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Highest Open / Lowest Open Trade

  • #2,921
  • Jul 4, 2016 1:06pm Jul 4, 2016 1:06pm
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Still counting?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,922
  • Jul 4, 2016 1:27pm Jul 4, 2016 1:27pm
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Empty your mind for a few moments.

The market determines where to enter long ( H1 lowest open of current day ).
And the stop is current daily low - 1 or more pips.
You want to enter after price gets between those to price levels.

The market determines where to enter short ( H1 highest open of current day ).
And the stop is current daily high + spread + 1 or more pips.
You want to enter after price gets between those to price levels.

Either the trade will result in profit or result in loss.
You have no control over the result.
None.

Chart time period has no effect.
Change the chart to any time period.
What changes?
The H1 lowest open is still the H1 lowest open.
The H1 highest open is still the H1 highest open.
The current daily low is still the current daily low.
The current daily high is still the current daily high.

The rules are guidelines to help you understand.
The rules are suggestions to follow.
Following the rules does not guarantee a winning trade.
Nothing can guarantee a winning trade.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,923
  • Jul 4, 2016 1:29pm Jul 4, 2016 1:29pm
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Did you count to 5?
How many times did you count to 5?
What did the market tell you?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,924
  • Jul 4, 2016 1:52pm Jul 4, 2016 1:52pm
Hi TooSlow. My entry is in this rectangle. My entry is red arrow.
This is good entry? I try to follow rules.
This trade hit SL. Market always lead.

EDIT: When I put SL at daily high, it will be hit with ASK price?
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  • #2,925
  • Jul 4, 2016 1:57pm Jul 4, 2016 1:57pm
Quoting skljsklj1
Hi TooSlow. My entry is in this rectangle. My entry is red arrow. This is good entry? I try to follow rules. This trade hit SL. Market always lead. EDIT: When I put SL at daily high, it will be hit with ASK price? {image}
Price above yesterday's high.
NZDUSD broke out 4 H1 bars ago.


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
  • #2,926
  • Jul 4, 2016 2:01pm Jul 4, 2016 2:01pm
Quoting TooSlow
{quote} Price above yesterday's high. NZDUSD broke out 4 H1 bars ago. 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.
Yes. I did not see this. When price break through yesterday high/low, trade with caution.
I need to learn from mistake (good teacher ).
Thank you my friend.
  • #2,927
  • Jul 4, 2016 3:18pm Jul 4, 2016 3:18pm
Quoting skljsklj1
{quote} Yes. I did not see this. When price break through yesterday high/low, trade with caution. I need to learn from mistake (good teacher ). Thank you my friend.
You have been here for a while.
You never read post #1?
Failure to heed warnings usually results in losses.
Learn the hard way or learn from other people's experience.
The former usually costs more.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,928
  • Jul 4, 2016 3:37pm Jul 4, 2016 3:37pm
Quoting TooSlow
{quote} You have been here for a while.You never read post #1?Failure to heed warnings usually results in losses.Learn the hard way or learn from other people's experience.The former usually costs more.
TooSlow, believe me or not, I read first post 10 times for sure But, I dont know how I didnt see yesterday high line. I read the whole thread Trading is as simple as 1-2-3. Today I start to read this thread, I read 10 pages now. I must to say, I like Trading is as simple as 1-2-3 method more than this. I dont know why, this two methods are similiar.Thank you.
  • #2,929
  • Jul 4, 2016 4:26pm Jul 4, 2016 4:26pm
Quoting skljsklj1
{quote} TooSlow, believe me or not, I read first post 10 times for sure But, I dont know how I didnt see yesterday high line. I read the whole thread Trading is as simple as 1-2-3. Today I start to read this thread, I read 10 pages now. I must to say, I like Trading is as simple as 1-2-3 method more than this. I dont know why, this two methods are similiar.Thank you.
1-2-3 is a subset of this method.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,930
  • Jul 4, 2016 4:39pm Jul 4, 2016 4:39pm
Quoting TooSlow
{quote} 1-2-3 is a subset of this method.
Yes I know this. Entry is sometimes same.
I dont why, but I love more 1-2-3. Haha
  • #2,931
  • Jul 4, 2016 5:49pm Jul 4, 2016 5:49pm
Quoting skljsklj1
{quote} Yes, I think too. But, I think SL need to be hit with BID price, not ASK..? SL is hit with ASK price, this is reason why I dont se candle which hit SL. I didnt know that SL can be hit with ASK. P.S. I am newbie
Hi skljsklj1,
in a Sell trade, it is the ASK price that will take your stop out.
I hope this helps.
Cheers

