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Highest Open / Lowest Open Trade

  • #1,741
  • Jun 4, 2016 11:01am Jun 4, 2016 11:01am
Hi TooSlow,

I was just reviewing some of the trades I took yesterday to identify possible improvements.
In order to get rid of my "trigger happy" behavior, I'm only taking entries after there's a 15min close between OPEN High/Low and EXTREME.
Looking at EURUSD yesterday, two very bullish candles formed after NFP news and then we had three Dojis.

- No entry on the first doji --> breakout
- On the second Doji I entered on the red arrow but price never moved enough in my direction to move the stop to BE+1.

I understand losses are a part of trading but just wanted to check if anything was wrong with my thought process.

Thanks and have a nice weekend!!!!
TF1
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  • #1,742
  • Jun 4, 2016 1:24pm Jun 4, 2016 1:24pm
Great Thread TS

seems like a refinement of Avery's rat strategy to me (i've been a big fan of his principles since ever).. tell him he should bring up some new trading vids again

there's indeed sure pips to be nipped along rolling extremes of the day

i've decided to build an EA; it won't be a full auto-trader, we can't simply code the broader context providing the grounds for discretion which is essential for this method imo (especially entries).. BUT it will alert upon opportunities (serving as a crutch for our patience), and I guess the trade management part can be automated to great extent.
MarginTrader All Time Return: na
  • #1,743
  • Jun 4, 2016 2:25pm Jun 4, 2016 2:25pm
Quoting trader-f1
Hi TooSlow, I was just reviewing some of the trades I took yesterday to identify possible improvements. In order to get rid of my "trigger happy" behavior, I'm only taking entries after there's a 15min close between OPEN High/Low and EXTREME. Looking at EURUSD yesterday, two very bullish candles formed after NFP news and then we had three Dojis. - No entry on the first doji --> breakout - On the second Doji I entered on the red arrow but price never moved enough in my direction to move the stop to BE+1. I understand losses are a part of trading...
Nothing wrong.
NFP caused strong moves.
Trade with the market or get out of its way.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,744
  • Jun 4, 2016 2:31pm Jun 4, 2016 2:31pm
Quoting MaryJane
Great Thread TS seems like a refinement of Avery's rat strategy to me (i've been a big fan of his principles since ever).. tell him he should bring up some new trading vids again there's indeed sure pips to be nipped along rolling extremes of the day i've decided to build an EA; it won't be a full auto-trader, we can't simply code the broader context providing the grounds for discretion which is essential for this method imo (especially entries).. BUT it will alert upon opportunities (serving as a crutch for our patience), and I...
He's the one who I learned HOLO from and a lot more.
Most of the time the trades occur within the RAT ZONE. (Google if you want to learn more).
And it follows the H1 candle color rule of thumb.

EA criteria are posted earlier in this thread.

Why don't you tell him to make more trading videos?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,745
  • Jun 4, 2016 4:38pm Jun 4, 2016 4:38pm
Some comment on TRO
http://www.fxacademy.com/forum/tradi...ading-strategy
But.............always do your own research.
every Saint has a past. Every Sinner has a Future
  • #1,746
  • Jun 4, 2016 5:28pm Jun 4, 2016 5:28pm
Hi TooSlow,

I love the simplicity and concise rules, great explanations as well.
  • #1,747
  • Jun 4, 2016 6:19pm Jun 4, 2016 6:19pm
Quoting turnip15
Some comment on TRO http://www.fxacademy.com/forum/tradi...ading-strategy But.............always do your own research.
Everyone seems to have opinions.
Some base opinions on evidence, experience and experimentation.
Some just give opinions for the sake of putting their two cents in.

The RAT method has been around for years.
It has stood the test of time.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,748
  • Jun 4, 2016 6:49pm Jun 4, 2016 6:49pm
I have several pattern conform to this transaction.
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Money management is way to successful !
  • #1,749
  • Jun 4, 2016 8:50pm Jun 4, 2016 8:50pm
Quoting Umi
I have several pattern conform to this transaction. {image} {image} {image} {image} {image} {image} {image}
Hi Umi, welcome to the thread.
Please take the time and read through the posts.
This method requires no analysis.
But, of course, each trader must find their own way.
Thank you for posting.

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,750
  • Jun 4, 2016 9:02pm Jun 4, 2016 9:02pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,751
  • Jun 4, 2016 9:04pm Jun 4, 2016 9:04pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,752
  • Jun 4, 2016 9:25pm Jun 4, 2016 9:25pm
Inserted Video


Does the market distract you?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,753
  • Jun 4, 2016 10:00pm Jun 4, 2016 10:00pm
WHERE ARE YOU?

As traders, we are all on the same path.
Some are taking their first steps..
Some are a little further along than others.
Some have reached their goal.

Where are you?
Do you know where you are on the path?
Do you know what you should be working on, right now?
Are you working on it?
Are you focused or distracted by SHINY OBJECTS?

Shiny Object Syndrome (Objectivius Shinium Syndromus) is defined as the attraction to objects that exhibit a glassy, polished, gleaming or otherwise shiny appearance. Something as simple as a reflection in your peripheral vision may easily distract your attention.

There are so many threads to choose from.
You are here now.
How long will you stay?
Will you stay long enough to master the lesson here?
Will the latest indicator, method, or system that promises riches grab your attention?

