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  • #1,621
  • Mar 21, 2013 11:06am Mar 21, 2013 11:06am
Well Olarian we can't catch a runner on the breakouts can we? I know we will have to find a trend some day. Much patience is needed.
  • #1,622
  • Mar 21, 2013 11:32am Mar 21, 2013 11:32am
Quoting Seneca pilot
I think I should say that if you go back and look at all my trades, most of them are either daily open or daily high/low. I do keep the weekly open and close on my charts but I rarely ever take a trade off them. I use them for targets a lot though. Of course I do keep the weekly high and low on my charts because I want to take the trades off these. The weekly highs and lows are heavy S&R.

I could ignore all of that though and trade the daily open and daily high and low by themselves and do just peachy.
Actually you could just trade the Daily Hi/Lo and do just fine.
  • #1,623
  • Mar 21, 2013 11:36am Mar 21, 2013 11:36am
Quoting Good Lookin
Actually you could just trade the Daily Hi/Lo and do just fine.
That's correct, in fact the results are better than fine. You only need two or three areas to trade each day. I am only taking five to eight trades most WEEKS.
  • #1,624
  • Mar 21, 2013 11:58am Mar 21, 2013 11:58am
First of all, thanks to SP and all the other posters who have been so generous enough to share their ideas.

As I was reading this thread, I decided to actually test the efficacy of the OLHC in my home country's futures market. I live in Asia, and so far the results have been

disappointing. The price really doesn't seem to stall at the important levels like the DO, yesterday's high etc. I only used 2 months of data so maybe the sample size

is too small, but it is a little discouraging. I have no doubt that trading the OHLC in FX is profitable, but can the same method be applied to different kinds of

markets?
  • #1,625
  • Mar 21, 2013 12:25pm Mar 21, 2013 12:25pm
Quoting Seneca pilot
"One of two things will happen. That low will break and price will drop rather hard, or it will hold and we may close the gap tomorrow."

Looking like option two may be happening.

I don't trade much on Fridays any more. Good luck to those of you who do.
So we are at 1.2887 area for the third time. I don't think you would place a buy order here as it's third time and level is loosing it's significance? I am guessing that you would trade only a break with test from below for a drop to PDL? You could target 25pips 5pip stop 5:1 RR. Would that be an option? When you say drop hard do you mean below PDL or dropping without a retrace to 1.2887 level from below?
  • #1,626
  • Mar 21, 2013 12:26pm Mar 21, 2013 12:26pm
Quoting Seneca pilot
"One of two things will happen. That low will break and price will drop rather hard, or it will hold and we may close the gap tomorrow."

Looking like option two may be happening.

I don't trade much on Fridays any more. Good luck to those of you who do.
Trying to break that low again. They are nothing if not persistent.
  • #1,627
  • Mar 21, 2013 12:29pm Mar 21, 2013 12:29pm
Quoting stevexyg
So we are at 1.2887 area for the third time. I don't think you would place a buy order here as it's third time and level is loosing it's significance? I am guessing that you would trade only a break with test from below for a drop to PDL? You could target 25pips 5pip stop 5:1 RR. Would that be an option? When you say drop hard do you mean below PDL or dropping without a retrace to 1.2887 level from below?
I mean drop hard like to the weekly support from 2750 to 2650. Yes no chance I would long here, I would like to short it though if broken. In fact I would even consider trading tomorrow for a shot at that short in the morning.
  • #1,628
  • Mar 21, 2013 12:31pm Mar 21, 2013 12:31pm
Quoting Seneca pilot
I mean drop hard like to the weekly support from 2750 to 2650. Yes no chance I would long here, I would like to short it though if broken. In fact I would even consider trading tomorrow for a shot at that short in the morning.
I would liked to have held the news trade short for the drop but there was always a good chance of a double bottom and an assault on the gap for Friday. That would have caught a lot of the bad traders long over the weekend for a nice drop Monday when Cyprus loses its EU support.
  • #1,629
  • Mar 21, 2013 12:38pm Mar 21, 2013 12:38pm
Quoting Seneca pilot
for a nice drop Monday when Cyprus loses its EU support.


