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Highest Open / Lowest Open Trade

  • #15,741
  • May 11, 2021 1:46am May 11, 2021 1:46am
Quoting skoras
this time with -7 pips on short EU {image}
Yes. It was tricky one. Managed to exit with +1 pips once PRICE reversed at current H1 open

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  • #15,742
  • May 11, 2021 2:23am May 11, 2021 2:23am
Quoting LooseMyMoney
{quote} Yes. It was tricky one. Managed to exit with +1 pips once PRICE reversed at current H1 open
I was thinking about the same, but after review of my 30 trades so far, statistic says that if I would not exit to early I would get more profits, therefore I am going to see what will be the result for next 10 trades if will not exit trades too early.
  • #15,743
  • May 11, 2021 2:39am May 11, 2021 2:39am
Quoting skoras
{quote} I was thinking about the same, but after review of my 30 trades so far, statistic says that if I would not exit to early I would get more profits, therefore I am going to see what will be the result for next 10 trades if will not exit trades too early.
Make sense!
It is also good to add aspect of moving price in time (momentum). Just my founding after 100+ trades with this method and still counting

Cheers mate!
  • #15,744
  • May 11, 2021 3:12am May 11, 2021 3:12am
Quoting LooseMyMoney
{quote} It is also good to add aspect of moving price in time (momentum).
Thanks for advice. I am sure I have to get more experience with HoLo method.
  • #15,745
  • May 11, 2021 3:34am May 11, 2021 3:34am
short EU, +5pips locked
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  • #15,746
  • May 11, 2021 1:10pm May 11, 2021 1:10pm
Quoting LooseMyMoney
{quote} Make sense! It is also good to add aspect of moving price in time (momentum). Just my founding after 100+ trades with this method and still counting Cheers mate!
I was thinking about it whole evening and came up with simple conclusion:
I prefer to improve my profitability of winning trades instead of focusing how to avoid loosing trades.

I know both are extremealy important, but let me explain what I mean by that. When I was focus on momentum my ration win to loose was 80%, but 50% of win trades was with BE+1, once I said I move to BE+1 only after +5pips on my favour the ratio of win to loose is 50/50. So it is better at this stage of my journey with HoLo to avoid loosing trades and focus on point I can improve to avoid early exits. On top of this I will get more confidence on this method.
Now I undersatand "BE+1 is better than loose"

Lastly, now I think I understand why TooSlow is so sceptic to autoTrading as this is not just zero-one (binary) method what I tried to implement.

Again thanks for hindsight.
  • #15,747
  • May 11, 2021 3:48pm May 11, 2021 3:48pm
Quoting skoras
" Lastly, now I think I understand why TooSlow is so sceptic to autoTrading as this is not just zero-one (binary) method what I tried to implement. Again thanks for hindsight.
Running an EA does not teach you how to trade.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #15,748
  • May 11, 2021 11:19pm May 11, 2021 11:19pm
Quoting skoras
{quote} I was thinking about it whole evening and came up with simple conclusion: I prefer to improve my profitability of winning trades instead of focusing how to avoid loosing trades. I know both are extremealy important, but let me explain what I mean by that. When I was focus on momentum my ration win to loose was 80%, but 50% of win trades was with BE+1, once I said I move to BE+1 only after +5pips on my favour the ratio of win to loose is 50/50. So it is better at this stage of my journey with HoLo to avoid loosing trades and focus on point...
Agree with that. Another magic with these BE +1 is that your equity curve will be smoother not so many dips and besides that I use risk compouded from my equity so if equity is steady growing I increase lot size according to that.
  • #15,749
  • May 12, 2021 8:53am May 12, 2021 8:53am
Long EU. Closed at BE+1
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  • #15,750
  • May 16, 2021 10:20am May 16, 2021 10:20am
Who is taking the 10 trade challenge the week of MAY 16, 2021?

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!

PLEASE READ ALL OF POST #1
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #15,751
  • May 17, 2021 5:55am May 17, 2021 5:55am
Monday,range conditions, 4 trades for today

+19 pips,
This was last trade, stopped at Daily open

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  • #15,752
  • May 20, 2021 1:39am May 20, 2021 1:39am
I was waiting quite a while for proper setup.
Short EU +3pips. Closed by mistake. Anyway 3pips banked.
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  • #15,753
  • May 20, 2021 2:10am May 20, 2021 2:10am
Hey all,
PRICE tested high with little break so bended rules slightly, with 3,5 pips SL banked +13 pips for whole position, so its 3,7 reward and 3,7% gain to my equity, patience paid off a lot this time

Thanks to this trade I reached my monthly goal and I am ending this month with +15% equity gain.

Funny part is that it is only one line for ENTRY one line for SL no candlestick patterns, no cycles, no 5 hour analysis, no Trends no forex guru´s.
We really do not need more that one line

See you next month

Green pips to all

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  • #15,754
  • May 21, 2021 1:19am May 21, 2021 1:19am
Long EU. Closed at BE+1.
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  • #15,755
  • May 22, 2021 9:15am May 22, 2021 9:15am
Who is taking the 10 trade challenge the week of MAY 23, 2021?

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!

PLEASE READ ALL OF POST #1
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #15,756
  • May 24, 2021 2:47am May 24, 2021 2:47am
Short EU. Closed at -9pips
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  • #15,757
  • May 24, 2021 3:10am May 24, 2021 3:10am
Quoting skoras
Short EU. Closed at -9pips {image}
We have bank holidays in EU (Germany, France) so biggest exchanges are closed, better wait for NY session

Take care
  • #15,758
  • May 26, 2021 1:04am May 26, 2021 1:04am
I have been trading this system as it says on the first post but i have not been consistently doing it daily, because of my work schedule eating into my trading hrs. Started last week and only been able to make 4 trades only on GBP/USD with one lost past. I would like to know if this system can be applied to the 4hr chart. I've been thinking of that but wanna be sure if someone else has tried it and how it went?
  • #15,759
  • May 26, 2021 1:49am May 26, 2021 1:49am
Quoting Cossy
I have been trading this system as it says on the first post but i have not been consistently doing it daily, because of my work schedule eating into my trading hrs. Started last week and only been able to make 4 trades only on GBP/USD with one lost past. I would like to know if this system can be applied to the 4hr chart. I've been thinking of that but wanna be sure if someone else has tried it and how it went?
Logic behind this method is that candles make wicks,price move up and down and also that PRICE usually did not close below lowest/highest open of chose timeframe (that represent candles again)

So instead of combo H1/Daily go for H4/weekly or Daily/monthly for example because logic behind it is the same. Entry time frame could be H1/H4 depends on your possibilities and entry could be managed by STOP orders if you could not watch PRICE realtime. But expect far less trades and more waiting time.

But note that all of this is theory and you have to teste it by TRADING it with 0,01 position put it into sheet and based on your results modify this method and suit it to your needs.

Hope it helps
  • #15,760
  • May 26, 2021 10:03am May 26, 2021 10:03am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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