Look, over there, someone wrote an EA.
Better download quick and load it.
So and so says their new indicator will slaughter the market.
Need to download it quick.
Wow, there's a new document on trading.
Better download and read it soon.

Are you a beginner?
What's your experience?
Do you really believe that you can take something from here and something from there and combine it into a money maker?
Please.
Be serious.

Your challenge is to stay put.
Can you do it?
Will you isolate yourself from all distractions and temptations?

Trade this method 10 times.
What are your results?
Did you trade properly?
What did you learn?

Trade this method 100 times.
What are your results?
Are you making fewer mistakes?
Is your timing improving?

Trade this method 1,000 times.
What are your results?
How profitable are you?
Do you feel like a trader?

Trade this method 10,000 times.
What are your results?
Have you mastered this method?

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,754
  • Jun 5, 2016 12:04am Jun 5, 2016 12:04am
Quoting TooSlow
WHERE ARE YOU? As traders, we are all on the same path. Some are taking their first steps.. Some are a little further along than others. Some have reached their goal. .......
Hi tooslow, good inspiration. Thank you for paying forward.

Sometimes, there is a small distance between the lowest open and the daily open, and the M15 bar open between this small distance.
The sell stop at lowest open, can easily be trigger in less than one, or two pip, due to this small distance.

What do you think of such situation ?
  • #1,755
  • Jun 5, 2016 12:24am Jun 5, 2016 12:24am
Quoting tradebuddy
{quote} Hi tooslow, good inspiration. Thank you for paying forward. Sometimes, there is a small distance between the lowest open and the daily open, and the M15 bar open between this small distance. The sell stop at lowest open, can easily be trigger in less than one, or two pip, due to this small distance. What do you think of such situation ?
When unsure, wait and watch.
There will always be another trade.

When something is not the right fit, do not force it.
Take the easy trades.
Pass on the rest.
How many trades do you need each day?
One?
Two?
Five?
Ten?
More?

Trading is a game of EXTREME PATIENCE.
How many days in a row can you sit and wait for your trade?

Fortunately, this method gives you at least one chance most of the time.
But you still have to wait for it.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,756
  • Jun 5, 2016 12:42am Jun 5, 2016 12:42am
Quoting TooSlow
{quote} When unsure, wait and watch. There will always be another trade. When something is not the right fit, do not force it. Take the easy trades. Pass on the rest. How many trades do you need each day? One? Two? Five? Ten? More? Trading is a game of EXTREME PATIENCE. How many days in a row can you sit and wait for your trade? Fortunately, this method gives you at least one chance most of the time. But you still have to wait for it.
Yup, the market will always be there.
Wise decision to take the easy and clear trades that one is confident and right fit. If it lose, no regret due to the best decision made.
  • #1,757
  • Jun 5, 2016 7:09am Jun 5, 2016 7:09am
Quoting TooSlow
{quote} Hi Umi, welcome to the thread. Please take the time and read through the posts. This method requires no analysis. But, of course, each trader must find their own way. Thank you for posting. {image}
Hi TooSlow,
I just wanted to send the pattern which, according to my experience in transaction time ago. Your method will better with candles and pattern. That's I think but I will try your method. I wish you a lot of green pips.
Money management is way to successful !
  • #1,758
  • Jun 5, 2016 10:25am Jun 5, 2016 10:25am
WAITING - DO I HAVE IT ALL WRONG?


In trading, we are taught to wait.
What is the reason to wait?
The market is in motion more often than not.
Should we not go with the flow?

As the market goes up.
We see it go up.
Rather then go along for the ride, we are waiting for a setup or signal to tell us the market has stopped going up.
So we can enter a short position.

As the market goes down.
We see it go down.
Rather then go along for the ride, we are waiting for a setup or signal to tell us the market has stopped going down.
So we can enter a long position.

We are taught to not trust our observations.
Instead, we are taught to trust something outside of us.

Many of you who traded Friday observed the market runaway.
Instead of buying, you waited to short.
Instead of selling, you waited to buy.
As Dr. Phil would say, "How'd that work for you?"

Does fear hold you back?
The fear of "being wrong"?
The fear the market will stop and reverse the moment after enter your position?

The market never rewards inaction.
The market rewards action, sometimes.
That is the nature of the market.

Read post #1: http://www.forexfactory.com/showthread.php?t=416131

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,759
  • Jun 5, 2016 10:33am Jun 5, 2016 10:33am
In another thread, I equated my method to fishing:

Not really a strategy, just a good fishing hole.
Where is the hole?
When should I go there to fish?
What bait should I use?
What's the catch limit?

Give a man a fish...

Time, place, direction
At this time, at this place (price), a trade is entered in this direction (short/long).

Time is never wrong.
It is just time.

Place (price) is never wrong.
It is just price.

Direction, on the other hand, is what matters.
Get it "right", profit.
Get it "wrong", loss.


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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,760
  • Jun 5, 2016 11:20am Jun 5, 2016 11:20am
[highlight=rgba(255, 255, 255, 0)]hi，tooslow。thank you very much。i like your trading style so much。but in the thread，you did not mention about moneymanagement。can you talk about it？[/highlight]
[highlight=rgba(255, 255, 255, 0)]i think your method maybe leads to a high win ratio and a low r:r.and there will be a potential risk to total account capital.[/highlight]
[highlight=rgba(255, 255, 255, 0)]so what do you think about it?[/highlight]
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