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  • #9,421
  • Dec 8, 2019 8:46pm Dec 8, 2019 8:46pm
Quoting lemercenaire
{quote} That's no problem, it's a valid question. It can be cost effective to buy a refurbed i7 laptop on your friendly neighbourhood auction site and put nothing on it but your broker's mt4. Ex-gaming machines are great.
or he can just get a VPS and trade on a virtual machine
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  • #9,422
  • Dec 9, 2019 12:20am Dec 9, 2019 12:20am
I have a couple more questions please

1. what do you do if a previous candle makes both a new daily high and a low ? Do you go long and short on current H1[0] or do you simply ignore these scenarios ?

2. and theoretically the first candle of the day (assuming your day starts 5pm EST) will make the daily high and low. Do you take this into consideration as a setup or you wait a couple H1 candles into the day for formations to begin before you look for setups ?
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  • #9,423
  • Dec 9, 2019 2:13am Dec 9, 2019 2:13am
Quoting tiestobob
I have a couple more questions please 1. what do you do if a previous candle makes both a new daily high and a low ? Do you go long and short on current H1[0] or do you simply ignore these scenarios ? 2. and theoretically the first candle of the day (assuming your day starts 5pm EST) will make the daily high and low. Do you take this into consideration as a setup or you wait a couple H1 candles into the day for formations to begin before you look for setups ?
I wouldn't touch those scenarios. You have no serious information to work with.
  • #9,424
  • Dec 9, 2019 4:53am Dec 9, 2019 4:53am
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Short CA +5 locked
  • #9,425
  • Dec 9, 2019 10:54am Dec 9, 2019 10:54am
Quoting lemercenaire
{quote} I wouldn't touch those scenarios. You have no serious information to work with.
Great thanks!
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  • #9,426
  • Dec 9, 2019 12:08pm Dec 9, 2019 12:08pm
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ECH -6


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NJ +7


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UCH +5
  • #9,427
  • Dec 9, 2019 7:46pm Dec 9, 2019 7:46pm
Quoting Malkontent
{image} ECH -6 {image} NJ +7 {image} UCH +5
how did you lose out on EURCHF? did you wait till it crossed the H1[0] open ?
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  • #9,428
  • Dec 9, 2019 7:49pm Dec 9, 2019 7:49pm
Quoting tiestobob
{quote} how did you lose out on EURCHF? did you wait till it crossed the H1[0] open ?
You should stay well away from any CHF pair. It is notorious for being manipulated by the SNB.
  • #9,429
  • Dec 10, 2019 12:31am Dec 10, 2019 12:31am
Quoting tiestobob
{quote} how did you lose out on EURCHF? did you wait till it crossed the H1[0] open ?
Yes, I waited.
  • #9,430
  • Dec 10, 2019 12:36am Dec 10, 2019 12:36am
Quoting lemercenaire
{quote} You should stay well away from any CHF pair. It is notorious for being manipulated by the SNB.
Agreed. However, in the scheme we have here where we are looking at a few pips should it be concerning? I mean I'm just trying to understand if the SNB manipulation would
impact a scalping strategy. Have you done any trades and got bad experience in the past using this strategy on CHF pairs ? So far I’ve only forward tested on one CHF pair and it hit tp but it’s only one trade and I might have gotten lucky. I’m still struggling with the money management on this strategy. Do you guys set a tp and sl when opening an order ? And if so a little guidance would be appreciated.


PS. I will forever remember January 15, 2015 lol ...
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  • #9,431
  • Dec 10, 2019 12:40am Dec 10, 2019 12:40am
Quoting Malkontent
{quote} Yes, I waited.
it went up 3.1 pips before coming down. I guess your tp was not hit and it went back down hitting your stoploss I assume ...


