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Highest Open / Lowest Open Trade

  • #18,201
  • Nov 22, 2024 6:41am Nov 22, 2024 6:41am
Quoting vladleb
{quote} Thank you very much! A very motivating and encouraging UT channel. But there are no examples of live trading using this system. Please anybody post screenshots of several trades with this system on two timeframes, first on H1 and the same trade on m5. But on a clean charts without lines and labels, just show where you entered and where you exited on H1 and of the same trade on m5. It seems to me that this is not difficult at all. Thank you in advance.
Mate, to learn how to swim you have to get wet. You can watch all the swimming videos but you still have to get in the water yourself in order to learn. Same with trading.

Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,202
  • Nov 22, 2024 6:46am Nov 22, 2024 6:46am
Quoting vladleb
{quote} Do I understand correctly that according to the HoLo strategy, there were no valid trades on the USDJPY pair?
Could have had a profitable trade here
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  • #18,203
  • Nov 22, 2024 7:16am Nov 22, 2024 7:16am
Quoting TooSlow
{quote} Mate, to learn how to swim you have to get wet. You can watch all the swimming videos but you still have to get in the water yourself in order to learn. Same with trading. Cheers!
Dear TooSlow, of course you are right)) I'll be honest with you and admit that I've been soaked for a long time and even drowned many times, so I'm trying to figure out how you manage to swim when most of the people around are going down)))
Thank you so much for your work and support on this forum.
  • #18,204
  • Edited 9:39am Nov 22, 2024 8:33am | Edited 9:39am
Waiting
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Patience
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Just missed a good setup, price didn't close within our range unfortunately. Plenty more setups
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  • #18,205
  • Nov 22, 2024 10:09am Nov 22, 2024 10:09am
Quoting MachineLearn
Waiting {image} Patience {image} Just missed a good setup, price didn't close within our range unfortunately. Plenty more setups {image}
Too focused on USDCHF, missed AUDCHF setup. Price closed above HO while over extended went for an easy 2R.
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  • #18,206
  • Nov 22, 2024 11:34am Nov 22, 2024 11:34am
What are some other options for determinng ideal market conditions for HOLO? ADR and concepts around that is great, but what about a simple Bollinger Band setup with a period of 200. Gives a clear picture of markets that could potentially be at their top or bottom.
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  • #18,207
  • Nov 22, 2024 12:09pm Nov 22, 2024 12:09pm
Quoting MachineLearn
What are some other options for determinng ideal market conditions for HOLO? ADR and concepts around that is great, but what about a simple Bollinger Band setup with a period of 200. Gives a clear picture of markets that could potentially be at their top or bottom.
ML, I played around trying to fine tune and zero in on areas of probability for HOLO. I mentioned to TooSlow my attempts at this, BUT , I came to the personal conclusion that I was detracting and “sabotaging” the purity of the HOLO process.
I follow your input on FF and understand your inquiring mind and drilling down into trading systems and concepts, seeking to improve trade performance .
HOLO is a process I’ve found that is best to just rinse and repeat.
The highest or lowest open provides POI, the opening of your TF candle in this area and price back through this relevant open provides momentum, and the money management provides the essential “security” to the trade and harvesting of pips.
HOLO may not be sexy but it delivers if one is patient
Apologies for the longish post and really not providing what you were seeking, but just providing some personal perspective from someone that trades it.
Cheers
  • #18,208
  • Nov 22, 2024 12:50pm Nov 22, 2024 12:50pm
Quoting DwnUndrTrdr
{quote} I played around trying to fine tune and zero in on areas of probability for HOLO. I mentioned to TooSlow my attempts at this, BUT , I came to the personal conclusion that I was detracting and “sabotaging” the purity of the HOLO process.
Great point about the purity of the HOLO process!

