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Highest Open / Lowest Open Trade

  • #1,021
  • May 25, 2016 10:26am May 25, 2016 10:26am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,022
  • May 25, 2016 10:26am May 25, 2016 10:26am
A question regarding the current bar being the highest open for the day.

Current GBPUSD chart the 3 previous bars were the highest open today and all triggered if I'm correct?
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Simplicity is the ultimate in sophistication ~ Leonardo Da Vinci
  • #1,023
  • May 25, 2016 10:35am May 25, 2016 10:35am
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Trailing stop was hit.
Shall we dance again?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,024
  • May 25, 2016 10:36am May 25, 2016 10:36am
Quoting fisheggs
A question regarding the current bar being the highest open for the day. Current GBPUSD chart the 3 previous bars were the highest open today and all triggered if I'm correct? {image}
Yes.
Worst case should have be BE+1 each time.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,025
  • May 25, 2016 10:46am May 25, 2016 10:46am
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COUNTING CANDLES

Here is a "secret" you may not know - you need to count candles.
Count how many bull/bear or red/green candles are in a row for M1, M5, M15, etc.
This can give you a "clue" when to bank pips.
Counts higher than 3 happen but are rare.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,026
  • May 25, 2016 10:50am May 25, 2016 10:50am
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BREAKING PERSONAL RULE AGAIN to illustrate how counting candles works.
You can see stop is at BE+1.
Count of red M1 was 5 (dojis count) and red M5 was 2 signaling bank the pips.
I am being GREEDY and admit it.
I want price to drop far below 1.47000.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,027
  • May 25, 2016 10:54am May 25, 2016 10:54am
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Pure greed.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,028
  • May 25, 2016 10:57am May 25, 2016 10:57am
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Really greedy
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,029
  • May 25, 2016 10:59am May 25, 2016 10:59am
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There are 3 red M15 candles in a row.
Trailing stop finally deployed
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,030
  • May 25, 2016 11:02am May 25, 2016 11:02am
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Trailing stop hit.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,031
  • May 25, 2016 11:05am May 25, 2016 11:05am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,032
  • May 25, 2016 11:06am May 25, 2016 11:06am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,033
  • May 25, 2016 11:10am May 25, 2016 11:10am
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Who got some?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,034
  • May 25, 2016 11:16am May 25, 2016 11:16am
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Bank 5 pips or BE+1.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,035
  • May 25, 2016 11:27am May 25, 2016 11:27am
5 Ways People Make Trading Way Too Hard by Rob Booker
They worry more about looking good (or consistent) than they do about making money. They walk away from great trades that look silly, or that they can't explain. Some of your best trades will be ones you can't explain to anyone else (why you held onto a loser, why you got in so early, etc).
They don't face the bad trades early. If a trade goes wrong, immediately put it into the "I've got to work on this" category in the back of your mind. There are three things to do with every trade in your account: Close it now, set an order to close it at a specific price, or start performing "triage" to manage a loss.
They obsess about short-term gains. This is how most traders end up losing their entire account. Give yourself permission to make a very small amount of money when you're struggling (or learning). The big money can come later, after making a modest profit over and over becomes easy.
They want trading to be easy NOW, rather than easy later. Great traders spent months (usually years) learning to do one thing really well, and then blocked out everything else. It was really hard for a long time, and then kind of ... super easy after that.
They see life and trading (and almost everything) as a struggle. So it's hard. And there are people to blame. And VERY HARD THINGS. When I meet a great trader like Shonn Campbell, Matt LaCoco, or Chris Pulver, it's easy to see that they look at trading as if it's a game. There are some rules, and they are out to break, bend, twist those rules to their advantage. They want to have fun playing the game as much as possible. And of course they want to win the game. And the point of the game is to accumulate points, wins, profits over time.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,036
  • May 25, 2016 12:02pm May 25, 2016 12:02pm
coskund4, wannalearn12, oceanei, Eynshteyn, Eamonn, phd893 - you are sure quiet or shy.
Post something...please
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,037
  • May 25, 2016 12:04pm May 25, 2016 12:04pm
I am having a rough day.
  • #1,038
  • May 25, 2016 12:07pm May 25, 2016 12:07pm
Note to self. Don't mess with news.
  • #1,039
  • May 25, 2016 12:23pm May 25, 2016 12:23pm
Quoting wannalearn12
Note to self. Don't mess with news.
No.
Note to self: learn how to trade the news profitably.
You can do this.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,040
  • May 25, 2016 12:35pm May 25, 2016 12:35pm
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Feels good when you get the lion's share of the trade.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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