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Highest Open / Lowest Open Trade

  • #10,881
  • Mar 21, 2017 9:11am Mar 21, 2017 9:11am
Trade #1
-7.4 pips.
NZDUSD
Attached Image (click to enlarge)
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  • #10,882
  • Mar 21, 2017 9:12am Mar 21, 2017 9:12am
Quoting lemercenaire
{quote} If you get to the end of your challenge and are happy with how it's gone with the pair you used, then keep that one and start to look for similar characteristics on another couple of pairs. You could do worse than check out posts #9895 and especially make note of the conclusions shared on the following #9896. Good place to start your search .
thanks a lot! how do you treat revisits to the same level? just asking because cable jus opened up above the h1 open again and traded below? are we done with this situation now?
  • #10,883
  • Mar 21, 2017 9:16am Mar 21, 2017 9:16am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #10,884
  • Mar 21, 2017 9:18am Mar 21, 2017 9:18am
Quoting Piphunter00
{quote} thanks a lot! how do you treat revisits to the same level? just asking because cable jus opened up above the h1 open again and traded below? are we done with this situation now?
Follow the rules.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #10,885
  • Mar 21, 2017 9:19am Mar 21, 2017 9:19am
Quoting Piphunter00
{quote} thanks a lot! how do you treat revisits to the same level? just asking because cable jus opened up above the h1 open again and traded below? are we done with this situation now?
I've got it in a breakout just now and that gives you time to think - but generally, I will have no hesitation in hitting a level multiple times, albeit paying attention to basic price-action at that level (in this instance as it's at the high-point, I'd be wary if we were to get higher lows as the moves progressed, etc).
  • #10,886
  • Mar 21, 2017 9:20am Mar 21, 2017 9:20am
Quoting TooSlow
{image}
Can't understand what you want to say posting your chart. Price is below yesterday's low, so we don't trade it. What does that red cross mean?
  • #10,887
  • Mar 21, 2017 9:21am Mar 21, 2017 9:21am
Quoting BroX
Trade #1 -7.4 pips. NZDUSD {image}
NZD red news.
  • #10,888
  • Mar 21, 2017 9:24am Mar 21, 2017 9:24am
Quoting lemercenaire
{quote} NZD red news.
Oops... I usually check news on investing and it showed middle strength there...
  • #10,889
  • Mar 21, 2017 9:25am Mar 21, 2017 9:25am
Quoting BroX
{quote} Oops... I usually check news on investing and it showed middle strength there...
Well, you won't make that mistake again, will you .
  • #10,890
  • Mar 21, 2017 9:38am Mar 21, 2017 9:38am
Quoting BroX
{quote} Can't understand what you want to say posting your chart. Price is below yesterday's low, so we don't trade it. What does that red cross mean?
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #10,891
  • Mar 21, 2017 9:45am Mar 21, 2017 9:45am
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Sometimes bending the rules works in your favor.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #10,892
  • Mar 21, 2017 9:51am Mar 21, 2017 9:51am
Quoting lemercenaire
{quote} If you get to the end of your challenge and are happy with how it's gone with the pair you used, then keep that one and start to look for similar characteristics on another couple of pairs. You could do worse than check out posts #9895 and especially make note of the conclusions shared on the following #9896. Good place to start your search .

post 9895 very motivated
"The essence of Discipline is that there are no exceptions" - Jack Schwager
  • #10,893
  • Mar 21, 2017 10:07am Mar 21, 2017 10:07am
Trade #2
-5.5 pips.
AUDCHF
(When I opened a trade, there was no warning that H1 Low is broken)
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  • #10,894
  • Mar 21, 2017 10:22am Mar 21, 2017 10:22am
@TooSlow would you be against me writing an EA for this and sharing the mq4 code?
  • #10,895
  • Mar 21, 2017 10:28am Mar 21, 2017 10:28am
Getting the hang of it... Used a 5 pip trailing stop after moving to BE+1. I wait until price moves 7 pips.
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  • #10,896
  • Mar 21, 2017 10:31am Mar 21, 2017 10:31am
Quoting BroX
Trade #2 -5.5 pips. AUDCHF (When I opened a trade, there was no warning that H1 Low is broken) {image}
Be really, really, careful with anything attached to the CHF. Good advice in general but especially this week or so, as there are rumours that the SNB are going to be getting ''creative'' again.
  • #10,897
  • Mar 21, 2017 10:34am Mar 21, 2017 10:34am
Quoting samsha786
@TooSlow would you be against me writing an EA for this and sharing the mq4 code?
Only if you don't mind being taken out behind the building and shot...

(You may want to read Post #1...down near the bottom...the HUGE RED LETTERS may give you a clue to the answer you're going to get, lol).

Good luck
  • #10,898
  • Mar 21, 2017 11:16am Mar 21, 2017 11:16am
I see some people trade even when yesterday's high( low ) was broken. Is there any additional filters or rules we should follow when it happens?

Quoting lemercenaire
{quote} Be really, really, careful with anything attached to the CHF. Good advice in general but especially this week or so, as there are rumours that the SNB are going to be getting ''creative'' again.
Okay, thanks
  • #10,899
  • Mar 21, 2017 11:19am Mar 21, 2017 11:19am
When we have for example lower open we can take only first signal? Because when I looking on charts the first is the most effective.
"The essence of Discipline is that there are no exceptions" - Jack Schwager
  • #10,900
  • Mar 21, 2017 11:37am Mar 21, 2017 11:37am
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is this situation valid? haven't taken it, just trying to train the eye
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