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Highest Open / Lowest Open Trade

  • #5,401
  • Aug 18, 2016 10:27am Aug 18, 2016 10:27am
3 minutes to half hour
See what happens on UC.
It takes courage to grow up and become who you really are - E.E. Cummings
  • #5,402
  • Aug 18, 2016 10:32am Aug 18, 2016 10:32am
M1/M30

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It takes courage to grow up and become who you really are - E.E. Cummings
  • #5,403
  • Aug 18, 2016 10:36am Aug 18, 2016 10:36am
what happen with USDCAD?
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above M5 chart, is when i made decision based on M5 open bar (second bar), so i set pending order at H1 lowest open, triggered at third M5 bar, and what happened next is new daily low occured, and my trade stopped at SL (set at daily low)
IF i decided to set pending order when M15 open bar occured, then i wouldn't get loss.
my conclusion is, we should wait for the M15 open bar, not M5.
CMIIW
I Will Never Give Up
  • #5,404
  • Aug 18, 2016 10:43am Aug 18, 2016 10:43am
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m3o lo ptg
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,405
  • Aug 18, 2016 10:45am Aug 18, 2016 10:45am
Traders who are new to the thread.
It is best if you use the indicators and templates provided here.
Other indicators will only distract you from learning.
Make alterations only after you master this method.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,406
  • Aug 18, 2016 10:47am Aug 18, 2016 10:47am
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It takes courage to grow up and become who you really are - E.E. Cummings
  • #5,407
  • Aug 18, 2016 10:48am Aug 18, 2016 10:48am
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7 RED M15 candles in a row.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,408
  • Aug 18, 2016 11:01am Aug 18, 2016 11:01am
Another opportunity
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It takes courage to grow up and become who you really are - E.E. Cummings
  • #5,409
  • Aug 18, 2016 11:14am Aug 18, 2016 11:14am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,410
  • Aug 18, 2016 11:29am Aug 18, 2016 11:29am
Sixth trade of my 10 trade challenge. UCHf -10 pips.
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  • #5,411
  • Aug 18, 2016 11:30am Aug 18, 2016 11:30am
Quoting learn2fly
what happen with USDCAD? {image} above M5 chart, is when i made decision based on M5 open bar (second bar), so i set pending order at H1 lowest open, triggered at third M5 bar, and what happened next is new daily low occured, and my trade stopped at SL (set at daily low) IF i decided to set pending order when M15 open bar occured, then i wouldn't get loss. my conclusion is, we should wait for the M15 open bar, not M5. CMIIW
IF i decided to set pending order when M30 open bar occured, then i wouldn't get loss. my conclusion is, we should wait for the M30 open bar, not M15.
IF i decided to set pending order when H1 open bar occured, then i wouldn't get loss. my conclusion is, we should wait for the H1 open bar, not M30.
IF i decided to set pending order when H4 open bar occured, then i wouldn't get loss. my conclusion is, we should wait for the H4 open bar, not H1.
IF i decided to set pending order when D1 open bar occured, then i wouldn't get loss. my conclusion is, we should wait for the D1 open bar, not H4.

What am I trying to say ?

Do you think that just because you happen to put an order at some price, the market is going to care one hoot ?
It takes courage to grow up and become who you really are - E.E. Cummings
  • #5,412
  • Aug 18, 2016 11:32am Aug 18, 2016 11:32am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,413
  • Aug 18, 2016 11:33am Aug 18, 2016 11:33am
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It takes courage to grow up and become who you really are - E.E. Cummings
  • #5,414
  • Aug 18, 2016 12:02pm Aug 18, 2016 12:02pm
Seventh trade on my 10 trades challenge. EU +6.1 pips.
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  • #5,415
  • Aug 18, 2016 12:05pm Aug 18, 2016 12:05pm
Quoting slowbrain
{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
POSITION SIZE * STOP LOSS = RISK

Keep your risk constant.

Let me expand on this.
When the stop loss size called for by this method causes the risk to go over your acceptable level, reduce your position size to reduce the risk.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,416
  • Aug 18, 2016 12:11pm Aug 18, 2016 12:11pm
Eighth trade of my 10 trade challenge. UCad BE+1.
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  • #5,417
  • Aug 18, 2016 12:13pm Aug 18, 2016 12:13pm
Attached Image (click to enlarge)
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H1 candle above H1 highest open.
A new H1 highest open is a possibility.
Do not rush to enter a short.
Follow the rules.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,418
  • Aug 18, 2016 12:16pm Aug 18, 2016 12:16pm
Quoting lemercenaire
USDCAD Come to me, 1-2-3... {image}
USDCAD 1-2-3 Safe...by the skin of my teeth...
Attached Image (click to enlarge)
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  • #5,419
  • Aug 18, 2016 12:17pm Aug 18, 2016 12:17pm
Quoting keen246
Eighth trade of my 10 trade challenge. UCad BE+1. {image}
keen246, maybe it was not clear or maybe you have not read the thread, newcomers should only trade one pair.
Trading more than one pair can skew your results.
After you have a grasp on this method, then you can trade more than one pair.
It is more important to learn properly than it is to profit on day 1.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,420
  • Aug 18, 2016 12:26pm Aug 18, 2016 12:26pm
Quoting PippyTheGrt
{quote} IF i decided to set pending order when M30 open bar occured, then i wouldn't get loss. my conclusion is, we should wait for the M30 open bar, not M15. IF i decided to set pending order when H1 open bar occured, then i wouldn't get loss. my conclusion is, we should wait for the H1 open bar, not M30. IF i decided to set pending order when H4 open bar occured, then i wouldn't get loss. my conclusion is, we should wait for the H4 open bar, not H1. IF i decided to set pending order when D1 open bar occured, then i wouldn't get loss. my conclusion...
Oh, where is price at any given time? Is it in a different place on a different chart? Can I get my tongue any deeper into my cheek?
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