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Highest Open / Lowest Open Trade

  • #6,701
  • Sep 21, 2016 8:02pm Sep 21, 2016 8:02pm
Quoting lemercenaire
{quote} So, I've been looking for an answer about breakouts. What is the rule especially in a day like today? It's messing with my system pretty bad and I should have stayed out today. Sitting on your hands I have found out IS a position too😐 As Pippy says, the HOLO rule on breakouts is simple: Don't trade BreakOuts. Rule #1. It doesn't matter if it's a day like today or any other day. Don't trade BreakOuts. (...and should you really ​have been trading a day with so much red in it anyway? What one thing does a day like today bring?...
Yes. I have been rushing and trying to make shit happen that isn't where it should be. So therefore you said earlier it would bite me in the ass. It did. I like reading post #1 because it is so simple and hard to do simultaneously. It will keep you grounded. I ran out of GB'stock on my home Internet so I have to look at the one hour chart and set top open and bottom open lines on my mobile. This has made these last couple of days of trading a bitch. I have to heed rule number 1 closely. It has been what I had been doing wrong. Also, for me only I need to get to BE+1 and let the market run. I have been scared to do so, but when I'm not I can kill it. That has only happened 2x. So please bring forth the brow beating I need it. Maybe pippy will chime in and do that also, then Tooslow may his wisdom with so few words will do the same!!! Thank you for your response I appreciate it!!!!!
  • #6,702
  • Sep 21, 2016 9:25pm Sep 21, 2016 9:25pm
Quoting Tman72
{quote} Yes. I have been rushing and trying to make shit happen that isn't where it should be. So therefore you said earlier it would bite me in the ass. It did. I like reading post #1 because it is so simple and hard to do simultaneously. It will keep you grounded. I ran out of GB'stock on my home Internet so I have to look at the one hour chart and set top open and bottom open lines on my mobile. This has made these last couple of days of trading a bitch. I have to heed rule number 1 closely. It has been what I had been doing wrong. Also, for...
Tman72, you know what to do.
Now just do it.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #6,703
  • Sep 21, 2016 10:48pm Sep 21, 2016 10:48pm
Quoting fabiog
TRADE #8 Pair: USDCAD Position: Long at 1.31634 (H1 Lower Open 1.31633) SL at 1.31532 Risk: 10.2 pips ( 15,50 $) Entry: Market order at 1.31634 Exit: by SL at the bid price (1.31644) Position size: 0.20 lot Trade duration: 00:18:38 P/L: + 1.0 pips (+1,52 $) Spread: 1.6-2.1 pips After entry: {image} SL moved: {image} SL hit: {image}
Would you rather have a bunch of be+1 or be +5?
  • #6,704
  • Sep 22, 2016 6:14am Sep 22, 2016 6:14am
Cat-sitting today. No screens. Seen nothing.

What have I missed? Anything happening?

Attached Image
  • #6,705
  • Sep 22, 2016 6:20am Sep 22, 2016 6:20am
Quoting lemercenaire
Cat-sitting today. No screens. Seen nothing. What have I missed? Anything happening? {image}
LOL
Love it.
No idea, no screens here either.
It takes courage to grow up and become who you really are - E.E. Cummings
  • #6,706
  • Sep 22, 2016 6:24am Sep 22, 2016 6:24am
A quick, cursory look...

EURJPY As I said - before anyone jumps in - I didn't see this at the time but it looks like about as simple a bag as you could get.

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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  • #6,707
  • Sep 22, 2016 6:25am Sep 22, 2016 6:25am
Quoting PippyTheGrt
{quote} LOL Love it. No idea, no screens here either.
How does anyone manage to trade from a phone?!!! Toyed with the idea - swiftly dropped that one, lol...
  • #6,708
  • Sep 22, 2016 6:31am Sep 22, 2016 6:31am
Quoting lemercenaire
{quote} How does anyone manage to trade from a phone?!!! Toyed with the idea - swiftly dropped that one, lol...
No idea.
It seems to be a USP to be able to do so. "Trading has never been easier" - yeah right, losing money has never been easier
It takes courage to grow up and become who you really are - E.E. Cummings
  • #6,709
  • Sep 22, 2016 6:55am Sep 22, 2016 6:55am
TRADE #1

Pair: USDCAD

Position: Long at 1.30332 (H1 Lower Open 1.30332)
SL at 1.30266
Risk: 6.6 pips (5,30 $) Commision (0,40$)
Entry: Stop order at 1.30332
Exit: by SL at the bid price (1.30266)
Position size: 0.10 lot
Trade duration: 00:07:46
P/L: - 6.6 pips (-5,70 $) *include commision
Spread: 0,9-1,1 pips

