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Thread: HIGHEST OPEN / LOWEST OPEN TRADE

  1. #1
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    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 exit part of trade position with a profit to bank it, move stop to BE+1 and watch the market.
    NOTE:
    Do not wait for the bar to close to enter a trade.




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  2. #381
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    Quote Originally Posted by stable View Post
    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.
    Sometimes such strategy works sometimes does not work. If market is sideways so everything is OK with such strategy. But it does not work if there is trend market. On the other hand days lows and highs become support resistance levels when market crosses them so come back can mean only correction. Trader should see market situation and take decision.

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  3. #382
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    Your trading system is very good for selling or buying of the market , but there are some certain things that are lacking about this trading system. The fact that there is a high and low of the previous day on the hour time frames do not mean an automatic sell or buy each time the market comes to retest and break through the lines. There could be what is called trend continuation if the market has the strength to continue in its previous direction.There should be some other confirmation to support your reason for making an entry attempt.

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  4. #383
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    highest open and lowest open trade will make trading more effective and more profitable for the trader that knows where to set the positions always, the trader needs to know when to enter the market and exit with this strategy to be able to make money and decrease the risk and also he should put a stop loss to protect the account from big loses.

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  5. #384
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    Its a good idea to buy at the lowest point and sell at the highest points and these type of trades are also low risky for us. Its very bad to open sell at bottom and buy at top of market price. We always need to choose a strategy which is low risky and give us easy earning on this business every day.

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  6. #385
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    Highest open and lowest open maybe a good positions for trading and so the trader can trade above or below them and so he will be able to maximize the profits and get good results if he knows how to choose the good trading positions, the trading will be effective if the trader trades in the proper time and so this keep trading more profitable for him.

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  7. #386
    Trader Goldenstein's Avatar
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    Quote Originally Posted by sameeh View Post
    Highest open and lowest open maybe a good positions for trading and so the trader can trade above or below them and so he will be able to maximize the profits and get good results if he knows how to choose the good trading positions, the trading will be effective if the trader trades in the proper time and so this keep trading more profitable for him.
    this makes a daily trading in short term version or in a nutshell, it is an intraday trading. we can follow market minor to average volatility by looking at market's current movements in one day, 24 hours. trading with this method will spend more concentration to catch every opportunities we can get from market because our target is not so big and must execute all the trades before the day is over. small time frames are necessary to do this kind of trading for short term purpose.

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  8. #387
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    One thing about the forex market is that there will always be lows and highs of the market , just like we do have some low and high time in life. The lows of the market is a sign of a weak market and the high of the market is a sign of the strength of the market . What do we do with the lows and the highs? they are opportunity for us to have a good positional entry to the market. I like to look out for these levels to open a new trade.

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  9. #388
    Trader Toyen's Avatar
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    Quote Originally Posted by sameeh View Post
    Highest open and lowest open maybe a good positions for trading and so the trader can trade above or below them and so he will be able to maximize the profits and get good results if he knows how to choose the good trading positions, the trading will be effective if the trader trades in the proper time and so this keep trading more profitable for him.
    I like the traders that are careful as they trade the market, they are such that will use this kind of trading approaches. All the parameters in the market ranging from the high, low, open close of the candlesticks are all meaningful and useful for good trading. It is always about how best the traders could analyse them and use them for a specific trading tasks.

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  10. #389
    Trader Azis Muslim's Avatar
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    Quote Originally Posted by Toyen View Post
    I like the traders that are careful as they trade the market, they are such that will use this kind of trading approaches. All the parameters in the market ranging from the high, low, open close of the candlesticks are all meaningful and useful for good trading. It is always about how best the traders could analyse them and use them for a specific trading tasks.
    Write the information about these highs and lows price in daily and weekly basis to find out what is happening with market, is it moving in trend or sideways. If the breakouts or reversal happens during daily basis, this means market is only creating average volatility just to continue yesterday's trend or breakout. However if we see some attempts to hit or break the levels during weekly basis, then we can see that market has strong possibility to create something important there, could be reversal or breakout.

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