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Highest Open / Lowest Open Trade

  • #981
  • May 25, 2016 3:26am May 25, 2016 3:26am
Quoting HermanV
{quote} Do you trade the breakout?
Too Slow is probably asleep for another 3+ hours. Your question was answered in post 958 & 959
Everything will be okay in the end. If it's not okay, it's not the end.
  • #982
  • May 25, 2016 3:29am May 25, 2016 3:29am
Thanks theras
  • #983
  • May 25, 2016 3:57am May 25, 2016 3:57am
Quoting TooSlow
{quote} 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. No. Read the above again. You can enter at the highest/lowest price. You do not have to wait for price to cross it a second time. You do not have to wait for a candle to close.
Hi TooSlow.

First thanks a lot for your system and for your involvement.

I'd like to ask you :
1) "... you can enter at the ..."
HOW ? with a pending order ? For instance : I see a Highest open, the price goes up, I post a Sell stop at THE open and I wait for price to cross down ? Correct ?

2) Could you please publish / show a trade on a chart : Enter and Exit ?

Thanks in advance.

Best regards.

BBF
BigBlackfeet Always on the(forex) war path !
  • #984
  • May 25, 2016 5:34am May 25, 2016 5:34am
USD/JPY
Short @ 110.232 / 10:30,55 GMT

Per the rules ?

Best regards

BBF
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-05-25 12_30_24-Nouvelle notification.png Size: 35 KB
BigBlackfeet Always on the(forex) war path !
  • #985
  • May 25, 2016 6:26am May 25, 2016 6:26am
Quoting TooSlow
What makes people want to change things especially when things work just fine as is?
I did a static 4 day backtest on your system with historical 1 minute ticks (in an excel sheet).
Did this on 20 pairs and lost 2600 in 4 days. Some days are ok but more often I have days as shown in attachment.
When the orange "Action" line is at 6 we do nothing, when it is at 5 the price crossed over the HH and at 4 the price crosses under the HH and we enter a SHORT until it returns to 6 (when we hit the stoploss or BE1,BE5 or Trailing stop).
The program hit 5 losers and 1 winner that day for a total of -560.
Best.
Attached Image (click to enlarge)
Click to Enlarge Name: Knipsel.PNG Size: 127 KB
  • #986
  • May 25, 2016 7:15am May 25, 2016 7:15am
Quoting HermanV
{quote} Do you trade the breakout?
Not my usual thing.
Sometimes.
Depends on where things are the time.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #987
  • May 25, 2016 7:20am May 25, 2016 7:20am
Quoting BLACKFEET
{quote} Hi TooSlow. First thanks a lot for your system and for your involvement. I'd like to ask you : 1) "... you can enter at the ..." HOW ? with a pending order ? For instance : I see a Highest open, the price goes up, I post a Sell stop at THE open and I wait for price to cross down ? Correct ? 2) Could you please publish / show a trade on a chart : Enter and Exit ? Thanks in advance. Best regards. BBF
1) "... you can enter at the ..." HOW ? with a pending order ? For instance : I see a Highest open, the price goes up, I post a Sell stop at THE open and I wait for price to cross down ? Correct ?

Yes.
It can be accomplished as you say.
You can also wait and sell when price is at the highest open.

2) Could you please publish / show a trade on a chart : Enter and Exit ?

No.
I do not do that.
I have my reasons.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #988
  • May 25, 2016 7:24am May 25, 2016 7:24am
Quoting HermanV
{quote} I did a static 4 day backtest on your system with historical 1 minute ticks (in an excel sheet). Did this on 20 pairs and lost 2600 in 4 days. Some days are ok but more often I have days as shown in attachment. When the orange "Action" line is at 6 we do nothing, when it is at 5 the price crossed over the HH and at 4 the price crosses under the HH and we enter a SHORT until it returns to 6 (when we hit the stoploss or BE1,BE5 or Trailing stop). The program hit 5 losers and 1 winner that day for a total of -560. Best. {image}
I knew this day would come.
Backtests mean nothing to me.
There a many variables that most backtests fail to take into account.

How many backtests show winning systems but when traded cause accounts to be wiped out?
Since your backtest showed this is a loser, should I give back all the money and shut down this thread?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #989
  • May 25, 2016 7:29am May 25, 2016 7:29am
Attached Image (click to enlarge)
Click to Enlarge Name: tooslow1.png Size: 37 KB


Stop moved to BE+1.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #990
  • May 25, 2016 7:32am May 25, 2016 7:32am
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow.png Size: 38 KB


Waiting


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
  • #991
  • May 25, 2016 7:48am May 25, 2016 7:48am
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow2.png Size: 37 KB




WARNING

When price breaks through yesterday's high or low, that is a breakout!
Trade the reversal with caution.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #992
  • May 25, 2016 8:10am May 25, 2016 8:10am
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow.png Size: 39 KB

Breaking a personal rule.
Showing trade levels on this trade.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #993
  • May 25, 2016 8:14am May 25, 2016 8:14am
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow2.png Size: 37 KB


Trailing stop hit
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #994
  • May 25, 2016 8:24am May 25, 2016 8:24am
What's cookin'! Good morning/evening everyone. How are the charts lookin'??
  • #995
  • May 25, 2016 8:29am May 25, 2016 8:29am
[quote=TooSlow;8945068]{quote} There a many variables that most backtests fail to take into account. quote]
It was my intent to automate your system and I applied all the rules published in this thread. If there are more variables to take in account , please let me know. I will be glad to add them to my program...
  • #996
  • May 25, 2016 8:30am May 25, 2016 8:30am
Attached Image (click to enlarge)
Click to Enlarge Name: tooslow1.png Size: 39 KB


WARNING

usdcad news at top of hour.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #997
  • May 25, 2016 8:36am May 25, 2016 8:36am
Regarding risk management. Should stops be set tight between -20 and -30 pips or at the top of the previous candle ? what is efficient? Any thoughts from anyone?
  • #998
  • May 25, 2016 8:39am May 25, 2016 8:39am
[quote=HermanV;8945256]
Quoting TooSlow
{quote} There a many variables that most backtests fail to take into account. quote] It was my intent to automate your system and I applied all the rules published in this thread. If there are more variables to take in account , please let me know. I will be glad to add them to my program...
For one, trading is not done 24/7.
My trading sessions may last 2, 3 or 4 hours depending on many factors.
Pairs tested have to be tested in proper session.
Etc...
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #999
  • May 25, 2016 8:41am May 25, 2016 8:41am
Can not trade today but wishing everyone a good day. Stay safe.
  • #1,000
  • May 25, 2016 8:49am May 25, 2016 8:49am
Quoting TooSlow
{quote} 1) "... you can enter at the ..." HOW ? with a pending order ? For instance : I see a Highest open, the price goes up, I post a Sell stop at THE open and I wait for price to cross down ? Correct ? Yes. It can be accomplished as you say. You can also wait and sell when price is at the highest open. 2) Could you please publish / show a trade on a chart : Enter and Exit ? No. I do not do that. I have my reasons.
Hi TooSlow,

Thanks a lot. Very help full. Please Keep on !

Best regards.

BBF
BigBlackfeet Always on the(forex) war path !
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