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Highest Open / Lowest Open Trade

  • #9,781
  • Jan 9, 2017 7:48pm Jan 9, 2017 7:48pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,782
  • Edited 10:35pm Jan 9, 2017 10:15pm | Edited 10:35pm
Quoting TooSlow
ONE TRADE PER BAR. If you are using M5 bars to enter, one trade per M5 bar. If you are using M15 bars to enter, one trade per M15 bar. If you are using M30 bars to enter, one trade per M30 bar. If you are using H1 bars to enter, one trade per H1 bar.
I have to ask regarding this post TooSlow. Do you know which TF most traders use? I can see the 5 minute adding more activity perhaps, but the rules specifically state new Lower Opens and New Higher Opens. So in that sense, you could see 5 minute volatility while a market is trending intraday, thus generating signal after signal before you get a reversal, then a retest (of Hi or LO), then a signal trigger.

( this next question pertains primarily to use with the H1 bar.)
Here is another observation I have made while reviewing charts hourly Aussie & Yen Charts.
I have seen several times with the H1 bar where a New Hi or Low will come at the Exact Hi or Low (within a tick or two), then reverse, not to return. Yet if I had kept my previous H1 Entry Horizontal line as my trigger....(which is usually at not much a different level than the last new low open or high open)
I would have gotten filled and the trade would have been profitable (or not...hindsight-20-20 you know). I know you have seen this many times. How do you deal with it? The strict side of my rule following says: "Too bad...So Sad...Another trade is around the corner..." But the rule breaking side says: "Go for it! Take as it passes through the previous level!" You adamantly states:

First, read the rules.
Do not add anything to the rules.
Do not subtracted anything from the rules.
Do not modify the rules.
Read the rules, again.

There is my answer.
Follow the rules...so there is my answer...just had to bring it up. truly maddening.
Since I have your attention...One last question: This method looks good for just about any market. Do you know if there has been good success with let's say Bond futures or the S&P index or the Naz index or Soybeans & Lean Hogs? Thanks TooSlow
  • #9,783
  • Jan 9, 2017 10:39pm Jan 9, 2017 10:39pm
Quoting frisco
{quote} I have to ask regarding this post TooSlow. Do you know which TF most traders use? I can see the 5 minute adding more activity perhaps, but the rules specifically state new Lower Opens and New Higher Opens. So in that sense, you could see 5 minute volatility while a market is trending intraday, thus generating signal after signal before you get a reversal, then a retest (of Hi or LO), then a signal trigger. ( this next question pertains primarily to use with the H1 bar.) Here is another observation I have made while reviewing charts hourly...
HOLO is for H1 highest/lowest opens (unless you're PTG).
You can use any time frame bar or you could even use a line chart or no chart at all.
Sell at the highest H1 open and buy at the lowest.
The rest is waiting.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,784
  • Jan 9, 2017 10:43pm Jan 9, 2017 10:43pm
"But until you have mastered HOLO DO NOT CHANGE ANYTHING!!
This is one area of yourself you must master.
Empty your mind.
Leave the rest behind.
Fill it with HOLO.
HOLO is deceptively simple.
You will most likely want to add something.
RESIST THÀT URGE!!
Failure to do so will result in hindering your progress. " (TS: Post #1)

Thank you Too Slow~
  • #9,785
  • Jan 9, 2017 10:43pm Jan 9, 2017 10:43pm
Quoting frisco
{quote} I have to ask regarding this post TooSlow. Do you know which TF most traders use? I can see the 5 minute adding more activity perhaps, but the rules specifically state new Lower Opens and New Higher Opens. So in that sense, you could see 5 minute volatility while a market is trending intraday, thus generating signal after signal before you get a reversal, then a retest (of Hi or LO), then a signal trigger. ( this next question pertains primarily to use with the H1 bar.) Here is another observation I have made while reviewing charts hourly...
Do you know if there has been good success with let's say Bond futures or the S&P index or the Naz index or Soybeans & Lean Hogs?

Works fine with S&P, I also use it on Differential trades. No idea about the others.
  • #9,786
  • Jan 10, 2017 1:44am Jan 10, 2017 1:44am
Great thread TooSlow!!!!

Do you guys go manually through all the charts or have indicator/small dashboard showing currency pairs where the price is ( candle M5 close in zones Hi-Higher Open or Low-Lower Open or in between ) that would help a lot monitoring the market when we could see or get an alert of price going in to the zones of interest

maybe someone can program it?

