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Highest Open / Lowest Open Trade

  • #7,281
  • Oct 4, 2016 4:12am Oct 4, 2016 4:12am
Quoting lemercenaire
{quote} Yes, it's a 1-2-3. Aussie is good for 1-2-3's...keep an eye out for one coming the other way at the end of the day. The Loonie is another which runs like this.
Thanks for confirming and the tips!

I'm keeping the focus on GU for now until I finished the challenge will definitely add AUDUSD to the watchlist.
Simplicity is the key to brilliance
  • #7,282
  • Oct 4, 2016 4:17am Oct 4, 2016 4:17am
Quoting LinFX
I think this is 123 instead of HOLO. Am I correct guys? {image} OOH gosh . I'm having an affair with aussie... Sorry GU!! This will not count into my challenge trade. Cheers! {image}
One thing - just remember that a 1-2-3 trade is entered when price crosses the open price of the trigger bar - the new low/high testing bar - which is not always the new LO/HO.
  • #7,283
  • Oct 4, 2016 4:20am Oct 4, 2016 4:20am
Quoting lemercenaire
{quote} Is momentum mentioned anywhere in the rules? I don't know - can you see into the future? If, if, you are in profit but not quite at the BE+5, then you can be justified in bending the rules and take what profit you can get. If you see a train coming, do you stand there and wait to be hit if someone else tells you it'll stop in time? Either way, the decision is yours. Close it early and don't moan about how you should have left it in.
I mean those trades that move against you straight from the first second and never even get into the green. A 20 pip losing trade will wipe out four +5 trades. I wanna cut my losers short, not my winners.
  • #7,284
  • Oct 4, 2016 4:21am Oct 4, 2016 4:21am
Trade 8 of 10:

Attached Image (click to enlarge)
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GBPUSD: -10pips

Took a loss early from a valid setup. Is an HOLO level equal to an SR level? the more it got tested the weaker it become?
Simplicity is the key to brilliance
  • #7,285
  • Oct 4, 2016 4:21am Oct 4, 2016 4:21am
Quoting lemercenaire
{quote} One thing - just remember that a 1-2-3 trade is entered when price crosses the open price of the trigger bar - the new low/high testing bar - which is not always the new LO/HO.
I was just going to ask....
#1 bar makes new high/low
#2 bar does not reach it

enter as prices crosses back on open price of #1 correct?
no waiting for bar #2 to close right?
The quality of your life is brought about by the quality of your thinking.
  • #7,286
  • Oct 4, 2016 4:31am Oct 4, 2016 4:31am
Quoting hornet
{quote} I was just going to ask.... #1 bar makes new high/low #2 bar does not reach it enter as prices crosses back on open price of #1 correct? no waiting for bar #2 to close right?
Yes...
Yes - however, I personally will trade if the bar price breaches the high before reversing if I like the look of the surroundings...
Yes.
  • #7,287
  • Oct 4, 2016 4:34am Oct 4, 2016 4:34am
Quoting lemercenaire
{quote} Yes... Yes - however, I personally will trade if the bar price breaches the high before reversing if I like the look of the surroundings... Yes.
ta
The quality of your life is brought about by the quality of your thinking.
  • #7,288
  • Oct 4, 2016 4:37am Oct 4, 2016 4:37am
Quoting LinFX
Trade 8 of 10: {image} GBPUSD: -10pips Took a loss early from a valid setup. Is an HOLO level equal to an SR level? the more it got tested the weaker it become?
Yes, be cautious of taking too many bites from the cherry. Don't forget rule #6. You are also trading way below yesterday's low and pivots now.

I'd be looking for 1-2-3 set ups just before or around the US Open.

