HOLO - Highest Open / Lowest Open Trade

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TheRumpledOne
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Re: HOLO - Highest Open / Lowest Open Trade

Postby TheRumpledOne » Thu Aug 04, 2016 2:51 pm

MightyOne wrote:
TooSlow wrote:
1) Stop loss is the current daily high or current daily low.
Adjust your position size accordingly.

2) Take profit by moving stop.
3a)When trade is +5 or more, move stop to BE+1.
3b)When trade is +10 or more, move to to BE+5, or switch to trailing stop.
Optional exit is to exit part of trade position with a profit to bank it, move stop to BE+1 and watch the market.



Take profit when the question arises as to whether or not you should stay and you are unwilling to increase your position size by even a quarter; If it is incorrect to add then it is incorrect to wait.

100% of the time, if you are going to move your stop to BE+ANYTHING, take partial profits:

Scenario 1: you are up 5 pips, move stop to BE+1, you are stopped for +1.
Scenario 2: you are up 9 pips, move stop to BE+1, you are stopped for +1
Scenario 3: you are up 14 pips, move stop to BE+5, you are stopped for +5

"Why do I have to get stopped out? Why can't the trade run away and never look back?"
Because 90% of the time that is not what happens when you move your stops.

EDIT: I should clarify that "BE" in the scenarios below is defined as your entry price.

Scenario1: you are up 5 pips, reduce your position size by a third, move stop to BE+1, you are stopped for +2.333
((3/2)5 - 4) * (2/3): reduce by a third at 5, get stopped after a loss of 4, & normalize profit.
Scenario2: you are up 9 pips, reduce your position size by a third, move stop to BE+1, you are stopped for +3.666
$1 makes 9, $2 makes 1, and you are up $11.
$11 / 3 = 3.666 pips.
((3/2)9 - 8) * (.6667) = 3.666
Scenario3a: you are up 14 pips, reduce your position size by a third, move stop to BE+5, you are stopped for +8.000
((3/2)14 - 9) * (.6667) = 8.000
Scenario3b: you are up 14 pips, reduce your position size by a third, move stop to BE+5,...
price retraces 5 pips, reduce your position size by half, you are stopped out for +9.333
$1 makes 14, $1 makes 9, $1 makes 5, & you are up $28.
$28 / 3 = 9.333 pips.
((3/2)14 - 5) = 16, ((2/1)16 - 4) * (1/3) = 9.333

If price takes off then simply increase your size by thirds.


MO, that is confusing to me. You are converting dollars to pips.

For 1 pip = $1.00

Scenario2 - Profit $9 on 1 lot and $2 on 2 lots. Total profit = $11.

What is the reason for all the extra math and converting to 3.666??

I just do not understand. :?
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Re: HOLO - Highest Open / Lowest Open Trade

Postby TheRumpledOne » Thu Aug 04, 2016 3:14 pm

MightyOne wrote:Take profit when the question arises as to whether or not you should stay and you are unwilling to increase your position size by even a quarter; If it is incorrect to add then it is incorrect to wait.


Interesting, MO.

This may be the wrong interpretation but it sounds like you should either be adding constantly or exiting immediately. Of course, that may be taking it to an absurd extreme.

How often do you evaluate? Every X pips?
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Re: HOLO - Highest Open / Lowest Open Trade

Postby TheRumpledOne » Thu Aug 04, 2016 3:40 pm

USDCADM5.png
USDCADM5.png (66.68 KiB) Viewed 381 times


Since I would not add here, should I exit?

I know it make seem like a silly question, but I am asking for understanding.
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Re: HOLO - Highest Open / Lowest Open Trade

Postby TheRumpledOne » Thu Aug 04, 2016 3:47 pm

PTG wrote:This thread is meant as an extension of this FF thread: http://www.forexfactory.com/showthread.php?t=590623

Post 1 in that thread contains all you need to know including a few references how to trade the HOLO way. The author, TooSlow, has done an excellent job in getting that thread off the ground =D>

As it happens, TRO indicators are very useful indeed, to say the least. (Un)fortunately, these indicators can't be posted in other forums according to the wishes of TRO. Hence the creation of this thread, so we can refer to it from elsewhere and people can download the stuff they need (and then some). So, without further ado, let's get crackin' :mrgreen:



Reason I do not post my code in more than one place is because it would be a code maintenance nightmare.

Reason I do not want my code posted by anyone else, any place else, is because people will not know where to go to get the latest fixes and revisions.

Some of the code I wrote back in 2008, 2009, etc... has been posted in other forums. People don't know where to find the revisions. Not to mention Build 600 "killed" some of those indicators.

Best to direct them to www.kreslik.com to download my indicators. I do realize that mentioning my name, kreslik and/or posting charts showing my indicators can get you banned from other forums. So much for the free exchange of information on the internet. It is turf war!

