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Highest Open / Lowest Open Trade

  • #7,401
  • Oct 5, 2016 11:58am Oct 5, 2016 11:58am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #7,402
  • Oct 5, 2016 12:51pm Oct 5, 2016 12:51pm
The Roman philosopher Seneca said, "While we teach, we learn," and educators have long known the best way to lock in your own understanding of a topic is to teach it to someone else. Explaining these concepts to other people will not only help them, it will help you, because you will be able to articulate your understanding more clearly.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #7,403
  • Oct 5, 2016 12:52pm Oct 5, 2016 12:52pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #7,404
  • Oct 5, 2016 12:56pm Oct 5, 2016 12:56pm
Quoting rockanore
Hi all , been reading through thread and have taken a couple of trades today I haven't been able to upload pics for some reason. I have taken a buy trade on eurusd at 1705 gmt is that correct ? i look forward to this new journey and hope I can make a good go of it , thanks for all your positive thoughts tooslow
Assuming your chart has the same levels as mine, with LO at 1.11946, then no, it's not truly a HOLO, as no candle opened below that level. An argument could be made that you could have taken a 1-2-3 on the m5 tf.

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Not even on m1...

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As a 1-2-3 entry on the m5 tf...

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If you are having trouble uploading charts and are not using Chrome, switch browser and see if that works. A few of us have been having issues when not using Chrome in the last few days. Apparently FF is geared toward Chrome.
  • #7,405
  • Oct 5, 2016 1:14pm Oct 5, 2016 1:14pm
USDJPY+1 pip
Attached Image (click to enlarge)
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GBPUSD+1 pip
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  • #7,406
  • Oct 5, 2016 1:19pm Oct 5, 2016 1:19pm
Quoting WoS
USDJPY+1 pip {image} GBPUSD+1 pip {image}
so in total your trades went to +10 pips, if you moved stop to be+1 at +5. Now let me ask you this, how many be+1's do you encounter? Take all of those at +5 and I am sure you can see where I am going...
  • #7,407
  • Oct 5, 2016 1:35pm Oct 5, 2016 1:35pm
Quoting wannalearn12
{quote} so in total your trades went to +10 pips, if you moved stop to be+1 at +5. Now let me ask you this, how many be+1's do you encounter? Take all of those at +5 and I am sure you can see where I am going...
It's an option. I know at least one trader who uses a flat +5 as his first lock-in.
  • #7,408
  • Oct 5, 2016 1:43pm Oct 5, 2016 1:43pm
Thanks lemercenaire I didn't draw my lines accurately , won't do that again! I will learn from my mistake and move on .
  • #7,409
  • Oct 5, 2016 2:07pm Oct 5, 2016 2:07pm
Quoting wannalearn12
{quote} so in total your trades went to +10 pips, if you moved stop to be+1 at +5. Now let me ask you this, how many be+1's do you encounter? Take all of those at +5 and I am sure you can see where I am going...
All my holo trades until now,I still testing this system. Only 14 trades closed. I need more trades for statistic.
I using EA for position manage. Sometime Im not during trade at computer,that's why I using this settings: +5 move to BE+1,TP 10 pips.

+5pips lock 1 pip,TP 10 pip:
AUDUSD+1
GBPUSD+10
NZDUSD+1
NZDUSD+10
NZDUSD-7
USDCAD+10
USDJPY+1
EURJPY+10
EURUSD+1
GBPUSD+1
USDCAD-9
USDJPY+1
USDJPY+10
USDJPY-9
-------------
Total 31 pips

Alternative TP 5pips:
AUDUSD+5
GBPUSD+5
NZDUSD+5
NZDUSD+5
NZDUSD-7
USDCAD+5
USDJPY+5
EURJPY+5
EURUSD+5
GBPUSD+5
USDCAD-9
USDJPY+5
USDJPY+5
USDJPY-9
--------------
Total 30 pips
  • #7,410
  • Oct 5, 2016 2:14pm Oct 5, 2016 2:14pm
During the last 2-3 weeks I was working on this strategy to move it to the automated trading. I focused on the USD/GBP pair. I applied following rules (describe for short but the same I did for long but the opposite).
1. Set highest today open on 1H chart
2. Set highest price for today (cannot be higher than the highest point of the previous day, if so I do not trade short this day anymore)
3. The 15M bars close in the range of highest open and highest price
4. When the price fall down and cross the highest open price open short
5. Set stop loss above highest point of the day + 1 pip
6. If the trade is over 5 pips profit, set new trailing stop
7. Tralling stop values:
a)first stop loss value is BE+1 (so open price of the trade -1pip)
b)stop loss is move lower when trade makes another 10pips profit
8. Open trade between 14 and 22 London time.

