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Highest Open / Lowest Open Trade

  • #5,221
  • Aug 17, 2016 10:24am Aug 17, 2016 10:24am
And not even a rule bender so far !! lol

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It takes courage to grow up and become who you really are - E.E. Cummings
  • #5,222
  • Aug 17, 2016 10:26am Aug 17, 2016 10:26am
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It takes courage to grow up and become who you really are - E.E. Cummings
  • #5,223
  • Aug 17, 2016 10:36am Aug 17, 2016 10:36am
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It takes courage to grow up and become who you really are - E.E. Cummings
  • #5,224
  • Aug 17, 2016 10:50am Aug 17, 2016 10:50am
Too Slow,

Do you prefer an immedaite entry after a couple of minutes or a couple of hours post the HO / LO formed on the H1 or is it ok if price returns to the area of interest after several hours and in a different session? E.g. HO / LO is created either in the Asian or London session whereas price gets back to the area of interest in the US session.

Thank you
  • #5,225
  • Edited 12:59pm Aug 17, 2016 11:02am | Edited 12:59pm
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It takes courage to grow up and become who you really are - E.E. Cummings
  • #5,226
  • Aug 17, 2016 11:04am Aug 17, 2016 11:04am
Quoting courier12
Too Slow, Do you prefer an immedaite entry after a couple of minutes or a couple of hours post the HO / LO formed on the H1 or is it ok if price returns to the area of interest after several hours and in a different session? E.g. HO / LO is created either in the Asian or London session whereas price gets back to the area of interest in the US session. Thank you
Allow me to take a shot at it

Do the rules say anything about this ? yes/no

If yes, what do the rules say about this ?
It takes courage to grow up and become who you really are - E.E. Cummings
  • #5,227
  • Aug 17, 2016 11:34am Aug 17, 2016 11:34am
Quoting courier12
Too Slow, Do you prefer an immedaite entry after a couple of minutes or a couple of hours post the HO / LO formed on the H1 or is it ok if price returns to the area of interest after several hours and in a different session? E.g. HO / LO is created either in the Asian or London session whereas price gets back to the area of interest in the US session. Thank you
Rule #8
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,228
  • Aug 17, 2016 12:11pm Aug 17, 2016 12:11pm
Quoting PippyTheGrt
{quote} Allow me to take a shot at it Do the rules say anything about this ? yes/no If yes, what do the rules say about this ?
Thanks Pippy....probably trying to overthink.
  • #5,229
  • Aug 17, 2016 12:33pm Aug 17, 2016 12:33pm
12 years a trader and rarely a system catches my attention. There's some potential here.
  • #5,230
  • Aug 17, 2016 12:47pm Aug 17, 2016 12:47pm
Quoting aminhakim
12 years a trader and rarely a system catches my attention. There's some potential here.
Not sure how to take that

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,231
  • Aug 17, 2016 12:50pm Aug 17, 2016 12:50pm
Quoting TooSlow
{quote} Not sure how to take that {image}
I meant that the system has great potential in limiting the risk. Never underestimate those small scalp trades.
  • #5,232
  • Aug 17, 2016 12:53pm Aug 17, 2016 12:53pm
Quoting aminhakim
{quote} I meant that the system has great potential in limiting the risk. Never underestimate those small scalp trades.
Not sure what you mean?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,233
  • Aug 17, 2016 12:56pm Aug 17, 2016 12:56pm
Quoting courier12
{quote} Thanks Pippy....probably trying to overthink.
My pleasure.

The thinking part is what gets us in trouble. Been there, done that
It takes courage to grow up and become who you really are - E.E. Cummings
  • #5,234
  • Aug 17, 2016 1:00pm Aug 17, 2016 1:00pm
Quoting mahmood.tava
{quote} salam micheal tanx for your attention first of all i explained it that EA use points not pip you should enter your sl in points if you enter 30 means 3 pip and if you want 20 pip sl you must enter 200 "Also, the entry price of the trade should always be the Lowest/Highest H1 Open price. That was 1.45482 on this chart. But the EA placed this trade 1.6 pips passed that." you r absolutly right it is SPREAD when we have enter buy position in BID price automaticly you enter in ASK price and the spread will count means when bid price rise to H1_lowest_open...
Dear Mahmood

I pm'ed you for your attention and now I'm posting here. First of all let me thank for the great job you did with the EA. I was wondering if you could add an option for a limit order. Example (When a higher H1 open happens and now we're waiting for the 15 min candle or 5 min candle, once the candle opens, the EA would place a SELL STOP at the H1 opening level. In the attached image, at the opening of candle J, the EA will place a sell stop at the entry level). Right now the EA is monitoring the price and placing a market order (in the case of the example, a sell order). Second option would be a max trailing stop, Example (assuming the first example and the sell stop was triggered and the trailing is 5 pips, a Max Trailing of 1 would mean that the EA will trail the stop to +1 and stops trailing). Third option would be multiple scheduling. Example (from 00:00 to 03:00 and from 09:00 to 12:00, etc...).
P.S: The reason for suggesting the Limit Order option is to be able to easily track the EA progress in live testing).
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  • #5,235
  • Aug 17, 2016 1:27pm Aug 17, 2016 1:27pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,236
  • Aug 17, 2016 1:36pm Aug 17, 2016 1:36pm
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Thanks PTG for the M30 heads up.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,237
  • Aug 17, 2016 4:31pm Aug 17, 2016 4:31pm
Quoting lemercenaire
Stop torturing yourself about 'the ones that got away'. Can you alter the fact that you got +4 and not +24? No. So why are you wasting time thinking about it? This breeds negative energy. You become a ''loser of 24'' instead of the ''winner of 4'' you actually are because you have clouded your reasoning. Follow the rules.
You could not buy better trading advice.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,238
  • Edited 5:50pm Aug 17, 2016 4:47pm | Edited 5:50pm
Riding The Winners, Righting The Wrongs

http://tfl365.com/scott/?p=1316

EA coders please read this.
All traders should read also.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,239
  • Aug 17, 2016 5:32pm Aug 17, 2016 5:32pm
Quoting PippyTheGrt
{quote} There are better examples where the difference is huge. At times you'd want to go down to M15 or -heck- M5. Doesn't matter all that much, it is just a horizontal line to me. A Line In The Sand (LIS) Waiting for a line that the trader himself (!!!) has defined, has everything to do with self-discipline and nothing to do with a meaning attached to the line itself, either by yourself (your "self") or others. Notice the word "himself". When trading this system (or any other for that matter), you need to "own" it. Any rules have to be fully accepted...
Appreciate that. I have an innate curiosity as regards peoples' motivations in decision-making processes that shadow my own, sorry - don't mean to over-analyse!
  • #5,240
  • Aug 17, 2016 5:37pm Aug 17, 2016 5:37pm
Quoting PippyTheGrt
{quote} The only reason why an M30 would be triggered and an H1 not would be if price turns around before reaching the H1 entry. That could be a profitable- or a cost trade. Doesn't happen "very often" (can't quantify that) but I've seen it. It happens that H1 is the next best option because there was no pullback (M1/M5 open) on the M30 so the next best thing is H1. Sometimes they are the same. If there is enough room between M30 and H1 open, one could perhaps use it as a TP point, I suspect the stats are quite good...
Yes, that's the situation I meant. I was just wondering how often that would happen (see above post re curiosity, lol). I am not in any way expecting you to go away and find me stats - ''Doesn't happen ''very often''...but I've seen it'', is good enough for me! Thanks.
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