Before entry:
Attached Image (click to enlarge)
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After entry:
Attached Image (click to enlarge)
Click to Enlarge Name: Image2.jpeg Size: 115 KB


SL hit, trade summary:
Attached Image (click to enlarge)
Click to Enlarge Name: Image3.jpeg Size: 104 KB
  • #6,710
  • Sep 22, 2016 7:06am Sep 22, 2016 7:06am
You were in choppy waters.
Up 2 pips then down.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #6,711
  • Sep 22, 2016 9:19am Sep 22, 2016 9:19am
Hello, I like this strategy, it seems quite easy. I want to ask, who is trading this strategy, what is your average win percentage and average risk:Reward ratio? Thank you.
  • #6,712
  • Sep 22, 2016 10:08am Sep 22, 2016 10:08am
- win percentage ? manually ? naer by 100% of the orders

- I go in risk only in my wins, not in the startcapital (up to 10% from the balance)

Attached Image (click to enlarge)
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  • #6,713
  • Sep 22, 2016 10:21am Sep 22, 2016 10:21am
Quoting IenDzi
Hello, I like this strategy, it seems quite easy. I want to ask, who is trading this strategy, what is your average win percentage and average risk:Reward ratio? Thank you.
We all get different results. You won't get an objective answer here. I think the best answer comes from yourself: take the 10 trades challenge and see for yourself. Evaluate if that result is worth your time.
  • #6,714
  • Sep 22, 2016 10:22am Sep 22, 2016 10:22am
Quoting IenDzi
Hello, I like this strategy, it seems quite easy. I want to ask, who is trading this strategy, what is your average win percentage and average risk:Reward ratio? Thank you.
Welcome aboard.

Get the rules in front of you. Take the 10-trade challenge. Work it out.

Our results are of no relevance to you. Why would you believe us? You are your own man.

10 traders locked in a room. Same rules. 10 different sets of results.

We show you a method. Learn by doing. We don't spoon-feed here.
  • #6,715
  • Sep 22, 2016 10:34am Sep 22, 2016 10:34am
- the system is ready and nice !

- I've done the 10 orders
  • #6,716
  • Sep 22, 2016 10:39am Sep 22, 2016 10:39am
Hello Too Slow. This thread is great. I have followed it a few days and using the smHiLoOpen Lines_v1.2 ex4 and tpl.

Now i have a question: my mt4 time zone is +8 , so it shows beijing time. I find the indicator regard 0:00 as a day's open time. BUT my 0:00 is actually 12 or 13:00 of Newyork time which is not a open of new trading day. I think it should be 5:00 at time zone +8 as a new day.

What can i do to change it? Thanks.
  • #6,717
  • Sep 22, 2016 2:23pm Sep 22, 2016 2:23pm
After a breakout from the daily high or low, when can i start to trading again? Have i to wait for the next hour close or when the next lets say 15 minute candle opens in the new zone of onterest?
Everyday better.
  • #6,718
  • Sep 23, 2016 1:51am Sep 23, 2016 1:51am
Quoting holyshock
Hello Too Slow. This thread is great. I have followed it a few days and using the smHiLoOpen Lines_v1.2 ex4 and tpl. Now i have a question: my mt4 time zone is +8 , so it shows beijing time. I find the indicator regard 0:00 as a day's open time. BUT my 0:00 is actually 12 or 13:00 of Newyork time which is not a open of new trading day. I think it should be 5:00 at time zone +8 as a new day. What can i do to change it? Thanks.
You used to be able to adjust this in your broker settings. Maybe someone who knows their way around the technical innards of mt4 could confirm or deny this?

However in reality, it doesn't matter. I operate from my broker's opening time. I didn't adjust to my local. This actually gives my day a bit of ''room'' to take shape before the UK open. If you really want to operate on ie UK time and don't want to fool with your broker's platform, open a demo account on a broker in your preferred time-zone and put the indicator on there. When a trade triggers, place the trade on your actual broker.
  • #6,719
  • Sep 23, 2016 1:54am Sep 23, 2016 1:54am
Quoting arlucad
After a breakout from the daily high or low, when can i start to trading again? Have i to wait for the next hour close or when the next lets say 15 minute candle opens in the new zone of onterest?
Wait until the candle that formed the breakout closes and then reassess your set-up.

You will then obviously have a new HO/LO.
  • #6,720
  • Sep 23, 2016 1:56am Sep 23, 2016 1:56am
For those not cat-sitting, some possibilities for the day:

GBPUSD
Attached Image (click to enlarge)
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