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Trading is as simple as 1-2-3

  • #9,901
  • Edited 5:54am May 1, 2020 5:02am | Edited 5:54am
Short EG..waiting

Edit - 75% +5 and remainder stopped at BE

Attached Image


Well, I think that'll do me for what has been an interesting first week taking 5 trades today with some discretion (4 wins today)......from that perspective, I'm very pleased . From another perspective however, that one loss pretty much chewed up all the gains this morning.

Next week will tell just how informed my current level of 'discretion' is atm, and I've a few things to work on, for example my BE+1 stop setting was sloppy this week i.e. they all ended up being just BE or even a few pence negative. Entries are very accurate as I've set up a bot to handle that for any pair I decide to trade on any given hour.

So - will read some more of the thread over the weekend and see what a new week brings ...tnx again for past help given
  • #9,902
  • May 1, 2020 11:34am May 1, 2020 11:34am
Quoting stu
Short EG..waiting Edit - 75% +5 and remainder stopped at BE {image} Well, I think that'll do me for what has been an interesting first week taking 5 trades today with some discretion (4 wins today)......from that perspective, I'm very pleased . From another perspective however, that one loss pretty much chewed up all the gains this morning. Next week will tell just how informed my current level of 'discretion' is atm, and I've a few things to work on, for example my BE+1 stop setting was sloppy this week i.e. they all ended up being...
Stu -do you have a chart for that loss ?
How big was the loss to destroy previous profit ?
Did you have a stop in place?
Thanks in advance.
every Saint has a past. Every Sinner has a Future
  • #9,903
  • May 1, 2020 11:48am May 1, 2020 11:48am
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW1.png Size: 60 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,904
  • May 1, 2020 3:02pm May 1, 2020 3:02pm
Quoting turnip15
{quote} Stu -do you have a chart for that loss ? How big was the loss to destroy previous profit ? Did you have a stop in place? Thanks in advance.

Hi Turnip - tnx for response :-)

So, 4 wins of 0.03 lots @ 5 pips, 4 BE of 0.01 lots (a smidgen negative on these due to sloppy stop placement), so 20 pips @ 0.3 lots gain.

One loss of 2 positions - 1 x 0.03 and 1 x 0.01 lots @ 14.8 pips, so 15 pips @ 0.03 lots and 15 pips @ 0.01 lots loss. (My stops are exactly 3 pips off the end of the candle.)

Chart below with the 0.03 trade dropped on - it was by no means an outrageous stop size TBH. I've just got to the part in the thread where Hal is employing some reversing and I have to say that, setting aside whether or not the trade should have been taken, I'm seeing a need for either being highly discretionary with this overall, or employing a HalReversal (sequel to the HalSpecial!).

Attached Image
  • #9,905
  • May 1, 2020 4:14pm May 1, 2020 4:14pm
Quoting stu
{quote} Hi Turnip - tnx for response :-) So, 4 wins of 0.03 lots @ 5 pips, 4 BE of 0.01 lots (a smidgen negative on these due to sloppy stop placement), so 20 pips @ 0.3 lots gain. One loss of 2 positions - 1 x 0.03 and 1 x 0.01 lots @ 14.8 pips, so 15 pips @ 0.03 lots and 15 pips @ 0.01 lots loss. (My stops are exactly 3 pips off the end of the candle.) Chart below with the 0.03 trade dropped on - it was by no means an outrageous stop size TBH. I've just got to the part in the thread where Hal is employing some reversing and I have to say that,...
Running counter-trades is one way to manage your entries and is in fact how I do it, however we don't go into it here as it isn't part of TooSlow's method. You'll no doubt find mention of all of this as you make your way though the thread.
  • #9,906
  • May 1, 2020 11:08pm May 1, 2020 11:08pm
hi guys quick question. How do you enter a trade when it opens and quickly retraces downwards? lets a high was formed then the current candle opens and quickly retraces downwards. how do you even enter such a trade?
How can i loose when i started from the bottom!?
  • #9,907
  • May 2, 2020 2:40pm May 2, 2020 2:40pm
Quoting maharg94
hi guys quick question. How do you enter a trade when it opens and quickly retraces downwards? lets a high was formed then the current candle opens and quickly retraces downwards. how do you even enter such a trade?
Hi - I had this exact problem and, (aside from loosing ), it was the part that caused me the most frustration. I hacked a bot (CTrader) together to look for a move the width of the spread, and place pending orders if appropriate. I'm not a C# coder (and coding examples given by platform devs are quite weak) so it's ultra basic and not robust enough for live trading - it's purely to allow me to try to eliminate any entry variability so I can try to focus on what are, for now, more important aspects.

