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  • #2,501
  • Jun 23, 2016 2:52am Jun 23, 2016 2:52am
Quoting TooSlow
{quote} Welcome to the thread, safrash. Best you read through it before you starting asking for things. You will learn what to focus on and where your focus needs to be. HINT: No one else's account.
Thanks you for replay, TooSlow.
From rules of system:

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

Is this mean we must wait wicks of bars and when enter after closing H1 bar?
  • #2,502
  • Jun 23, 2016 4:59am Jun 23, 2016 4:59am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,503
  • Jun 23, 2016 5:00am Jun 23, 2016 5:00am
Quoting safrash
{quote} Thanks you for replay, TooSlow. From rules of system: Sell short at the highest H1 open after price goes up through it and comes back down. Is this mean we must wait wicks of bars and when enter after closing H1 bar?
No.
The rules do not state to wait for a bar to close.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,504
  • Jun 23, 2016 5:19am Jun 23, 2016 5:19am
PRACTICE: NAIVE, PURPOSEFUL, DELIBERATE

“Purposeful practice has several characteristics that set it apart from what we might call ‘naive practice,’ which is essentially just doing something repeatedly, and expecting that repetition alone will improve one’s performance.”

– Anders Ericsson and Robert Pool
from Peak

Let’s start by chatting about what WON’T help you take advantage of the gift of adaptability:

“Naive practice.”

Simply doing the same thing over and over again and expecting to get better.

<— That doesn’t work.

An example: driving. You may think that the more experience you have driving, the better driver you are. (Or, the longer you’ve been a doctor, the better doctor you are.) But that just isn’t the case. Simply doing something again and again does NOT lead to adaptability and improvement.

We need to be purposeful + deliberate about it.

Which leads us to purposeful practice. Purposeful practice is better than naive practice but not quite as good as deliberate practice which, Anders tells us, is “The Gold Standard.”

For now, let’s take a quick look at purposeful practice. Here are some of it’s top qualities:

“Purposeful practice has well-defined, specific goals.”

How, specifically (!), do you intend to improve in this practice session? What will you do? In short: We need to identify our long-term goals, break it down into mini-goals and then take baby steps in pursuit of that goal. It all starts with a specific goal. A target.

“Purposeful practice is focused.”

Anders tells us that if we’re calm and relaxed and having “fun” or kinda sorta going through the motions, we’re not really practicing. We need to focus INTENSELY. This is why Dan Pink says one of the three laws of mastery is that it’s a pain. (See Notes on Drive.)

“Purposeful practice involves feedback.”

You need to know how you’re doing step by step. Did you miss a note playing that song you want to play perfectly three times in today’s practice session? Immediate feedback to help you identify what you’re doing wrong (and how you can improve) is essential.

“Purposeful practice requires getting out of one’s comfort zone.”

Anders tells us this may be the most essential aspect of purposeful practice. He puts it directly: “If you never push yourself beyond your comfort zone, you will never improve.”

We need to streeettttcccchhhh ourselves out of our comfort zone. BUT, not so far that we snap. We talk about this all the time in our Notes and it’s awesome to see Anders walk us through the science of why this matters. It’s the subject of the next chapter and our next idea on ADAPTABILITY.

But first, a quick re-cap: “So here we have purposeful practice in a nutshell: Get outside your comfort zone but do it in a focused way, with clear goals, a plan for reaching those goals, and a way to monitor your progress. Oh, and figure out a way to maintain your motivation.”

P.S. “The Gold Standard” of deliberate practice is, in short, essentially purposeful practice plus having a teacher and going thru a very clear training program in an established field like chess, music, sports that have REALLY clear, established top performers and equally clear means to achieving that mastery.

