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Highest Open / Lowest Open Trade

  • #12,681
  • Apr 11, 2018 5:13am Apr 11, 2018 5:13am
Quoting TooSlow
{quote} Sometimes a HOLO is a 1-2-3 and sometimes a 1-2-3 is a HOLO. In both cases, the reversal is traded. The idea is to recognize a reversal setup and endeavor to exploit it. Carry on, Mate, Cheers!
hi. Interesting. Subscribed.
Intraday only.
  • #12,682
  • Apr 11, 2018 6:55am Apr 11, 2018 6:55am
4# 10/1 +1pips
4# 10/2 +5pips
4# 10/3 +1pips
4# 10/4 -6.4pips
4# 10/5 -7.1pips
4# 10/6 -8.5pips
today：
4# 10/7 -5pips
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My bad luck...?
  • #12,683
  • Apr 11, 2018 7:28am Apr 11, 2018 7:28am
Quoting tahquo
Anyone know how to force MT4 to draw candles at buy price, rather than sell price? I know how to show the buy price-line with the sell price-line, but candles are still drawn to sell price. Would be helpful for moving stop-loss on shorted positions.
You could post the question on the platform tech board.
  • #12,684
  • Apr 11, 2018 7:32am Apr 11, 2018 7:32am
Quoting tahquo
{quote} Lol. One of the things I like most about HOLO -- I have little time to trade, and on a day-to-day basis (my schedule) is totally unpredictable. All I can handle studying page 1 of this thread, drawing lines on chart for start of day, highest high (for stop-loss), lowest low (for stop-loss), highest open for short orders, lowest open for buy orders, first stop move into money, second stop move into more money, checking upcoming news and higher period trends for prophetic anticipation of possible price action -- all while washing dishes, feeding...
Just do what I do and edit out everything but the very base lines and colours. I began with two lines on my chart - the new highest high and new highest low.

You could use the variant of the indi that colours the zones if preferable.
  • #12,685
  • Apr 11, 2018 7:35am Apr 11, 2018 7:35am
This started out as a 1-2-3 for me this morning (which in turn came from my morning DAX trade) and has turned out pretty well...

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5 min entry gives chances to add-in as trade unfolded...

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Overview...

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  • #12,686
  • Apr 11, 2018 8:01am Apr 11, 2018 8:01am
Possible exotic (watch your spreads if you're tempted)...
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  • #12,687
  • Apr 11, 2018 8:03am Apr 11, 2018 8:03am
Quoting lemercenaire
Possible exotic (watch your spreads if you're tempted)... {image}
A less exotic alternative...

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  • #12,688
  • Apr 11, 2018 8:21am Apr 11, 2018 8:21am
Quoting lemercenaire
{quote} A less exotic alternative... {image}
i am in with a small portion, thx lem!
trading is like dancing, don't think and just listen to the music!
  • #12,689
  • Apr 11, 2018 8:32am Apr 11, 2018 8:32am
Quoting birdland
{quote} i am in with a small portion, thx lem!
Keep an eye on the news while you're in. If it's riding for a while, especially the OIL Inventories in an hour.
  • #12,690
  • Apr 11, 2018 8:47am Apr 11, 2018 8:47am
Hi Too Slow, I found your thread last night and have read the first 25 pages and last few, I have downloaded the tools and tried it out in demo, I really like the system, can I join the 10 trade challenge?, I will be using EURUSD, looking forward to getting started and receiving feedback.
  • #12,691
  • Apr 11, 2018 11:42am Apr 11, 2018 11:42am
Quoting lemercenaire
{quote} Keep an eye on the news while you're in. If it's riding for a while, especially the OIL Inventories in an hour.
Hi,

Must be making lots of money in this system.

Good.

Can you explain what are those additional lines?

I understand previous day low/high lines and current day high/low lines. Also I understand H1 highest open line and lowest open line. Rest of lines?
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Intraday only.
  • #12,692
  • Apr 11, 2018 11:58am Apr 11, 2018 11:58am
Trade 1: +1 pip BE
Got to +9.4 pips but not enough to move stop.
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  • #12,693
  • Apr 11, 2018 3:08pm Apr 11, 2018 3:08pm
Quoting navk
{quote} Hi, Must be making lots of money in this system. Good. Can you explain what are those additional lines? I understand previous day low/high lines and current day high/low lines. Also I understand H1 highest open line and lowest open line. Rest of lines? {image}
Hi Navk.

The extra lines on that template will include yesterday's levels as well. The short lines at 5 pip gaps, are the distance from the entry level, so in effect, your lines-in-the-sand for taking profit should you wish.
  • #12,694
  • Apr 11, 2018 3:13pm Apr 11, 2018 3:13pm
Quoting jaxxies
Trade 1: +1 pip BE Got to +9.4 pips but not enough to move stop. {image}
Nice first play. Things to bear in mind. You're trading EU when Europe is closed. Unless there's going to be major news on the Greenback, then it's unlikely that you're going to get any huge moves. Some may say that getting to within 0.6 of a pip to your +10 line is ''close enough'' and bend the rules a little.

Having said that, I realise that you are taking the 10-Trade Challenge and so ''close enough'' is not what it says in the rules .

In this case, you still came out ahead. Well done.
  • #12,695
  • Apr 11, 2018 3:14pm Apr 11, 2018 3:14pm
Oh and by the way - welcome to the thread, all you newcomers. Hopefully you'll find a home here.
  • #12,696
  • Apr 11, 2018 4:57pm Apr 11, 2018 4:57pm
As always at this time, spreads can be an issue but not a bad set-up potentially...

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  • #12,697
  • Apr 11, 2018 5:08pm Apr 11, 2018 5:08pm
Quoting lemercenaire
{quote} Hi Navk. The extra lines on that template will include yesterday's levels as well. The short lines at 5 pip gaps, are the distance from the entry level, so in effect, your lines-in-the-sand for taking profit should you wish.
ooh, k. May be the pivots, daily levels also can be used to book profits. ?
Intraday only.
  • #12,698
  • Apr 11, 2018 5:42pm Apr 11, 2018 5:42pm
Quoting navk
{quote} ooh, k. May be the pivots, daily levels also can be used to book profits. ?
How you run your trades once opened will become a personal thing that suits your style of trading. This is one of the main points raised through the life of the thread.
  • #12,699
  • Apr 11, 2018 6:14pm Apr 11, 2018 6:14pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #12,700
  • Apr 11, 2018 6:15pm Apr 11, 2018 6:15pm
Quoting navk
{quote} Hi, Must be making lots of money in this system. Good. Can you explain what are those additional lines? I understand previous day low/high lines and current day high/low lines. Also I understand H1 highest open line and lowest open line. Rest of lines? {image}
Just target lines. Default is every 5 pips. The indicator inputs can be changed.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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