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Highest Open / Lowest Open Trade

  • #4,301
  • Jul 29, 2016 4:49am Jul 29, 2016 4:49am
Another example. Trading back to the daily open was a good chunk out of the ATR I'm sure.

Of course, this all depends on your personal objectives.
Have you decided on your own trading objectives ?
If not, for what reason ?

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  • #4,302
  • Jul 29, 2016 4:50am Jul 29, 2016 4:50am
Quoting kleybenny
Tooslow, pippy and the other Friends, One question: let's say a trade triggers, but right after that it goes in wrong direction, before reached 3,4 or 5 pips of profit, would you than let the trade run and trust your stop loss or would you close the trade at a specific stage of loss? What is your opinion? Thank you
Take the 10 trade challenge and discover what works best for you.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,303
  • Jul 29, 2016 4:53am Jul 29, 2016 4:53am
Quoting archishard
{quote} Could you care to explain me the 1st rule? I don't understand what is the meaning of a breakout bar for this system.
Did you read post #1?
Did you search the thread for "breakout bar"?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,304
  • Jul 29, 2016 4:59am Jul 29, 2016 4:59am
When I am looking at the charts, why do I have to use H4 timeframe and M15 timeframe? For as far I understood we are using H1, D1 and for opening the trade M5, right? Please tell me what do I miss?
Keep it simple without too many crappy indicators!
  • #4,305
  • Jul 29, 2016 5:03am Jul 29, 2016 5:03am
Quoting PippyTheGrt
{quote} It refers to the current H1 bar which is being formed now, making a higher high or a lower low than a previous H1. You are wanting to see price turn around for this entry method, and you want to see a lower high (from long to short) and a higher low (from short to long) in terms of market structure. A breakout bar is more of a continuation structure than a reversal (which you want to see).

Thank you, is clearer now for me.
  • #4,306
  • Jul 29, 2016 5:04am Jul 29, 2016 5:04am
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The ASK marker is "stuck".
Not moving down.
What is the market telling?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,307
  • Jul 29, 2016 5:09am Jul 29, 2016 5:09am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,308
  • Jul 29, 2016 5:16am Jul 29, 2016 5:16am
Quoting PippyTheGrt
{quote} Thanks. This is not rocket science Anybody can post these charts here. The "indicatrs" are freely available. This is just one way to get in the market. There are many more ways. Important thing is to create a process of habits around it and build a routine. It will become automatic after a while, just like driving a car. Once the basics are known, you can bend the rules and take a shot at going short on the EURUSD example above anyway. But one needs to learn to follow his own rules in the first place as a baseline....
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,309
  • Jul 29, 2016 5:18am Jul 29, 2016 5:18am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,310
  • Jul 29, 2016 5:21am Jul 29, 2016 5:21am
Quoting luvene
When I am looking at the charts, why do I have to use H4 timeframe and M15 timeframe? For as far I understood we are using H1, D1 and for opening the trade M5, right? Please tell me what do I miss?
Welcome to the thread, luvene.


why do I have to use H4 timeframe and M15 timeframe?

They give you clues.

For as far I understood we are using H1, D1 and for opening the trade M5, right?

We use H1 highest/lowest opens.
We use D1 open, high and low.
Price is the same on all time frames.


Please tell me what do I miss?

A lot.
Almost everything.
Until you read the thread.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,311
  • Jul 29, 2016 5:22am Jul 29, 2016 5:22am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,312
  • Jul 29, 2016 5:24am Jul 29, 2016 5:24am
EUR USD
tight tp

EDIT. FILLED WHILE POSTING
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90% of traders use TA, indicators and prediction
  • #4,313
  • Jul 29, 2016 5:26am Jul 29, 2016 5:26am
GBP JPY

tight TP.
this looks scary btw.
tightened stop loss few near 136.
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90% of traders use TA, indicators and prediction
  • #4,314
  • Jul 29, 2016 5:27am Jul 29, 2016 5:27am
Newcomers, welcome to the thread.

You will probably have not taken the time to read the thread.
Now over 200 pages.
Most of which are charts.
You will probably have questions.
Chances are those questions have been asked and answered.
Take the time to read the thread.
Or use "Search this thread" and put in the keywords of your question.
No answer to your questions?
Ask away.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,315
  • Jul 29, 2016 5:28am Jul 29, 2016 5:28am
before anyone asks, these are the settings I'm using:

entry price is exactly the H1 highest / lowest open.
SL is few pips away from current day top / low.

I set tight TP for 9 pips max in GJ and 5-7pips all the others.

retreiving very interesting results
90% of traders use TA, indicators and prediction
  • #4,316
  • Jul 29, 2016 5:33am Jul 29, 2016 5:33am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,317
  • Jul 29, 2016 5:35am Jul 29, 2016 5:35am
Quoting _BBKing_
GBP JPY tight TP. this looks scary btw. tightened stop loss few near 136. {image}

stoped out.
I knew that! I should have moved stop @be.

btw price went in profits of 3-4 pips many times.
90% of traders use TA, indicators and prediction
  • #4,318
  • Jul 29, 2016 5:38am Jul 29, 2016 5:38am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,319
  • Jul 29, 2016 5:41am Jul 29, 2016 5:41am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,320
  • Jul 29, 2016 5:42am Jul 29, 2016 5:42am
Quoting _BBKing_
{quote} stoped out. I knew that! I should have moved stop @be. btw price went in profits of 3-4 pips many times.
No you did not.
No one knows.
You have to react.
Quickly.

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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