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Highest Open / Lowest Open Trade

  • #19,841
  • Feb 26, 2025 2:20am Feb 26, 2025 2:20am
+5 USDJPY, price stalled so moved to breakeven +5 and got taken out.
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  • #19,842
  • Feb 26, 2025 4:41am Feb 26, 2025 4:41am
Quoting Malkolm
{quote} Input 6: +13.1 Set a “record” in pips by entering for several reasons: 1) ATR 121%. High probability of reversal. 2) Price just broke the Low of the previous day. 3) Low opening M30 of the current day. How I entered: I waited for the price on M1 to open below the M30 opening low of the current day, NOT having updated the low of the day. Then, trailed stop loss on M1, then, when M5 formed, moved the stop to the M5 low, then exited at the low of the red candle M1 It is worth working on the exit strategy, but I am glad that I took so many pips...
Entry 7-9: +15


Today the market was “giving away” pips
entry at (1/3/5), exit at (2/4/6)
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  • #19,843
  • Feb 26, 2025 5:19am Feb 26, 2025 5:19am
Quoting Malkolm
{quote} Entry 7-9: +15 Today the market was “giving away” pips entry at (1/3/5), exit at (2/4/6) {image}
No. You took pips when you had the opportunity.

Well done, Mate.

Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,844
  • Edited 4:43pm Feb 26, 2025 4:14pm | Edited 4:43pm
Out of all the systems, this system keeps enduring. Congrats TooSlow.

So I'm giving this all a serious look and decided to make the instructions more clear and ask if I got it right:

HOLO Trading Strategy by TooSlow
HOLO (Highest Open/Lowest Open) is a trading strategy that identifies potential reversal points using the extreme opening prices of H1 (1-hour) candles within a trading day. Here's how it works:

Core Concept
The strategy focuses on the highest and lowest opening prices of H1 candles during a 24-hour trading day (which closes at 5PM New York time). These extreme opening prices serve as key support/resistance levels for trading opportunities.

Trade Setup
For Sell Trades:

  1. Identify the "Area of Interest" between:

    1. Current day's Highest H1 Open price (bottom boundary)
    2. Current day's High price (top boundary)


  2. Wait for a candle to OPEN within this area
  3. When price moves back down to the Highest H1 Open price, enter a SELL trade when the BID price crosses this level

For Buy Trades:

  1. Identify the "Area of Interest" between:

    1. Current day's Lowest H1 Open price (top boundary)
    2. Current day's Low price (bottom boundary)


  2. Wait for a candle to OPEN within this area
  3. When price moves back up to the Lowest H1 Open price, enter a BUY trade when the ASK price crosses this level

Key Rules

  1. NO late entries - not even by 1 pip
  2. No entry on H1, M15, or M5 breakout bars
  3. The M5 bar must open between H1 open and extreme
  4. One trade per bar
  5. DO NOT wait for the bar to close to enter
  6. SELL at Highest Open / BUY at Lowest Open
  7. Use caution with reversals from breakouts
  8. Avoid trading against strong trends ("freight trains")

Trade Management

  1. Move stop loss to Break Even + 1 pip when the trade is +5 pips profitable

    1. For SELL trades: Use ASK price to determine this level
    2. For BUY trades: Use BID price to determine this level


  2. Consider moving to BE+5 when the trade is +10 pips profitable
  3. Optional strategies include:

    1. Using trailing stops
    2. Taking partial profits at predetermined levels
    3. Exiting at specific profit targets



Timeframe Flexibility

  1. You can use M30, M15, M5, or M1 as your "trigger timeframe" based on your availability and preferences. The levels remain the same regardless of which timeframe you use.
  2. This strategy aims to capitalize on price reversals from the extreme H1 opening prices, with strict entry rules and risk management to limit losses and secure profits.

