My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
Highest Open / Lowest Open Trade
- #12,182
- Jan 19, 2018 10:30am Jan 19, 2018 10:30am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
{image}
My overview on that...
- #12,183
- Jan 19, 2018 10:40am Jan 19, 2018 10:40am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
Missed this as a 1-2-3 but may be an opportunity later on EU, though it's a bit late in the day for me personally...
- #12,185
- Jan 19, 2018 3:35pm Jan 19, 2018 3:35pm
- Joined Oct 2015 | Status: Trader | 18,269 Posts
That EU move...
- #12,189
- Jan 20, 2018 6:31am Jan 20, 2018 6:31am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
For Lemercenaire.... It was hard waiting the whole morning and more and not taking any trade until 4PM... Patience is hard to learn in this business. I waited for it to fall to that level to enter not before, so didn't take any signal until then. {image}
Think of yourself as a sniper. Think of the patience and self-discipline required. Take pride in that. Not many ever become good enough.
Well done again
{quote} Superb Samuel. You also perfectly illustrated my point above regarding maximising the potential for success. Think of yourself as a sniper. Think of the patience and self-discipline required. Take pride in that. Not many ever become good enough. Well done again
To be honest, you could still take a losing HOLO trade yesterday and finish with some sort of profit. If you keep your SL tight (4-5pips SL).
What I love about this method is:
- Fast decisions making as entry rules are crystal clear.
- Tight SL and tight profit, but more than often the winning trade can run up to 100 or more.
- #12,191
- Edited 7:18pm Jan 20, 2018 6:44pm | Edited 7:18pm
- Joined Oct 2015 | Status: Trader | 18,269 Posts
{quote} Thanks lemercenaire
On that chart (reposted below), you will look for a 1-2-3 (a new low extreme). Once you have seen that - whether you have traded that or not - you will then be in a position to wait for a HOLO set up. The extremes are where we hunt for these. However, don't think that that means we will only find set ups here at the extremes of a range covering say a couple of days. Inside that larger range we will obviously have the potential for a smaller single-day range. Look here as an example:
Will price immediately head for this level - which is from a previous day?
Probably not. More likely we will see this:
Now, depending on where the day started on that chart, any one of those potential turning points could / would be the new High on the day and give us a 1-2-3 / HOLO opportunity. You don't have to wait for price to travel that whole distance. However by looking left, we can make ourselves aware of the room that is still available for price to travel.
Remember...1-2-3 works off the extremes - HOLO loves ranging markets. Those ranges can still be quite large, however. The markets are fractal.
- #12,192
- Jan 20, 2018 7:17pm Jan 20, 2018 7:17pm
- Joined Oct 2015 | Status: Trader | 18,269 Posts
{quote} Yes, you need to be brutal with the SL. There will always be another trade. On that chart (reposted below), you will look for a 1-2-3 (a new low extreme). Once you have seen that - whether you have traded that or not - you will then be in a position to wait for a HOLO set up. The extremes are where we hunt for these. However, don't think that that means we will only find set ups here at the extremes of a range covering say a couple of days. Inside that larger range we will obviously have the potential for a smaller single-day range. Look...
Well have a look at the chart below. This is the same pair as your post though moved on slightly I guess. It doesn't really matter that it's not the exact same point on time, the principles remain the same...
Add a simple fib to the points of the move between 'A' and 'B' and look at how price respects those levels. You should pay most attention to the 50.0 level. Do you see how you could make use of that information?
In fact, if you take the very first move, which would have been both a 1-2-3 and a HOLO set-up, you can see it again. This time price pushed a little through the 50.0, went on to hit the next level, before turning, so you would have had a decision to make there. Fair enough.
Now, on my charts here, you can see that a Demand Zone has formed there, however that would not have been there at the time this trade was running. There may - likely - have been another, smaller one though, certainly on the lower time-frames, however as these update as price moves through and around them, there is no way to show this one way or another.
However, once the move to point C has taken place, that zone will have been in place and this then gives us added weight to any decisions we may be looking at.
What I am trying to show here, is that yes, the method is rock solid but there are ways to add to your edge and that has got to be good. I am not suggesting that you have to use these, by all means find your own edge and make the method your own, simply pointing out that this is what I do. TS has his edge by using razor-sharp focus on a small number of pairs that he knows inside and out. Trade, rinse, repeat. Others here who trade HOLO successfully have their own twists to the trade management, while keeping the method pure. Horses-for-courses.
Hope this helps.
- #12,195
- Jan 22, 2018 1:04pm Jan 22, 2018 1:04pm
- Joined Mar 2012 | Status: Trader | 14,311 Posts
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #12,196
- Jan 22, 2018 1:04pm Jan 22, 2018 1:04pm
- Joined Mar 2012 | Status: Trader | 14,311 Posts
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #12,200
- Jan 23, 2018 5:41am Jan 23, 2018 5:41am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
As a carry over from my morning DAX play, this was originally a 1-2-3 set-up (which gave a triple-dip entry), before bringing multiple HOLO opportunities later...
Overview on that...
Overview on that...