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Highest Open / Lowest Open Trade

  • #9,901
  • Jan 13, 2017 6:43pm Jan 13, 2017 6:43pm
Quoting ikdenk
{quote} Thanks for posting this. Pareto at work again: 80% of pips from 20% of pairs. (or 91% from 3 pairs only: uj, ej and uc - maybe a message in there?)
Yes.

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,902
  • Jan 13, 2017 6:46pm Jan 13, 2017 6:46pm
Quoting lemercenaire
{quote} ''...Ah but TooSlow - does HOLO work?!''
No.
Not at all.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,903
  • Jan 13, 2017 6:51pm Jan 13, 2017 6:51pm
Quoting profitfarmer
{quote} First of all, congratulation, very impressive! But second, please share with us how did you end up 166 UsdJpy trades in a week? Talking about impressive, that average out to almost 35 entry daily on that pair alone!!!
Multiple entries.
Rather than make 1 enter with a full position size, I enter multiple times with a fraction of the position size.
The trade report programs see each entry as a separate trade.

5 pips on a single entry is 5 pips.
5 pips on multiple entries could be 20 or more pips.
The most important number on the chart is the % return (Return =).
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,904
  • Jan 13, 2017 6:56pm Jan 13, 2017 6:56pm
Quoting TooSlow
{quote} Multiple entries. Rather than make 1 enter with a full position size, I enter multiple times with a fraction of the position size. The trade report programs see each entry as a separate trade. 5 pips on a single entry is 5 pips. 5 pips on multiple entries could be 20 or more pips. The most important number on the chart is the % return (Return =).
Nice
  • #9,905
  • Jan 13, 2017 9:12pm Jan 13, 2017 9:12pm
Quoting TooSlow
{quote} No. Not at all.
Fantastic results TS. Expect this question. You have been here a for a good period of time. Can I assume you are not Sim trading, but trading your funded account?
On another front. I have been reviewing many of the charts on this thread. Yours & others. Many I do not quite understand. I am attributing this to the fact that I do not have your MT4 Platform. Many of the charts have no marking or notation showing possible trades.
They are charts that may have been produced with an MT4 compatible template.
I am about to open a demo with an off shore FX broker called "Tradewise FX" I found this broker on a list of (ostensibly) approved, or rather "vetted" brokers on Babypips.com. It is a demo account in any event, it will give me a chance to become familiar with MT4, spreads, pips...et al. So if any of you have anything in the way of a caution for this Broker. PM me please. Thanks
  • #9,906
  • Jan 13, 2017 10:13pm Jan 13, 2017 10:13pm
I have watch the thread from a distance and I can say this really really works. I have done the challenge twice now. 1st time 7 out of 10 successful and 2nd time 8 out of 10. To others who are lurking just keep reading page 1 and practicing. IT WORKS if you follow it. Also, just read the thread.

