Highest Open / Lowest Open Trade

Quoting lemercenaire

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EURJPY 1-2-3 Trade...a loss...good grief, Charlie Brown, a loss. Thought I'd got away with it. Oh well - ​next! {image}

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Quoting lemercenaire

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{quote} Hi and welcome. You read the rules correctly...you set it up correctly...you made 4 pips profit. What do you want to improve? Go do it again...and again... You'll get lots of small wins and then one of those small wins will go on to fill your boots. What's not to like?

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Quoting PippyTheGrt

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USD red news in 1 hour

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Quoting lemercenaire

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{quote} YOU HAVE MY ATTENTION! Thanks!

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Quoting learn2fly

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{quote} hi master, i am confused with this.. when we find a new 1H bar that make a new daily high, the next 1H bar we change the timeframe to 15M to catch 15M open between 1H highest open and daily high (area of interest) if there is no price open at that area, do we need to find it at next hour like MichaelG's example? {image} or the only valid open is which happen in first 1H bar after 1H bar that make new daily high? sorry if this question has been asked and answered before, thanks

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Quoting slowbrain

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{quote} I'm not referring to lot size in fact .... but fixed or dynamic based on SL size ? which option you think is matching the trade system ? if your number of winning trade = number of losing trades ,and your average gain is larger than your average loss, so fixed lot is preferable, but if number of winning trade is 60% or above , dynamic size could be an option to consider thanks TS SB

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Quoting learn2fly

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{quote} what should we do when facing red news? should we get out of the trade or catch some opportunity? for breakout trade maybe you guys speak really high level language, i need to think harder than usual to understand . even a native english speaker would hardly understand.. but i'll try to understand english and "forex" language... hahah thanks masters

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Quoting PippyTheGrt

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{quote} Don't over-complicate. Concentrate on the process. I suggest you start using something that doesn't require you to think and do stuff in between your locking in on an opportunity and executing it. Something like a fixed lot size where the lot size is smaller than your accepted risk % for the largest assumed stop. In other words, use something small enough that it won't hurt your "being able to live another trade" and big enough that you care about it. Make sure you concentrate on the execution process.

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Quoting learn2fly

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{quote} hi master, i am confused with this.. when we find a new 1H bar that make a new daily high, the next 1H bar we change the timeframe to 15M to catch 15M open between 1H highest open and daily high (area of interest) if there is no price open at that area, do we need to find it at next hour like MichaelG's example? {image} or the only valid open is which happen in first 1H bar after 1H bar that make new daily high? sorry if this question has been asked and answered before, thanks

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Quoting courier12

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Hi Too Slow, I understand Rule 1: No entry on H1, M30, M15, M5 breakout bars. However, once price gets above / below yesterday Hi/Lo and stops making a new Hi/Lo for today, is there any preference to either: 1. Fade yesterday's candle Or 2. Enter within the range of yesterday's candle while price may still be inside yesterday's range.

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Quoting PippyTheGrt

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{quote} For future reference: {image}

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Quoting learn2fly

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{quote} what should we do when facing red news? should we get out of the trade or catch some opportunity? for breakout trade maybe you guys speak really high level language, i need to think harder than usual to understand . even a native english speaker would hardly understand.. but i'll try to understand english and "forex" language... hahah thanks masters

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Quoting lemercenaire

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{quote} OK. I'll try and break this down into its parts... First off, in your example, if the H1 you are looking at has made a new Daily High, then it is a Breakout Bar and it shouldn't be traded at all, or at least ​with caution. So, yes, wait for the next H1 bar to open. If the price moves up past the new Higher Open but does not go on to make a new higher High itself, now you can switch to m15/m5 chart. Wait until m15/m5 bar opens in the 'area of interest' and then wait some more until either the price reverses and moves down through the...

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Quoting learn2fly

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{quote} thank you for the answer sir.. may i ask you again.. i've just found a 1H bar that make 1D high but not 1H high open.. EUR/USD 11:00 GMT.. so this 1H bar is not fulfill our criteria, right? we should find 1H bar that make new daily high and new 1H open high... CMIIW {image} sorry if i don't understand because there are so many pages i haven't read.. maybe i've missed some learning..

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Quoting courier12

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{quote} Thank you for the chart learn2fly. Too Slow, this is my question. A Breakout bar HH after the HO. Is the area of interest still valid for a short? Or should we look for a new HO post this HH? Thank you

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