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Highest Open / Lowest Open Trade

  • #2,661
  • Jun 29, 2016 8:32am Jun 29, 2016 8:32am
Quoting TooSlow
{quote} Have you ever read MARK DOUGLAS' TRADING IN THE ZONE? You dont need to know whats going to happen next to make money. Anything can happen. Every moment is unique, meaning every edge and outcome is truly a unique experience. The trade either works or it doesnt. Mark Douglas https://www.theforexguy.com/mark-dou...ng-psychology/
No, I didnt read this book. I want, but English is not my primary language, so probably it will be difficult for me. But i plan to buy it, and try to read it. I will read website which you post.So, 1 pip is enoguh for test?
  • #2,662
  • Jun 29, 2016 8:39am Jun 29, 2016 8:39am
Hallo Friends from my favorite thread.

Have been traveling and will be for the next two months. I can only trade some long term positions but will check in from time to time.

Wishing you all Safe Trading! Habo
  • #2,663
  • Jun 29, 2016 8:41am Jun 29, 2016 8:41am
Quoting TooSlow
{quote} safrash, your entry is still LATE! Your entry line should be AT THE EXACT SAME PRICE AS THE HIGHER OPEN LINE ON YOUR CHART and NOT BELOW IT! Can someone please explain this to safrash?
no entry here
Attached Image (click to enlarge)
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The quality of your life is brought about by the quality of your thinking.
  • #2,664
  • Jun 29, 2016 8:43am Jun 29, 2016 8:43am
Quoting TooSlow
{quote} safrash, your entry is still LATE! Your entry line should be AT THE EXACT SAME PRICE AS THE HIGHER OPEN LINE ON YOUR CHART and NOT BELOW IT! Can someone please explain this to safrash?
I will try to explan to safrash. But I cant do it now, beacuse I am not on my computer, I write this with my phone. TooSlow, can I try to explain to him, you dont have nothing against it?
  • #2,665
  • Jun 29, 2016 8:47am Jun 29, 2016 8:47am
example below, enter as price crosses back up on the line
Attached Image
The quality of your life is brought about by the quality of your thinking.
  • #2,666
  • Jun 29, 2016 8:51am Jun 29, 2016 8:51am
"To find the real reason people seem to disregard the views of experts about important matters, we need to look at how we process information. In The Stupidity Paradox, a recent work I completed with Mats Alvesson, we asked why, in a world of increasingly smart people, we so frequently end up making incredibly stupid decisions.

One reason is our inbuilt cognitive biases. We often make quick decisions about complex issues on the basis of our past beliefs or even chance associations. After we have made these decisions—which often happen in a matter of milliseconds—we start the laborious process of proving ourselves right. We seek information which justifies decisions already made. Many members of the public have already made up their mind about about Trumponomics, Europe, or climate change. All they focus on is finding information that confirms their split-second decisions. Information that challenges their beliefs is carefully ignored; it could make them uncomfortable and require them to think again."

http://qz.com/704412/the-science-of-...diotic-choices
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,667
  • Jun 29, 2016 8:54am Jun 29, 2016 8:54am
Quoting skljsklj1
{quote} I will try to explan to safrash. But I cant do it now, beacuse I am not on my computer, I write this with my phone. TooSlow, can I try to explain to him, you dont have nothing against it?
Please give it your best shot.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,668
  • Jun 29, 2016 8:54am Jun 29, 2016 8:54am
Quoting hornet
example below, enter as price crosses back up on the line {image}
Thank you, hornet.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,669
  • Jun 29, 2016 9:13am Jun 29, 2016 9:13am
Quoting TooSlow
{quote} Please give it your best shot.
Entered at the line + spread
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  • #2,670
  • Jun 29, 2016 9:14am Jun 29, 2016 9:14am
Quoting safrash
{quote} Entered at the line + spread {image}
NO!
Enter at the line.
When selling short, enter when bid is at the highest open.
When buying long, enter when ask is at the lowest open.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,671
  • Jun 29, 2016 9:16am Jun 29, 2016 9:16am
I have done it patience is virtue isn't it man
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  • #2,672
  • Jun 29, 2016 9:20am Jun 29, 2016 9:20am
“Ninety-five percent of the trading errors you are likely to make—causing the money to just evaporate before your eyes—will stem from your attitudes about being wrong, losing money, missing out, and leaving money on the table. What I call the four primary trading fears.”

https://www.goodreads.com/work/quote...scipline-and-a
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,673
  • Jun 29, 2016 9:22am Jun 29, 2016 9:22am
Quoting mizi123
I have done it patience is virtue isn't it man {image}
That trade violates RULE #1.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,674
  • Jun 29, 2016 9:23am Jun 29, 2016 9:23am
Quoting mizi123
I have done it patience is virtue isn't it man {image}
no entry on candle that set high of the day
rule 1
The quality of your life is brought about by the quality of your thinking.
  • #2,675
  • Jun 29, 2016 10:07am Jun 29, 2016 10:07am
Attached Image (click to enlarge)
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,676
  • Jun 29, 2016 10:10am Jun 29, 2016 10:10am
Quoting hornet
{quote} no entry on candle that set high of the day rule 1
Is this how u interpret Rule 1?

I only interpreted it as: No entry on a H1 candle which broke yesterday's Hi/Lo. (Breakout bar). Any subsequent H1 candle which makes a new high/low after breaking yesterday's Hi/Lo I was fine taking entry.

Hornet, thank you for your inputs. Too Slow, can u pls clarify?
  • #2,677
  • Jun 29, 2016 10:18am Jun 29, 2016 10:18am
Quoting courier12
{quote} is this how u interpret rule 1? I only interpreted it as: No entry on a h1 candle which broke yesterday's hi/lo. (breakout bar). Any subsequent h1 candle which makes a new high/low after breaking yesterday's hi/lo i was fine taking entry. Hornet, thank you for your inputs. Too slow, can u pls clarify?
today's and/or yesterday's
The quality of your life is brought about by the quality of your thinking.
  • #2,678
  • Jun 29, 2016 10:20am Jun 29, 2016 10:20am
Quoting courier12
{quote} Is this how u interpret Rule 1? I only interpreted it as: No entry on a H1 candle which broke yesterday's Hi/Lo. (Breakout bar). Any subsequent H1 candle which makes a new high/low after breaking yesterday's Hi/Lo I was fine taking entry. Hornet, thank you for your inputs. Too Slow, can u pls clarify?
That is half of it.
A bar making a NEW DAILY HIGH/DAILY LOW is a BREAKOUT BAR.
Reverse entries on breakout bars are highly risky.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,679
  • Jun 29, 2016 10:20am Jun 29, 2016 10:20am
Quoting TooSlow
{quote} Please give it your best shot.
Hi TooSlow, I am new to this thread, and because I haven't posted much, all my posts go through the moderators first, so you probably missed my post #2636 in which I am offering to post some "visual" representations of the rules. If you OK that request, I will put something up tomorrow. (I am in Australia, so it's quiet during the Asian session on the thread)
Kind regards. Michael
  • #2,680
  • Jun 29, 2016 10:23am Jun 29, 2016 10:23am
WHICH ALL MAKES PERFECT SENSE IF YOU THINK IN TERMS OF DYNAMICS OF MARKETS AND PENDING ORDERS WAITING TO BE FILLED, DOES IT NOT?
The quality of your life is brought about by the quality of your thinking.
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