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Highest Open / Lowest Open Trade

  • #1,781
  • Jun 5, 2016 6:48pm Jun 5, 2016 6:48pm
These two Bruce Lee quotes sum it all up when it comes to trading.

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,782
  • Jun 5, 2016 7:03pm Jun 5, 2016 7:03pm
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Who wants this dance?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,783
  • Jun 5, 2016 7:04pm Jun 5, 2016 7:04pm
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Who wants this dance?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,784
  • Jun 5, 2016 7:09pm Jun 5, 2016 7:09pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,785
  • Jun 5, 2016 7:16pm Jun 5, 2016 7:16pm
i have few question for the boss here.
but before im asking, please correct me if im wrong... just to make sure if im on the right path.
after reading the rules, this is the step i have to make..
1. open H1.. make a line on highest open and lowest open. (lets assume now the price is at highest open)
2. open M15 wait the price goes up, (assume it does)
3. now wait the price goes down and close below the H1 highest open line. (assume it does)
4. Open sell. Stop loss at highest price.

if there are more step i have make, please add/fix it.. thx boss..
  • #1,786
  • Jun 5, 2016 7:29pm Jun 5, 2016 7:29pm
Quoting Rotipork
i have few question for the boss here. but before im asking, please correct me if im wrong... just to make sure if im on the right path. after reading the rules, this is the step i have to make.. 1. open H1.. make a line on highest open and lowest open. (lets assume now the price is at highest open) 2. open M15 wait the price goes up, (assume it does) 3. now wait the price goes down and close below the H1 highest open line. (assume it does) 4. Open sell. Stop loss at highest price. if there are more step i have make, please add/fix it.. thx boss.....

1) Yes.
2) Yes.
3) NO. Never. Entry at the line.
4a) Open sell - No
4b) Stop loss - Yes.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,787
  • Edited 8:04pm Jun 5, 2016 7:49pm | Edited 8:04pm
Quoting TooSlow
{quote} 1) Yes. 2) Yes. 3) NO. Never. Entry at the line. 4a) Open sell - No 4b) Stop loss - Yes.
that is a fast respond. thx for that..
2) Yes.
is there any specific how many pips it has to go up first? or wait until it close and make 1 candle bull?

3) NO. Never. Entry at the line.
so i entry when the price going down touching the line without waiting M15 to close? sell short?

Edit: adding question on number 2
  • #1,788
  • Jun 5, 2016 8:02pm Jun 5, 2016 8:02pm
[quote=Rotipork;8963712]{quote} that is a fast respond. thx for that.. 3) NO. Never. Entry at the line. so i entry when the price going down touching the line without waiting M15 to close? sell short?[/quote]

Yes.

HIGHEST OPEN / LOWEST OPEN TRADE

Place a line at the highest H1 open and lowest H1 open for the current day.

Sell short at the highest H1 open after price goes up through it and comes back down.

Buy at the lowest H1 open after price goes down through it and comes back up.


Stop loss is the current daily high or current daily low.
Adjust your position size accordingly.

Take profit by moving stop.
When trade is +5 or more, move stop to BE+1.
When trade is +10 or more, move to to BE+5, or switch to trailing stop.
Optional exit is to exit part of trade position with a profit to bank it, move stop to BE+1 and watch the market.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,789
  • Jun 5, 2016 8:03pm Jun 5, 2016 8:03pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,790
  • Jun 5, 2016 8:10pm Jun 5, 2016 8:10pm
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M5 opened below the lowest H1 open.
M5 went up to the lowest H1 open.
ENTER WHEN ASK IS AT THE LINE.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,791
  • Jun 5, 2016 8:12pm Jun 5, 2016 8:12pm
Who traded got BE+1 on both, fine with me.
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  • #1,792
  • Jun 5, 2016 8:13pm Jun 5, 2016 8:13pm
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BE+1 stop would have been taken out or you are still in the trade.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,793
  • Jun 5, 2016 8:23pm Jun 5, 2016 8:23pm
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Stop would have been hit.
So what?
Will get it back and more next time.
Forget about this trade.
It is over.
Look for next opportunity.


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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,794
  • Jun 5, 2016 8:32pm Jun 5, 2016 8:32pm
Quoting wannalearn12
Who traded got BE+1 on both, fine with me. {image} {image}
Check your PMs.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,795
  • Jun 5, 2016 8:42pm Jun 5, 2016 8:42pm
Quoting TooSlow
{image} Stop would have been hit. So what? Will get it back and more next time. Forget about this trade. It is over. Look for next opportunity. {image}
very clear sir.. thank you very much.
so all i need after making the line is waiting at M5 to make 1 candle bull (if it is at highest) or 1 candle bear (if it is at lowest), then make an entry when it return to the line?

"look for next opportunity" means it comes when the price making new HIGHEST OPEN or LOWEST OPEN?

I apologize in advance if i am asking too many question as i am interested to try this method.
  • #1,796
  • Jun 5, 2016 8:50pm Jun 5, 2016 8:50pm
How about it? Anyone Bank these?
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  • #1,797
  • Jun 5, 2016 8:55pm Jun 5, 2016 8:55pm
Possibly setting up next hour.
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  • #1,798
  • Jun 5, 2016 9:01pm Jun 5, 2016 9:01pm
Quoting wannalearn12
Possibly setting up next hour. {image}
Anyone take the trade?
  • #1,799
  • Jun 5, 2016 9:20pm Jun 5, 2016 9:20pm
B-E-A-UTIFUL.
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  • #1,800
  • Jun 5, 2016 9:25pm Jun 5, 2016 9:25pm
Quoting wannalearn12
B-E-A-UTIFUL. {image}
Check your PMs.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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