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Highest Open / Lowest Open Trade

  • #1,421
  • May 31, 2016 4:12pm May 31, 2016 4:12pm
Quoting militarymonk
{quote} @TooSlow I think cult sounds more appropriate, I had witnessed several followers who had donated their life income to the broker in hope of generating wealth by themselves. However, I do agree trading must be categorize as a Religion , at this moment I am thinking of creating an award for fellow followers who had contributed a lot to this cult/religion.
Yes.
Cult.
Some followers are rabid.
Please do not let this thread become a cult!
I do not want to be considered a cult leader.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,422
  • May 31, 2016 4:16pm May 31, 2016 4:16pm
Quoting TooSlow
ATTENTION My private message box is filling up. I can not send anymore private messages today. My quota is filled. There is no reason not to post your questions on this thread. There is nothing I will do via private message that I will not do on this thread. There is nothing you will receive from me via private message that you can not receive on this thread. There is nothing that I can send to you - NOTHING. Please limit your private messages to me. Thank you.
Seriously, thank you for this thread. I did very well today. Tomorrow shall be another adventure.
  • #1,423
  • May 31, 2016 4:21pm May 31, 2016 4:21pm
Quoting TooSlow
{quote} Yes. Cult. Some followers are rabid. Please do not let this thread become a cult! I do not want to be considered a cult leader.
@TooSlow no worries , without any realization you will become a shepherd in many ways. Just remember, when you give without expectation it will come back 10 fold.

Have a great evening Brother.

Congratulation on starting a cult , all hail the great founder!

Did you hear that? It wasn't me.
militarymonk
  • #1,424
  • May 31, 2016 4:23pm May 31, 2016 4:23pm
Quoting militarymonk
{quote} @TooSlow no worries , without any realization you will become a shepherd in many ways. Just remember, when you give without expectation it will come back 10 fold. Have a great evening Brother. Congratulation on starting a cult , all hail the great founder! Did you hear that? It wasn't me.
You are so funny
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,425
  • May 31, 2016 4:25pm May 31, 2016 4:25pm
Quoting wannalearn12
{quote} Seriously, thank you for this thread. I did very well today. Tomorrow shall be another adventure.
Thank yourself.
You made the choice to read.
You made the choice to apply what you read to your trading.
You did all of the work.
You get the credit and the pips.

Well done.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,426
  • May 31, 2016 4:28pm May 31, 2016 4:28pm
This is a 5m of the EURUSD. Red Line is lowest open of the day. Wait for the push through and then green bull candle reversal on the buy. Will wait.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM5.png Size: 20 KB
  • #1,427
  • May 31, 2016 4:39pm May 31, 2016 4:39pm
Great thread TooSlow. Almost finishing to read it. Will keep following and trying to get on board.
  • #1,428
  • May 31, 2016 4:43pm May 31, 2016 4:43pm
Quoting wannalearn12
This is a 5m of the EURUSD. Red Line is lowest open of the day. Wait for the push through and then green bull candle reversal on the buy. Will wait. {image}
Or is it a new day and that does not apply anymore?
  • #1,429
  • May 31, 2016 4:52pm May 31, 2016 4:52pm
Quoting wannalearn12
{quote} Or is it a new day and that does not apply anymore?
What happened yesterday?
Would the trade have been profitable?

Observe what happens today.
Then you will have your answer.


"Successful people ask better questions, and as a result, they get better answers." - Tony Robbins

Socratic method is named after the classical Greek philosopher Socrates. It is a form of inquiry and discussion between individuals, based on asking and answering questions to stimulate critical thinking and to illuminate ideas.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,430
  • May 31, 2016 4:55pm May 31, 2016 4:55pm
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow.png Size: 44 KB


Did anyone one count the number of red or green candles in a row today?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,431
  • May 31, 2016 5:06pm May 31, 2016 5:06pm
Can apply to trading: http://jamesclear.com/3-stages-of-failure
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,432
  • May 31, 2016 5:27pm May 31, 2016 5:27pm
Quoting TooSlow
{image} HOW TO BEND THE RULES Look at bar[3] What happened? Price dropped below the lowest open and crossed back up. Look at bar[4] What happened? Price dropped below the lowest open and crossed back up. After prices stops going down, price starts going up.
TooSlow I have a question regarding the chart on post #1407, the GBPUSD 15 min chart: You have a shorter blue line on bar 3 that states the low open "H1[0] Open Low"

I assume that the beginning of that blue line is also the beginning of the new hour?

