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Highest Open / Lowest Open Trade

  • #2,861
  • Jul 3, 2016 6:43am Jul 3, 2016 6:43am
Following rules that work form someone else is very, very difficult. I know, believe you me.

There is a tendency to change or modify the rules before becoming confident with them by executing them flawlessly over and over again.

There is also a tendency to over-complicate things, where it can be so simple.

You just have to deal with your saboteur inside. Your saboteur wants you to fail, because you will be what you've always been. That is what is safe. Your saboteur wants to keep you safe. You need to reprogram it by executing fixed, simple rules over and over and over again until your internal saboteur is reprogrammed.

Simple does it
It takes courage to grow up and become who you really are - E.E. Cummings
  • #2,862
  • Jul 3, 2016 7:16am Jul 3, 2016 7:16am
Quoting bpran
I have been reading this strategy for the last 5 days. Still not sure if I am getting this right. Usually I am not this slow Check out the pic below just to make sure I got the concept correctly. Thanks in advance to TS and Mike. {image}
Hi bpran, thanks for stopping by here on TooSlow's thread.
Before anyone could answer your question, there are a couple of questions that you have to answer my friend.
And please remember this for future reference.
You have an M15 chart, but nobody knows which pair it is.
You have a line on the chart that says DAILY OPEN LINE.
Nowhere in the rules does it mention anything about the daily open. So I hope you are not using that line to trade off.
The rules do talk about YESTERDAYS HIGH and YESTERDAYS LOW.
It talks about Todays High and Todays Low, but not todays open.

It talks about todays highest and lowest H1 open price, and about todays high and low. These are the only price levels you should be referring to when looking for a setup. But I can't see a line on your chart that tells me what TODAYS HIGHEST H1 OPEN price is. I could try and guess, but as you know, we never try to guess what the market will do, so I am not going to guess what your chart is.

If you can tell me what pair this is (USDJPY???) and tell me the date and M15 time of your chart, then I will be happy to get back to you with an answer.
Kind regards
Michael
  • #2,863
  • Jul 3, 2016 8:34am Jul 3, 2016 8:34am
Quoting mario777
{quote} TooSlow, in connection to your answer to Merka's question, do you mean after the 6 bar candle went down a bit and created a wick, that is where you have enter long? Its just about half of a pip. {image}
Yes.
Count the candles.
Can you figure it out?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,864
  • Jul 3, 2016 8:36am Jul 3, 2016 8:36am
Quoting Merka
{quote} Exactly.I didn't spot that setup on the chart posted by TooSlow.Thanks.Merka
How many bear M1 candles in a row?
How many bear M5 candles in a row?
This is simple.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,865
  • Jul 3, 2016 8:43am Jul 3, 2016 8:43am
Quoting mizi123
{quote} You are right bro devil stay hiden behinde details but anyway i think if entry signal comes in H1, sl and entry should be selected acording to that timeframe, in these case i spoted that signal has appere in 15 min TF and because of that i have put my entry there..
Until you let go of the false belief that how you display the market makes any difference to the market, you will remain blind to the market.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,866
  • Jul 3, 2016 8:54am Jul 3, 2016 8:54am
Quoting PippyTheGrt
Following rules that work form someone else is very, very difficult. I know, believe you me. There is a tendency to change or modify the rules before becoming confident with them by executing them flawlessly over and over again. There is also a tendency to over-complicate things, where it can be so simple. You just have to deal with your saboteur inside. Your saboteur wants you to fail, because you will be what you've always been. That is what is safe. Your saboteur wants to keep you safe. You need to reprogram it by executing fixed, simple rules...
It is ego.
No one likes to be told what to do.
No one likes to be told how to do it.
People like to feel in control.
People like to make their own decisions.
Otherwise they feel like a cog in a machine.
Or like a dog salivating when the bell rings.

