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Highest Open / Lowest Open Trade

  • #2,761
  • Edited 11:13am Jun 30, 2016 10:45am | Edited 11:13am
Quoting baldmonk
{quote} sold on the marked M5 candle when it was still red. right before the break-out. may be just unlucky? win some, lose some... {image}
Reason for not selling on the red candle before the candle you entered?
What do those long wicks & tails tell you?
Were you listening?
Remember, when dancing with the market, the market always leads.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,762
  • Jun 30, 2016 10:56am Jun 30, 2016 10:56am
Quoting TooSlow
{quote} Reason for not selling on the red candle before the candle you entered? What do those long tails tell you? Were you listening? Remember, when dancing with the market, the market always leads.
master too slow, what long tails are you talking about? do you mean the long wick of the red M5 candle right before my entry candle? thanks,
  • #2,763
  • Jun 30, 2016 11:08am Jun 30, 2016 11:08am
Quoting baldmonk
{quote} master too slow, what long tails are you talking about? do you mean the long wick of the red M5 candle right before my entry candle? thanks,
Wick on top.
Tail on bottom.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,764
  • Jun 30, 2016 11:20am Jun 30, 2016 11:20am
Thanks So slow for this amazing strategy. Subscribed hoping to learn more from you. Also testing is better than talking itself.
Best regard,
Minh
  • #2,765
  • Jun 30, 2016 11:21am Jun 30, 2016 11:21am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,766
  • Jun 30, 2016 11:45am Jun 30, 2016 11:45am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,767
  • Jun 30, 2016 11:57am Jun 30, 2016 11:57am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,768
  • Jun 30, 2016 12:30pm Jun 30, 2016 12:30pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,769
  • Jun 30, 2016 12:50pm Jun 30, 2016 12:50pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,770
  • Jun 30, 2016 1:18pm Jun 30, 2016 1:18pm
It is possible to automate This system?
  • #2,771
  • Jun 30, 2016 4:42pm Jun 30, 2016 4:42pm
Quoting MichaelG
Hi All, I wanted to try to help explain the entry process in a "visual" fashion that may (or may not) be of assistance to some traders. This is a series of charts looking at each step in the process of identifying possible setups, identifying actual valid setups, and activating the trade. There are notations on each chart....starting with the H1....and ending at the M15. I am specifically looking at a SELL trade in this example. The EXACT REVERSE will be true for a BUY trade. I trust this will be of assistance. Regards Michael {image} In the above...
Very good explanation the best
  • #2,772
  • Jun 30, 2016 4:55pm Jun 30, 2016 4:55pm
Quoting MichaelG
{quote} Many thanks TooSlow, and to your thread followers. Happy that it has proven useful. Now, I have to do some trading
Dear MichaelG
What we must do in this case? We have no time thinking in our interest area, can we switch to M5?
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  • #2,773
  • Jun 30, 2016 6:06pm Jun 30, 2016 6:06pm
Quoting MichaelG
Hi All, I wanted to try to help explain the entry process in a "visual" fashion that may (or may not) be of assistance to some traders. This is a series of charts looking at each step in the process of identifying possible setups, identifying actual valid setups, and activating the trade. There are notations on each chart....starting with the H1....and ending at the M15. I am specifically looking at a SELL trade in this example. The EXACT REVERSE will be true for a BUY trade. I trust this will be of assistance. Regards Michael {image} In the above...
wow! At last someone came in to explain this strategy in simple way. Thank you Michael and thank you tooslow for those motivational qoutes i like them.
  • #2,774
  • Jul 1, 2016 3:10am Jul 1, 2016 3:10am
Quoting safrash
{quote} Dear MichaelG What we must do in this case? We have no time thinking in our interest area, can we switch to M5? {image}
Apologies safrash for missing your post. I am in Australia, so I am tucked up in bed when most of you are trading. I will take an in depth look at your chart after dinner.
Cheers
  • #2,775
  • Jul 1, 2016 4:09am Jul 1, 2016 4:09am
Quoting safrash
{quote} Dear MichaelG What we must do in this case? We have no time thinking in our interest area, can we switch to M5? {image}
Hi safrash, please refer to the chart below. Unfortunately, on this occasion, we did not get a valid setup, so no trade I'm sorry my friend.

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  • #2,776
  • Jul 1, 2016 5:04am Jul 1, 2016 5:04am
MichaelG a simple question , what software do you use for draw arrows on mt4 screenshoot? tks
  • #2,777
  • Jul 1, 2016 5:23am Jul 1, 2016 5:23am
Quoting franky779
MichaelG a simple question , what software do you use for draw arrows on mt4 screenshoot? tks
Hi Franky, I use a free bit of kit called Clip2Net. I'm not sure what the rules are here so I better not post a link, but if you google it, you should be okay. I've had it a while, so there may be a better version out, and I think you can get a paid version as well, but for what I use it for, the free one is fine. If you do get it and have any problems, let me know and I will do a bit of a "how to".....but not on this thread
Cheers
  • #2,778
  • Jul 1, 2016 5:53am Jul 1, 2016 5:53am
Possible setup

EDIT.....NO TRADE....candle made new Daily High. ....TRADE BREAKOUT REVERSALS WITH CAUTION

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  • #2,779
  • Jul 1, 2016 6:26am Jul 1, 2016 6:26am
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  • #2,780
  • Edited 7:33am Jul 1, 2016 7:03am | Edited 7:33am
EURUSD H1

EDIT.....M5 has opened.......I am waiting for an M15 open (just my preference)

EDIT....no trade. New daily high made....

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