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Highest Open / Lowest Open Trade

  • #5,741
  • Aug 22, 2016 4:06pm Aug 22, 2016 4:06pm
Quoting PippyTheGrt
{quote} New H4 starts every 4 hours. Correct. 00:00 01:00 02:00 03:00 04:00 05:00 06:00 07:00 08:00 09:00 10:00 11:00 12:00 13:00 14:00 15:00 16:00 17:00 18:00 19:00 20:00 21:00 22:00 23:00 There are 6 H4 bars per day. And per 24 hours. With every decent trading platform you can let an H4 start at every hour you wish. Every H4 start time has their own OHLC. On my MT4, an H4 starts at 07:00 CET. Why that time ? Why not 09:00 when London opens ? Why attach a specific weight to an H4 with a specific opening time over others ? To me, it's about London...
It is interesting though. I have felt no urge to adjust my broker start time etc and to fall into the trap that so many other threads seem to, by trying to synchronise every platform, every start time, to one common point. I use my indicator and it will, yes sometimes, give different levels that others may have at the beginning of the day. However as the day moves on, those differences disappear, as a high is a high is a high (to within a pip or so across different brokers).
  • #5,742
  • Aug 22, 2016 4:07pm Aug 22, 2016 4:07pm
Quoting TooSlow
{quote} Your broker. Your daily D1 candle begins at 00:00 broker time.
  • #5,743
  • Aug 22, 2016 4:12pm Aug 22, 2016 4:12pm
Quoting TooSlow
{quote} Gimmicks.
LOL
It takes courage to grow up and become who you really are - E.E. Cummings
  • #5,744
  • Aug 22, 2016 4:16pm Aug 22, 2016 4:16pm
Hit my daily threshold of FF PMs.
We need a better way.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,745
  • Aug 22, 2016 4:20pm Aug 22, 2016 4:20pm
Quoting TooSlow
{quote} Your broker. Your daily D1 candle begins at 00:00 broker time.
My daily candle starts at 23:00 CET. And so does the H4.
I have no Sunday candle.
It takes courage to grow up and become who you really are - E.E. Cummings
  • #5,746
  • Aug 22, 2016 4:26pm Aug 22, 2016 4:26pm
Quoting TooSlow
Hit my daily threshold of FF PMs. We need a better way.
There's a threshold?! Good grief...
  • #5,747
  • Aug 22, 2016 4:49pm Aug 22, 2016 4:49pm
FAILURE

A list of possible failures:

  1. Failure to wait for price to enter area of interest - enter too soon and lose.
  2. Failure to enter at correct time/place - enter too late and lose.
  3. Failure to enter at correct time/place - miss out on a (huge) winning trade.
  4. Failure to set stop loss - lose more than necessary.
  5. Failure to move stop loss to BE+1 - a winner becomes a loser.
  6. Failure to move stop loss to BE+5 - give back more than necessary.
  7. Failure to pay attention - can cause any of above.

​
All of the above failures are avoidable.

Did I miss any failures?

