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Highest Open / Lowest Open Trade

  • #11,901
  • Nov 3, 2017 3:26am Nov 3, 2017 3:26am
Quoting Biggboss
Hello everyone very good job TooSlow i like your work here Q: is this a correct short? {image}
Hi there. Welcome to the thread, good to have you here.

What I will say is that instead of us answering your question - set up your check-list for HOLO and let's run through it:

1: Do you have a new Higher H1 Open?
2: Has an m15 candle (or m5 if you're using them) opened in the area between that level and the extreme?
3: If so, did you enter as price crossed back over that level?
(3a: Are you in an H1 Breakout? If so...careful!)

Well there you go - you've answered your own question. Doesn't it feel so much better to have done your own legwork rather than have it spoon-fed. That's the best way to do it, honestly.

Post your answer up here so other newcomers can learn from your experience.
  • #11,902
  • Nov 3, 2017 7:47am Nov 3, 2017 7:47am
Another generous day in EUR/USD so powerful

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  • #11,903
  • Nov 3, 2017 9:54am Nov 3, 2017 9:54am
Quoting Mhons
Another generous day in EUR/USD so powerful {image}
Still harvesting pips

Wish you great week felas

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  • #11,904
  • Nov 3, 2017 10:17am Nov 3, 2017 10:17am
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NFP
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #11,905
  • Nov 3, 2017 5:28pm Nov 3, 2017 5:28pm
Quoting lemercenaire
{quote} Hi there. Welcome to the thread, good to have you here. What I will say is that instead of us answering your question - set up your check-list for HOLO and let's run through it: 1: Do you have a new Higher H1 Open? 2: Has an m15 candle (or m5 if you're using them) opened in the area between that level and the extreme? 3: If so, did you enter as price crossed back over that level? (3a: Are you in an H1 Breakout? If so...careful!) Well there you go - you've answered your own question. Doesn't it feel so much better to have done your own legwork...

1.yes
2.yes
3.yes
3a no

thank you for the indirect answer(it is helping a lot)
I did my chek just wanted a confirmation for the first time trading this sytem

Thank you for the reply Lemercenaire
  • #11,906
  • Nov 3, 2017 6:32pm Nov 3, 2017 6:32pm
Quoting Biggboss
{quote} 1.yes 2.yes 3.yes 3a no thank you for the indirect answer(it is helping a lot) I did my chek just wanted a confirmation for the first time trading this sytem Thank you for the reply Lemercenaire
There are many ways to learn something. To process information. There is a reason that highly skilled occupations or activities have their students perform hands-on in training - the lesson sticks.

Trading has its own kind of muscle memory, it's not physical but it requires that the trader becomes proficient in repeating a set of "rules" and checks in a precise way every single time and that he or she does so without double-thinking himself. He who hesitates is lost.

You can read and read and read again but to be a successful trader, at some point you are going to have to sit there and work your own process. The only way that is ever going to happen is if you have the utmost confidence in yourself, not having to ask someone else if you're "doing it right".

The first time you pull that trigger on a real account and bag those pips, the sense of satisfaction will be soooo much sweeter knowing that it was all down to your own hard work.

All of a sudden, you'll realise that instead of being scared stiff you're going to lose all your money, you are actually enjoying yourself!
  • #11,907
  • Nov 4, 2017 4:40am Nov 4, 2017 4:40am
Quoting lemercenaire
{quote} There are many ways to learn something. To process information. There is a reason that highly skilled occupations or activities have their students perform hands-on in training - the lesson sticks. Trading has its own kind of muscle memory, it's not physical but it requires that the trader becomes proficient in repeating a set of "rules" and checks in a precise way every single time and that he or she does so without double-thinking himself. He who hesitates is lost. You can read and read and read again but to be a successful...
Excellent summary
every Saint has a past. Every Sinner has a Future
  • #11,908
  • Nov 4, 2017 5:39am Nov 4, 2017 5:39am
Yes Neil - lem is always the voice of reason.
  • #11,909
  • Nov 4, 2017 7:39am Nov 4, 2017 7:39am
Thanks, guys.
  • #11,910
  • Nov 4, 2017 5:24pm Nov 4, 2017 5:24pm
still leaning this great strategy and have one question

