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Trading is as simple as 1-2-3

  • #4,841
  • Oct 23, 2017 11:02am Oct 23, 2017 11:02am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,842
  • Oct 24, 2017 2:09am Oct 24, 2017 2:09am
An opportunity to profit from a mistake on my morning DAX trade. I missed the entry on that but the 1-2-3 set-up was there and I took that entry instead. The spread is higher at that time, so I was ready to take the profit a bit earlier if I needed to or it looked like the move was failing. It went fine.

DAX
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  • #4,843
  • Oct 24, 2017 2:17am Oct 24, 2017 2:17am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Quoting lemercenaire
An opportunity to profit from a mistake on my morning DAX trade. I missed the entry on that but the 1-2-3 set-up was there and I took that entry instead. The spread is higher at that time, so I was ready to take the profit a bit earlier if I needed to or it looked like the move was failing. It went fine. DAX {image}
Hi short mua for 12920ishhh
Then I go long again.. have my puts from 13080 in parallel
  • #4,844
  • Oct 24, 2017 2:30am Oct 24, 2017 2:30am
Quoting ams
{quote} Hi short mua for 12920ishhh Then I go long again.. have my puts from 13080 in parallel
The local meeting of DAXaholics Anonymous
  • #4,845
  • Oct 24, 2017 2:34am Oct 24, 2017 2:34am
GJ sell
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  • #4,846
  • Oct 24, 2017 2:44am Oct 24, 2017 2:44am
As The DAX was pretty much done-and-dusted, I took a look elsewhere and there was a cracker sitting up and begging.

This is on the Germany30 / France40 Future Diff (Dec)...It was crying out for that overnight gap to be filled and sure enough...

G30 / F40 Differential Market
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Low-risk trade. Love it.

That's probably me done for just now. I sat up for the Monday Night Football game and have had about an hour-and-a-half of sleep. Snooze-Ville is calling, lol.

Play safe out there, guys. Back later.
  • #4,847
  • Oct 24, 2017 3:05am Oct 24, 2017 3:05am
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Long EU +5 locked
  • #4,848
  • Oct 24, 2017 3:14am Oct 24, 2017 3:14am
Cable long
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  • #4,849
  • Oct 24, 2017 3:24am Oct 24, 2017 3:24am
Quoting hal7
{image} Long EU +5 locked
i have a question: right after the H1 open EU was rising. it was not testing the low of the H1 bar before.
also there was not really a time to place an order.
how do you handle these matter? do you immediatelly buy after the close of the H1 bar?
thx.
ps: i added a m1 chart
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trading is like dancing, don't think and just listen to the music!
  • #4,850
  • Oct 24, 2017 3:52am Oct 24, 2017 3:52am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Quoting lemercenaire
As The DAX was pretty much done-and-dusted, I took a look elsewhere and there was a cracker sitting up and begging. This is on the Germany30 / France40 Future Diff (Dec)...It was crying out for that overnight gap to be filled and sure enough... G30 / F40 Differential Market {image} Low-risk trade. Love it. That's probably me done for just now. I sat up for the Monday Night Football game and have had about an hour-and-a-half of sleep. Snooze-Ville is calling, lol. Play safe out there, guys. Back later.
Good one matey!! I am going zzzzzzzzzz when will I see 920 or not
  • #4,851
  • Edited 4:11am Oct 24, 2017 3:58am | Edited 4:11am
Quoting birdland
{quote} i have a question: right after the H1 open EU was rising. it was not testing the low of the H1 bar before. also there was not really a time to place an order. how do you handle these matter? do you immediatelly buy after the close of the H1 bar? thx. ps: i added a m1 chart {image}
That's a good question birdland. The only right answer is what works for you. Technically the EU did move toward the low, .1 pip at 1.17549 to the open of 1.7550. Others might say well it has to move significantly toward that low first. I have seen too many take off though right at that open move and never come back. I am also long right now with the GU and the NZ. The NZ is a good example of that type of move, it had a very small stop loss off that nice move up and sits at +11. I have all the pairs I watch, 10 altogether and go with what I see as movement in my direction, sometimes right, sometimes wrong, real trading.

