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Highest Open / Lowest Open Trade

  • #19,701
  • Feb 11, 2025 11:45am Feb 11, 2025 11:45am
I feel as though I am struggling a bit, when price reverses back into the zone I don't close the trade I let it run until the TP or stop loss gets hit and often it hits the SL.
I tend not to be quick enough to take profit if price only hits 1 or 2 pips
Any advice TooSlow from your experience would be great
  • #19,702
  • Feb 11, 2025 12:12pm Feb 11, 2025 12:12pm
Just follow the rules ! Without warning.
start 14.01.25
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  • #19,703
  • Feb 11, 2025 12:52pm Feb 11, 2025 12:52pm
Quoting Jannah02
I feel as though I am struggling a bit, when price reverses back into the zone I don't close the trade I let it run until the TP or stop loss gets hit and often it hits the SL. I tend not to be quick enough to take profit if price only hits 1 or 2 pips Any advice TooSlow from your experience would be great
Why do you do that?

Set your TP to 2 pips and see what happens.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,704
  • Feb 11, 2025 1:12pm Feb 11, 2025 1:12pm
Quoting TooSlow
{quote} Why do you do that? Set your TP to 2 pips and see what happens.
because I wait to see if price will move back out of the zone
  • #19,705
  • Feb 11, 2025 1:14pm Feb 11, 2025 1:14pm
Quoting TooSlow
{quote} Why do you do that? Set your TP to 2 pips and see what happens.
I will do that, but then what would I do after doing that constantly how will I aim for more pips
  • #19,706
  • Feb 11, 2025 1:19pm Feb 11, 2025 1:19pm
Quoting Jannah02
{quote} I will do that, but then what would I do after doing that constantly how will I aim for more pips
Focus on executing the trade properly. Pips will happen. This is trading - win some, lose some.

Sometimes, I get 2 pips and miss out on more.

Sometimes, I get 2 pips and the price goes the other direction and I get another HOLO opportunity.

Sometimes, I get stopped out.

Sometimes, I win big.

The only outcome I control is how much I lose.

Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,707
  • Feb 11, 2025 1:20pm Feb 11, 2025 1:20pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,708
  • Feb 11, 2025 1:41pm Feb 11, 2025 1:41pm
Quoting TooSlow
{image}
I traded the holo which just occurred on USDJPY with profit of 2 pips
  • #19,709
  • Feb 11, 2025 1:41pm Feb 11, 2025 1:41pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,710
  • Feb 11, 2025 3:26pm Feb 11, 2025 3:26pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,711
  • Feb 11, 2025 4:28pm Feb 11, 2025 4:28pm
Quoting TooSlow
So you have a lot of BE trades then? A few BE+1 trades happen. Better than a loss. No reason to be upset when stopped out for BE+1. Do you use 5 pip BE for all pairs? After trade is +5 pips, stop is moved to BE+1. After trade is +10, stop is moved to BE+5 or trailing stop, or exit part of position. And are there any recomendations which pairs to trade and not to trade? Avoid pairs when spread is over 3 pips. Thanks for the questions, Dezil.
"Avoid pairs when spread is over 3 pips."
Does this still apply for today?
  • #19,712
  • Feb 11, 2025 6:52pm Feb 11, 2025 6:52pm
Quoting Jannah02
{quote} "Avoid pairs when spread is over 3 pips." Does this still apply for today?
Yes, Mate.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,713
  • Feb 12, 2025 2:07am Feb 12, 2025 2:07am
Quoting TooSlow
{quote} How many 10 trade challenges have you completed? Have you mastered HOLO?
For sake of truth any yet ...
  • #19,714
  • Edited 6:51am Feb 12, 2025 6:37am | Edited 6:51am
[quote=Igumapips;15145737]{quote} .
The reason I ask is that I always place my trade using Pending Order (Buy Stop or Sell Stop) when the price hits the current open at the setup but I noticed that
Many a time, my trade will trigger and go against me and sometimes the price will not get to my Pending Order (Buy Stop or Sell Stop) maybe a few pips away my Broker will trigger the position and it will hit my Stop Loss.
It happened to me again yesterday.