See the candle open above the highest H1 open.
See the price go down to the highest H1 open.
Sell.
Set your SL.
Move you SL.
Bank your pips.
Good boy.
Here's your doggie biscuit.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,867
  • Jul 3, 2016 8:56am Jul 3, 2016 8:56am
Quoting MichaelG
{quote} Hi bpran, thanks for stopping by here on TooSlow's thread. Before anyone could answer your question, there are a couple of questions that you have to answer my friend. And please remember this for future reference. You have an M15 chart, but nobody knows which pair it is. You have a line on the chart that says DAILY OPEN LINE. Nowhere in the rules does it mention anything about the daily open. So I hope you are not using that line to trade off. The rules do talk about YESTERDAYS HIGH and YESTERDAYS LOW. It talks about Todays High and Todays...
Look at my charts.
See the daily open lines for today and yesterday?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,868
  • Jul 3, 2016 9:20am Jul 3, 2016 9:20am
Quoting TooSlow
{quote} Look at my charts. See the daily open lines for today and yesterday?
G'day to you TooSlow. very late here in Aus......I guess it's good morning to you
My question to bpran was which pair he was looking at. Do you know which pair he is referring to? (post 2853)
Cheers
  • #2,869
  • Jul 3, 2016 9:38am Jul 3, 2016 9:38am
Quoting MichaelG
{quote} G'day to you TooSlow. very late here in Aus......I guess it's good morning to you My question to bpran was which pair he was looking at. Do you know which pair he is referring to? (post 2853) Cheers
No.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,870
  • Jul 3, 2016 9:43am Jul 3, 2016 9:43am
I have asked many questions.
Few have answered.
Why?

This thread is friendly.
No one is hazed for asking questions.
Rude people get ignored and lose posting privilege.

As you read the thread please answer my questions.
They are not rhetorical.
Thank you.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,871
  • Jul 3, 2016 10:02am Jul 3, 2016 10:02am
Quoting TooSlow
I have asked many questions. Few have answered. Why? This thread is friendly. No one is hazed for asking questions. Rude people get ignored and lose posting privilege. As you read the thread please answer my questions. They are not rhetorical. Thank you.
Hi TooSlow,
One question please if I may.
Is this post directed at me specifically?
Thankyou
  • #2,872
  • Jul 3, 2016 11:09am Jul 3, 2016 11:09am
Quoting TooSlow
{quote} It is ego. No one likes to be told what to do. No one likes to be told how to do it. People like to feel in control. People like to make their own decisions. Otherwise they feel like a cog in a machine. Or like a dog salivating when the bell rings. See the candle open above the highest H1 open. See the price go down to the highest H1 open. Sell. Set your SL. Move you SL. Bank your pips. Good boy. Here's your doggie biscuit.
Exactly.

People like to make their own decisions, you'd like to think. Is that really true ? Or are hidden agenda's running ones internal system ?

Either you decide to use a simple trading system with a clear, small, defined set or rules OR you don't. There are no other choices.
YOU, the trader, makes that decision. It is a decision out of free will, nobody else involved in that decision but you.
Unfortunately, these voices inside your head (aka "inner monkey") tell you to do otherwise. So you make a decision ("yes I'm going to use this simple system") but then you bend the rules, or you don't use it long enough to get statistical proof that it works for yourself , or you execute it badly and afterwards you say "I was right from the beginning, this can't work". The dog following his tail. The very definition of insanity right there.

Build proof for yourself that this works. Follow the rules in post 1 and keep following them. Make screenshots of every trade and its outcome, and evaluate at the end of the day. You will see a pattern emerge over time. Correct your errors. Rinse and repeat.

The majority of people fail because they want to be "Yale-ies" trying to predict the future. You can try until you weigh an ounce but it won't work.
Another reason people fail is because they fall into other cognitive bias traps (here is a list https://en.wikipedia.org/wiki/List_of_cognitive_biases )

Irrespective of what system you decide to trade, you will in fact trade your "self". You fight your "self", not the market. The market goes up and down, only you can make the difference for you and nobody else. You decide: success or not.

All the simple ingredients for success are in post 1. Just DO it.

Great thread you have here TooSlow
It takes courage to grow up and become who you really are - E.E. Cummings
  • #2,873
  • Jul 3, 2016 12:10pm Jul 3, 2016 12:10pm
Quoting PippyTheGrt
{quote} Exactly. People like to make their own decisions, you'd like to think. Is that really true ? Or are hidden agenda's running ones internal system ? Either you decide to use a simple trading system with a clear, small, defined set or rules OR you don't. There are no other choices. YOU, the trader, makes that decision. It is a decision out of free will, nobody else involved in that decision but you. Unfortunately, these voices inside your head (aka "inner monkey") tell you to do otherwise. So you make a decision ("yes I'm going to use this...
Guys here i have started to reconize that there are 2 forms of blindnes: In eyes and minde! Most of us here (newbies) belong to 2 one....
  • #2,874
  • Jul 3, 2016 4:13pm Jul 3, 2016 4:13pm
Some answers to your questions Too Slow