The results does not include commissions.
In attachment you can find the results of the back testing for the period of 01.01.2016 - 30.09.2016.
I'm afraid that I'm missing something or the position management does not work at all. Any toughs/advice?
Attached File(s)
File Type: xlsx results.xlsx   29 KB | 786 downloads
  • #7,411
  • Oct 5, 2016 2:37pm Oct 5, 2016 2:37pm
Quoting WoS
{quote} All my holo trades until now,I still testing this system. Only 14 trades closed. I need more trades for statistic. I using EA for position manage. Sometime Im not during trade at computer,that's why I using this settings: +5 move to BE+1,TP 10 pips. +5pips lock 1 pip,TP 10 pip: AUDUSD+1 GBPUSD+10 NZDUSD+1 NZDUSD+10 NZDUSD-7 USDCAD+10 USDJPY+1 EURJPY+10 EURUSD+1 GBPUSD+1 USDCAD-9 USDJPY+1 USDJPY+10 USDJPY-9 ------------- Total 31 pips Alternative TP 5pips: AUDUSD+5 GBPUSD+5 NZDUSD+5 NZDUSD+5 NZDUSD-7 USDCAD+5 USDJPY+5 EURJPY+5 EURUSD+5 GBPUSD+5...
I am sure you can use your judgement of which is better % wise.
  • #7,412
  • Oct 5, 2016 2:40pm Oct 5, 2016 2:40pm
Quoting WoS
{quote} All my holo trades until now,I still testing this system. Only 14 trades closed. I need more trades for statistic. I using EA for position manage. Sometime Im not during trade at computer,that's why I using this settings: +5 move to BE+1,TP 10 pips. +5pips lock 1 pip,TP 10 pip: AUDUSD+1 GBPUSD+10 NZDUSD+1 NZDUSD+10 NZDUSD-7 USDCAD+10 USDJPY+1 EURJPY+10 EURUSD+1 GBPUSD+1 USDCAD-9 USDJPY+1 USDJPY+10 USDJPY-9 ------------- Total 31 pips Alternative TP 5pips: AUDUSD+5 GBPUSD+5 NZDUSD+5 NZDUSD+5 NZDUSD-7 USDCAD+5 USDJPY+5 EURJPY+5 EURUSD+5 GBPUSD+5...
Do you calculate spread + wining pips per ech trade, Just curios?
  • #7,413
  • Oct 5, 2016 3:04pm Oct 5, 2016 3:04pm
Quoting mizi123
{quote} Do you calculate spread + wining pips per ech trade, Just curios?
I'm calculate only winning pips. I take 1 pip,10 pips profit or stop loss maximum 10 pips.
  • #7,414
  • Oct 5, 2016 3:48pm Oct 5, 2016 3:48pm
Hi guys
here is the nice indi to show your stats what you have down
you can set date and open closing trades on it
I think its better take a picture and post your results instead off typing them
just throw it on any empty charts set the settings and there you go
here is how looks like
all the best
Alex
Attached Image (click to enlarge)
Click to Enlarge Name: SILVERH4.png Size: 78 KB
Attached File(s)
File Type: ex4 TradeReport.ex4   79 KB | 566 downloads
File Type: mq4 TradeReport.mq4   50 KB | 752 downloads
Stay GREEN my friends........
  • #7,415
  • Oct 5, 2016 4:25pm Oct 5, 2016 4:25pm
Quoting alexforex541
Hi guys here is the nice indi to show your stats what you have down you can set date and open closing trades on it I think its better take a picture and post your results instead off typing them just throw it on any empty charts set the settings and there you go here is how looks like all the best Alex {image} {file} {file}
Thank you for contributing.
Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #7,416
  • Edited 6:07pm Oct 5, 2016 5:40pm | Edited 6:07pm
Quoting alexforex541
Hi guys here is the nice indi to show your stats what you have down you can set date and open closing trades on it I think its better take a picture and post your results instead off typing them just throw it on any empty charts set the settings and there you go here is how looks like all the best Alex {image} {file} {file}
When trading off multiple screens, the last thing I want to be doing is filling in data on a form, sorry. It's easier to quickly grab a screen shot and type +1, +5, whatever. Fair play if others want to use it - not for me.
  • #7,417
  • Oct 5, 2016 5:56pm Oct 5, 2016 5:56pm
Quoting TooSlow
{quote} Thank you for contributing. Cheers!
Stay GREEN my friends........
  • #7,418
  • Edited 8:01pm Oct 5, 2016 6:06pm | Edited 8:01pm
Quoting pulkownik
During the last 2-3 weeks I was working on this strategy to move it to the automated trading. I focused on the USD/GBP pair. I applied following rules (describe for short but the same I did for long but the opposite). 1. Set highest today open on 1H chart 2. Set highest price for today (cannot be higher than the highest point of the previous day, if so I do not trade short this day anymore) 3. The 15M bars close in the range of highest open and highest price 4. When the price fall down and cross the highest open price...
This again...

