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Highest Open / Lowest Open Trade

  • #5,501
  • Aug 19, 2016 11:39am Aug 19, 2016 11:39am
Ninth trade of my 10 trades challenge. UCHf -11 pips.
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  • #5,502
  • Aug 19, 2016 12:02pm Aug 19, 2016 12:02pm
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Waiting
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,503
  • Aug 19, 2016 12:04pm Aug 19, 2016 12:04pm
Quoting keen246
Ninth trade of my 10 trades challenge. UCHf -11 pips. {image}
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You are trading against H4 green candle.
Just a hint
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,504
  • Aug 19, 2016 12:33pm Aug 19, 2016 12:33pm
sorry if i'm talking about something out of topic
but i've just realized when i am looking at the price movement that there are only 2 conditions : consolidating or trending
area of interest is when price consolidating and when it breakout or reverse, that it is trending
we can't dictate market to reverse or break when reaching particular price, we follow the market, and market is liquid or uncertain
no fixed rule or price that will be obeyed by market

our main rule is to follow the market, from determining whether the market is consolidating or trending, it happens in all timeframe not only in H1,D1, etc

area of interest is like S/R level, not line but area. so when price go above area of interest (small amount of pips/making new D1 high) it doesn't always mean Resistance level is broken. if otherwise, the price hit H1 open high/low, it doesn't always mean the market will reverse

we don't trade in the consolidating market, but we try to catch the sign of trending, breakout or reversal, in this system we catch sign of reversal
some people place pending order at top and bottom near that area

please masters who know better than me, give me correction. my brain is going to explode... so difficult writing English..
I Will Never Give Up
  • #5,505
  • Aug 19, 2016 12:35pm Aug 19, 2016 12:35pm
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M30 Highest Open PTG
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,506
  • Aug 19, 2016 12:41pm Aug 19, 2016 12:41pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,507
  • Aug 19, 2016 12:46pm Aug 19, 2016 12:46pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,508
  • Aug 19, 2016 12:55pm Aug 19, 2016 12:55pm
Quoting learn2fly
sorry if i'm talking about something out of topic but i've just realized when i am looking at the price movement that there are only 2 conditions : consolidating or trending area of interest is when price consolidating and when it breakout or reverse, that it is trending we can't dictate market to reverse or break when reaching particular price, we follow the market, and market is liquid or uncertain no fixed rule or price that will be obeyed by market our main rule is to follow the market, from determining whether...
Really?
Sounds like something you believe.
You draw a box around price.
You call it consolidating.
You draw a line.
When price crosses the line, you call it a breakout.
You analyze.
You come to a conclusion.
You think you know something.
There is nothing to know.

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We draw a highest open line.
And a lowest open line.
We do not give call it by any other name.
We know when to buy.
We know when to sell.
We dance with the market.
And the market always leads.
That is all we do.

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,509
  • Aug 19, 2016 1:16pm Aug 19, 2016 1:16pm
Tenth trade of my 10 trades challenge. UCad +12.8 pips. Close a bit early but wanted to secure some pips to recover from last loss.
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  • #5,510
  • Aug 19, 2016 1:19pm Aug 19, 2016 1:19pm
Quoting TooSlow
{quote} Really? Sounds like something you believe. You draw a box around price. You call it consolidating. You draw a line. When price crosses the line, you call it a breakout. You analyze. You come to a conclusion. You think you know something. There is nothing to know. {image} We draw a highest open line. And a lowest open line. We do not give call it by any other name. We know when to buy. We know when to sell. We dance with the market. And the market always leads. That is all we do. {image}

oh my God.. your sentence is beyond my level of understanding, it's too high

mr lee's quote "empty your mind, be like water. have no technique, my movement is a result of yours"

market leads, we follow. but if we want to follow the market, we should recognize the market behavior and characteristic. so we know how and when the market move and then we can follow.
my question is, how to do that?

please guide me
I Will Never Give Up
  • #5,511
  • Aug 19, 2016 1:31pm Aug 19, 2016 1:31pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,512
  • Aug 19, 2016 1:33pm Aug 19, 2016 1:33pm
Quoting learn2fly
{quote} oh my God.. your sentence is beyond my level of understanding, it's too high mr lee's quote "empty your mind, be like water. have no technique, my movement is a result of yours" market leads, we follow. but if we want to follow the market, we should recognize the market behavior and characteristic. so we know how and when the market move and then we can follow. my question is, how to do that? please guide me
Follow the rules.
Sell at highest open.
Buy at lowest open.
Repeat.