Usually when price is trading above yday high or low, and i see a setup, I don't trade, however in a case of a short trade, if price did go through yesterday high and formed a wick, then proceeded down below yesterday high, and i see a short setup, would you advise to short ? Or trade another pair which has not broken yesterday high/low

thanks guys

appreciate the help.
  • #11,911
  • Nov 4, 2017 6:19pm Nov 4, 2017 6:19pm
Quoting shay14
still leaning this great strategy and have one question Usually when price is trading above yday high or low, and i see a setup, I don't trade, however in a case of a short trade, if price did go through yesterday high and formed a wick, then proceeded down below yesterday high, and i see a short setup, would you advise to short ? Or trade another pair which has not broken yesterday high/low thanks guys appreciate the help.
In that situation, you'd be looking at a 1-2-3 set-up.
  • #11,912
  • Nov 4, 2017 8:37pm Nov 4, 2017 8:37pm
Who is taking the 10 trade challenge the week of November 5, 2017?

During the challenge you are only to trade the same pair.
Beginners do not get to trade multiple pairs until they have mastered trading one single pair.
GREEN PIPS TO ALL.
Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #11,913
  • Edited 9:43pm Nov 5, 2017 8:36pm | Edited 9:43pm
my first HOLO...(welcome any feedback)
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  • #11,914
  • Nov 6, 2017 2:48am Nov 6, 2017 2:48am
Quoting sdatta
my first HOLO...(welcome any feedback) {image}
Hi sdatta.

I personally wouldn't have taken that entry (I would actually have taken a 1-2-3 entry off that move but that's another story). Looking at your chart, you have entered exactly on the new H1 Open. Yes? No?

You can see that after that, you have no new m5 candle opening in the Area-of-Interest (the burgundy zone), hence, no entry.

If I'm reading this wrong, sorry - it is Monday morning and I'm still halfway asleep, lol.
  • #11,915
  • Nov 6, 2017 3:59am Nov 6, 2017 3:59am
Thanks for your feedback.. Need to study more..
  • #11,916
  • Nov 6, 2017 7:29am Nov 6, 2017 7:29am
10 trade challenge

1st trade, traded below yesterday low, so moved BE+1 fast, TP on Friday´s low

+8 pips

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  • #11,917
  • Edited 9:42am Nov 6, 2017 9:17am | Edited 9:42am
Usd/cad. ~ - 10 pips
So I opened the trade then I had to go away from pc.
I did get about -10 pips.
But the price reached +5 pips, the spread is 2-3 pips, so its almost nothing, what to do in this situation ?
(and it is the normal spread I mean always ) ? Because I think my broker spread on demo account is huge I see others 0.5-1.0
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  • #11,918
  • Nov 6, 2017 10:01am Nov 6, 2017 10:01am
Quoting sdatta
my first HOLO...(welcome any feedback) {image}
Follow the rules first, then learn to break the rules.

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #11,919
  • Nov 6, 2017 10:03am Nov 6, 2017 10:03am
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There are so many opportunities provided by following the rules. No need to take other risks.

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #11,920
  • Nov 6, 2017 10:08am Nov 6, 2017 10:08am
Quoting netas369
Usd/cad. ~ - 10 pips So I opened the trade then I had to go away from pc. I did get about -10 pips. But the price reached +5 pips, the spread is 2-3 pips, so its almost nothing, what to do in this situation ? (and it is the normal spread I mean always ) ? Because I think my broker spread on demo account is huge I see others 0.5-1.0 {image}
+5 x 10 = pretty good
A spread of 2-3 pips on UC, however, is just mental.
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