Highest Open / Lowest Open Trade

Hey lemercenaire, thanks for your feedback. Dont worry about coming of harse, that is how we can keep eachother sharp!

"Now I'd assume you'd want that one trade to be as perfect a set up as you could get, right?"
I dont believe in perfect trades. Its either a setup or not.

So you then jump into a trade on a BreakOut bar
I explained my reason for entering in this case and bend the rules. TooSlow has been talking about this too and it was just a situation Ive seen so many times before which gave me the confidence to take the trade. I follow the rules, but I also trade what I see. Could it have failed? Yes.

"Now, you can balance that by saying that what you're seeing is pretty much a 1-2-3 set up"
I have not read the 123 thread yet, so I dont know about those rules/setup

"and it's oh-so-tempting to play first-man-up"
In my experience the first trades are usually the best, this might have to do with that I only trade the first 2 hours of the London session.

"where does it say anything about price-action in the rules?"
I took the trade because I assumed that the GU was being pushed up by the violent moves on the JPY pairs because of the BoJ rate cut earlier this morning, and thus it made sense to assume it will come back down since that had nothing to do with the Sterling or USD. Happens all the time. (Did you look at the GU 1H this afternoon) Ive just seen this happening so many times before... The warning on the screen is just a mechanical reminder.

"You don't say whether this is your single pair - I'd then have to assume so"
Only for this week, according to the challenge.

"the markets bite if you poke them in the eye too often."
TRUE!! Thanks for reminding me

No I didn´t, rule #1 is to not wait for the close but enter when the open price is crossed.

Loving it!

so far managed 2 trades.
trade #11 CADUSD -9.
trade#12 EURJPY BE+1

Pick one pair until you master holo.

i think by now i understand HOLO well enough.
however i am not the master of price moves, just go with the HOLO rules, and see what happens.
sometimes win, sometimes SL.

Money Management article PDF attached.

Oh cool. Thanks.

"Well enough" is not the same as MASTERY.

The Taste of Banzo's Sword

Matajuro Yagyu was the son of a
famous swordsman. His father,
believing that his son's work was
too mediocre to anticipate mastership,
disowned him.

So Matajuro went to Mount Futara
and there found the famous
swordsman Banzo. But Banzo confirmed
the father's judgment. "You wish to
learn swordsmanship under my guidance?"
asked Banzo. "You cannot fulfill
the requirements."

"But if I work hard, how many years
will it take me to become a master?"
persisted the youth.

"The rest of your life," replied Banzo.

"I cannot wait that long," explained
Matajuro. "I am willing to pass through
any hardship if only you will teach me.
If I become your devoted servant,
how long might it be?"

"Oh, maybe ten years," Banzo relented.

"My father is getting old, and soon I
must take care of him," continued
Matajuro. "If I work far more intensively,
how long would it take me?"

"Oh, maybe thirty years," said Banzo.

"Why is that?" asked Matajuro.

"First you say ten and now thirty years.
I will undergo any hardship to master
this art in the shortest time!"

"Well," said Banzo, "in that case you
will have to remain with me for
seventy years. A man in such a hurry
as you are to get results seldom
learns quickly."

"Very well," declared the youth,
understanding at last that he was
being rebuked for impatience, "I agree."
Matajuro was told never to speak of
fencing and never to touch a sword.
He cooked for his master, washed the
dishes, made his bed, cleaned the yard,
cared for the garden, all without a
word of swordsmanship.

Three years passed. Still Matajuro
labored on. Thinking of his future,
he was sad. He had not even begun
to learn the art to which he had
devoted his life.

But one day Banzo crept up behind
him and gave him a terrific blow
with a wooden sword.

The following day, when Matajuro
was cooking rice, Banzo again sprang
upon him unexpectedly.

After that, day and night, Matajuro
had to defend himself from unexpected
thrusts. Not a moment passed in any
day that he did not have to think
of the taste of Banzo's sword.

He learned so rapidly he brought
smiles to the face of his master.
Matajuro became the greatest
swordsman in the land.