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Highest Open / Lowest Open Trade

  • #3,961
  • Jul 21, 2016 5:56pm Jul 21, 2016 5:56pm
Quoting TooSlow
Latest template and indicator version. {file} {file}
Thank you mate!
  • #3,962
  • Jul 21, 2016 5:56pm Jul 21, 2016 5:56pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,963
  • Jul 21, 2016 6:21pm Jul 21, 2016 6:21pm
Quoting kleybenny
My first trade with this system: +6 Pips {image} Thank you tooslow!
Well done but just a reminder to be on the safe side that TooSlow mentioned several times before
The rule says to sell or buy on the line. Your entry was not on the H1[8] Lower Open line.
Said that, pips are always pips specially when green.

Cheers.
Merka
  • #3,964
  • Jul 21, 2016 7:20pm Jul 21, 2016 7:20pm
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Highest/Lowest open trade can be adapted to daily.
Draw the last 5 daily opens.
Draw the weekly high/low for the current and previous week.

Study the chart until it is obvious.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,965
  • Jul 21, 2016 7:39pm Jul 21, 2016 7:39pm
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Another indicator enhancement.
Set Trend_Bars input to zero and the indicator draws the line in same direction until a higher or lower open.
Easy to see how many bars in a row have higher/lower opens.
Set Draw_Trend input to false and no line drawn.
Attached File(s)
File Type: mq4 smHiLoOpen Lines_v1.2.mq4   22 KB | 492 downloads
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,966
  • Jul 21, 2016 7:41pm Jul 21, 2016 7:41pm
Shouldn't the download count for the indicator and template be the same?

Newcomers to the method should be using the tools provided until successful.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,967
  • Jul 21, 2016 8:27pm Jul 21, 2016 8:27pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,968
  • Jul 21, 2016 8:35pm Jul 21, 2016 8:35pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,969
  • Jul 21, 2016 8:36pm Jul 21, 2016 8:36pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,970
  • Jul 21, 2016 8:41pm Jul 21, 2016 8:41pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,971
  • Jul 21, 2016 8:48pm Jul 21, 2016 8:48pm
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Start to like the Asian session
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,972
  • Jul 22, 2016 1:17am Jul 22, 2016 1:17am
GBPUSD M1 SELL STOP
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  • #3,973
  • Jul 22, 2016 1:22am Jul 22, 2016 1:22am
Quoting TooSlow
{image} Highest/Lowest open trade can be adapted to daily. Draw the last 5 daily opens. Draw the weekly high/low for the current and previous week. Study the chart until it is obvious.
GOOD MAN
  • #3,974
  • Jul 22, 2016 2:21am Jul 22, 2016 2:21am
Quoting TooSlow
{image} Highest/Lowest open trade can be adapted to daily. Draw the last 5 daily opens. Draw the weekly high/low for the current and previous week. Study the chart until it is obvious.
Thanks.I'll study this new setup and post my progress.Regards.Merka
  • #3,975
  • Jul 22, 2016 4:37am Jul 22, 2016 4:37am
Tooslow, I have a few questions:

1. How we decide, is the sl too far away or not? Because for example, when my sl is 20 pips away, but I take mostly profit at only 5 or 10 pips, than the r:r ratio is not so good. Is that important? Or do you trade every setup doesnt matter how far the sl is? Because sl is daily low or high and can be far away.

2. How do you handle news? 30 min before and 15 min after no trade?

3. Do you trade all pairs?

4. why you have in your pictures a 4h candle indicator? I thought we look at 1h high and low opens and the extrems of the day and previous day and take the trade on m5 or m15. Is that right?

Thank you mate

Ben
  • #3,976
  • Jul 22, 2016 4:47am Jul 22, 2016 4:47am
Who has gotten this beauty? I haven't....
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  • #3,977
  • Jul 22, 2016 4:58am Jul 22, 2016 4:58am
Quoting Merka
{quote} Here you go mates. Direct link to the video mentioned by TooSlow: "Qhttps://www.youtube.com/watch?v=ydK8TxMotzw" Cheers Merka Edit: Please remove the letter "Q" at the beginning of the link.
Too Slow / Merka,

thank you for the youtube link. Helps to see the method explained in video format in addition to Too Slow's charts and Michael's brilliant summary.
  • #3,978
  • Jul 22, 2016 7:13am Jul 22, 2016 7:13am
EURUSD is struggling to go up
  • #3,979
  • Jul 22, 2016 7:16am Jul 22, 2016 7:16am
I have followed this thread for several weeks now & thought I would share my views on this method of trading.
If you follow the rules which there are only a few of them & trade this method the way the alligator hunts, using patience
& letting the prey (the trade develop) come to you, you will be successful beyond your belief. Patience is the key.
Let the trade develop & come to you & then strike. During the time that I have followed this thread I have been
also trading this method on a live account across 4 or 5 pairs & the results are outstanding. If you can't set with
patience waiting on the trade to develop, then this might not be for you. No I haven't posted any charts, but it
works & works well if you follow the rules.

TooSlow you have no doubt shared a way for the traders to fish. I am a big fan of Bruce Lee as it appears you are too.
Than you for sharing & encouraging everyone along the way.
_________________________________


"It Is Better To Light A Candle Than To Curse The Darkness"
  • #3,980
  • Jul 22, 2016 7:58am Jul 22, 2016 7:58am
Quoting kleybenny
Tooslow, I have a few questions: 1. How we decide, is the sl too far away or not? Because for example, when my sl is 20 pips away, but I take mostly profit at only 5 or 10 pips, than the r:r ratio is not so good. Is that important? Or do you trade every setup doesnt matter how far the sl is? Because sl is daily low or high and can be far away. 2. How do you handle news? 30 min before and 15 min after no trade? 3. Do you trade all pairs? 4. why you have in your pictures a 4h candle indicator? I thought we look at 1h high and low opens and the extrems...
1. How we decide, is the sl too far away or not? Because for example, when my sl is 20 pips away, but I take mostly profit at only 5 or 10 pips, than the r:r ratio is not so good. Is that important? Or do you trade every setup doesnt matter how far the sl is? Because sl is daily low or high and can be far away.


Empty your mind.
Leave behind all that you have learned about trading.
Most of it does not work for you.

The stop loss is never to far or too close.
The stop loss is where it is.

Enter the trade at the appropriate level when price reaches that level.
Do not be early.
Do not be late.


2. How do you handle news? 30 min before and 15 min after no trade?

News is only mentioned to alert traders to trade with extreme caution and to be quick in banking pips.

3. Do you trade all pairs?

When you first deploy this method only trade one pair.
Stick with trading that pair until you have mastered the method.
You will have mastered the method when you cease to have questions or doubts.


4. why you have in your pictures a 4h candle indicator? I thought we look at 1h high and low opens and the extrems of the day and previous day and take the trade on m5 or m15. Is that right?

Obviously, you have not taken the time to read this thread.
Please do yourself a favor and read this thread.
The answers are contained within.

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