Highest Open / Lowest Open Trade

Here are 2 suggestions for dealing with
the scary situation where the market throws
a punch and you take a loss:

1. The Hunter: Fearlessly set pending orders (like traps)
   where your original trade was, and be ready. There is a
   good chance that the market move which took out your
   trade will end up being short-lived. Scary is a market
   that races 125 pips against you. Hilarious is the market
   that races 225 pips back again! You laugh at the spooks
   when you're ready and waiting. When it fails to progress,
   that squirrely market comes racing back to your planned
   trade setup.
2. The Fighter: You take it in stride. Close your trade with a
   loss. The market got a punch in because it did not do what
   you expected. When you feel nothing, like the fighter, you
   immediately look for a new target that this impulse in price
   action is aiming for. Do you see it? Then change your plan
   as fast as the market does. Open a trade in the opposite direction,
   and close when you get to the new target, or when you have at
   least half your loss recovered. Change did not scare you,
   you rolled with the punches.

- Jennifer Thornburg

Well then, that was a day.

Pretty dire start with nothing much of anything happening ended up lighting up big-time.

EURUSD long called in the morning alongside an even nicer triple-dip long on GBPUSD.

GBPNZD was the dream-ticket on the day though, with either a HOLO or a 1-2-3 option for us. I took the possibly switch-hitting 1-2-3 and bagged big. HOLO would have worked but probably would have bagged about half due to the ways I trail being different.

The EURJPY myself, Wannalearn and TS were all stalking paid out, though thought it was going to go bigger.

There was a great-looking short on EURGBP but it only dipped the line, even down on the m1 and I didn't take it - missed a big pay out.

Only loss bizarrely was on the GBPCHF which if I had had to pick only one for doing well, I would have chosen to do the job - did sweet fa and brought a loss, albeit small and totally forgettable, especially on the rest of the day's bagged pips.

Just shows why we should all listen to TooSlow when he reminds us of the importance of being patient. HOLO will do what HOLO does best. Just be in place ready to go.

Waiting is the hardest part of HOLO.

Waiting for more profit.

MARKET INSIGHT: Money Management

http://www.optionetics.com/marketdat....aspx?aid=8558

How To Make A Million In 40 Trades


http://www.tradeology.com/million-dollar-trade.html

Hi TooSlow and traders!,

Ive decided to take up the challenge for this week, although Im not going for 10 trades as I just want to do 1 trade per day. Actually Im aiming for 1% per day, and only increase % and trades when I get more comfortable. Been burned too much overtrading in the past so want to do this right from now on.

Here is my first trade of the week:


It was a bit of a risky one, just after the breakout but I liked the big retracement wick on the entry bar. It probably got pulled along by the violent move on JPY pairs at London opening this morning after the BoJ rate cut.

Thanks for showing the way TooSlow.

Rocksolidfx - You didn't wait for closing H1?

AUDJPY Looks ok but tempered by the Daily position. Though that could be due a drop it is above the weekly pivot.

H1


Daily


When you look at H4, it could restore some confidence, as we are looking at a 1-2-3 on that time-frame...

H4

GBPUSD At first you'd think you were on to a good thing - but I am cautious here, as the USD is taking a beating against the CHF, AUD and more importantly, the EUR at the moment, so I'd be looking at Cable to follow...

Going by this morning, I'd be looking at some reaction movement by the USD at the US Open.

Hi rocksolid. You're kind of contradicting yourself, no? You are looking to limit yourself to one trade per day and guard against over-trading. Now I'd assume you'd want that one trade to be as perfect a set up as you could get, right? So you then jump into a trade on a BreakOut bar. Big warning at the bottom of your screen there.

Now, you can balance that by saying that what you're seeing is pretty much a 1-2-3 set up and as you say, price-action would seem to be on your side - but I can hear TooSlow now...where does it say anything about price-action in the rules? Or it's ok to break rule #1 if it looks like you might get a 1-2-3 set up?

Do you see what I am saying? You don't say whether this is your single pair - I'd then have to assume so. If so, then of course you are going to be limiting your opportunities and it's oh-so-tempting to play first-man-up...but really, if you are breaking not only TS's rules but your own self-imposed ones on top of that, then you are setting yourself up for a fall.

Sorry if this sounds overly harsh - I don't mean it to, I am happy to see you here and it's great you are taking the challenge. Just be aware - and remember, the markets bite if you poke them in the eye too often.

Is this the strat here?
http://www.forexstrategiesresources....00-pips-daily/

Looks like it's trading the break of daily high/lows in the Asian session. That font is something nasty, I wouldn't trust that font with my life.

not.
HOLO isnt exactly a "set and forget" system, if you read the rules.

That site rips off other people's code and ideas.