do you consider the day's open in your trading decision - page 2

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Yes and no in fact.

It depends on strategy, timeframe, forex pair and broker time.

 
Always consider the market strategies before get into making decision in trade .
 

i wonder if you guys notice, the price always move away from the open price in either up or down.

so how can we use this piece of information to trade? 

 
doshur:

i wonder if you guys notice, the price always move away from the open price in either up or down.

so how can we use this piece of information to trade? 

Very easy,  go long or short from the Open price,  set a SL 10x greater than the TP and you will have a strategy that has 90% winners . . .  what more do you need ?
 
RaptorUK: Very easy,  go long or short from the Open price,  set a SL 10x greater than the TP and you will have a strategy that has 90% winners . . .  what more do you need ?

Put another way, place a Hedge (Buy && Sell). Set a SL 10x-less-then the TP.

For mt5-Traders, wait til the price moves 10% the TP in one direction ... Then Enter.

 
RaptorUK:
Very easy,  go long or short from the Open price,  set a SL 10x greater than the TP and you will have a strategy that has 90% winners . . .  what more do you need ?
In that case 1 loss is equal to 9 wins. Frustrating strategy.
 
Vorobyov:
In that case 1 loss is equal to 9 wins. Frustrating strategy.
It is of course a losing strategy . . .   but still with a win rate of 90%.
 
RaptorUK: It is of course a losing strategy . . .   but still with a win rate of 90%.
Yeah and 9 Losses eating away at your 1 Win isn't any less Frustrating.
 
RaptorUK:
It is of course a losing strategy . . .   but still with a win rate of 90%.
Winning rate is not particularly important. It depends on how much money you lose on losing trade and how much money you win on winning trade.
 
Vorobyov: Winning rate is not particularly important. It depends on how much money you lose on losing trade and how much money you win on winning trade.

Win-Rate & Average-Win are equally as important.

Saying that price moves from daily-open is like saying that price moves from any position.

When & Where is the important information which most traders need.

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