I use HOLO to trade CL, and I have found that the easiest way to for me to trade the method is to simply watch hourly candles, and I keep a yellow line on my chart at the current highest open and another at the current lowest open. Like TooSlow I trade the US session so I've never had the issue with trying to find a trade after just one hourly candle. I do not drill down to smaller bar intervals like M5 or M1. I mark the current HOLO levels, and then wait for price to make a test of the daily high or daily low. As an example, for a long, price doesn't have to get all the way to the daily low, but it needs to trade below the LO level. Once it does, I'll put a buy stop at the LO level. For CL I usually set a SL at -25 ticks and a TP at +50 ticks. On the chart below, the US hours are noted by the vertical highlight which is the 60 minute candle that closes at 8AM eastern. I usually am ready to go by the close of that candle.

This is a very simple method and I see a lot of people here overcomplicating it. Some of the problem might be that the average daily range of many of the forex pairs has reduced trading even the hourly candles to a 5 to 10 pip scalping exercise.

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Life itself is a privilege, but to live life to the fullest is a choice
  • #18,209
  • Nov 22, 2024 12:58pm Nov 22, 2024 12:58pm
Quoting DwnUndrTrdr
{quote} ML, I played around trying to fine tune and zero in on areas of probability for HOLO. I mentioned to TooSlow my attempts at this, BUT , I came to the personal conclusion that I was detracting and “sabotaging” the purity of the HOLO process. I follow your input on FF and understand your inquiring mind and drilling down into trading systems and concepts, seeking to improve trade performance . HOLO is a process I’ve found that is best to just rinse and repeat. The highest or lowest open provides POI, the opening of your TF...
Appreciate your kind words. I 100% agree with you and definitely have kept simplicity in mind when brainstorming concepts around finding efficient areas to enter HOLO trades.

TooSlow himself validated that ADR and similar concepts could provide an advantage. I don't want to over correct or over complicate the beauty of this system and that's why I started observing Bollinger Bands. A simple and intuitive indicator that with some minor tweaks could provide tremendous insight into market conditions. I really didn't like the idea of using market sessions, or specific time of days for finding opportunities. That's why I've been contributing because there's definitely untapped potential. For now, I find traders have more than enough tools to find opportune entries whether it's after asian session, ADR ranges, Bollinger Bands, or whatever else. I won't harp on this concept any more and focus on the idea you touched on which is rinse and repeat. I'll stick with BB for now and continue updating my trades
  • #18,210
  • Nov 22, 2024 1:00pm Nov 22, 2024 1:00pm
Quoting vidvad
{quote} Great point about the purity of the HOLO process! I use HOLO to trade CL, and I have found that the easiest way to for me to trade the method is to simply watch hourly candles, and I keep a yellow line on my chart at the current highest open and another at the current lowest open. Like TooSlow I trade the US session so I've never had the issue with trying to find a trade after just one hourly candle. I do not drill down to smaller bar intervals like M5 or M1. I mark the current HOLO levels, and then wait for price to make a test of the daily...
I like this style too, but this thread seems hyper sensitive to alterations of the core rules. Your system kind of negates some of these core principles all though similar in theory.
  • #18,211
  • Nov 22, 2024 1:10pm Nov 22, 2024 1:10pm
Quoting vidvad
{quote} Great point about the purity of the HOLO process! I use HOLO to trade CL, and I have found that the easiest way to for me to trade the method is to simply watch hourly candles, and I keep a yellow line on my chart at the current highest open and another at the current lowest open. Like TooSlow I trade the US session so I've never had the issue with trying to find a trade after just one hourly candle. I do not drill down to smaller bar intervals like M5 or M1. I mark the current HOLO levels, and then wait for price to make a test of the daily...
What if prices breaks the low or high of the day aggressively, same thing? Not going to lie this is a thousand times simpler.
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  • #18,212
  • Nov 22, 2024 1:55pm Nov 22, 2024 1:55pm
Quoting MachineLearn
{quote} What if prices breaks the low or high of the day aggressively, same thing? Not going to lie this is a thousand times simpler. {image}
The only time I would back off on an entry is if price broke and held above the previous day's high or below the previous day's low. As TooSlow says, that is "breakout mode." HOLO is a reversal strategy, so when the market is breaking out, then reversals should be traded with caution.

