HOLO - Highest Open / Lowest Open Trade
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- LeMercenaire
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Re: HOLO - Highest Open / Lowest Open Trade
Don't let it stop you posting, you're doing great!
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- gootson
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Re: HOLO - Highest Open / Lowest Open Trade
Just an oportunity... How are You guys doing?
Edit:
Closed half, and let the rest a chance to bank even more. Magic
Edit:
Closed half, and let the rest a chance to bank even more. Magic
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Experience is one thing you can't get for nothing.
- gootson
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Re: HOLO - Highest Open / Lowest Open Trade
One more entry, this time - GBPJPY
Edit:
Funny, on both of these trades I was wrong about further direction and still manage to earn some $$. First rule to earn the money - don't loose them. Cheers!
Edit:
Funny, on both of these trades I was wrong about further direction and still manage to earn some $$. First rule to earn the money - don't loose them. Cheers!
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Experience is one thing you can't get for nothing.
- LeMercenaire
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Re: HOLO - Highest Open / Lowest Open Trade
Been sidetracked by off-screen stuff today and on-and-off for the last week or so but you seem to be holding the fort nicely!
- RisingSun
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Re: HOLO - Highest Open / Lowest Open Trade
gootson wrote:One more entry, this time - GBPJPY
Edit:
Funny, on both of these trades I was wrong about further direction and still manage to earn some $$. First rule to earn the money - don't loose them. Cheers!
Great stuff.
Keep it up.
RS
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- gootson
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Re: HOLO - Highest Open / Lowest Open Trade
In for GBPJPY short.
Edit:
Closed half, let rest run. Cheers
Edit:
Closed half, let rest run. Cheers
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Experience is one thing you can't get for nothing.
- Mira
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Re: HOLO - Highest Open / Lowest Open Trade
gootson wrote:In for GBPJPY short.
Edit:
Closed half, let rest run. Cheers
Sniper!
Good trading Gootson!
Can I ask you how the strategy is executed?
Thanks
__________ THE IS A LIE__________
- gootson
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Re: HOLO - Highest Open / Lowest Open Trade
Mira wrote:gootson wrote:In for GBPJPY short.
Edit:
Closed half, let rest run. Cheers
Sniper!
Good trading Gootson!
Can I ask you how the strategy is executed?
Thanks
Thank You,
I'm not sure what You mean, and I just started using it but still will try to answer. So basicly You wait for a new high/low of the day to be made. Than You mark highest of the day h1 open/lowest of the day h1 open and next You just wait for a price to close higher/lower of that marked high/low - that's how wicks are made. Author of the strategy wait for a m15 candle to close higher/lower than marked open, but I don't. You can use other TF if You want to have more possibilities and/or mix it with other strategies. To sum up: entering on candles open gives You an edge because if You are right Your entry will always be on good place. And how do You know You was right? Candle will close higher/lower than open. And again important thing... sth I wrote few posts earlier... In order to earn the money first You need to learn how not to lose it, I mean I'm wrong most of the time but still my balance is growing. To end up, some MightyOne quote, that also made me wonder... If You think that price will go in desired direction Add to position if You have doubts - close or reduce. It's not exact but this is how I remembered it. Hope it helps. Cheers!
Experience is one thing you can't get for nothing.
- gootson
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Re: HOLO - Highest Open / Lowest Open Trade
Long on XTIUSD, little bit late entry, as I got distracted, but decided to give it a go, because of the D1 open, we didn't have an upper tick, which may suggest that we are probably on the phase of making lower wick. Also the trend on d1 changed recently (ema 34). Note for any viewers - don't copy trades as I still have got a lot of bad trades and You might be upset with results Cheers!
Edit:
Close this one already and it turn out to be a looser. Still I left some limit order on the lowest h1 open... just in case. I'll post only closed trades from now on.
Edit2:
Limit order removed as we made a new lowest h1 close.
Edit3:
Took this as well, but already out. Chickened up So depressing.
Edit:
Close this one already and it turn out to be a looser. Still I left some limit order on the lowest h1 open... just in case. I'll post only closed trades from now on.
Edit2:
Limit order removed as we made a new lowest h1 close.
Edit3:
Took this as well, but already out. Chickened up So depressing.
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Experience is one thing you can't get for nothing.
- The_Snowman
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Re: HOLO - Highest Open / Lowest Open Trade
gootson wrote:Mira wrote:gootson wrote:In for GBPJPY short.
Edit:
Closed half, let rest run. Cheers
Sniper!
Good trading Gootson!
Can I ask you how the strategy is executed?
Thanks
Thank You,
I'm not sure what You mean, and I just started using it but still will try to answer. So basicly You wait for a new high/low of the day to be made. Than You mark highest of the day h1 open/lowest of the day h1 open and next You just wait for a price to close higher/lower of that marked high/low - that's how wicks are made. Author of the strategy wait for a m15 candle to close higher/lower than marked open, but I don't. You can use other TF if You want to have more possibilities and/or mix it with other strategies. To sum up: entering on candles open gives You an edge because if You are right Your entry will always be on good place. And how do You know You was right? Candle will close higher/lower than open. And again important thing... sth I wrote few posts earlier... In order to earn the money first You need to learn how not to lose it, I mean I'm wrong most of the time but still my balance is growing. To end up, some MightyOne quote, that also made me wonder... If You think that price will go in desired direction Add to position if You have doubts - close or reduce. It's not exact but this is how I remembered it. Hope it helps. Cheers!
Let's look at what you said compared to what the rules said
You say: wait for a new high/low of the day to be made
Rules say: Nothing about high or low of the day, except as stop loss.
You say: wait for a price to close higher/lower of that marked high/low
Rules say: Do not wait for the bar to close to enter a trade.
You say: Hope it helps.
I say: No, it doesn't, hope TRO will tell you same!
HIGHEST OPEN / LOWEST OPEN TRADE
Place a line at the highest H1 open and lowest H1 open for the current day.
Sell short at the highest H1 open after price goes up through it and comes back down.
Buy at the lowest H1 open after price goes down through it and comes back up.
Stop loss is the current daily high or current daily low.
Adjust your position size accordingly.
Take profit by moving stop.
When trade is +5 or more, move stop to BE+1.
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.
NOTE:
Do not wait for the bar to close to enter a trade.
WARNING
When price breaks through yesterday's high or low or makes a new high or low today, that is a breakout!
Trade the reversal with caution.
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