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Highest Open / Lowest Open Trade

  • #13,821
  • Feb 18, 2019 6:36am Feb 18, 2019 6:36am
Quoting Booghie
{quote} HI lemercenaire, thank you for your wishes. I'm sure you are right, but I'm at the moment when I'm not sure if I understand the system well, I am referring strictly to its technical part, to the rules. Although I have read a few times, I'm not sure if I understand everything ok, especially since it seems to me that there are sometimes diametrically opposed things and I do not know which version is right. As a result, I stubbornly struggle to understand, because I like the PA-based trading idea....
Hi Booghie.

Can you give me an example of: ''...there are sometimes diametrically opposed things and I do not know which version is right.''?
  • #13,822
  • Feb 18, 2019 8:24am Feb 18, 2019 8:24am
Stopped out on USDJPY

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  • #13,823
  • Feb 18, 2019 9:34am Feb 18, 2019 9:34am
Quoting Contadino
Stopped out on USDJPY {image}
It's a US bank holiday today. Not ideal trading conditions for Greenback pairs.
  • #13,824
  • Feb 18, 2019 9:52am Feb 18, 2019 9:52am
Would have been both valid HoLo setups?
The first one at the beginning of the day and the one at 15:00 GMT+2?
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  • #13,825
  • Feb 18, 2019 12:14pm Feb 18, 2019 12:14pm
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AUDCAD +8 Pips
  • #13,826
  • Feb 18, 2019 2:01pm Feb 18, 2019 2:01pm
Quoting ForeXhell
Would have been both valid HoLo setups? The first one at the beginning of the day and the one at 15:00 GMT+2? {image}
They are both 1-2-3 set ups.

Would need to see the m15 / m5 to know if there was a HOLO entry.
  • #13,827
  • Feb 18, 2019 4:41pm Feb 18, 2019 4:41pm
Has anyone bask-tested this?
  • #13,828
  • Feb 19, 2019 12:31am Feb 19, 2019 12:31am
Quoting lemercenaire
{quote} They are both 1-2-3 set ups. Would need to see the m15 / m5 to know if there was a HOLO entry.
Morning´Lem!
Thanks for looking over it. Maybe one day I fully understand the differences between HOLO and 1-2-3...
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  • #13,829
  • Feb 19, 2019 3:37am Feb 19, 2019 3:37am
Quoting ForeXhell
{quote} Morning´Lem! Thanks for looking over it. Maybe one day I fully understand the differences between HOLO and 1-2-3... {image}
'Morning, buddy. In simple terms, first off, in general, you never leave the H1 tf for 1-2-3. Once the New H1 Open level has formed, then it's simply price crossing that level that triggers the entry.

For HOLO, you get the set up from the H1, however, one then drops down to m15 or m5 and you look for one of those candles to open in the ''Area of Interest'', which is the zone formed between the H1 Open level and the H or L extreme. Once (if) you get that candle opened signal, you use price movement as it crosses back over over entry level.
  • #13,830
  • Feb 19, 2019 3:44am Feb 19, 2019 3:44am
Quoting JockTrader
Has anyone bask-tested this?
As a matter of interest i can see that we have a few hundred pages and the strategy is interesting but i can see that this system has been back-tested and was proven that this strategy does not work, see back test post https://www.forexfactory.com/showthr...66#post9517266

So is this back-test not valid ? Am i missing something as to why people are still trying it, is it because its simple OR does it actually work and the back test is crap?
  • #13,831
  • Feb 19, 2019 4:03am Feb 19, 2019 4:03am
Quoting JockTrader
{quote} As a matter of interest i can see that we have a few hundred pages and the strategy is interesting but i can see that this system has been back-tested and was proven that this strategy does not work, see back test post https://www.forexfactory.com/showthread.php?p=9517266#post9517266 So is this back-test not valid ? Am i missing something as to why people are still trying it, is it because its simple OR does it actually work and the back test is crap?
I'm not going to get into a long conversation about this, all I will say is that if I remember correctly - and I'm certainly not going to waste any time going and checking - the back tests that anyone did (and in general back tests are a complete and utter waste of time no matter what method you are talking about) took every single entry that showed across as many pairs as they could muster.

This is not how to make best use of HOLO.

You need to pick a well used pair (plenty of examples on here and blatantly obvious which ones are the best performers) and use a certain amount of discretion in choosing your entries. Yes, you can run HOLO without any added info and I did so myself when I first began using it, however there are times when it will help if the trader actually engages their brain before pulling the trigger.

Anyway, as I said, I'm not going to get into this. Been there, done that, burned the t-shirt.

Pick a pair - here's a hint...which one does TooSlow post every...single...day?

Open a micro account.

Run a 10-Trade Challenge.

If you discover that it works - that you get it. Brilliant. Winner-winner-chicken-dinner.

If it doesn't do it for you. That's fair enough. Horses for courses. Keep looking.

I wish you well in your fx journey going forward.

