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Highest Open / Lowest Open Trade

  • #12,221
  • Jan 24, 2018 7:48am Jan 24, 2018 7:48am
Watching the wrong Euro pair today - missed this one, so just for eg only...

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  • #12,222
  • Jan 24, 2018 9:19am Jan 24, 2018 9:19am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #12,223
  • Jan 24, 2018 9:24am Jan 24, 2018 9:24am
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RULE #0
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #12,224
  • Jan 24, 2018 2:29pm Jan 24, 2018 2:29pm
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PAYS OFF

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #12,225
  • Jan 24, 2018 4:28pm Jan 24, 2018 4:28pm
On average how often does a trade (which meets the rules, such as no breakout) occur per pair? From what I see looking over old charts, you gotta be patient and monitor many pairs.
  • #12,226
  • Jan 24, 2018 5:00pm Jan 24, 2018 5:00pm
Quoting andys0506
On average how often does a trade (which meets the rules, such as no breakout) occur per pair? From what I see looking over old charts, you gotta be patient and monitor many pairs.
I honestly don't know. One thing to remember, is that although we say trade HOLO on its own initially, keep an eye out for breakouts that lead to 1-2-3 set-ups, as a HOLO set-up will often follow.

Maybe Too Slow has number-crunched that detail.
  • #12,227
  • Jan 24, 2018 5:03pm Jan 24, 2018 5:03pm
Quoting TooSlow
{image} PAYS OFF {image}
That UJ was a cutie though!
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  • #12,228
  • Jan 25, 2018 1:03am Jan 25, 2018 1:03am
Fourth HOLO trade. EU. Entered two sell positions at 1.2447, got filled at 1.24467. Nabbed 6 pips and 15 pips respectively. Awesome!!!

Lines on my charts are:-
Blue lines are Highest Open/Lowest Open of the day
Yellow lines are previous day's HiLo
Pink lines are the Highest High or Lowest Low of the day
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  • #12,229
  • Jan 25, 2018 1:05am Jan 25, 2018 1:05am
Panicked a bit just now when price moved so fast! I'm trading using mobile phone, armed with a paper and a pencil. Lol!
  • #12,230
  • Jan 25, 2018 1:11am Jan 25, 2018 1:11am
Quoting lemercenaire
{quote} I honestly don't know. One thing to remember, is that although we say trade HOLO on its own initially, keep an eye out for breakouts that lead to 1-2-3 set-ups, as a HOLO set-up will often follow. Maybe Too Slow has number-crunched that detail.
Hi Lem,

Are u implying that HOLO setups often happens after the breakouts of prev day's HiLo?

Then, I'd just have to wait patiently after the breakouts?

*drools*

Cheers.

Val

P/s: will squint at ur posts about H4 charts over the weekend. After that, I'd probablly hv many questions for u.. Thanks for sharing!
  • #12,231
  • Jan 25, 2018 1:58am Jan 25, 2018 1:58am
Quoting valerie2
{quote} Hi Lem, Are u implying that HOLO setups often happens after the breakouts of prev day's HiLo? Then, I'd just have to wait patiently after the breakouts? *drools* Cheers. Val P/s: will squint at ur posts about H4 charts over the weekend. After that, I'd probablly hv many questions for u.. Thanks for sharing!
Morning, Val.

Yes, this is often the case. As you'll know, a market doesn't climb or fall in a straight line, it will travel up, then pullback, then return to its original direction, for instance. We are simply waiting on one of these pullbacks and that is what we will often get after a breakout of the previous day.

It does have to be treated with a degree of caution however, as a market which is trading higher (in this instance) than yesterday's high could be a sign of a runaway train.
  • #12,232
  • Jan 25, 2018 2:00am Jan 25, 2018 2:00am
Quoting valerie2
Panicked a bit just now when price moved so fast! I'm trading using mobile phone, armed with a paper and a pencil. Lol!
I also cannot believe anyone can trade on their mobile, lol. Had a look at it once ...one look was enough! (I do appreciate that you are doing so due to circumstances, so fair enough - but well done!).
  • #12,233
  • Jan 25, 2018 2:24am Jan 25, 2018 2:24am
Quoting lemercenaire
{quote} Morning, Val. Yes, this is often the case. As you'll know, a market doesn't climb or fall in a straight line, it will travel up, then pullback, then return to its original direction, for instance. We are simply waiting on one of these pullbacks and that is what we will often get after a breakout of the previous day. It does have to be treated with a degree of caution however, as a market which is trading higher (in this instance) than yesterday's high could be a sign of a runaway train.
Good Morning Lem!