One thing I must say though is it is painfully hard to see where entry is on the posted charts of some. I know the method and I know whats going on but I am a quick learner. Still I think it would be really helpful to clearly show the entry candle for ll to see. Some charts are 100% clear and others I see I have no way of knowing where they entered.
  • #9,907
  • Jan 13, 2017 10:54pm Jan 13, 2017 10:54pm
Quoting Trendzalore
I have watch the thread from a distance and I can say this really really works. I have done the challenge twice now. 1st time 7 out of 10 successful and 2nd time 8 out of 10. To others who are lurking just keep reading page 1 and practicing. IT WORKS if you follow it. Also, just read the thread. One thing I must say though is it is painfully hard to see where entry is on the posted charts of some. I know the method and I know whats going on but I am a quick learner. Still I think it would be really helpful to clearly show the entry candle for ll...
When you can clearly see the entry without markings is when you have begun to master HOLO.
The training wheels have to come off for you to learn how to ride.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,908
  • Jan 13, 2017 10:56pm Jan 13, 2017 10:56pm
Quoting frisco
{quote} Fantastic results TS. Expect this question. You have been here a for a good period of time. Can I assume you are not Sim trading, but trading your funded account? On another front. I have been reviewing many of the charts on this thread. Yours & others. Many I do not quite understand. I am attributing this to the fact that I do not have your MT4 Platform. Many of the charts have no marking or notation showing possible trades. They are charts that may have been produced with an MT4 compatible template. I am about to open a demo with an off...
Yes I trade with real money.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,909
  • Jan 13, 2017 11:14pm Jan 13, 2017 11:14pm
Quoting Trendzalore
I have watch the thread from a distance and I can say this really really works. I have done the challenge twice now. 1st time 7 out of 10 successful and 2nd time 8 out of 10. To others who are lurking just keep reading page 1 and practicing. IT WORKS if you follow it. Also, just read the thread. One thing I must say though is it is painfully hard to see where entry is on the posted charts of some. I know the method and I know whats going on but I am a quick learner. Still I think it would be really helpful to clearly show the entry candle for ll...
Amen Trendzalore. Now I know I am not alone in dealing with some of these posted charts. I have been applying HOLO to Index charts and currency futures; As simple as the whole concept is, I have to check myself to be sure I am not "jumping the gun" on some trades, but allowing the H1 Bar to make a new Non-Breakout High or Low and enter only after a smaller time frame bar closes in the area of interest before reversing.
I bring this up because after reviewing some trades (that actually were profitable), I saw that the H1 bar would paint a new HO or LO then quickly retrace. And I would not qualify those spikes as valid trades presently. I would put a stop order in to enter the trade and it would be filled after a quick spike down (or up). The other rule is only one entry per H1 bar. These were two of the issues I had to correct.
  • #9,910
  • Jan 13, 2017 11:44pm Jan 13, 2017 11:44pm
Quoting casper.xau79
{quote} Thank you! I will try to read all the posts next time before asking questions. I am in Indonesia, but I use Octa Trader which is UK based (if I'm not mistaken). Up to this moment, I lost 154.4 pips and won 22.5 pips. I only opened 0.01 lot everytime. My trading time is total random. I only open my trading platform whenever I have spare time between my work. The market that I keep my eyes on are the major forex markets with low spread and good price range. I think I need to review and learn slowly, especially how to trade on breakouts. I...
"A random approach will give you random results. If you have a favorite pair, learn its movement dedicate a time to check for set ups. It literally takes one minute to pull up a chart and look for your set up and then go on about the day."
Looking at this comment. I agree with trendzalore. Random approach gives random results. In an earlier post. (#9896, by member IKDENK), He pointed out that 91% of profit comes from 3 pairs. The USD/JPY being the pair that did the majority of the "heavy lifting" as shown in TooSlow's results (Post#9895). So, why not just focus on USDJPY for starters?
I imagine that even though some pairs don't give much in the way of signals or profit...that perhaps during other periods of time they were more active.
I don't know, TS would know, as he has been trading these FX pairs for years. There are other explanations of the HOLO method throughout this thread Casper. Spend some time over the weekend and you will find other descriptions that you may find easier to understand. Good Luck~
  • #9,911
  • Jan 14, 2017 4:40am Jan 14, 2017 4:40am
Quoting TooSlow
TooSlow.png;2139918 There are those who wonder about my P/L. This is not something I normally post. From time to time, it satisfies the curiosity. Can't win them all. {image}
Thanks for posting the results Too Slow, very impressive. Look forward to achieving similar in the future for myself, once mastered.

But for the now my results on my first challenge were not impressive so I am going to retake the challenge again this week until I get it right.

I traded the EU this past week with results of: +9.7, -14.1, -12.6, +0.9, +5.4, -23.3, +6.3, +7.5, -13.2, -14.6, for a net of -48.
I believe they were all legit trades. None off of breakout bars. May have missed an entry by a pip. Therefore will retake.
  • #9,912
  • Jan 14, 2017 5:13am Jan 14, 2017 5:13am
Quoting TooSlow
TooSlow.png;2139918 There are those who wonder about my P/L. This is not something I normally post. From time to time, it satisfies the curiosity. Can't win them all. {image}
Great results Too Slow!

A couple of quick questions if you don't mind:

1. In the middle you were using pivot points in conjunction with HOLO. Have you ditched them now or do you still use them?

2. Once the HOLO area is formed and price is far from it. Do you modify and bend the rules and place a limit order at the HOLO line before price gets into the HOLO area? Or do you always wait for price to atleast wick through the area before placing an order?
In the former case, you don't need to watch price as closely because you have your order to enter and stop already in place. In the latter, you have to closely watch price as it may quickly wick inside the HOLO area before leaving it.

