Highest Open / Lowest Open Trade

Someone "liked" my post in another thread:

The results have nothing to do with experience or skill per se.
The results have everything to do with discipline.
Either the trade is entered or it is not entered.
There is no skill involved.
Do you have the discipline to enter when the signal is present without hesitation or second guessing?
Do you have the discipline to set your stops immediately?
Do you have the discipline to move your stops when appropriate?

What happens after you enter has nothing to do with your skill.
The market determines what happens next.

A poster talked about filtering in one of my threads today.
There more you filter the more chances get filtered out.
Until there are no entry signals at all.

Adding more indicators does not effect what happens after you enter.
Nor does looking at more time frames.
Best to pick one pair, one timeframe and stick with them.

This method appears to work very well using M15 charts.
All you need is the discipline.

Hi. Sorry if I am getting this wrong but as in the pic, it does seem as though the H1 was a BO candle.
If you cannot read my scrawl (it's difficult to write using that tool!!!) what it says is, that if the 5 min candles on the left are in the H1 candles on the right, then that is an H1 breakout, as they have made a new Daily low.
If this is not the case, then my apologies!

the market pays you to be disciplined ...

Thank you for posting the Mantra PDF.

Half-Time at the Orange Bowl and as good a time as any to say hi-and-bye to TooSlow and 2016's HOLO Crew.

Have fun at the weekend and see you all back here in 2017...

Hi！lemercenaire
at that time The new hourly candle has yet to break through today's lows and I trade in a 5-minute candle to enter.
Thank you for your patience to reply!
Add one, you art Text in the picture I can not read one!

yes！TooSlow、lemercenaire and 2016's HOLO Crew，2017 Happy Year of the Rooster!

Ok - if the H1 candle has not made a new H or L, then it's not a breakout. No worries! It's all good.

That's beautiful - thank you!

Brokers must love this strategy, they must make a lot of money from it

not entirely sure if you got your math right
my live 'HOLO' experience after a couple dozen trades is GREEN.
lets emphasize on the words : live trading experience!!

but everyone to their own. i think the brokers love high frequency EAs that curve-fitted by losers to losers.
but that is me.

Happy New Year to all!

With a name like priceaction9, one would think you would know better.
Thanks for starting 2017 negatively.

[quote=TooSlow;8986178]PLEASE READ AND COMMENT OVER THE WEEKEND This was sent to me: Hey there, Quick question for you... WHAT'S HOLDING YOU BACK? I've asked hundreds of people this same exact question...and I've heard hundreds of unique reasons. The answers are a virtual laundry list of problems ranging from the terrible government...to rough childhoods...to horrible jobs...and just about everything in between. It's also a question that I've asked myself hundreds of times....and came up with my own unique excuses each time. My justifications ran the gamut of not coming from money...to having too many freckles...to a priest almost beating me up...and so much more (depending on the day and how I "felt"). But guess what I've discovered? None of those things were to blame. There was (and is) only one real enemy and I live with it every minute of every day... The 3-Letter "Enemy" There's an old African proverb that says, "If there is no enemy within, the enemy outside can do us no harm". So who is this enemy? It's your EGO and if you can defeat or "tame" it...your life will change forever. This is exactly what author Ryan Holiday walks us through in his excellent new book, aptly titled, EGO IS THE ENEMY. This book is a quick (but jam-packed with takeaways) read which offers invaluable advice on how to overcome our worst enemy...and do our best work. So...What's the Problem with Ego? As I was reading Ryan's book,

TooSlow posted this back in June. And seeing as it is the weekend. I am a bit behind as I am reading the entire thread but thought I would comment.

One person commented at the time. I took it quite literally and went down to the library and got the book, read it and wrote a review on Goodreads and LibraryThing.



Though I question Ryan's credentials to write the book and the formula he used to write it, much here is worthwhile and enlightening. I would encourage reading it.

Holiday ascribes to the philosophy of Stoicism, and I like Stoicism. I find it particularly useful in trading.

He focuses his writing on aspects of ego and how it drives much of what we do in life. He profiles a number of individuals such as Howard Hughes, U.S. Grant, Andrea Merkel, Jackie Robinson, John Delorean, Katharine Graham, Bill Walsh, and many more.

One interesting profiles was on Ty Warner. Warner created Beanie Babies and his company Ty, Inc. In 1998 alone he generated $700 million in personal income. Warner decided to salt away about $100 million in a UBS account in Switzerland to avoid taxes. He was caught and convicted in 2014. He was sentenced to 2 years probation, community service, and a $100,000 penalty. His attorney was a former Deputy Director of the IRS.

Holiday claimed the company eventually failed. Last I checked the company is still the number one manufacturer of plush toys in the world and he is worth about $2.3 billion. So I am not sure what he was driving at there other than the moral aspects.

I believe trading success is about 80% of what goes on or not upstairs and 20% about the method. Yet most of us focus our energies and inquiries about tweaking the method. Many posts TooSlow has put on here are aimed at focusing on ourselves, and that 80%. I find them to be gold. Thank you TooSlow for posting these.

Eventually I will complete the thread, reread post one again and again and apply it one one pair. I will then take what works for me and discard the rest. And I will always be looking forward to these types of posts that encourage me to examine and work on the personal aspects related to trading.

A few quotes from the book I liked:

"You can't learn if you think you all ready know." -- Epictetus

"A true student is like a sponge. Absorbing what goes on around him, filtering it, latching on to what he can hold."

"When the student is ready the teacher will appear." -- An Old Proverb

"And why should we be angry at the world? As if the world would notice!" - Euripides

"The height of cultivation runs to simplicity." -- Bruce Lee

Interesting strategy.
Timing is everything.
Small youtube video with live examples would do miracles for everybody to understand.
Also at what time do we count the HOLO? Europe open? US open?

Stick the indi / template on your chart(s). Your day starts at the start of your broker's day as soon as you feel you have enough info to work with.

Nothing negative there, you can have a winning strategy that make you and your broker a lot of money.

Never said it was a losing strategy.

You can have the fastest car, but if without fuel, walking can beat it by multiples in speed.
Trading comes with a cost, there is no way around that.
HOLO has a rule, 1 trade per H1 bar, ( if there is any meeting entry rules), hardly a high frequency activity.

Who is taking the 10 trade challenge the week of JANUARY 1, 2017?

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!

I will take the challenge...9 more trades to go with the usdcad... :-)

Off and running in '17. First trade took a bit of a risk on this GJ but it panned out for +5. It had strong upward momentum and had broken through yesterday's high. It was also ahead of news, but I was not on the break out bar and it worked.