When u mentioned "treated with a degree of caution..", I can't help but wonder, like how does one do that? Tighten stoploss? Look for signs or hints that the train is about to take off? Can u enlighten us further in this regard? I believe, if I were trading that, and get caught, geezzz I wouldn't even knw wat hit me until moments later..by that time, I think it will be too late lol
  • #12,234
  • Jan 25, 2018 2:30am Jan 25, 2018 2:30am
Quoting lemercenaire
{quote} I also cannot believe anyone can trade on their mobile, lol. Had a look at it once ...one...
Hehehe..the reason I luv HOLO method is cuz I can trade it on my mobile as it doesn't need any of those fancy indicators which we can't load onto mobile phones. Let's see if I can buy a new laptop using monies I earn from HOLO trades... Lalalalala *grins*
  • #12,235
  • Jan 25, 2018 2:40am Jan 25, 2018 2:40am
Quoting valerie2
{quote} Good Morning Lem! When u mentioned "treated with a degree of caution..", I can't help but wonder, like how does one do that? Tighten stoploss? Look for signs or hints that the train is about to take off? Can u enlighten us further in this regard? I believe, if I were trading that, and get caught, geezzz I wouldn't even knw wat hit me until moments later..by that time, I think it will be too late lol
Yes, you hit it on the nail - when you suddenly realise that you are in the way of a train, the ability to not freeze needs to be mastered. One way to do this is to quickly draw a line to give a quick visual aid as to where your stop will be before you have even placed the trade (I tend to enter trades then set stops later, so this can mean being caught out if things move fast). Don't tighten stops, it's still a trade as any other, however don't be tempted to hold on to a negative trade ''just-in-case'' it turns. You can always re-enter.

Just be prepared to cut a trade short, as it is perhaps less likely to be a runner. Look out for price-action clues. Check higher time-frame for same.

Once you get hit by one train, you tend to remember the signs .
  • #12,236
  • Jan 25, 2018 2:43am Jan 25, 2018 2:43am
Quoting valerie2
{quote} Hehehe..the reason I luv HOLO method is cuz I can trade it on my mobile as it doesn't need any of those fancy indicators which we can't load onto mobile phones. Let's see if I can buy a new laptop using monies I earn from HOLO trades... Lalalalala *grins*
Well, as has been said - all those +1 and +5 trades add up, especially using the power of compounding.
  • #12,237
  • Jan 25, 2018 3:24am Jan 25, 2018 3:24am
UJ showing potential.
  • #12,238
  • Jan 25, 2018 3:26am Jan 25, 2018 3:26am
Quoting lemercenaire
{quote} Yes, you hit it on the nail - when you suddenly realise that you are in the way of a train, the ability to not freeze needs to be mastered. One way to do this is to quickly draw a line to give a quick visual aid as to where your stop will be before you have even placed the trade (I tend to enter trades then set stops later, so this can mean being caught out if things move fast). Don't tighten stops, it's still a trade as any other, however don't be tempted to hold on to a negative trade ''just-in-case'' it turns. You can always re-enter....
Ah I see.. I'm not really good at MTF analysis.. I always just trade on solely one chart, cuz I can't match the connections.. I knw I am kinda weird that way.. That's why when I saw ur H4 charts my mind just go blank "ack that's deep stuffs.. When will I ever get that kinda skill.. @_@"

When u said don't tighten stops, is it the same as don't cut off the trades when it reversed say ten pips right away after u get filled in eventhough ur initial stoploss is say 13 or 15 pips away? Is tat d tell-tale sign of the big word "Momentum"? Like, train ab to leave the platform? I try not to get freaked out by price but fails lol..i hv a weak heart. I guess I am one of those silly deer..I don't knw what to do really especially in managing trades..

Before I learn HOLO setups, I trade breakouts and I always hold my trades, thinking to either let them hit TP or SL. But I alw find myself mourning the loss when price stalled 2 pips shy of reaching my TP level, then reversed all the way and hits my stoploss. Now I fell in luv with Trade Management so will apply the same rules to all my trades. Better be collecting em BE+1 than suffering major losses.. ;P
  • #12,239
  • Jan 25, 2018 3:30am Jan 25, 2018 3:30am
Quoting lemercenaire
UJ showing potential.
Potential to long?
  • #12,240
  • Jan 25, 2018 3:35am Jan 25, 2018 3:35am
Quoting valerie2
{quote} Potential to long?
Yes...
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There is a small Demand Zone just below price at the moment (on the m1) that will need to be pushed through but if it does so, I think we have a chance of something for us.
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