Hi Mate.
Obviously, I don't know .....how much you know.....so please forgive me if you already know this, but it might explain why you think your broker is triggering orders when price doesn't look like it got near your entry price.

Firstly you need to know about the BID and ASK prices.
Please refer to the drawing below.
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In a BULLISH candle, the ASK price is always ahead of the BID price.
Most brokers (if not all) will show candles with the BID price as the candle HIGH. (not the ASK price). The gap between those prices is the spread.
In a BEARISH candle, the BID price will be shown as the candle LOW. The ASK price will again be higher and the gap between will depend on the brokers spread.

You are using two entry types. BUY stop and SELL stop.

BUY STOP ORDERS.
Please refer to the drawing below.
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Please look at Candle A.
In a BUY trade, it is the ASK price that will trigger your trade entry price.
Please look at candle B.
In a BUY trade, your TAKE PROFIT price will be hit when the BID price reaches that price. (NOT the ASK price)
Please look at candle C.
IF price goes against your Buy trade and hits your STOP LOSS it will be taken out by the BID price. (NOT the ASK price)

SELL STOP ORDERS.
Please refer to the drawing below.
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Please look at candle D.
In a SELL trade, it is the BID price that will trigger your trade entry price.
Please look at candle E.
In a SELL trade, your TAKE PROFIT will be hit when the ASK price reaches that price level. (NOT the BID price)
Please look at candle F.
If price goes against your Sell trade and hits your STOP LOSS it will be taken out by the ASK price. (NOT the BID price)

I hope that has helped and again my apologies if you already know that.
Cheers
Michael
  • #19,715
  • Feb 12, 2025 6:48am Feb 12, 2025 6:48am
It would be good a video of this system, anyone?
  • #19,716
  • Feb 12, 2025 7:05am Feb 12, 2025 7:05am
Quoting chiche
It would be good a video of this system, anyone?
on YT type HOLO
  • #19,717
  • Feb 12, 2025 7:55am Feb 12, 2025 7:55am
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“Now, 2 patterns of market behavior happen on a regular basis:
1) the price breaks to new high's (or low's)
2) the price reverses from new high's (or low's)
They happen regardless of time frame.
They are phenomena that can be exploited without the fear if found out by others, that they might cease to exist.” - H. Rearden


Price Action #advancedalientrading

1) Price will either breakout of the high, low or both of the previous bar
2) Price will not breakout of the previous bar.
3) Price will either close above a level (line) or not.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,718
  • Feb 12, 2025 7:55am Feb 12, 2025 7:55am
Quoting MichaelG
Quoting Igumapips
{quote} . The reason I ask is that I always place my trade using Pending Order (Buy Stop or Sell Stop) when the price hits the current open at the setup but I noticed that Many a time, my trade will trigger and go against me and sometimes the price will not get to my Pending Order (Buy Stop or Sell Stop) maybe a few pips away my Broker will trigger the position and it will hit my Stop Loss. It happened to me again yesterday. Hi Mate. Obviously, I don't know .....how much you know.....so please forgive me if you already
...

MichaelG, thank you so much for this knowledge.
My broker has three accounts, the one that is called the Raw Spread does not trigger pending orders and hunt stop loss but they charge commission on it and it is zero spread
It is the other account that is called the Standard account which triggers pending orders and hunt stop loss but they don't charge commission. This one is not zero spread.
I use the Standard account to avoid the commission charges.
I use Exness Broker
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  • #19,719
  • Feb 12, 2025 8:00am Feb 12, 2025 8:00am
Quoting Jannah02
{quote} on YT type HOLO
#advancedalientrading holo
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,720
  • Feb 12, 2025 8:17am Feb 12, 2025 8:17am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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