Price ranging.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
Highest Open / Lowest Open Trade
- #2,281
- Jun 14, 2016 2:52pm Jun 14, 2016 2:52pm
- Joined Mar 2012 | Status: Trader | 14,334 Posts
Price ranging.
- #2,282
- Jun 14, 2016 3:02pm Jun 14, 2016 3:02pm
- Joined Mar 2012 | Status: Trader | 14,334 Posts
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #2,283
- Jun 14, 2016 4:01pm Jun 14, 2016 4:01pm
- Joined Mar 2012 | Status: Trader | 14,334 Posts
A few have inquired about longer time frames.
The chart above is daily.
The highest/lowest daily open for the past 10 days.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
{quote} Not a good time to trade gbp pairs due to brexit, IMHO. London and NY sessions provide many chances. Stop loss should be past the daily high/daily low. Adjust position size to keep trade risk constant. It pleases me to see you are making this "your own". Well done.{image}
I will stop trading all GBP pairs tomorrow as my broker will stop offering any type of meaningful margin.
Will experiment with the stop losses some more as I go forward...
- #2,286
- Jun 15, 2016 6:39am Jun 15, 2016 6:39am
- Joined Jan 2015 | Status: Never underestimate value of an pip | 4,677 Posts
Hi to slow i have an idea and i like to ask you for a opinion the question is next: Your system is good but i thing that what is missing is the HH or LL of that day. So if i use the idicator wich shows daily range of pips for that day for the pair let's say here is AUD/USD so after nr of pips is fullfilled i have clear picture nou as you see in pic? What do you think about these, thanx and all the best for you bro 
- #2,287
- Jun 15, 2016 7:48am Jun 15, 2016 7:48am
- Joined Mar 2012 | Status: Trader | 14,334 Posts
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #2,288
- Jun 15, 2016 7:50am Jun 15, 2016 7:50am
- Joined Mar 2012 | Status: Trader | 14,334 Posts
Hi to slow i have an idea and i like to ask you for a opinion the question is next: Your system is good but i thing that what is missing is the HH or LL of that day. So if i use the idicator wich shows daily range of pips for that day for the pair let's say here is AUD/USD so after nr of pips is fullfilled i have clear picture nou as you see in pic? What do you think about these, thanx and all the best for you bro
Unless you mean something else by HH and LL.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #2,289
- Jun 15, 2016 7:51am Jun 15, 2016 7:51am
- Joined Jan 2015 | Status: Never underestimate value of an pip | 4,677 Posts
- #2,290
- Jun 15, 2016 8:09am Jun 15, 2016 8:09am
- Joined Mar 2012 | Status: Trader | 14,334 Posts
Egxactly daily h and daily L was my point?
D1[0] High is the daily high
D1[1] High is yesterday's high
D1[0] Low is the daily low
D1[1] Low is yesterday's low
Can you see those lines marked on the chart?
Maybe there is a misunderstanding.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #2,291
- Jun 15, 2016 8:14am Jun 15, 2016 8:14am
- Joined Jan 2015 | Status: Never underestimate value of an pip | 4,677 Posts
Yes i do brother we are in same mindeset just from differend angles 
thanc you 
thanc you - #2,292
- Jun 15, 2016 8:16am Jun 15, 2016 8:16am
- Joined Mar 2012 | Status: Trader | 14,334 Posts
Angles?
Please elaborate.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #2,293
- Jun 15, 2016 8:20am Jun 15, 2016 8:20am
- Joined Jan 2015 | Status: Never underestimate value of an pip | 4,677 Posts
- #2,294
- Jun 15, 2016 9:09am Jun 15, 2016 9:09am
- Joined Mar 2012 | Status: Trader | 14,334 Posts
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #2,295
- Jun 15, 2016 9:18am Jun 15, 2016 9:18am
- Joined Mar 2012 | Status: Trader | 14,334 Posts
WARNING
When price breaks through yesterday's high or low or makes a new high or low today, that is a breakout!
Trade the reversal with caution.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #2,296
- Jun 15, 2016 9:37am Jun 15, 2016 9:37am
- Joined Mar 2012 | Status: Trader | 14,334 Posts
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #2,297
- Jun 15, 2016 10:24am Jun 15, 2016 10:24am
- Joined Mar 2012 | Status: Trader | 14,334 Posts
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
Hi TooSlow,
Could you please explain why it's not just
because if the current M5 / M15 bar is a breakout bar, then the current H1 bar is breaking out as well - and even if next M5/M15 bars don't go further and even fulfill Rule #3, we shouldn't be allowed to trade them because H1[0] remains to be a breakout bar till the hour closes and the OR condition in Rule #1 tells us we should wait (supported by Rule #5) .
That said, I've encountered many profitable opportunities if I bent Rule #1 by ignoring H1's breakout property if smaller TFs showed PA pointing to a reversal, especially short before H1 closed, forming a pinbar / fakey, while there was a considerable (SR? SD?) level causing the rejection. But I guess this is exactly the "make it your own" playground example, and can't be generalized by adding any if-then sub-rules.. this all makes me believe Rule #1 should only mention H1.
Sorry for this perhaps too stupid (and rigid matter) question; I'd just like to have this clarified because of proper coding.
Even more apologies if the answer is in the thread already - I've skimmed through it all but couldn't find it.
Thanks for everything you've done here so far
Rule #1:
No entry on H1, M15 or M5 Breakout Bars
Rule #1:
No entry on H1 Breakout Bars
That said, I've encountered many profitable opportunities if I bent Rule #1 by ignoring H1's breakout property if smaller TFs showed PA pointing to a reversal, especially short before H1 closed, forming a pinbar / fakey, while there was a considerable (SR? SD?) level causing the rejection. But I guess this is exactly the "make it your own" playground example, and can't be generalized by adding any if-then sub-rules.. this all makes me believe Rule #1 should only mention H1.
Sorry for this perhaps too stupid (and rigid matter) question; I'd just like to have this clarified because of proper coding.
Even more apologies if the answer is in the thread already - I've skimmed through it all but couldn't find it.
Thanks for everything you've done here so far
MarginTrader All Time Return:
na
- #2,299
- Jun 15, 2016 12:49pm Jun 15, 2016 12:49pm
- Joined Mar 2012 | Status: Trader | 14,334 Posts
Hi TooSlow, {quote} Could you please explain why it's not just {quote} because if the current M5 / M15 bar is a breakout bar, then the current H1 bar is breaking out as well - and even if next M5/M15 bars don't go further and even fulfill Rule #3, we shouldn't be allowed to trade them because H1[0] remains to be a breakout bar till the hour closes and the OR condition in Rule #1 tells us we should wait (supported by Rule #5) . That said, I've encountered many profitable opportunities if I bent Rule #1 by ignoring H1's breakout property if smaller...
Depends on which chart you are using.
Price is the same on all charts.
You can have a green H1 but a red M15 and/or red M5 when price returns to the H1 highest open.
One trader waits while another takes the trade.
The rules are guidelines to help prevent losses and premature entries.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #2,300
- Jun 15, 2016 1:06pm Jun 15, 2016 1:06pm
- Joined Mar 2012 | Status: Trader | 14,334 Posts
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade