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Highest Open / Lowest Open Trade

  • #12,841
  • May 4, 2018 12:36pm May 4, 2018 12:36pm
Quoting iamchico
Nice catch on EURGBP today (closed at around +10 pips). So far I have traded only 7 times with HoLo and got 5 winners and 2 loosers. I am trying to follow 2dollardog rules: only trade like a sniper. {image} I am thinking of switching to a real account and accept TooSlow next challenge.
I saw that trade set up just too late - could have gone in on a retrace but let it go. Well done for getting on board.
  • #12,842
  • May 4, 2018 12:40pm May 4, 2018 12:40pm
Quoting tahquo
True or false regarding HOLO vs. 1-2-3: HOLO yields more frequent opportunities to trade, albeit with less predictable results; while 1-2-3 yields less frequent opportunities to trade, but with more predictable results -- respectively.
I suppose so, in a very general way. However there are days when there are very many more multiple 1-2-3 entries (across correlated pairs for instance).

''Less frequent'' is a relative term after all.
  • #12,843
  • May 5, 2018 2:58am May 5, 2018 2:58am
Hi
Can we use this strategy in binary option?
  • #12,844
  • May 6, 2018 6:05pm May 6, 2018 6:05pm
Quoting tahquo
True or false regarding HOLO vs. 1-2-3: HOLO yields more frequent opportunities to trade, albeit with less predictable results; while 1-2-3 yields less frequent opportunities to trade, but with more predictable results -- respectively.
FALSE and FALSE.

Keep it simple.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #12,845
  • May 6, 2018 6:08pm May 6, 2018 6:08pm
Who is taking the 10 trade challenge the week of MAY 6, 2018?

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
  • #12,846
  • Edited 10:56pm May 6, 2018 9:45pm | Edited 10:56pm
Quoting lemercenaire
{quote} I saw that trade set up just too late - could have gone in on a retrace but let it go. Well done for getting on board.
You advise "sell stop" or buy stop trade at HO, LO ?

Finding it difficult to enter a trade at break of HO or LO.
Intraday only.
  • #12,847
  • Edited 4:46am May 7, 2018 1:14am | Edited 4:46am
Quoting navk
{quote} You advise "sell stop" or buy stop trade at HO, LO ? Finding it difficult to enter a trade at break of HO or LO.
In this particular case, I would have been winging it, not using a new HOLO trigger per se. Using a micro-Supply Zone or other PA information to find an entry point.

I do not use ''stop'' orders to enter.

I missed this entry because I wasn't at the screens, not because it moved too fast, or whatever.
  • #12,848
  • Edited 8:24am May 7, 2018 8:13am | Edited 8:24am
Quoting lemercenaire
{quote} In this particular case, I would have been winging it, not using a new HOLO trigger per se. Using a micro-Supply Zone or other PA information to find an entry point. I do not use ''stop'' orders to enter. I missed this entry because I wasn't at the screens, not because it moved too fast, or whatever.
Lemer, see this chart.

This is 8 am est to 9 am est candle.

First 15 min candle formed support.

Second one just broke thro LO.

Possible entry is only after second 15 min candle.

However the third candle went down, though it did not break support.

How will you deal with this situation for long entry? Thanks.

Another question : One trade for every 1 hour bar ? as long as conditions are met?
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM15.png Size: 57 KB
Intraday only.
  • #12,849
  • May 7, 2018 8:34am May 7, 2018 8:34am
Quoting navk
{quote} Lemer, see this chart. This is 8 am est to 9 am est candle. First 15 min candle formed support. Second one just broke thro LO. Possible entry is only after second 15 min candle. However the third candle went down, though it did not break support. How will you deal with this situation for long entry? Thanks. {image}
Hi navk.

I wouldn't take this trade (yet), as you are in an H1 Breakout candle...

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYH1asentryinfo7thMay18.png Size: 35 KB


If, for argument's sake, we weren't in a breakout, then if I'm using your m15 tf, then I would enter at the marked #1 and/or #2...

Attached Image (click to enlarge)
Click to Enlarge Name: InkedEURJPYM15asentryinfo7thMay18_LI.jpg Size: 276 KB


I use the m5 chart to enter most of the time and that would have given these entries...

Attached Image (click to enlarge)
Click to Enlarge Name: InkedEURJPYM5asentryinfo7thmay18_LI.jpg Size: 267 KB


I'd have had #1 and #2, with a gapper in between probably stopping me from going in on the candle in between the two.
  • #12,850
  • May 7, 2018 9:18am May 7, 2018 9:18am
Ok, m5, m15 are fine. May be I am missing something as for as hourly concerned.

Rule says long at LO whether it is m5 or m15 or H1.
Intraday only.
  • #12,851
  • May 7, 2018 10:00am May 7, 2018 10:00am
If I have to take an entry based on hourly, it needs to match with daily open and probably 4 hr candle open.

That is the best ( to me ) .
Intraday only.
  • #12,852
  • May 7, 2018 10:14am May 7, 2018 10:14am
Quoting navk
Ok, m5, m15 are fine. May be I am missing something as for as hourly concerned. Rule says long at LO whether it is m5 or m15 or H1.
Unless the candle is a breakout candle.

Rule #1

Your H1 bar had made a new low on the day.

Attached Image
  • #12,853
  • Edited 10:31am May 7, 2018 10:16am | Edited 10:31am
POST DELETED
Intraday only.
  • #12,854
  • May 8, 2018 8:34am May 8, 2018 8:34am
Had a little fun with UsdJpy this morning. https://gyazo.com/7135b7b9913442951611b88222b5aab0
  • #12,855
  • May 9, 2018 1:51am May 9, 2018 1:51am
Is there a preferred time to use this strategy?
  • #12,856
  • May 9, 2018 7:37am May 9, 2018 7:37am
Quoting Brettrogerss
Is there a preferred time to use this strategy?
nope it happens at all hours of the day
  • #12,857
  • May 9, 2018 9:10am May 9, 2018 9:10am
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 58 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #12,858
  • May 9, 2018 2:49pm May 9, 2018 2:49pm
Went in heavy and deliberately targeted only a handful - the surrounding S+D Zones on the other time frames show price pretty jammed in.

The blue dotted line is the m15 Demand Zone limit.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM5inheavyforacouleofpipsHOLO9thMay18two.png Size: 32 KB


Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH1asHOLOoverview9thMay18.png Size: 33 KB
  • #12,859
  • May 10, 2018 7:07pm May 10, 2018 7:07pm
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 55 KB


My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #12,860
  • Edited 11:25pm May 11, 2018 11:11pm | Edited 11:25pm
Quoting lemercenaire
{quote} Unless the candle is a breakout candle. Rule #1 Your H1 bar had made a new low on the day. {image}
Lemer,

I like this system, especially HO, LO.

At times, I am fooled in taking trades at HO, LO. How to avoid this?

I have added few short time MA's to get confirmation. This way I may not get exact entry at HO, LO. Little later. No problem as long as I am not against running train.


With the modified version ( only for me ), I am comfortable.

I am not posting here my modified version, due to ( No indicators ! )

This system is purely price action. And I know how to get confirmation on price action.

Anyways, thanks for your support at all times.
Intraday only.
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