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Highest Open / Lowest Open Trade

  • #18,021
  • Sep 16, 2024 6:28am Sep 16, 2024 6:28am
Quoting shertiger
{quote} My understanding is that the Holo method is to buy using the lowest open of the day, period. I haven't seen anything in the rules which states you ignore the current lowest open just because it happened earlier in the day. Happy to be corrected as I am just trying to learn.
Quoting MuniFX
{quote} this is not my understanding, I never saw any of the senior traders trade other than the current h1 candle trigger.. I guess we have to wait for a third person (preferably TooSlow) to confirm the right/wrong way.. kind regards
Because TooSlow didn't reply to our/my inquiry .. I did some digging..
There are indeed senior traders that trade the way shertiger described it.. his understanding is therefor correct.
My apalogies. I am sorry that my memory didn't served me well.
I never traded that way... only in the way I understood the method..which wasn't a disadvantage for me and my trading gains...(other than missing out on potential trade opportunities)

happy trading !!
Muni loves you all!
  • #18,022
  • Sep 16, 2024 8:36am Sep 16, 2024 8:36am
50 pips trade missed because i wasn't on my screen at that time, but those who did...
Attached Image (click to enlarge)
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  • #18,023
  • Sep 16, 2024 9:04am Sep 16, 2024 9:04am
Quoting MuniFX
{quote} this is not my understanding, I never saw any of the senior traders trade other than the current h1 candle trigger.. I guess we have to wait for a third person (preferably TooSlow) to confirm the right/wrong way.. kind regards
For HOLO it is the Highest Open/Lowest Open for the day. Use the HOLO indicator provided. Refer to Post #1.

Cheers.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,024
  • Sep 18, 2024 6:10pm Sep 18, 2024 6:10pm
Quoting peaky197
{quote} can you share tpl file? thank you
Sure. Just goto first page and click the icon near top right to see all files posted in thread.

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  • #18,025
  • Sep 23, 2024 12:34am Sep 23, 2024 12:34am
Who is taking the 10 trade challenge the week of SEPTEMBER 22, 2024?

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
  • #18,026
  • Sep 23, 2024 12:35am Sep 23, 2024 12:35am
Quoting peaky197
Is there any way to adjust the spacing of these character and number? Everyone chart looks nice but mine looks so messy, I don't know why. sorry for my english. {image}
It's the resolution of your monitor.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,027
  • Sep 23, 2024 1:21am Sep 23, 2024 1:21am
Quoting peaky197
Is there any way to adjust the spacing of these character and number? Everyone chart looks nice but mine looks so messy, I don't know why. sorry for my english. {image}
Adjusting the Shift Factor setting to something above 0 might help you.

Attached Image (click to enlarge)
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  • #18,028
  • Sep 23, 2024 9:53am Sep 23, 2024 9:53am
Quoting ipop99
So, I feel like I'm missing something, therefore I need your help. The example from below is done on TradingView using replay Opened DAX, it's 9AM for me (London trading session starts at 10AM my time), H1, marked highest and lowest of the day, highest/lowest H1 open {image} According to the rules, now I switch to M15 and wait for some magic to happen between today's high and H1 highest open OR today's low or lowest H1 open. M15 TF, 1h passed, new low of the day, D1[0] low moved a little lower (the hollow candles are H1, the normal candles are M15)...
There is a link on post#1 to a PDF created by user @MichaelG that is very very helpful to understand this concept
  • #18,029
  • Sep 29, 2024 12:58am Sep 29, 2024 12:58am
Who is taking the 10 trade challenge the week of SEPTEMBER 29, 2024?

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
  • #18,030
  • Oct 5, 2024 10:17pm Oct 5, 2024 10:17pm
Who is taking the 10 trade challenge the week of OCTOBER 6, 2024?

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
  • #18,031
  • Edited Oct 7, 2024 5:25am Oct 6, 2024 10:30pm | Edited Oct 7, 2024 5:25am
Hi TooSlow, thanks for sharing your trading strategy. I have a question:

After you opened a trade, if there is a new higher/lower H1 open and your trade is in negative, will you closed the trade and wait for new setup? Or you will let the trade run until it Stop Loss or Take Profit as planned?
  • #18,032
  • Oct 7, 2024 12:25pm Oct 7, 2024 12:25pm
Quoting hksweeper
Hi TooSlow, thanks for sharing your trading strategy. I have a question: After you opened a trade, if there is a new higher/lower H1 open and your trade is in negative, will you closed the trade and wait for new setup? Or you will let the trade run until it Stop Loss or Take Profit as planned?
Trade hasn't stopped out. Price is in area of interest based on what you wrote. If anything, another entry is possible.

Good question, Mate.

Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,033
  • Oct 10, 2024 8:17am Oct 10, 2024 8:17am
Hi TooSlow, as shown in the figure, after today's CPI data release, the EURUSD price fluctuated dramatically up and down within 5 minutes. It first broke below the lowest H1 opening price, then rapidly rose. After reaching a new high for the day and crossing above the highest H1 opening price, it quickly fell back and broke below again. It was too fast, and I couldn't effectively operate according to your trading method... Do you have any good suggestions?
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  • #18,034
  • Oct 11, 2024 12:27am Oct 11, 2024 12:27am
Quoting kangtayr
Hi TooSlow, as shown in the figure, after today's CPI data release, the EURUSD price fluctuated dramatically up and down within 5 minutes. It first broke below the lowest H1 opening price, then rapidly rose. After reaching a new high for the day and crossing above the highest H1 opening price, it quickly fell back and broke below again. It was too fast, and I couldn't effectively operate according to your trading method... Do you have any good suggestions? {image}
Use the HOLO indicator and HOLO template supplied and nothing more.

After you master the method...

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,035
  • Oct 12, 2024 7:34am Oct 12, 2024 7:34am
Quoting TooSlow
{image} {image} HIGHEST OPEN / LOWEST OPEN TRADE Place a line at the highest H1 open and lowest H1 open for the current day. Sell short at the highest H1 open after price goes up through it and comes back down. Buy at the lowest H1 open after price goes down through it and comes back up. Stop loss is the current daily high or current daily low. 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...
Hi TooSlow
Can I ask you something?
What indicator do you use to write the rules lines on the top right of the MT4 screen? Can you share it?
Thank you very much.
Your strategy sounds very simple, and I am also learning about it.
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  • #18,036
  • Oct 12, 2024 7:15pm Oct 12, 2024 7:15pm
Quoting Hasang
{quote} Hi TooSlow Can I ask you something? What indicator do you use to write the rules lines on the top right of the MT4 screen? Can you share it? Thank you very much. Your strategy sounds very simple, and I am also learning about it. {image}
The name is TRO_MYNOTES. And, NO, the coder doesn't want his code posted by others. Search for #advancedalientrading
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,037
  • Oct 12, 2024 7:16pm Oct 12, 2024 7:16pm
Who is taking the 10 trade challenge the week of OCTOBER 13, 2024?

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
  • #18,038
  • Oct 13, 2024 8:23pm Oct 13, 2024 8:23pm
Quoting TooSlow
{quote} Tn l TRO_MYNOTES. V KHNG, người viết m khng muốn m của mnh được người khc đăng. Tm kiếm #advancedalientrading
Yes, thanks for your advice
  • #18,039
  • Oct 14, 2024 9:29am Oct 14, 2024 9:29am
Quoting TooSlow
Who is taking the 10 trade challenge the week of OCTOBER 13, 2024? 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
Hi TooSlow - Firstly thank you for creating such an interesting system and then for sticking with supporting it for 8+ years. That's dedication! I only came across this system a few days ago and started reading at post 1. 18000 posts is some mountain to climb, and whilst I will endeavor to read through the backlog, I've read the instructions / rules (from yourself and MichaelG) and as these are quite clear I wanted to make a start and take on the 10 trade challenge (one pair: EURUSD). Attached is my first trade (20 pips profit). I think I've traded per the rules but would be grateful for your confirmation. My only query is round the breakout. Candle A is a breakout above the then daily high from the 23:00 candle (I'm UK based so take my day open as 22:00 UK time = 5pm NY time). My interpretation of "Trade the [breakout] reversal with caution" is to ignore any entries that would have been triggered by that (15 min) breakout candle and instead wait for the next setup. Candle B was again a breakout, so also ignored. Candle C - not a breakout, opened in the zone of interest and crosses Today's Highest Hourly Open line, triggering a sell trade (green down arrow) which I trailed through your suggested levels to finally be taken out at BE+20 pips (red up arrow). Just want to check if my understanding of how to treat breakouts is correct. Apologies if this has been answered somewhere in the 18000 posts! I intend to post my next 9 trades to meet your challenge!
Attached Image (click to enlarge)
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  • #18,040
  • Oct 14, 2024 3:31pm Oct 14, 2024 3:31pm
Trade no.2 of 10 trade challenge...
Entered long at 15:17. Sharp rise up through BE+5 but then equally sharp reversal to hit BE+1 SL, for 1 pip profit.

Attached Image (click to enlarge)
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Trade no.3
Entered long at 18:39. Good initial momentum but failed to reach first BE+5 milestone before reversing and hitting full stop loss (4.1 pips).

Attached Image (click to enlarge)
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End of day 1 tally (pips):

Trade 1: +20
Trade 2: +1
Trade 3: -4.1
Total: 16.9 pips

I generally track R values, which equates to 4.3R, 0.2R and -1R respectively, for a daily total of 3.5R. Happy with that! Any comments on these trades - especially things I might be doing wrong - gratefully received.
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