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Highest Open / Lowest Open Trade

  • #8,601
  • Nov 3, 2016 9:11am Nov 3, 2016 9:11am
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow2.png Size: 68 KB


5 GREEN H1 candles in a row.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #8,602
  • Nov 3, 2016 9:13am Nov 3, 2016 9:13am
was only asking.
sometimes one can get motivation of watching a master and knowing what one can be capable given time.
sometimes one can get dismissive answers.
wanted to know how you trade GU. the chart you posted wont give the answer. even if X number green candle was pointed out. however great the hindsight looks on the move.
since the suggested one pair i am watching havent give a single signal in the past 8 hours, i have more time to observe and think.
there is always, always another trade!!
  • #8,603
  • Nov 3, 2016 9:15am Nov 3, 2016 9:15am
Trader's Serenity Prayer

Grant me the serenity
to accept the things I cannot change;
courage to change the things I can;
and wisdom to know the difference.

Trading one trade at a time;
enjoying one trade at a time;
accepting stop losses as the pathway to prosperity;


Price - I can control at what price I trade.
Direction - I can control what direction I choose to trade.
Time - I can control when I trade.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #8,604
  • Nov 3, 2016 9:16am Nov 3, 2016 9:16am
There are some things we can control as traders and some things that we can not. We need to learn the difference to limit our frustration and win in this game.
We can control:
How much we risk per trade.
How big a position size we take.
What time frame we trade.
What market we trade.
Our style of trading.
Whether we stick with our trading plan or go off of it.
If we honor our stop losses and trailing stops.
How we react to a winning or losing trade.


We can not control:
Whip saws when the trend reverses on us.
Gaps in opening prices both up and down.
Headline risk.
Natural disasters.
Whether a trend continues or reverses the moment we open a position.
Whether any individual trade wins or loses.
How many winning or losing trades we have in a row.


The battle for your long term trading success is won or loss in your head. The decision to whether keep going after losing money or to quit is made at the point of maximum frustration with the markets. To keep going you have to keep positive, and keep trading. Knowing the difference between you making a mistake or the market simple not matching your style will go a long way in keeping down your stress and negative self talk. Here is an affirmation for traders based off the serenity prayer used by AA.




I must learn to know the difference between the things I cannot control;
discipline to control the things I can; and the knowledge to know the difference.
Taking one trade at a time;
Enjoying one winner at a time;
Accepting draw downs as just the reality of trading;
Taking, small losses and big wins,
trading the market as it is, not as I would believe it should be;
Trusting that trading a robust system will be profitable in the long term;
That I may be reasonably profitable in my trading,
and supremely happy with my capital appreciation.
Forever trading.
Amen.


-Steve Burns

My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #8,605
  • Nov 3, 2016 9:17am Nov 3, 2016 9:17am
Quoting profitfarmer
was only asking. sometimes one can get motivation of watching a master and knowing what one can be capable given time. sometimes one can get dismissive answers. wanted to know how you trade GU. the chart you posted wont give the answer. even if X number green candle was pointed out. however great the hindsight looks on the move. since the suggested one pair i am watching havent give a single signal in the past 8 hours, i have more time to observe and think.
Perhaps I did not understand the question.
Please rephrase.

"Successful people ask better questions, and as a result, they get better answers." - Tony Robbins

Socratic method is named after the classical Greek philosopher Socrates. It is a form of inquiry and discussion between individuals, based on asking and answering questions to stimulate critical thinking and to illuminate ideas.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #8,606
  • Nov 3, 2016 9:24am Nov 3, 2016 9:24am
Quoting profitfarmer
was only asking. sometimes one can get motivation of watching a master and knowing what one can be capable given time. sometimes one can get dismissive answers. wanted to know how you trade GU. the chart you posted wont give the answer. even if X number green candle was pointed out. however great the hindsight looks on the move. since the suggested one pair i am watching havent give a single signal in the past 8 hours, i have more time to observe and think.
Are you asking how I am managing the trade?
By moving the stop to BE+1, BE+5, etc...
By exiting part of the position to bank pips.
By exiting all of the position.
By dancing with the market.

Attached Image
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #8,607
  • Nov 3, 2016 9:29am Nov 3, 2016 9:29am
Quoting profitfarmer
was only asking. sometimes one can get motivation of watching a master and knowing what one can be capable given time. sometimes one can get dismissive answers. wanted to know how you trade GU. the chart you posted wont give the answer. even if X number green candle was pointed out. however great the hindsight looks on the move. since the suggested one pair i am watching havent give a single signal in the past 8 hours, i have more time to observe and think.
There is never an intention to dismiss someone's question.
The intention is to be of service.
Teaching someone to fish in the proper course.
Trading can only be learned by trading.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #8,608
  • Nov 3, 2016 9:30am Nov 3, 2016 9:30am
Quoting TooSlow
{quote} Perhaps I did not understand the question. Please rephrase. "Successful people ask better questions, and as a result, they get better answers." - Tony Robbins Socratic method is named after the classical Greek philosopher Socrates. It is a form of inquiry and discussion between individuals, based on asking and answering questions to stimulate critical thinking and to illuminate ideas.
OK, question reloaded. simplified.

