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Trading is as simple as 1-2-3

  • #9,821
  • Apr 22, 2020 1:50am Apr 22, 2020 1:50am
Quoting lemercenaire
{quote} Wait...wait...wait!!! Before you begin to go down the rabbit hole and confuse yourself even more when there is absolutely no need. Stop over thinking things. I have posted this many, many times here before and had said I wouldn't do so again - however, when I feel that a trader is missing it because of a language problem, then I am willing to post again. This method is called 1-2-3. It has 3 steps. You are looking at this: For Short Entries... H1 Chart 1: Did Candle #1 make a new High? If yes, wait...Then, 2: Did Candle #2 test the High...
dear lemercenaire... i am new comer of this method.i read and try to get more understanding about the system.also try with the demo also. very clear your above trading rules but dear most of the time my demo trades has loss.because mostly the 2nd candle has gone passing his open price and again it's gone back to the same direction and make the new high. so dear how can i avoid this situation. as a more experience person of this system, what is your guidance to correct this mistake. your valuable cooperation is highly appreciate on this regards.
  • #9,822
  • Apr 22, 2020 1:52am Apr 22, 2020 1:52am
Quoting Wizzlebizzle
GBPUSD +10 Or it should have been. The Tradingview trading seems to have a lot of faults. I missed out on two good trades today because the order buttons weren't working... Might have to switch back to MT4 {image}
I have to say that I agree with you on that. I tried TV for a while there when I was working alongside someone and needed those particular charts - but I didn't like them at all. Not very user-friendly or intuitive imo.
  • #9,823
  • Apr 22, 2020 2:00am Apr 22, 2020 2:00am
Quoting lemercenaire
{quote} I have to say that I agree with you on that. I tried TV for a while there when I was working alongside someone and needed those particular charts - but I didn't like them at all. Not very user-friendly or intuitive imo.

Glad you agree. Do you use MT4/5? I found they are a bit better, but I have to install a lot of third party scripts/ea's to be able to trade the way i want to trade. Ninja has been my favorite so far, but they are bit too expensive atm.
  • #9,824
  • Apr 22, 2020 2:11am Apr 22, 2020 2:11am
Speaking about entering trades. How do you guys normally enter the trade? (Market, limit or stop)

regards W
  • #9,825
  • Apr 22, 2020 2:19am Apr 22, 2020 2:19am
Quoting sam1967
{quote} dear lemercenaire... i am new comer of this method.i read and try to get more understanding about the system.also try with the demo also. very clear your above trading rules but dear most of the time my demo trades has loss.because mostly the 2nd candle has gone passing his open price and again it's gone back to the same direction and make the new high. so dear how can i avoid this situation. as a more experience person of this system, what is your guidance to correct this mistake. your valuable cooperation is highly appreciate on this regards....
Hi Sam.

It is an issue, no doubt. However, there are ways to get around it, or at least reduce the likelihood of it happening.

I should say, that to follow TooSlow's programme when learning is the way to do it, even if it is frustrating at times. Anything you may use later to manage your trades should be once you are completely comfortable with the method, losses or not.

Ok, so with that caveat out of the way, there are ways, as I said, to help you.

You can look to use the same pair or pair combinations that you see the successful traders such as TooSlow and Hal use themselves. These choices are not random.

No random choice because they have learned which pairs suit 1-2-3 particularly well - TooSlow specialises in UJ for instance. That suits him being based in the US especially.

Once you have found these pairs, ignore completely any others. Avoid all distractions. Trying to run around and catch every set up is nonsense and all you will end up doing is missing every entry, or the one(s) you do get in on will inevitably be the loser on the day.

Learn that pair. Watch how it reacts through the day. What levels does it respect. Honestly, the markets just do the same old stuff, day-after-day-after-day, repeating the same patterns of behaviour through the day and week. Once you begin to learn these behaviours, you will be able to recognise when something unusual is happening, or when it is best to ignore what seems like good set ups.

There is no substitute for legwork.

Back on a practical level, one of the things you can do is to always keep in mind what price is doing in relation to the bigger picture. What is Price-Action doing up on the H4, for instance?

Or, are you sitting at a significant level?

One of the most basic mistakes learners make is to try and trade a market that isn't even open - then wonder why price behaves strangely.

Finally, there are sophisticated trade-management techniques that can be used, counter-trading for instance but this is waaaaayyyyy beyond the scope of this thread - and not even an option available to many traders - and I will not be going into that here.

Hope this has been of some help.

Stick with it and you'll get there. 1-2-3 and its cousin HOLO are brilliant methods.
  • #9,826
  • Apr 22, 2020 2:24am Apr 22, 2020 2:24am
Quoting Wizzlebizzle
{quote} Glad you agree. Do you use MT4/5? I found they are a bit better, but I have to install a lot of third party scripts/ea's to be able to trade the way i want to trade. Ninja has been my favorite so far, but they are bit too expensive atm.
I use mt4 to chart, as any indicators I use will inevitably be tailored towards that.

