My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
Highest Open / Lowest Open Trade
- #12,524
- Mar 14, 2018 9:45am Mar 14, 2018 9:45am
{quote} So, what - if any - conclusions can you draw from these trades? Are there any patterns to be seen? Winners / losers at a certain time? Is there any shape to the market that seems to bring more success than another? It's great that you have done this and that you have come out ahead but now you have to build on that. Your success will encourage other newcomers! Onward and upward!
I think that trading 1 pair in strict accordance with the rules may give me some advantages. However, there are still few consistent experiences and samples, so there is still insufficient confidence. And because of the small number of samples, I dare not rush to judge which patterns is more effective or which should be avoided because I used to constantly modify system and rules to cause continuous failure before, so now I give my task is to practice Patience, consistency, not changing rules, etc. The goal is to accumulate consistent experience.
（I'm sorry my English comes from google, I'm always worried that I can't understand what you mean and say what I mean.
）
- #12,525
- Mar 14, 2018 9:53am Mar 14, 2018 9:53am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
{quote} Thank you for your encouragement lem, which is very important to me. I will continue to do my best!
I will borrow one of Too Slow's favourite quotes for you, which you will find throughout the thread:
Also, don't worry about your English. It is just fine!
- #12,526
- Mar 14, 2018 10:00am Mar 14, 2018 10:00am
{quote} That's perfect. You are doing just the right thing. Practice, practice, practice. Not many different things and always changing - but one thing. Over and over. I will borrow one of Too Slow's favourite quotes for you, which you will find throughout the thread: {image} Also, don't worry about your English. It is just fine!
- #12,527
- Mar 14, 2018 10:35am Mar 14, 2018 10:35am
10/1 +15（+1.42%）
10/2 +1（+0.12%）
10/3 -7.6（-1%）
10/4 -14（-1%）
10/5 -5.3（-1%）
10/6 +28（+2.83%）
10/7 -17.6（-1%）
10/8 +15（+1.55%）
10/9 +10（+1.41%）
10/10 -10.2（-1%）
2018-3-1～2018-3-14
total：+14.3pips，+2.33%
Now, the next 10 trading challenges
10/2 +1（+0.12%）
10/3 -7.6（-1%）
10/4 -14（-1%）
10/5 -5.3（-1%）
10/6 +28（+2.83%）
10/7 -17.6（-1%）
10/8 +15（+1.55%）
10/9 +10（+1.41%）
10/10 -10.2（-1%）
2018-3-1～2018-3-14
total：+14.3pips，+2.33%
Now, the next 10 trading challenges
- #12,529
- Mar 14, 2018 2:11pm Mar 14, 2018 2:11pm
- Joined Mar 2012 | Status: Trader | 14,316 Posts
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #12,534
- Mar 15, 2018 4:46am Mar 15, 2018 4:46am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
{quote} So, does this mean it is safer for beginners to stay out during red news like the ones u mentioned Lem? I stayed out during the red news, and also when price is nearing prev day's HiLo cuz they could be breakouts and I dun wanna get caught , but tat means almost no trade setups at all.. It is a long wait..and when i finally decided to take a break, wham..a trade setup and I missed it.. =_= *almost pulled my hair out* This is wat it means to be patient eh? *pouts*
News is tricky, for sure. However, there are ways to handle it if one is careful and sensible.
Specifics first: Not all red news is created equal. Some news is more equal than others
What I would say is that you should never be anywhere near CAD when there is Oil News and that goes almost as much for the USD (Oil is priced in Dollars). It then follows that the USDCAD pair shouldn't be touched with a barge pole. JPY is secondary but will still move.
The other is NFP, which everyone should be well aware of.
Now, outside of those, with HOLO and 1-2-3, it is possible to trade around news. The caveats being:
(1) That if you are already in a trade, you should tighten up stops and be prepared to close manually in case of price jumping your stop.
(2) If you are not in a trade but see a potential set up, do not look to get in during the news movement. Slippage will kill ya' if nothing else. Be patient, it is entirely possible that once any mad moves have been and gone, that you will have a chance to re-enter that set-up if it still exists.
As for staying out when price is near the previous day's High or Low. Well, want to know a secret? That barely registers with me. Sure, I'll kinda' be aware of it - but only in the sense that I am always aware of my surroundings. It's just part of the big picture.
There are other ways to judge whether you are in the path of a freight-train of a breakout potential and you have to remember, both HOLO and 1-2-3 make their bread at the extremes. We thrive off of reversals. Where do you find reversals? At the extremes.
In general, retail FX traders make their money at the extremes.
Be safe out there, folks
- #12,535
- Mar 15, 2018 6:14am Mar 15, 2018 6:14am
{quote} Hi Val. News is tricky, for sure. However, there are ways to handle it if one is careful and sensible. Specifics first: Not all red news is created equal. Some news is more equal than others
- #12,539
- Mar 15, 2018 8:32am Mar 15, 2018 8:32am
{quote} Sorry mingqiu, in this case, I am not sure what you mean.
Lem, I mean, when I stop loss, how do I know that this trading is a normal loss (this trading advantage has not been played, so continue to wait for the next trading)?
Or that this trading is can avoid losses by identifying market patterns (For example the more experienced traders will avoid this loss)？
What is the best way to distinguish between these two losses?
（If I still can't express myself well, I'm sorry
）
- #12,540
- Mar 15, 2018 9:01am Mar 15, 2018 9:01am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
{quote} Sorry for my bad English.
I'd say that if you have followed all the rules and made your choices and decisions correctly and things still go against you, then you know it was purely the traders' life. Sometimes it just goes against you. You shrug it off and go onto the next.
As for understanding market conditions, then I'm afraid that that can only come from experience and many hours in front of the charts. Knowledge is power!
However, one of the main things that we have in our favour with HOLO (and 1-2-3), is that there are very precise rules and our set ups come as a result of certain market conditions that other traders would be trying to avoid - that is reversals, so we are working with the market and its rhythms, not against it.
It is all about keeping it simple, so we aren't caught by adverse conditions very often.
If you then keep one eye on the most dangerous red news, then you are going to do well.
I hope that helps
