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Highest Open / Lowest Open Trade

Good Evening fellow traders,

I have read though most of this thread again and I have subscribed and will take on the 10 trade challenge.

I have a question or 2 though that I could not find the answer for: What time of the day do you look for setups or does it depend on the currency? For example, EURUSD, do you only look for setups in the Euro session open and the hours thereafter and then again later in the US session? USDCAD only look for setups after the US session opens?

I will scope it out in the morning anyway.

Warm regards from a warmer South Africa
Quoting Kakmaker
Good Evening fellow traders, I have read though most of this thread again and I have subscribed and will take on the 10 trade challenge. I have a question or 2 though that I could not find the answer for: What time of the day do you look for setups or does it depend on the currency? For example, EURUSD, do you only look for setups in the Euro session open and the hours thereafter and then again later in the US session? USDCAD only look for setups after the US session opens? I will scope it out in the morning...
Please read POST #1 to the end and follow the instructions.

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
Quoting Kakmaker
Good Evening fellow traders, I have read though most of this thread again and I have subscribed and will take on the 10 trade challenge. I have a question or 2 though that I could not find the answer for: What time of the day do you look for setups or does it depend on the currency? For example, EURUSD, do you only look for setups in the Euro session open and the hours thereafter and then again later in the US session? USDCAD only look for setups after the US session opens? I will scope it out in the morning anyway. Warm regards from a warmer South...
Lol - hi Kakmaker. Good to see you here. Pippy says hi!
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Quoting TooSlow
{quote} Please read POST #1 to the end and follow the instructions. {image}
yeah, i have to try research this search
i like your both theard, thank you, tooslow
Quoting lemercenaire
{image}
Came good on this one last night. Took a ''dipped'' entry early (bent the rules) but you could have had the pure entry a few minutes later if you had dropped to the m1 tf.

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Hahaha - Fair enough

I HAVE READ POST #1 AND THE EXAMPLE LINKS BUT I STILL HAVE A QUESTION

So at the end of the day what it comes down to is what works best for you in your circumstances, correct?
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Shorted this NZ profit locked at +5.
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Also have this CAD long sitting at +9 profit locked.
Quoting merah678
Hi all, Just sign in to say thank you I've been trading HOLO around last Q4. I must admit that HOLO is so simple. easy to comply and easy to execute. I managed to stay focused and consistantly gain profit over the weeks. By the way, i trade manually on smartphone. Thank you for this splendid HOLO.
Hi merah678

Glad HOLO has been working form you. I have not been able to spend enough time on it to understand and practice it since not able to be in front of the computer enough. Its great to know you are usining HOLO on your phone. If you don't mind can you share details on how you manage this from your phone? It will sure be a great help for me since accessing my phone at all times is not an issue for me.

Regards
Yalgaar
Quoting Kakmaker
Hahaha - Fair enough I HAVE READ POST #1 AND THE EXAMPLE LINKS BUT I STILL HAVE A QUESTION So at the end of the day what it comes down to is what works best for you in your circumstances, correct?
Pretty much, yes. That's why the initial learning period is so important. While you rep the method of entry, you can be grooving the process so it becomes a natural thing you barely have to think about and as you are doing this you are building up a knowledge bank of your favourite pair(s) and how they behave during your particular day. Some pairs will work better for some than others - purely because one trader is working the UK session and the other the Asian. No one is ''better'' than the other, just more suitable at that time.

You will also notice that Hal, TS and myself are continuously moving between HOLO and 1-2-3 and this is the way that works best imo, as the day is covered for all the eventualities and one set-up naturally leads into another, ie what starts out as a HOLO set-up will morph into a 1-2-3, which then turn into a HOLO after the 1-2-3 move has either completed or moved on naturally.

However, you won't begin to see this until you have spent the time at the coal face and as I said, rep, rep, rep some more.
Quoting Kakmaker
Hahaha - Fair enough I HAVE READ POST #1 AND THE EXAMPLE LINKS BUT I STILL HAVE A QUESTION So at the end of the day what it comes down to is what works best for you in your circumstances, correct?
Good summation of trading and of life.
Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
Quoting lemercenaire
{quote} Pretty much, yes. That's why the initial learning period is so important. While you rep the method of entry, you can be grooving the process so it becomes a natural thing you barely have to think about and as you are doing this you are building up a knowledge bank of your favourite pair(s) and how they behave during your particular day. Some pairs will work better for some than others - purely because one trader is working the UK session and the other the Asian. No one is ''better'' than the other, just more suitable at that time. You will...
such gold... flys bye
Quoting lemercenaire
You will also notice that Hal, TS and myself are continuously moving between HOLO and 1-2-3 and this is the way that works best imo, as the day is covered for all the eventualities and one set-up naturally leads into another, ie what starts out as a HOLO set-up will morph into a 1-2-3, which then turn into a HOLO after the 1-2-3 move has either completed or moved on naturally. However, you won't begin to see this until you have spent the time at the coal face and as I said, rep, rep, rep some more.
HOLO can be a 1-2-3.
1-2-3 can be a HOLO.
Closely related but not the same.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
Quoting TooSlow
{quote} HOLO can be a 1-2-3. 1-2-3 can be a HOLO. Closely related but not the same.
Yep, but the go hand in hand where you find one another was near
I will stick with HOLO for now.

