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Highest Open / Lowest Open Trade

  • #13,301
  • Aug 14, 2018 10:11am Aug 14, 2018 10:11am
Quoting stevecartwright
I looked at this thread sometime ago and must have been distracted onto something else. Just one question to clarify entry. It may be that an hourly Hi/Lo is printed and then no open above/below on an hourly basis and unless you dive down to lower tf's you don't get into a trade. What tf's do most most of those trading this system use. I know EA's are banned but I am not someone who has enough life left to sit in front of a terminal waiting for something to happen so my system is automated.
There is a manual in the attachments.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,302
  • Aug 14, 2018 10:13am Aug 14, 2018 10:13am
Quoting stevecartwright
I looked at this thread sometime ago and must have been distracted onto something else. Just one question to clarify entry. It may be that an hourly Hi/Lo is printed and then no open above/below on an hourly basis and unless you dive down to lower tf's you don't get into a trade. What tf's do most most of those trading this system use. I know EA's are banned but I am not someone who has enough life left to sit in front of a terminal waiting for something to happen so my system is automated.
Set ups come on the H1. Entry is on m15 / m5 / m1 (personal choice).

The method can be modified to the high time-frames if you do the legwork.

TS won't spoon-feed and will tell you to read post #1.

If you can't spend time on this, then HOLO won't be for you (unless as I say, you go up to Daily/Weekly/Monthly) and don't waste your time trying to automate it.

All the best.
  • #13,303
  • Edited 10:40am Aug 14, 2018 10:26am | Edited 10:40am
Thanks
  • #13,304
  • Aug 14, 2018 10:34am Aug 14, 2018 10:34am
Quoting stevecartwright
As expected.
Hi Steve
Don't want to stick my nose in, but Lem is right.
Have a look at the pdf from Michael G
Regards
Kev
  • #13,305
  • Aug 14, 2018 10:36am Aug 14, 2018 10:36am
Quoting kevin1959
{quote} Hi Steve Don't want to stick my nose in, but Lem is right. Have a look at the pdf from Michael G Regards Kev
Sorry it's on page 1
  • #13,306
  • Aug 14, 2018 10:59am Aug 14, 2018 10:59am
Thank you I already have it . As it's "personal choice" I will use m15. Just wondered what others used and any difference in levels of success. Won't change what I am doing.
  • #13,307
  • Aug 14, 2018 10:59am Aug 14, 2018 10:59am
Quoting stevecartwright
Thanks
Hi Steve.
Must have got mixed up
Thought you said as expected
regards
Kev
  • #13,308
  • Aug 14, 2018 11:02am Aug 14, 2018 11:02am
Quoting lemercenaire
{quote} Set ups come on the H1. Entry is on m15 / m5 / m1 (personal choice). The method can be modified to the high time-frames if you do the legwork. TS won't spoon-feed and will tell you to read post #1. If you can't spend time on this, then HOLO won't be for you (unless as I say, you go up to Daily/Weekly/Monthly) and don't waste your time trying to automate it. All the best.
Thank you. Already automated and working as per the rules.
  • #13,309
  • Aug 14, 2018 11:06am Aug 14, 2018 11:06am
Quoting stevecartwright
{quote} Thank you. Already automated and working as per the rules.
Good luck with the automation.
But please listen to what Lem is saying
regards
Kev
  • #13,310
  • Aug 14, 2018 11:10am Aug 14, 2018 11:10am
Quoting kevin1959
{quote} Good luck with the automation. But please listen to what Lem is saying regards Kev
noprob. been doing this a long time.
  • #13,311
  • Aug 14, 2018 11:12am Aug 14, 2018 11:12am
Quoting stevecartwright
{quote} noprob. been doing this a long time.
ok wish you all the best
  • #13,312
  • Aug 14, 2018 11:19am Aug 14, 2018 11:19am
Does that look about right? I am using a m15 close at the moment as something different to the rules. Just me being me.
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  • #13,313
  • Aug 14, 2018 12:12pm Aug 14, 2018 12:12pm
Quoting lemercenaire
{quote} When the numbers were last run on this, last year some time, 91% profit came from 20% of the pairs, with a heavy bias towards UJ, EJ, and UC. That may have changed since then but my gut tells me it still holds pretty true. I would also add my Weird Bunch of DAX, FTSE, F40, though they are probably in turn weighted toward 1-2-3.
Hi Lemercenaire ( and others ),
I kept a meticulous record of the currencies' daily range for 2 years and GBPJPY came out tops, followed by EURJPY, GBPUSD and USDJPY in that order.
In those days I did not trade any of the indices, but for the last year DAX is the leader of the pack.
We still need to have a chat about why the 1-2-3 is favoured for the indices please.
Continued success to you all.
Hercs
  • #13,314
  • Aug 14, 2018 12:21pm Aug 14, 2018 12:21pm
Quoting Hercs
{quote} Hi Lemercenaire ( and others ), I kept a meticulous record of the currencies' daily range for 2 years and GBPJPY came out tops, followed by EURJPY, GBPUSD and USDJPY in that order. In those days I did not trade any of the indices, but for the last year DAX is the leader of the pack. We still need to have a chat about why the 1-2-3 is favoured for the indices please. Continued success to you all.
Thanks for that, Hercs.