Attached Image (click to enlarge)
Click to Enlarge Name: Bid Ask C.jpg Size: 65 KB
  • #2,932
  • Jul 4, 2016 5:49pm Jul 4, 2016 5:49pm
Hello TooSlow

Have you ever thought to automate this system?

Regards
Merka
  • #2,933
  • Jul 4, 2016 9:23pm Jul 4, 2016 9:23pm
Quoting Merka
Hello TooSlow Have you ever thought to automate this system? Regards Merka
Read through the thread.Specifications and requirements for automation have been posted.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,934
  • Jul 5, 2016 1:53am Jul 5, 2016 1:53am
Quoting skljsklj1
{quote} Yes, I think too. But, I think SL need to be hit with BID price, not ASK..? SL is hit with ASK price, this is reason why I dont se candle which hit SL. I didnt know that SL can be hit with ASK. P.S. I am newbie
Hi again skljsklj1,
you said you are a newbie, so this might help you a little. I didn't want to clog up TooSlows thread with "off thread topics", but I had trouble loading a word documents, so unfortunately, this is all I can do.
Something else that might help you out while you are learning to trade, and also learning to trade this strategy, is to avoid the M1 timeframe when looking for an entry. The M15 and M5 are normally low enough to find an entry, and it may be less stressful if you just used those timeframes until you feel okay with it. That doesn't mean you shouldn't use the M1, but it might just be a little bit "quieter" on the M15 and M5.
Hope this helps.
Cheers

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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  • #2,935
  • Jul 5, 2016 2:03am Jul 5, 2016 2:03am
Hi Too Slow

I'm a silent follower of your thread and i enjoy what i'm reading so far.
for me all is very clear and simple , it takes some effort to get it right , but if i did it i believe everyone should be able to do it.
Please keep going its very nice read everyday

Landsat
Logic will take you from A to B Imagination will take you anywhere (A.E)
  • #2,936
  • Jul 5, 2016 3:58am Jul 5, 2016 3:58am
Quoting TooSlow
{image} Did you count to 5? How many times did you count to 5? What did the market tell you?
Don't know if you already have this but you may find it interesting for the stats on continuous candles and their probabilities on a current chart..
Put in scripts folder then drag to chart.
Josh
Attached File(s)
File Type: ex4 sqConsecutiveCandlesStatistics.ex4   15 KB | 649 downloads
File Type: mq4 sqConsecutiveCandlesStatistics.mq4   4 KB | 702 downloads
nollej is power..
  • #2,937
  • Jul 5, 2016 7:07am Jul 5, 2016 7:07am
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Rule #1
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,938
  • Jul 5, 2016 7:20am Jul 5, 2016 7:20am
Inserted Video
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,939
  • Jul 5, 2016 7:24am Jul 5, 2016 7:24am
Quoting landsat
Hi Too Slow I'm a silent follower of your thread and i enjoy what i'm reading so far. for me all is very clear and simple , it takes some effort to get it right , but if i did it i believe everyone should be able to do it. Please keep going its very nice read everyday Landsat
Welcome landsat.
Thanks for stopping by.
Please subscribe.
Turn off email alerts.
Keep us posted on your progress.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,940
  • Jul 5, 2016 7:26am Jul 5, 2016 7:26am
Quoting nollej
{quote} Don't know if you already have this but you may find it interesting for the stats on continuous candles and their probabilities on a current chart.. Put in scripts folder then drag to chart. Josh {file} {file}
Thank you.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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