Then going backwards the open of bar 7 (- 4x 15min) would have been the low open of the previous hour.

You were talking about bending the rules in that post and I would not have dared to enter with a long after that big breakout and the price so far away from yesterdays low. But of course a pullback is very probable. But the pullback did not happen on bar 6.

Thanks for answering our questions so diligently....
  • #1,433
  • Edited 9:47pm May 31, 2016 5:38pm | Edited 9:47pm
Quoting wannalearn12
{quote} Or is it a new day and that does not apply anymore?
A new day.
Price will go up and down.
And up and down.
There will be new daily highs.
There will be new daily lows.
Daily High - Daily Low = Daily Range.

Many of you are familiar with average daily range.
Some may know average true range.
They are useless.

What is useful is knowing the minimum daily range and the most likely daily range.
The average daily range of eurusd for the last 24 days is 71 and a range between 70 - 79 occurred 8% of the time ( 2 times ).
The most likely daily range of the eurusd is between 40 - 59 and occurred 41% of the time ( 10 times ).
There was only 1 time the range was less than 40.
There were 9 times where range was over 90.
There were 2 times between 60 - 69

Look for eurusd to keep making new highs and new lows as long as the range is less than 40.
After the range reaches 60, there is a good chance there may be a reversal.

Does that help you, wannalearn12?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,434
  • May 31, 2016 5:42pm May 31, 2016 5:42pm
Quoting Habo
{quote} TooSlow I have a question regarding the chart on post #1407, the GBPUSD 15 min chart: You have a shorter blue line on bar 3 that states the low open "H1[0] Open Low" I assume that the beginning of that blue line is also the beginning of the new hour? Then going backwards the open of bar 7 (- 4x 15min) would have been the low open of the previous hour. You were talking about bending the rules in that post and I would not have dared to enter with a long after that big breakout and the price so far away from yesterdays low. But of course a...
I assume that the beginning of that blue line is also the beginning of the new hour?

Yes.

Then going backwards the open of bar 7 (- 4x 15min) would have been the low open of the previous hour. You were talking about bending the rules in that post and I would not have dared to enter with a long after that big breakout and the price so far away from yesterdays low.

That is why you move the stop to BE+1 as soon as possible.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,435
  • May 31, 2016 5:58pm May 31, 2016 5:58pm
STOP LOSS article: http://www.tradeciety.com/stop-loss-...forex-trading/
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,436
  • May 31, 2016 6:00pm May 31, 2016 6:00pm
Some people are voting NO meaning they do not find this method simple.
However, they are not providing any feedback.
Feedback is needed to improve the message.
Thank you.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,437
  • May 31, 2016 6:50pm May 31, 2016 6:50pm
Quoting TooSlow
{quote} A new day. Price will go up and down. And up and down. There will be new daily highs. There will be new daily lows. High - Low = daily range. Many of you are familiar with average daily range. Some may know average true range. They are useless. What is useful is knowing the minimum daily range and the most likely daily range. The average daily range of eurusd for the last 24 days is 71 and a range between 70 - 79 occurred 8% of the time ( 2 times ). The most likely daily range of the eurusd is between 40 - 59 and occurred 41% of the time...
I understand what you have said, I think. I am not sure what the range means though, is it the distance between the low lows and high highs?
  • #1,438
  • May 31, 2016 9:47pm May 31, 2016 9:47pm
Quoting wannalearn12
{quote} I understand what you have said, I think. I am not sure what the range means though, is it the distance between the low lows and high highs?
Yes, the distance.

Daily High - Daily Low = Daily Range.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,439
  • Jun 1, 2016 12:36am Jun 1, 2016 12:36am
does this method work with frankfurt/london opening times?
  • #1,440
  • Jun 1, 2016 6:57am Jun 1, 2016 6:57am
Quoting natnimrey
does this method work with frankfurt/london opening times?
Yes.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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