Trading is as simple as 1-2-3 | Page 263 | Forex Factory

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Trading is as simple as 1-2-3

  • #5,241
  • Nov 24, 2017 10:02am Nov 24, 2017 10:02am
Quoting netas369
{quote} You mean close below the open in the m5 time frame ?
on 1 hour
Investing is SIMPLE but NOT EASY
  • #5,242
  • Nov 24, 2017 10:09am Nov 24, 2017 10:09am
Quoting Moly_Cam5
{quote} on 1 hour
So the current bar on which I took the trade it had to close below the previous bar open price, then on the new candle take the trade ? Because third rule says when it crosses then take the trade, or I dont understand something
  • #5,243
  • Nov 24, 2017 10:32am Nov 24, 2017 10:32am
Quoting netas369
{quote} You mean close below the open in the m5 time frame ? Or close below the previous H1 candle ? If yes then I understood the rules incorrectly
when you take the trade when just crosses you just put stoploss cause its an early entry or wait for the close below the open price
but wait for the LH-HH-LH to be formed to enter with good ratio to TP.

For GU pair the pattern is invalid till now cause the new high formed.

for the close point i guess the 1hour is more powerful
As i understood,, (TooSlow correct me if im wrong)
Investing is SIMPLE but NOT EASY
  • #5,244
  • Edited 2:02pm Nov 24, 2017 1:42pm | Edited 2:02pm
Quoting Moly_Cam5
{quote} wait for close below the previous (green) candle then sell {image}
Eh?!

1-2-3

H1 time-frame.

1: Bar #1 makes new high or low...
2: Bar #2 fails to make new high or low...
3: Enter as price crosses back over level of Bar #2's Open.

That's it. Simple. Nothing more, nothing less.

Anything added comes with experience and is on the trade-management side of things, not the entry rules.

What all this other stuff that you guys are doing, I have no clue.
  • #5,245
  • Nov 25, 2017 11:24pm Nov 25, 2017 11:24pm
When price is above an open, it is up. Conversely, when price is below an open, it is down. It is a good idea not to short when price is up and not to buy when price is down. Naturally, most traders look for reversals but are impatient and trigger happy thus buying when they should be selling and vice-versa.

That's London open btw - the arrow.
Am I onto something ?
Maybe you'll know what I'm talking about, maybe you won't
Either way for me its worth exploring
I see potential here

And I appreciate your journal !
Thank you for bringing something "useful" up.
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  • #5,246
  • Nov 26, 2017 4:34am Nov 26, 2017 4:34am
Quoting lemercenaire
{quote} Eh?! 1-2-3 H1 time-frame. 1: Bar #1 makes new high or low... 2: Bar #2 fails to make new high or low... 3: Enter as price crosses back over level of Bar #2's Open. That's it. Simple. Nothing more, nothing less. Anything added comes with experience and is on the trade-management side of things, not the entry rules. What all this other stuff that you guys are doing, I have no clue.

So my entries, was correct?
  • #5,247
  • Nov 26, 2017 6:40am Nov 26, 2017 6:40am
As i said im not PRO and i said
Quoting Moly_Cam5
(TooSlow correct me if im wrong)
Quoting lemercenaire
{quote} Eh?! 1-2-3 H1 time-frame. 1: Bar #1 makes new high or low... 2: Bar #2 fails to make new high or low... 3: Enter as price crosses back over level of Bar #2's Open. That's it. Simple. Nothing more, nothing less. Anything added comes with experience and is on the trade-management side of things, not the entry rules. What all this other stuff that you guys are doing, I have no clue.
There's no need to be repugnant in your reply like that
talk like a PRO and You are PRO in repulsive replies as i see
Investing is SIMPLE but NOT EASY
  • #5,248
  • Nov 26, 2017 6:49am Nov 26, 2017 6:49am
Quoting Moly_Cam5
As i said im not PRO and i said {quote} {quote} There's no need to be repugnant in your reply like that talk like a PRO and You are PRO in repulsive replies as i see
Ha ha ha. Whatever.

The rules were stated as plain facts. For some reason you took offence. Those who know me know that I will help above and beyond the line of duty. If you cannot understand the simplicity of those stated 1-2-3 facts, then I am sorry but it really cannot be made much simpler.

You're lucky I answered and not Too Slow, for he will not brook such rudeness.

Also, for that other question that keeps being asked about entry. You enter when price crosses the entry LEVEL. You do not need the #2 candle to close.

