Looney 30 minute trend with 5 minute 123 trend continuation entry.
Markets are fractal ie waves within waves.
nicholas
www.123-trend-trading.com
Markets are fractal ie waves within waves.
nicholas
www.123-trend-trading.com
Trading Fibonacci Time Zones and Support and Resistance? 20 replies
Is Grid Trading (combined trend following and counter trend) Profitable? 3 replies
Trend Following? Support and resistance Trading? 2 replies
Automatic Trend line, trend channel, support, resistance detection 3 replies
is trading Support and Resistance considered mechanical? 2 replies
DislikedEURJPY - before and after pics 1st trade of the week
Trend
Retracement
123 Entry
Stop Loss
Take Profit
All clearly defined
nicholas
www.123-trend-trading.comIgnored
DislikedHey Nicholas,
Nice thread, we also trade Support and Resistance and agree with many of the concepts that you talk about...
Can i ask though why you prefer Bar charts to Candle stick charts? .... please excuse me if you've already addressed this but i cant seem to find it
Cheers.Ignored
DislikedWould you consider entering into trades that are not yet trending?
I mean if there is a 123 entry on the minor wave which in turn could turn into a 123 trend on the higher time frame (the picture explains it better).
Is that too risky?
Would that lower the 70% win ratio?Ignored
DislikedAlso, you say that you have a win percentage of around 70%.
Is that with a risk to reward ratio of 1:2 or is it 1:1.5 or 1:1? you didn't say.
Ignored
DislikedI would class a trade as being correct so long as from the entry the trend continues up to a new high as that is the aim of trend trading, however the 70% win ratio i refer to was based on the B/E % calculation which you would need to define according to your own account size and risk tolererance , in the examples i gave it was 1:2
nicholas
www.123-trend-trading.comIgnored
DislikedBy the way looking at the chart where you added the 123 , that is not a 123 entry at that point .Ignored
A FRACTAL is "a rough or fragmented geometric shape that can be split into parts, each of which is (at least approximately) a reduced-size copy of the whole, a property called self-similarity.
The rough or geometric shape that can be split into parts in trading terms is called a WAVE.
An UP WAVE is a series of price bars making higher highs and higher lows.
A DOWN WAVE is a series of price bars making lower highs and lower lows.
There are many types of wave in trading terms but the wave we are concerned with is called a TREND WAVE.
A TREND WAVE is a consistent pattern and generally most other types of wave in trading terms are not consistent enough to be used for trading purposes, a trend wave is formed by more waves moving in the same direction , each one of these waves links together to form the larger wave and they are composed of smaller waves themselves. The larger wave can be part of a larger wave or TREND.
A TREND is the general direction that something tends to move , in trading terms the general direction is up when the price is making a series of waves making higher highs and higher lows or the general direction is down when the price is making a series of waves making lower lows and lower highs.
So simple , you just have to understand that a wave is a series of bars but a trend is a series of waves
nicholas