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Highest Open / Lowest Open Trade

  • #14,541
  • Dec 21, 2019 12:00pm Dec 21, 2019 12:00pm
Who is taking the 10 trade challenge the week of DECEMBER 22, 2019?

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
  • #14,542
  • Dec 23, 2019 6:23am Dec 23, 2019 6:23am
Trade #1

  1. XAUUSD
  2. Crosshair marks highest open: 11:00 broker time.
  3. Entry on 15m after next candle opened higher.
  4. SL hit (just)
  5. -11p

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2019-12-23 at 2.18.24 PM.png Size: 37 KB
  • #14,543
  • Dec 23, 2019 6:29am Dec 23, 2019 6:29am
Trade #2

  1. XAUUSD
  2. Crosshair marks highest open: 12:00 broker time.
  3. Entry (late) on 5m after next candle opened higher.
  4. BE
  5. Price continues south another 20 pips

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2019-12-23 at 2.27.26 PM.png Size: 37 KB
  • #14,544
  • Dec 24, 2019 2:18am Dec 24, 2019 2:18am
Trade #3 (didn't even want to show this one)

 

  1. XAUUSD
  2. Crosshair marks highest open: 08:00 broker time.
  3. Sell limit entry
  4. Way too late, and just before LO. Lesson definitely learnt.
  5. SL hit
  6. -11p
  7. Could have been a BE trade if entered on time and managed well. Even small profit.

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2019-12-24 at 10.11.27 AM.png Size: 38 KB
  • #14,545
  • Dec 24, 2019 6:11am Dec 24, 2019 6:11am
Trade #4

  1. XAUUSD
  2. Crosshair marks highest open: 11:00 broker time.
  3. Closed 1/2 position at 10 pips
  4. BE on remainder

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2019-12-24 at 2.08.53 PM.png Size: 39 KB
  • #14,546
  • Dec 24, 2019 7:43am Dec 24, 2019 7:43am
Quoting helbor
Trade #4 XAUUSD Crosshair marks highest open: 11:00 broker time. Closed 1/2 position at 10 pips BE on remainder {image}
While I appreciate the dedication shown, you must know that you are probably the only person in the world still trading, lol.
  • #14,547
  • Dec 24, 2019 12:59pm Dec 24, 2019 12:59pm
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 54 KB


Crazy to trade this.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #14,548
  • Dec 30, 2019 1:04pm Dec 30, 2019 1:04pm
Who is taking the 10 trade challenge the week of DECEMBER 29, 2019?

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
  • #14,549
  • Dec 31, 2019 6:25am Dec 31, 2019 6:25am
Trade #5 (yes I know it's crazy)

 

  1. XAUUSD
  2. Crosshair marks highest open: 10:00 broker time.
  3. Entry on 5m, a little early, next 1h candle opened higher
  4. SL set to 20p (few pips above daily high)
  5. Closed 1/2 position at 5p
  6. BE on remainder, yet trade was good for 20p. (exactly to the .38 fib retracement of latest bull leg)

Loving the strategy but struggling to capture more profits. It's me, I know, I'll keep trying.

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2019-12-31 at 2.18.21 PM.png Size: 41 KB
  • #14,550
  • Dec 31, 2019 9:07am Dec 31, 2019 9:07am
Quoting helbor
Trade #5 (yes I know it's crazy) XAUUSD Crosshair marks highest open: 10:00 broker time. Entry on 5m, a little early, next 1h candle opened higher SL set to 20p (few pips above daily high) Closed 1/2 position at 5p BE on remainder, yet trade was good for 20p. (exactly to the .38 fib retracement of latest bull leg) Loving the strategy but struggling to capture more profits. It's me, I know, I'll keep trying. {image}
No comment from me about trading just now, lol.

Anyway, one thing to remember is that there is nothing wrong with using your trading knowledge to add to any particular method.

Now I know for the purposes of this thread and for all those learning the process, this is NOT something to do - learn the method as it stands first. HOLO will stand you in good stead no matter what.

However just for education's sake, take a look at your trade.

You had your entry and all good there, however because of the pull back you were taken out. Fair enough that's all according to the rules.

Now, look at the price action at the turning point and what do you see? Pretty clear indications that price was going to turn again and continue down.

So of course, that's nothing to do with the rules but as you gain experience and master the main method, why would you not maximise your return by layering other techniques on top while running your trade management?

This is also where many new traders fall down, they get stuck in "the method", ignoring clear opportunities that don't fit. Whereas in reality, experienced traders will layer methods on top of one another to make the most of every move.

