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Trading is as simple as 1-2-3

  • #6,281
  • May 3, 2018 11:34am May 3, 2018 11:34am
Yeah, I only use bar charts on this method, sorry.

Update on my trades EJ +86, GJ +112.....
  • #6,282
  • May 3, 2018 4:49pm May 3, 2018 4:49pm
here you go rookie14,
hal7s trade with bars. hope you like it! Nice one hal.

Attached Image (click to enlarge)
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  • #6,283
  • May 3, 2018 5:05pm May 3, 2018 5:05pm
Thank you kindly
I understand it was very silly to ask but it just give more visual

If I may ask you please, based on Candle stick patterns please some one explain this system please
If it distracts everyone then please kindly PM me and will be glad to know it

Thanks in advance
R
  • #6,284
  • May 4, 2018 2:54am May 4, 2018 2:54am
Attached Image (click to enlarge)
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Long EU same bar +5. NFP day so things could get funky later. Still in my EJ and GJ trades from yesterday +102, +132.
  • #6,285
  • May 4, 2018 2:57am May 4, 2018 2:57am
Quoting hal7
{image} Long EU same bar +5. NFP day so things could get funky later. Still in my EJ and GJ trades from yesterday +102, +132.
Nice plays this week, Hal.

I don't mean to sound like your Jiminy Cricket but do remember that Japan will come back online next week and so I would be very, very, wary of giving into the temptation of holding any JPY pairs open over the weekend, if that is in your mind.
  • #6,286
  • May 4, 2018 3:11am May 4, 2018 3:11am
Quoting lemercenaire
{quote} Nice plays this week, Hal. I don't mean to sound like your Jiminy Cricket but do remember that Japan will come back online next week and so I would be very, very, wary of giving into the temptation of holding any JPY pairs open over the weekend, if that is in your mind.
I thought that was a cricket. I have them on on 20 trailers Lem, so I am in for the rest of the year if need be. But I think NFP release will take me out at profit long before then. Yeah I nailed a few this this week, persistence pays off. Thanks...
  • #6,287
  • May 4, 2018 3:14am May 4, 2018 3:14am
Quoting hal7
{quote} I thought that was a cricket. I have them on on 20 trailers Lem, so I am in for the rest of the year if need be. But I think NFP release will take me out at profit long before then. Yeah I nailed a few this this week, persistence pays off. Thanks...
I was imagining a jump over any trailer if it gaps - but yeah, I know you know what you're doing. The comment was more for anyone else dropping by.
  • #6,288
  • May 4, 2018 3:18am May 4, 2018 3:18am
Got it. Here is a real laugher.... I just checked the trades and I had never switched them to 20 trailers yesterday. The original stops were still on. No wonder I am still in them...
  • #6,289
  • May 4, 2018 3:21am May 4, 2018 3:21am
Quoting hal7
Got it. Here is a real laugher.... I just checked the trades and I had never switched them to 20 trailers yesterday. The original stops were still on. No wonder I am still in them...
  • #6,290
  • May 4, 2018 3:39am May 4, 2018 3:39am
Quoting hal7
Got it. Here is a real laugher.... I just checked the trades and I had never switched them to 20 trailers yesterday. The original stops were still on. No wonder I am still in them...
i thought that, good "lucky decision"
i do it similar with the second position and mostly let them run till the end of the day. no trailer.
trading is like dancing, don't think and just listen to the music!
  • #6,291
  • May 4, 2018 4:15am May 4, 2018 4:15am
Quoting birdland
{quote} i thought that, good "lucky decision" i do it similar with the second position and mostly let them run till the end of the day. no trailer.
Attached Image (click to enlarge)
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Yep, good idea. I usually like the trailer as I often will be gone after I get them running. You can see here it ran down to about +170 by then end of the before turning.
  • #6,292
  • May 4, 2018 4:18am May 4, 2018 4:18am
Attached Image (click to enlarge)
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Short on the CF I will take the modest +5, not expect too much on this pair. That is a wrap for me on the week, I don't want to get too rich...
  • #6,293
  • May 4, 2018 12:42pm May 4, 2018 12:42pm
Quoting TooSlow
{image} I repeat this so new comers don't have to go back to the first post: A bar makes a NEW DAILY 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 NEW DAILY 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. Let me rephrase in the form of yes/no or true/false questions. 1) Did a new daily high or new daily low happen during the previous bar. If YES/TRUE go to question 2, otherwise...
Hi,

I have understood the rules. Same as your other thread.

