Trading is as simple as 1-2-3

Short GU +5 locked Back in the fray after my remodeling adventure. I actually caught this run on the long side at the open of London, it ran +70 quickly, different method. took this down here and it is all ready down +30, now +58.

Hi to everybody in this great thread thanks to TooSlow,

I am following the method and already see his great potential. Now I am tring to fit it to my trading psychology which is the most dificult, to execute trades and manage it without fear, just to follow the rules.

Has someone followed up what is win rate if you take as reference TP-5 pips and stop loss as described in the method (daily HH/HL)?
One question more, it is concerning the money management, if you have bad sequence of two or several losses, do you consider that incresing of lot size for next trade(s) is a good method to hold good profit/loss ratio in the end of the week/month?

I have just missed to short GU as hal7 is showing above and this is one of the problem from which I am struggling. The timing to take the trade is very short but I will try to manage it.

hal7 how you achieve to get in so quick in the trade because the reverse was only 0.6 pips in this case, it is very easy to miss the precise entry as per the method?

Thanks in advance!

Haven't lost a beat, 3 hours+, +102

Some of these things you have to find out on your own my making trades, follow the rules, and learn. We can't make the trades for you, or assure you on everything. I took that trade because I saw the opportunity. It did just move .6 toward the high correct. I caught on a fairly significant reversal. They don't all run that way. I kept my original stop in place after taking some off at +5 that is how I caught the drop...

"hal7 how you achieve to get in so quick in the trade because the reverse was only 0.6 pips in this case, it is very easy to miss the precise entry as per the method?"

Hi Dimaga88

Since I am a novice myself, there are some things I have tried recently which have helped with precisely the question you ask (I think but you are the judge of this)...

I am trading only one pair (USDJPY) since friday and will continue to trade only this pair until this Friday - I think the importance of this training schedule (proposed by TooSlow) cannot be understated! I am using this 123 method and another method posted by TooSlow called the high open low open strategy.

Between Friday and today I am up 84 pips and down 13 from thirteen trades in total on ONE PAIR! There are SOOOOO many trading opportunities on one pair in a week!

For the most part i ignore other currencies. Every hour I try to check USDJPY for a set up. If ever I see a missed opportunity I do the following two things:

1. marvel at the simplicity and efficacy of this method and analyse how/why it seemed to work in the example i am looking at
2. appreciate that for every opportunity i capitalise on, there are probably hundreds (thousands?) that I have missed - I only need to win a few... there will always be more...

These are just some things I have experienced and seemed to work for me... I hope it is at least insightful and at most, helpful.

Thank you TooSlow for this thread and for HOLO thread.
Thank you hal7 for posting that GBPUSD trade! It was a thing of beauty!!!!

UJ buy +10

You're welcome, Mate. In case you haven't read through the threads - a 1-2-3 is sometimes a HOLO and a HOLO is sometimes a 1-2-3.

Long GU +5 locked closed out my short from yesterday at +154, up +30 on the long...

EJ sell same bar +4.4

Long EG +5 locked

AUDCAD. Exit +5. DT

+20 pips

sell eurgbp
5pip locked

Long NZ +5 locked

GU buy same bar +4

EURGBP. Exit. +10. DT

GBPUSD. Exit +8. DT

USDCAD. Exit +15.9 DT

Great thanks to TooSlow, Lem & hal7