I also use C-Trader.
  • #9,827
  • Apr 22, 2020 2:24am Apr 22, 2020 2:24am
Quoting Wizzlebizzle
Speaking about entering trades. How do you guys normally enter the trade? (Market, limit or stop) regards W
Market. Always.
  • #9,828
  • Apr 22, 2020 2:29am Apr 22, 2020 2:29am
Awesome, thanks again Lem. I will keep posting here in the mean time
  • #9,829
  • Apr 22, 2020 2:33am Apr 22, 2020 2:33am
Quoting lemercenaire
{quote} Hi Sam. It is an issue, no doubt. However, there are ways to get around it, or at least reduce the likelihood of it happening. I should say, that to follow TooSlow's programme when learning is the way to do it, even if it is frustrating at times. Anything you may use later to manage your trades should be once you are completely comfortable with the method, losses or not. Ok, so with that caveat out of the way, there are ways, as I said, to help you. You can look to use the same pair or pair combinations that you see the successful traders...

dear thanks a lot for your detail reply. i will do strictly trade one pair. also dear why are you telling HOLO is brilliant method?
  • #9,830
  • Apr 22, 2020 2:50am Apr 22, 2020 2:50am
Quoting sam1967
{quote} dear thanks a lot for your detail reply. i will do strictly trade one pair. also dear why are you telling HOLO is brilliant method?
Because it is!

Dead easy, simple rules and both it and 1-2-3 feed off each other.
  • #9,831
  • Apr 22, 2020 2:52am Apr 22, 2020 2:52am
Quoting sam1967
{quote} dear thanks a lot for your detail reply. i will do strictly trade one pair. also dear why are you telling HOLO is brilliant method?
What I would say, however, is that while learning, pick one or the other, as running both can get a new trader confused in the heat of battle
  • #9,832
  • Apr 22, 2020 3:00am Apr 22, 2020 3:00am
Quoting lemercenaire
{quote} What I would say, however, is that while learning, pick one or the other, as running both can get a new trader confused in the heat of battle
ok thanks dear when you free pls.tell me the HOLO method....
  • #9,833
  • Apr 22, 2020 3:32am Apr 22, 2020 3:32am
Quoting sam1967
{quote} ok thanks dear when you free pls.tell me the HOLO method....
https://www.forexfactory.com/showthread.php?t=590623

Seriously though, for now, I would stick to 1-2-3.
  • #9,834
  • Apr 22, 2020 10:09am Apr 22, 2020 10:09am
Quoting lemercenaire
{quote} https://www.forexfactory.com/showthread.php?t=590623 Seriously though, for now, I would stick to 1-2-3.

ok thanks dear for your valuable cooperation on this regards ,i will try little by little develop my trading knowledge about this method . i will very much appreciate your comments in future also...
  • #9,835
  • Apr 22, 2020 10:26am Apr 22, 2020 10:26am
Quoting sam1967
{quote} ok thanks dear for your valuable cooperation on this regards ,i will try little by little develop my trading knowledge about this method . i will very much appreciate your comments in future also...
Take your time, learn your craft. The markets will always be there.
  • #9,836
  • Apr 22, 2020 4:32pm Apr 22, 2020 4:32pm
Quoting lemercenaire
{quote} https://www.forexfactory.com/showthread.php?t=590623 Seriously though, for now, I would stick to 1-2-3.
A 1-2-3 is sometimes a HOLO.

A HOLO is sometimes a 1-2-3.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,837
  • Apr 22, 2020 9:08pm Apr 22, 2020 9:08pm
Quoting TooSlow
{quote} A 1-2-3 is sometimes a HOLO. A HOLO is sometimes a 1-2-3.

Need advice TooSlow, if Current Price break Yesterday Higher/Lower, we avoid to trade in this pair??
  • #9,838
  • Apr 23, 2020 12:23am Apr 23, 2020 12:23am
Attached Image (click to enlarge)
Click to Enlarge Name: 42320nz.png Size: 20 KB

Short NZ +5 locked
  • #9,839
  • Apr 23, 2020 12:31am Apr 23, 2020 12:31am
Quoting hal7
{image} Short NZ +5 locked
Hi Hal7, how many pairs do you follow ?
is manual or with an EA ?
Thanks.
  • #9,840
  • Apr 23, 2020 1:21am Apr 23, 2020 1:21am
GBPUSD +5 and +10
Attached Image (click to enlarge)
Click to Enlarge Name: GU 230420.png Size: 36 KB


I am using a slightly altered version of trade management. Instead of moving to BE+1 after reaching 5 points. I close half my position at 5 points and move my stoploss to -4 below my entry. I let the other half of the position on for a higher target
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