Disliked{image} Wait for setup. Wait for price to get to trigger. PULL THE TRIGGER! That's all there is to do except count your money.Ignored
- #1,941
- Jan 6, 2017 11:45am Jan 6, 2017 11:45am
- | Joined May 2016 | Status: Keep on rockin' me babe | 1,711 Posts
Hello Everyone , A MOST Propsperous 2017 to you all .....Ive been going over the thread again, its too hot in SE Australia to do anything else atm and came across a Brilliant post of Hal........ coloring his entry tags with blue or red for long or short open ... no need to type open or close ... "price label " says it all ... that little thing alone will HELP so many who are maybe struggling with open/close numbers EXCELLENT
HAL ....... SP
HAL ....... SP
- #1,947
- Jan 8, 2017 12:55am Jan 8, 2017 12:55am
- Joined Apr 2011 | Status: Trader | 3,454 Posts
Thanks SP. One of the things you will see Too Slow focus on is simplicity. That is how I try to set up my charts on this thread. The open of the hour is that focus primarily and what direction.
The indicator draws a couple of extra black boxes which may be opens from previous day or something and I have not be able to eliminate them. Less clutter less distraction more focus.
The indicator draws a couple of extra black boxes which may be opens from previous day or something and I have not be able to eliminate them. Less clutter less distraction more focus.
Hal7, showing example of diff broker prices , candle 1 was 1st low of day , candle 2 did not qualify as trade IMO, because the price did not return to open , candle 3 qualified as new LOW imo and entry was on candle 4 as shown , please correct me if I am wrong , thats why I think colored text box would help newbies 
cheers SP
- #1,953
- Jan 8, 2017 2:49pm Jan 8, 2017 2:49pm
- Joined Oct 2015 | Status: Trader | 18,269 Posts
Well, ok, then...
- #1,954
- Jan 8, 2017 3:08pm Jan 8, 2017 3:08pm
- | Joined May 2016 | Status: Keep on rockin' me babe | 1,711 Posts
- #1,956
- Jan 8, 2017 3:46pm Jan 8, 2017 3:46pm
- Joined Apr 2011 | Status: Trader | 3,454 Posts
OK I will weigh in on this since my name was mentioned, let me see if I can muddy the waters a bit 
The rules are pretty clear cut to me on 1-2-3. And that is following that check off, did previous bar make a new low or hi. Simple as that. If current bar fails to make a new low or hi and breaks through its open in the other direction there is your trade.
What can get tricky to me is it seems nearly every bar off that previous hi or low tends to qualify, if by fractions of a pip or several. Usually at the open the price will jump back and forth on that opening price and often it will head back down or up and make a new ho or lo. If you jumped in the trade you are stopped out. And of course the wait is on to the next bar. When a pair is persistently moving in one direction the so called freight train you can get yourself into a few loses. I generally wait to see clear movement one way or other. And that is not always clear either. I like it when a bar moves toward that hi or lo and then turns back to the open. Those seem to fare better. But you will also see those bars that make a fraction of pip toward the lo or hi and the shoot back through the open for many pips. Presently I am looking for the 5 pips then take off about 80% of the trade and look for the run. I am still experimenting with that.
The rules are pretty clear cut to me on 1-2-3. And that is following that check off, did previous bar make a new low or hi. Simple as that. If current bar fails to make a new low or hi and breaks through its open in the other direction there is your trade.What can get tricky to me is it seems nearly every bar off that previous hi or low tends to qualify, if by fractions of a pip or several. Usually at the open the price will jump back and forth on that opening price and often it will head back down or up and make a new ho or lo. If you jumped in the trade you are stopped out. And of course the wait is on to the next bar. When a pair is persistently moving in one direction the so called freight train you can get yourself into a few loses. I generally wait to see clear movement one way or other. And that is not always clear either. I like it when a bar moves toward that hi or lo and then turns back to the open. Those seem to fare better. But you will also see those bars that make a fraction of pip toward the lo or hi and the shoot back through the open for many pips. Presently I am looking for the 5 pips then take off about 80% of the trade and look for the run. I am still experimenting with that.