Think how much experience you could have gained actually trading manually over 3 weeks. Maybe it's just me but it seems we've been down this road before and HOLO just doesn't translate over to automation (not much - anything? - does, let's face it). Although the method is rule-based, not every trade is taken. I know if you sat TS, PtG, Michael G and myself in a room and had us trade the same pairs, same session et al, we would come out of that room with completely different results. All of us - and all of you trade in different ways. We have different biases. I like certain circumstances and set-ups over others, even if all those set-ups have HOLO rules boxes ticked. The others like their own preferences. We often trade different sessions for a start. (I am willing to bet that we'd all be in profit, though).

Look at four of our newest members, wannalearn12, WoS, Hornet and LinFX. All have come at HOLO from different angles, all have applied themselves to learning the method for themselves, guided by ourselves - guided, not spoon-fed - and are making a success of it. ALL of them are getting different results - ALL are bagging pips.
ALL of them are doing so in very subtle, different ways. All from the same set of rules. Can any EA replicate that?

I know for sure, looking at your results, that I have never had stops as big as -25.8pips, never mind -43.4, not even on 1-2-3 trades which do have bigger stops than HOLO, so something is immediately wrong there.

With respect, you would be better off automating a method like H1 or Daily close over 5-sma - something along those lines, something that catches a trend.

Sorry again, don't mean to flame - I have admitted to a hatred of EAs before and I bear you no ill-will but for me, you're wasting your time. Feel free to shoot me down.
  • #7,419
  • Oct 5, 2016 6:17pm Oct 5, 2016 6:17pm
Quoting lemercenaire
{quote} This again... Think how much experience you could have gained actually trading manually over 3 weeks. Maybe it's just me but it seems we've been down this road before and HOLO just doesn't translate over to automation (not much - anything? - does, let's face it). Although the method is rule-based, not every trade is taken. I know if you sat TS, PtG, Michael G and myself in a room and had us trade the same pairs, same session et al, we would come out of that room with completely different results. All of us - and all of you trade in different...

"Can any EA replicate that?"


Not a chance. Forget it.
I know of at least one other attempt outside of this beautiful forum and that wasn't profitable either using the guidelines as per post #1.

All that is replicated so far is the proof that EAs don't work for this.
It takes courage to grow up and become who you really are - E.E. Cummings
  • #7,420
  • Oct 5, 2016 7:27pm Oct 5, 2016 7:27pm
Hi all!

In Asian session I'll be focusing on AU only (for now):

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 64 KB


Profit locked at BE+5, ready for the Red news in 5 minutes.

Update: out at BE+5 I was anticipating the news movement, should have move stop to BE+10. But we have Rule #5, so no problem
Simplicity is the key to brilliance
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