Keep it up though. Once the actual trading season starts again, hopefully you'll find things working a bit more as they would normally.
  • #14,551
  • Dec 31, 2019 10:22am Dec 31, 2019 10:22am
Quoting lemercenaire
{quote} No comment from me about trading just now, lol. Anyway, one thing to remember is that there is nothing wrong with using your trading knowledge to add to any particular method. Now I know for the purposes of this thread and for all those learning the process, this is NOT something to do - learn the method as it stands first. HOLO will stand you in good stead no matter what. However just for education's sake, take a look at your trade. You had your entry and all good there, however because of the pull back you were taken out. Fair enough that's...
I value the input Lemercenaire.
Happy 2020.
  • #14,552
  • Jan 1, 2020 10:33am Jan 1, 2020 10:33am
Quoting helbor
Trade #5 (yes I know it's crazy) XAUUSD Crosshair marks highest open: 10:00 broker time. Entry on 5m, a little early, next 1h candle opened higher SL set to 20p (few pips above daily high) Closed 1/2 position at 5p BE on remainder, yet trade was good for 20p. (exactly to the .38 fib retracement of latest bull leg) Loving the strategy but struggling to capture more profits. It's me, I know, I'll keep trying. {image}
Use the tools provided to learn this method.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #14,553
  • Jan 3, 2020 3:45am Jan 3, 2020 3:45am
Trade #7 (trade #6 is really just too painful to display)

Clearly, I've picked the wrong instrument at the wrong time for my 10 trade challenge but now i have a very solid understanding of freight trains.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2020-01-03 at 11.36.18 AM.png Size: 41 KB
  • #14,554
  • Jan 3, 2020 5:38am Jan 3, 2020 5:38am
Quoting helbor
Trade #7 (trade #6 is really just too painful to display) Clearly, I've picked the wrong instrument at the wrong time for my 10 trade challenge but now i have a very solid understanding of freight trains. {image}
My forehead is sore from banging it against this particular brick wall, lol.
  • #14,555
  • Jan 3, 2020 3:50pm Jan 3, 2020 3:50pm
Quoting helbor
Trade #7 (trade #6 is really just too painful to display) Clearly, I've picked the wrong instrument at the wrong time for my 10 trade challenge but now i have a very solid understanding of freight trains. {image}
Everyone, at least I, wants to see #6.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #14,556
  • Jan 3, 2020 6:09pm Jan 3, 2020 6:09pm
Thank you for sharing your method. As of Monday, I'll post my trades on USD/JPY, during the Asian session according to your challenge.
He bought? Dump it!
  • #14,557
  • Jan 4, 2020 3:41am Jan 4, 2020 3:41am
Quoting TooSlow
{quote} Everyone, at least I, wants to see #6.
Your insistence makes it more painful but I recognise the benefit. It was a reckless entry after breakout of previous day high. Added to the short on next higher open, moved SL so far away it would never get hit. But of course, it did. Not an example of a flawed method but rather a flawed trader.
  • #14,558
  • Jan 4, 2020 8:39am Jan 4, 2020 8:39am
Quoting lemercenaire
{quote} No comment from me about trading just now, lol. Anyway, one thing to remember is that there is nothing wrong with using your trading knowledge to add to any particular method. Now I know for the purposes of this thread and for all those learning the process, this is NOT something to do - learn the method as it stands first. HOLO will stand you in good stead no matter what. However just for education's sake, take a look at your trade. You had your entry and all good there, however because of the pull back you were taken out. Fair enough that's...
Hi LeMercenarie, i like to ask you what is the strategy or strategies, that you use more often, i find that after trying HOLO or Wick Zones strategies does not look good in the long term, but i am asking to see in what strategy to invest time in effort to master.
Thank you in advanced.
  • #14,559
  • Jan 4, 2020 10:33am Jan 4, 2020 10:33am
Quoting hhc
{quote} Hi LeMercenarie, i like to ask you what is the strategy or strategies, that you use more often, i find that after trying HOLO or Wick Zones strategies does not look good in the long term, but i am asking to see in what strategy to invest time in effort to master. Thank you in advanced.

Hi. From my point of view, I think he uses a confluence of TooSlow's method and supply and demand zones. As soon as the prices reaches one of those zones, he waits for a trade trigger according to the rules pointed by the OP.

I don't know, just my 2 cents.
He bought? Dump it!
  • #14,560
  • Jan 4, 2020 2:41pm Jan 4, 2020 2:41pm
Quoting helbor
{quote} Your insistence makes it more painful but I recognise the benefit. It was a reckless entry after breakout of previous day high. Added to the short on next higher open, moved SL so far away it would never get hit. But of course, it did. Not an example of a flawed method but rather a flawed trader.
Ouch. However, as I have posted here before, it is only a mistake if you don't learn from it.
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