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Highest Open / Lowest Open Trade

  • #2,141
  • Jun 9, 2016 10:16am Jun 9, 2016 10:16am
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Anyone take the risk of entering at lowest H1 open when price dropped?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,142
  • Jun 9, 2016 10:16am Jun 9, 2016 10:16am
Quoting wannalearn12
Trade was triggered. {image}
So the setup was great, minus the amount of bulls. How would I know when to effectivley adjust my BE and what not. I feel as though a majority of the time waiting for +5 pips to move BE+1 results in a loss for me. Thoughts comments advice and constructive criticism wanted and appreciated
  • #2,143
  • Jun 9, 2016 10:24am Jun 9, 2016 10:24am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,144
  • Jun 9, 2016 10:31am Jun 9, 2016 10:31am
Quoting wannalearn12
{quote} So the setup was great, minus the amount of bulls. How would I know when to effectivley adjust my BE and what not. I feel as though a majority of the time waiting for +5 pips to move BE+1 results in a loss for me. Thoughts comments advice and constructive criticism wanted and appreciated
How would I know when to effectivley adjust my BE and what not.

When?
You have to decide whether or not to give the market room to dance.
And how much room to dance.

You can move to BE+1 when the trade is at +2 or more.
Another decision for you to make.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,145
  • Jun 9, 2016 10:45am Jun 9, 2016 10:45am
Stopped BE+1
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  • #2,146
  • Jun 9, 2016 10:54am Jun 9, 2016 10:54am
Quoting wannalearn12
Stopped BE+1 {image}
Late entry

Enter at the lowest H1 open price.
Enter when the BID price matches the lowest H1 open price.
BE+1 should be lowest open price + 1.

Easy to see the reason the trade got stopped out.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,147
  • Jun 9, 2016 11:02am Jun 9, 2016 11:02am
Quoting TooSlow
{quote} Late entry Enter at the lowest H1 open price. Enter when the BID price matches the lowest H1 open price. BE+1 should be lowest open price + 1. Easy to see the reason the trade got stopped out.
The bid is the current price plus spread?
  • #2,148
  • Jun 9, 2016 11:02am Jun 9, 2016 11:02am
Quoting wannalearn12
Stopped BE+1 {image}
and it kept going... XD
  • #2,149
  • Jun 9, 2016 11:11am Jun 9, 2016 11:11am
Quoting wannalearn12
{quote} The bid is the current price plus spread?
No.
Bid is the current offer to buy at.
Ask is the current offer to sell at.
Spread is Ask minus Bid.

Your buy/long entry is always at the Ask price.
They sell to you at the Ask price.

Your sell/short entry is always at the Bid price.
They buy from you at the Bid price.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,150
  • Jun 9, 2016 11:15am Jun 9, 2016 11:15am
Quoting TooSlow
{quote} No. Bid is the current offer to buy at. Ask is the current offer to sell at. Spread is Ask minus Bid. Your buy/long entry is always at the Ask price. They sell to you at the Ask price. Your sell/short entry is always at the Bid price. They buy from you at the Bid price.
Thank you for clearing that up. Just advanced a new rank with that information.
  • #2,151
  • Jun 9, 2016 11:17am Jun 9, 2016 11:17am
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How many green M15 bars in a row?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,152
  • Jun 9, 2016 11:54am Jun 9, 2016 11:54am
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Up
And down
And up
And down...

Range
and breakout
and range
and breakout.

You know the steps.
You know the dance moves.

Dance.
Dance.
Dance.

Inserted Video
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,153
  • Jun 9, 2016 11:56am Jun 9, 2016 11:56am
Did anyone grab this earlier?
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  • #2,154
  • Jun 9, 2016 12:35pm Jun 9, 2016 12:35pm
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What do we know about price action?

Up
And down
And up
And down...

Range
and breakout
and range
and breakout.

Apply this knowledge to H1 bars/candles.
Price will stay within the previous H1 candle's range (high to low), or it will breakout of the range.
No other options.

Look chart above.
Price broke out of H1[2] range.
Price within H1[1] range.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,155
  • Jun 9, 2016 12:50pm Jun 9, 2016 12:50pm
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Price broke out of H1[1] range.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,156
  • Jun 9, 2016 1:44pm Jun 9, 2016 1:44pm
Me thinks the EURUSD is setting up again.
  • #2,157
  • Jun 9, 2016 1:47pm Jun 9, 2016 1:47pm
Quoting hornet
{quote} if you want to have set up same as TS and myself get a different broker. if you have a live account already, use a demo platform for charting and then trade on the live one
Just saw this, so run a demo with a separate broker and then enter trades on my brokers website? Which broker would I demo?
  • #2,158
  • Jun 9, 2016 2:00pm Jun 9, 2016 2:00pm
Attached Image (click to enlarge)
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Price broke out of H1[1] and H2[2] range.

Do not let this be a distraction.
These are examples showing price action.
Understanding price action will allow you to follow (dance with) the market.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,159
  • Jun 9, 2016 2:19pm Jun 9, 2016 2:19pm
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Attached Image (click to enlarge)
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My intent is not to brag, show off, flaunt, etc.
Newcomers usually do not take the time to read through the thread.
It grows every day.
Some people want to see actual results to know this is real.
This is only the second time I have posted charts showing results.
It will not happen very often.

As you can see, my entries were not "perfect" according to the rules.
However, each trade was entered near the lowest H1 open.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,160
  • Jun 9, 2016 2:24pm Jun 9, 2016 2:24pm
Quoting wannalearn12
{quote} Just saw this, so run a demo with a separate broker and then enter trades on my brokers website? Which broker would I demo?
No.
No reason to do that.

DECISION MAKING QUESTIONS

What is the goal?
What can I remove or stop doing to accomplish the goal?
What can I alter, modify, change or adjust to accomplish the goal?
Is there anything essential missing?
Is there anything to add or start doing to accomplish the goal?

Those are the questions to ask periodically.

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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