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Trading is as simple as 1-2-3

  • #4,741
  • Oct 9, 2017 2:05pm Oct 9, 2017 2:05pm
Quoting lemercenaire
{quote} Still rockin'... {image}
Quote
That ain't workin' that's the way you do it
Pips for nothin' and your chicks for free.

(with apologies to Dire Straits)

Great trade... whilst I'm using just the specific HOLO, rather than 123, entry setup (which I think would have caught the same entry anyway), this is very similar to how I'm managing my trades, looking for larger, multiple R targets.

Btw, I see there have been a few questions from people new to these two threads about both HOLO and 123 : I'd strongly recommend taking TooSlow's 10 trade challenge... and do it again & again until you get it. You won't regret it if you do (also, I'm not using any specific indicators : I just draw lines on my H1 chart).
  • #4,742
  • Oct 9, 2017 4:08pm Oct 9, 2017 4:08pm
Quoting JaqenHgar
{quote} {quote} (with apologies to Dire Straits) Great trade... whilst I'm using just the specific HOLO, rather than 123, entry setup (which I think would have caught the same entry anyway), this is very similar to how I'm managing my trades, looking for larger, multiple R targets. Btw, I see there have been a few questions from people new to these two threads about both HOLO and 123 : I'd strongly recommend taking TooSlow's 10 trade challenge... and do it again & again until you get it. You won't regret it if you do (also, I'm not using any specific...
Thanks, JH. You seem to be getting a handle on things.

I have been very busy on ''life stuff'' away from the charts lately and other than my trades on the DAX first thing in the morning uk time, I have only been able to dip in and out of both 1-2-3 and especially HOLO.

If I am looking at a 1-2-3 set up these days, more often than not, I will look at the indices first now, as you get very solid, predictable, moves, with lots of bang-for-your-buck. I am lucky in that living in the UK, trading these instruments is not the problem that it can be elsewhere in the world.

Your comments re running TS' 10-trade challenge on HOLO also ring true. Practice, practice...then practice some more. A couple of horizontal lines are all you need.
  • #4,743
  • Oct 10, 2017 3:24am Oct 10, 2017 3:24am
Attached Image (click to enlarge)
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Long EG +5 locked
  • #4,744
  • Oct 10, 2017 6:23am Oct 10, 2017 6:23am
Once again as a carry over from my early morning DAX-Trades, a very, very, nice drop on The Monster. Just The DAX being The DAX, really but always nice to see.

I could have nabbed some jam on the bounce back up but didn't go in. Evil Smiley-Face was happy enough with what we got.

DAX (Trigger on 09:00 bar, uk time)
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  • #4,745
  • Oct 10, 2017 6:50am Oct 10, 2017 6:50am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Quoting lemercenaire
Once again as a carry over from my early morning DAX-Trades, a very, very, nice drop on The Monster. Just The DAX being The DAX, really but always nice to see. I could have nabbed some jam on the bounce back up but didn't go in. Evil Smiley-Face was happy enough with what we got. DAX (Trigger on 09:00 bar, uk time) {image}

Hello my fellow dax trader, I am looking for 13080 don't underestimate the beast..holding long from 11240 !
  • #4,746
  • Oct 10, 2017 7:03am Oct 10, 2017 7:03am
Hi, thank's for the strategy, but I have a question.
The rule is that the second bar after DH or DL bar, must retest this level, but at some examples I see that bar go a little to the dl/dh direction then reverses and then you take the trade, so that is not actually retest, or we can take trades like this or I missunderstood something ?

Thank's for reply
  • #4,747
  • Oct 10, 2017 7:26am Oct 10, 2017 7:26am
Quoting ams
{quote} Hello my fellow dax trader, I am looking for 13080 don't underestimate the beast..holding long from 11240 !
Howdy. 13080, eh? Good luck - I think you'll either just get it or we will have another big drop. The last 5 days have certainly bogged down on the Daily tf. It will be interesting to see how this week pans out after last week's doji. (No gap, so not a Doji-Star but a Doji for sure). Certainly to me, the pressure seems to be (overall) to the downside on the H4 and H1 set-ups.

You have held long since 11240? That's a long time ago!!! That used to be the way I played the game but no more.
  • #4,748
  • Oct 10, 2017 7:32am Oct 10, 2017 7:32am
Quoting netas369
Hi, thank's for the strategy, but I have a question. The rule is that the second bar after DH or DL bar, must retest this level, but at some examples I see that bar go a little to the dl/dh direction then reverses and then you take the trade, so that is not actually retest, or we can take trades like this or I missunderstood something ? Thank's for reply
Hi there.