But if price makes a new high and then comes back through the HO or the LO, those are often the best trades. Those I would consider "2B's" per Trader Vic. A stop run that traps breakout traders into the market while reversing back.

I suppose you mean that the large green candle broke the HOD "aggressively"? For me it wouldn't have changed a thing. That would have been a HOLO short for me on that chart. I trade the 6J futures which is the same market (USD/JPY, but it is priced inversely, so it would have been a long for me on the 6J futures contract.

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Life itself is a privilege, but to live life to the fullest is a choice
  • #18,213
  • Nov 22, 2024 1:56pm Nov 22, 2024 1:56pm
Quoting vidvad
{quote} The only time I would back off on an entry is if price broke and held above the previous day's high or below the previous day's low. As TooSlow says, that is "breakout mode." HOLO is a reversal strategy, so when the market is breaking out, then reversals should be traded with caution. But if price makes a new high and then comes back through the HO or the LO, those are often the best trades. Those I would consider "2B's" per Trader Vic. A stop run that traps breakout traders into the market while reversing back. I suppose you mean that the...
Perfect clarity, thanks for your explanation. Maybe I'll take some trades on your thread
  • #18,214
  • Nov 22, 2024 2:00pm Nov 22, 2024 2:00pm
Quoting MachineLearn
{quote} I like this style too, but this thread seems hyper sensitive to alterations of the core rules. Your system kind of negates some of these core principles all though similar in theory.
Guess it’s about making it your own once you have mastered the process. The message on this thread in my opinion is sticking to the process, trusting it and rinse and repeating.
I will take a trade based on HOLO principles and monitor this POI. If I then see another trade present according to another entry system I have I will add another position..
  • #18,215
  • Nov 22, 2024 2:09pm Nov 22, 2024 2:09pm
From TooSLow's post #1:

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No need to make it any more complicated than that, imho.
Life itself is a privilege, but to live life to the fullest is a choice
  • #18,216
  • Nov 22, 2024 6:41pm Nov 22, 2024 6:41pm
BTC
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  • #18,217
  • Nov 22, 2024 11:18pm Nov 22, 2024 11:18pm
Quoting MachineLearn
BTC {image}
HOLO can also be a 1-2-3
  • #18,218
  • Nov 23, 2024 12:14am Nov 23, 2024 12:14am
QUESTION

price breaks the 2nd candle open and return back to open of the 2nd candle.
Is this trade still valid to place a sell position?

I switch to M15 and M5, I noticed that candle closed below the open of the 2nd candle.
If the trade is still valid can one take the trade as candle in the lower time frame close below the open of the 2nd candle?
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  • #18,219
  • Nov 23, 2024 5:54am Nov 23, 2024 5:54am
Quoting Igumapips
QUESTION price breaks the 2nd candle open and return back to open of the 2nd candle. Is this trade still valid to place a sell position? I switch to M15 and M5, I noticed that candle closed below the open of the 2nd candle. If the trade is still valid can one take the trade as candle in the lower time frame close below the open of the 2nd candle? {image} {image} {image}
I don't really understand what you are asking and I think that might indicate that you are making this more complicated than it was originally intended to be. The green line is the daily open. If I had taken HOLO short entries on this pair on this day, and I had not had my take profit order filled, I would have stopped out of the trade when price rose back up through the daily open. I also would plot the previous day's close, as well as the previous day's high and low, and I'd use those levels as profit targets or trailing stop levels.
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Life itself is a privilege, but to live life to the fullest is a choice
  • #18,220
  • Nov 23, 2024 11:36am Nov 23, 2024 11:36am
Quoting vidvad
{quote} I don't really understand what you are asking and I think that might indicate that you are making this more complicated than it was originally intended to be. The green line is the daily open. If I had taken HOLO short entries on this pair on this day, and I had not had my take profit order filled, I would have stopped out of the trade when price rose back up through the daily open. I also would plot the previous day's close, as well as the previous day's high and low, and I'd use those levels as profit targets or trailing stop levels. {image}...
You don't answer the question you did not understand.
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