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Highest Open / Lowest Open Trade

  • #17,021
  • Edited 1:16pm Oct 17, 2022 1:04pm | Edited 1:16pm
Quoting andy1946
I'm taking on the challenge Time: October 16 - October 22, 2022 Pair: GBPUSD Risk: 0.01 lot/trade Expected ratio: Risk 1 / Reward 2 - Trade: 02 / 10 orders SL: -22 pips / TP: +44 pips Lost = -22 pips - Total pips = +18 -22 = -4 pips - Learn from experience: The price has dropped in the right direction 18 pips but I still don't move the Stoploss to Break Even.{image}{image}
Hi Andy
on your second trade you had two opportunities to sell and the first would have been a BE+1 and the second +5, but instead you sustained a -22 full SL. I suppose the rule to move your SL when you're in the green by increment of 5 is to preserve you gains and to prevent such a loss.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM1-Andy second trade.png Size: 16 KB
Your third trade would have been +25, and yet you were stopped at BE.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15-Andy third trade.png Size: 17 KB
  • #17,022
  • Oct 17, 2022 10:22pm Oct 17, 2022 10:22pm
I'm taking on the challenge
Time: October 16 - October 22, 2022
Pair: GBPUSD
Risk: 0.01 lot/trade
-
Trade: 04 / 10 orders
Won = +5 pips
-
Total pips = +18 -22 +0 +5 = +1 pips
-
Price goes up 5 pips move SL to BE +1
Attached Image (click to enlarge)
Click to Enlarge Name: z3808496988479_be2482eee661d5c149bdf320686ecc95.jpg Size: 160 KB

Price goes up 10 pips move BE +5
Attached Image (click to enlarge)
Click to Enlarge Name: z3808528333728_836a646ff94526357b49868882b7d70b.jpg Size: 146 KB
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  • #17,023
  • Edited 11:41pm Oct 17, 2022 11:02pm | Edited 11:41pm
I'm taking on the challenge
Time: October 16 - October 22, 2022
Pair: GBPUSD
Risk: 0.01 lot/trade
-
Trade: 05 / 10 orders
Won = +20 pips
-
Total pips = +18 -22 +0 +5 +20 = +21 pips
-
Price goes up 5 pips move SL to BE +1
Attached Image (click to enlarge)
Click to Enlarge Name: z3808611880750_7176552fdee2115b8b71fcd65c2bb88e.jpg Size: 154 KB

Price goes up 27 pips move BE +20
Attached Image (click to enlarge)
Click to Enlarge Name: z3808647574706_3c9d42ef3aac774b2193ba3449145c30.jpg Size: 146 KB
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  • #17,024
  • Oct 17, 2022 11:30pm Oct 17, 2022 11:30pm
Quoting TooSlow
{quote} SL: -22 pips / TP: +44 pips Where did you come up with those numbers for SL and TP? Have you read POST #1?
When approaching the new, it is difficult to erase the old from my mind.
Other methods I've learned in the past are generally managing with a % of account balance and expecting a 1:2 1:3 RR...
And it's also very rare to move SL to BE when the price is only 5-10pips
--
Today, I will try to delete all the old ones and focus on the instructions of post #1.
➭ Trade 0.01 lot until I am proficient and comfortable with this HOLO strategy.
➭ +5 moves SL to BE +1
➭ +10 move BE +5...
➭ 1 BE +1 trade is still better than 1 losing trade and then there is always another chance.
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  • #17,025
  • Oct 17, 2022 11:34pm Oct 17, 2022 11:34pm
Quoting lbtrader
{quote} Hi Andy on your second trade you had two opportunities to sell and the first would have been a BE+1 and the second +5, but instead you sustained a -22 full SL. I suppose the rule to move your SL when you're in the green by increment of 5 is to preserve you gains and to prevent such a loss.{image}Your third trade would have been +25, and yet you were stopped at BE. {image}
Hi Ibtrader,
The first 3 trades I am still affected by the management ways of the previous method.
Today I will change and strictly follow the HOLO principles
Thank you for your feedback
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  • #17,026
  • Edited 2:43am Oct 18, 2022 12:19am | Edited 2:43am
Quoting andy1946
{quote} Hi Lbtrader, The first 3 trades I am still affected by the management ways of the previous method. Today I will change and strictly follow the HOLO principles Thank you for your feedback
You're on the way, your last two trades are by the rules, well done.
As you can see, if you follow the +5 pip rule you tend to leave a lot on the table as in the second trade so what you can do is use a trailing stop as suggested by TS in the first post
Quoting TooSlow
Adjust your position size accordingly.
Take profit by moving stop.
When trade is +5 or more, move stop to BE+1.
When trade is +10 or more, move to to BE+5, or switch to trailing stop.
Optional exit is to exit part of trade position with a profit to bank it, move stop to BE+1 and watch the market.
NOTE: Do not wait for the bar to close to enter a trade.
I personally use this trailing method:
if price moves to 1 I move my stop to BE+1, when it moves to 2, I move to the low of 1
when it moves to 3, I move it to the low of 2.... and so on and so forth, you can see in this trade the price continues up all the way until you're stopped out at the low of 12 or close it manually at 14.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM5-Andy 4-5.png Size: 35 KB
  • #17,027
  • Oct 18, 2022 2:38am Oct 18, 2022 2:38am
Quoting lbtrader
{quote} Hello den I presume the black candle is a bear candle right? in this case your highest open line is on the top of the candle and not the bottom.{image}{image}only one valid entry presented itself here on the M1 TF. Please refer to the pdf files posted here for more information https://www.forexfactory.com/thread/...2#post13973242
Hey lbtrader,

