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-   -   How to use the 123 strategy effectively (https://www.forexfactory.com/showthread.php?t=232466)

tsoo Oct 25, 2014 1:02pm | Post# 1621

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Hello,

Im trying to learn 1-2-3 pattern, i but a photo to attach to see if im right.
If anybody have time please check!

Question is to I play when the movement is 2 to 3 or i always play after 3?

Best wishes
T
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bogus Oct 26, 2014 3:18pm | Post# 1622

Hello, Im trying to learn 1-2-3 pattern, i but a photo to attach to see if im right. If anybody have time please check! Question is to I play when the movement is 2 to 3 or i always play after 3? Best wishes T {image}
I wouldn't take a trade as it is going sideways.

capstone Oct 26, 2014 9:28pm | Post# 1623

Hello, Im trying to learn 1-2-3 pattern, i but a photo to attach to see if im right. If anybody have time please check! Question is to I play when the movement is 2 to 3 or i always play after 3? Best wishes T {image}
You should consider taking the time to read the thread from the beginning and read any pdf attachment available about what a 123 is. You really only have one marked on your chart correctly, and that is the first one.

specul8r Nov 23, 2015 10:53am | Post# 1624

Are people still using this method?

Xela Nov 23, 2015 2:49pm | Post# 1625

Are people still using this method?

I'm not quite sure exactly what you're referring to, when you say "this method" (that's entirely my fault for not having read the thread and not intending to, because there's over 1,600 posts of it, and a two-minute glance-through at randomly selected pages suggests to me that - like so many - it's full of chat about indicators, which have nothing to do with trading 1-2-3 formations!), but I trade 1-2-3 formations every day. And Ross hooks arising after them even more so and with effectively slightly larger position-sizing (partly because one can trade them with smaller stop-losses).

I'd imagine, actually, that many people who've been trading 1-2-3 formations are "still" trading them, because they're a comparatively easy, reliable and profitable trading method, so they certainly "shouldn't" be something that people too readily abandon.

specul8r Nov 24, 2015 6:09am | Post# 1626

{quote} I'm not quite sure exactly what you're referring to, when you say "this method" (that's entirely my fault for not having read the thread and not intending to, because there's over 1,600 posts of it, and a two-minute glance-through at randomly selected pages suggests to me that - like so many - it's full of chat about indicators, which have nothing to do with trading 1-2-3 formations!), but I trade 1-2-3 formations every day. And Ross hooks arising after them even more so and with effectively slightly larger position-sizing (partly because...

That is exactly what I wanted to know - Thank you Xela. I do trade the 123 and RH - but have been facing psychological barriers - unable to pull the trigger, trading too many sessions (Euro and The US session). So just wanted to know if it was the pattern or my mind that was failing. It is good to know it is me that is the problem and not the pattern.

Much appreciated Xela

tradingjedi Apr 13, 2016 4:00pm | Post# 1627

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It's been forever since I've posted on this forum but here goes. Looking for an entry here:
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**Update: News almost bumped me out of this one but I'm still in at the moment.

tradingjedi Apr 14, 2016 10:04am | Post# 1628

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In on another one at the moment:
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suthmo May 22, 2016 9:04am | Post# 1629

123 system is possibly the greatest simple trading system ever. Use trend signal indicator to find the entry point and adx cross chase with sl till it breaks out.
Entry at 2 stop loss at 3 but trend signal indicator shows safe place to enter aslo.

abacus23 Nov 16, 2016 10:00am | Post# 1630

suthmo, How to use the 123 strategy effectively

I am trading the 123 method with a good success rate. Recently I have taken 9 trades, used exactly the same method, and lost 8 of of 9 times.

You refer to a "trend signal indicator", I am using pro-realtime charts, I can't see any trend signal indicator?

Please could you elaborate?

When you trade using the 123, do you go to a higher time frame first, then take the 123 in the direction of trend, or take all 123's, or do you wait for a 123 at support?

If you have a chart, that would be fantastic, I have tried looking through your past posts and images, but I can't seem to find anything relevant.