Have you looked into Cyprus for time zones? You will be able to get a nice not-so-little pad there for not much atall I would think pretty soonish. Lived there for two years as a nipper. Lovely beaches and golf courses, although some of the traditional seaside towns have been spoiled by tourism development.
  • #1,630
  • Mar 21, 2013 12:54pm Mar 21, 2013 12:54pm
Quoting galaxys3
First of all, thanks to SP and all the other posters who have been so generous enough to share their ideas.

As I was reading this thread, I decided to actually test the efficacy of the OLHC in my home country's futures market. I live in Asia, and so far the results have been

disappointing. The price really doesn't seem to stall at the important levels like the DO, yesterday's high etc. I only used 2 months of data so maybe the sample size

is too small, but it is a little discouraging. I have no doubt that trading the OHLC in FX is profitable,...
Without knowing which markets it is hard to comment specifically. Highs and lows do work in all markets but every market has its special personality. You need to know if your market is pit traded or all electronic. The start and end times need to be customized for each different market traded. Stock index futures have different characteristics from softs and metals etc. Forex has universal times so in that respect it is easier. It takes a mountain of research to determine the times and ranges you need to use for more specific markets.
  • #1,631
  • Mar 21, 2013 12:56pm Mar 21, 2013 12:56pm
Quoting stevexyg


Have you looked into Cyprus for time zones? You will be able to get a nice not-so-little pad there for not much atall I would think pretty soonish. Lived there for two years as a nipper. Lovely beaches and golf courses, although some of the traditional seaside towns have been spoiled by tourism development.
Probably be able to get the whole country pretty cheap soon, I could call it Chrisville.
  • #1,632
  • Mar 21, 2013 1:04pm Mar 21, 2013 1:04pm
You'd probablly need to create a new currency. CVD - Chrisville Dollar. You could set your own market opening time and get a good lie in then!
  • #1,633
  • Mar 21, 2013 1:07pm Mar 21, 2013 1:07pm
Quoting stevexyg
You'd probablly need to create a new currency. CVD - Chrisville Dollar. You could set your own market opening time and get a good lie in then!
Yep;

Here in Chrisville we open at the crack of noon.

Oh, and we close at two o'clock for golf.

Long hard working day.
  • #1,634
  • Edited 1:20pm Mar 21, 2013 1:18pm | Edited 1:20pm
You might want to make that a 3day working week.
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  • #1,635
  • Mar 21, 2013 1:44pm Mar 21, 2013 1:44pm
Quoting stevexyg
You might want to make that a 3day working week.
Its forty degrees and windy here today. Need somewhere warm and inviting.
  • #1,636
  • Mar 21, 2013 2:15pm Mar 21, 2013 2:15pm
It's a pleasant 16degrees C (60F) in Cyprus today. They may be hungry and a bit poorer than last week but atleast they are warm! And golf balls are cheap! Lucky buggers.
  • #1,637
  • Mar 21, 2013 2:35pm Mar 21, 2013 2:35pm
Quoting Seneca pilot
Well Olarian we can't catch a runner on the breakouts can we? I know we will have to find a trend some day. Much patience is needed.
Yeah, unfortunately. But (like yesterday) I managed to close one half at 1/1. So I cannot complain.
A nice runner would be nice though...
  • #1,638
  • Mar 21, 2013 3:24pm Mar 21, 2013 3:24pm
Quoting Olarion1975
Yeah, unfortunately. But (like yesterday) I managed to close one half at 1/1. So I cannot complain.
A nice runner would be nice though...
The breakout is the only trade I take half on. Helps to smooth out the equity curve. Most trades I am all in and all out.
  • #1,639
  • Mar 21, 2013 3:45pm Mar 21, 2013 3:45pm
Quoting Seneca pilot
The breakout is the only trade I take half on. Helps to smooth out the equity curve. Most trades I am all in and all out.
Ok. I trade the breakout in a separate account with closing half at 1/1. For the levels in my main account I also trade "all in & all out" with my stop not moved to BE and no partial closes.
  • #1,640
  • Mar 21, 2013 9:13pm Mar 21, 2013 9:13pm
Daily Open on Yen pairs provided nice opps for trades off 15 mins candles.

Just need to sit tight and let it go. (blue Lopen, white NYopen, red Lclose)
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