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Higher low, lower high system

  • #221
  • Oct 21, 2008 12:32am Oct 21, 2008 12:32am
Fairly quiet this am so I was happy to take this trade and be out with 20 pips. 1hr candles showing down, 5 min was showing a lh, entry off 1 min lh.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ej 5.gif Size: 10 KB
Click to Enlarge Name: ej 1.gif Size: 8 KB
  • #222
  • Edited 10:56pm Oct 22, 2008 2:55am | Edited 10:56pm
First trade of the day was a lh failure at 128.00 (the trade worked I mean the fall below 128).

I was so focused on selling I missed the hl on gu on 5 min chart at 1.6250.

Sold gu failure lh at 1.6350 and got out (too early) at 1.6304. This trade happened so quick in and out I didn't save pic of sell level.

I'll be out until after UK news.
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  • #223
  • Edited 10:54pm Oct 22, 2008 10:39pm | Edited 10:54pm
Sold ej lh, due to the support at 124.50 and M2 I waited a few pips for that level to break.

If we can break below Y's low could be a big move down.

Exited at 123.50 for +92, you can only go so far at this time of day.
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  • #224
  • Oct 23, 2008 2:32am Oct 23, 2008 2:32am
Ej hl bounce off 123.50, I wasn't a believer due to the amount of the downtrend. After the hl there are two small red candles, both provided opportunities to buy off 1 min, I still wasn't a believer, that was a mistake.

I did take the lh sell, trailing stop took me out at +48.
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  • #225
  • Oct 23, 2008 2:57am Oct 23, 2008 2:57am
If you don't quite fancy this way of trading hl's, lh's have a look at sonicdeejay's thread http://www.forexfactory.com/showthread.php?t=114792
  • #226
  • Oct 23, 2008 3:08am Oct 23, 2008 3:08am
Also Harold4x's the key to the mint has some interesting points http://www.forexfactory.com/showthread.php?t=57116 have a look around see what grabs your fancy. There are aspects of Harold4x that I like and some that I don't.

I do like the idea of using the Stoch DiNapoli on the 5 min waiting for a crossing and using 1 min 34 ema slope for entries.

Buys = 5 min stoch cross up. 1 min entry hl with 34 ema slope 45 degrees (approx) up (think of 45 degrees up as buys and 45 degrees down as sells) and price crossing 5 ema.

Sells = 5 min stoch cross down. 1 min entry lh with 34 ema slope down and price crossing 5 ema.

Yes you might say just wait for 1 min to slope and then trade, fair enough its whatever works visually for you.

Hl's and lh's remains the visual trigger for me and I'm happy to tinker here and there if anything jumps up and grabs me. So no changes to system as yet.
  • #227
  • Oct 27, 2008 3:31am Oct 27, 2008 3:31am
Did a lh sell on gu (didn't take pic) ts got hit for +17. Should have stayed with gu but moved over to my recent weapon of choice ej. Sold lh wanted out right on 115.50 but I got requoted eventually out at 115.68 for +51. Just as well as there was a massive spike shortly after that would have hit the original stop.

A good morning could have been as amazing as Thurs and Fri last week.
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  • #228
  • Oct 28, 2008 1:34am Oct 28, 2008 1:34am
Oh my word what a morning to have missed with ej.

At least I'm in now on this hl. TS hit out for +29.
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  • #229
  • Oct 28, 2008 1:50am Oct 28, 2008 1:50am
I tried to re-enter here, got re-quoted again, which I didn't take. Very strange when I place a trade (entry and exit) I have 4 pip max deviation enabled and still got a re-quote, it didn't seem that volatile to me.
Attached Image (click to enlarge)
Click to Enlarge Name: ej 2.gif Size: 11 KB
  • #230
  • Oct 28, 2008 2:07am Oct 28, 2008 2:07am
Ej has given us a lh marked with arrow and a lower low just below 119.50, previous low 119.65. Lets see what happens.
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  • #231
  • Oct 28, 2008 2:20am Oct 28, 2008 2:20am
Not a happy camper at the moment just had several re-quotes at least 1 of which had a max price move of 1 pip between entry and re-quote. The others did not seem so volatile either.

For what its worth, ej trade worked but when I missed that I tried gu which also got re-quoted twice.
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  • #232
  • Oct 28, 2008 2:58am Oct 28, 2008 2:58am
Got a little pre-occupied with looking to open another acc and missed the earlier gu lh, got in on this one.

I see my ts took me out at +42.
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  • #233
  • Oct 28, 2008 5:55am Oct 28, 2008 5:55am
Quoting Vantage
Also Harold4x's the key to the mint has some interesting points http://www.forexfactory.com/showthread.php?t=57116 have a look around see what grabs your fancy. There are aspects of Harold4x that I like and some that I don't.

I do like the idea of using the Stoch DiNapoli on the 5 min waiting for a crossing and using 1 min 34 ema slope for entries.

Buys = 5 min stoch cross up. 1 min entry hl with 34 ema slope 45 degrees (approx) up (think of 45 degrees up as buys and 45 degrees down as sells) and price crossing 5 ema.

Sells = 5 min stoch cross down. 1 min entry lh with 34 ema slope down and price crossing 5 ema.

Yes you might say just wait for 1 min to slope and then trade, fair enough its whatever works visually for you.

Hl's and lh's remains the visual trigger for me and I'm happy to tinker here and there if anything jumps up and grabs me. So no changes to system as yet.
... interesting post, Vantage, interesting post...

