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Highest Open / Lowest Open Trade

  • #2,381
  • Jun 20, 2016 8:17am Jun 20, 2016 8:17am
Quoting TooSlow
{image}
SL hit on this. Looking for next opportunity.
  • #2,382
  • Jun 20, 2016 8:29am Jun 20, 2016 8:29am
Me thinks the EUR are on a downtrend for the day.
  • #2,383
  • Edited 11:27am Jun 20, 2016 11:15am | Edited 11:27am
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Weekly open gap has been filled.
Count number of red H1 candles in a row
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,384
  • Jun 20, 2016 11:45am Jun 20, 2016 11:45am
Quoting wannalearn12
{quote} What was the basis for the entry?
Well, it's not exactly the rules of this thread. It's rather a breakout entry of Asian market (pink dotted vertical line is Tokyo open). Mixture of TooSlow's two threads, ala my taste. Sorry if you are confused. RS
  • #2,385
  • Jun 20, 2016 12:09pm Jun 20, 2016 12:09pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,386
  • Jun 20, 2016 12:12pm Jun 20, 2016 12:12pm
Let me try to understand this. Are you saying that you trade today using yesterdays highest high and lowest high? How can you use TODAYS highest high and lowest high if they havent occurred yet?
  • #2,387
  • Jun 20, 2016 12:13pm Jun 20, 2016 12:13pm
Quoting Bruno333
Do you have to start first looking at 1 hour chart ??? or only 15 minute chart. suggest ??? this strategy is good . with patience. be very clear about the candle ....15mts or 1 hour. so guide accordingly.. thnx
Start with H1.
Then move to M15.
Finally M5.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,388
  • Jun 20, 2016 12:15pm Jun 20, 2016 12:15pm
Quoting RFMagus1
Let me try to understand this. Are you saying that you trade today using yesterdays highest high and lowest high? How can you use TODAYS highest high and lowest high if they havent occurred yet?
Apparently, you have not read the thread.


Are you saying that you trade today using yesterdays highest high and lowest high?

No.

How can you use TODAYS highest high and lowest high if they havent occurred yet?

At any point in time, you know what the daily high/low are AT THE TIME.
Yes, price may go higher/lower.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,389
  • Jun 20, 2016 12:24pm Jun 20, 2016 12:24pm
That being the case, if you arbitrarily pick the highest high and lowest high at, for the sake of argument, 11:00am, and a subsequent high( let's say it happens at 1:00pm) eclipses the highest high and lowest high as of 11:00am, the integrity of your system goes out the window. Sorry, but this is no better than guessing.
  • #2,390
  • Jun 20, 2016 12:34pm Jun 20, 2016 12:34pm
Sorry for the distraction.
There won't be any more from that ignored poster.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,391
  • Jun 20, 2016 1:04pm Jun 20, 2016 1:04pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,392
  • Jun 20, 2016 1:10pm Jun 20, 2016 1:10pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,393
  • Jun 20, 2016 1:48pm Jun 20, 2016 1:48pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,394
  • Jun 21, 2016 4:36am Jun 21, 2016 4:36am
When a bar makes a new high open, it typically makes another extreme correct?
  • #2,395
  • Jun 21, 2016 4:54am Jun 21, 2016 4:54am
Quoting wannalearn12
When a bar makes a new high open, it typically makes another extreme correct?
Sometimes.
Not all of the time.
Look at a H1 chart.
See for yourself.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,396
  • Jun 21, 2016 5:10am Jun 21, 2016 5:10am
Quoting TooSlow
{quote} This method applies the rule of thumb to the H1 open. Every hour price will move a certain number of pips. Some hours price will move more than others. Price will make a high and low for the day. Price will reverse from the high and low of the day. The advantage of this method is being based on these facts of price movement and nothing more. Nothing new. You have known these facts all along. They may be assembled a little differently. But that is all. Maybe that answers the reason why this works ( some...
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,397
  • Jun 21, 2016 5:15am Jun 21, 2016 5:15am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,398
  • Jun 21, 2016 5:19am Jun 21, 2016 5:19am
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  • #2,399
  • Jun 21, 2016 5:35am Jun 21, 2016 5:35am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,400
  • Jun 21, 2016 5:37am Jun 21, 2016 5:37am
ATTENTION RESIDUE

The problem this research identifies with this work strategy is that when you switch from some Task A to another Task B, your attention doesnt immediately followa residue of your attention remains stuck thinking about the original task. ... People experiencing attention residue after switching tasks are likely to demonstrate poor performance on that next task, and the more intense the residue, the worse the performance.
The concept of attention residue helps explain why the intensity formula is true and therefore explains Grants productivity. By working on a single hard task for a long time without switching, Grant minimizes the negative impact of attention residue from his obligations, allowing him to maximize performance on this one task.


Cal Newport

from Deep Work


Attention residue. This is a really cool and Big Idea.

So, at this stage, most of us are pretty aware that multi-tasking is simply not possible. Although we can rapidly shift from one thing to another (diminishing our performance in both tasks!), we cant do two things at once.

Lets assume we get that and strive to focus on one thing at a time. Research shows that we STILL run into sub-optimal attention issues as we move from one meeting/project to another. A part of our attention is still focused on the last project. Theres a residue from it that diminishes our capacity to fully focus.

As Cal advises: To produce at your peak level you need to work for extended periods with full concentration on a single task free from distraction. Put another way, the type of work that optimizes performance is deep work.

Heres to cleaning up the residue on our attention! (One key way? Create time blocks!!)

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