Thanks in advance.

suthmo Nov 16, 2016 10:47am | Post# 1631

suthmo, How to use the 123 strategy effectively I am trading the 123 method with a good success rate. Recently I have taken 9 trades, used exactly the same method, and lost 8 of of 9 times. You refer to a "trend signal indicator", I am using pro-realtime charts, I can't see any trend signal indicator? Please could you elaborate? When you trade using the 123, do you go to a higher time frame first, then take the 123 in the direction of trend, or take all 123's, or do you wait for a 123 at support? If you have a chart, that would be fantastic, I have...
I found a good guide to this about 8 years ago, If I can find that I will re post. There is more about only taking the trade when adx indicator crosses up through 30, the 123 is in place and the trend signal arrow gives entry. The guide said never enter through the overnight. I will try and find the full guide later. Just counting euro waves here reversal is due. MORE LATER

abacus23 Nov 16, 2016 11:05am | Post# 1632

suthmo,

Thank you for your reply.

I was only entering during FTSE trading hours, no overnight trading.

I dont appear to be able to find a trend signal arrow, hopefully that will be in the guide.

If you could find it, or remember the author i may be able to find it.

Thanks again.

suthmo Nov 16, 2016 9:36pm | Post# 1633

1 Attachment(s)
123 guide attached

Trend Signal Indicator when see the arrows on your chart enter close to one of them.

https://www.mql5.com/en/market/product/6417?p=44wp
1234_forex_system.zip

abacus23 Nov 17, 2016 6:27am | Post# 1634

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Suthmo,

Many thanks for the trend signal indicator and the files, its much appreaciated.

I will have to download MT4 and have a look.

Is the 1234 Forex system a pdf document? I have a rar, but when i open it, it says I require a"1234_forex_systen.rari...ase" enter the password.

I have looked through the files on the nugraha files, it refers to the MACD and shows graphs as attached, but nothing about the ADX or the trend signal indicator.

Many thanks, sorry for so many questions.
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suthmo Nov 17, 2016 12:46pm | Post# 1635

Temporal junction point, paradox occurring...
Massive discrepancy across broker platforms.

suthmo Nov 17, 2016 1:04pm | Post# 1636

No problem abacus, the password is on the guide page.

pipshaman Nov 18, 2016 12:56am | Post# 1637

Lol, 82 pages for such a simple "strategy" !
First of all, 123 strategy is a reversal strategy. I have seen here posted charts with 123 as a continuation pattern. As a continuation pattern within a trend is no more 123, it is simply retracement and continuation of the move in the direction of the trend. I have also seen some MA's and fibs, it has nothing to do with this fib levels and any MA.
123 is a reversal pattern, short or long term reversal pattern and it works in any TF when the price reverses. An early indication of a reversal is given by a divergence with an oscilator but even with the help of a divergence this 123 reversal pattern may not work all the time especialy when the trend is strong. It is working very well when the price is rejected by a strong resistance or support level, a daily or weekly level. It is also working very well in ranging markets and not so much in trading markets.
Regards!

antonsatu Nov 18, 2016 2:56am | Post# 1638

123 guide attached Trend Signal Indicator when see the arrows on your chart enter close to one of them. https://www.mql5.com/en/market/product/6417?p=44wp {file}

please info the password.

thanks

suthmo Nov 20, 2016 11:57am | Post# 1639

4 Attachment(s)

123 System by Suthmo


Chart setup:


Buy and Sell Arrows

You'll want the attached buy and sell arrow indicator (in place of simple trend signal indicator)

Download the file extract and place the .ex4 file inside C:\Program Files (x86)\MetaTrader\MQL4\indicators (MAC OS Version included)


Average Directional Index

You'll want to add ADX to your chart and add levels 30 and 70

you can probably substitute adx for any other MA crossover indi aka MACD


Execution


When you see a price extreme make a 123 end, look for a Buy and sell arrows to put your entry.
Zoom down to 15 minute chart and look for a safe entry arrow.
Enter at level at top of candle if it's blue enter near the top of the candle that gave the arrow.

If it's red enter at level at bottom of the candle that produced the red sell arrow. Red for sell, blue for buy.

Check to see if ADX is crossing up through 30 for buy or down through 70 for sell setups. Do not enter without this confirmation.


Never Enter during the overnight session.

You can also enter at point 2. placing stop loss beyond point .3 per standard 123 protocol, if you so choose.


Take profits

Trail your profits until you are knocked out then look for the next set up.


BuySellArrowScalper_V2.0.ex4_.zip
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suthmo Nov 21, 2016 9:53am | Post# 1640

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Are they gonna fly? GBP/USD already 150 pips north today.
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