call tops and bottoms.Such an approach is also the best example for why you should start specializing in one trading pattern. Over the years of trading transitions exclusively, my understanding of those reversal scenarios has become better and better and by only trying to master one very specific trading concept, you will be able to quickly become relatively good at it." - Rolf

My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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