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Plan the Trade

  • #12,781
  • Apr 4, 2020 9:19am Apr 4, 2020 9:19am
I think you are right. I just traded this in sim as I was out for the afternoon yesterday. Personally, I found it 'horrible'. Green/red lines were where I should have entered but didn't, I had no confidence whatsoever. Be interested to see how Harold did if he traded it.

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'in less than half an hour he made over 100 ticks'
  • #12,782
  • Apr 5, 2020 5:29am Apr 5, 2020 5:29am
Hello guys,

longtime lurker, been studying divergence method way back into flag trading thread. But little lost right now about the setup. I thought the best one was to trade pullbacks to point 3 after 123, but now I see you trade like break above/below candle that made point 3, is that right? Its like typical approach with this setup, but earlier one, because you dont wait to break point 2, but going earlier. Thank you for potential clarification. Best.
  • #12,783
  • Apr 5, 2020 8:03am Apr 5, 2020 8:03am
Quoting onejester
I think you are right. I just traded this in sim as I was out for the afternoon yesterday. Personally, I found it 'horrible'. Green/red lines were where I should have entered but didn't, I had no confidence whatsoever. Be interested to see how Harold did if he traded it. {image}
had a few +2s and 1 losing trade
  • #12,784
  • Edited 1:19pm Apr 5, 2020 9:04am | Edited 1:19pm
Quoting Fischerman
Hello guys, longtime lurker, been studying divergence method way back into flag trading thread. But little lost right now about the setup. I thought the best one was to trade pullbacks to point 3 after 123, but now I see you trade like break above/below candle that made point 3, is that right? Its like typical approach with this setup, but earlier one, because you dont wait to break point 2, but going earlier. Thank you for potential clarification. Best.
This is the most up to date, sets out really clearly:
Inserted Video


Edit:
Ask yourself what conditions exist for a 123 break? When do they fail? And what happens when they fail? Is there another opportunity or is there a reversal? Do the same with Harold's setups - that's what got me started. Don't go looking for the answers elsewhere, find them yourself on the chart. Some days you will get caught out - expect it. Ask why, what were the conditions - often you will get an aha moment that you can exploit.

Open trading view on your phone or tablet (you can take off the wicks), when you have dead time start looking for your references. Also I stick with one market. Takes real focus & persistence.
'in less than half an hour he made over 100 ticks'
  • #12,785
  • Apr 5, 2020 9:27am Apr 5, 2020 9:27am
Quoting Fischerman
Hello guys, longtime lurker, been studying divergence method way back into flag trading thread. But little lost right now about the setup. I thought the best one was to trade pullbacks to point 3 after 123, but now I see you trade like break above/below candle that made point 3, is that right? Its like typical approach with this setup, but earlier one, because you dont wait to break point 2, but going earlier. Thank you for potential clarification. Best.
Hey, it’s just random. When the strategy no longer works and you’re in the red, it changes. Divergence changes as he sees fit and uploads a video showing his new technique, hence, confirming that the current strategy no longer works.

subscribe to his YouTube to stay up to date.
So many in the Commercial section want to make me rich! :o
  • #12,786
  • Apr 5, 2020 9:37am Apr 5, 2020 9:37am
Quoting FX-Flux
{quote} Hey, it’s just random. When the strategy no longer works and you’re in the red, it changes. Divergence changes as he sees fit and uploads a video showing his new technique, hence, confirming that the current strategy no longer works. subscribe to his YouTube to stay up to date.
been trading 123s for 10+years the setup consistently works only changes would be MM tf and now candles with no wicks kinda traders trick entry but the strategy works
  • #12,787
  • Apr 5, 2020 9:56am Apr 5, 2020 9:56am
Quoting Fischerman
Hello guys, longtime lurker, been studying divergence method way back into flag trading thread. But little lost right now about the setup. I thought the best one was to trade pullbacks to point 3 after 123, but now I see you trade like break above/below candle that made point 3, is that right? Its like typical approach with this setup, but earlier one, because you dont wait to break point 2, but going earlier. Thank you for potential clarification. Best.
a little background reading/homework, "law of the charts" and a book by trader Vic, "methods of a wall street master" will help.
regards
goma
  • #12,788
  • Apr 5, 2020 2:11pm Apr 5, 2020 2:11pm
Hello guys,

thank you all very much for the advice, will check the video and books. Hope I will be able to participate in the debate with my trades soon.
  • #12,789
  • Apr 6, 2020 6:00am Apr 6, 2020 6:00am
Quoting Divergence
{quote} been trading 123s for 10+years the setup consistently works only changes would be MM tf and now candles with no wicks kinda traders trick entry but the strategy works
Link about 1-2-3 and Hook

https://fxssi.com/1-2-3-reversal-pat...s-hook-pattern
  • #12,790
  • Apr 6, 2020 6:12am Apr 6, 2020 6:12am
Quoting Divergence
{quote} been trading 123s for 10+years the setup consistently works only changes would be MM tf and now candles with no wicks kinda traders trick entry but the strategy works
My comment was mainly based on changing time frames. Why did you stop trading the 200tick chart and volume levels? Something must have stopped working. People on this thread seek to mimic you, right down to your exact chart settings. You seem to be able to think for yourself and change up the strategy at a whim, which is good for you but not so good for the people who will continue along a failing path.
So many in the Commercial section want to make me rich! :o
  • #12,791
  • Apr 6, 2020 7:22am Apr 6, 2020 7:22am
Quoting bapakjason
{quote} Link about 1-2-3 and Hook https://fxssi.com/1-2-3-reversal-pat...s-hook-pattern
Observation of price action, this and your own variations on the theme.
'in less than half an hour he made over 100 ticks'
  • #12,792
  • Apr 6, 2020 8:54am Apr 6, 2020 8:54am
Cry me a river. Can't trade now, I don't care - too angry