- Brian Johnson
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,505
  • Jun 23, 2016 6:26am Jun 23, 2016 6:26am
Is it possible to become mentally tough or is mental toughness only something reserved for elite athletes? What can mental toughness do for you?
To start, how many 8 year-old athletes are described as mentally tough? Probably none.
That's because mental toughness is not a genetic trait but a skill set learned over time. If you are capable of learning, you can learn to become mentally tough.
If you have developed physically and technically as an athlete, you can grow your mental game and become a mentally tougher athlete and that is a fact!
Mental toughness is the one skill that can help you beat the odds...
Mount a comeback when you are down late in a game...
Play your best during championship moments...
Beat teams that seem unbeatable...
And perform with consistency and confidence.
Take for example the Cleveland Cavaliers... Of course the team is talented but talent is never enough.
It requires mental toughness to beat a team who defeated you the previous year to win the championship.
It takes mental toughness to come back in an NBA final when you are down 3-1 when no team in NBA history accomplished that feat.
It takes mental toughness to beat a team who had a record-breaking season with 73 wins.
It requires mental toughness to successfully defend a team who has the two-time NBA MVP.
It requires mental toughness to win a championship in a hostile environment when the opposing team had the most dominant home records over the past two years.
It takes mental toughness to overcome a 52-year championship drought suffered through by an entire city.
And it was mental toughness that was the key for the Cleveland Cavaliers to beat the odds and win the 2016 NBA Championship.
Mental toughness helped the Cavaliers despite all the pressure hoisted upon the team. Not only did the team thrive in that pressure-packed championship moment, the team looked forward to competing under those circumstances.
Cavaliers coach Tyronn Lue expressed the overall mindset of the team when he said after Game 6, "I wish every game was an elimination game."
When you are mentally tough, you have the confidence to know that you are never out of the game.
Mentally tough players have a sense of calm and focus because they feel they can still affect the game no matter the situation.
MVP LeBron James was often admonished early in his career for an inability to perform when the game mattered most. But in Game 7, LeBron was a picture of poise under pressure due to his mental toughness that he cultivated throughout the years.
JAMES: "I was calm. I was focused. I was locked in."
Your success as an athlete depends, not only on your physical skill set, but on how much time you dedicate to growing your mental toughness.
Tips for growing mental toughness:
There is a saying, “If you don’t know the answer, find someone who does.” The same is true of growing your mental toughness.
Seek out the advice of experts. Just like hiring a personal coach to hone your physical skills... Find a mental game coach to help develop your mental toughness.
Mental toughness will be the skill that launches your career further than you thought possible.

- Dr. Patrick J. Cohn
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,506
  • Jun 23, 2016 7:07am Jun 23, 2016 7:07am
What Productivity Systems Won't Solve

By Leo Babauta

If you’re like me, you’re always looking for the perfect productivity system. Unfortunately, it doesn’t exist.
The problem isn’t with the productivity system — the problem is that none of them can solve a few really important (and related) problems:
1.Procrastination
2.Fear of uncertainty
3.Fear of discomfort
For example, at the top of my to-do list today is “write Zen Habits post” and “write intro to declutter course” … pretty simple, right? Two fairly straightforward tasks. But as I started this post, I went to check and respond to email, sent a message to my wife, checked on my finances, cleaned the kitchen a little. I’m super productive at the little things when I’m putting off the big tasks!
No matter how good the productivity system is, it falls apart when I start procrastinating.


When a task is uncomfortable, I procrastinate, just like most people. When I’m facing a lot of uncertainty with a task, I procrastinate. Like most of us.
Often, we’ll work on a new productivity system, try out a new to-do list app, start organizing, or start getting our email inbox to zero, or start reading about a new way to be productive (like you are now) … all as a way to procrastinate on uncertain or uncomfortable tasks.

