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Highest Open / Lowest Open Trade

  • #5,661
  • Aug 22, 2016 9:05am Aug 22, 2016 9:05am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,662
  • Aug 22, 2016 9:15am Aug 22, 2016 9:15am
Made a new Higher H1 so I canceled my entry order as we now have a new area of interest. Correct?
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The better looser you are the better winner you are
  • #5,663
  • Aug 22, 2016 9:17am Aug 22, 2016 9:17am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,664
  • Aug 22, 2016 9:34am Aug 22, 2016 9:34am
Quoting USCGamecocks
Made a new Higher H1 so I canceled my entry order as we now have a new area of interest. Correct? {image}
For Me, yes you have made the correct call there. Well done.

It's loitering just outside the area of interest, so we will sit tight for now.

Cheers
Michael
  • #5,665
  • Aug 22, 2016 9:39am Aug 22, 2016 9:39am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,666
  • Aug 22, 2016 9:39am Aug 22, 2016 9:39am
Quoting TooSlow
Who is taking the 10 trade challenge this week?
I've never seen anybody posting their 10 trade challenge results. Here are mine:
1 -9.8
2 BE+1
3 -8.1
4 +15.3
5 +5
6 -10
7 +6.1
8 BE+1
9 -11
10 +12.8

For a gran total of +0.3 pips. Basically BE. Is that good...is that bad? It depends on how you see the glass. For me it's good and encouraging. I plan to continue recording my results, and when I have a significant sample size, I'll have enough arguments to draw a conclusion and see how I can improve and more importantly, have enough confidence on the statistical results of the method to trade with a significant lot size.

Cheers
  • #5,667
  • Aug 22, 2016 9:41am Aug 22, 2016 9:41am
Quoting TooSlow
Who is taking the 10 trade challenge this week?
I am trying it, got up this morning and traded USD/CAD be+6.4 pips I will have to load a chart after work unless I can do it from my mobile
  • #5,668
  • Aug 22, 2016 9:43am Aug 22, 2016 9:43am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,669
  • Aug 22, 2016 9:43am Aug 22, 2016 9:43am
Quoting keen246
{quote} I've never seen anybody posting their 10 trade challenge results. Here are mine: 1 -9.8 2 BE+1 3 -8.1 4 +15.3 5 +5 6 -10 7 +6.1 8 BE+1 9 -11 10 +12.8 For a gran total of +0.3 pips. Basically BE. Is that good...is that bad? It depends on how you see the glass. For me it's good and encouraging. I plan to continue recording my results, and when I have a significant sample size, I'll have enough arguments to draw a conclusion and see how I can improve and more importantly, have enough confidence on the statistical results of the method to trade...
Did you follow the rules on each and every trade?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,670
  • Aug 22, 2016 10:11am Aug 22, 2016 10:11am
Quoting TooSlow
{quote} Did you follow the rules on each and every trade?
I think I did. I posted all the trades and just on the 9th trade, Lemercenaire gave some feedback and pointed out I maybe broke rule #1. I asked about that one and so have some other traders, and it seems like it's still a bit of a gray area. Several charts posted here break rule #1.

As mentioned before, previously taking the challenge, I had taken several trades on the simulator which gave me a bit of experience to avoid losses even when all the rules are aligned.
  • #5,671
  • Aug 22, 2016 10:18am Aug 22, 2016 10:18am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,672
  • Aug 22, 2016 10:18am Aug 22, 2016 10:18am
Quoting keen246
{quote} I think I did. I posted all the trades and just on the 9th trade, Lemercenaire gave some feedback and pointed out I maybe broke rule #1. I asked about that one and so have some other traders, and it seems like it's still a bit of a gray area. Several charts posted here break rule #1. As mentioned before, previously taking the challenge, I had taken several trades on the simulator which gave me a bit of experience to avoid losses even when all the rules are aligned.
Were all of your trades on the same pair?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,673
  • Aug 22, 2016 10:26am Aug 22, 2016 10:26am
How delinquent of me.

Apologies TooSlow and all for my previous post. It has now been deleted.

I haven't the right to post my "dreams" about what "might happen"......nor do I have the right to interfere with sound trade logic.

I will go back into my Tasmanian hole and reflect.

