The purpose of this thread is to continue to develop trading rules based on 123 patterns.
In November 2010 I published an indicator called 123PatternsV6. That indicator was the result of much discussion and development work in a thread called [Multiple Trading systems gbpusd only]. Zamanib started that thread and I recognise his valuable work on that project.
The version of 123PatternsV6 that I use is unchanged for more than a year now and can be downloaded from that previous thread.
123Alarms addon see post #27
123Alarms update with email alerts post #1286 (7 Dec 2011)
Why a new thread ?
I am starting this new thread to start with a new focus and avoid confusion with that previous multiple systems thread.
Guidelines to keep this thread on-track
This thread's focus is using 123PatternsV6 for trading decisions.
- 123PatternsV6 custom indicator only
- No other custom indicators or systems discussed here
- Any MT4 built-in indicators and chart objects are OK
- Any currency pair is OK
- Any time frame is OK
- Normal charts only. Go to the previous thread (listed above) for a discussion of rangebar and other charts.
- Keep posted charts clean and easy to read. Use MT4 File.Save As Picture to create gifs. Use the attachment button in FF post editor to upload gifs and then insert into your post. This way we will not get those huge chart images wrapping the thread off the screen.
- When quoting someone else delete most of their post. There is no point quoting an entire 50 line post with a one or two line response. Learn how to use the editor properly, quote only the relevant words and cut the rest.
As you know a complete trading system involves much more than somebody's favorite indicator. Risk management, position sizing, timing, trading journals to evaluate progress, entry rules, exit rules and so on.
My goal for this thread is to work together on understanding 123 patterns, when are they useful, and when they are not.
In my posts I will filter out my own 'great ideas' or 'rules' that do not actually support consistent profit making. For example if adding a moving average looks cool/interesting but in reality makes it harder to make profitable trading decisions then it must be removed.
If you have an interest in 123 patterns and would like to work towards these goals then welcome trader, let's do some work.
PS Indicator support. Please use the private message system for support questions. Do not post support questions in this thread. Thanks.
PPS Removing rubbish posts. As moderator of this thread I will remove posts that I consider to be irrelevant or just basically rubbish. I know in my naive enthusiasm I've posted rubbish in some threads in the past. I know how it happens. This is a not a personal attack, it is just keeping the place tidy as a learning environment.
123PatternsV7 beta testing now in progress post #235 (14 Dec 2011)