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Highest Open / Lowest Open Trade

  • #1,981
  • Jun 7, 2016 7:49am Jun 7, 2016 7:49am
Waiting for the 5m to open in between the low of the day and the lowest open. Then I will wait for a bull bar entry crossing the open. Make sure to count your bars. 5 bulls to punch the open may reverse. wait for the best entry.
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  • #1,982
  • Jun 7, 2016 7:58am Jun 7, 2016 7:58am
AUDUSD
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  • #1,983
  • Jun 7, 2016 7:59am Jun 7, 2016 7:59am
Hey Too Slow, when the price is +5 pips off of the open do you move your stop or do you move it +5 pips profit? for the spread? Because that usually would mean move stop Be+1 at +3 from ask.
  • #1,984
  • Jun 7, 2016 8:04am Jun 7, 2016 8:04am
usd cad
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  • #1,985
  • Jun 7, 2016 8:07am Jun 7, 2016 8:07am
eurjpy
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  • #1,986
  • Jun 7, 2016 8:15am Jun 7, 2016 8:15am
Quoting hornet
Here's one on my favourite instrument but for some reason the indie does not work properly on this one. Anyway, orange dotted line is OL red vertical is the open of the candle that set OL {image}
Is the entry at the cross on that chart? Like a an open reversal?
  • #1,987
  • Jun 7, 2016 8:19am Jun 7, 2016 8:19am
Entry is where the arrow is. Big white candle going up when it crosses the orange dotted.
164.88

The indie does not work on this because Open Time is 7.00 (same as DAX).
is there an option to custom set the Open time?
The quality of your life is brought about by the quality of your thinking.
  • #1,988
  • Jun 7, 2016 8:22am Jun 7, 2016 8:22am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,989
  • Jun 7, 2016 8:23am Jun 7, 2016 8:23am
Quoting hornet
{quote} today is the 7th of june and price is 1.5250 this is the one you're looking for {image}
How are you calculating your stop loss level?
Are you keeping your position size constant?
Thank you.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,990
  • Jun 7, 2016 8:25am Jun 7, 2016 8:25am
Quoting j11
TS: Sorry if added something; not my intention to go against your simple and well explained basics. Just wanted something to filter the pairs so that I could concentrate on the ones relevant at present time. NOTE TO SELF :: Develop PATIENCE and stick to 1 pair first. (but don't have screen time for that) J.
j11:

The questions posed were for understanding of your decision making process.
Not criticism.
Thank you.

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,991
  • Jun 7, 2016 8:28am Jun 7, 2016 8:28am
Quoting TooSlow
{quote} How are you calculating your stop loss level? Are you keeping your position size constant? Thank you.
More or less 10 pips/ticks, size is always 1lot.
Still only practicing for now, to get the flow of it. But I presume I will more or less use these parameters.

What I noticed is the opportunity to get a lot of trades, with good moves pretty quickly. If it sort of stalls for more than 10/15 minutes might as well close it and wait for better opportunity. TP are initially set at where it makes sense on H1 chart. Then the same concept applies, if it stalls and doesn't have legs, I take what is there.
The quality of your life is brought about by the quality of your thinking.
  • #1,992
  • Jun 7, 2016 8:31am Jun 7, 2016 8:31am
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  • #1,993
  • Jun 7, 2016 8:32am Jun 7, 2016 8:32am
Quoting wannalearn12
Hey Too Slow, when the price is +5 pips off of the open do you move your stop or do you move it +5 pips profit? for the spread? Because that usually would mean move stop Be+1 at +3 from ask.
Adjust for market conditions.
Always protect the money.
Move stop to BE+1 as soon as possible.
However, give price time to move and room to breathe.

You are dancing with the market.
Market always leads.
Follow her lead.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,994
  • Jun 7, 2016 8:33am Jun 7, 2016 8:33am
Quoting TooSlow
{quote} Adjust for market conditions. Always protect the money. Move stop to BE+1 as soon as possible. However, give price time to move and room to breathe. You are dancing with the market. Market always leads. Follow her lead.
Thank you.
  • #1,995
  • Jun 7, 2016 8:36am Jun 7, 2016 8:36am
Those darned jpy pairs.
  • #1,996
  • Jun 7, 2016 8:40am Jun 7, 2016 8:40am
Studying my loss, I see where I went wrong. There were FIVE bulls in a row leading to a large bear. I mistakenly bought at the arrow. What I failed to do was A) check the other jpy pairs and see how they were doing, and B) not buy into the beginning of a downtrend. I see now lesson learned. The jpy pairs, will make new low opens at the next hour and then we can play again.
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  • #1,997
  • Jun 7, 2016 8:44am Jun 7, 2016 8:44am
Quoting wannalearn12
Studying my loss, I see where I went wrong. There were FIVE bulls in a row leading to a large bear. I mistakenly bought at the arrow. What I failed to do was A) check the other jpy pairs and see how they were doing, and B) not buy into the beginning of a downtrend. I see now lesson learned. The jpy pairs, will make new low opens at the next hour and then we can play again. {image}
What line were you using?
The quality of your life is brought about by the quality of your thinking.
  • #1,998
  • Jun 7, 2016 8:44am Jun 7, 2016 8:44am
Too Slow, or anyone, I've noticed that all jpy pairs(ect) tend to move together. If a setup is identified on one pair will the other pairs usually reflect? Even if they are not perfect entries, but within range of the low open (+ or - 1-2 pips), would they be taken as well?
  • #1,999
  • Jun 7, 2016 8:45am Jun 7, 2016 8:45am
Quoting hornet
{quote} What line were you using?
Well crap.
  • #2,000
  • Jun 7, 2016 8:49am Jun 7, 2016 8:49am
Quoting wannalearn12
Too Slow, or anyone, I've noticed that all jpy pairs(ect) tend to move together. If a setup is identified on one pair will the other pairs usually reflect? Even if they are not perfect entries, but within range of the low open (+ or - 1-2 pips), would they be taken as well?
say that like now EURJPY and USDJPY are both close to the lows and possible entry on both. Why not take a look at EURUSD and then decide which one you prefer to take, which one has more opportunity to move faster into profit? Where is EURUSD going?
The quality of your life is brought about by the quality of your thinking.
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