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Highest Open / Lowest Open Trade

  • #4,181
  • Jul 26, 2016 8:16pm Jul 26, 2016 8:16pm
Quoting Skurgent
https://charts.mql5.com/11/964/nzdus...al-markets.png Hey, I've been following the thread and decided to give the method a shot. Are you still allowed to make the trade if the current bar was the new high/new low, such as in the picture in the link below? Or do you have to wait for another bar afterwards? I beat the spread in this trade but the commission caused the loss... And can someone also give me an example for a 5min/15min breakout bar. Cheers!
Welcome to the thread, Skurgent.

Are you still allowed to make the trade if the current bar was the new high/new low,

NO.
Violates rule #1.

Or do you have to wait for another bar afterwards?

Yes.

And can someone also give me an example for a 5min/15min breakout bar.

Bar making a new daily high/low is a breakout bar.
Bar crossing above yesterday's high or below yesterday's low is a breakout bar.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,182
  • Jul 27, 2016 12:48am Jul 27, 2016 12:48am
Hi,

I have a question: we said we never want to trade against the h4 candle direction right? But when for a buy for example the lower h4 is over the lower h1 open, than the h4 candle is red if we passing the lower h1 open. The only possibility not to trade against h4 is when lower h4 = lower h1 open right? But that means that we get our New levels every 4 hours and not every hour and that we never trade from h1 lower level but from h4? Something I missing I think please advise. Thank you
  • #4,183
  • Jul 27, 2016 12:58am Jul 27, 2016 12:58am
Quoting kleybenny
Hi, I have a question: we said we never want to trade against the h4 candle direction right? But when for a buy for example the lower h4 is over the lower h1 open, than the h4 candle is red if we passing the lower h1 open. The only possibility not to trade against h4 is when lower h4 = lower h1 open right? But that means that we get our New levels every 4 hours and not every hour and that we never trade from h1 lower level but from h4? Something I missing I think please advise. Thank you
We never said that!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,184
  • Jul 27, 2016 1:00am Jul 27, 2016 1:00am
Quoting TooSlow
{quote} We never said that!
Ah ok, than I misunderstood. Thank you
  • #4,185
  • Jul 27, 2016 1:12am Jul 27, 2016 1:12am
Quoting TooSlow
{quote}
Please look this statement. I understood, that it is better to trade with h4 candle colour
  • #4,186
  • Jul 27, 2016 1:53am Jul 27, 2016 1:53am
Quoting kleybenny
{quote} Please look this statement. I understood, that it is better to trade with h4 candle colour
Hi TooSlow and kleybenny...
TooSlow, I think he is referring to your post 4133 in response to Pippy's post if that helps. Cheers
  • #4,187
  • Jul 27, 2016 2:23am Jul 27, 2016 2:23am
Good morning,

so far got 2 trades on cable.
1 loss x 5pips
1 win x 10pips.

chart

Attached Image (click to enlarge)
Click to Enlarge Name: prov.png Size: 17 KB


account detail (size is blanked because it is not this post's topic)

Attached Image (click to enlarge)
Click to Enlarge Name: prov2.png Size: 17 KB


So, reasons for the loss:

1. I did not move stop loss @BE when price went somewhere +8pips.
2. I did not close the trade when price was somewhere +8pips (target was +10 or +11)

While reasons for the win

1. Price was also in good intraday support area (prev. low).
2. I moved stop loss @BE when price met prev m5 swing
3. I closed @prev m5 swing (+10).

Price could go now far higher. I don't care because:

1. I have other 2 buy pos running in this instrument
2. I am looking to get some 2-6 quick intraday positions for a 10 to 30pips max.

