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Highest Open / Lowest Open Trade

  • #3,481
  • Jul 15, 2016 4:04am Jul 15, 2016 4:04am
Quoting mike_g
anyone got stopped out with a loss using this method?
Yes mate
  • #3,482
  • Jul 15, 2016 4:08am Jul 15, 2016 4:08am
Quoting orestebufalo
{quote} I apologize. I will see if I have understood the strategy. I'm studying and I find it really exciting EURUSD H1 M15 {image} {image}
Good job orestebufalo. that's all correct by the rules.
  • #3,483
  • Jul 15, 2016 4:15am Jul 15, 2016 4:15am
Just a clarification about not waiting for the bar to close. see the picture.

Do we trade short if ever a candle opens within the area of interest on the m15 chart, even if the new h1 candle the made the new higher open is still not complete?
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  • #3,484
  • Jul 15, 2016 4:27am Jul 15, 2016 4:27am
When trading directly from H1, can we still reference the prior higher open and trade short when the new H1 candle that made a new higher open eventually came back to the prior higher open price?
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  • #3,485
  • Jul 15, 2016 6:13am Jul 15, 2016 6:13am
Quoting TooSlow
{image} During the Asian session the highest H1 open may be the highest H1 open for the day. And the lowest H1 open may be the lowest H1 open for the day. This is time when a trade may run for many, many pips. {image}
Cheers for the tip Too Slow, this type of information is very handy to know when trading this strategy.

Thanks mate!
  • #3,486
  • Jul 15, 2016 6:47am Jul 15, 2016 6:47am
Quoting fibo38
{image}
Your entry is late.
Are you waiting for the bar to close?
See Rule #7
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,487
  • Jul 15, 2016 6:51am Jul 15, 2016 6:51am
Quoting orestebufalo
{quote} I apologize. I will see if I have understood the strategy. I'm studying and I find it really exciting EURUSD H1 M15 {image} {image}
Your markings are in error.
You do not understand at all.
Have you read Post #1?
Look at the document/posts of MichaelG.

There is nothing sexy or exciting about this.
Simply waiting for a new daily high or low to occur.
No fancy looking indicators, only lines.
One need not be very smart, only consistent, to be profitable.
Many stop by to look but few return.
Nothing much new from day to day, just a rerun of the same.
Subscribe if you like.

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,488
  • Jul 15, 2016 6:53am Jul 15, 2016 6:53am
Quoting mike_g
anyone got stopped out with a loss using this method?
Yes.
Of course.
This is trading.
Expect losses from time to time.

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,489
  • Jul 15, 2016 6:55am Jul 15, 2016 6:55am
Quoting MichaelG
{quote} Good job orestebufalo. that's all correct by the rules.
No.
It is not.
Obviously, you have not understood the lessons.

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,490
  • Jul 15, 2016 6:58am Jul 15, 2016 6:58am
Quoting mike_g
Just a clarification about not waiting for the bar to close. see the picture. Do we trade short if ever a candle opens within the area of interest on the m15 chart, even if the new h1 candle the made the new higher open is still not complete? {image}
H1 green.
M15 red.
Both in the area of interest.
Which direction is price moving when it reaches the highest/lowest H1 open?
What color is H1 when price reaches the open?

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"Successful people ask better questions, and as a result, they get better answers." - Tony Robbins

Socratic method is named after the classical Greek philosopher Socrates. It is a form of inquiry and discussion between individuals, based on asking and answering questions to stimulate critical thinking and to illuminate ideas.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,491
  • Jul 15, 2016 7:04am Jul 15, 2016 7:04am
Quoting mike_g
When trading directly from H1, can we still reference the prior higher open and trade short when the new H1 candle that made a new higher open eventually came back to the prior higher open price? {image}
Read the rules.
Learn the rules.
Apply the rules.
Master the rules.
Then, forget the rules and trade.

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,492
  • Jul 15, 2016 7:05am Jul 15, 2016 7:05am
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Waiting
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,493
  • Jul 15, 2016 7:16am Jul 15, 2016 7:16am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,494
  • Jul 15, 2016 7:22am Jul 15, 2016 7:22am
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Adding lines and indicators.
Why?
Of what use are they?
Entry?
Do not enter?
Exit?
Target?
Do they convey useful information?

Have a reason for doing.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,495
  • Jul 15, 2016 7:24am Jul 15, 2016 7:24am
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All lines crossed are removed.
What is left?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,496
  • Jul 15, 2016 7:27am Jul 15, 2016 7:27am
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RED news at half past hour.


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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,497
  • Jul 15, 2016 7:33am Jul 15, 2016 7:33am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,498
  • Jul 15, 2016 7:37am Jul 15, 2016 7:37am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,499
  • Jul 15, 2016 7:48am Jul 15, 2016 7:48am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,500
  • Jul 15, 2016 7:54am Jul 15, 2016 7:54am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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