GJ (and EJ) makes sense alongside UJ, as it is the JPY that is the active ingredient and that is shared by all three. Most people would probably trade UJ due to familiarity (or in TS' case, the US market is more active at his US time-slot than the UK one).

The indices favour 1-2-3 because of the tendency to make more distinctive and powerful moves in one go, so will trigger then drop away, rather than set up a HOLO Area-Of-Interest. The area will be there but price won't ever return to it.
  • #13,315
  • Aug 14, 2018 1:19pm Aug 14, 2018 1:19pm
Quoting lemercenaire
{quote} Thanks for that, Hercs. GJ (and EJ) makes sense alongside UJ, as it is the JPY that is the active ingredient and that is shared by all three. Most people would probably trade UJ due to familiarity (or in TS' case, the US market is more active at his US time-slot than the UK one). The indices favour 1-2-3 because of the tendency to make more distinctive and powerful moves in one go, so will trigger then drop away, rather than set up a HOLO Area-Of-Interest. The area will be there but price won't ever return to it.
Do I need to pick a different pair lol
regards
Kev
  • #13,316
  • Aug 14, 2018 4:42pm Aug 14, 2018 4:42pm
Quoting lemercenaire
{quote} Set ups come on the H1. Entry is on m15 / m5 / m1 (personal choice). The method can be modified to the high time-frames if you do the legwork. TS won't spoon-feed and will tell you to read post #1. If you can't spend time on this, then HOLO won't be for you (unless as I say, you go up to Daily/Weekly/Monthly) and don't waste your time trying to automate it. All the best.
Lem explained it. I don't know if you've been to university or even high school, but to learn to trade, some rules to follow are:
-Take time to test the method and to deep down believe what the thread owner is teaching you.
-Take the time to go through the whole thread, it takes time but this is how things work.
-When you pick a method, immediately, print papers or use excel sheets or even just paper to log all the trades you are taking. This helps with discipline. For example, if you decided to take 3 trades a day, have 3 empty entries in your notebook to fill, do it and then stop trading (or at least stop trading that method until the next day).
-Pick a mentor or two in ff or somewhere else and follow them. No need to pm them every day with questions, but try to follow them and then participate in thread, share your trades as much as needed.

If you do this, you will unconsciously print a method into your head and it will become a second nature, just like driving a car.

There is more to this, but take this advice from someone that used this method successfully by accepting to "go back to school" and to apply rules without too much overthinking.
  • #13,317
  • Aug 14, 2018 6:17pm Aug 14, 2018 6:17pm
Quoting lemercenaire
{quote} Thanks for that, Hercs. GJ (and EJ) makes sense alongside UJ, as it is the JPY that is the active ingredient and that is shared by all three. Most people would probably trade UJ due to familiarity (or in TS' case, the US market is more active at his US time-slot than the UK one). The indices favour 1-2-3 because of the tendency to make more distinctive and powerful moves in one go, so will trigger then drop away, rather than set up a HOLO Area-Of-Interest. The area will be there but price won't ever return to it.
I have been observing the YM/US30/DOW for a bit now. I find that there are HOLO entries often in the evening and early morning (EST), but often have to bend the rules because it tends to "wick" (no candle close/open) in and out of the AOI. I see a fair amount of "Hal special" 1-2-3 entries as well. When my busy season slows down, I hope to be able to trade more consistently and be able to post some trades. I have yet to find a currency pair that I can feel like the US30.

I follow Mr. Pip's Ratios and Harmonics thread as well. Even though the methods seem almost at odds with each other, I have found on multiple occasions that a HOLO or 1-2-3 entry are the same as one of Mr P's entries. I always here Lem in my head "one method leads into another."

It should be mentioned that I am not a consistently profitable trader, yet.
Wow! I've got some experience to gain.
  • #13,318
  • Aug 15, 2018 2:53am Aug 15, 2018 2:53am
Quoting Lawnman
{quote} I have been observing the YM/US30/DOW for a bit now. I find that there are HOLO entries often in the evening and early morning (EST), but often have to bend the rules because it tends to "wick" (no candle close/open) in and out of the AOI. I see a fair amount of "Hal special" 1-2-3 entries as well. When my busy season slows down, I hope to be able to trade more consistently and be able to post some trades. I have yet to find a currency pair that I can feel like the US30. I follow Mr. Pip's Ratios and Harmonics thread as well. Even though...
Hi again, Lawnman. Good to have you pop in.

I have mentioned in the past but is perhaps worth repeating in light of your comment, that you will need to bend the rules on the indices more often than not, as as you say, candles will not open in the AOI but instead wick into it. I feel this is more to do with how the information is handled by mt4 but is nevertheless still true.

As such, bending the rules is needed if you want to enter. This takes experience to help in interpreting what other things are going on around you.

One way to deal with this issue, is to use line charts instead of candle or bar. That is how we used to trade these methods on the high time frames.
  • #13,319
  • Aug 15, 2018 3:01am Aug 15, 2018 3:01am
Some possibility here today...

Attached Image (click to enlarge)
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  • #13,320
  • Aug 15, 2018 3:31am Aug 15, 2018 3:31am
Quoting lemercenaire
Some possibility here today... {image}
Dipped entry Long on the m5...

Attached Image (click to enlarge)
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Full candle open entry down on the m1...

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