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Highest Open / Lowest Open Trade

  • #10,261
  • Feb 4, 2017 3:55am Feb 4, 2017 3:55am
Hi TooSlow,

I like your thread and I think I understand your strategy. However, quite often you'll posts asking for further explanation. This can only mean that your explanations/graphs are not always crystal clear. If I may, I'd suggest 2 clarification points t:

1/ In your examples, there is 1 word missing : entry. You should show in the graph where the entry will take place based in the pattern.
2/ In some examples you show an the pattern, but in my view, earlier in the day there were candles that complied with patterns requirements, yet they were ignored. I was confused why they were not part of your commentary.

One question: Can the pattern occur as early as the 2nd H1 candle of the day? I talk about candles because to me they help to visually identify patterns better.

Keep the good work
  • #10,262
  • Feb 4, 2017 7:51am Feb 4, 2017 7:51am
Quoting Mortas
Too Slow i want to understand this better. If i am right when you make a buy trade at the lowest point, you either tp or +1 and keep taking trades as soon as the candles move in that direction ?
Obviously, you did not read POST #1 to the end.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #10,263
  • Feb 4, 2017 7:56am Feb 4, 2017 7:56am
Is there an EA for this?
  • #10,264
  • Feb 4, 2017 8:07am Feb 4, 2017 8:07am
Quoting yalgaar
Is there an EA for this?
Obviously, you did not read POST #1 to the end or you are baiting me.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #10,265
  • Feb 4, 2017 8:20am Feb 4, 2017 8:20am
Quoting TooSlow
{quote} Obviously, you did not read POST #1 to the end or you are baiting me.
I HAVE READ POST #1 AND THE EXAMPLE LINKS BUT I STILL HAVE A QUESTION

Thanks for your response. I am a new member and find this strategy quite interesting. I still have a lot of questions about it. There are around 513 pages and over 10 thousand posts for this thread. Do I just need to read Post # 1 to get all information about this strategy? I will make sure I read it at the last 2 more times with 100% of my focus with questions. Would this be the place to ask more questions about the strategy?

That said, I am not sure what you meany by me bating you?

Also how long have you used this for? How much average pips are you able to make daily/weekly? So far how has been the results? Which pairs has this worked the best?
  • #10,266
  • Feb 4, 2017 8:37am Feb 4, 2017 8:37am
Quoting yalgaar
{quote} I HAVE READ POST #1 AND THE EXAMPLE LINKS BUT I STILL HAVE A QUESTION Thanks for your response. I am a new member and find this strategy quite interesting. I still have a lot of questions about it. There are around 513 pages and over 10 thousand posts for this thread. Do I just need to read Post # 1 to get all information about this strategy? I will make sure I read it at the last 2 more times with 100% of my focus with questions. Would this be the place to ask more questions about the strategy? That said, I am not sure what you meany by...


yalgaar,

Study over this pdf. Your questions should be answered in it. And then take the challenge!
Attached File(s)
File Type: pdf TooSlow H1.pdf   527 KB | 2,006 downloads
  • #10,267
  • Feb 4, 2017 10:39am Feb 4, 2017 10:39am
Quoting brucech
{quote} yalgaar, Study over this pdf. Your questions should be answered in it. And then take the challenge! {image}
Thank you very much!
  • #10,268
  • Feb 4, 2017 10:53am Feb 4, 2017 10:53am
I still need clarification and want to make sure I have got this right.

Here is the example:

I am trading on EST time zone and my brokers day starts and end at 5pm EST.
Lets say I am ready to trade and it is around 10:16 EST.
This means for today I will only have 5 H1 candles so far that are closed. The 10pm candle would be the current candle that is still not closed.

So basically,
I will look at those 5 candles and find out what is the "Highest Open" price out of those 5 candles only. I will draw a line at that price. Lets say this price is 1.0770.
I will also look at those 5 candles and find out what is the "Lowest Open" price out of those 5 candles only. I will draw a line at that price. Lets say this price is 1.0750.

Now I will keep waiting till the price goes above 1.0770 or goes below 1.0750. Is that correct? Does going above or below just 1 pip enough?

Now these are my questions and need clarifications:
1) If the price hits 1.0771. Is it OK to enter a "Pending Short" Order to enter at 1.0770?
2) If the price hits 1.0749. Is it OK to enter a "Pending Long" Order to enter at 1.0750?
3) Will my SL be 1.0750 for my Long trade?
4) Will me SL be 1.0770 for my short trade?
  • #10,269
  • Feb 4, 2017 11:06am Feb 4, 2017 11:06am
Quoting TooSlow
Who is taking the 10 trade challenge the week of FEBRUARY 5, 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!
Great thread and thanks to TooSlow and others who have provided this strategy and information.

