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Highest Open / Lowest Open Trade

  • #9,821
  • Jan 11, 2017 2:05am Jan 11, 2017 2:05am
I'm new here and also newbie in trading. It's very interesting and easy method. I tried to learn other methods online as well, but I got overwhelmed. So, thank you very much to all of you for sharing and explaining in details of this clutter-free method.

1 thing that is a bit confusing for me is "Current day means today according to your broker." , does it mean if we use different broker, it is possible that the place where we put the lines will be different from 1 person to another. Can I use the session's trading time? i.e: using London's session time to trade GBP or using NY's session time to trade USD

Thank you!
  • #9,822
  • Jan 11, 2017 3:39am Jan 11, 2017 3:39am
Quoting casper.xau79
I'm new here and also newbie in trading. It's very interesting and easy method. I tried to learn other methods online as well, but I got overwhelmed. So, thank you very much to all of you for sharing and explaining in details of this clutter-free method. 1 thing that is a bit confusing for me is "Current day means today according to your broker." , does it mean if we use different broker, it is possible that the place where we put the lines will be different from 1 person to another. Can I use the session's trading time? i.e: using London's session...
I also wondered this...
I think the answer is that this method relies on the fact that 'most of the time' price will close above the lowest open or below the highest open. So whether our our day starts at 00:00 or 22:00 the theory is the same, but the actual results may differ.

Has anyone tested results using different daily opens?
  • #9,823
  • Jan 11, 2017 3:41am Jan 11, 2017 3:41am
Quoting casper.xau79
I'm new here and also newbie in trading. It's very interesting and easy method. I tried to learn other methods online as well, but I got overwhelmed. So, thank you very much to all of you for sharing and explaining in details of this clutter-free method. 1 thing that is a bit confusing for me is "Current day means today according to your broker." , does it mean if we use different broker, it is possible that the place where we put the lines will be different from 1 person to another. Can I use the session's trading time? i.e: using London's session...
Hi casper. Welcome to the thread. This question has been discussed at various times through the thread. I really need to add a document covering the question to the paperclip and Post #1!

Anyway, one more time...It mostly effects those trading in the Southern Hemisphere. I see you are trading from Indonesia (though strangely also 5 hrs behind me - dunno how that works, lol). You will have the problem of a lack of data for your indi to work with. Simplest way to do things is to download a UK-Based broker's demo and place your indi on there and place your trades on your live broker.

If you are in the US, then we have lots of US-based traders here - including TooSlow himself - and we don't have any problems matching up (I'm UK-based).

In the end, it doesn't really matter. The method works either way. Trade what you see. Simple.
  • #9,824
  • Jan 11, 2017 4:18am Jan 11, 2017 4:18am
ready.... signal sell on USDJPY, sell stop at higher open H1
Attached Image (click to enlarge)
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  • #9,825
  • Jan 11, 2017 5:25am Jan 11, 2017 5:25am
EU SL -7
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there is always, always another trade!!
  • #9,826
  • Jan 11, 2017 6:22am Jan 11, 2017 6:22am
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Pretty much the same trade as you profitfarmer stopped out at -12. It did trigger and then hung around for some time before moving lower. It is below yesterday's low which is the caution flag, but I have also seen them rocket up from this zone. In this case the train left the station.
  • #9,827
  • Jan 11, 2017 7:07am Jan 11, 2017 7:07am
Quoting casper.xau79
I'm new here and also newbie in trading. It's very interesting and easy method. I tried to learn other methods online as well, but I got overwhelmed. So, thank you very much to all of you for sharing and explaining in details of this clutter-free method. 1 thing that is a bit confusing for me is "Current day means today according to your broker." , does it mean if we use different broker, it is possible that the place where we put the lines will be different from 1 person to another. Can I use the session's trading time? i.e: using London's session...
Read POST #1

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,828
  • Jan 11, 2017 7:31am Jan 11, 2017 7:31am
UC +5
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there is always, always another trade!!
  • #9,829
  • Jan 11, 2017 9:18am Jan 11, 2017 9:18am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,830
  • Jan 11, 2017 9:30am Jan 11, 2017 9:30am
Good Morning,

I have a quick question. In post 1 Rule # 1 it states " No entry on H1, M15 or M5 breakout bars" So, I get this part and when the HOLO indicator says WARNING: H1 breakout...we do not take the trade.

Now, how do you proceed when it says EXTREME CAUTION PRICE ABOVE/BELOW YESTERDAY HIGH OR LOW....

Do you takes these trades but just have a much tighter trigger on the risk .....or do you just pass these as well?

Thanks!

ST65
Plan, Prepare, Execute, Repeat
  • #9,831
  • Jan 11, 2017 9:57am Jan 11, 2017 9:57am
Quoting swingtrade65
Good Morning, I have a quick question. In post 1 Rule # 1 it states " No entry on H1, M15 or M5 breakout bars" So, I get this part and when the HOLO indicator says WARNING: H1 breakout...we do not take the trade. Now, how do you proceed when it says EXTREME CAUTION PRICE ABOVE/BELOW YESTERDAY HIGH OR LOW.... Do you takes these trades but just have a much tighter trigger on the risk .....or do you just pass these as well? Thanks! ST65
Take all trades that conform to the rules.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,832
  • Jan 11, 2017 10:01am Jan 11, 2017 10:01am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,833
  • Jan 11, 2017 10:08am Jan 11, 2017 10:08am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,834
  • Jan 11, 2017 10:34am Jan 11, 2017 10:34am
Trade#9 EU

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Bagged +5
  • #9,835
  • Jan 11, 2017 10:40am Jan 11, 2017 10:40am
Attached Image (click to enlarge)
Click to Enlarge Name: EU4 1-11.png Size: 25 KB

Waited most of the day on this trade took a loss earlier. Focusing on one pair now EU. Set set to BE+1 and got knocked out within seconds. It is at +50 right now so that takes a bit to get used to.
  • #9,836
  • Jan 11, 2017 11:05am Jan 11, 2017 11:05am
VOLATILITY!

Be nimble.
Be quick.

Remember, RULE #5!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,837
  • Jan 11, 2017 11:22am Jan 11, 2017 11:22am
Quickness on volatility, yes I can see that. Also though what seems to happen, it happened twice on that move, once the stop is moved up that volatility will often come right back at that +1 and take it out.....then of course rule #5 will come into play. They will not all be like that of course.

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  • #9,838
  • Jan 11, 2017 11:23am Jan 11, 2017 11:23am
Done~ One market/ ten trades. 80% winners. Traded as I understood Post 1. Four trades today, 3 wins one SL. (This is trade 15 or 16) Done for the day.
  • #9,839
  • Jan 11, 2017 1:08pm Jan 11, 2017 1:08pm
Exercise caution (above both Last Week's and Yesterday's Pivots) but it's possibly there for us...

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  • #9,840
  • Jan 11, 2017 1:09pm Jan 11, 2017 1:09pm
Quoting lemercenaire
Exercise caution but it's possibly there for us... GBPUSD.ecnM5asHOLO11thjan17.png;2135950 {image}
It's FLYING
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