  • #19,845
  • Feb 26, 2025 10:17pm Feb 26, 2025 10:17pm
USDJPY +5 Taking what I can get
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  • #19,846
  • Feb 27, 2025 1:25am Feb 27, 2025 1:25am
Quoting Malkolm
{quote} Entry 7-9: +15 Today the market was “giving away” pips entry at (1/3/5), exit at (2/4/6) {image}

Entry 10: +5

ATR: 73%, price at previous day's high + M5 high opening failed to breach H1 high opening > Entry (1)

Total: +45
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  • #19,847
  • Feb 27, 2025 1:44am Feb 27, 2025 1:44am
Quoting Malkolm
{quote} Entry 10: +5 ATR: 73%, price at previous day's high + M5 high opening failed to breach H1 high opening > Entry (1) Total: +45 {image}
Banger!
  • #19,848
  • Feb 27, 2025 1:58am Feb 27, 2025 1:58am
Quoting Verb
{quote} Banger!
This is my 4th trade chellenge and all of them have closed at +


It is important to follow the rules and not to be greedy

I immediately started the 1st trading challenge with this thought that it is better to take small pips (+5) from the table and leave the market than to turn +5 into -10 because of my greed.

It's psychologically easier for me, “it's better slowly, but constantly”
  • #19,849
  • Feb 27, 2025 2:04am Feb 27, 2025 2:04am
Quoting Malkolm
{quote} This is my 4th trade chellenge and all of them have closed at + It is important to follow the rules and not to be greedy I immediately started the 1st trading challenge with this thought that it is better to take small pips (+5) from the table and leave the market than to turn +5 into -10 because of my greed. It's psychologically easier for me, “it's better slowly, but constantly”
The advantage of the strategy is that it gives a statistically probable reversal zone, and closing take 5 pips is more likely than 150 pips



But the advantage of forex is that 50 pips can be either 0.5$ or 500$

This is quite enough, as TooSlow has already pointed out


I keep practicing until entering a trade evokes bathroom tile level emotions (none)

Then, gradually increase the lotness of the trade
  • #19,850
  • Feb 27, 2025 2:34pm Feb 27, 2025 2:34pm
Quoting Verb
Out of all the systems, this system keeps enduring. Congrats TooSlow. So I'm giving this all a serious look and decided to make the instructions more clear and ask if I got it right: HOLO Trading Strategy by TooSlow HOLO (Highest Open/Lowest Open) is a trading strategy that identifies potential reversal points using the extreme opening prices of H1 (1-hour) candles within a trading day. Here's how it works: Core Concept The strategy focuses on the highest and lowest opening prices of H1 candles during a 24-hour trading day (which closes at 5PM New...
There is no mention of support/resistance in HOLO. Those are concepts which are not real. Empty your mind if you want to learn HOLO.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,851
  • Feb 27, 2025 3:49pm Feb 27, 2025 3:49pm
Quoting TooSlow
{quote} There is no mention of support/resistance in HOLO. Those are concepts which are not real. Empty your mind if you want to learn HOLO.
Got it.
  • #19,852
  • Feb 28, 2025 1:36am Feb 28, 2025 1:36am
+10 USDJPY 3 wins in a row now, climbing out of the hole slowly
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  • #19,853
  • Feb 28, 2025 7:05am Feb 28, 2025 7:05am
+ several
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  • #19,854
  • Feb 28, 2025 4:17pm Feb 28, 2025 4:17pm
Who is taking the 10 trade challenge the week of March 2, 2025?

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
  • #19,855
  • Mar 2, 2025 9:19pm Mar 2, 2025 9:19pm
+5.5 ...
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  • #19,856
  • Mar 2, 2025 10:58pm Mar 2, 2025 10:58pm
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  • #19,857
  • Mar 3, 2025 5:45am Mar 3, 2025 5:45am
Quoting TooSlow
Who is taking the 10 trade challenge the week of March 2, 2025? 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
Entry #1: -6 (at point "1", stoploss at point "2")

Entry #2: +5 (re-entry at point "3", take profit at point "4")
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  • #19,858
  • Mar 3, 2025 8:50am Mar 3, 2025 8:50am
Quoting Malkolm
{quote} Entry #1: -6 (at point "1", stoploss at point "2") Entry #2: +5 (re-entry at point "3", take profit at point "4") {image}
Entry #3: +5
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  • #19,859
  • Mar 3, 2025 11:07am Mar 3, 2025 11:07am
Quoting Malkolm
{quote} Entry #3: +5 {image}
Entry #4: +5
Entry #5: +5

The same pattern as in the previous trading challenge
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  • #19,860
  • Mar 3, 2025 5:37pm Mar 3, 2025 5:37pm
Quoting Malkolm
{quote} Entry #4: +5 Entry #5: +5 The same pattern as in the previous trading challenge {image}
How does it feel to take 5 pips over and over?

When you can trade $100 a pip, all you will need is one win a day.

Good job, Mate.

Cheers.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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