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Highest Open / Lowest Open Trade

  • #20,121
  • Edited 2:14am Apr 1, 2025 1:08am | Edited 2:14am
Quoting TooSlow
You had the opportunity to take 1, 2 or 3 pips.
It would be rules bending.
Quoting TooSlow
Why didn't you exit with a tiny profit?
Because post#1 rule is:
Quoting TooSlow
When trade is +5 or more, move stop to BE+1
.
Quoting TooSlow
Better to post the WHOLE CHART rather than a snippet.
I've posted both.
Quoting TooSlow
Trade 2 had a lower high than trade 1. What does that suggest?
Based on post#1 rules - nothing
Quoting TooSlow
Price made a lower low BEFORE Trade 3 triggered. What does that suggest?
Here, yes, I understand now - new current TF breakdown = no trade.

Thank you for your time and attention!
Just an opinion. Based on research
  • #20,122
  • Edited 2:42am Apr 1, 2025 1:19am | Edited 2:42am
Quoting TooSlow
Why are you looking at different pairs rather than focussing on one pair?
Because this way I catch more interesting trading situations in less time to search in the thread (or to ask the author)
Quoting TooSlow
Are you taking the 10 trade challenge or not?
Yes and yes again
I tried your strategy several years ago, went through 2 challenges, found that this style of trading was not for my nerves But I'm still strongly interested in it and feel comfortable with it now. So now I try to get some details and when I can't find them by search I kindly ask here.
Quoting TooSlow
How many of the 500+ pages have you read?
I've read them all and also I use search. So please believe me, if I ask something I do a work before.
Now will you be so kind to help me to understand the situation in this case https://www.forexfactory.com/thread/...4#post15199344 ?
Thank you for your time and attention!
Just an opinion. Based on research
  • #20,123
  • Edited 2:06am Apr 1, 2025 1:41am | Edited 2:06am
Quoting TooSlow
The next candle went up but failed to make a higher high and was screaming, "GET OUT"!
Ok, I'm ready to get it but
Read the rules.
Just follow the rules.
Do not add anything to the rules.
I'm no trying to prick you but
I HAVE READ POST #1 AND THE EXAMPLE LINKS BUT I STILL HAVE A QUESTION
what part of the rules describes that "GET OUT" situation?
.
Compiling my "out of post#1" questions, please, help:
Attached Image (click to enlarge)
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Trade #1: the 3rd green candle goes against me, not making new low but not taking BE+1 zone of 5 pips - do I have to exit? (If I understand the post#1 right I wait till SL or TP)

Trade #2: the 1st trade is still open but it's not the same current TF candle but price went higher but it's not a breakup. Do I have to enter? (If I understand the post#1 right - yes, I have to)
Just an opinion. Based on research
  • #20,124
  • Edited 2:59am Apr 1, 2025 2:48am | Edited 2:59am
Quoting TooSlow
Who is taking the 10 trade challenge the week of March 30, 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
If you think it would be more kind by my side, please, let me join it again (sorry, not from the first day) and elaborate.
/
UJ m5 sell +1 pip
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initial SL was at the current day high.
SL moved to BE+1 after 5 pips in my direction.
Attached Image (click to enlarge)
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Stopped at BE+1
Just an opinion. Based on research
  • #20,125
  • Apr 1, 2025 7:49am Apr 1, 2025 7:49am
Hi TS with reference to the chart below the current bar is closing in 1min time. If the next bar opens within the zone which is likely would it be wrong to set a pending order at the lower open. Even though I believe the rules are met for a setup, I keep seeing within your post about dancing with the markets, I'm trying to grasp what that means. For me that means I should be careful of those currents lows to the left. But doing that puts me back in my old frame of mind.
Subsequently the next 2 5min bars took off, just interested to gauge what your thinking would of been with this scenario not knowing what happened to the chart to the right.

Really want to thankyou for staying with this thread and supporting us for so long and I'm happy I found it.
Attached Image (click to enlarge)
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  • #20,126
  • Edited 9:58am Apr 1, 2025 9:43am | Edited 9:58am
Quoting LucasFX7
If it is the case of an H1 candle, we should wait for the next hour to start thinking about a trade
I understood this rule the same and missed lots of entries on M5. But
Quoting TooSlow
{image}
I was wrong
Just an opinion. Based on research
  • #20,127
  • Apr 2, 2025 12:11am Apr 2, 2025 12:11am
Quoting since80808
{quote} Ok, I'm ready to get it but Read the rules. Just follow the rules. Do not add anything to the rules. I'm no trying to prick you but I HAVE READ POST #1 AND THE EXAMPLE LINKS BUT I STILL HAVE A QUESTION what part of the rules describes that "GET OUT" situation? . Compiling my "out of post#1" questions, please, help: {image} Trade #1: the 3rd green candle goes against me, not making new low but not taking BE+1 zone of 5 pips - do I have to exit? (If I understand the post#1 right I wait till SL or TP) Trade #2: the 1st trade is still open but...
Trading involves risk and luck because you can not control the outcome. You can control the maximum amount you lose by setting your stop loss. You can not make the market move in your favor after you enter.

Some traders will succeed with HOLO.