Wish you many green pips!!!
  • #9,787
  • Jan 10, 2017 1:49am Jan 10, 2017 1:49am
Quoting Forexior
Great thread TooSlow!!!! Do you guys go manually through all the charts or have indicator/small dashboard showing currency pairs where the price is ( candle M5 close in zones Hi-Higher Open or Low-Lower Open or in between ) that would help a lot monitoring the market when we could see or get an alert of price going in to the zones of interest maybe someone can program it? Wish you many green pips!!!
There is a HOLO alert under the paperclip!
  • #9,788
  • Jan 10, 2017 2:44am Jan 10, 2017 2:44am
Quoting Forexior
Great thread TooSlow!!!! Do you guys go manually through all the charts or have indicator/small dashboard showing currency pairs where the price is ( candle M5 close in zones Hi-Higher Open or Low-Lower Open or in between ) that would help a lot monitoring the market when we could see or get an alert of price going in to the zones of interest maybe someone can program it? Wish you many green pips!!!
Personally, I am lucky enough to have a set-up where I can see the pairs quickly. The other way to do it is to have a handful of favourite pairs that you have used and know inside out and stick to them. Also avoid using pairs which aren't being actively traded in whatever session is open at the time. I've never tried the indi that ikdenk mentions.
  • #9,789
  • Jan 10, 2017 2:46am Jan 10, 2017 2:46am
Quoting profitfarmer
{quote} like to second that. personally i either shy away from entries with 15 pips SL or more, or try to use an alternative like a lower TF ( like M5) swing to make it tighter initially a bit. ultimately, there is always another entry, as per rule#5. (for me, 4 trades today, largest SL was set 13.7 pips.) for the TP, tricky subject. the rules are good general guidelines, but as TooSlow once answered for me, it is good to take BE+1 pips, but nothing wrong for example to take +3 pips, or whatever number. another translation, it is ok not to push...
that said, the support and the atmosphere is great on this thread!!

That's so good to hear, thanks!
  • #9,790
  • Jan 10, 2017 2:49am Jan 10, 2017 2:49am
Quoting ikdenk
{quote} There is a HOLO alert under the paperclip!
Looks like it only monitors current pair on H1,

what I mean is a small dot (red, green, yellow etc) showing if the price is in one of the zones, if someone could program it in to the buttons indicator since we already have all the currencies on the screen so no need to display them again with other indicator, it could display dot etc. on side of each currency button corresponding to that currency pair.

j11 posted his Screen_1H indicator in #Post 1,952 http://www.forexfactory.com/showthre...64#post8958664 , something like that without OpenL , OpenH prices but with adjustable screen position and ability to switch between currencies like buttons indicator gives

maybe someone can take a look in to this


big thanks!!
Attached File(s)
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  • #9,791
  • Jan 10, 2017 2:52am Jan 10, 2017 2:52am
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Here's a good example of multiple entries. They were before I got here, good thing there is a rule #5. Virtually no red news today should be interesting to observe price movement.
  • #9,792
  • Jan 10, 2017 3:05am Jan 10, 2017 3:05am
Quoting Forexior
{quote} Looks like it only monitors current pair on H1, what I mean is a small dot (red, green, yellow etc) showing if the price is in one of the zones, if someone could program it in to the buttons indicator since we already have all the currencies on the screen so no need to display them again with other indicator, it could display dot etc. on side of each currency button corresponding to that currency pair. j11 posted his Screen_1H indicator in #Post 1,952 http://www.forexfactory.com/showthre...64#post8958664 , something...
Yeah I used that alert for a bit but it only signals on the open pair so I took it off. An alert setting for price on the smHiLo indicator would also be nice for monitoring multiple pairs.
  • #9,793
  • Jan 10, 2017 4:52am Jan 10, 2017 4:52am
Until you have mastered HOLO your focus needs to be on one pair.
Dots and buttons will only be a distraction and hamper your learning.
When you are ready you can seek tools from an ADVANCED ALIEN CIVILIZATION.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,794
  • Jan 10, 2017 5:03am Jan 10, 2017 5:03am
Quoting TooSlow
Until you have mastered HOLO your focus needs to be on one pair. Dots and buttons will only be a distraction and hamper your learning. When you are ready you can seek tools from an ADVANCED ALIEN CIVILIZATION.
Thanks. It's good to know there are other life forms.
  • #9,795
  • Jan 10, 2017 6:15am Jan 10, 2017 6:15am
Quoting TooSlow
ONE TRADE PER BAR. If you are using M5 bars to enter, one trade per M5 bar. If you are using M15 bars to enter, one trade per M15 bar. If you are using M30 bars to enter, one trade per M30 bar. If you are using H1 bars to enter, one trade per H1 bar.
Ok got it. So yesterday my only mistake was to take that huge SL. I'll do the challenge from the start again anyway since I said I'll do so.
  • #9,796
  • Jan 10, 2017 7:11am Jan 10, 2017 7:11am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,797
  • Jan 10, 2017 7:17am Jan 10, 2017 7:17am
Challenge take 2 - USDJPY #1 -> SL -10
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  • #9,798
  • Jan 10, 2017 7:24am Jan 10, 2017 7:24am
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Anyone on the Canadian Express?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,799
  • Jan 10, 2017 8:03am Jan 10, 2017 8:03am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,800
  • Jan 10, 2017 8:04am Jan 10, 2017 8:04am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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