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-   -   Trading is as simple as 1-2-3 (https://www.forexfactory.com/thread/549745-trading-is-as-simple-as-1-2-3)

lemercenaire Oct 30, 2017 10:36am | Post# 4941

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Decided to go with something different to try and counter the Monday Morning Blues effect.

Cable's always good for a laugh, especially these days, so that's where I headed.

I didn't take the two early moves, as I was looking for a positive push one way to give me a greater likelihood of a retrace entry at least but the 09:00 bar would have given you something to get started with. The next entry off of the open of the 11:00 would have bagged nada on a standard entry but an easy enough recovery on a counter. So pretty much Even-Steven at that point.

Then I got my big move...

Set-Up bar came on the 11:00 and entry number one on the Noon, which then turned and made a new high. Entry number two come off that.

The 13:00 bar also pushed a few pips higher before dropping the way I was wanting and I then took my third bite off of the current 14:00 bar's entry.

Kept a body busy - suits me fine. Lunchtime now

GBPUSD H1
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birdland Oct 30, 2017 12:10pm | Post# 4942

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i took three +5 pip trades:
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hal7 Oct 31, 2017 4:30am | Post# 4943

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Long EG +5 locked

hal7 Oct 31, 2017 7:09am | Post# 4944

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Short GU +5 locked

lemercenaire Oct 31, 2017 10:22am | Post# 4945

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Was watching this for another method and figured it was worth a 1-2-3 entry. Paid off just fine.

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TooSlow Oct 31, 2017 11:32am | Post# 4946

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hal7 Nov 1, 2017 4:47am | Post# 4947

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Short GU +5 locked

hal7 Nov 1, 2017 5:13am | Post# 4948

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GJ short +9 locked

hal7 Nov 1, 2017 5:55am | Post# 4949

Made it to +17 on the GU, then zapped on the news release, ditto on the GJ

HighFive Nov 1, 2017 6:32am | Post# 4950

Great work Hal, I love these 123's

hal7 Nov 1, 2017 6:48am | Post# 4951

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CF short +5 locked

hal7 Nov 1, 2017 6:54am | Post# 4952

Great work Hal, I love these 123's
Thx HighFive, yeah they do pretty well, especially if you can latch on to one for a flyer...

hal7 Nov 1, 2017 7:35am | Post# 4953

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Another shot at the GU short +7 locked

hal7 Nov 1, 2017 7:50am | Post# 4954

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Long CA +8 locked

hal7 Nov 1, 2017 9:01am | Post# 4955

CA +23, 20 trailer on

lemercenaire Nov 1, 2017 9:07am | Post# 4956

CA +23, 20 trailer on
UC (what you call CA) has just moved into HOLO short territory. Just a heads-up.

hal7 Nov 1, 2017 9:51am | Post# 4957

Thanks for the heads-up Lem, I think it bumped its head at 2910.

sdatta Nov 1, 2017 9:51am | Post# 4958

very interesting concept and KISS.

any guidance on SL/TP?

hal7 Nov 1, 2017 10:17am | Post# 4959

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Short JY +15 locked

hal7 Nov 1, 2017 10:23am | Post# 4960

very interesting concept and KISS. any guidance on SL/TP?
Hi sdatta, I use SL of 5 above the high on a short, 3 below the low on a long.
TP is something you have to play around with. I used to take about 80% off my trade when I hit +5.

Recently I have been letting the entire trade ride shooting for +20 then going to a 20 trailer. In this approach looking more for a sustained move. Sometimes you can catch that hi or lo for the day and ride it a long way.

Good trading.


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