thank you, appreciate the feed back!

Will go over the strat pdf's again...... and again, and again!!
  • #17,028
  • Oct 18, 2022 3:09am Oct 18, 2022 3:09am
Hey guys,

Would this follow the rules? Candle doesn't close above the highest open candle on the 1HR but does close above then drops back through on the 3min, 2min and 1 min. (only wicks on the 5 min).
Attached Image(s) (click to enlarge)
Click to Enlarge Name: HOLO USDJPY 1hr.png Size: 55 KB
Click to Enlarge Name: HOLO USDJPY 3MIN.png Size: 50 KB
  • #17,029
  • Oct 18, 2022 3:32am Oct 18, 2022 3:32am
I'm taking on the challenge
Time: October 16 - October 22, 2022
Pair: GBPUSD
Risk: 0.01 lot/trade
-
Trade: 06 / 10 orders
Won = +5 pips
-
Total pips = +18 -22 +0 +5 +20 +5 = +26 pips
-
Price goes up 10 pips move BE +5
Attached Image (click to enlarge)
Click to Enlarge Name: z3809284377289_159f71e168356b314e38920cde366f2e.jpg Size: 168 KB


Price goes up 20 pips move BE +5
Attached Image (click to enlarge)
Click to Enlarge Name: z3809373491114_dc1127784bf2284dd3e1f6dbc49ffa0a.jpg Size: 158 KB
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  • #17,030
  • Edited 5:24am Oct 18, 2022 5:14am | Edited 5:24am
Quoting andy1946
Price goes up 20 pips move BE +5{image}
Price goes up 20 pips move SL to BE +15, SL is lagging only 5 pips behind.
  • #17,031
  • Oct 18, 2022 5:56am Oct 18, 2022 5:56am
Quoting den83c
Hey guys, Would this follow the rules? Candle doesn't close above the highest open candle on the 1HR but does close above then drops back through on the 3min, 2min and 1 min. (only wicks on the 5 min). {image} {image}
You need to adjust your AOI, that long wick made a new daily high, so this will be the upper border of the AOI, and now you will be looking for candles that open inside that area and cross down
  • #17,032
  • Oct 18, 2022 1:10pm Oct 18, 2022 1:10pm
Quoting lbtrader
{quote} You need to adjust your AOI, that long wick made a new daily high, so this will be the upper border of the AOI, and now you will be looking for candles that open inside that area and cross down
Thank you!
  • #17,033
  • Oct 18, 2022 3:07pm Oct 18, 2022 3:07pm
Hey all,

is there any YT explaination for this ? I am dumb and get so confuse with reading instruction. I would like to see video and explaination in video. Sorry not demanding its just I can't get things straight.