Again, sorry.
Michael
  • #5,674
  • Aug 22, 2016 10:29am Aug 22, 2016 10:29am
Quoting TooSlow
{quote} Were all of your trades on the same pair?
The 50+ trades taken on the simulator were all on GU. The challenge ones, no. I think that once you get the idea of the method, it's irrelevant on where you take the trades. As you yourself have stated several times, this method is simple and it's not figuring out Maxwell's equations (those ones did give me a hard time).
  • #5,675
  • Edited 10:46am Aug 22, 2016 10:31am | Edited 10:46am
Quoting MichaelG
{quote} Hi Mate, No, I will not change your code. I am not that experienced. It is your code, so I will always ask you to make the changes. As you know, we have 2 possible breakout rules. 1....When price makes a new High or Low TODAY. 2....When price makes a Higher High than YESTERDAYS HIGH (or Lower Low than Yesterdays Low) While price is Above/Below YESTERDAYS High/Low......it is considered to be in Breakout mode. So while it is Above/Below, the EA should not consider a trade. If the traders wants to place a manual trade, then they can do that,...
Hi all
for more clearence in breakout rulls
in attach picture i put a black box include some bars
acording to micheal post all of them must be a breakout bar
is that right micheal?

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM5.png Size: 48 KB


if we accept this breakouts
in trading time if H1_higher_open is above the yesterday high we have no sell trade until end of day
and vice vrsa
If H1_lowest_open is behind yesterday low we have no buy trade until end of day

in attached picture for example if any open candle behind H1_lowest_open occured all of them is breakout
because they all behind yesterday low
  • #5,676
  • Aug 22, 2016 10:45am Aug 22, 2016 10:45am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,677
  • Aug 22, 2016 10:50am Aug 22, 2016 10:50am
BREAKOUTS

So much confusion.
Breakouts can cause losses.
Mark Douglas said, "No one knows what will happen next."
After price breaks out it is best to wait until the hour is over.
Price can continue breaking out.
The reason for this is to help prevent losses. (Rule #1)
There will always be another trade. (Rule #5)
The 1-2-3 method is based on this.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,678
  • Aug 22, 2016 10:59am Aug 22, 2016 10:59am
Unfortunately I missed this trade but it is my first day trying this method out.
Just trying to figure it all out in my head for now.
Let me know if any of my thinking out loud on my chart is wrong.
Oh also I realized that the previous day's high was wrong on my other chart. I think the Sunday candle messes with Monday's chart. I don't use MT4 so I'm having to work with what I have.
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The better looser you are the better winner you are
  • #5,679
  • Aug 22, 2016 11:06am Aug 22, 2016 11:06am
Quoting MichaelG
{quote} G'day Mate. Thanks for the "name" explanation. I was also wondering that one. Young Warren did have a few issues as I recall. Not suggesting you have any Mate. Very happy for your input here. It brings a certain (acceptable) irreverence to the thread, and along with Pippy, you guys give me a great many giggles. Keep em coming .....as well as the really good trade perspectives you guys present. Thanks(from someone who has not got nearly the same keystroke speed that you have.) Cheers Michael
Oh Warren​ had a few issues, all right, lol! His life mirrored and echoed my own in so many ways and his music and outlook on life resonates through mine. Glad to be on board the good ship HOLO. (USS 1-2-3). Don't mistake tongue-in-cheek for disdain or contempt in any way - I have the utmost respect for HOLO and all who sail in her.
  • #5,680
  • Aug 22, 2016 11:14am Aug 22, 2016 11:14am
Quoting keen246
{quote} I've never seen anybody posting their 10 trade challenge results. Here are mine: 1 -9.8 2 BE+1 3 -8.1 4 +15.3 5 +5 6 -10 7 +6.1 8 BE+1 9 -11 10 +12.8 For a gran total of +0.3 pips. Basically BE. Is that good...is that bad? It depends on how you see the glass. For me it's good and encouraging. I plan to continue recording my results, and when I have a significant sample size, I'll have enough arguments to draw a conclusion and see how I can improve and more importantly, have enough confidence on the statistical results of the method to trade...
I would say good - it's not down, right. Are these all the same pair? If not, have you made a log of which pairs are perhaps bringing better results than others? Looking at those results with a cold-eye, if you can honestly say that all the rules/conditions were met and this was the outcome, then yes, that's good. You will get flat days. Once you are old-and-grizzly like me, you will be running 10 trades a day easily, so this would basically be one flat day...and you ​still came out ahead.

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