Who is actually trading this method with real money?
Me, but only 0.01 lot size until i master applying the rules correctly then i will increase my lot size, i am not a believer in trading with demo accounts, demo accounts aren't real and hence you have no emotions to deal with when trading as you have nothing on the line to lose, there are no psychological battles to be fought and won/controlled when using demo....so that's why i trade with real money straight away and if you can't afford to trade and lose 10 cents a pip then go away and save up until you can....others will disagree and they are welcome to, these are just my thoughts and how i apply them to myself.

Who is trading only one pair?
not me, i am trading 3 pairs as i am capable of monitoring 3 pairs and i have an EA that moves my SL to BE once i have placed a trade and the trade moves in my favour, so i don't have to be watching it all the time.

Who is having success trading this method?
Yes i am having early success, but only when i see my account still in profit after one year of using this strategy will i truly consider it successful, its the long term game that matters in trading.

Who is ready to abandon this method?
Not a chance!...this strategy is amazing!

Who is afraid to trade this method?
Not me!...i am straight into it as you can see.
  • #2,875
  • Jul 3, 2016 4:43pm Jul 3, 2016 4:43pm
Quoting MichaelG
{quote} Hi TooSlow, One question please if I may. Is this post directed at me specifically? Thankyou
No.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,876
  • Jul 3, 2016 5:29pm Jul 3, 2016 5:29pm
Quoting TooSlow
{quote} How many bear M1 candles in a row? How many bear M5 candles in a row? This is simple.
How many bear M1 candles in a row?
3 bars in a row before the candle that created H1[6] Open Low and 2 bars in a row before the bar that triggered your entry.

How many bear M5 candles in a row?
9 bars in a row a bit before the candle that created H1[6] Open Low.

See below your chart and related M1 and M5 chart to double check my answers if I correctly interpreted your questions.

TooSlow, I didn't understand what are you pointing out with these 2 question?
Please advice.

Thanks
Merka
Attached Image(s) (click to enlarge)
Click to Enlarge Name: TooSlow USDCAD H1.png Size: 39 KB
Click to Enlarge Name: USDCADM1.png Size: 24 KB
Click to Enlarge Name: USDCADM5.png Size: 27 KB
  • #2,877
  • Jul 3, 2016 6:27pm Jul 3, 2016 6:27pm
Quoting SniperNZ
Some answers to your questions Too Slow Who is actually trading this method with real money? Me, but only 0.01 lot size until i master applying the rules correctly then i will increase my lot size, i am not a believer in trading with demo accounts, demo accounts aren't real and hence you have no emotions to deal with when trading as you have nothing on the line to lose, there are no psychological battles to be fought and won/controlled when using demo....so that's why i trade with real money straight away and if you can't afford to trade and...
Thank you for answering.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,878
  • Jul 3, 2016 6:29pm Jul 3, 2016 6:29pm
Quoting PippyTheGrt
{quote} The majority of people fail because they want to be "Yale-ies" trying to predict the future...
"Yale Students" as opposed to rats?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,879
  • Jul 3, 2016 6:32pm Jul 3, 2016 6:32pm
Quoting Merka
{quote} How many bear M1 candles in a row? 3 bars in a row before the candle that created H1[6] Open Low and 2 bars in a row before the bar that triggered your entry. How many bear M5 candles in a row? 9 bars in a row a bit before the candle that created H1[6] Open Low. See below your chart and related M1 and M5 chart to double check my answers if I correctly interpreted your questions. TooSlow, I didn't understand what are you pointing out with these 2 question? Please advice. Thanks Merka {image} {image} {image}...
Maybe you did not read the posts about counting candles in a row.
How many times do candles go 4 in a row before they change color?
How many times do candles go 5 or more in a row before they change color?
Knowing statistics gives you an edge.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,880
  • Jul 3, 2016 7:11pm Jul 3, 2016 7:11pm
Quoting TooSlow
{quote} "Yale Students" as opposed to rats?
lol

Yes, rumpled rats
It takes courage to grow up and become who you really are - E.E. Cummings
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