Thanks.
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Re: HOLO - Highest Open / Lowest Open Trade

Postby PTG » Thu Aug 04, 2016 3:59 pm

TheRumpledOne wrote:
PTG wrote: I do realize that mentioning my name, kreslik and/or posting charts showing my indicators can get you banned from other forums.


Apparently so :shock:

So much for the free exchange of information on the internet. It is turf war!


Private property: "owner decides". That's fine. Turf war it is :)
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Re: HOLO - Highest Open / Lowest Open Trade

Postby TheRumpledOne » Thu Aug 04, 2016 4:09 pm

PTG wrote:
TheRumpledOne wrote:
PTG wrote: I do realize that mentioning my name, kreslik and/or posting charts showing my indicators can get you banned from other forums.


Apparently so :shock:

So much for the free exchange of information on the internet. It is turf war!


Private property: "owner decides". That's fine. Turf war it is :)


Yes, websites are PRIVATE PROPERTY. When you are on a website, you are a guest. The owners can invite you to "leave". Threads are the same way. Thread starters stake out their "turf". Some people are very protective.

HUMAN NATURE. :roll:
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Re: HOLO - Highest Open / Lowest Open Trade

Postby MightyOne » Thu Aug 04, 2016 4:24 pm

TheRumpledOne wrote: MO, that is confusing to me. You are converting dollars to pips.

For 1 pip = $1.00

Scenario2 - Profit $9 on 1 lot and $2 on 2 lots. Total profit = $11.

What is the reason for all the extra math and converting to 3.666??

I just do not understand. :?


Space is the idea that one can better manage money if one can SEE it.

Plugging in numbers and getting a result does not help you see how space should be managed between pairs & periods or even within a trade.

I use fractions because that is what we see when we reduce from 3 units to 2 or increase from 3 to 4 or from 4 to 5, etc.
It shouldn't be "extra math", everyone should know their fractions as we only use:
2/1, 3/2, 3/4, 4/5, 5/6, ... and then it repeats as we add..., 3/4, 4/5, 5/6, 3/4, 4/5, 5/6, etc

After repeated use, you are going to see the expansion and contraction of boxes automatically, before decisions are made, and you will know exactly how your actions impact the probability of success based on what you are seeing on the chart.

maybe, after (3/2)9, I notice that my 13.5 pips of space could be used more strategically where as if I had just been counting coins on the way to destruction I would not have made a decision that altered the course of history and led to that epic win.

I use "lines", instead of pips, because they are the same dollar value between pairs and periods.
(I didn't use lines in the post because I was simply making a point that it is ALWAYS better to take partial profits before moving stops)

Maybe you see it differently, if that is the case then I advise you to do it differently.

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Re: HOLO - Highest Open / Lowest Open Trade

Postby MightyOne » Thu Aug 04, 2016 4:36 pm

TheRumpledOne wrote:
MightyOne wrote:Take profit when the question arises as to whether or not you should stay and you are unwilling to increase your position size by even a quarter; If it is incorrect to add then it is incorrect to wait.


Interesting, MO.

This may be the wrong interpretation but it sounds like you should either be adding constantly or exiting immediately. Of course, that may be taking it to an absurd extreme.

How often do you evaluate? Every X pips?


"See profit, take profit" or add size.

If you wait then you expect more pips & if you expect more pips then you should increase your size.

Adding a quarter reduces your space by 20%, if price retraces 80% then what is the probability that that the trade will rebound vs get stopped out?
Adding a third reduces your space by 25%, if price retraces 75% then what is the probability that the trade will rebound vs get stopped out? (Remember that we are not talking about large spaces here)

I say that it is more profitiable to take profit or add than it is to wait and see.

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Re: HOLO - Highest Open / Lowest Open Trade

Postby TheRumpledOne » Thu Aug 04, 2016 4:43 pm

MightyOne wrote:
TheRumpledOne wrote:
MightyOne wrote:Take profit when the question arises as to whether or not you should stay and you are unwilling to increase your position size by even a quarter; If it is incorrect to add then it is incorrect to wait.


Interesting, MO.

This may be the wrong interpretation but it sounds like you should either be adding constantly or exiting immediately. Of course, that may be taking it to an absurd extreme.

How often do you evaluate? Every X pips?



I say that it is more profitiable to take profit or add than it is to wait and see.


I think I may be starting to understand what you are talking about.
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Re: HOLO - Highest Open / Lowest Open Trade

Postby PTG » Thu Aug 04, 2016 4:49 pm

MightyOne wrote:
Adding a quarter reduces your space by 20%, if price retraces 80% then what is the probability that the trade will rebound vs get stopped out?
Adding a third reducing your space by 25%, if price retraces 75% then what is the probability that the trade will rebound vs get stopped out? (Remember that we are not talking about large spaces here)

I say that it is more profitable to take profit or add than it is to wait and see.


Scaling in and out in other words.

Is your thinking that if it retraces to 80% the odds to fail are similar as a 100% retrace, so you might as well a) increase load, b) decrease it again if it goes against and c) have the stop at the same absolute amount ?
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