Take a Chill-Pill and have a good Sunday, lol.
  • #5,249
  • Nov 26, 2017 7:16am Nov 26, 2017 7:16am
Quoting lemercenaire
{quote} Ha ha ha. Whatever. The rules were stated as plain facts. For some reason you took offence. Those who know me know that I will help above and beyond the line of duty. If you cannot understand the simplicity of those stated 1-2-3 facts, then I am sorry but it really cannot be made much simpler. You're lucky I answered and not Too Slow, for he will not brook such rudeness. Also, for that other question that keeps being asked about entry. You enter when price crosses the entry LEVEL. You do not need the #2 candle to close. Take a Chill-Pill...
Moly must have got out the wrong side of the bed if he sees rudeness in your reply or maybe he is not English speaking and fails to appreciate the various nuances of the language.
The rules are simple and are posted in the first page and repeated ad nauseam throughout the thread.
Never mind Lem - some people just don't know when they are being helped.
every Saint has a past. Every Sinner has a Future
  • #5,250
  • Nov 26, 2017 7:44am Nov 26, 2017 7:44am
1) Did price make a new daily high/daily low last bar?

2) Did price fail to make a new daily high/daily low this bar?

3) Did I answer YES to Q1 and Q2? IF YES THEN ENTER AT H1 OPEN PRICE IN DIRECTION OPPOSITE OF NEW DAILY HIGH/DAILY LOW ELSE WAIT.


=================================================================================================


A bar makes a high and closes. Next bar fails to make a higher high and reverses. Sell when price drops below the open price of the current bar.

A bar makes a low and closes. Next bar fails to make a lower low and reverses. Buy when price rises above the open price of the current bar.
  • #5,251
  • Nov 26, 2017 9:49am Nov 26, 2017 9:49am
Quoting bojack34
1) Did price make a new daily high/daily low last bar? 2) Did price fail to make a new daily high/daily low this bar? 3) Did I answer YES to Q1 and Q2? IF YES THEN ENTER AT H1 OPEN PRICE IN DIRECTION OPPOSITE OF NEW DAILY HIGH/DAILY LOW ELSE WAIT. ================================================================================================= A bar makes a high and closes. Next bar fails to make a higher high and reverses. Sell when price drops below the open price of the current bar. A bar makes a low and closes. Next bar fails to make a lower...
That's the way to do it :-)
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every Saint has a past. Every Sinner has a Future
  • #5,252
  • Nov 26, 2017 11:04am Nov 26, 2017 11:04am
How much pips you bank by day or a week?
and its no matter from what time to trade?
  • #5,253
  • Nov 26, 2017 11:28am Nov 26, 2017 11:28am
I really like this strategy ,I read about 123 and Ross hook method on this strategy,do you guys use any indicator or EA or have you tried formulated any?
  • #5,254
  • Nov 27, 2017 3:25am Nov 27, 2017 3:25am
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Short EU +5 locked
  • #5,255
  • Nov 27, 2017 3:36am Nov 27, 2017 3:36am
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Long GJ +5 locked
  • #5,256
  • Nov 27, 2017 5:12am Nov 27, 2017 5:12am
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Long EG +5 locked
  • #5,257
  • Nov 27, 2017 7:44am Nov 27, 2017 7:44am
NZDUSD SL hit
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Wow! I've got some experience to gain.
  • #5,258
  • Nov 27, 2017 8:24am Nov 27, 2017 8:24am
Took another bite and got +5, took 50% off.
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Wow! I've got some experience to gain.
  • #5,259
  • Nov 27, 2017 8:56am Nov 27, 2017 8:56am
I have another question. Does the new bar after daily low or high I mean, must test that level(I mean almost touch), or just fail to make a new dl dh, no matter how close it was to it?
  • #5,260
  • Nov 27, 2017 9:13am Nov 27, 2017 9:13am
Quoting netas369
I have another question. Does the new bar after daily low or high I mean, must test that level(I mean almost touch), or just fail to make a new dl dh, no matter how close it was to it?
Go to Post 1. It is all there, if you keen and dedicated to make a go of this approach then make the effort to read from there.
The rules are not set in concrete -you have to make this approach your own, as Hal and others have, and exorcise some discretion on interpretation.
Read the whole thread and immerse yourself in it. The basic rules are above - experiment and make it your own.
every Saint has a past. Every Sinner has a Future
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