My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,748
  • Aug 22, 2016 4:50pm Aug 22, 2016 4:50pm
Quoting lemercenaire
{quote} I honestly think they should - using the naked H1 chart. Don't use the template. Set the lines yourself. No performance anxiety, no stress at all, just absorb the process. Watch the ebb and flow... {image}
Been mulling this over.
You are absolute spot on, mate.
Kids need to learn how to add, subtract, multiply and divide before they get a calculator.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,749
  • Aug 22, 2016 4:58pm Aug 22, 2016 4:58pm
Quoting TooSlow
{quote} {image} Delete all of the objects. Switch pairs. Save template. Those others are not necessary. They are from another galaxy. Or use the indicator and template attached. {file} {file}
OK thanks, that fixed it now
  • #5,750
  • Aug 22, 2016 4:59pm Aug 22, 2016 4:59pm
Quoting TooSlow
{quote} Been mulling this over. You are absolute spot on, mate. Kids need to learn how to add, subtract, multiply and divide before they get a calculator.
I was early and late to the party this morning with a b e+6.4. It was nice doing this off of a mobile and still not losing on the USD/CAD. I don't know if its ok to enter later than normal, no it's not ok but I felt I would let it ride when it went to almost 10 pips I did BE+5 or so I thought and it ended up more for some reason. I would like to sit back and I cannot do that.
  • #5,751
  • Aug 22, 2016 5:08pm Aug 22, 2016 5:08pm
Quoting TooSlow
FAILURE A list of possible failures: Failure to wait for price to enter area of interest - enter too soon and lose. Failure to enter at correct time/place - enter too late and lose. Failure to enter at correct time/place - miss out on a (huge) winning trade. Failure to set stop loss - lose more than necessary. Failure to move stop loss to BE+1 - a winner becomes a loser. Failure to move stop loss to BE+5 - give back more than necessary. Failure to pay attention - can cause any of above. ​ All of the above failures are avoidable. Did I miss...
Failure to trust the method - causes over-thinking, confusion and delay in trade execution.
  • #5,752
  • Aug 22, 2016 5:14pm Aug 22, 2016 5:14pm
Quoting Tman72
{quote} I was early and late to the party this morning with a b e+6.4. It was nice doing this off of a mobile and still not losing on the USD/CAD. I don't know if its ok to enter later than normal, no it's not ok but I felt I would let it ride when it went to almost 10 pips I did BE+5 or so I thought and it ended up more for some reason. I would like to sit back and I cannot do that.
But why did you enter late? How late? 1 pip? 10? Over-thinking and delay (bad) or fat-fingers (still bad but at least understandable)? I couldn't trade via a mobile.
  • #5,753
  • Aug 22, 2016 5:15pm Aug 22, 2016 5:15pm
Quoting lemercenaire
{quote} But why did you enter late? How late? 1 pip? 10? Over-thinking and delay (bad) or fat-fingers (still bad but at least understandable). I couldn't trade via a mobile.
I woke up looked at USD/CAD and seen that the move had already started and got out in 9 minutes. beginners luck.
  • #5,754
  • Aug 22, 2016 5:28pm Aug 22, 2016 5:28pm
Quoting Tman72
{quote} I was early and late to the party this morning with a b e+6.4. It was nice doing this off of a mobile and still not losing on the USD/CAD. I don't know if its ok to enter later than normal, no it's not ok but I felt I would let it ride when it went to almost 10 pips I did BE+5 or so I thought and it ended up more for some reason. I would like to sit back and I cannot do that.
That is your past telling you something you can do without.

"Would like to" implicitly means "I cannot do it now". It is a belief.
"I cannot do that" is a belief.
Beliefs are not based on facts.

Yes, you CAN.

Just do it.

Make it a fact.
It takes courage to grow up and become who you really are - E.E. Cummings
  • #5,755
  • Aug 22, 2016 5:38pm Aug 22, 2016 5:38pm
Quoting PippyTheGrt
{quote} That is your past telling you something you can do without. "Would like to" implicitly means "I cannot do it now". It is a belief. "I cannot do that" is a belief. Beliefs are not based on facts. Yes, you CAN. Just do it. Make it a fact.
Meaning that if I see something I jump on it. It's very hard to sit still and do nothing when I see the move dropping so fast.
  • #5,756
  • Aug 22, 2016 5:39pm Aug 22, 2016 5:39pm
Quoting Tman72
{quote} I woke up looked at USD/CAD and seen that the move had already started and got out in 9 minutes. beginners luck.
Attached Image
  • #5,757
  • Aug 22, 2016 5:42pm Aug 22, 2016 5:42pm
Quoting lemercenaire
{quote} Failure to trust the method - causes over-thinking, confusion and delay in trade execution.
You can fail to trust the method and enter on time.
You can trust the method and enter late.
The only way to trust the method is by practicing the method correctly and experience it working.
Success breeds confidence.
Sometimes, confidence breeds success.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,758
  • Aug 22, 2016 5:42pm Aug 22, 2016 5:42pm
Quoting Tman72
{quote} Meaning that if I see something I jump on it. It's very hard to sit still and do nothing when I see the move dropping so fast.
Random entries will produce random results.
The path to failure.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,759
  • Edited 6:02pm Aug 22, 2016 5:45pm | Edited 6:02pm
Quoting Tman72
{quote} Meaning that if I see something I jump on it. It's very hard to sit still and do nothing when I see the move dropping so fast.
You'll do it once...you no doubt will do it twice...then one day it will bite your ass - bad...

I guess we've all done it. Maybe it's a rite of passage. I do know that I sure as hell don't do it any more.
  • #5,760
  • Aug 22, 2016 5:47pm Aug 22, 2016 5:47pm
Quoting Tman72
{quote} Meaning that if I see something I jump on it. It's very hard to sit still and do nothing when I see the move dropping so fast.
Please view these before your next trade:


http://www.viperreport.com/the-menta...-trading-well/

http://www.viperreport.com/how-to-tr...-losing-money/
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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