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Highest Open / Lowest Open Trade

  • #12,861
  • May 12, 2018 6:24am May 12, 2018 6:24am
Quoting navk
{quote} 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....
Hi navk,

Hey, listen. You admit that that one aspect of the method makes you uncomfortable. The point is, you understand the method and its principles. It's not like you are just winging it.

The abstract painters could all paint a life figure. They then used that understanding to do their own interpretation. That's all you are doing.

You have taken a concept and made it work for you.

I would agree about not posting charts as that wouldn't be fair to TooSlow.

The way you are running this makes me think that you may be interested in another method that operates in the same area and I have PMd you on this, as I won't post about it here.

Keep on making pips!
  • #12,862
  • May 14, 2018 10:01am May 14, 2018 10:01am
What is the most important aspect of this trade?
That the top was captured?
That it is 16 pips in the green?
That it correlates to support and resistance?
That it correlates to the DXY movement?
That it will go further?
That it might go back up?
Where the stop is located?
How would it make you feel if price continued a long time?
How would it make you feel if price reversed giving only 2 pips?
How would it make you feel if the broker did not honor the stop?
How would it make you feel if you shut down the computer right now and walk away?
Ask why you feel these things.
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  • #12,863
  • May 14, 2018 10:37am May 14, 2018 10:37am
Quoting 2dollardog
What is the most important aspect of this trade? That the top was captured? That it is 16 pips in the green? That it correlates to support and resistance? That it correlates to the DXY movement? That it will go further? That it might go back up? Where the stop is located? How would it make you feel if price continued a long time? How would it make you feel if price reversed giving only 2 pips? How would it make you feel if the broker did not honor the stop? How would it make you feel if you shut down the computer right now and walk away? Ask why...
The power of trading a line in the sand is that price can do a set number of things.

1: It will cross it going up.
2: It will cross it going down.
3: It will cross and reverse over. With this one, you have to make your first decision. Do you close with, as you say +2, or do you wait too long, go negative, panic because you have either forgotten to set a stop value (either physical or in your head) and you are expecting your broker to shaft you?

Of course, you can then run this till the end of time, cross, reverse, reverse, reverse, chop, chop, chop.

None of that matters a jot to you if you have a solid and secure plan in front of you. If ''a'' happens, do ''b''. If ''b'' happens, do ''c''.

That is why when it comes down to your list, I would say that if anyone is in a trade and this stuff is in their mind, then they are overthinking it and they should close the trade and yes, walk away from the computer.

Human emotions will get ya' killed in trading.

You'll chase trades, you'll still be thinking about the last one-that-got-away when you are pulling the trigger on the next trade. You'll want to get revenge for the broker screwing you over. If only you hadn't traded over the news announcement...who knew POTUS was going to speak. What...it's a Bank Holiday today? Nobody told me!?

SO...MUCH...NOISE.

See a line.
Pull the trigger.

Treat a win the same as a loss. This is a business. Treat it as such. Don't take it personally.

Think positively. Bin negativity. Like attracts like.

Protect your capital. Spend as little time exposed to the market as you can. Compound.
  • #12,864
  • May 14, 2018 10:57am May 14, 2018 10:57am
Quoting lemercenaire
{quote} See a line. Pull the trigger.
  • #12,865
  • May 14, 2018 10:21pm May 14, 2018 10:21pm
Who is taking the 10 trade challenge the week of MAY 13, 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
  • #12,866
  • May 14, 2018 11:19pm May 14, 2018 11:19pm
Quoting TooSlow
Who is taking the 10 trade challenge the week of MAY 13, 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!
yes i want to try it sir, can i join the challenge using a demo account?
and on what pair the trade should take place sir?
  • #12,867
  • May 15, 2018 1:47am May 15, 2018 1:47am
Quoting TooSlow
Who is taking the 10 trade challenge the week of MAY 13, 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!
I have been trying GBPUSD so far have only had one trade and that went wrong, i find i am getting very few valid trades.
  • #12,868
  • May 15, 2018 2:45am May 15, 2018 2:45am
Quoting Brettrogerss
{quote} I have been trying GBPUSD so far have only had one trade and that went wrong, i find i am getting very few valid trades.
HOLO works best in ranging markets and at the moment we are seeing a lot of momentum pushing markets in trends. That's trading. Unfortunately if you are running the 10-Trade challenge, you are hamstrung by your choice of pair. GU is also not always the best of choices - though having said that, it looks like you're getting a set-up just now.

