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Highest Open / Lowest Open Trade

  • #7,861
  • Oct 13, 2016 11:56am Oct 13, 2016 11:56am
Quoting dominus
Can you post V2.3 for the dashboard? {quote}
You can find it here: http://www.forexfactory.com/showthread.php?t=593119
Best to go to the original source because that is where you will find the latest fixes and updates.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #7,862
  • Oct 13, 2016 12:19pm Oct 13, 2016 12:19pm
Quoting TooSlow
{quote} You can find it here: http://www.forexfactory.com/showthread.php?t=593119 Best to go to the original source because that is where you will find the latest fixes and updates.
Thanks!
  • #7,863
  • Oct 13, 2016 12:19pm Oct 13, 2016 12:19pm
Quoting Rocket101
{quote} Hi Lemercenaire, Thank you! It is not by my expert trading. It is because of the teachings on this thread. I am a novice. Started about 6 months ago on demos. So, no special skills here! How did you bag your trades? I cannot watch the trader constantly. I am using the smHiLO DashBoard EA_v2.3 that SwingMan created (Thank you SwingMan!) I trade multiple pairs but only 1 trade per pair. 1) The Dashboard signals a potential trade. 2) Click on the pair on the Dashboard to open the chart. 3) Load the template that TooSlow created. (Thank you...
Thanks for giving us that breakdown on your process, Rocket101. Hopefully you will help inspire other new guys who are wondering about HOLO. Glad to have you here.
  • #7,864
  • Oct 13, 2016 12:21pm Oct 13, 2016 12:21pm
Yes, he is inspiring me!

Quoting lemercenaire
{quote} Thanks for giving us that breakdown on your process, Rocket101. Hopefully you will help inspire other new guys who are wondering about HOLO. Glad to have you here.
  • #7,865
  • Oct 13, 2016 12:27pm Oct 13, 2016 12:27pm
Quoting dominus
Yes, he is inspiring me! {quote}
Brilliant - remember, like attracts like. Success breeds success. It's all good.
  • #7,866
  • Oct 13, 2016 12:55pm Oct 13, 2016 12:55pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #7,867
  • Oct 13, 2016 1:28pm Oct 13, 2016 1:28pm
Attached Image (click to enlarge)
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Avoid Getting Freight Trained

Look at the last 3 green candles on the chart.
When you are in a trade and
Price fails to penetrate the middle of the previous candle and
Reverses back towards your entry
You may be looking at a FREIGHT TRAIN.
Take your BE+1 or BE.
Then refer to Rule #5.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #7,868
  • Oct 13, 2016 1:31pm Oct 13, 2016 1:31pm
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow2.png Size: 54 KB


Take a step back and
Zoom out.
Look at the H4 chart.
More price points.
Easier to avoid a freight train when you see it from a distance
Rather than up close.

Attached Image
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #7,869
  • Oct 13, 2016 1:48pm Oct 13, 2016 1:48pm
I understand what you meant with the 1H TF, about the price not being able to break the previous candle's mid point. But I don't understand what should I look at in the 4H TF. I see that there was a strong uptrend for 3 candles and that the candle broke prevous day's high. Is that it? Sorry for my incompetence on this matter.

Quoting TooSlow
{image} Take a step back and Zoom out. Look at the H4 chart. More price points. Easier to avoid a freight train when you see it from a distance Rather than up close. {image}
  • #7,870
  • Oct 13, 2016 1:50pm Oct 13, 2016 1:50pm
Quoting TooSlow
{quote} The one that plots the BLACK DASHED LINES: _ _ _ _ _ +n

Yes the Black Dashed Lines``...can you share aosora pls?
  • #7,871
  • Oct 13, 2016 2:04pm Oct 13, 2016 2:04pm
Hi guys, new to this thread just reading from the beginning. This question may have been answered already:

Say a H1 opens and that is the highest H1 open. The area of interest is between the H1 highest open and the high of the day. I zoom down to M15/M5 and wait for a candle to open in the area of interest.

If I miss the first trade on a M15/M5 candle that opens in the area of interest and it sells off, can I take the trade later if a new M15/M5 candle opens in the SAME area of interest or is the trade down?


Thanks!
  • #7,872
  • Oct 13, 2016 2:05pm Oct 13, 2016 2:05pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #7,873
  • Oct 13, 2016 2:12pm Oct 13, 2016 2:12pm
Quoting dominus
I understand what you meant with the 1H TF, about the price not being able to break the previous candle's mid point. But I don't understand what should I look at in the 4H TF. I see that there was a strong uptrend for 3 candles and that the candle broke prevous day's high. Is that it? Sorry for my incompetence on this matter. {quote}
dominus, this is a friendly thread.
No need to apologize for asking questions.