No misunderstanding. You will often get into a trade and then have price reverse enough on you for it to then make a new H / L before then turning again and continuing on in the direction of your trade. Looking at it after the fact, all you see is that you have entered on the ''wrong'' candle.

How you deal with this is all down to your own personal style of trading and how tight your stop is etc. HAL and I both have methods to deal with these moves, however these are not covered by the ''standard'' 1-2-3 method and are techniques we have developed over time.
  • #4,749
  • Oct 10, 2017 7:44am Oct 10, 2017 7:44am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Quoting lemercenaire
{quote} Howdy. 13080, eh? Good luck - I think you'll either just get it or we will have another big drop. The last 5 days have certainly bogged down on the Daily tf. It will be interesting to see how this week pans out after last week's doji. (No gap, so not a Doji-Star but a Doji for sure). Certainly to me, the pressure seems to be (overall) to the downside on the H4 and H1 set-ups. You have held long since 11240? That's a long time ago!!! That used to be the way I played the game but no more.
I know crazy, well I already had short I held from 12850 few months ago and cashed when it dropped to 11900. Then waited patiently on 200 day ma and price didn't go beyond 12000 and us indices kept making higher highs..i took the chance now doing the same and will again go short at 130080 or so till 12350
  • #4,750
  • Oct 10, 2017 7:59am Oct 10, 2017 7:59am
Quoting lemercenaire
{quote} Hi there. No misunderstanding. You will often get into a trade and then have price reverse enough on you for it to then make a new H / L before then turning again and continuing on in the direction of your trade. Looking at it after the fact, all you see is that you have entered on the ''wrong'' candle. How you deal with this is all down to your own personal style of trading and how tight your stop is etc. HAL and I both have methods to deal with these moves, however these are not covered by the ''standard'' 1-2-3 method and are techniques...
Thank you for your reply. Another question is the bar which made the new Daily high/low must be previous bar from current, or doesn't matter like the bar made a new daily high like 10 bars ago and current bar retested that level, can we take the trade in situations like this ?
  • #4,751
  • Oct 10, 2017 10:15am Oct 10, 2017 10:15am
Quoting netas369
{quote} Thank you for your reply. Another question is the bar which made the new Daily high/low must be previous bar from current, or doesn't matter like the bar made a new daily high like 10 bars ago and current bar retested that level, can we take the trade in situations like this ?
Others may correct me, but I think that's a HOLO entry.
Wow! I've got some experience to gain.
  • #4,752
  • Oct 10, 2017 10:31am Oct 10, 2017 10:31am
Quoting Lawnman
{quote} Others may correct me, but I think that's a HOLO entry.
Wasn't so deep into holo strategy, but I think on HOLO candle should be the lowest open or the highest open, on this case it doesn't matter
  • #4,753
  • Oct 10, 2017 11:13am Oct 10, 2017 11:13am
Attached Image (click to enlarge)
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,754
  • Oct 10, 2017 12:17pm Oct 10, 2017 12:17pm
Quoting netas369
{quote} Thank you for your reply. Another question is the bar which made the new Daily high/low must be previous bar from current, or doesn't matter like the bar made a new daily high like 10 bars ago and current bar retested that level, can we take the trade in situations like this ?
The trade set up comes as price crosses back over the open of the bar following the new H / L.
  • #4,755
  • Oct 11, 2017 4:10am Oct 11, 2017 4:10am
Attached Image (click to enlarge)
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Short EU +5 locked
  • #4,756
  • Oct 11, 2017 4:50am Oct 11, 2017 4:50am
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Also took the EJ short profit at +5 and switched to 20 trailer, currently +21
  • #4,757
  • Oct 11, 2017 10:15am Oct 11, 2017 10:15am
Attached Image (click to enlarge)
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,758
  • Edited 12:38pm Oct 11, 2017 10:33am | Edited 12:38pm
Quoting TooSlow
{image}
TS and I on the same page...

USDJPY
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  • #4,759
  • Oct 12, 2017 3:03am Oct 12, 2017 3:03am
Too busy probably over-thinking things on my early DAX trades meant that I actually didn't even see this classic move this morning.

Mr-Angry Face is just sad...

DAX
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  • #4,760
  • Oct 12, 2017 4:21am Oct 12, 2017 4:21am
Attached Image (click to enlarge)
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Short AU from previous hour +5 locked.
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