Highest Open / Lowest Open Trade

EURUSD Maybe, maybe...

GBPUSD Showing a bit of room as well...

GBPUSD and EURUSD - whatever does, or doesn't, happen for us there, these two are (likely) not going to stay in those ranges all day.

USDCHF I was told there was a BreakOut around here somewhere...

Dear TooSlow, I'm new to this great thread. Could you please show me what version of indicator/ template to get the same as this of your trading screen? I try some in the attachments but cannot find it.
Once more, do we need to use EA for trailing stop?

Thank you very much for your great share of this strategy!

TRADE #8

Pair: USDCAD

Position: Long at 1.31634 (H1 Lower Open 1.31633)
SL at 1.31532
Risk: 10.2 pips ( 15,50 $)
Entry: Market order at 1.31634
Exit: by SL at the bid price (1.31644)
Position size: 0.20 lot
Trade duration: 00:18:38
P/L: + 1.0 pips (+1,52 $)
Spread: 1.6-2.1 pips

After entry:


SL moved:


SL hit:

TRADE #9

Pair: USDCAD

Position: Long at 1.31551 (H1 Lower Open 1.31550)
SL at 1.31502
Risk: 4.9 pips ( 7,45 $)
Entry: Market order at 1.31551
Exit: by SL at the bid price (1.31502)
Position size: 0.20 lot
Trade duration: 00:02:37
P/L: - 4.9 pips (- 7,45 $)
Spread: 1.6-2.1 pips

Very tight SL

You violated a rule.
Start over.

Yes I see my mistake .... I don't know why I did as I did.

Trade #9 will not count in my challange.

For others I did not wait to m5 candle open below LO.

Thank you TS

So, I've been looking for an answer about breakouts. What is the rule especially in a day like today? It's messing with my system pretty bad and I should have stayed out today. Sitting on your hands I have found out IS a position too😐

Only read it now - the read post #1 remark

I wouldn't say there is a rule for today, other than that there is a lot of indecision meaning range bound activity, not bad for HOLO or 1-2-3 I'd say. You can always scale back the position size to mitigate financial disaster, or sit on your hands and study previous examples of days with the same news (Jul 27, Aug 17 etc.) But there will still be a high and a low for the day.

Breaking a rule ends the challenge.
Have to start over.
Next trade is #1.

TooSlow You mean the rule that the current low can't be lower than low of the previous day?

@TooSloow: what can I do, I have to much winner and to low looser

Treat yourself to something nice.

''GBPUSD and EURUSD - whatever does, or doesn't, happen for us there, these two are (likely) not going to stay in those ranges all day.''

GBPUSD Please, please...please ​tell me that some of you got in on that wild ride...​PLEASE!!! It took a while to get there but had been on the table all day. If there was one time to get down to the m1 charts for entries, this was it.

RED news day, central bank ratefest. Nice to look back and find entries, but any that you are talking about would have been stopped out per rules.

[quote=Tman72;9153062]{quote} So, I've been looking for an answer about breakouts. What is the rule especially in a day like today? It's messing with my system pretty bad and I should have stayed out today. Sitting on your hands I have found out IS a position too😐[/quote]

As Pippy says, the HOLO rule on breakouts is simple: Don't trade BreakOuts. Rule #1. It doesn't matter if it's a day like today or any other day. Don't trade BreakOuts. (...and should you really ​have been trading a day with so much red in it anyway? What one thing does a day like today bring? ​BreakOuts!!!).

When you are starting out, keep it simple. Stick to the rules. You say that BreakOuts keep messing with your system - and you know you should have sat it out. Some bloke called Bert Stein or something, once apparently misquoted Ben Franklin and said ''The definition of insanity is doing the same thing over and over and expecting different results.''

I am not here to browbeat you. You don't need me to - you're doing a fine job of that yourself. It's only natural to feel you're somehow missing out on all this good stuff. That you need to add in all this extra ''oomph'' to make it all work. You don't. HOLO works just fine and dandy pared down to its essence. There will be plenty of time to fine tune your method, to work those breakouts, to enter on M1 charts or even use ''dipping'' instead of waiting for any ​candle to open. What's the rush? Trying to run before you can walk never ends well.

Today is a perfect example. The last post I stuck up there should be all you need to motivate you. Set up your charts, put together your ''watch-list'' (use the ones that are flagged up here as a starting point if needs be - but better if you do your own, develop your own eye). Wait. Wait some more. Read the rules again - hey, why not?. Wait...wait...wait...Be patient.

The GBPUSD trade was keyed up early this morning. It didn't trigger till very late in the (UK trading) day. If it was a day like today and you sat out of all the weirdness, you would still have had this one trade (even taking only the first of the three, as the last two were m1 entries). There's your day. In amongst it all, a bog-standard HOLO trade does the job.

I am sure I have used the painting analogy before - but it bears using again. Abstract artists paint pictures which are blazes of colour, seemingly random lines, splodges and all the rest - however ask them to draw a realist portrait and they can. They can because they have the technique down perfectly. They know the ''rules'' by heart and are technicians to the core. We should all be the same. Learn the craft at the heart of the method before moving on to the abstraction.

Keep at it. Knowing where you are going wrong is half the battle. We are here to set things up. We do not ''tell you what to do''. You learn by doing, not by copying.

Bring on tomorrow. It's all good.

According to ''the'' rules, or according to my rules adapted from them and for the way I trade HOLO. I flagged up my entry first thing this morning. 1.29635 trigger. 1.29463 sl. I do not use the standard tp rules, especially on big red days. Not even close to being stopped out.