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Highest Open / Lowest Open Trade

  • #3,621
  • Jul 17, 2016 10:21pm Jul 17, 2016 10:21pm
Quoting TooSlow
{image} What's "wrong" with this picture?
Range bound market?
  • #3,622
  • Edited 11:04pm Jul 17, 2016 10:48pm | Edited 11:04pm
Quoting TooSlow
{quote} No problem at all, yonnie. You are correct, we do not know what will be the high/low of the day until the day is over. However, the current high/low of the day has the potential to be the high/low of the day. That is why this trade works and why one must use stops. Look at the charts posted. Are the trades apparent?
Sir, i wonder if we can actually know ahead about the direction accurately without fail, so that we can trade confidently otherwise we are gambling with the market ?
  • #3,623
  • Jul 17, 2016 10:58pm Jul 17, 2016 10:58pm
Quoting TooSlow
{quote} RISK = POSITION SIZE * STOP LOSS. Risk should be kept CONSTANT. The larger the stop loss, the smaller the position size.
Thank you Too Slow. I realized that as I was thinking about this approach of using the H4 HO/LO instead of H1.

We would definitely need more patience firstly to wait for the entry and then to allow the trade to work.

Thank you
  • #3,624
  • Jul 17, 2016 11:01pm Jul 17, 2016 11:01pm
Quoting TooSlow
M1 highest open >= M5 highest open >= M15 highest open >= M30 highest open >= H1 highest open >= H4 highest open M1 lowest open <= M5 lowest open <= M15 lowest open <= M30 lowest open <= H1 lowest open <= H4 lowest open How can you use this information to decide whether price is going up or going down?
I will take a stab at this:
The lower the timeframe, the higher the odds of it being closer to the Highest/ Lowest open. The lower the risk but higher the odds of being stopped.
  • #3,625
  • Jul 17, 2016 11:07pm Jul 17, 2016 11:07pm
anyone has this indicator shown on blue box? kindly please upload. any other bar timer should be fine just as long as they do not have huge display text.
Attached Image (click to enlarge)
Click to Enlarge Name: indi.PNG Size: 29 KB
  • #3,626
  • Jul 17, 2016 11:17pm Jul 17, 2016 11:17pm
Quoting TooSlow
{image} What's "wrong" with this picture?
the distance between the high and low interest zones are too close to each other that anytime soon, one of them will spawn a candle that will be a breakout candle.
  • #3,627
  • Jul 18, 2016 1:09am Jul 18, 2016 1:09am
Quoting stychong
{quote} Range bound market?
No.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,628
  • Jul 18, 2016 1:10am Jul 18, 2016 1:10am
Quoting mike_g
{quote} the distance between the high and low interest zones are too close to each other that anytime soon, one of them will spawn a candle that will be a breakout candle.
No.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,629
  • Jul 18, 2016 1:11am Jul 18, 2016 1:11am
Quoting courier12
{quote} I will take a stab at this: The lower the timeframe, the higher the odds of it being closer to the Highest/ Lowest open. The lower the risk but higher the odds of being stopped.
Please reread the question.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,630
  • Edited 1:37am Jul 18, 2016 1:22am | Edited 1:37am
Some nice scalps using H1 highest / lowest open method tonight.. cancelled orders had to do with EA testing not this system. A few ~BE trades in the mix too - always better than a loss!

Attached Image (click to enlarge)
Click to Enlarge Name: 007.gif Size: 28 KB


Nice opportunity for a H1 lowest open trade on USDJPY but missed it.

Attached Image (click to enlarge)
Click to Enlarge Name: 008.gif Size: 10 KB


- GFx
  • #3,631
  • Jul 18, 2016 2:02am Jul 18, 2016 2:02am
Quoting TooSlow
{quote} Please reread the question.
Another stab: Wait for the shorter timeframe candle to cross the higher timeframe candle open before entering? That way, price is going in ur intended direction at time of entry.
  • #3,633
  • Jul 18, 2016 2:20am Jul 18, 2016 2:20am
What's "wrong" with this picture?

Nothing
  • #3,634
  • Jul 18, 2016 2:43am Jul 18, 2016 2:43am
Quoting TooSlow
{image} What's "wrong" with this picture?
There's a gap from Friday close that needs to be filled.
  • #3,635
  • Jul 18, 2016 5:40am Jul 18, 2016 5:40am
Quoting mike_g
anyone has this indicator shown on blue box? kindly please upload. any other bar timer should be fine just as long as they do not have huge display text. {image}
Hey Mike, here is a great little indie that gives you the time to candle close and the spread for that pair. its nice and small and you can position it anywhere you want on the chart and change the colour. It works really well, hope that helps.

SniperNZ
Attached File(s)
File Type: ex4 TRS.ex4   3 KB | 475 downloads
  • #3,636
  • Jul 18, 2016 7:04am Jul 18, 2016 7:04am
Quoting SniperNZ
{quote} Hey Mike, here is a great little indie that gives you the time to candle close and the spread for that pair. its nice and small and you can position it anywhere you want on the chart and change the colour. It works really well, hope that helps. SniperNZ {file}
Thanks for this. Exactly what I was looking for.
  • #3,637
  • Jul 18, 2016 7:20am Jul 18, 2016 7:20am
Quoting TooSlow
How many trades per day would you like to average? How many pips per trade would you like to average? I am curious.
50pips per day with ideally less than 5 trades.Cheers.Merka
  • #3,638
  • Jul 18, 2016 7:22am Jul 18, 2016 7:22am
Quoting courier12
{quote} Another stab: Wait for the shorter timeframe candle to cross the higher timeframe candle open before entering? That way, price is going in ur intended direction at time of entry.
Good answer.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,639
  • Jul 18, 2016 7:22am Jul 18, 2016 7:22am
Quoting toktok
What's "wrong" with this picture? Nothing
No.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,640
  • Jul 18, 2016 7:23am Jul 18, 2016 7:23am
Quoting Merka
{quote} 50pips per day with ideally less than 5 trades.Cheers.Merka
How many pips per trade?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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