It has been a while since I have posted any new filters. I have been trading FOREX I am curious if my HOLO method is applicable to the longer time frames used by stock traders.
Let's see if I can dust off my old SF coding skills. Wonder if there is anything new I need to know.
Avery aka TheRumpledOne aka TRO
P.S. have you viewed the trading videos I posted on YouTube?
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HIGHEST OPEN / LOWEST OPEN TRADE
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Place a line at the highest M30 open and lowest M30 open for the current day.
If a bar makes a new highest M30 open, move the highest line up to the new highest open.
If a bar makes a new lowest M30 open, move the lowest line down to the new lowest open.
Sell short at the highest M30 open after price goes up through it and comes back down.
Buy at the lowest M30 open after price goes down through it and comes back up.
Stop loss is the current daily high or current daily low plus a few cents.
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.
You can do this manually or code an indicator to plot the highest/lowest M30 opens for the day.
I have a few YouTube videos explaining HOLO for Forex:
TRO, With this system, on the long side. If a candle opens at a new low, goes red, then reverses to green, would this be a buy signal? Also, what is the meaning of the terms "BE+1" and "BE+5"?
Good to see you back in this sand-box.
More importantly, what are the historical trading stats for this approach (either in Forex or with Stocks)? Win %, typical gain/loss per trade, typical holding time, etc.?
To the newbies, you will find Tro's systems very interesting at first, do to
exciting catch phrases and fluff, but you will quickly become disenfranchised
with the complexity & even more dismayed by the lack of payoff.
All sizzle no steak...
Watch his YouTube videos,
This man lives in a shanty in Oregon, who borrows DVDs from the library
and buys second hand items. You have been warned...
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