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Highest Open / Lowest Open Trade

  • #1,081
  • May 26, 2016 8:42am May 26, 2016 8:42am
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Lift off
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,082
  • May 26, 2016 8:44am May 26, 2016 8:44am
Quoting TooSlow
{quote} You are choosing to be impatient. FOMO has got the best of you. Are you following your rules? If not, why not? For the rest of the week, only take "perfect" entries.
Okay, I am watching Eur/usd Nzd/usd Cad/usd and Aud/usd they are all making good moves.
  • #1,083
  • May 26, 2016 8:48am May 26, 2016 8:48am
Another heckler stopped by.
To be expected.
As this thread gain views, some people will take issue.
Those who bring disharmony will be ignored.
Sorry for the disruption.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,084
  • May 26, 2016 8:49am May 26, 2016 8:49am
Liking the potential set up on NZDUSD. If it keeps moving up towards the shaded (resistance area)
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Everything will be okay in the end. If it's not okay, it's not the end.
  • #1,085
  • May 26, 2016 8:50am May 26, 2016 8:50am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,086
  • May 26, 2016 8:54am May 26, 2016 8:54am
Quoting wannalearn12
{quote} Okay, I am watching Eur/usd Nzd/usd Cad/usd and Aud/usd they are all making good moves.
This is meant in the spirit of helping and I mean no disrespect.
You are watching too many pairs.
You are in learning mode.
Pick one pair.
And focus all of your attention on it.
Wait for the setup to appear.
Wait for the price to get to your entry.
Enter without hesitation.
Set your stop.
Move your stop when the time comes.
Bank pips when appropriate.

What pair do you pick?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,087
  • May 26, 2016 8:56am May 26, 2016 8:56am
Quoting TooSlow
{quote} This is meant in the spirit of helping and I mean no disrespect. You are watching too many pairs. You are in learning mode. Pick one pair. And focus all of your attention on it. Wait for the setup to appear. Wait for the price to get to your entry. Enter without hesitation. Set your stop. Move your stop when the time comes. Bank pips when appropriate. What pair do you pick?
I am going to watch the eur usd. Should I be trading with .01 positions as well??
  • #1,088
  • May 26, 2016 8:58am May 26, 2016 8:58am
Quoting wannalearn12
{quote} I am going to watch the eur usd. Should I be trading with .01 positions as well??
Trade within your comfort level.
.01, .10, 1.00, 10.00, etc.
You decide.
You already know the answer.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,089
  • May 26, 2016 8:59am May 26, 2016 8:59am
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Are you in?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,090
  • May 26, 2016 9:00am May 26, 2016 9:00am
Quoting TooSlow
{image} Are you in?
I got stopped out be +5
  • #1,091
  • May 26, 2016 9:12am May 26, 2016 9:12am
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Lift off.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,092
  • May 26, 2016 9:21am May 26, 2016 9:21am
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BE+1 can be your best friend.
There is always another opportunity.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,093
  • May 26, 2016 9:23am May 26, 2016 9:23am
Quoting wannalearn12
{quote} I am going to watch the eur usd. Should I be trading with .01 positions as well??
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Please tell me you got this?!?!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,094
  • May 26, 2016 9:31am May 26, 2016 9:31am
As I am practicing this method I am learning to become more selective. NZDUSD short trade just got stopped out at BE+1.

For now I am only taking trades if price is within the prev. day's highs and lows. (blue lines). This limitation leads to less trades which is a good thing for me. Also focusing mainly on major pairs in the active NY session. This makes things simple.
I am not comfortable trading the retrace from the break-outs yet.
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  • #1,095
  • May 26, 2016 9:32am May 26, 2016 9:32am
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Lift off
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,096
  • May 26, 2016 9:35am May 26, 2016 9:35am
Who banked those nzdusd pips??
  • #1,097
  • May 26, 2016 9:36am May 26, 2016 9:36am
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Banked pips at daily open
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,098
  • May 26, 2016 9:36am May 26, 2016 9:36am
Quoting wannalearn12
Who banked those nzdusd pips??
You are supposed to be focused on eurusd!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,099
  • May 26, 2016 9:37am May 26, 2016 9:37am
Quoting TooSlow
{quote} You are supposed to be focused on eurusd!
I am not trading!! I am just watching. Eur usd is out of its setup so I am sitting on my hands and listening to the wiser.
  • #1,100
  • May 26, 2016 9:38am May 26, 2016 9:38am
Quoting wannalearn12
{quote} I am going to watch the eur usd. Should I be trading with .01 positions as well??
Nobody can tell you your trading size, except maybe your wife. ;-)

I trade 0.02 for now so I can close half the position when in decent profit. Unless your broker allows smaller then 0.01 lots but I doubt that.
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