Any recommendations for a broker? The broker I use have high spreads that will kill me on the smaller time frames.
Hi all - I have some questions...

1 - Is it realistic to think that following those 2 methods I can end each day in profit ?
2 - Am I understanding it right if I think no considerable draw down period should be expected ?

My understanding is that if a trader :

1 - Is able to filter out most of the "bad" trade
ones which would have been under the rules but does not look right

2 - Cut his losers short
If the market goes directly the wrong way (cut at 4-5pips)
Or If the trade goes your way 2-3 pips and go back in negative cut it at 4-5pips

3 - Let the trade develop after it as reached 5-10 pips and is at BE. Try to get as much +5, +10 as possible and occasional home run.

Then it is possible to be in profit at EOD everyday. Can you confirm if that is realistic ?

I am wondering because considering the back testing I made with an EA I made myself for HOLO and 1-2-3 I see a positive expectancy but not without down days. And sometimes with a couple of days in the negative. And I want to know if that is something I should expect or not.

Note : This code I made is only for back testing purpose in order to give me insight. That's. It.

And TooSlow if you want me to remove the mention of my code I can delete it lightning fast.
Quoting yalgaar
{quote} Hi merah678 Glad HOLO has been working form you. I have not been able to spend enough time on it to understand and practice it since not able to be in front of the computer enough. Its great to know you are usining HOLO on your phone. If you don't mind can you share details on how you manage this from your phone? It will sure be a great help for me since accessing my phone at all times is not an issue for me. Regards Yalgaar
 
Hi Yalgar,
 
Credits goes to Too Slow , Lemercenaire,Hal7 for their love for HOLO and 123. 
 
I'm not good with words, so pardon me for the mistakes.
 
To sum up my activities,
 
I try to answers you as best as I could, but first , help yourself by executing HOLO @ 123. both works wonderful. gain confidence and get comfortable by executions.
 
Profits and losses is not important. Just trade the lowest lot available. risk only with money you can lose. risk to me is how much im willing to pay to test my trading idea, how far im willing to let the market move a way to prove my trading idea is invalid. You may risk more afterwards.
 
Please read the first post on both thread. work them out
 
I use telegram to save snapshots. think of it as journal. i wrote down my plans, if a do b, if c do d, etc. what i felt on that setup. record the activities, maintain focus, evalute the plan versus execution during weekends. 
 
my favorite task during the weekends is to  find 3 things that worked during the week, ask myself how to repeat them and how i could do better. im more interested in the trades that i have skipped
 
As for me, I do EU. 1 trade at a time. That worked for me. I tried multiple pairs before, and found that im all over the place, I can't justify almost 3/4 of  the trades taken. As a result i can't improve my  trading skills. Whaf worked for me may not worked for you. Adjustments can only be made after you got the root cause.
 
I'm blessed since i could trade all the sessions. JPY in the morning, GBP passed lunch, NYK at night. So my Open start early in the morning. above open buy. below open sell.
 
During each session, there is a potential creating a new high/low. hence i look for possible 123 for reentry if im out OR move my SL near 123. 
 
During each session, there is a potential creating a wick, resulting  from highest point to the next H1 open. in case of this high remains as the high of the day,high failed to move up, come back and  past the current H1 open, i got HO reversal. vise versa for LO.
 
HOLO got nothing to do with previous day HOLO (PDHOLO) or previous day open (PDDO).
 
This is from my personal exercise. Should the price break PDLO / PDHO. that a breakout, a run away train. Just moved SL. Scalling in  the next HOLO /123 setup available. I don't mind holding on . I don't have target profit. Im using SL to lock some profit. We never know exactly how far the price will go. 
 
To my understanding, if the current day open below PDDO , I could hold this selling pressure. vise versa. It may or may not test any previous day points. It may or may not test the current day points also. It may do breakout, or remain in range.
 
This is how i practice HOLO on phone. Just to share. Our result may vary. Hope this will help you on your journey. take what you need, discard what not, make it your own
 
 
Quoting Kakmaker
I will stick with HOLO for now. Any recommendations for a broker? The broker I use have high spreads that will kill me on the smaller time frames.
Please read the thread.
You will learn changing time frames has no effect on the price.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
Quoting thedrrew
I am wondering because considering the back testing I made with an EA I made myself for HOLO and 1-2-3 I see a positive expectancy but not without down days. And sometimes with a couple of days in the negative. And I want to know if that is something I should expect or not. Note : This code I made is only for back testing purpose in order to give me insight. That's. It. And TooSlow if you want me to remove the mention of my code I can delete it lightning fast.
Backtesting is a waste of time when used to test systems.
This has been discussed.
Take the 10 TRADE CHALLENGE.
There you will find your proof.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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