However, I can guarantee that you will get no more answers to your question, no matter how many times you ask it.

I'm honestly not trying to be rude, it's just that Too Slow has made it clear many, many, times over the life of the thread, how he expects traders to run his method.
  • #13,832
  • Feb 19, 2019 4:41am Feb 19, 2019 4:41am
Quoting lemercenaire
Winner-winner-chicken-dinner.
LoL ... gonna keep that in mind when we get chicken tonight
  • #13,833
  • Feb 19, 2019 4:58am Feb 19, 2019 4:58am
Quoting lemercenaire
{quote} 'Morning, buddy. In simple terms, first off, in general, you never leave the H1 tf for 1-2-3. Once the New H1 Open level has formed, then it's simply price crossing that level that triggers the entry. For HOLO, you get the set up from the H1, however, one then drops down to m15 or m5 and you look for one of those candles to open in the ''Area of Interest'', which is the zone formed between the H1 Open level and the H or L extreme. Once (if) you get that candle opened signal, you use price movement as it crosses back over over entry level....
Morning´Lem ---> THANK YOU !!
This answer should be posted on both threads at the end of post #1 ....

So basically HOLO might get you in earlier ... so more opportunities 4 x 15min or 12 x 5min.
---------
TooSlow, if you are reading this: I really wanna learn and I do (probably "too slow" haha) but foreign language and 22K posts in two threads is no "winner-winner-chicken-dinner"Lem per se!
  • #13,834
  • Feb 19, 2019 5:25am Feb 19, 2019 5:25am
Quoting lemercenaire
{quote} I'm not going to get into a long conversation about this, all I will say is that if I remember correctly - and I'm certainly not going to waste any time going and checking - the back tests that anyone did (and in general back tests are a complete and utter waste of time no matter what method you are talking about) took...................

In that case i will give it a go, especially since a quote that i also use often is "Winner-winner-chicken-dinner."
  • #13,835
  • Feb 19, 2019 6:09am Feb 19, 2019 6:09am
Over the summer I've read dozens of threads and tens of thousands of posts.

I would not say that I have completely wasted my time on different approaches (or maybe I did) because starting from scratch, there is always something to learn.

I also started TooSlow's threads but just could not figure it out at all. First it seemed easy, but watching live charts left with two options, (1) I am too dumb or (2) HOLO and 1-2-3 is just not working. People tend to think they are clever so I chose option (2) and moved on.

After a fall and winter with more and more reading and hundred hours in front of live charts, guess what?

The only threads I'm reading now are the ones mentioned above, and I'm sure someday I'll see the light ...
  • #13,836
  • Feb 19, 2019 6:56am Feb 19, 2019 6:56am
[quote=JockTrader;12018782]{quote} In that case i will give it a go, especially since a quote that i also use often is "Winner-winner-chicken-dinner."[/quote]

Good! Glad to hear it.

I hope it clicks for you and that you stick around and contribute to the thread.

I don't post here and 1-2-3 anywhere near enough any more. This is not because the methods don't work for me - far from it - it's simply time pressure and a slight change in emphasis on how I trade.

I trade full time and my day is pretty rigidly structured if I am looking at a full day in front of the screens. When I was running HOLO + 1-2-3, I would only be running one other method alongside and that was specific to the hour around the US Open. All the rest of the day, I could use to scan for trade opportunities. I can't do that so much anymore. I simply don't have the time.

However, that is why Too Slow's pick-one-pair dogma is so strong, as in fact it is the key to the whole kingdom. +5 points every day. Same place, same time. Learn that pair inside out and upside down. Here's another one for you: UC fills the same brief. It just loves to top-and-tail the UK day with a set up and a mini-move in the middle (the US Open). Another +5.

I wouldn't suggest the indices for you just yet - very dangerous waters. However a number perform spectacularly well with both methods. Once you build your confidence and experience then perhaps you could investigate these markets.

All of a sudden you could be making a good chunk o' change. Listen think about it. Even +5 every day. Compounding is your friend.

One of my favourite of Too Slow's Bruce Lee quotes is this:

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There can be no more potent tie in of this mantra than to HOLO + 1-2-3.

Good to have you on board.
  • #13,837
  • Feb 19, 2019 10:27am Feb 19, 2019 10:27am
Quoting JockTrader
Has anyone bask-tested this?
Have you read the almost 700 pages of this thread is a better question? Have you even read Post #1?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,838
  • Feb 19, 2019 11:01am Feb 19, 2019 11:01am
My answer might be in the 14,000 posts but cant read them all...

Is it ever the case that to many H1 candles have passed?

E.g we are now 8 H1 candles into the day is the setup still valid?
  • #13,839
  • Feb 19, 2019 12:25pm Feb 19, 2019 12:25pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,840
  • Feb 19, 2019 12:26pm Feb 19, 2019 12:26pm
Quoting lemercenaire
One of my favourite of Too Slow's Bruce Lee quotes is this:
Should I bring the Bruce Lee quotes back? I did not want to overuse them.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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