you post GU chart, point out that it has a row of consecutive green candles.
GU give entry. Wiggling. Then falling.
system rule: at +5 pips SL move to BE+1
you post GU chart showing a huge fall. but screenshot suggesting also that if SL was as per system rule you have no part of the move but BE+1
was the SL move rule over-written due the precondition of X green candles, and you book large gains? or just happen to take time to screenshot a BE+1 trade.
in the past i saw other similar situations posted.
there is always, always another trade!!
  • #8,609
  • Nov 3, 2016 9:38am Nov 3, 2016 9:38am
Quoting TooSlow
{quote} There is never an intention to dismiss someone's question. The intention is to be of service. Teaching someone to fish in the proper course. Trading can only be learned by trading.
sometimes trading just not happen... "since the suggested one pair i am watching havent give a single signal in the past 8 hours"
asking questions and observing is only second best to trading.

appreciate your work teaching to fish.

having a fishing rod is the basic, but knowing the right bait for each fish type is key.
( not Bruce Lee, no picture)
there is always, always another trade!!
  • #8,610
  • Nov 3, 2016 9:49am Nov 3, 2016 9:49am
Quoting profitfarmer
{quote} OK, question reloaded. simplified. you post GU chart, point out that it has a row of consecutive green candles. GU give entry. Wiggling. Then falling. system rule: at +5 pips SL move to BE+1 you post GU chart showing a huge fall. but screenshot suggesting also that if SL was as per system rule you have no part of the move but BE+1 was the SL move rule over-written due the precondition of X green candles, and you book large gains? or just happen to take time to screenshot a BE+1 trade. in the past i saw other similar situations posted.
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow.png Size: 56 KB


M5 GPBUSD chart.
Short at highest H1 open.
Looks like trade moved to BE+5.
MT4 charts deceive.
My P/L pips column was never at BE+5 because the ASK was not there yet.
Was only at BE+4.
Understand?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #8,611
  • Nov 3, 2016 9:51am Nov 3, 2016 9:51am
yes.
there is always, always another trade!!
  • #8,612
  • Nov 3, 2016 9:53am Nov 3, 2016 9:53am
Quoting profitfarmer
{quote} sometimes trading just not happen... "since the suggested one pair i am watching havent give a single signal in the past 8 hours" asking questions and observing is only second best to trading. appreciate your work teaching to fish. having a fishing rod is the basic, but knowing the right bait for each fish type is key. ( not Bruce Lee, no picture)
Please post chart showing the pair you are watching.
Right bait.
Right time.
Showing up with right bait when fish have full bellies means you will have empty belly.

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #8,613
  • Nov 3, 2016 9:56am Nov 3, 2016 9:56am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #8,614
  • Nov 3, 2016 9:58am Nov 3, 2016 9:58am
look for setups mainly in London and early NY session.
Attached Image (click to enlarge)
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there is always, always another trade!!
  • #8,615
  • Nov 3, 2016 10:10am Nov 3, 2016 10:10am
Quoting profitfarmer
look for setups mainly in London and early NY session. {image}
Attached Image (click to enlarge)
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Start of NY marked by vertical line.
Only entry was a rule bender.
Dance with the market.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #8,616
  • Nov 3, 2016 10:16am Nov 3, 2016 10:16am
i dont bend the rules. not yet.
i trade other than HOLO, my usual scalping.
than gives some action here and there.
there is always, always another trade!!
  • #8,617
  • Nov 3, 2016 10:27am Nov 3, 2016 10:27am
Quoting profitfarmer
i dont bend the rules. not yet. i trade other than HOLO, my usual scalping. than gives some action here and there.
HOLO or not HOLO.
Chose one method.
Stick with it.
Master it.


Attached Image
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #8,618
  • Nov 3, 2016 10:28am Nov 3, 2016 10:28am
Quoting TooSlow
{quote} {image} Start of NY marked by vertical line. Only entry was a rule bender. Dance with the market.

Hello and First of all lemme congradualte you on starting a excellent helping thread for members and newbies like me . i would like to join this thread from today and would be looking forward to advice and where to begin . i.e. Templates , indies and rules used in this technique .

I would be looking forward to positive insight and help from a senior and experience trader like you and other fellow members.

Regards and Best wishes,

Sucess4haseeb
  • #8,619
  • Nov 3, 2016 10:39am Nov 3, 2016 10:39am
Quoting sucess4hasee
{quote} Hello and First of all lemme congradualte you on starting a excellent helping thread for members and newbies like me . i would like to join this thread from today and would be looking forward to advice and where to begin . i.e. Templates , indies and rules used in this technique . I would be looking forward to positive insight and help from a senior and experience trader like you and other fellow members. Regards and Best wishes, Sucess4haseeb
Welcome to the thread.
Go to POST #1.
Read POST #1.
You will find the latest template and indicators by clicking on the paperclip attachment icon at the top right hand side of the screen to the left of REPLY TO THIS THREAD.
READ POST #1.
You will only learn HOLO by trading HOLO.
Take the 10 TRADE CHALLENGE.
Attached Image
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #8,620
  • Nov 3, 2016 11:07am Nov 3, 2016 11:07am
Quoting TooSlow
{quote} HOLO or not HOLO. Chose one method. Stick with it. Master it. {image}
partly disagree.
it is not all black and white.
your request was to concentrate in HOLO in 1 pair. even after the 10 trade challenge was done, still was banned to focus on 1 pair.
fine. but if whole day there wont be a valid trade, and the alternative to bend HOLO...

my scalping has nothing to do with HOLO. neither from a FF system, my thing. not attention intense usually.
nothing that can hinder me much to have a look on 1 HOLO chart once in every 5 min or so.
it isnt like i am picking up every day a different system from the forum to toy around with.
the 2 things can compliment each other. that is the plan at least. for now.
maybe once it is deemed that i can move on from trading 1 pair only.
in the meantime days like today would be the utmost boredom if only confined to watching 1 pair on the cart for 8 hours, without an entry.
there is always, always another trade!!
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