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Highest Open / Lowest Open Trade

  • #9,401
  • Dec 16, 2016 5:56am Dec 16, 2016 5:56am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,402
  • Dec 16, 2016 6:02am Dec 16, 2016 6:02am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,403
  • Dec 16, 2016 6:25am Dec 16, 2016 6:25am
Becoming fluent in OPTIMIZE

They say you cant really claim fluency in a foreign language until you've dreamed in the language in other words, until its lodged in your subconscious.

The metaphor works for Foundation Training as well: You can only claim that your body is decompressed and anchored when the movements and postures of the exercises in this book have become automatic, when youre no longer translating in your head how to hold yourself and move right. You're doing it right without thinking about it unconsciously if not subconsciously.

Eric Goodman

How about fluency in trading (HOLO)?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,404
  • Dec 16, 2016 6:52am Dec 16, 2016 6:52am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,405
  • Dec 16, 2016 7:04am Dec 16, 2016 7:04am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,406
  • Dec 16, 2016 7:39am Dec 16, 2016 7:39am
Thank you for your help and for your patience.

I take this trade, is it a good setup?
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Guppy re-invented All Time Return: 83.3%
  • #9,407
  • Dec 16, 2016 7:59am Dec 16, 2016 7:59am
Is it a good setup?
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Guppy re-invented All Time Return: 83.3%
  • #9,408
  • Dec 16, 2016 8:13am Dec 16, 2016 8:13am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,409
  • Dec 16, 2016 8:37am Dec 16, 2016 8:37am
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RULE BENDER - M30 Lowest Open.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,410
  • Dec 16, 2016 9:03am Dec 16, 2016 9:03am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,411
  • Dec 16, 2016 9:54am Dec 16, 2016 9:54am
Someone may recite much of the texts, but if he does not practice them, such a heedless person is like a herdsman who only counts the cows of others; he does not enjoy the rewards of the life of a truth-seeker. Another may be able to recite only a few words from the texts, but if he lives the life of Dhamma, taking steps on the path from its beginning to the goal, then he enjoys the rewards of the life of a truth-seeker.

Do not simply believe whatever you are told, or whatever has been handed down from past generations, or what is common opinion, or whatever the scriptures say. Do not accept something as true merely by deduction or inference, or by considering outward appearances, or by partiality for a certain view, or because of its plausibility, or because your teacher tells you it is so. But when you yourselves directly know, These principles are unwholesome, blameworthy, condemned by the wise; when adopted and carried out they lead to harm and suffering, then you should abandon them. And when you yourselves directly know, These principles are wholesome, blameless, praised by the wise; when adopted and carried out they lead to welfare and happiness, then you accept and practice them.

Source: The Art of Living, Vipassana Meditation, as taught by S.N. Goenka.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,412
  • Dec 16, 2016 10:05am Dec 16, 2016 10:05am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,413
  • Dec 16, 2016 10:08am Dec 16, 2016 10:08am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,414
  • Dec 16, 2016 10:42am Dec 16, 2016 10:42am
Quoting TooSlow
{image} {image} HIGHEST OPEN / LOWEST OPEN TRADE Place a line at the highest H1 open and lowest H1 open for the current day. Sell short at the highest H1 open after price goes up through it and comes back down. Buy at the lowest H1 open after price goes down through it and comes back up. Stop loss is the current daily high or current daily low. Adjust your position size accordingly. Take profit by moving stop. When trade is +5 or more, move stop to BE+1. When trade is +10 or more, move to to BE+5, or switch to trailing stop. Optional exit is to...
tooslow,

New to your thread and trying to ensure I understand your methodology before i test it out for myself. From what I gather, once a 15m candle opens above highest H1 open of the day/below lowest h1 open of the day, you advocate placing a limit order at that h1 high open/low open, with a stop at the current daily high/low, so on sell orders, price will already be on its way down when you enter the trade, and on buy orders, price will already be on its way back up (some call this confirmation entries, i believe). Doesnt this make position sizing difficult, as youre constantly adjusting the risk, based on how high above the previous H1 open or how far below the previous h1 open the 15m candle makes it before reversing? do you keep the trade on until a new h1 open hi/lo has been established, assuming your entry hasnt been triggered?
  • #9,415
  • Dec 16, 2016 10:44am Dec 16, 2016 10:44am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,416
  • Dec 16, 2016 10:49am Dec 16, 2016 10:49am
Quoting therealheel
{quote} tooslow, New to your thread and trying to ensure I understand your methodology before i test it out for myself. From what I gather, once a 15m candle opens above highest H1 open of the day/below lowest h1 open of the day, you advocate placing a limit order at that h1 high open/low open, with a stop at the current daily high/low, so on sell orders, price will already be on its way down when you enter the trade, and on buy orders, price will already be on its way back up (some call this confirmation entries, i believe). Doesnt this make position...
Welcome to the thread, therealheel.

Doesnt this make position sizing difficult, as youre constantly adjusting the risk, based on how high above the previous H1 open or how far below the previous h1 open the 15m candle makes it before reversing?

No.
You can run a spreadsheet to know your position size for each SL.
Or, you can use ADVANCED ALIEN CIVILIZATION tools .
Or, you can just use the same lot size.


do you keep the trade on until a new h1 open hi/lo has been established, assuming your entry hasnt been triggered?

Do not understand the question.
It can be interpreted in more than one way.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,417
  • Dec 16, 2016 11:06am Dec 16, 2016 11:06am
Quoting TooSlow
{quote} Welcome to the thread, therealheel. Doesnt this make position sizing difficult, as youre constantly adjusting the risk, based on how high above the previous H1 open or how far below the previous h1 open the 15m candle makes it before reversing? No. You can run a spreadsheet to know your position size for each SL. Or, you can use ADVANCED ALIEN CIVILIZATION tools . Or, you can just use the same lot size. do you keep the trade on until a new h1 open hi/lo has been established, assuming your entry hasnt been triggered? Do not understand...

Sorry, the lightbulb turned on for both of my questions when i re-read michaelg's breakdown in post 2714. Incidently, i used the position size calculator on babypips.com. very easy, no new downloads or programming to set up if anybody wants to check it out. My only other question before i experiment with it is do you have specific currency pairs you think it works for, or do you believe the system can be applied to any currency pair?
  • #9,418
  • Dec 16, 2016 11:51am Dec 16, 2016 11:51am
Quoting therealheel
{quote} Sorry, the lightbulb turned on for both of my questions when i re-read michaelg's breakdown in post 2714. Incidently, i used the position size calculator on babypips.com. very easy, no new downloads or programming to set up if anybody wants to check it out. My only other question before i experiment with it is do you have specific currency pairs you think it works for, or do you believe the system can be applied to any currency pair?
Yes.
It is a known fact.
Not a belief.
Read the thread.
Charts of many pairs shown.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,419
  • Dec 16, 2016 12:11pm Dec 16, 2016 12:11pm
TooSlow, you are full time trader?
You dont need to answer on this question, if you dont want.
Thanks!
  • #9,420
  • Dec 16, 2016 1:35pm Dec 16, 2016 1:35pm
Quoting 8tango
Is it a good setup? {image}
Hi 8tango. Two points to answer your question.
1. The entry is wrong. You enter as soon as price crosses the new H1 level (either the High as in this case, or the Low).
2. Be careful that you are not entering on an H1 candle breakout . Hard to tell as you are on the m5 chart but a quick look at my charts on the H1 would suggest to me that when price was up there, you were. You also have a very strong warning on the top left of your chart - it's there for a reason.
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