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Trading is as simple as 1-2-3

  • #7,521
  • Dec 13, 2018 3:40am Dec 13, 2018 3:40am
Attached Image (click to enlarge)
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Long EG +5 locked
  • #7,522
  • Dec 13, 2018 5:40am Dec 13, 2018 5:40am
Attached Image (click to enlarge)
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Short GBPCHF, well underway but decided to take it for amusement purposes +5 locked
  • #7,523
  • Dec 13, 2018 5:42am Dec 13, 2018 5:42am
My EG long is now +15 with a 10 trailer on
  • #7,524
  • Dec 13, 2018 6:00am Dec 13, 2018 6:00am
Still short the AU at +16, 10 trailer on, 4 hours later in this creeping market
  • #7,525
  • Dec 13, 2018 6:28am Dec 13, 2018 6:28am
Attached Image (click to enlarge)
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Short CA +5 locked Note price made no move toward high but I take these sometimes, and sometimes they work nicely as in this case.
  • #7,526
  • Dec 13, 2018 6:34am Dec 13, 2018 6:34am
Hi All,

I'm off for the next 3 weeks!
May you all have a splendid Christmas and only + growth on your accounts next year! Spend as much time with family and friend as possible !!

Cheers
Wapen
  • #7,527
  • Dec 13, 2018 8:33am Dec 13, 2018 8:33am
Quoting mizi123
{quote} After i have reduce the picture i have found that there is is inverted H&Sh {image}
In order to learn something new, one sometimes has to leave the old behind. 1-2-3 rules do not mention chart formations. We wait for a new daily high or daily low to be formed and then move on to Step 2 and 3. Keep it simple.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #7,528
  • Edited 4:47am Dec 14, 2018 12:38am | Edited 4:47am
Quoting TooSlow
{quote} Daily open is Broker open. The open corresponds to 5PM NY time. What makes that the most important information?
My broker's server time is 4 am (my time). At that time I am sleeping. LOL.
  • #7,529
  • Dec 14, 2018 2:41am Dec 14, 2018 2:41am
Attached Image (click to enlarge)
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Long CADCHF +5 locked
  • #7,530
  • Edited 4:20am Dec 14, 2018 3:02am | Edited 4:20am
Attached Image (click to enlarge)
Click to Enlarge Name: 121418eg.png Size: 17 KB

Short EG +5 locked same bar
  • #7,531
  • Edited 4:20am Dec 14, 2018 3:10am | Edited 4:20am
Attached Image (click to enlarge)
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Long GU +5 locked +27, 10 trailer on
  • #7,532
  • Edited 4:21am Dec 14, 2018 4:04am | Edited 4:21am
Attached Image (click to enlarge)
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Long GJ +5 locked +20, 10 trailer on
  • #7,533
  • Dec 14, 2018 2:53pm Dec 14, 2018 2:53pm
Quoting foxmaster
{quote} Thank you, I read that post and made a note of it, what is not entirely clear is that bar 2 has to be closed in order to qualify as a failed new H/L and therefor-- --am I correct that in the course of bar 3 you want price to trigger a trade in the required direction from above or below bar 2 open price, but moving in the desired direction at the time of the trade being triggered? Have been reading further, seems you enter the trade on the second bar and hope it doesn't make a higher high!
Don't know if you have now left the thread - I suspect you have, going by your responses - I am working my way through the last few weeks I have been away. However your question may be of interest to others new to the method.

Specifically your confusion about Bar #2. You are trading price, not the candle. You do not need the Bar #2 to close. If it has not made a new H / L and price drops over the Trigger Level, then you enter.

Yes, price may then turn back and go on to indeed make a new H / L but that's the nature of the game. You don't win 'em all.
  • #7,534
  • Dec 14, 2018 3:18pm Dec 14, 2018 3:18pm
Quoting aud
{quote} Hi Michael. If in your example bar B had not made a new high but had closed as an up bar, (and assuming) price had not returned to the open, there would be no trade. This is what happened in tenthman's trade. Do you still take the trade on bar "C" as tenthman did, be it as price crossed the open. If yes does bar C have to make a lower high than bar B or just lower than bar A. Hope this makes sense, good to see you posting in the thread again.
Michael answered this - but again, it's a useful point to go over again for others.

You trade the level.

OK, time moves on and the trade doesn't trigger immediately, so technically we are now moving out of 1-2-3 territory and into HOLO. I would look for entries on that method.

Whether you leave that level in place available to trade as a 1-2-3 is entirely up to you. Personally, I do. Others don't. My reasoning is, I use 1-2-3 and HOLO on higher tf trades as well, so the levels can stay in place for a lot longer and are simply a line-in-the-sand. So this is simply an extension of that way of trading for me.
  • #7,535
  • Dec 14, 2018 4:40pm Dec 14, 2018 4:40pm
Quoting Wapen
Hi All, I'm off for the next 3 weeks! May you all have a splendid Christmas and only + growth on your accounts next year! Spend as much time with family and friend as possible !! Cheers Wapen
Have a great Christmas, never the best idea to be trading at this time of the month - time off is a much better idea!
  • #7,536
  • Dec 15, 2018 4:53pm Dec 15, 2018 4:53pm
Quoting lemercenaire
{quote} Michael answered this - but again, it's a useful point to go over again for others. You trade the level. OK, time moves on and the trade doesn't trigger immediately, so technically we are now moving out of 1-2-3 territory and into HOLO. I would look for entries on that method. Whether you leave that level in place available to trade as a 1-2-3 is entirely up to you. Personally, I do. Others don't. My reasoning is, I use 1-2-3 and HOLO on higher tf trades as well, so the levels can stay in place for a lot longer and are simply a line-in-the-sand....

A HOLO can be a 1-2-3. A HOLO is not always a 1-2-3.

A 1-2-3 can be a HOLO. A 1-2-3 is not always a HOLO.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #7,537
  • Dec 17, 2018 2:19am Dec 17, 2018 2:19am
Attached Image (click to enlarge)
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Short EJ +5 locked
  • #7,538
  • Dec 17, 2018 2:22am Dec 17, 2018 2:22am
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Short EU +5 locked same bar
  • #7,539
  • Dec 17, 2018 4:45am Dec 17, 2018 4:45am
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Short NZDCHF +5 locked been playing around with some exotics lately
  • #7,540
  • Dec 17, 2018 4:48am Dec 17, 2018 4:48am
Quoting hal7
{image} Short NZDCHF +5 locked been playing around with some exotics lately
Taking a trip to the wild side, eh Hal?
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