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'in less than half an hour he made over 100 ticks'
  • #12,793
  • Apr 6, 2020 9:45am Apr 6, 2020 9:45am
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Become the casino
  • #12,794
  • Apr 6, 2020 9:47am Apr 6, 2020 9:47am
Quoting onejester
Cry me a river. Can't trade now, I don't care - too angry {image}
vix jumped and stops got hit. at least that is my take on the activity this morning. stuck with micro's 3 trades, first just picked wrong direction,
second also wrong direction should have waited for the ross hook, third correctly judged hit trailing stop (here's a case for the widening of stops/limit
targets) hindsight is 20-20, that's what makes this type of trading challenging.
good luck
regards
goma
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  • #12,795
  • Apr 6, 2020 11:13am Apr 6, 2020 11:13am
Respect to H and the rest of you that can trade 20sec NQ consistently - i've been trying to emulate over the last 18 months or so but i haven't been able to make it work so far. The whole process did, however, steer me to profitability with 123s as the key ingredient. During these times and the fact that i'm UK based, FTSE has been a tamer animal than NQ and not using futures right now - when/if conditions normalise i'll probably trade NQ again with this approach. Daily chart on left for levels of interest; 5min for entry/exit, i look for 123s to form 'neatly' around the kejun/base line (in testing, i found this a better than trad MAs) supported by rsi and action around the 50 level - no doubt some of your eyes are rolling but hey, horses for courses

Trade and keep well, all.
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  • #12,796
  • Apr 6, 2020 1:36pm Apr 6, 2020 1:36pm
Quoting Noeyedear
Respect to H and the rest of you that can trade 20sec NQ consistently - i've been trying to emulate over the last 18 months or so but i haven't been able to make it work so far. The whole process did, however, steer me to profitability with 123s as the key ingredient. During these times and the fact that i'm UK based, FTSE has been a tamer animal than NQ and not using futures right now - when/if conditions normalise i'll probably trade NQ again with this approach. Daily chart on left for levels of interest; 5min for entry/exit, i look for 123s to...
Eyes not rolling at all, in fact I tried the dax myself but it just de focused me. You have to do what works for you, respect if you have the discipline to stick at it. I too learned a lot from Harold's & CG's posts. Foundational.
'in less than half an hour he made over 100 ticks'
  • #12,797
  • Apr 6, 2020 1:55pm Apr 6, 2020 1:55pm
Quoting FX-Flux
{quote} My comment was mainly based on changing time frames. Why did you stop trading the 200tick chart and volume levels? Something must have stopped working. People on this thread seek to mimic you, right down to your exact chart settings. You seem to be able to think for yourself and change up the strategy at a whim, which is good for you but not so good for the people who will continue along a failing path.
The key is 'to think for yourself.' Harold gave people a framework. It is now up to them to mould it to suit themselves. Expecting a black box to spew out profits is foolishness and, possibly, laziness.Yes, changing a strategy 'on a whim' to adjust to market conditions and/or one's personal trading psychology is part of trading and personal growth.
every Saint has a past. Every Sinner has a Future
  • #12,798
  • Apr 6, 2020 1:57pm Apr 6, 2020 1:57pm
Quoting goma
{quote} a little background reading/homework, "law of the charts" and a book by trader Vic, "methods of a wall street master" will help. regards goma
'Trader Vic' great book
every Saint has a past. Every Sinner has a Future
  • #12,799
  • Apr 6, 2020 9:04pm Apr 6, 2020 9:04pm
Quoting Noeyedear
Respect to H and the rest of you that can trade 20sec NQ consistently - i've been trying to emulate over the last 18 months or so but i haven't been able to make it work so far. The whole process did, however, steer me to profitability with 123s as the key ingredient. During these times and the fact that i'm UK based, FTSE has been a tamer animal than NQ and not using futures right now - when/if conditions normalise i'll probably trade NQ again with this approach. Daily chart on left for levels of interest; 5min for entry/exit, i look for 123s to...
Yeah, each must do the work and fully convince his own heart/mind that it works.
I found volume profile easier to read on ES than NQ. So i like the volume ledges in confluence with the price action.

Whatever works, I applaud success

Jason
  • #12,800
  • Apr 7, 2020 3:42am Apr 7, 2020 3:42am
Quoting goma
{quote} agreed. I have been sim trading the nq (and recently watching es, thanks for the heads up B) and have experienced slippage on sim trading. my new broker (switched to amp mid Jan) lowered day trading margins last night. over night margins are still doubled, but I never hold a position that long. I might try a few live micro trades if the vix drops to more reasonable levels. god luck regards goma
What do you think of AMP ?
I am looking at them cos they have one or two platforms that run on Imac without the parallels etc requirement to run windows on iMac.
Cannot use Europe AMP -they have no charts for iMac ( without using parallels or boot camp etc) and their web based MT5 is dreadful.
I am UK based.
every Saint has a past. Every Sinner has a Future
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