I hope I am clear


EDIT: btw price would have met the target in the winning trade @ 1.3129 without turning back to my entry.
90% of traders use TA, indicators and prediction
  • #4,188
  • Jul 27, 2016 2:58am Jul 27, 2016 2:58am
long again 3109

Attached Image (click to enlarge)
Click to Enlarge Name: prov.png Size: 133 KB


the level is 3105. so till it holds... that is! anyway I will be ready to cut it quickly.
let's see
90% of traders use TA, indicators and prediction
  • #4,189
  • Jul 27, 2016 3:02am Jul 27, 2016 3:02am
Quoting _BBKing_
long again 3109 {image} the level is 3105. so till it holds... that is! anyway I will be ready to cut it quickly. let's see

STOP @BE

atm +15pips and counting.
90% of traders use TA, indicators and prediction
  • #4,190
  • Jul 27, 2016 3:11am Jul 27, 2016 3:11am
Quoting _BBKing_
{quote} STOP @BE atm +15pips and counting.

out +10

2 wins x tot 20p
1 loss x 5.

net 15 so far
90% of traders use TA, indicators and prediction
  • #4,191
  • Jul 27, 2016 5:37am Jul 27, 2016 5:37am
would be nice to have a sound alert when M15 (or M5) opens above/below H1 Open High/Low.
  • #4,192
  • Jul 27, 2016 5:44am Jul 27, 2016 5:44am
@TooSlow how do you get the little grey lines on your chart on post 4066 page 204 ? ​
  • #4,193
  • Jul 27, 2016 6:04am Jul 27, 2016 6:04am
Quoting _BBKing_
long again 3109 {image} the level is 3105. so till it holds... that is! anyway I will be ready to cut it quickly. let's see
BB king, I'd be interested on creating a mql version of the strategy. I hope to get TooSlow consent.I don't personally have enough time to trade daily.The EA I will write will have a daily money target to hit and then start again the day after.It would be good to start with identify a repetitive patter breakout, write down the rules for buy and sell and then I'll integrate with money management.What do you think
  • #4,194
  • Jul 27, 2016 7:25am Jul 27, 2016 7:25am
Hi guys i'm back after my vacation i hope all you are doing well. These is my trade for today
Attached Image (click to enlarge)
Click to Enlarge Name: trade.png Size: 35 KB
  • #4,195
  • Jul 27, 2016 7:27am Jul 27, 2016 7:27am
Quoting nozzer
@TooSlow how do you get the little grey lines on your chart on post 4066 page 204 ? ​
google "modified Sweet Spots Gold "
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,196
  • Jul 27, 2016 7:28am Jul 27, 2016 7:28am
Quoting archishard
{quote} BB king, I'd be interested on creating a mql version of the strategy. I hope to get TooSlow consent.I don't personally have enough time to trade daily.The EA I will write will have a daily money target to hit and then start again the day after.It would be good to start with identify a repetitive patter breakout, write down the rules for buy and sell and then I'll integrate with money management.What do you think
Consent not necessary.
Rules have been written down.
Read the thread.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,197
  • Jul 27, 2016 7:32am Jul 27, 2016 7:32am
Quoting mizi123
Hi guys i'm back after my vacation i hope all you are doing well. These is my trade for today {image}
Hey Mizi, hope you had a nice break, and you didn't spend all your account equity on your holiday. Nice to see you back. A few changes to the Indi since you have been away if you didn't know. Not sure which post, but I am sure TooSlow will point you in the right direction.
Cheers
Michael
  • #4,198
  • Jul 27, 2016 7:36am Jul 27, 2016 7:36am
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow2.png Size: 48 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,199
  • Jul 27, 2016 7:37am Jul 27, 2016 7:37am
Quoting Xman43
would be nice to have a sound alert when M15 (or M5) opens above/below H1 Open High/Low.
Hi xman these EA ofers you that what you are locking for it works only on 15 M timeframe
When all the data's on yellow quadrat comes in alaignment you get an signal, but still you have to respect rules of TOOSLOW for entry end exits don't forget about that~~!!!
Attached Image (click to enlarge)
Click to Enlarge Name: ala.png Size: 57 KB
Attached File(s)
File Type: ex4 smHiLO DashBoard EA_v1.7.ex4   88 KB | 586 downloads
  • #4,200
  • Jul 27, 2016 7:43am Jul 27, 2016 7:43am
Quoting MichaelG
{quote} Hey Mizi, hope you had a nice break, and you didn't spend all your account equity on your holiday. Nice to see you back. A few changes to the Indi since you have been away if you didn't know. Not sure which post, but I am sure TooSlow will point you in the right direction. Cheers Michael
Thanc you Michael i have used risk managment on vacation i don't have spend to much i realy fill like brand new yee i will chek the thread ....
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