Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

Trading Made Simple the right way, and other trading lessons 320 replies

Trading is this Simple? Finally Explained simple and clearly! 45 replies

trading is simple - trading is easy 43 replies

SIMPLE EA for a simple method needed!! 1 reply

Simple trading method 49 replies

Attachments: Trading is as simple as 1-2-3
Exit Attachments

Trading is as simple as 1-2-3

Quoting dbayo09
{quote} Wow thanks for your reply. Its little confusing with the bar chart, can you post a candlestick chart instead. Please take a look at the last 3 bar before the current bar on GU chart below. Is that a trade? {image}
As for your question, well, go through the checklist above and you tell me.

1: Is there a new Low?
2: Does the next bar fail to make a new low?
3a: If yes to the last two above, then we go in...where?
3b: If no to the last two above, then we...what?

We learn by doing here.

Post up your answers so the other new traders can also learn by your example.
Attached Image (click to enlarge)
Click to Enlarge Name: 81617123gj.png Size: 20 KB

Should be a wild day today with lots of news coming out. I took a quick -12 on the CA long and had this GJ short. In this case I had a recovery reverse in place at my stop. It was a whopping 44 pips flip which the news release erased. Worked in this case, but not recommended. The short target missed by .4, but I was late getting in also.
Attached Image (click to enlarge)
Click to Enlarge Name: 81617123cf.png Size: 20 KB

Short CF +5 locked
Attached Image (click to enlarge)
Click to Enlarge Name: 816123eg.png Size: 20 KB

Long EG +5 locked
One on the DE30 this morning. Once more, a follow-on from my early-morning DAX trade I run elsewhere, so easy enough to see the set-up forming...

Attached Image (click to enlarge)
Click to Enlarge Name: .DE30CashH1as1-2-3follow-on-fromDAX06.00-08.00Aug16th17.png Size: 30 KB


I didn't take the earlier set-up as I was pretty sure the move Northward still had some gas in the tank. As it turns out, you could ultimately have bagged on that one too, though I haven't checked to see if the long move to a new high came first or whatever.
Attached Image (click to enlarge)
Click to Enlarge Name: 81617123gu.png Size: 18 KB

Had this GU short from last hour +5 locked
Attached Image (click to enlarge)
Click to Enlarge Name: 81617123ca.png Size: 18 KB

Got some of my earlier CA loss back at +5. Went in after it made the new low on the hour and broke the open
Attached Image (click to enlarge)
Click to Enlarge Name: 81617123jy.png Size: 17 KB

Short JY, had been in this one several hours finally got my +5
Roughlly I know the logic of this system and I will try to code an EA based on the system.
I took the GBPUSD and USDCAD as well this morning ... thanks for the breakdown on how you managed 'em (better than I did! )

Am also in the USDJPY short ... it hasn't retraced in days so I'm eyeing an ambitious 110.37 (edit: closed at less ambitious +5)

Also thanks Lem for the pep talk / pip talk this is the coolest thread on FF ... looking forward to the PDF summary
Quoting willingwill
Roughlly I know the logic of this system and I will try to code an EA based on the system.
This method of trading does not lend itself well to EA, might want to check with TooSlow he has stated he doesn't want them on here.
Quoting Lifecycle
I took the GBPUSD and USDCAD as well this morning ... thanks for the breakdown on how you managed 'em (better than I did! ) Am also in the USDJPY short ... it hasn't retraced in days so I'm eyeing an ambitious 110.37 (edit: closed at less ambitious +5) Also thanks Lem for the pep talk / pip talk this is the coolest thread on FF ... looking forward to the PDF summary
Kind of a funky trading morning. As most are. There certainly has been movement though. I expect things will soon start grinding soon for the set up of Fed Minutes later and fireworks will probably ensue.
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow.png Size: 53 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
Quoting willingwill
Roughlly I know the logic of this system and I will try to code an EA based on the system.
Just do not post it in this thread.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
Short on AJ for +5

Attached Image (click to enlarge)
Click to Enlarge Name: 123.png Size: 131 KB
I had another short 123 on NJ for +5 and price went a full 1 pip past my TP and for some reason it never triggered. By the time I noticed it price had already retraced. I am currently waiting on price to return. I have another trade in to protect myself if need be..
Quoting bojack34
Short on AJ for +5 {image}
Cool. Did you take the previous one as well?
Quoting willingwill
Roughlly I know the logic of this system and I will try to code an EA based on the system.
You will be wasting your time. You don't need it. The entry technique is written in stone and is the ultimate in simplicity. What supercharges 1-2-3, is the trade-management. This is also coincidentally where an ea struggles.

If you are stubborn enough to continue, then I should say that I did help out another coder who wouldn't take a hint. The ea he'd originally come up with did not work...until I suggested sticking to the indices, specifically my Wild Bunch, the US30, US500, UK100, DE30 and F40.

Did it work after that? Yes. Did it make him a gazillionaire? Who knows - he disappeared over the horizon with his new box of tricks faster than you could say ''whoo-boop-dee-doo!''

One thing I will say, I wouldn't bother posting about it here.
Quoting lemercenaire
{quote} Cool. Did you take the previous one as well?
No I missed it.
Quoting lemercenaire
{quote} As for your question, well, go through the checklist above and you tell me. 1: Is there a new Low? 2: Does the next bar fail to make a new low? 3a: If yes to the last two above, then we go in...where? 3b: If no to the last two above, then we...what? We learn by doing here. Post up your answers so the other new traders can also learn by your example.
Thanks so much. You're a good mentor.
1. Yes
2. Yes
3a. At the Open of the second bar
3b. We look for another trade

Are we looking at new H/L with last H/L or yesterday's H/L
1 member viewing:
BrokeCollege