I see that there was a strong uptrend for 3 candles and that the candle broke prevous day's high. Is that it?

Do you not trust your own eyes?
Do you not have faith in your judgment?
Could you see that uptrend on M1? M5? M15? M30? H1?


"Successful people ask better questions, and as a result, they get better answers." - Tony Robbins

Socratic method is named after the classical Greek philosopher Socrates. It is a form of inquiry and discussion between individuals, based on asking and answering questions to stimulate critical thinking and to illuminate ideas.

"Perfection is not when you have nothing more to add, but when you have nothing more to take away." - Antoine De Saint Exupery

"It is not about adding on, but taking away. The less technique, the better you are." - Bruce Lee


Please understand none of this is original or new and this is presented for EDUCATIONAL PURPOSES ONLY. You may find your results may differ. Please check with an accredited financial specialist before using real money. FOREX trading can be risky. YOU HAVE BEEN WARNED!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #7,874
  • Oct 13, 2016 2:18pm Oct 13, 2016 2:18pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #7,875
  • Oct 13, 2016 2:25pm Oct 13, 2016 2:25pm
I see. The thing is I've been trading reversals on the daily charts and 12H charts so far. And it's been good if you have the patience to wait for the right setup. And if I see a strong uptrend when trading your method, I feel that the price should reverse if it reaches the area of interest. But it's different I guess. When I looked into your other thread, there was said something about buying in an uptrend instead of selling. I have to read it carefully.


Quoting TooSlow
{quote} dominus, this is a friendly thread. No need to apologize for asking questions. I see that there was a strong uptrend for 3 candles and that the candle broke prevous day's high. Is that it? Do you not trust your own eyes? Do you not have faith in your judgment? Could you see that uptrend on M1? M5? M15? M30? H1? "Successful people ask better questions, and as a result, they get better answers." - Tony Robbins Socratic method is named after the classical Greek philosopher Socrates. It is a form of inquiry and discussion between individuals,...
  • #7,876
  • Oct 13, 2016 2:33pm Oct 13, 2016 2:33pm
Quoting dbdan
Hi guys, new to this thread just reading from the beginning. This question may have been answered already: Say a H1 opens and that is the highest H1 open. The area of interest is between the H1 highest open and the high of the day. I zoom down to M15/M5 and wait for a candle to open in the area of interest. If I miss the first trade on a M15/M5 candle that opens in the area of interest and it sells off, can I take the trade later if a new M15/M5 candle opens in the SAME area of interest or is the trade down? Thanks!
Welcome to the thread, dbdan.

Attached Image
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #7,877
  • Oct 13, 2016 3:28pm Oct 13, 2016 3:28pm
Quoting dominus
I see. The thing is I've been trading reversals on the daily charts and 12H charts so far. And it's been good if you have the patience to wait for the right setup. And if I see a strong uptrend when trading your method, I feel that the price should reverse if it reaches the area of interest. But it's different I guess. When I looked into your other thread, there was said something about buying in an uptrend instead of selling. I have to read it carefully. {quote}
Yes.
Price will reverse.
Sooner or later.
Have to wait.

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #7,878
  • Oct 13, 2016 3:57pm Oct 13, 2016 3:57pm
Quoting dbdan
Hi guys, new to this thread just reading from the beginning. This question may have been answered already: Say a H1 opens and that is the highest H1 open. The area of interest is between the H1 highest open and the high of the day. I zoom down to M15/M5 and wait for a candle to open in the area of interest. If I miss the first trade on a M15/M5 candle that opens in the area of interest and it sells off, can I take the trade later if a new M15/M5 candle opens in the SAME area of interest or is the trade down? Thanks!
Hi dbdan. Welcome aboard. Did you take TS's advice and go read Post #1? Did you find your answer there?
  • #7,879
  • Oct 13, 2016 4:10pm Oct 13, 2016 4:10pm
Quoting lemercenaire
{quote} Hi dbdan. Welcome aboard. Did you take TS's advice and go read Post #1? Did you find your answer there?
Hi lemercenaire. Thanks for the welcome!

I've read through Post #1 numerous times and looked at the graphically examples. I didn't really find my answer but I'm assuming no you wait until another H1 high open or low open.

I'm slowly reading through all the posts.
  • #7,880
  • Oct 13, 2016 4:30pm Oct 13, 2016 4:30pm
@TooSlow: Looks quite good so far - althought there may be some critical trades during strong up/down days (see possible trades far right in image. However, I haven't even read 10 % of your thread and thus I'm sure that I've missed some points ...


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