EDIT: Gone into a breakout, so hold off (though it now gives a 1-2-3 opportunity) and wait for any zone to form in the next hour onward.
  • #12,869
  • May 15, 2018 3:06am May 15, 2018 3:06am
Quoting lemercenaire
{quote} HOLO works best in ranging markets and at the moment we are seeing a lot of momentum pushing markets in trends. That's trading. Unfortunately if you are running the 10-Trade challenge, you are hamstrung by your choice of pair. GU is also not always the best of choices - though having said that, it looks like you're getting a set-up just now. EDIT: Gone into a breakout, so hold off (though it now gives a 1-2-3 opportunity) and wait for any zone to form in the next hour onward.

What is raging market ?
  • #12,870
  • May 15, 2018 3:35pm May 15, 2018 3:35pm
EA giving a possible set-up.
  • #12,871
  • May 15, 2018 3:37pm May 15, 2018 3:37pm
Quoting Tabary
{quote} What is raging market ?
Ranging, not raging...though I've known a few raging markets in my time .

''The market is said to be ranging when the price of a financial instrument is making the same highs and lows a number of times. The most common definition of a ranging market is when the price hits the same support and resistance levels three times.''
  • #12,872
  • May 15, 2018 3:50pm May 15, 2018 3:50pm
Quoting lemercenaire
EA giving a possible set-up.
Forget that - the spreads are idiotic!
  • #12,873
  • May 15, 2018 4:03pm May 15, 2018 4:03pm
Quoting lemercenaire
{quote} Forget that - the spreads are idiotic!
EU may be a better option, though out-of-session.
  • #12,874
  • May 15, 2018 4:08pm May 15, 2018 4:08pm
Quoting lemercenaire
{quote} EU may be a better option, though out-of-session.
EJ possibly tops that one as well.
  • #12,875
  • May 15, 2018 8:11pm May 15, 2018 8:11pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #12,876
  • May 16, 2018 3:58am May 16, 2018 3:58am
Quoting Brettrogerss
{quote} I have been trying GBPUSD so far have only had one trade and that went wrong, i find i am getting very few valid trades.
I usually trade EURUSD (when it's not in strong up-down trends) and EURCHF: usually works really well as it's prone to ranging. EURGBP also ranges a lot, the problem I've noticed is that usually price is more volatile and candlesticks tend to have very long wicks - most of losing trades I had have been on this pair and because price hit my stop loss before pulling back.
  • #12,877
  • May 16, 2018 7:29am May 16, 2018 7:29am
hello people, i've been reading for a few days now and am on page 100. i think this strategy is very good, i have already recorded some successes. but I have to continue studying and hope to show my charts soon, but first I have to study and read
Thank you

skipper13
  • #12,878
  • May 16, 2018 7:40am May 16, 2018 7:40am
can someone help me? what do these numbers mean?

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  • #12,879
  • May 16, 2018 7:41am May 16, 2018 7:41am
Quoting skipper13
hello people, i've been reading for a few days now and am on page 100. i think this strategy is very good, i have already recorded some successes. but I have to continue studying and hope to show my charts soon, but first I have to study and read Thank you skipper13
Welcome to HOLO, skipper. I hope you enjoy your stay!
  • #12,880
  • May 16, 2018 3:14pm May 16, 2018 3:14pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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