I look forward to taking the challenge next week
  • #10,270
  • Feb 4, 2017 11:08am Feb 4, 2017 11:08am
Quoting yalgaar
I still need clarification and want to make sure I have got this right. Here is the example: I am trading on EST time zone and my brokers day starts and end at 5pm EST. Lets say I am ready to trade and it is around 10:16 EST. This means for today I will only have 5 H1 candles so far that are closed. The 10pm candle would be the current candle that is still not closed. So basically, I will look at those 5 candles and find out what is the "Highest Open" price out of those 5 candles only. I will draw a line at that price. Lets say this price is 1.0770....
Download the indicator.
Download the template.
Take the 10 TRADE CHALLENGE.
Your questions will be answered.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #10,271
  • Feb 4, 2017 11:28am Feb 4, 2017 11:28am
Quoting TooSlow
{quote} Download the indicator. Download the template. Take the 10 TRADE CHALLENGE. Your questions will be answered.
Thanks for your quick reply TooSlow!

Where do I find the indicator and the template? I don't see it in the 1st post? Can it be added there for me and future users who needs them?

I am up for the challenge for sure. Just gathering details to ensure I have understood the entry and exits for this strategy.
  • #10,272
  • Feb 4, 2017 11:37am Feb 4, 2017 11:37am
Quoting yalgaar
{quote} Thanks for your quick reply TooSlow! Where do I find the indicator and the template? I don't see it in the 1st post? Can it be added there for me and future users who needs them? I am up for the challenge for sure. Just gathering details to ensure I have understood the entry and exits for this strategy.
Hi

See you are new - Follow red arrow - click there and download from TooSlow Post

Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: 2017-02-04_193349.png Size: 68 KB
Don't limit yourself!!
  • #10,273
  • Feb 4, 2017 1:03pm Feb 4, 2017 1:03pm
Quoting mosiskv
{quote} Hi See you are new - Follow red arrow - click there and download from TooSlow Post Cheers {image}
WOW!! Thank you so much! I now have so much to look further into this. Thanks a lot!
  • #10,274
  • Feb 4, 2017 1:57pm Feb 4, 2017 1:57pm
Quoting mosiskv
{quote} Hi See you are new - Follow red arrow - click there and download from TooSlow Post Cheers {image}
Thank you for helping a fellow trader.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #10,275
  • Feb 4, 2017 2:00pm Feb 4, 2017 2:00pm
Welcome to the newcomers. Glad to see you all here. I must apologise as I had promised to add a new document which covered all these questions. I haven't done this so far but I will say that if you scan back over the last month, there are two or three posts where all of the above questions are answered by myself.

I will make time over the weekend and add the document to the paperclip for later users.

Looking forward to your contributions.
  • #10,276
  • Feb 4, 2017 2:02pm Feb 4, 2017 2:02pm
Quoting sevan62
Hello fellow traders. I was interested in HoLo strategy and decided to convert it into EA. Attached is EA itself and backtests. I've run forward-test and compared it with MT4 tester results. They do match 1:1. You may try EA yourself, test it and use as you like. Feel free to give a feedback. I hope all inputs are clear without comments. holoparams.jpg;2170060 HoLoH1_v1.2.ex4;2170065 tests.zip;2170064 HoLo Back-Tests.zip;2170063 I advise you to activate visualization mode if you want to run back-tests. MetaTrader 4 IC Markets.png;2170061 Wish you...
Hi Sevan62

Thanks for the EA. Based on your results, almost each and every test shows negative equity. I am very much interested to get comments from TooSlow about these results. Also wondering if there are ways to Optimize this.
  • #10,277
  • Feb 4, 2017 2:03pm Feb 4, 2017 2:03pm
Quoting lemercenaire
Welcome to the newcomers. Glad to see you all here. I must apologise as I had promised to add a new document which covered all these questions. I haven't done this so far but I will say that if you scan back over the last month, there are two or three posts where all of the above questions are answered by myself. I will make time over the weekend and add the document to the paperclip for later users. Looking forward to your contributions.
Thank you!!
  • #10,278
  • Feb 4, 2017 2:08pm Feb 4, 2017 2:08pm
Quoting edsudist
Hi TooSlow, I like your thread and I think I understand your strategy. However, quite often you'll posts asking for further explanation. This can only mean that your explanations/graphs are not always crystal clear. If I may, I'd suggest 2 clarification points t: 1/ In your examples, there is 1 word missing : entry. You should show in the graph where the entry will take place based in the pattern. 2/ In some examples you show an the pattern, but in my view, earlier in the day there were candles that complied with patterns requirements, yet they...
Entry?
Have you read POST #1?
When you understand the method, you will see the entry.
The charts I post show something may be about to happen.
Or what did happen.

Price may be making a new daily high/low or may have just made it.
Which will most likely be followed by a new H1 HO/LO.
Which indicates a trade entry may be imminent.

Please keep in mind some of us are trading real money.
Posting is not a high priority.
And annotating charts with details that should be obvious to those who have read the thread is definitely not a priority at all to me.
Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #10,279
  • Feb 4, 2017 2:09pm Feb 4, 2017 2:09pm
Quoting yalgaar
{quote} Hi Sevan62 Thanks for the EA. Based on your results, almost each and every test shows negative equity. I am very much interested to get comments from TooSlow about these results. Also wondering if there are ways to Optimize this.
EAs do NOT belong in this thread.
Please refrain from mentioning EAs.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #10,280
  • Feb 4, 2017 2:49pm Feb 4, 2017 2:49pm
Quoting TooSlow
{quote} EAs do NOT belong in this thread. Please refrain from mentioning EAs.
Understood. Sorry about that!
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