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Highest Open / Lowest Open Trade

  • #7,121
  • Oct 2, 2016 1:52pm Oct 2, 2016 1:52pm
Quoting tantra
Uniquely, could easily catch the weekly range with two trades and stop loss around 10 pips. Naturally for patient traders or with less time in front of the monitor{image} {image}
This is one way the big boys play. Add a mid-range line and you're golden.
  • #7,122
  • Oct 2, 2016 1:54pm Oct 2, 2016 1:54pm
Quoting PippyTheGrt
{image}
Phenomenal image! Who is it? I'd have said Jim Clark but don't remember him in #24.
  • #7,123
  • Oct 2, 2016 1:57pm Oct 2, 2016 1:57pm
Quoting Karemi-Trade
{quote} Rat zone sounds familiar to me. Is that you, TRO?
TRO lives in another galaxy but there are rats everywhere.
  • #7,124
  • Oct 2, 2016 2:04pm Oct 2, 2016 2:04pm
[quote=PippyTheGrt;9173102]{quote} Quote: "..if it rains now I can be pretty sure it rains the next second and the next second and the next second, until it doesn't."

This is quite possibly the best definition of trading I have ever heard.
  • #7,125
  • Oct 2, 2016 2:50pm Oct 2, 2016 2:50pm
Hey guys, I'm new here and I have been reading over this strategy over the weekend (thanks for sharing btw). I still have 100 pages to read though, but I usually learn quicker by practicing it. Since I started reading it yesterday, I haven't had the chance of trying live/demo. So I did a "backtest" to practice. Can you please take a look at the chart below and tell me if that is correct and following the rules properly? Chart on top is 1H and the bottom is 15M.

Attached Image (click to enlarge)
Click to Enlarge Name: rteg.PNG Size: 55 KB


Basically price created a lowest daily open in that big red candle. Then, it opened in the area of interest and 4 candles later the order got triggered. It moved up about 4 pips (so no BE+1 yet), then it retraced back 15 pips.. moved up again and then gave me 5 pips which would have closed with BE+1.. retraced again and finally shot up. If this analysis is correct.. could we have entered again when price opened in the area of interest before shooting up?

Thank you in advance.
  • #7,126
  • Oct 2, 2016 4:13pm Oct 2, 2016 4:13pm
Quoting JAKammus
Hey guys, I'm new here and I have been reading over this strategy over the weekend (thanks for sharing btw). I still have 100 pages to read though, but I usually learn quicker by practicing it. Since I started reading it yesterday, I haven't had the chance of trying live/demo. So I did a "backtest" to practice. Can you please take a look at the chart below and tell me if that is correct and following the rules properly? Chart on top is 1H and the bottom is 15M. {image} Basically price created a lowest daily open in that big red candle. Then, it...
Hi JAKammus, good to have you here. I'm scanning on my phone, so hopefully I can just about read your charts. Personally I would have been inclined to trade your big candle as a 1-2-3 trade and then gone in as a HOLO on one of the later ones, once the downward momentum had probably finished. Having said that, yes, it does look like a valid trade as shown.

You say you usually learn best by practicing, so that's even better, as this is the perfect way to learn HOLO. Take the 10-Trade Workout and challenge yourself to execute every one of those trades perfectly. The market will do what the market will do and after the dust settles, you can take stock and move on from there.
  • #7,127
  • Oct 2, 2016 4:49pm Oct 2, 2016 4:49pm
Quoting lemercenaire
{quote} Phenomenal image! Who is it? I'd have said Jim Clark but don't remember him in #24.
Jackie Oliver I believe.
https://en.wikipedia.org/wiki/1967_German_Grand_Prix
It takes courage to grow up and become who you really are - E.E. Cummings
  • #7,128
  • Oct 2, 2016 4:52pm Oct 2, 2016 4:52pm
Quoting wannalearn12
{quote} Turnip called this Mountains on Green Facade or something hehe.
I resonated with the artist inside me. Keyword: "chaos" LOL
It takes courage to grow up and become who you really are - E.E. Cummings
  • #7,129
  • Oct 2, 2016 4:55pm Oct 2, 2016 4:55pm
Quoting wannalearn12
Couldn't have asked for a better set up last week. Look at the space(room to play with)! {image}
Have you been MO-ed ??
It takes courage to grow up and become who you really are - E.E. Cummings
  • #7,130
  • Oct 2, 2016 4:57pm Oct 2, 2016 4:57pm
Quoting tantra
Uniquely, could easily catch the weekly range with two trades and stop loss around 10 pips. Naturally for patient traders or with less time in front of the monitor{image} {image}
Or you wait for a new weekly high/low RAT on H1 or H4 and let that play out. Bigger stop, less time.
It takes courage to grow up and become who you really are - E.E. Cummings
  • #7,131
  • Oct 2, 2016 5:00pm Oct 2, 2016 5:00pm
Quoting Karemi-Trade
{quote} Rat zone sounds familiar to me. Is that you, TRO?
LOL.
No.
We must travel to the same "galaxy" from time to time.
Much to be learned there.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #7,132
  • Oct 2, 2016 5:01pm Oct 2, 2016 5:01pm
[quote=lemercenaire;9173800]
Quoting PippyTheGrt
{quote} Quote: "..if it rains now I can be pretty sure it rains the next second and the next second and the next second, until it doesn't." This is quite possibly the best definition of trading I have ever heard.
Good one.
Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #7,133
  • Oct 2, 2016 5:05pm Oct 2, 2016 5:05pm
[quote=TooSlow;9173968]
Quoting lemercenaire
{quote} Good one. Cheers!
Like I had said before, all of you guys have taught me a thing or two about a thing or two as the great asshole Robert Dinero said in a movie. Your way of skinning a cat so to speak has been eye opening for me as HOLO has. Thank all of you for your badass contributions!!!
  • #7,134
  • Oct 2, 2016 5:07pm Oct 2, 2016 5:07pm
Quoting PippyTheGrt
{quote} Jackie Oliver I believe. https://en.wikipedia.org/wiki/1967_German_Grand_Prix
Yep - Arrows founder. Kind of a forgotten man I suppose. "Before f1 cars had wings, they could fly."
  • #7,135
  • Oct 2, 2016 5:07pm Oct 2, 2016 5:07pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #7,136
  • Oct 2, 2016 5:30pm Oct 2, 2016 5:30pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #7,137
  • Oct 2, 2016 5:45pm Oct 2, 2016 5:45pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #7,138
  • Oct 2, 2016 5:46pm Oct 2, 2016 5:46pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #7,139
  • Oct 2, 2016 6:13pm Oct 2, 2016 6:13pm
Quoting TooSlow
{image}
This was a 123 setup?
  • #7,140
  • Oct 2, 2016 6:13pm Oct 2, 2016 6:13pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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