And it’s so much easier to follow the path of distractions and little tasks, than to face a big important but scary task. It’s easy to go to your bank’s website to check your balance, check on your favorite blogs and news sites, pop open your favorite social media network, and so on. These have no barrier to entry, and always give you some reward, while difficult tasks give you negative feedback and have obstacles to getting started. Not a fair fight, huh?
So how do we deal with this? A few important methods:
1. Take a step back. You have to get away from the distractions and little tasks. Step away from the computer, and go outside, go for a walk, take a shower, meditate, or just sit doing nothing for one minute. That’s all it takes. Step back and think about what you should be doing right now, rather than what’s easiest and most tempting.
2. Remember who you’re doing this for. As you step back, think about the person who will benefit from you doing this important task. Is it a co-worker, client, customer, loved one? Is it you? How will it make their life better? Maybe it’ll make something easier for them, but maybe it’ll solve a real pain point or meet an important need. I’ve found that I procrastinate when I’m focused on my own comfort, but push through procrastination when I’m focused on helping others.
3. Let yourself dive into the discomfort. Clear away distractions, just have what you need to do this one task, and allow yourself to be uncomfortable for a few minutes. Yes, it sucks, but it’s actually not that bad once you get started. It’s like diving into cold water — just dive in, don’t think about it. Once you’re in, relax into the discomfort, and see that it’s not as bad as you feared.
4. Embrace the uncertainty. A lot of times it’s a fear of uncertainty that holds us back. We don’t know how to do something, or how things will turn out, and that freaks us out a bit. We don’t want to work on something like that, or even think about it. We avoid and procrastinate and rationalize. Instead, see uncertainty as a necessary part of life (who wants a life where you know how everything would turn out? super boring) … and see it as an exciting part of life, one that is filled with wonder, curiosity, learning, exploration and adventure. Instead of looking at uncertainty as a bad thing, embrace it and see if you can get good at exploring it. Like discomfort, dive in and relax into it.
5. Do it in little bits. Yes, uncertainty and discomfort can be difficult. So don’t kill yourself trying to master them … just do it in small doses. Work on the task for just a few minutes, then walk around and take a break. Then sit down and focus again, relaxing into the discomfort and uncertainty. Repeat.
With this kind of mindful practice, you’re training yourself to get good at discomfort and uncertainty. This is a wonderful skill to get good at!
And in the end, not only will you be facing down the most difficult aspect of productivity, you’ll be doing something good for others in the process.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,507
  • Jun 23, 2016 8:08am Jun 23, 2016 8:08am
Quoting TooSlow
What Productivity Systems Won't Solve By Leo Babauta If youre like me, youre always looking for the perfect productivity system. Unfortunately, it doesnt exist. The problem isnt with the productivity system the problem is that none of them can solve a few really important (and related) problems: 1.Procrastination 2.Fear of uncertainty 3.Fear of discomfort For example, at the top of my to-do list today is write Zen Habits post and write intro to declutter course pretty simple, right? Two fairly straightforward tasks. But as I started this post, I...
  • #2,508
  • Jun 23, 2016 8:13am Jun 23, 2016 8:13am
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Waiting...
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,509
  • Jun 23, 2016 9:20am Jun 23, 2016 9:20am
I did not take any positions today due to Brexit. I believe they were voting today, please correct me if I am wrong? I did take a 4h usdcad short last night and man oh man is it nice waking up to some mad pips This method can work on any time frame and allows for optimal entries. I have started refining my entries and I have noticed that when I wait for the trade entry that goes with the long term trend I see better results. 15/17 of my recent trades have yielded far greater profits waiting for the trend to line up with the pristine entry strategy. Rather than trading against the d1 or 4h trend I look for a nice trend and skip the drawback trade and try to get the entry going in the same direction as the long term trend following the rules. Everyone is different just trying to share my experiences. Hope this helps. Cheers!
  • #2,510
  • Jun 23, 2016 9:33am Jun 23, 2016 9:33am
Quoting TooSlow
{quote} No. The rules do not state to wait for a bar to close.
So this enter is correct?
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  • #2,511
  • Jun 23, 2016 10:33am Jun 23, 2016 10:33am
Quoting TooSlow
What Productivity Systems Won't Solve By Leo Babauta If youre like me, youre always looking for the perfect productivity system. Unfortunately, it doesnt exist. The problem isnt with the productivity system the problem is that none of them can solve a few really important (and related) problems: 1.Procrastination 2.Fear of uncertainty 3.Fear of discomfort For example, at the top of my to-do list today is write Zen Habits post and write intro to declutter course pretty simple, right? Two fairly straightforward tasks. But as I started this post, I...
Great post!
Saving it and hopefully applying it more often...
Thanks!!!
  • #2,512
  • Jun 23, 2016 11:35am Jun 23, 2016 11:35am
Quoting wannalearn12
I did not take any positions today due to Brexit. I believe they were voting today, please correct me if I am wrong? I did take a 4h usdcad short last night and man oh man is it nice waking up to some mad pips This method can work on any time frame and allows for optimal entries. I have started refining my entries and I have noticed that when I wait for the trade entry that goes with the long term trend I see better results. 15/17 of my recent trades have yielded far greater profits waiting for the trend to line up with the pristine entry strategy....
Please post a chart showing what you described.
Thank you.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,513
  • Jun 23, 2016 11:36am Jun 23, 2016 11:36am
Quoting safrash
{quote} So this enter is correct? {image}
No.
Not at all.
The entry is at the price of the highest H1 open or lowest H1 open.
Short should have been at Highest H1 open 120.678

Look at the charts I post.
The rules are there.

Have you read post #1?
Have you read the first 20 pages of this thread?
If not, then what makes you believe you understand the method?

Is it a language barrier?
Please help me write rules that translate well.


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.


