Attachments: Highest Open / Lowest Open Trade

Highest Open / Lowest Open Trade

#9,261
Dec 9, 2016 4:54am Dec 9, 2016 4:54am

lemercenaire
Joined Oct 2015 | Status: Trader | 18,269 Posts

Quoting acdfx

Disliked

TooSlow / anyone else, I'm really trying to get 1-2-3 and HOLO down (I think I'm getting close!) so I wrote this out comparing the two, does this look ok? (Yes I've read everything multiple times lol) 1-2-3 vs. HOLO 1-2-3: - We are trading the H1 bar directly after the H1 bar where a new Daily high/low was made - Price must go from the current H1 open towards the daily high/low and fail to reach it (test) - At any point during the current 1H candle that price returns to its open level, open the trade (price can be viewed at any timeframe; price...

Ignored

Yes, you got it.

''...creating a doji/bear H1 candle for sell and doji/bull H1 candle for buy''. You don't need to think about candle shapes, Nowhere in TS' rules will you ever find mention of looking for candle shapes.

''M5 candle must open between H1 open and extreme Does this mean M5 candle must open between HOLO level and daily high/low?''. If you think about it, this is obvious - as if the candle opens above / below the extreme, you'd be in a BreakOut and you don't trade BreakOuts.

#9,262
Dec 9, 2016 5:53am Dec 9, 2016 5:53am

TooSlow
Joined Mar 2012 | Status: Trader | 14,313 Posts | Online Now

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade

#9,263
Dec 9, 2016 6:12am Dec 9, 2016 6:12am

TooSlow
Joined Mar 2012 | Status: Trader | 14,313 Posts | Online Now

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade

#9,264
Dec 9, 2016 6:16am Dec 9, 2016 6:16am

TooSlow
Joined Mar 2012 | Status: Trader | 14,313 Posts | Online Now

IT’S THE FEAR OF FEAR YOU FEAR

“Oddly, it’s not even calling a stranger or making a speech that generates our fear, it’s the anticipation of doing it—which is, once again, an illusion of the mind.

In the 1960s, a researcher named Seymour Epstein got curious about skydivers. He fitted novice parachutists with heart rate monitors that measured their pulses as their plane climbed toward the release point. He found that—as you might expect—while still safe inside the plane, a jumper’s heart rate got faster and faster as the plane ascended. The higher the plane went, the higher the anxiety.

What he didn’t expect to find, however, was that once they threw themselves out the door of the plane and started hurtling toward the Earth with only a few thin cords and a glorified bedsheet to keep them from impending doom, their heart rates declined dramatically, and they admitted to quite enjoying themselves.

The most stressful part of the entire experience was the illusion of how frightening the event would be, or, in other words, the anticipation of fear. Once the reality of the event took over, the fear vanished.”

– Darren Hardy

My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade

#9,265
Dec 9, 2016 7:23am Dec 9, 2016 7:23am

hrvoje
| Joined Sep 2016 | Status: Trader | 44 Posts

how do you guys manage your risk, since in my experience, the risk is always a lot bigger than reward?

#noFomo

#9,266
Dec 9, 2016 7:47am Dec 9, 2016 7:47am

TooSlow
Joined Mar 2012 | Status: Trader | 14,313 Posts | Online Now

Quoting hrvoje

Disliked

how do you guys manage your risk, since in my experience, the risk is always a lot bigger than reward?

Ignored

Read the thread.
Risk has been discussed and dissected.

My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade

#9,267
Dec 10, 2016 12:11am Dec 10, 2016 12:11am

acdfx
| Joined Nov 2016 | Status: Trader | 23 Posts

lem,
I know candle shapes aren't necessary but it made it easier for me to understand

Glad I got it! I'm getting there

#9,268
Dec 10, 2016 12:12am Dec 10, 2016 12:12am

acdfx
| Joined Nov 2016 | Status: Trader | 23 Posts

Does anyone know of/use an indicator/EA that gives alerts any time a new daily high/low or H1 HOLO is made, across all the pairs? I have no problem waiting for setups, but I imagine this would save a ton of time.

#9,269
Dec 10, 2016 1:07am Dec 10, 2016 1:07am

ikdenk
| Joined Nov 2009 | Status: Trader | 789 Posts

Quoting acdfx

Disliked

Does anyone know of/use an indicator/EA that gives alerts any time a new daily high/low or H1 HOLO is made, across all the pairs? I have no problem waiting for setups, but I imagine this would save a ton of time.

Ignored

Yes, I use it.

It is very handy.

You'll find it under the paperclip.

#9,270
Dec 11, 2016 7:57am Dec 11, 2016 7:57am

TooSlow
Joined Mar 2012 | Status: Trader | 14,313 Posts | Online Now

Most vs. Enough

It's easy to be confused about the difference.

"Most" as in the best, the fastest, the cheapest.

"Enough" as in good enough. And that means just what it sounds like.

If you run an ambulance company, you need to be the fastest at response. (The "most quick"). Anything else is a reason for potential users to switch.

On the other hand, if you're delivering flowers, 'fast enough' is plenty fast.

Everyone competes on something. That thing you compete on is your most. The other things you do, those need to be enough.

The two mistakes organizations and freelancers make:
1.They try for 'most' at things were 'enough' is just fine, and they waste their effort.
2.They settle for 'enough' when the market is looking for the one with the 'most'.

The only way to maximize your most is to be really clear where your enough is.

- Seth Godin

My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade

#9,271
Dec 11, 2016 8:57am Dec 11, 2016 8:57am

TooSlow
Joined Mar 2012 | Status: Trader | 14,313 Posts | Online Now

What is important:

Have a habit of eliminating what is not useful

My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade

#9,272
Dec 11, 2016 8:58am Dec 11, 2016 8:58am

TooSlow
Joined Mar 2012 | Status: Trader | 14,313 Posts | Online Now

Who is taking the 10 trade challenge the week of December 11, 2016?

During the challenge you are only to trade the same pair.
Beginners do not get to trade multiple pairs until they have mastered trading one single pair.
GREEN PIPS TO ALL.
Cheers!

My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade

#9,273
Dec 11, 2016 8:17pm Dec 11, 2016 8:17pm

Eve55
| Joined Sep 2016 | Status: Trader | 138 Posts

Quoting TooSlow

Disliked

Who is taking the 10 trade challenge the week of December 11, 2016? During the challenge you are only to trade the same pair. Beginners do not get to trade multiple pairs until they have mastered trading one single pair. GREEN PIPS TO ALL. Cheers!

Ignored

#9,274
Dec 11, 2016 11:22pm Dec 11, 2016 11:22pm

Eve55
| Joined Sep 2016 | Status: Trader | 138 Posts

Quoting TooSlow

Disliked

Who is taking the 10 trade challenge the week of December 11, 2016? During the challenge you are only to trade the same pair. Beginners do not get to trade multiple pairs until they have mastered trading one single pair. GREEN PIPS TO ALL. Cheers!

Ignored

1. EURUSD business, we'll see how goes

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#9,275
Dec 11, 2016 11:27pm Dec 11, 2016 11:27pm

Eve55
| Joined Sep 2016 | Status: Trader | 138 Posts

Quoting TooSlow

Disliked

Who is taking the 10 trade challenge the week of December 11, 2016? During the challenge you are only to trade the same pair. Beginners do not get to trade multiple pairs until they have mastered trading one single pair. GREEN PIPS TO ALL. Cheers!

Ignored

1st SL - about bad timing