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HOLO - Highest Open / Lowest Open Trade

Posted: Thu Aug 04, 2016 10:27 am
by PTG
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:

Re: HOLO - Highest Open / Lowest Open Trade

Posted: Thu Aug 04, 2016 10:27 am
by PTG
Templates and indicators:

Templates and indicators for HOLO 160804.rar
PTG templates and required indicators dated Aug 16th 2016
(33 KiB) Downloaded 987 times

Re: HOLO - Highest Open / Lowest Open Trade

Posted: Thu Aug 04, 2016 10:28 am
by PTG
Reserved

Re: HOLO - Highest Open / Lowest Open Trade

Posted: Thu Aug 04, 2016 10:48 am
by PTG
Example:

2016-08-04_1245.png
2016-08-04_1245.png (90.73 KiB) Viewed 9462 times

Re: HOLO - Highest Open / Lowest Open Trade

Posted: Thu Aug 04, 2016 12:28 pm
by TheRumpledOne

Re: HOLO - Highest Open / Lowest Open Trade

Posted: Thu Aug 04, 2016 1:04 pm
by TheRumpledOne
GBPUSDM15.png
GBPUSDM15.png (58.83 KiB) Viewed 9431 times


The multimeters display the distance price is from highest open / lowest open for M1 through H4.

The multipair indicator shows the distance price is from highest H1 open / lowest H1 open for all of the pair selected. You can click on the pair to change the chart to that pair.



The circles with numbers on the inside are NOT the 3_Level_ZZ indicator. It is the TRO_DYNAMIC_HOLO indicator showing the highest/lowest open for the selected periods. 5 is M5, 1 is H1 and 4 is H4.

Re: HOLO - Highest Open / Lowest Open Trade

Posted: Thu Aug 04, 2016 1:41 pm
by TheRumpledOne
EURJPYM15.png
EURJPYM15.png (50.96 KiB) Viewed 9420 times


I am still working on the TRO2016_HOLO_SETUP indicator.

Re: HOLO - Highest Open / Lowest Open Trade

Posted: Thu Aug 04, 2016 2:24 pm
by MightyOne
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.

Re: HOLO - Highest Open / Lowest Open Trade

Posted: Thu Aug 04, 2016 2:44 pm
by TheRumpledOne
TRO_HOLO.png
TRO_HOLO.png (56.61 KiB) Viewed 9406 times


TRO_TRAINING_WHEELS_HOLO with IDIOT MODE. When you see the skull, you are an IDIOT if you enter the trade.

Re: HOLO - Highest Open / Lowest Open Trade

Posted: Thu Aug 04, 2016 2:44 pm
by TheRumpledOne
TheRumpledOne wrote:TRO_HOLO.png

TRO_TRAINING_WHEELS_HOLO with IDIOT MODE. When you see the skull, you are an IDIOT if you enter the HOLO trade because you are not following the rules.