Thank you and have a good weekend,
  • #9,913
  • Jan 14, 2017 8:00am Jan 14, 2017 8:00am
Pivots.

Price tends to move towards the daily pivot and the other pivot lines.
Price action, for shorts, happens in this way:

A new daily high is made.
The H1 candle closes and a new one opens creating a new daily high.
If price has reached a pivot line and reversed, price tends to drop.
If price failed to reach a pivot line, price tends to move towards the pivot line.
In the latter case, waiting is prudent.

None of this is necessary to trade HOLO.
Because the HOLO rules take all price action into consideration.
Do not let the simplicity of HOLO fool you.
Resist the temptation and urge to improve it.
Instead work on improving yourself as a trader.
Patience.
Focus.
Execution.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,914
  • Jan 14, 2017 8:15am Jan 14, 2017 8:15am
Quoting TooSlow
TooSlow.png;2139918 There are those who wonder about my P/L. This is not something I normally post. From time to time, it satisfies the curiosity. Can't win them all. {image}
The bulk of your good trades was that you saw that the US dollar would decline and put money on it. If the US dollar declines what goes up?

if you know the answer then you are thinking on a macro level. HOLO is on a micro level.

George Soros thinks on a macro level. The master trader.
You came here for the truth and let me unveil it for you
  • #9,915
  • Jan 14, 2017 8:31am Jan 14, 2017 8:31am
Quoting RondaRousey
{quote} The bulk of your good trades was that you saw that the US dollar would decline and put money on it. If the US dollar declines what goes up? if you know the answer then you are thinking on a macro level. HOLO is on a micro level. George Soros thinks on a macro level. The master trader.
Your assumption is invalid.
Nothing was "seen" other than a HOLO trade.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,916
  • Jan 14, 2017 9:56am Jan 14, 2017 9:56am
Quoting TooSlow
{quote} Multiple entries. Rather than make 1 enter with a full position size, I enter multiple times with a fraction of the position size. The trade report programs see each entry as a separate trade. 5 pips on a single entry is 5 pips. 5 pips on multiple entries could be 20 or more pips. The most important number on the chart is the % return (Return =).
Why you enter with multiple entries? Is is better than make 1 enter with full position size?

Thanks.
  • #9,917
  • Jan 14, 2017 1:43pm Jan 14, 2017 1:43pm
Quoting WannaBeNo.1
{quote} Why you enter with multiple entries? Is is better than make 1 enter with full position size? Thanks.
Multiple entries allow for scaling out to lock in some profit, moving the stop loss up to BE+1 or more and allowing the market to give more pips.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,918
  • Jan 14, 2017 3:27pm Jan 14, 2017 3:27pm
Hi all
Just wanted to say a big thank you for all your advice and words of wisdom on your holo thread.
I have been trading for for around 4 years with very mixed results. I have not managed to find consistency until I started following your thread. You and your fellow contributers have got me looking at my trading from a much more logical position which has made me enjoy trading again with this simple but disciplined method. The profits have been consistent with no stress. It actually feels very natural!
Thank you again
Will post some results next week for you to see.
  • #9,919
  • Jan 14, 2017 4:18pm Jan 14, 2017 4:18pm
GF's Mother took a fall. Busy with Docs,Hospitals and such. Headed out to the hospital in a few minutes again. Grandma may need a surgery to relieve some kind of pressure on spine. We shall see.
TooSlow speaks of psychology. I have found books by these authors to be useful. Van Tharp, Mark Douglas and Curtis Faith. Curtis is a former "Turtle" of Richard Dennis Turtle fame. Van Tharp , a psychologist specializing in trading psychology, first entered the public eye when he was included interviewed in the first "MARKET WIZARDS" book (published in 1987, I believe).
I lent out the Mark Douglas books. I forgot who I lent them to. So I have to buy new copies. IMHO, All of these books are worth owning and re-reading over & over. Like TS affirms...It's a lifetime process. Although it helps when you have a starting point, which TS has generously provided . This thread and "Trading is as easy as 1-2-3" are the crown jewels of this whole forum as far as I am concerned. My suggestion, which I am following, bookmark this thread it and read and reread. Then mark up some charts...and mark up some more~
  • #9,920
  • Jan 14, 2017 6:15pm Jan 14, 2017 6:15pm
tooslow, do you have losing months, when your monthly return is negative..?
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