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Highest Open / Lowest Open Trade

  • #11,141
  • Apr 3, 2017 7:16am Apr 3, 2017 7:16am
Quoting lemercenaire
{quote} Never make your sl the exact point of any other level. Always shift it away. I move it at least 3 pips, never on a fib line / support or resistance / pivot. Always remember the H4 levels as well.
Same here. I put my SL 2 pips away. Sometimes that has proven to not be enough haha.
  • #11,142
  • Apr 3, 2017 7:18am Apr 3, 2017 7:18am
+2 6E (eur/usd) the 3 point below daily low stop loss saved me by 1 point

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+1 6B (gbp/usd)

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  • #11,143
  • Apr 3, 2017 7:39am Apr 3, 2017 7:39am
Very quiet day - not much opportunities so far.
  • #11,144
  • Apr 3, 2017 7:40am Apr 3, 2017 7:40am
Quoting samsha786
Very quiet day - not much opportunities so far.
It's typical for a Monday. Also add in the fact of the coming red news and the market will wait...
  • #11,145
  • Apr 3, 2017 8:05am Apr 3, 2017 8:05am
EJ closed at +1
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  • #11,146
  • Apr 3, 2017 8:51am Apr 3, 2017 8:51am
I've had 2 +1 trades this morning that after hitting my +1 turned right around and continued to make their way to my TP levels. Kinda frustrating lol.
  • #11,147
  • Apr 3, 2017 8:55am Apr 3, 2017 8:55am
Quoting PipTrek
I've had 2 +1 trades this morning that after hitting my +1 turned right around and continued to make their way to my TP levels. Kinda frustrating lol.
This seems to be one of the tougher requirements of this strategy.....to learn to accept these +1s when price stops you and reverses round for many more pips
  • #11,148
  • Apr 3, 2017 8:57am Apr 3, 2017 8:57am
Quoting Hazza88
{quote} I think this is one of the tougher requirements of this strategy.....to learn to accept these +1s when price stops you and reverses round for many more pips
Yes I agree. I am frustrated but I will stick to the trading plan. That's why it's there.
  • #11,149
  • Apr 3, 2017 10:02am Apr 3, 2017 10:02am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #11,150
  • Apr 3, 2017 10:05am Apr 3, 2017 10:05am
Quoting Hazza88
{quote} This seems to be one of the tougher requirements of this strategy.....to learn to accept these +1s when price stops you and reverses round for many more pips
RULE #5
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #11,151
  • Apr 3, 2017 10:32am Apr 3, 2017 10:32am
Quoting TooSlow
{quote} RULE #5
Do you ever bend rule #6?
  • #11,152
  • Apr 3, 2017 10:38am Apr 3, 2017 10:38am
Shutting it down for today.

Very bad day for me. -63 pips. Every trade I took either triggered and hit SL or only went to +1. Try and recover tomorrow.
  • #11,153
  • Apr 3, 2017 10:47am Apr 3, 2017 10:47am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #11,154
  • Apr 3, 2017 10:47am Apr 3, 2017 10:47am
Quoting Hazza88
{quote} Do you ever bend rule #6?
Focus on mastering HOLO before considering bending the rules.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #11,155
  • Apr 3, 2017 10:55am Apr 3, 2017 10:55am
Quoting PipTrek
Shutting it down for today. Very bad day for me. -63 pips. Every trade I took either triggered and hit SL or only went to +1. Try and recover tomorrow.
Ouch, sorry man, how many loosing trades is that? how long you been trading this method? Perhaps post 1 or 2 of your loosing trades?
  • #11,156
  • Apr 3, 2017 11:33am Apr 3, 2017 11:33am
Quoting PipTrek
Shutting it down for today. Very bad day for me. -63 pips. Every trade I took either triggered and hit SL or only went to +1. Try and recover tomorrow.
When you get a day like today, it's inevitable that they have been as a result of breakouts - Yes? No? If yes and you are getting one following another, then something is driving that price action, so time to take a step back and have a look around. See if you can figure out what the big picture is and if there is a road you can see to guide you out.

Failing that, there is nothing wrong in taking it on the chin and saying you're done for the day and you'll be back tomorrow. We have all had days like that.

Flush it. You'll be good.
  • #11,157
  • Apr 3, 2017 12:15pm Apr 3, 2017 12:15pm
Quoting lemercenaire
{quote} When you get a day like today, it's inevitable that they have been as a result of breakouts - Yes? No? If yes and you are getting one following another, then something is driving that price action, so time to take a step back and have a look around. See if you can figure out what the big picture is and if there is a road you can see to guide you out. Failing that, there is nothing wrong in taking it on the chin and saying you're done for the day and you'll be back tomorrow. We have all had days like that. Flush it. You'll be good.
Yeah the ones that lost were breakouts. But all on different pairs. Only one pair had 2 back to back breakouts, then after getting stopped out they seem to have gone into a range anyway haha. So it is what it is. Maybe I need to reduce the number of pairs I watch.
  • #11,158
  • Apr 3, 2017 12:22pm Apr 3, 2017 12:22pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #11,159
  • Apr 3, 2017 1:54pm Apr 3, 2017 1:54pm
Quoting PipTrek
{quote} Yeah the ones that lost were breakouts. But all on different pairs. Only one pair had 2 back to back breakouts, then after getting stopped out they seem to have gone into a range anyway haha. So it is what it is. Maybe I need to reduce the number of pairs I watch.
It is no coincidence that every futures index went through the floor today as well. One of those days. The difference was, the indices were phenomenal 1-2-3 trades.
  • #11,160
  • Apr 3, 2017 2:55pm Apr 3, 2017 2:55pm
Quoting PipTrek
{quote} Yeah the ones that lost were breakouts. But all on different pairs. Only one pair had 2 back to back breakouts, then after getting stopped out they seem to have gone into a range anyway haha. So it is what it is. Maybe I need to reduce the number of pairs I watch.
You are only to trade ONE PAIR until you master HOLO.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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