Highest Open / Lowest Open Trade

A new week begins.

On to my watch-list at the moment. NZDJPY...the 1-2-3 was too early for me to catch, unfortunately but maybe something will show on the HOLO front later as a bonus.

NZDUSD Ditto later possibility...

USDJPY An upside down look to the start of the day but maybe something here...

AUDCAD Setting up - but be a tad cautious with AUD pairs today as some movement going on elsewhere...

AUDUSD Sits above pivot point as well...

GBPAUD A bit of an interesting one, as it contains the AUD but also the fact that price sits below pivots...Will be interesting to see what happens here through the day...

USDCHF Set up right...and playing amongst the pivots.

USDCAD Maybe, maybe...

Seems like enough to be keeping an eye on, especially for a bleary-eyed Monday morning. Elsewhere, there are some strange looks on GBPCHF, EURCAD and EURGBP, while over on GBPUSD, EURUSD and GBPCAD are looking cramped.

The fact that there is a fair amount of activity around weekly and daily pivots, which is a potential angle to be investigated cw HOLO, will mean today will be interesting from a research angle, if nothing else.

Hahahahahahahah - cannot be unseen!!!

Attached Image

Lol - sorry mate. It's my restrained and very subtle - clearly too subtle lol - answer to the nay-sayer...the clue is in the title of the original image file.

Welcome, JayBro. Good to have you here. ​Someone with the ability to think for themselves is always welcome.

Hi Spongetrap. Yes, a question about breakout trading in a thread devoted to reversals may seem a tad perverse, lol. However, another way to look at it is ''what do you do with a breakout?'' In answer to that version of your question, I would suggest you check out TooSlow's other thread on the 1-2-3 trade. This is HOLO's red-haired-step-child of a method and I love it. It gives us a way to trade the inevitable breakouts that appear and stop HOLO in its tracks. It's not ​a breakout trade as you would see it elsewhere - but it ​is a way to trade ​breakouts. Does that make sense, lol? Ah, go and check it out yourself - you'll see what I mean!

Right - thought long and hard about this and left PtG to fight the battle over the weekend but I now feel the need to make one statement in answer to the nay-sayer brigade who feel some perverse need to come and piss in TooSlow's backyard.

(This is mainly at the ''you idiots will never bag +200 pips'' squad - I don't have the energy today to wade into the mud around the old EA question that seems to come up on every thread ever written since god was a boy...)

So, leaving aside the basic ''troll-ness'' ​of it all, let's break this down, as it does actually raise some valid points every trader should ask themselves. ''What kind of trader am I?'' ​Do I love the risk - or am I risk-averse? Can I happily sit and watch my pips slide into negative territory in the assumption that it will eventually ''come good'' - or do I have a quick target and get out when I hit it?

You get the picture. I can guarantee we've all asked ourselves these kinds of questions.

The actual initial taunt is completely invalid in any case. We work on the 5 min time-frame. When was the last time you, or anyone, saw a +200 pip move using a method to trade the 5 min tf? You want +200 in a run, for sure, go trade the Daily. I have done and continue to do so myself. It's a pity the confrontational tone was taken right from the off, as I had previously checked out that thread and the two methods would actually complement each other very well. The method, by the way, is as old as the sun.

Now back to what kind of trader are you etc etc...train of thought getting away from me there...

...If you want to trade those big time-frames, you better get used to that old monkey on your back - big stops. BIG ​stops. One month-long run - and I picked a biggie just to keep him happy - bagged +669 pips or so. Wowee, love it - and I actually got some of that using another method, so genuinely, wowee. However, the stop was -260 pips...gulp...love it not so much. Would you? If you can handle that potential hit and you do want, or more likely need, to trade hands-off, then you probably should go look see if it suits you better. HOLO is not for those who can't trade at the screens. That's not a fault, it's just a fact.

Contrast and compare. The kind of stops I look at every day are about what, -7...-10...I remember a -17 once...

''...but LM, it's those +200s I'm missing...I want those +200s...Everyone else is making +200s!''

So...that +669 pips I mentioned. Took a good month and a half to get there. It's a trend, trends do that. So no surprise there. How do I do in a month? On average, so far, since I have been using HOLO, I have bagged an average of +360 per week...(+360.8 to be exact)...and yes, I did say per week​. On stops the size of gnat-bites.

Now, I admit, I work this method like a Trojan. No dipping in and out here. I include 1-2-3 trades in those numbers. I sit here and I slog it out. By the end of some days, my brain is putty and my ass is numb...but you know what?...All those +1's and +5's just ticking by...totally worth it. Makes the +30-somes you get a couple of times a week even sweeter. I also admit that I have near on 15 years of trading experience behind me and that does come into play sometimes (another reason EAs don't work, they don't factor in experience and ''gut''. Do Hedge-Funds use 199-quid EAs? Err...no. Don't confuse the prop software they use with EAs, that's like horses and giraffes...both have four legs and that's about it).

Does this mean you are going to get these numbers? Nope...not for a minute...anyone that claims otherwise is a fool and a fraud...and that's the thing. NO-ONE ​can guarantee you will do squat. No-one.

Anyway. How many trades have I missed since I felt the need to add this reply?...

...If it makes one of you new guys (and I refuse to use the derogatory term, noobs​) think about which way you really want to trade and puts you on the right path for you​, than it's been worth it. It doesn't matter what that path is...HOLO, 1-2-3, Daily sma cross, burning incense at midnight while running round the park naked...just do the required work and get it down solid. Be totally comfortable with it and make it work for you.

...and never let yourself get so bitter and twisted that your only sense of satisfaction comes from puking your nonsense over other people.

Last word.

Bit of a mish-mash this morning so far. Missed an M1 entry and re-entry on the NZDJPY...such is life...and thread posting.

The EURGBP could be up for giving us something around the US Open...

EURCAD has a 1-2-3 in play and possible HOLO opportunity later...

GBPCHF Also maybe but not yet...