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How to use the 123 strategy effectively

Quoting pres78
Not sure just yet, I will watch PA as it approches the level to see if there is any visible interest in taking out the level. If it seems buyers are in control I will buy the break otherwise I may wait for the old Ross Hook break, retrace and then buy the breakout of new point 2. If I buy the initial break I will use point 1 as SL to give this trade some room.

We are also getting close to close of US session and London is already gone so PA could be slow anyway.

If the break doesn't happen within the next 1 - 1.5 hours I will call it off...
Thanks! Good luck with it! Am off for a glass of something cold...!
Quoting pres78
Not sure just yet, I will watch PA as it approches the level to see if there is any visible interest in taking out the level. If it seems buyers are in control I will buy the break otherwise I may wait for the old Ross Hook break, retrace and then buy the breakout of new point 2. If I buy the initial break I will use point 1 as SL to give this trade some room.

We are also getting close to close of US session and London is already gone so PA could be slow anyway.

If the break doesn't happen within the next 1 - 1.5 hours I will call it off...

I will take what ever happens as I have to be black and white with the signals and do no pa analysis

that saying the only alarm bell in my head is that Im looking for longs on GU and short on EU I like them in sync with one another

P
Quoting Paulus
I will take what ever happens as I have to be black and white with the signals and do no pa analysis

that saying the only alarm bell in my head is that Im looking for longs on GU and short on EU I like them in sync with one another

P
Since I trade these 123's both ways I am more in a shade of gray than black and white . As long as were making money at this everyday what were doing is working.
Today's zone = Tomorrow's opportunity!
Jumped into two short set-ups... GBPUSD long I was eyeing broke down (lost my point 3).

See if either one hits TP. EUR didn't retrace much so I am using point 1 as SL and -100 as TP.
Attached Images
Today's zone = Tomorrow's opportunity!
Quoting pres78
Jumped into two short set-ups... GBPUSD long I was eyeing broke down (lost my point 3).

See if either one hits TP. EUR didn't retrace much so I am using point 1 as SL and -100 as TP.
SL hit on the GBPUSD trade... ah well. Let the EURUSD trade run and call it a day.

4 wins, 1 loss and one trade open... up 15% today could go to 10% or 20%. Either way a good day. I might look at setting a goal that if I hit 10% or 15% profit on a day I quit trading so as not to give it all back... not to push my luck so to speak.
Attached Image
Today's zone = Tomorrow's opportunity!
Quoting pres78
SL hit on the GBPUSD trade... ah well. Let the EURUSD trade run and call it a day.

4 wins, 1 loss and one trade open... up 15% today could go to 10% or 20%. Either way a good day. I might look at setting a goal that if I hit 10% or 15% profit on a day I quit trading so as not to give it all back... not to push my luck so to speak.
Closed the EURUSD trade at BE so I finish the day up 15%. US closes in less than 2 hours and I won't be home in time to close before this happens. It was a good day but I wish I had of just called it a day after 4 wins... overtrading can be just as bad as missing a good trade. See everyone at Asian open to see if they offer anything interesting.
Today's zone = Tomorrow's opportunity!
Hi ChinaWombat, hi Paulus,

Does it make sende if we're ranging pre LO to have two countings in place - like on GU this morning?

Would this be a valid count for EU?

Thanks

Thomas

Quoting ChinaWombat
then they become 1
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Click to Enlarge Name: eu counting.jpg Size: 78 KB
I am a newbie to the 123 reversal trading strategy.Earlier,I traded the EURUSD (long) it hit the TP target but because of greed -by wanting more-the trade went in the opposite direction.
With God all things are possible.
Hi Paulus,

What made you not taking these on EU?

Thanks

Thomas

Quoting Paulus
Ive sat out alot today waiting for signals but I never beat myself up about it

Ok we have a great down trend and I got do pips from it but that cuts both ways I didnt lose either and there were no signals so Im ok with that

'lion in the long grass dont forget '

Trades today

Just got TP on eu long 123 picked bottem absolutely perfectly for 27pips
Nice GU short for 68 pips

up 10% or if your pip counting 95 pips
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Quoting pres78
Good day then. Even 2% a day compounds nicely.
Hello pres78....yes indeedy, 2% does work well! My capital is a bit low, but *if* this continues to work as it has, things should be good...

However, I'm wondering what will happen come summer and lower liquidity....it just seems a bit too easy.....still, who am I to say..if this is "the grail" (lol), then it is!

Regards,

Jeff
Quoting stljeffbb
Hello pres78....yes indeedy, 2% does work well! My capital is a bit low, but *if* this continues to work as it has, things should be good...

However, I'm wondering what will happen come summer and lower liquidity....it just seems a bit too easy.....still, who am I to say..if this is "the grail" (lol), then it is!

Regards,

Jeff
The trick is to recognize your capital, trade within it and let it grow accordingly. As far as the summer and low liquity... Just trade the set-ups as they come and take your 2-5% per trade and grow your account by that same amount each day even if it is with only one trade each day as price movements and set ups allow.

Most of us traded over the Christmas break and made money with the big money, market movers on holidays.

Trade the set-ups as they come regardless of the liquity and take the winners and losers both in stride and onto the next trade.

Best of luck and I look forward to enjoying this thread with all of the great subscribers.

Jason (pres78)
Today's zone = Tomorrow's opportunity!
Quoting pres78
A little wary about that 5510 break out level... 5 - 5min candles all hit and stopped at that level... a break and hold should signal some nice upside gains IMHO...
In this long trade with an updated point 2... target is 150% fib.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 35 KB
Today's zone = Tomorrow's opportunity!
pres78

where did you get that indicator ? (forex factory calendar)

can you share it with us?

thanks.
Quoting pres78
In this long trade with an updated point 2... target is 150% fib.
Bad start SL hit. Caught an early one yesterday... not so good tonight. On to the next set-up.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 35 KB
Today's zone = Tomorrow's opportunity!
Quoting ForexSV
pres78

where did you get that indicator ? (forex factory calendar)

can you share it with us?

thanks.
I got it from this thread... http://www.forexfactory.com/showthread.php?t=114792

It's called Sonic FFCal Headlines.
Today's zone = Tomorrow's opportunity!
Quoting pres78
I got it from this thread... http://www.forexfactory.com/showthread.php?t=114792

It's called Sonic FFCal Headlines.
pres78 would you be kind and post it here...

sonics thread has 1100 pages, i tried using "search" and got lots of "Sonic FFCal Headlines" but none of them were indicator itself...

please, can u help. thanks.
Quoting ForexSV
pres78 would you be kind and post it here...

sonics thread has 1100 pages, i tried using "search" and got lots of "Sonic FFCal Headlines" but none of them were indicator itself...

please, can u help. thanks.
http://www.forexfactory.com/showthread.php?t=19293

Regards,
Bak
Quoting Bakuli
http://www.forexfactory.com/showthread.php?t=19293

Regards,
Bak
thanks.
for something different in the 1-2-3- trading arsenal, this is an original gartley set-up, and also known, and made popular, as the Trader Vic 1-2-3 set-up, it's an agressive entry and needs confirmation at 1.4945 (point2)

we didn't get set on yesterdays 1-2-3 so see how this pans out tonight
Attached Image (click to enlarge)
Click to Enlarge Name: jan0611 30m vic 1-2-3.gif Size: 23 KB
Catching a falling knife, no, I'm just trading the Gartley!
triggered long on e/u 5mn. risk 5% tp +5%....long pending on g/u 5mn

edit: g/u triggered as well
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