To further answer your question as to how to get into the trades so quickly. Have to be very fast on some of them, like judging a fast ball. Others much easier as they slowly move the other direction then come back through the open. On those I have an audio alert set on MT4. But my actual trades are made on the Oanda java platform, which is quick and I have all my buttons set up. Incidentally though I say I am locking a portion of profit at +5, this week I am experimenting by not taking anything off and letting the trade ride +5 just being a visual target. Varying the approach leads to many interesting discoveries, failure and success.
  • #4,852
  • Oct 24, 2017 4:59am Oct 24, 2017 4:59am
Quoting hal7
{quote} That's a good question birdland. The only right answer is what works for you. Technically the EU did move toward the low, .1 pip at 1.17549 to the open of 1.7550. Others might say well it has to move significantly toward that low first. I have seen too many take off though right at that open move and never come back. I am also long right now with the GU and the NZ. The NZ is a good example of that type of move, it had a very small stop loss off that nice move up and sits at +11. I have all the pairs I watch, 10 altogether and go with what...
thank you very much for your detailed answer!
so now i am aksing myself IF i will buy right at the open of the new H1 bar OR wait for some testing of the old low/high form the H1 bar before.
because i like to see some testing of the old lows today i missed all three possible trades (EU,GU and NU)...but this is not a big problem for me.

anyway a nice "trade opening"- approach from tooslow...

and your 5 pip targets sounds logic, i know some traders here on ff which are totally satisfied with this small target.
trading is like dancing, don't think and just listen to the music!
  • #4,853
  • Oct 24, 2017 5:15am Oct 24, 2017 5:15am
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Here is a EJ short I got into several hours ago. Finally got to +5. Worth the wait, as you can see with this one it did move significantly toward the high before failing and slowly drifted back down to the trade trigger. Risk was only about 8 pips
  • #4,854
  • Oct 24, 2017 9:38am Oct 24, 2017 9:38am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,855
  • Oct 24, 2017 12:01pm Oct 24, 2017 12:01pm
Hi all,
I have been reading this thread and really like the simplicity.

I have a couple questions to clear up to make sure in trading this correctly.

Are you guys entering with buy and sell stops that you enter while price is testing the low/high? Or are you manual entering.

Also, were entering while the bar that's testing the high or low is still open? So price heads towards the low/high, reverses, then as soon as it hits the open price of the test bar initiate the trade? So this may cause a close higher than your entry on a sell and vice versa?

And at about what point are you guys locking in 5 pips. Maybe after it moves 10 pips?

I'm sure I'll have more questions.

Thanks in advance.

Dave
  • #4,856
  • Oct 24, 2017 12:24pm Oct 24, 2017 12:24pm
Quoting Dmarth10
Hi all, I have been reading this thread and really like the simplicity. I have a couple questions to clear up to make sure in trading this correctly. Are you guys entering with buy and sell stops that you enter while price is testing the low/high? Or are you manual entering. Also, were entering while the bar that's testing the high or low is still open? So price heads towards the low/high, reverses, then as soon as it hits the open price of the test bar initiate the trade? So this may cause a close higher than your entry on a sell and vice versa?...
Hi Dmarth - good to have you here.

I can only answer for myself but I think most, if not all, of us running 1-2-3 will be in the same ball-park. Anyway...

1: I enter manually.
2: I enter as soon as price crosses the open level. This will mean that the bar could still reverse and go on to make a new high / low on the day. That's the chance you take. Manage your open trade and re-enter on the next bar.
3: I bank my 5% as soon as it is cleared (85 - 90 percent of the trade size) and the rest is left open to do what it will.

Money-management is so incredibly personal and we here have our own ways of doing things that suit our trading style and psychological makeup. Once you have run 1-2-3 for a while, you'll discover which way suits you. (For me, I Counter-Trade to keep any negative trades in limbo, HAL does something similar).

When it all comes down to it, all of this is jam - the important stuff is:

1: Bar #1 makes new High / Low...
2: Bar #2 tests but doesn't make a new High / Low...
3: Enter as price crosses over the Open Level of Bar #2.

Don't overthink it.

See Line...Trade Line.
  • #4,857
  • Oct 25, 2017 12:34am Oct 25, 2017 12:34am
Early GJ sell, a nice 20 odd pip move with a tiny stoploss
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  • #4,858
  • Oct 25, 2017 1:12am Oct 25, 2017 1:12am
Long UJ all over in less than 5 mins, lovely
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  • #4,859
  • Oct 25, 2017 3:06am Oct 25, 2017 3:06am
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Long GU +5 locked
  • #4,860
  • Oct 25, 2017 3:09am Oct 25, 2017 3:09am
Quoting HighFive
Early GJ sell, a nice 20 odd pip move with a tiny stoploss {image}
Classic PA - nice catch.
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