Some traders will fail with HOLO.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #20,128
  • Apr 2, 2025 1:27am Apr 2, 2025 1:27am
Quoting Snirodha
{quote} Trade 2 + 7.5 {image}
3rd trade. -3 pips. Had opportunity to exit at +1 but greed took over.
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  • #20,129
  • Apr 2, 2025 2:33am Apr 2, 2025 2:33am
Quoting Crows
I'm still wrapping my head around this I'm trying to go through the thread slowly, I'm only on page 150 so at this rate maybe I should be done in a cuppla months. Just for clarity I have posted this 15min chart the current bar made a new high it opened in the AOI so based on the rules we should trade this with cautious or skip trade? I'm awake during the Asian market so its not unusual that the pairs I'm looking to trade either make new highs or low so its best to wait until market settles down before we actively look for trades? I'v been practicing...
Hi Crows and welcome from a fellow Aussie.
If I may point out a couple of things.....
Please refer to the chart below.
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Firstly, let me take you through the lead up to the trade you were looking at.
AT THAT TIME, candle A had made the High of the day.
Then candle B opened and printed the Highest H1 OPEN for the day so far.
So the Area Of Interest (AOI) AT THAT TIME was between the Day's High (candle A) and the Highest H1 open (candle B).
So you are now looking for an M15 candle to OPEN in the AOI to validate a potential entry/trade.
Candle C on your chart "appears" to have opened either on or below the Highest H1 open and it looks like price immediately dropped, therefore not giving you a chance to get on.
Candle D ALSO opened in the AOI and probably would have triggered a trade but it would have probably ended as a loss.
BUT of importance, is that candle D THEN went on to make a NEW DAILY HIGH. In doing so, you would have seen the ALERT on the left of screen.
What that is telling you is that there are no longer any opportunities for the rest of that current hour.

When candle E opened, it printed the NEW Highest H1 OPEN. So your NEW AOI is between the New day's High (candle D at that time) and the NEW Highest H1 open (candle E)
So again, you are looking for an M15 candle to open in the AOI to validate a trade entry.
BUT, candle E ruined the party when it made a NEW Daily High.....and again, you would have seen the warning on left of screen.
That "breakout" means that for the remainder of THAT hour, there will be NO valid trade set ups.
And as you can see, candles F, G and H all went on to make NEW daily Highs.
As soon as a new daily high is made, the AOI is no longer valid so that's why the "Breakout" warning comes up.

You will also see "Breakout" warnings when the Previous Days Highs and Lows have been taken out.
The message will be "Trade with caution" simply because IF the previous day's high is taken out....then there is a possibility that price will continue in a bullish fashion and as TooSlow allways suggest....You don't want to be standing in front of a freight train.

Just a side note if I may...
This is the AUDNZD that you are trading. For me, I like to look for a bit of "value" in what pairs I trade. What I mean there is that the two currencies are just about at parity. Similar to the AUDJPY. So it's almost like an Ëven Money" bet on the horses. I prefer something like the AUDUSD so that your return is a bit better then even money. Just my opinion which doesn't mean very much. Just ask my Wife
Anyway, hope that helps Mate. Cheers
Michael
  • #20,130
  • Apr 2, 2025 3:02am Apr 2, 2025 3:02am
Reading, re-reading and seacrhing I still can not understand how to decide about the second, 3rd, next trades in the same area of interest like this. Will be thankful for the more experienced HOLO traders help.
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(Just enter one by one "just following the rules" and knowing the winrate of the solid strategy? Or have we got some formal filter?)
Just an opinion. Based on research
  • #20,131
  • Apr 2, 2025 3:37am Apr 2, 2025 3:37am
(out of challenge) AUDUSD M5 sell -3 pips
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Just an opinion. Based on research
  • #20,132
  • Apr 2, 2025 4:56am Apr 2, 2025 4:56am
(out of challenge) EURUSD M5 sell -9 pips
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Just an opinion. Based on research
  • #20,133
  • Edited 5:14am Apr 2, 2025 4:58am | Edited 5:14am
no trade = no loss ))
Usdjpy M5
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What rule had to suggest not to take a sell trade here?
Just an opinion. Based on research
  • #20,134
  • Apr 2, 2025 5:03am Apr 2, 2025 5:03am
Quoting since80808
no trade = no loss )) {image} What rule had to suggest not to take a sell trade here?
What pair is it and what time frame are you looking at Mate ?
  • #20,135
  • Apr 2, 2025 5:13am Apr 2, 2025 5:13am
Quoting MichaelG
{quote} What pair is it and what time frame are you looking at Mate ?
oh, sorry, my fault
USDJPY
M5
Just an opinion. Based on research
  • #20,136
  • Apr 2, 2025 5:59am Apr 2, 2025 5:59am
Quoting since80808
{quote}oh, sorry, my fault USDJPY M5
Okay Mate. If I may, I'll get back to you tomorrow. Getting a bit late here and apparently I have other things to do according to my Wonderful Wife
  • #20,137
  • Edited 6:58am Apr 2, 2025 6:23am | Edited 6:58am
HI

I believe I already sent an request to this thread to be able to participate in this Forex Trading ! But I have not heard back so who may I communicate with to know what excatly I need to do and if I need to download anything that will help me in my trading !

my email addrss is { email address deleted by staff }

Thanks

P
  • #20,138
  • Apr 2, 2025 6:38am Apr 2, 2025 6:38am
Quoting MichaelG
{quote} Okay Mate. If I may, I'll get back to you tomorrow. Getting a bit late here and apparently I have other things to do according to my Wonderful Wife
My best wishes to you and your Family
Will be realy thankful if you be able to help me with this and several other my hesitations I posted here these days
Just an opinion. Based on research
  • #20,139
  • Apr 2, 2025 7:21am Apr 2, 2025 7:21am
Quoting since80808
no trade = no loss )) Usdjpy M5 {image} What rule had to suggest not to take a sell trade here?
You are not following the rule of the challenge. Only trade one pair until you have mastered HOLO.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #20,140
  • Apr 2, 2025 7:22am Apr 2, 2025 7:22am
Quoting TooSlow
{quote} You are not following the rule of the challenge. Only trade one pair until you have mastered HOLO.
Why not? I started UJ and this is the situation with UJ
Just an opinion. Based on research
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