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Highest Open / Lowest Open Trade

  • #4,141
  • Jul 26, 2016 8:47am Jul 26, 2016 8:47am
Attached Image (click to enlarge)
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,142
  • Jul 26, 2016 8:50am Jul 26, 2016 8:50am
Quoting MichaelG
{quote} Hi Keen, If I read you right, your first day produced less than 20% (I imagine not very much less?), then that is an absolutely fabulous outcome. But just a suggestion if I may. If you are going to back test this or even forward test it on demo (if that's what you are doing), you will need to consider a number of things (but you probably know this).And you need to document "stuff" so you can make comparisons. (that doesn't mean that it will ALWAYS be right) What works during the Asian session, may not work during the UK/US sessions. I say...
Hello MichaelG,
Thanks a lot for your suggestions. We all really appreciate your thoughtful posts.
I come from scalping using PA, so I'm very aware of the market rhythm, so I avoid the asian session most of the time and fully agree with your comments. I plant to only simulate from London Open to midday NY session, as the volatility from then on wards is not worth it. I think that with this strategy we need a decent volatility.
I'll follow your advice and use as entry the M15. I"ll follow the rules as per post #1, but I have mixed feelings about moving the stop each 5 pips. Well, lots of simulation time will provide some answers.
I plan to post some trades, winning and losing, so maybe I can get some feedback from you guys.
Cheers
  • #4,143
  • Jul 26, 2016 8:54am Jul 26, 2016 8:54am
Tooslow,

Could please explain me, for what the hilo trend line in your New indicator and template? I don't understand how to use. Thanks
  • #4,144
  • Jul 26, 2016 9:00am Jul 26, 2016 9:00am
Quoting kleybenny
Tooslow, Could please explain me, for what the hilo trend line in your New indicator and template? I don't understand how to use. Thanks
Input Trend_Bars = 0 will count higher/lower opens in a row.
Input Trend_Bars = n will draw line from Bar[0] open to Bar[n] open.
Helps determine price direction.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,145
  • Jul 26, 2016 9:01am Jul 26, 2016 9:01am
Quoting keen246
{quote} Hello MichaelG, Thanks a lot for your suggestions. We all really appreciate your thoughtful posts. I come from scalping using PA, so I'm very aware of the market rhythm, so I avoid the asian session most of the time and fully agree with your comments. I plant to only simulate from London Open to midday NY session, as the volatility from then on wards is not worth it. I think that with this strategy we need a decent volatility. I'll follow your advice and use as entry the M15. I"ll follow the rules as per post #1, but I have mixed feelings...
Overthinking.
Sooner or later you wind up splitting hairs.
Just trade.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,146
  • Jul 26, 2016 9:04am Jul 26, 2016 9:04am
Quoting keen246
{quote} Hello MichaelG, Thanks a lot for your suggestions. We all really appreciate your thoughtful posts. I come from scalping using PA, so I'm very aware of the market rhythm, so I avoid the asian session most of the time and fully agree with your comments. I plant to only simulate from London Open to midday NY session, as the volatility from then on wards is not worth it. I think that with this strategy we need a decent volatility. I'll follow your advice and use as entry the M15. I"ll follow the rules as per post #1, but I have mixed feelings...
Good on you Mate.
I made a Dick of myself to BBKing, as (once again) I misread your original post.....and then took (rediculous) offence at his reply. Gotta learn to just shut up sometimes. Fair dinkum. (Note to self. Bang head on desk numerous times you idiot!!) Anyway, I have sent him an apology. Wouldn't blame him to just ignore it.

I digress......Yes mate, as TooSlow has mentioned a few times, if you have a good grasp of the "rules", then you can make it your own. What ever makes you money at the end of the day. There ain't too much else that you need to worry about.
And as BBKing also suggested, it may be shown that the H4 or the D1 may turn out to be the winning TF's.