Let me ask you a question. Usually on a bearish trend, in Asia, before Frankfurt open the hourly bar makes a new high for the day and reverses.

For example I am seeing GU pair which is bearish for many days.

Do you suggest to look for hourly bar to make a new high for the day and next bar failure.? I mean one should look to sell condition ?

If that is the case, do You suggest anything see trend?

The rules of the system suggests both sides of trades.

I have 200 EMA as trend setter though.
Attached Image (click to enlarge)
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Intraday only.
  • #6,294
  • May 4, 2018 1:24pm May 4, 2018 1:24pm
Quoting rookie14
Thank you kindly I understand it was very silly to ask but it just give more visual If I may ask you please, based on Candle stick patterns please some one explain this system please If it distracts everyone then please kindly PM me and will be glad to know it Thanks in advance R
You don't need to know candle ''patterns''. This method is broken down into three questions:

1: Did this H1 candle make a new High?

If the answer is ''yes'', then...

2: Did the H1 candle that follows that new High, candle #2, test and fail to make a higher High?

If the answer is ''yes'', then...

3: Enter a SELL trade as price drops back and crosses the Open Level of Candle #2.

That's it. Do the opposite for BUY trades.


If the answer to Q2 is ''No'' and the candle #2 did make a newer High, then go back to Q1.
  • #6,295
  • May 4, 2018 1:28pm May 4, 2018 1:28pm
Quoting lemercenaire
{quote} You don't need to know candle ''patterns''. This method is broken down into three questions: 1: Did this H1 candle make a new High? If the answer is ''yes'', then... 2: Did the H1 candle that follows that new High, candle #2, test and fail to make a higher High? If the answer is ''yes'', then... 3: Enter a SELL trade as price drops back and crosses the Open Level of Candle #2. That's it. Do the opposite for BUY trades. If the answer to Q2 is ''No'' and the candle #2 did make a newer High, then go back to Q1.
It is clear, yes, but is it always good to trade in the trend direction?

Trend : If today's hourly candle high is not broken the yesterday's high, then is bearish trend, can we call it?
Intraday only.
  • #6,296
  • May 4, 2018 1:35pm May 4, 2018 1:35pm
Quoting navk
{quote} Hi, I have understood the rules. Same as your other thread. Let me ask you a question. Usually on a bearish trend, in Asia, before Frankfurt open the hourly bar makes a new high for the day and reverses. For example I am seeing GU pair which is bearish for many days. Do you suggest to look for hourly bar to make a new high for the day and next bar failure.? I mean one should look to sell condition ? If that is the case, do You suggest anything see trend? The rules of the system suggests both sides of trades. I have 200 EMA as trend setter...
In general, trade what you see. Try not to over-analyse things.

I understand your question and if the best way to deal with this kind of thing is to watch and understand how a particular pair behaves over a period of time. In this case, is that hourly bar before the Frankie open reversing, a repeatable event you can take advantage of? Does it fit into 1-2-3. If so, that's fine, make it part of your trading plan. If not, then ignore it.

The more you filter the number of pairs you watch and run a stable of charts that you like, the more you will see their movements as repeatable patterns to fit into how 1-2-3 works (or not).

I'd also say that using the 200 ema to filter trades is going to keep you out of a lot of good moves.

The beauty of 1-2-3 is in its simplicity - don't overthink it.
  • #6,297
  • May 4, 2018 1:39pm May 4, 2018 1:39pm
Quoting navk
{quote} It is clear, yes, but is it always good to trade in the trend direction? Trend : If today's hourly candle high is not broken the yesterday's high, then is bearish trend, can we call it?
I don't pay much, if any, attention to the previous day's High or Low.

All I look at is the day in front of me.
  • #6,298
  • May 4, 2018 1:43pm May 4, 2018 1:43pm
I understand. Thanks. Yes, retracements also money. Good long 40 pips from GU lows.
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Intraday only.
  • #6,299
  • May 7, 2018 3:21am May 7, 2018 3:21am
Attached Image (click to enlarge)
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Short GJ +5 locked. GU is on holiday today, but enough movement here to capture a few pips. I liked the move right to the high and then failing coming back down.
  • #6,300
  • Edited 3:34am May 8, 2018 2:40am | Edited 3:34am
Attached Image (click to enlarge)
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Short NZ +5 locked +11, 10 trailer on +31 20 trailer on
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