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,513
  • Aug 19, 2016 1:43pm Aug 19, 2016 1:43pm
Quoting TooSlow
{quote} Follow the rules. Sell at highest open. Buy at lowest open. Repeat. {image}
Wow, you are really a wiseman.
Thanks Guru
I Will Never Give Up
  • #5,514
  • Aug 19, 2016 2:54pm Aug 19, 2016 2:54pm
5 Strategies for Maximum Confidence

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,515
  • Aug 19, 2016 3:10pm Aug 19, 2016 3:10pm
Quoting learn2fly
masters.. i've just traded 3 pairs EUR/USD, USD/CHF & GBP/USD i know as a newbie i shouldn't trade more than 1 pairbut because it made same daily high at the same time, and H1 highest/lowest open triggered together, i was tempted to it.. these are the results {image} {image} EUR/USD & GBP/USD i set trailing stop based on min point platform provided USD/CHF because didn't move much, i closed it manually (i guess it was a bad decision) please give me some correction.. thanks
PTG pretty much has it covered. My initial reaction was also that always be aware of correlation between pairs - this is great if the market moves your way, you'll get double your money (if running two correlated) but not so hot when the market slaps you down, as now you will obviously be running double the loss on those same two example pairs.

I would also echo the comments as to ​why you chose to close your open trade - which was in profit - early. If it was purely down to fear and not through legit analysis, then that needs to be addressed. Plus, what analysis - legit or otherwise - is allowed for in the rules? Did the rules fail you in some way?

Keep it up though, it's all good.
  • #5,516
  • Aug 19, 2016 3:13pm Aug 19, 2016 3:13pm
Quoting hubby7
Finally 2nd trade stopped out at +15.Total of +40 pips for this trade from an initial risk of breakeven. Thanks TS and other for introducing this very"complex" way of trading. {image}
You've had your ''light-bulb'' moment!
  • #5,517
  • Aug 19, 2016 3:32pm Aug 19, 2016 3:32pm
Quoting PippyTheGrt
{quote} Nice Yes, stacking, why not. That or after the first pullback, or whatever makes sense to a person and makes money. HOTD above HOYD. Took away some stops and tricked some into going long. Thanks for posting.
This is actually something I have been mulling over (yep, mulling again - dangerous, I know...). I have been wondering about a situation where you have entered a trade and perhaps closed on BE+1 for example. Fair enough, we'll take that and put it in the bag. However...the price then moves back into the ''area of interest'', not all the way in ​at all but just dips back in by a pip or whatever, no chance for a bar of any kind to open, not even an m1, in fact it may even be in that same initial bar. Now, I haven't been re-entering...not by the rules. Is this one to add to the bendable pile? Thoughts?

I know you will have to deal with another spread et al but it is one way that would deal with the issue that comes up, that of being taken out of a move, having to ''settle'' for BE+1, only to see the trade go on for a bigger move. However, I am also well aware of Rule #6! Have I just, in fact, talked myself out of doing anything, lol...
  • #5,518
  • Aug 19, 2016 3:43pm Aug 19, 2016 3:43pm
Quoting TooSlow
{image} What a ride.
Very gratifying to come back in after an afternoon spent mostly sitting in traffic to see a result.
  • #5,519
  • Aug 19, 2016 3:49pm Aug 19, 2016 3:49pm
Quoting keen246
Ninth trade of my 10 trades challenge. UCHf -11 pips. {image}
Have I counted the time back wrong? If I haven't, have you not traded an H1 Breakout Bar?
  • #5,520
  • Aug 19, 2016 3:58pm Aug 19, 2016 3:58pm
Quoting learn2fly
sorry if i'm talking about something out of topic but i've just realized when i am looking at the price movement that there are only 2 conditions : consolidating or trending area of interest is when price consolidating and when it breakout or reverse, that it is trending we can't dictate market to reverse or break when reaching particular price, we follow the market, and market is liquid or uncertain no fixed rule or price that will be obeyed by market our main rule is to follow the market, from determining whether the market is consolidating or...
Wow - over think much?

Why are you letting yourself become distracted by this. Is the method boring you?

No matter what, it is in the nature of the market that price will make a high and retrace. If this new high is in an uptrend, the retrace will be small. You'll have your BE+1 / BE+5 or you'll have a Breakout and run a 1-2-3 to pick it up.

If the new high is in an area of consolidation, the retrace will be bigger.

Win-Win.

The majority hate consolidation - HOLO loves consolidation...it wants to have its babies and live in the countryside.

Stop thinking - Do.
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