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Trading is as simple as 1-2-3

  • #4,421
  • Aug 15, 2017 4:11pm Aug 15, 2017 4:11pm
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.
  • #4,422
  • Aug 16, 2017 3:45am Aug 16, 2017 3:45am
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.
  • #4,423
  • Aug 16, 2017 4:14am Aug 16, 2017 4:14am
Attached Image (click to enlarge)
Click to Enlarge Name: 81617123cf.png Size: 20 KB

Short CF +5 locked
  • #4,424
  • Aug 16, 2017 4:26am Aug 16, 2017 4:26am
Attached Image (click to enlarge)
Click to Enlarge Name: 816123eg.png Size: 20 KB

Long EG +5 locked
  • #4,425
  • Aug 16, 2017 4:33am Aug 16, 2017 4:33am
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.
  • #4,426
  • Aug 16, 2017 5:03am Aug 16, 2017 5:03am
Attached Image (click to enlarge)
Click to Enlarge Name: 81617123gu.png Size: 18 KB

Had this GU short from last hour +5 locked
  • #4,427
  • Aug 16, 2017 5:26am Aug 16, 2017 5:26am
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
  • #4,428
  • Aug 16, 2017 5:56am Aug 16, 2017 5:56am
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
  • #4,429
  • Aug 16, 2017 7:04am Aug 16, 2017 7:04am
Roughlly I know the logic of this system and I will try to code an EA based on the system.
  • #4,430
  • Aug 16, 2017 7:56am Aug 16, 2017 7:56am
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
  • #4,431
  • Aug 16, 2017 8:14am Aug 16, 2017 8:14am
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.
  • #4,432
  • Aug 16, 2017 8:18am Aug 16, 2017 8:18am
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.
  • #4,433
  • Aug 16, 2017 9:51am Aug 16, 2017 9:51am
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
  • #4,434
  • Aug 16, 2017 9:53am Aug 16, 2017 9:53am
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
  • #4,435
  • Aug 16, 2017 12:19pm Aug 16, 2017 12:19pm
Short on AJ for +5

Attached Image (click to enlarge)
Click to Enlarge Name: 123.png Size: 131 KB
  • #4,436
  • Aug 16, 2017 12:39pm Aug 16, 2017 12:39pm
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..
  • #4,437
  • Aug 16, 2017 12:51pm Aug 16, 2017 12:51pm
Quoting bojack34
Short on AJ for +5 {image}
Cool. Did you take the previous one as well?
  • #4,438
  • Aug 16, 2017 1:06pm Aug 16, 2017 1:06pm
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.
  • #4,439
  • Aug 16, 2017 1:12pm Aug 16, 2017 1:12pm
Quoting lemercenaire
{quote} Cool. Did you take the previous one as well?
No I missed it.
  • #4,440
  • Aug 16, 2017 1:27pm Aug 16, 2017 1:27pm
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
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