Had to get away from HOLO for a bit. I don't want to frustrate myself over nuances. I believe I am looking too deeply into what really are very simple rules for engagement (in HOLO), but then I see a post that says use only H1, and poof~ I am lost.
So, with this, 1-2-3, I am following Posts 1 through about post 20, and it is simple. I like the sequential mini charts TooSlow posted with his (badgering?) questions to thread viewers. "Do you take profit"? "Will it go higher?" "Will it go lower?" Next thing you know...you are trading on emotion.
Got's to have RULES Boss Man!
I haven't seen TooSlow's definitive answer yet, but my inclination is that there has to be a trailing stop. PX pulled back 10 pips after being over 50 pips in profit. That is a 20% pullback from peak. But then in the next two mini charts, we see PX returning higher toward the high of the current bar. This where taking 1/2 position off and trailing the other half may come into play. ya think? Anyway, I like the thread TooSlow. I will go back to it and see where it leads me~ It may be a good place for me to regain my confidence before I return to HOLO.
One last thing, This 1-2-3 got me to thinking about something I studied 20 years ago; Market profile. With pencil in hand and a graph paperI made many charts. I am picturing the "bell like" curve of a typical trading day. Where all volume is and how you can fade the upper and lower Price areas. I don't want to overthink it though. It has to as easy as 1-2-3~
So, with this, 1-2-3, I am following Posts 1 through about post 20, and it is simple. I like the sequential mini charts TooSlow posted with his (badgering?) questions to thread viewers. "Do you take profit"? "Will it go higher?" "Will it go lower?" Next thing you know...you are trading on emotion.
Got's to have RULES Boss Man!
I haven't seen TooSlow's definitive answer yet, but my inclination is that there has to be a trailing stop. PX pulled back 10 pips after being over 50 pips in profit. That is a 20% pullback from peak. But then in the next two mini charts, we see PX returning higher toward the high of the current bar. This where taking 1/2 position off and trailing the other half may come into play. ya think? Anyway, I like the thread TooSlow. I will go back to it and see where it leads me~ It may be a good place for me to regain my confidence before I return to HOLO.
One last thing, This 1-2-3 got me to thinking about something I studied 20 years ago; Market profile. With pencil in hand and a graph paperI made many charts. I am picturing the "bell like" curve of a typical trading day. Where all volume is and how you can fade the upper and lower Price areas. I don't want to overthink it though. It has to as easy as 1-2-3~
Took it's sweet time. +5 locked in. See where it goes from here.
Frisco, hi there. With my limited experience with TooSlow's methods, i'm not in a position to offer answers or advise just yet. But i can say that 123 has been easier for me to absorb. Just the H1 chart and so few rules. Plus a major part of it for me is the time it takes for a potential trade to develop. No hurries, lots of time to consider if i'm following 100%. I have been watching HOLO thread and have taken some m15 and m5 HOLO trades, demo of course. But so far, for me, stripping the chart down to the bare minimum has been an eye opener.
I am not trying to tell you what to do. Just letting you know my experience with learning these methods. You'll get it. Patience and practice.
And as i finish this i closed out at +15.
.Still trying to figure out the best way to trail SL.
Frisco, hi there. With my limited experience with TooSlow's methods, i'm not in a position to offer answers or advise just yet. But i can say that 123 has been easier for me to absorb. Just the H1 chart and so few rules. Plus a major part of it for me is the time it takes for a potential trade to develop. No hurries, lots of time to consider if i'm following 100%. I have been watching HOLO thread and have taken some m15 and m5 HOLO trades, demo of course. But so far, for me, stripping the chart down to the bare minimum has been an eye opener.
I am not trying to tell you what to do. Just letting you know my experience with learning these methods. You'll get it. Patience and practice.
And as i finish this i closed out at +15.
.Still trying to figure out the best way to trail SL.