Thanks.
  • #17,034
  • Oct 18, 2022 8:28pm Oct 18, 2022 8:28pm
I'm taking on the challenge
Time: October 16 - October 22, 2022
Pair: GBPUSD
Risk: 0.01 lot/trade
-
Trade: 07 / 10 orders
BE = +1 pips
-
Total pips = +18 -22 +0 +5 +20 +5 +1 = +27 pips
Attached Image (click to enlarge)
Click to Enlarge Name: z3810952836285_99dd8b189397131d92e79c3aa3334860.jpg Size: 159 KB

Attached Image (click to enlarge)
Click to Enlarge Name: z3810955350273_7e7d86ada6842851d5e782a34de6ab7e.jpg Size: 142 KB
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  • #17,035
  • Edited 11:21pm Oct 18, 2022 10:03pm | Edited 11:21pm
I'm taking on the challenge
Time: October 16 - October 22, 2022
Pair: GBPUSD
Risk: 0.01 lot/trade
-
Trade: 08 / 10 orders
BE = +1 pips
-
Total pips = +18 -22 +0 +5 +20 +5 +1 +1 = +28 pips
-
Entry
Attached Image (click to enlarge)
Click to Enlarge Name: z3811013944513_b6587eef72ecac5a1c1b0a0de12edc3a.jpg Size: 161 KB


Move SL to BE +1
Attached Image (click to enlarge)
Click to Enlarge Name: z3811237692014_3412c65823ab563e2bb58976d1aaa967.jpg Size: 160 KB
Attached Image (click to enlarge)
Click to Enlarge Name: z3811263093862_d9591992ba34ebbb16ebbd503c44fb91.jpg Size: 144 KB
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  • #17,036
  • Edited Oct 19, 2022 2:39am Oct 18, 2022 11:24pm | Edited Oct 19, 2022 2:39am
I'm taking on the challenge
Time: October 16 - October 22, 2022
Pair: GBPUSD
Risk: 0.01 lot/trade
-
Trade: 09 / 10 orders
Won = +5 pips
-
Total pips = +18 -22 +0 +5 +20 +5 +1 +1 +5 = +33 pips
-
Price drops 5 pips move BE +1
Attached Image (click to enlarge)
Click to Enlarge Name: z3811427153400_ca45c22dcfad678d0fbdfa4e1ec45593.jpg Size: 162 KB

Price drops 10 pips move BE +5
Attached Image (click to enlarge)
Click to Enlarge Name: z3811497768206_cd66d9b587a269a3f3ed9a1a80b5a47e.jpg Size: 149 KB
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  • #17,037
  • Oct 19, 2022 12:00am Oct 19, 2022 12:00am
Quoting rogeryrogery
Hey all, is there any YT explaination for this ? I am dumb and get so confuse with reading instruction. I would like to see video and explaination in video. Sorry not demanding its just I can't get things straight. Thanks.
No, Sorry mate......unless TS has something hidden away.
  • #17,038
  • Oct 19, 2022 12:08am Oct 19, 2022 12:08am
Trade from this afternoon...... getting the hang of this (please critique if I have gotten anything wrong or not followed the rules)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: HOLO AUDUSD 1hr.png Size: 62 KB
Click to Enlarge Name: HOLO AUDUSD 5MIN.png Size: 69 KB
  • #17,039
  • Oct 19, 2022 1:12am Oct 19, 2022 1:12am
Quoting den83c
Trade from this afternoon...... getting the hang of this (please critique if I have gotten anything wrong or not followed the rules) {image} {image}
You followed the rule on this one, and you would have been stopped out at +5 anyway since price did not go beyond 9 pips, however you should notice that 2 hours later there was a higher H1 open which changed the entry line but the high was still the same, so a smaller AOI and therefore a lesser risk for the new entry but still ends up with a +5 by the rules.
Attached Image (click to enlarge)
Click to Enlarge Name: 03D47E29-7B21-4ED0-BF32-8A1F0F641187.png Size: 27 KB
  • #17,040
  • Oct 19, 2022 1:50am Oct 19, 2022 1:50am
So effectively could have re-entered at that next higher close 1hr bar for another 5+

Thank you lbtrader.... appreciate your feedback
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