  • #234
  • Oct 28, 2008 6:16am Oct 28, 2008 6:16am
Quoting jtrade
... interesting post, Vantage, interesting post...

Hi jtrade
My wife likes the 5 min side of that system with rsi and DiNapoli stoch. It keeps you out of some trades though but might save some losing trades.

You could have virtually anything as a trigger but if you wait for 1 min 34 ema sloping up or down and trade the lh's and hl's as has been shown numerous times here and by Islander (psych levels, pivots and trendlines revisited), its a winner.

So for me personally its business as usual from the original system i.e. I want a 1hr candle to give me direction for 1st trade of day hl/lh from 5 min candle. Thereafter re-entry generally off 1 min chart where you'll inevitably see a good angle up/down on 34 ema.
  • #235
  • Oct 28, 2008 7:11am Oct 28, 2008 7:11am
Quoting Vantage
Hi jtrade
You could have virtually anything as a trigger but if you wait for 1 min 34 ema sloping up or down and trade the lh's and hl's as has been shown numerous times here and by Islander (psych levels, pivots and trendlines revisited), its a winner.

So for me personally its business as usual from the original system i.e. I want a 1hr candle to give me direction for 1st trade of day hl/lh from 5 min candle. Thereafter re-entry generally off 1 min chart where you'll inevitably see a good angle up/down on 34 ema.
I was doing some other work and on a couple of threads and missed these. They do however give a fantastic illustration of the simplicity of the hl/lh trades.

It wouldn't have mattered what the set up was from a higher chart, the outcome was a good angle up on 34 ema 1 min chart and a series of hl's that provide great entries with small stops. These kinds of runs happen several times per day.

This is just 1 trading idea that works well and should be in the arsenal of any trader, well thats my opinion.

As I say if my wife wants my opinion she'll give it to me!!!
Attached Image (click to enlarge)
Click to Enlarge Name: ej 2pm.gif Size: 8 KB
  • #236
  • Oct 28, 2008 7:40am Oct 28, 2008 7:40am
Very helpful posts, thanks, Vantage.

J.

PS. My wife has the same approach to my opinion...
  • #237
  • Oct 28, 2008 9:25am Oct 28, 2008 9:25am
Quoting Vantage
I was doing some other work and on a couple of threads and missed these. They do however give a fantastic illustration of the simplicity of the hl/lh trades.

It wouldn't have mattered what the set up was from a higher chart, the outcome was a good angle up on 34 ema 1 min chart and a series of hl's that provide great entries with small stops. These kinds of runs happen several times per day.

This is just 1 trading idea that works well and should be in the arsenal of any trader, well thats my opinion.

As I say if my wife wants my opinion she'll give it to me!!!


Vantage,

Nice system you have here, it makes a pleasant change from having all the "Bells & Whistles" on the chart

Been studying your style over the last month and so far Im impressed

Currently Im up on my account since the 20th October by 167 pips with only one loss of 20 pips.

Yeah all right its not much by many peoples standards but I only go for a 20/20 risk reward ratio, its just that I like to see the account grow steadily instead of massive ups and downs!


Take care,

Good Work

Doubletop.
  • #238
  • Oct 28, 2008 10:25am Oct 28, 2008 10:25am
Quoting doubletop
Vantage,
Currently Im up on my account since the 20th October by 167 pips with only one loss of 20 pips.

Yeah all right its not much by many peoples standards but I only go for a 20/20 risk reward ratio, its just that I like to see the account grow steadily instead of massive ups and downs!
Thankyou for your comments doubletop, feel free to weigh in any time with comments, set ups and charts.

167 pips in 6/7 trading days is mighty fine the beauty of this system for me remains small stops = decent % of capital per trade = great ROE. You are doing more than 20 pips per day and if you do that trading 1 full lot per $10000 in the account with a 15 pip stop (1.5%) you get a 40% return per month (20 pips x 20 days). I don't know how many traders out there are consistently doing that.

So grab those 20 pips knowing that every so often a bigger fish will get hooked.

Well done, I'm impressed, cheers.
  • #239
  • Oct 28, 2008 10:43am Oct 28, 2008 10:43am
I have been enjoying this thread. I thought I would share 2 trades that I made this morning on GBP/USD using your system. As the 8:00 am (NY time) one hour bar closed I noticed it was an Inside Bar. I went to the 5 minute chart and the 9:00 5 minute bar closed below the 5 ema. I entered and hit my target of 20 pips. Then the 9:00 am one hour bar closed and it was a lower low and a lower high than the 8:00 one hour bar. So I once again switched to the 5 minute chart and entered at the close of the 10:00 am 5 minute bar which was below the 5 ema. Again my 20 pip target was hit. A nice 40 pip morning. Thanks Vantage
  • #240
  • Oct 28, 2008 10:51am Oct 28, 2008 10:51am
Quoting volcano
I have been enjoying this thread. I thought I would share 2 trades that I made this morning on GBP/USD using your system. As the 8:00 am (NY time) one hour bar closed I noticed it was an Inside Bar. I went to the 5 minute chart and the 9:00 5 minute bar closed below the 5 ema. I entered and hit my target of 20 pips. Then the 9:00 am one hour bar closed and it was a lower low and a lower high than the 8:00 one hour bar. So I once again switched to the 5 minute chart and entered at the close of the 10:00 am 5 minute bar which was below the 5 ema. Again my 20 pip target was hit. A nice 40 pip morning. Thanks Vantage
Well done, I'm grinning like a cheshire cat over here , this applause man is working overtime this afternoon. Feel free to post charts also.

Cheers.
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