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Highest Open / Lowest Open Trade

  • #7,221
  • Oct 3, 2016 3:51pm Oct 3, 2016 3:51pm
Hi all, woke up at 4.30AM to trade this:

Trade 4 of 10:

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GBPUSD BE+5pips - a nice 5pips morning coffee!

Tooslow, can I get some view/opinion with my question in this post please?

it's about what would you do when you have an entry, and new HO/LO is created. would you close the trade or just hold on to it?

I'm still reading through the thread now, lots of stuffs to learn

Cheers!!
Simplicity is the key to brilliance
  • #7,222
  • Oct 3, 2016 3:51pm Oct 3, 2016 3:51pm
Long weekend now over...great to see you guys all doing so well!

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  • #7,223
  • Oct 3, 2016 3:55pm Oct 3, 2016 3:55pm
Quoting LinFX
Hi all, woke up at 4.30AM to trade this: Trade 4 of 10: {image} GBPUSD BE+5pips - a nice 5pips morning coffee! Tooslow, can I get some view/opinion with my question in this post please? it's about what would you do when you have an entry, and new HO/LO is created. would you close the trade or just hold on to it? I'm still reading through the thread now, lots of stuffs to learn ...
Like a BOSS!

Your trade is open, it's running, let it run its course. The second possible entry wouldn't be an entry, as it's a breakout.
  • #7,224
  • Oct 3, 2016 4:02pm Oct 3, 2016 4:02pm
Quoting lemercenaire
{quote} Like a BOSS! Your trade is open, it's running, let it run its course. The second possible entry wouldn't be an entry, as it's a breakout.
LOL. No sir. BOSS wakes up around 11:00AM or so. I'm just a lowly peasant.

Thanks for your opinion!! I see what you mean. Yeah, the second possible entry was a breakout. so I got confused. Entered, and new HO + breakout popped out. I decided to hold it, but I was afraid/in doubt as I'm not with the rules.
Simplicity is the key to brilliance
  • #7,225
  • Oct 3, 2016 4:09pm Oct 3, 2016 4:09pm
GBPNZD We've got some potential early fun, with price sitting among the pivots. Will be interesting to see how this one plays out tomorrow. GBPNZD can move fast...

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  • #7,226
  • Oct 3, 2016 4:13pm Oct 3, 2016 4:13pm
USDJPY Same kind of set up here.

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  • #7,227
  • Oct 3, 2016 4:22pm Oct 3, 2016 4:22pm
Quoting LinFX
{quote} LOL. No sir. BOSS wakes up around 11:00AM or so. I'm just a lowly peasant. Thanks for your opinion!! I see what you mean. Yeah, the second possible entry was a breakout. so I got confused. Entered, and new HO + breakout popped out. I decided to hold it, but I was afraid/in doubt as I'm not with the rules.
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  • #7,228
  • Oct 3, 2016 4:25pm Oct 3, 2016 4:25pm
Quoting LinFX
The 1st trade of 10: {image} BE+5 I have doubt in this trade. Should I hold or exit immediately when a new highest open appeared after an entry (from old highest open)?
Entered a valid HOLO.
Price reversed.
Made a new HOLO.
Did your stop loss get triggered?
No?
What are the options?
1) Wait for original entry to trigger SL or make a profit.
2) Open another HOLO trade at new level.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #7,229
  • Oct 3, 2016 5:33pm Oct 3, 2016 5:33pm
6/10

EU (last night)
-11 /|\ Total gain: +3

Sometimes, broker's law giving me hard times, about High spread (mini acc) and some minimum levels for placing SL from running price
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  • #7,230
  • Oct 3, 2016 5:45pm Oct 3, 2016 5:45pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #7,231
  • Oct 3, 2016 5:54pm Oct 3, 2016 5:54pm
Quoting LinFX
Hi all, woke up at 4.30AM to trade this: Trade 4 of 10: {image} GBPUSD BE+5pips - a nice 5pips morning coffee! Tooslow, can I get some view/opinion with my question in this post please? it's about what would you do when you have an entry, and new HO/LO is created. would you close the trade or just hold on to it? I'm still reading through the thread now, lots of stuffs to learn Cheers!!
sometimes I'm confused with the Rule #1, may I ask some explanation?
1. it's my understanding that your long order was outside the rule "No entry on H1, M30, M15, or M5 Breakout" as for the 00:40 candle makes a new Day's low.
2. this is just for my clarification, if you were awake from start of the broker, will you put the 'lose long' starting 3rd candle?

thanks!
  • #7,232
  • Oct 3, 2016 6:40pm Oct 3, 2016 6:40pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #7,233
  • Edited 6:58pm Oct 3, 2016 6:45pm | Edited 6:58pm
Quoting TooSlow
{quote} Entered a valid HOLO. Price reversed. Made a new HOLO. Did your stop loss get triggered? No? What are the options? 1) Wait for original entry to trigger SL or make a profit. 2) Open another HOLO trade at new level.
Thanks for these options, TooSlow!

Quoting aosora
{quote} sometimes I'm confused with the Rule #1, may I ask some explanation? 1. it's my understanding that your long order was outside the rule "No entry on H1, M30, M15, or M5 Breakout" as for the 00:40 candle makes a new Day's low. 2. this is just for my clarification, if you were awake from start of the broker, will you put the 'lose long' starting 3rd candle? thanks!
Hello sobat,

Check this post: The general idea is to enter the trade when price is reversing from the daily high or the daily low.

To tell you the truth, I'm not quite sure either with this zone where "time shifting" from yesterday to today. Different brokers with different GMT offset will have different stuffs, but My logic is simple - Price was at/near yesterday low - probably gonna flip here. Plus there is a setup, so I trade it.

I think you've caught me bending the rule. I didn't thought about it much when I took the trade as I was just woke up.
Simplicity is the key to brilliance
  • #7,234
  • Oct 3, 2016 8:10pm Oct 3, 2016 8:10pm
no entry, no entry, waiting, waiting.

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Simplicity is the key to brilliance
  • #7,235
  • Oct 3, 2016 8:45pm Oct 3, 2016 8:45pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #7,236
  • Oct 3, 2016 9:45pm Oct 3, 2016 9:45pm
Trade 5 of 10:

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0.7 pip of late entry. So I think I still haven't break rule #2

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GBPUSD: BE+15 pips - just in time for a lunch break. Cheers!
Simplicity is the key to brilliance
  • #7,237
  • Oct 3, 2016 9:54pm Oct 3, 2016 9:54pm
is it correct
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hsi
  • #7,238
  • Oct 3, 2016 10:49pm Oct 3, 2016 10:49pm
Quoting TooSlow
{quote} Entered a valid HOLO. Price reversed. Made a new HOLO. Did your stop loss get triggered? No? What are the options? 1) Wait for original entry to trigger SL or make a profit. 2) Open another HOLO trade at new level.
What do we do if we notice that momentum is shifting against us? Do we sit there and wait till SL gets hit, or can we close early?
  • #7,239
  • Oct 3, 2016 11:24pm Oct 3, 2016 11:24pm
Missed GJ
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  • #7,240
  • Oct 4, 2016 12:20am Oct 4, 2016 12:20am
BE +5
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