I can't really comment on that as I have nothing to back it up with, but a bit of homework will show the right path.
Keep going mate. It sounds like you know what you are doing.
Cheers
  • #4,147
  • Jul 26, 2016 9:12am Jul 26, 2016 9:12am
Quoting _BBKing_
{quote} ? he said 20% winning. that means that out of 10 trades, 2 were profits, 8 were losses. this could be great on a daily / weekly or monthly strategy where you could have 2 wins for 380pips each and 8 losses for 30pips each. but for an intraday strategy is quite a bad result, considering that this strategy could give far better results. the problem, for what i see is that people for some misterious reasons, think that this is an holy grail able to make you rich by buying/selling counter main direction and without knowing how basic trade mechanics...
Yes, I got 20% winning rate on MY FIRST ATTEMPT. Maybe I'm a bit stupid. Sorry we all are not as smart as yourself and get 80% winning rate on your first attempt.
But don't assume I'm some kind of naive newbie thinking there is such a thing as the holly grail and I'll become rich just clicking on the chart mindlessly.
" One has to study and learn and get it wrong and understand why..." Really? This is a breakthrough....nobody had ever figured that out!
Well, as usual on these forums, just after your first post there will come some smart a$$ to light your world.
  • #4,148
  • Jul 26, 2016 9:39am Jul 26, 2016 9:39am
Quoting keen246
{quote} Yes, I got 20% winning rate on MY FIRST ATTEMPT. Maybe I'm a bit stupid. Sorry we all are not as smart as yourself and get 80% winning rate on your first attempt. But don't assume I'm some kind of naive newbie thinking there is such a thing as the holly grail and I'll become rich just clicking on the chart mindlessly. " One has to study and learn and get it wrong and understand why..." Really? This is a breakthrough....nobody had ever figured that out! Well, as usual on these forums, just after your first post there will come some smart...

1- I did not quote your post. so the comment was not directed to you. indeed mine was a generic talk.
2- I did not offend anyone. including you.
3- I never said i got an 80% win rate with this nor any other strategy.
4- I'm here to share what I see happening with this strategy in the instruements I trade. Not teaching anything to anyone.
5- I never asked your opinion about what I say / think and now that I know the way you think... I will never be interested in anything from you.

I hope you do not read charts in the same way you read a post.
90% of traders use TA, indicators and prediction
  • #4,149
  • Jul 26, 2016 9:42am Jul 26, 2016 9:42am
so finally

will leave for a while the posting thing.

better for my health!

hope the best for all of you


byeeeeee
90% of traders use TA, indicators and prediction
  • #4,150
  • Jul 26, 2016 9:45am Jul 26, 2016 9:45am
Hey everybody.
Please remember this is a FRIENDLY THREAD.
Easy to get nose out of joint especially when you may be down for the day, week, month, year.
This is only a thread in a forum on the internet.
Let us keep this thread a "safe" place.
There are plenty of other threads where you can hurl insults.
And you can always use PMs to express displeasure with someone.
Play nice
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,151
  • Jul 26, 2016 9:49am Jul 26, 2016 9:49am
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow2.png Size: 63 KB


The original HOLO indicator would have caught the last bottom turn around (see chart below)
Setting were for 16 bars.
16 M15 bars is the last 4 hours.

Attached Image (click to enlarge)
Click to Enlarge Name: tooslow1.png Size: 39 KB


Sometimes improvements are not what they appear to be.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,152
  • Jul 26, 2016 10:12am Jul 26, 2016 10:12am
I'd get this:
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  • #4,153
  • Jul 26, 2016 10:53am Jul 26, 2016 10:53am
Attached Image (click to enlarge)
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Forgot to mention about a modification.
The lines are drawn in highest to lowest time frame order.
When 2 or more time frames have the exact same highest/lowest open values, the highest time frame label is used.
M5 and M15 highest opens are not "missing" in the above chart.
They are the same as the H1 highest open.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,154
  • Jul 26, 2016 10:56am Jul 26, 2016 10:56am
I probably entered too early here...
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  • #4,155
  • Jul 26, 2016 11:04am Jul 26, 2016 11:04am
Quoting archishard
I probably entered too early here... {image}
TP is above the daily open and the previous day's high.
You must be euro bullish.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,156
  • Jul 26, 2016 11:15am Jul 26, 2016 11:15am
Attached Image (click to enlarge)
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Loaded the original HOLO and sm indicators on same chart.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,157
  • Jul 26, 2016 1:03pm Jul 26, 2016 1:03pm
3 trades simulating this morning on the GU. 1 win, 2 BEs.
The nice thing using FT2, is that you can go back and see tick by tick how the candles behaves.
Attached Image (click to enlarge)
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  • #4,158
  • Jul 26, 2016 1:49pm Jul 26, 2016 1:49pm
Attached Image (click to enlarge)
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,159
  • Jul 26, 2016 1:55pm Jul 26, 2016 1:55pm
Inserted Video
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,160
  • Jul 26, 2016 1:59pm Jul 26, 2016 1:59pm
Attached Image (click to enlarge)
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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