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Trading is as simple as 1-2-3

  • #8,401
  • May 27, 2019 3:03am May 27, 2019 3:03am
Quoting lemercenaire
cant see any diff there Lem bar 1 that I drew made a new high that failed becuase the 2 bar made new high ... next bar failed to make new high and retreated ... entry is the same ... imo also Lem its a 1 2 3 method why confuse with letters? Your bar #1 failed as the next bar became the new high. So your bar #1 is useless to the method and will play no part. The new high is established and becomes the set-up bar. Of course if you had entered early in the move off of your original high bar #1, then the #2 bar reversed and made a new high (it happens)...
Lem is right that bar 1 is not Daily high,i would request Lem to draw 123 like strapo did for us please,because this 123 is confusing many traders.
  • #8,402
  • May 27, 2019 3:18am May 27, 2019 3:18am
read and comprhend where did I say bar 1 was hi I said BAR 2 makes a higher high .. just forget it all , this is just EN .... trade your own way ... over those who cannot adapt ...
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  • #8,403
  • May 27, 2019 5:00am May 27, 2019 5:00am
Quoting aurifelix
So you guys are trading the double bank holiday today?
No, markets are pretty much shut down, Asia was still open and this is how that JY played out.
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  • #8,404
  • May 27, 2019 5:13am May 27, 2019 5:13am
Trying to explain a simple concept I suppose can get confusing. When you start attaching numbers to bars it probably adds to the confusion if people are not labeling the same bars. Or if they put too much focus on numbering bars and not watching price action against a new high or low for the day. Simple as that.

The way to do it is us follow the simple rules TooSlow lays out, they are always on his chart to see. New hour starts, did the last hour make a new high or low? If it did and the current hour bar you are watching fails to make a new high or low past that last hour, then breaks back the other direction through the open of the current hour bar then you make the trade. To me that is pretty straightforward and easy to follow.
  • #8,405
  • May 27, 2019 6:22am May 27, 2019 6:22am
Im over it HAl .. you have grasped the concept , I have , some are too confused ...my labelling was simply a way of seperating the confusion ... I think too many want something they dont even have to think about to make$$ not really interested in any more excuses for those unwilling to try and work it out .... .... imagine trying to explain hh ll system ... Keep up the greaat trading cheers
  • #8,406
  • May 27, 2019 7:19am May 27, 2019 7:19am
let me tell you why this confusion is happening ? because at this moment there are 2 threads named high open, low open and trading is as simple as 123,Entry rules are same in both the threads laid by Too slow,whereas in high open low open strategy,if we read all the explanations by Michael G then we get to learn that in HOLO strategy we go to lower time frame after once getting the setup on 1H time frame.I don't know about this thread 123 entry.

I am following HOLO rules of entry explained by MichaelG,he is a true leader.
  • #8,407
  • May 27, 2019 11:22am May 27, 2019 11:22am
Quoting T4Trade
let me tell you why this confusion is happening ? because at this moment there are 2 threads named high open, low open and trading is as simple as 123,Entry rules are same in both the threads laid by Too slow,whereas in high open low open strategy,if we read all the explanations by Michael G then we get to learn that in HOLO strategy we go to lower time frame after once getting the setup on 1H time frame.I don't know about this thread 123 entry. I am following HOLO rules of entry explained by MichaelG,he is a true leader.
In 1-2-3 you are trading price crossing a level. Price is the same on all time frames. Stay on the H1 bar chart for simplicity.

HOLO needs an m-15 or m-5 (depending on personal preference - you can even use m-1) candle to open in the Area of Interest.
  • #8,408
  • May 27, 2019 4:30pm May 27, 2019 4:30pm
Quoting lemercenaire
{quote} In 1-2-3 you are trading price crossing a level. Price is the same on all time frames. Stay on the H1 bar chart for simplicity. HOLO needs an m-15 or m-5 (depending on personal preference - you can even use m-1) candle to open in the Area of Interest.
Well explained, thank you.
  • #8,409
  • Edited 4:56am May 28, 2019 2:13am | Edited 4:56am
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Short GJ +5 locked +24
  • #8,410
  • May 28, 2019 3:04am May 28, 2019 3:04am
If your conditions for entry are met and you enter a trade, and the current candle makes a new high, do you close the trade immediately or wait for it to hit your SL? I closed mine just then for EG going short.
  • #8,411
  • May 28, 2019 3:11am May 28, 2019 3:11am
This might be of interest to followers of this method...a 123 Monthly on EG...just before it went up for 14 straight days
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  • #8,412
  • May 28, 2019 3:12am May 28, 2019 3:12am
Quoting aurifelix
If your conditions for entry are met and you enter a trade, and the current candle makes a new high, do you close the trade immediately or wait for it to hit your SL? I closed mine just then for EG going short.
Managing a trade like that is a matter of personal preference. Sometimes if you see the trade going against you and it is moving, you can save pips by exiting out before the stop hits. It can work both ways though there are times it can also turn around before hitting the stop and get target.
  • #8,413
  • May 28, 2019 3:15am May 28, 2019 3:15am
Quoting hal7
{quote} Managing a trade like that is a matter of personal preference. Sometimes if you see the trade going against you and it is moving, you can save pips by exiting out before the stop hits. It can work both ways though there are times it can also turn around before hitting the stop and get target.

Ok, thanks for the reply. For my early days using this method I may opt to close early, although a little pedantic, when the current candle makes a new high after you've entered the trade, the set-up isn't valid anymore, that's what I'm going off. If I see those candles turn around more often than not, I'll change it up accordingly.
  • #8,414
  • May 28, 2019 3:59am May 28, 2019 3:59am
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Long EU +5 locked
  • #8,415
  • May 28, 2019 6:03am May 28, 2019 6:03am
Quoting Tereticornis
This might be of interest to followers of this method...a 123 Monthly on EG...just before it went up for 14 straight days {image}
One of the reasons I was drawn to TS' methods here on FF is that they are very similar to techniques I used back-in-the-day when I was trained to use the very high time frames. 1-2-3 works all the way up as far as you want to take it.
  • #8,416
  • May 28, 2019 6:07am May 28, 2019 6:07am
Took this as a short, not much of retrace towards the daily high but took it based on yesterdays consolidation. Thought it might go a bit further but BE +2 is better than a loss!
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Everything should be made as simple as possible, but no simpler - Einstein
  • #8,417
  • May 28, 2019 8:47am May 28, 2019 8:47am
Good afternoon all. Well I won't be doing this time frame again..! 4hr on EURGBP +4
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  • #8,418
  • May 28, 2019 9:17am May 28, 2019 9:17am
Quoting doubletop
Good afternoon all. Well I won't be doing this time frame again..! 4hr on EURGBP +4 {image}
I know the feeling! EU seems to be in a tight channel today - something to do with the European elections and minister selection process?
Everything should be made as simple as possible, but no simpler - Einstein
  • #8,419
  • May 28, 2019 9:29am May 28, 2019 9:29am
Think your right Davidh061, been a long day for me.... just how it goes

Hope it's going well for you DT
  • #8,420
  • May 28, 2019 9:35am May 28, 2019 9:35am
One more SL hit for break even trade . DT
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