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Highest Open / Lowest Open Trade

  • #1,101
  • May 26, 2016 9:39am May 26, 2016 9:39am
Quoting Habo
{quote} 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.
Thanks for your input. The wifey cannot be notified just yet
  • #1,102
  • May 26, 2016 9:40am May 26, 2016 9:40am
Quoting TooSlow
{quote} {image} Please tell me you got this?!?!
I only got +5 following the at +10 pip be +5. I'd rather follow the rules and still make pips then not listen and potentially lose harder now.
  • #1,103
  • May 26, 2016 9:42am May 26, 2016 9:42am
Getting close to that low open. USDJPY H1 Low of .552
Attached Image (click to enlarge)
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  • #1,104
  • May 26, 2016 9:46am May 26, 2016 9:46am
Quoting wannalearn12
{quote} 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.
What is trading?
Watching and waiting.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,105
  • May 26, 2016 9:54am May 26, 2016 9:54am
YES! Trailing stop hit eurusd +32 pips!
  • #1,106
  • May 26, 2016 9:57am May 26, 2016 9:57am
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Banked pips. (early)
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,107
  • May 26, 2016 10:03am May 26, 2016 10:03am
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Have you observed how many times you can trade the same pair in a session?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,108
  • May 26, 2016 10:27am May 26, 2016 10:27am
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Lift off
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,109
  • May 26, 2016 10:30am May 26, 2016 10:30am
Quoting TooSlow
{image} Lift off
Hi TooSlow,

Regarding the USDCAD trade, if one had entered on bar 2 after it had gone lower than the open, would the entry have been incorrect?

Thanks again!!
TF1
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  • #1,110
  • May 26, 2016 10:34am May 26, 2016 10:34am
Quoting trader-f1
{quote} Hi TooSlow, Regarding the USDCAD trade, if one had entered on bar 2 after it had gone lower than the open, would the entry have been incorrect? Thanks again!! TF1 {image}
Probably should have been a be +1
  • #1,111
  • May 26, 2016 10:40am May 26, 2016 10:40am
Hi, Every Body

A winner ... small but GOOD !

Thanks TooSlow

Best regards

BBF
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BigBlackfeet Always on the(forex) war path !
  • #1,112
  • May 26, 2016 10:44am May 26, 2016 10:44am
Quoting trader-f1
{quote} Hi TooSlow, Regarding the USDCAD trade, if one had entered on bar 2 after it had gone lower than the open, would the entry have been incorrect? Thanks again!! TF1 {image}
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No.
In theory, the entry should be made when price is moving in the direction of your trade.
Long entry - price moving up
Short entry - price moving down.
That being said, sometimes the entry is made when price moves opposite of your direction otherwise you do not get your entry price.
The downside being price may keep going and hit the stop.

In the chart, price is not dropping below the H1 lowest open.
When it does, the choices are:
Wait
Enter on red M1/M5
Enter on green M1 and red m5
Enter on green M1 and green M5.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,113
  • May 26, 2016 10:45am May 26, 2016 10:45am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,114
  • May 26, 2016 10:46am May 26, 2016 10:46am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,115
  • May 26, 2016 10:48am May 26, 2016 10:48am
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Showing the bid/ask on the chart
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,116
  • May 26, 2016 10:50am May 26, 2016 10:50am
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Now, you can wait for price to go up to the H1 lowest open price and buy when the ASK reach it.
The hardest part about trading this way is the waiting.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,117
  • May 26, 2016 10:51am May 26, 2016 10:51am
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Of course, you can follow on your own computer rather than wait for me to walk you through it.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,118
  • May 26, 2016 10:52am May 26, 2016 10:52am
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The other day I posted about counting candles.
Do you see the count?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,119
  • May 26, 2016 10:56am May 26, 2016 10:56am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,120
  • May 26, 2016 10:59am May 26, 2016 10:59am
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I mentioned considering M15 highest/lowest opens.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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TooSlow