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
  • #2,514
  • Jun 23, 2016 11:50am Jun 23, 2016 11:50am
Quoting TooSlow
{quote} No. Not at all. The entry is at the price of the highest H1 open or lowest H1 open. Short should have been at Highest H1 open 120.678 Look at the charts I post. The rules are there. Have you read post #1? Have you read the first 20 pages of this thread? If not, then what makes you believe you understand the method? Is it a language barrier? Please help me write rules that translate well. 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...
Thank you very much for replay. Of course, English is not my native language, but I understand and have read post 1 and rules. If I trade on H1 TF, I can see higher open at 120.678 only after closing bar, and how I can enter at this price, after return only, so we must only wait returning moment, correct? But often price not return, what in this case?
Thanks
  • #2,515
  • Jun 23, 2016 11:59am Jun 23, 2016 11:59am
EURNZD BUY from lower open, what mean [11] - H1[11] Lower open?
I think not correct enter, firstly must wait closing H1 bar
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  • #2,516
  • Jun 23, 2016 12:30pm Jun 23, 2016 12:30pm
Quoting safrash
{quote} Thank you very much for replay. Of course, English is not my native language, but I understand and have read post 1 and rules. If I trade on H1 TF, I can see higher open at 120.678 only after closing bar, and how I can enter at this price, after return only, so we must only wait returning moment, correct? But often price not return, what in this case? Thanks
Use M15 or M5 charts.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,517
  • Jun 23, 2016 12:31pm Jun 23, 2016 12:31pm
Quoting safrash
EURNZD BUY from lower open, what mean [11] - H1[11] Lower open? I think not correct enter, firstly must wait closing H1 bar {image}
H1[11] means this price level occurred 11 H1 bars ago.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,518
  • Jun 23, 2016 12:32pm Jun 23, 2016 12:32pm
Quoting safrash
EURNZD BUY from lower open, what mean [11] - H1[11] Lower open? I think not correct enter, firstly must wait closing H1 bar {image}
You are entering LATE!
The entry is at the H1 lowest open line at 1.56778
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,519
  • Edited 1:03pm Jun 23, 2016 12:44pm | Edited 1:03pm
Quoting TooSlow
{quote} H1[11] means this price level occurred 11 H1 bars ago.
Thanks, with Highest Open / Lowest Open Trade not possible loss money, but must only know how fix a profit
And better is not opposite trade on a big TF
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  • #2,520
  • Edited 2:31pm Jun 23, 2016 1:07pm | Edited 2:31pm
The gist of what I am trying to show: I like to pick a chart H1, H4, ect. Once chart is chosen, identify a setup, ie. new high open / low open for the current day. WAIT for the price action to test ABOVE the high open or BELOW the low open. This way on the smaller time frame price action will be moving TOWARDS the Highest H1/H4 Open or Low H1/H4 Open (Can I hear Momentum?). Make sure to enter and get your price where once the Price Action is at the Highest/Lowest (EDIT) open you are at 0 profit/loss. MAKE SURE YOU DO NOT ENTER EXACTLY ON THE HIGHEST / LOWEST (EDIT) OPEN, YOU MUST ENTER REGARDING YOUR SPREAD, thus price must be 1-3 pips AWAY from the highest/lowest open you are trading to. To recount what I have said: Your entry should be in such a way that once price is at the highest / lowest open you are at break even 0 profit and 0 loss. An entry exactly at the highest / lowest open will result in a negative pip loss at the highest / lowest open - WE DO NOT WANT THIS.

The additional steps I have started to take have resulted in far greater profits for me personally:
Step 1: Identify the trend on the current chart ( ie. if price is going down for the last 15 hours or so with small retracements)
Step 2: Switch to one time frame higher to confirm the current trend (they must be the same trend)
Step 3: Now here is the part I have learned so painfully - WAIT - for the price action to setup perfectly. No early entry no late entry only perfect entry. THERE IS ALWAYS ANOTHER TRADE you CANNOT force the market to BEND to YOUR WILL. It will quite literally destroy you without hesitation.
Step 4: Exit strategy I love Too Slows method - you will hardly lose - at +5 pips (this is 50 points on the MT4 profit collum) move your stop to BE + 1 pip (10 points on MT4) at +10 pips I prefer to set a wide trailing stop at 5 pips so the minimum you take at this point is +5. After that I let the bad boy ride.

Here is a USDCAD trade I took on the H4 time frame. The D1 confirms the trend. Note* I do not like to trade against the trend (the pullback occurred and was weak, I do not trade the pullback, I waited for the USDCAD in the charts below to setup a new high open after the pullback and waited.... Once PA was weak and reversed towards the high open for that day I entered the trade regarding my spread)
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