update: actually from what I see it didn’t seem like EC ever dropped low to “test” the previous daily low and retraced back to the daily open ... I’m saying this was probably not a good setup to begin with
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  • #9,432
  • Dec 10, 2019 12:42am Dec 10, 2019 12:42am
Quoting tiestobob
{quote} it went up 3.1 pips before coming down. I guess your tp was not hit and it went back down hitting your stoploss I assume ...
Exactly
  • #9,433
  • Dec 10, 2019 1:41am Dec 10, 2019 1:41am
Quoting tiestobob
{quote} Agreed. However, in the scheme we have here where we are looking at a few pips should it be concerning? I mean I'm just trying to understand if the SNB manipulation would impact a scalping strategy. Have you done any trades and got bad experience in the past using this strategy on CHF pairs ? So far I’ve only forward tested on one CHF pair and it hit tp but it’s only one trade and I might have gotten lucky. I’m still struggling with the money management on this strategy. Do you guys set a tp and sl when opening an order ? And if so a little...
I have no hard data for HOLO and the CHF as I never touch it for any method I use.

You're probably correct in that for the scalping moves here, you'll be safe...until you aren't.
  • #9,434
  • Dec 10, 2019 1:56am Dec 10, 2019 1:56am
Quoting tiestobob
{quote} Agreed. However, in the scheme we have here where we are looking at a few pips should it be concerning? I mean I'm just trying to understand if the SNB manipulation would impact a scalping strategy. Have you done any trades and got bad experience in the past using this strategy on CHF pairs ? So far I’ve only forward tested on one CHF pair and it hit tp but it’s only one trade and I might have gotten lucky. I’m still struggling with the money management on this strategy. Do you guys set a tp and sl when opening an order ? And if so a little...

As for mm. I use my own counter trading technique, which I won't go into here as it is a whole new method in its own right and I won't muddy up TooSlow's thread. I think we talked about it briefly in the past but I have no idea whereabouts in the thread exactly.

It is also not a technique that is easily available to those traders in the US for instance and not something that is for every trader anyway, being an advanced method of trading.

Having said that, when I first began using HOLO as described here, I happily used the trade management laid out by TooSlow and had no problems with it.
  • #9,435
  • Dec 10, 2019 2:58am Dec 10, 2019 2:58am
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Long CA +5 locked
  • #9,436
  • Dec 11, 2019 6:59am Dec 11, 2019 6:59am
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Long JY +5 locked
  • #9,437
  • Dec 11, 2019 10:15am Dec 11, 2019 10:15am
Were these consecutive highs all valid setups to go short (if price retraced below the H1[0] open down)? I feel like if I traded these it would have been really bad for me. I just wanna get your opinions on how to avoid these.

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  • #9,438
  • Dec 11, 2019 10:16am Dec 11, 2019 10:16am
From yesterday

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UCH -


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UJ -
  • #9,439
  • Dec 11, 2019 10:22am Dec 11, 2019 10:22am
Quoting tiestobob
Were these consecutive highs all valid setups to go short (if price retraced below the H1[0] open down)? I feel like if I traded these it would have been really bad for me. I just wanna get your opinions on how to avoid these. {image}
Experience. No one easy answer, I'm afraid.

Looking at those wicks, you can see that price is repeatedly running sucker plays to take out stops.

Having a look at what is going on up on the H4 chart may have helped, as you could perhaps see the larger overall structure.

Supply + Demand information could have been useful.

Even pa down on the lower timeframes may have been of use.

In the end, it happens. That is why the best defence is a thorough knowledge and understanding of how your chosen pair usually works. Then you will be quicker to notice if something out of the ordinary may perhaps be happening.
  • #9,440
  • Dec 11, 2019 1:03pm Dec 11, 2019 1:03pm
Quoting lemercenaire
{quote} Experience. No one easy answer, I'm afraid. Looking at those wicks, you can see that price is repeatedly running sucker plays to take out stops. Having a look at what is going on up on the H4 chart may have helped, as you could perhaps see the larger overall structure. Supply + Demand information could have been useful. Even pa down on the lower timeframes may have been of use. In the end, it happens. That is why the best defence is a thorough knowledge and understanding of how your chosen pair usually works. Then you will be quicker to...
A friend has pointed out that the simplest answer to your question was that it was moved by news.

Don't trade over news.

I had not seen this as I am not trading December / January, so my screens are off.

You can still take the info I posted as a general comment on things to consider when looking at a chart.
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