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Highest Open / Lowest Open Trade

  • #9,841
  • Jan 11, 2017 1:15pm Jan 11, 2017 1:15pm
+3 captured.. I am done XD... I wanted to feel the urge.
  • #9,842
  • Jan 11, 2017 1:31pm Jan 11, 2017 1:31pm
Too busy elsewhere and missed this nice one from the exotic side of town...

Attached Image (click to enlarge)
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Can't complain, it's been a grand old day in FX-Land
  • #9,843
  • Jan 11, 2017 1:36pm Jan 11, 2017 1:36pm
Am I following the rules correctly?
Got stop out. +24
Attached Image (click to enlarge)
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  • #9,844
  • Jan 11, 2017 1:42pm Jan 11, 2017 1:42pm
Quoting lemercenaire
Too busy elsewhere and missed this nice one from the exotic side of town... US500M15toobusyandmissedit11thjan17.png;2135992 Can't complain, it's been a grand old day in FX-Land {image}
GU PAID
  • #9,845
  • Jan 11, 2017 1:55pm Jan 11, 2017 1:55pm
Quoting wannalearn12
{quote} GU PAID
Aye!

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.ecnM5asHOLOoffwego11thjan17.png Size: 34 KB
  • #9,846
  • Jan 11, 2017 3:38pm Jan 11, 2017 3:38pm
What's the most most important thing a trader needs to know?

Answer: The most important skill you
have in trading is knowing exactly what
to do after a loss. What you do
next is what makes you great.

Let me take you through a little
progression.

If you know how to trade, you love it!
If you love trading, you know that losses
happen.

If your trade loses, you might think
it happened because you were wrong or
you made a mistake, or you just didn't
know what you were doing.

I have good news for you. None of that is true.
You were not wrong. You did not make a
mistake, nor did you fail to understand
what the market was doing.

When your trade loses, it's because the market's
timing was not there for you. Not only were
you not wrong to stop out of the trade, you
were exactly right!

What you do next is what defines you
as a trader.

Anyone can trade. Anyone can learn a strategy
and open and close a trade. What separates the
winners from the losers is what the trader does
after a loss.

- Jennifer Thornburg
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,847
  • Jan 11, 2017 5:40pm Jan 11, 2017 5:40pm
Quoting thole91
Am I following the rules correctly? Got stop out. +24 {image}
Well, If you aren't trading in an H1 BreakOut candle, an m15 candle opened below your last New Lowest H1 Open level and you entered when price crossed back over that level, then yes, you are following the rules correctly.

So were you, did it and did you?
  • #9,848
  • Jan 11, 2017 6:03pm Jan 11, 2017 6:03pm
Quoting lemercenaire
{quote} Well, If you aren't trading in an H1 BreakOut candle, an m15 candle opened below your last New Lowest H1 Open level and you entered when price crossed back over that level, then yes, you are following the rules correctly. So were you, did it and did you?
Truly understand now. Thanks for clear up everything because I made mistakes trading in an H1 Breakout candle and took some losses. Good thing it was a demo.
  • #9,849
  • Jan 11, 2017 6:10pm Jan 11, 2017 6:10pm
Quoting thole91
{quote} Truly understand now. Thanks for clear up everything because I made mistakes trading in an H1 Breakout candle and took some losses. Good thing it was a demo.
No worries - now flush it and move onto the next trade.

Keep it going, you learn by doing around here. You'll get there.
  • #9,850
  • Jan 12, 2017 3:36am Jan 12, 2017 3:36am
EJ +1
Attached Image (click to enlarge)
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there is always, always another trade!!
  • #9,851
  • Jan 12, 2017 3:39am Jan 12, 2017 3:39am
Attached Image (click to enlarge)
Click to Enlarge Name: EU5 1-12a.png Size: 24 KB

I took this trade off the hour bar it had not qualified with the 15m or 5m. I was able to capture 5.4. The stop was quite large at 26.
  • #9,852
  • Jan 12, 2017 3:54am Jan 12, 2017 3:54am
UJ +10

little explanation:
technically as per rule i was few pipette short to move SL to +10...but looking at the chart, the size of SL bellow ( even though i used a lessen 10 pips bellow last swing on M5) decided to just secure the profit.
the risk that i can miss out on a "home run" of 20-25-or more pips, the upside that vs. +5 it booked a +10, which is a decent number of pips too.
Attached Image (click to enlarge)
Click to Enlarge Name: HOLO 12.01.2017.2..png Size: 59 KB
there is always, always another trade!!
  • #9,853
  • Jan 12, 2017 4:01am Jan 12, 2017 4:01am
Quoting profitfarmer
UJ +10 little explanation: technically as per rule i was few pipette short to move SL to +10...but looking at the chart, the size of SL bellow ( even though i used a lessen 10 pips bellow last swing on M5) decided to just secure the profit. the risk that i can miss out on a "home run" of 20-25-or more pips, the upside that vs. +5 it booked a +10, which is a decent number of pips too. {image}
Seems to me you were doing what TS loves - using your brain to make an informed decision - well done.
  • #9,854
  • Edited 6:23am Jan 12, 2017 5:44am | Edited 6:23am
Trade #10 EU

Just took this one
Attached Image (click to enlarge)
Click to Enlarge Name: 2017-01-12 06_39_41-EURUSD,M15.png Size: 55 KB


Edit: Ouch -25
  • #9,855
  • Edited 6:38am Jan 12, 2017 6:22am | Edited 6:38am
Hope you fare better on the EU, I took it just a bit earlier for -23, after snagging +5.4 on the first go round.

I feel your pain scott.......but they happen.....on to the next.
  • #9,856
  • Jan 12, 2017 6:40am Jan 12, 2017 6:40am
Quoting hal7
Hope you fare better on the EU, I took it just a bit earlier for -23, after snagging +5.4 on the first go round.
Good for you. It did not turn well for me this time...
  • #9,857
  • Jan 12, 2017 6:44am Jan 12, 2017 6:44am
Finally completed the challenge. Took me quite a while. 8 winners and 2 losers:
+5 +1 +5 +5 +5 -18 +15 +1 +5 -25
Done with 0.01 lot in real account. If with proper MM result will be on the positive side. Next try to practice more kicks I guess.
  • #9,858
  • Jan 12, 2017 6:48am Jan 12, 2017 6:48am
Quoting scottlhh
Finally completed the challenge. Took me quite a while. 8 winners and 2 losers: +5 +1 +5 +5 +5 -18 +15 +1 +5 -25 Done with 0.01 lot in real account. If with proper MM result will be on the positive side. Next try to practice more kicks I guess.
Good job, keep kicking.
  • #9,859
  • Jan 12, 2017 7:29am Jan 12, 2017 7:29am
Attached Image (click to enlarge)
Click to Enlarge Name: EU7 1-12.png Size: 27 KB


I was hesitant to take this trade. Above yesterday's high, seemingly aboard the typical freight train, and news coming in 15. I took it anyways. Moved to BE+1, then trailing +5. Stopped +6.3.
  • #9,860
  • Jan 12, 2017 7:30am Jan 12, 2017 7:30am
EU +10

opted manual close, 5 min to high impact news.
Attached Image (click to enlarge)
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there is always, always another trade!!
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