Attached Image (click to enlarge)
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  • #7,289
  • Oct 4, 2016 4:40am Oct 4, 2016 4:40am
Quoting hornet
{quote} ta
Hi Hornet and others. Dose in these system average daily range matters! What i like to say is when he is fulfilled for certain pair can we wait for reversal!? Thanc you in advance
  • #7,290
  • Edited 5:46am Oct 4, 2016 4:47am | Edited 5:46am
Quoting lemercenaire
{quote} Yes, be cautious of taking too many bites from the cherry. Don't forget rule #6. You are also trading way below yesterday's low and pivots now. I'd be looking for 1-2-3 set ups just before or around the US Open. {image}
Roger that! thanks for your advice. Appreciate it very much!
Simplicity is the key to brilliance
  • #7,291
  • Oct 4, 2016 4:49am Oct 4, 2016 4:49am
Quoting Karemi-Trade
{quote} I mean those trades that move against you straight from the first second and never even get into the green. A 20 pip losing trade will wipe out four +5 trades. I wanna cut my losers short, not my winners.
Your attitude to risk is entirely personal. On HOLO, I very, very, rarely see any stops of more than -10 or so. (1-2-3 trades are different, they will have larger stops). I think the most I have dropped on a HOLO is -17. If you are uncomfortable with the sl you will have, then I would look for another trade elsewhere.
  • #7,292
  • Oct 4, 2016 4:53am Oct 4, 2016 4:53am
Quoting mizi123
{quote} Hi Hornet and others. Dose in these system average daily range matters! What i like to say is when he is fulfilled for certain pair can we wait for reversal!? Thanc you in advance
This is additional info. Is average daily range mentioned in the rules? Follow the rules first. As you gain experience, you can begin to take into account things like ADR, pivots etc. HOLO does what HOLO does just fine without any bolt-ons.
  • #7,293
  • Oct 4, 2016 4:58am Oct 4, 2016 4:58am
Quoting lemercenaire
{quote} This is additional info. Is average daily range mentioned in the rules? Follow the rules first. As you gain experience, you can begin to take into account things like ADR, pivots etc. HOLO does what HOLO does just fine without any bolt-ons.
Yes #lemecrnaire but the idea behinde daily high and low is a litle undefinied concept in all these and if is a "mistake" i repeat under quotes "mistake" these is that f***g H and L. Anyway i like deep inside the system, sometimes it goes to love
  • #7,294
  • Oct 4, 2016 5:12am Oct 4, 2016 5:12am
Attached Image

edit: BE+1
The quality of your life is brought about by the quality of your thinking.
  • #7,295
  • Oct 4, 2016 5:19am Oct 4, 2016 5:19am
Attached Image
The quality of your life is brought about by the quality of your thinking.
  • #7,296
  • Oct 4, 2016 5:28am Oct 4, 2016 5:28am
Quoting mizi123
{quote} Yes #lemecrnaire but the idea behinde daily high and low is a litle undefinied concept in all these and if is a "mistake" i repeat under quotes "mistake" these is that f***g H and L. Anyway i like deep inside the system, sometimes it goes to love
You mean that the current daily high and low may be overruled by a new one later on ?
It takes courage to grow up and become who you really are - E.E. Cummings
  • #7,297
  • Oct 4, 2016 5:33am Oct 4, 2016 5:33am
Quoting PippyTheGrt
{quote} You mean that the current daily high and low may be overruled by a new one later on ?
Egxactly PippyTheGrt engulfed or...... and in some way to finde a clue to chose the best pair for that day!!
  • #7,298
  • Oct 4, 2016 5:33am Oct 4, 2016 5:33am
Quoting mizi123
{quote} Hi Hornet and others. Dose in these system average daily range matters! What i like to say is when he is fulfilled for certain pair can we wait for reversal!? Thanc you in advance
ADR matters in any system and you use it depending on what you are looking for in terms of trade type (continuation or reversal) and profit target in pips.
It takes courage to grow up and become who you really are - E.E. Cummings
  • #7,299
  • Oct 4, 2016 5:36am Oct 4, 2016 5:36am
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  • #7,300
  • Oct 4, 2016 5:38am Oct 4, 2016 5:38am
Quoting mizi123
{quote} Egxactly PippyTheGrt engulfed or......
After a period is over (e.g. a day) only then, in hindsight, can you see what happened. On the hard right edge, where you make the go/no go trading decisions, you assume that a daily high and low is going to be the final one. Two choice: either it is, or it isn't. Either way, you may or may not have a winner depending on various parameters. Everything is uncertain, that is certain (or isn't it ?)
It takes courage to grow up and become who you really are - E.E. Cummings
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