Though, from what I gather, the other regulars seem to freestyle it quite profitably.
  • #9,908
  • May 2, 2020 3:34pm May 2, 2020 3:34pm
Quoting lemercenaire
{quote} Running counter-trades is one way to manage your entries and is in fact how I do it, however we don't go into it here as it isn't part of TooSlow's method. You'll no doubt find mention of all of this as you make your way though the thread.
Thanks LM - yes I've now read about some of Hals more adventurous counter trades <gulp>....fair play to Hal for giving it a shot !!

Both reversing & hedging would be a whole new territory for me to consider, it's something I'd like to learn about at some point but if I jump there now then I think I'll have missed something in between.

I took a look back at the last 3 trades TS posted, and when I saw them on 1M I started to recall some old Lance Beggs docs that I'd read through several years ago - each of the 3 trades (providing I picked the right ones), in their own way, had a LOT going for them on 1M (see below). I'm guessing that what can be seen on 1M can also be gleaned from watching the movement on 1H for those that can intuitively translate the movement in their mind, but for those who haven't (ME!), perhaps consuming some 1M data for potential setups, seasoned with a sprinkling of Lance Beggs, is one way to start to develop that sense.....it's not really a question TBH - I'm just musing and thinking about the way forward.

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  • #9,909
  • May 2, 2020 3:42pm May 2, 2020 3:42pm
Quoting stu
{quote} Thanks LM - yes I've now read about some of Hals more adventurous counter trades <gulp>....fair play to Hal for giving it a shot !! Both reversing & hedging would be a whole new territory for me to consider, it's something I'd like to learn about at some point but if I jump there now then I think I'll have missed something in between. I took a look back at the last 3 trades TS posted, and when I saw them on 1M I started to recall some old Lance Beggs docs that I'd read through[/highlight]...
'Dunno who Lance Beggs is but fair enough. If you want to get into real detail about pure extreme counter trading, you should consider taking a side trip over to Billytt's thread, where counter trading is king.
  • #9,910
  • May 2, 2020 3:47pm May 2, 2020 3:47pm
Quoting lemercenaire
{quote} 'Dunno who Lance Beggs is but fair enough. If you want to get into real detail about pure extreme counter trading, you should consider taking a side trip over to Billytt's thread, where counter trading is king.
Thanks LM :-)

Lance Beggs & Your Trading Coach (YTC) were talked about on a few threads I had an interest in some time back - he put together training docs on PA and I only recall a few things from them.

Thanks for the steer on counters... :-)....I may just pop over there (for educational purposes only atm you understand ;-) )
  • #9,911
  • May 4, 2020 1:46am May 4, 2020 1:46am
GU buy +5 same bar
EJ buy +5 same bar
Attached Images
  • #9,912
  • May 4, 2020 2:20am May 4, 2020 2:20am
Quoting tantra
GU buy +5 same bar EJ buy +5 same bar {image} {image}

Hi Tantra, nice trades.

Just curious how/why u decided to get in, as those trades broke the low of the previous bar?

Wizzle
  • #9,913
  • Edited 5:47am May 4, 2020 2:59am | Edited 5:47am
Attached Image (click to enlarge)
Click to Enlarge Name: 5420eg.png Size: 18 KB

Long EG +5 locked +30
  • #9,914
  • May 4, 2020 7:43am May 4, 2020 7:43am
Quoting Wizzlebizzle
{quote} Hi Tantra, nice trades. Just curious how/why u decided to get in, as those trades broke the low of the previous bar? Wizzle
Previous bars make a fake entry.
GU 38min
EJ 28min
EJ the last 8 bars there is no break in their high
The EU also does not have a 1 hour high break for today... and little correlation
  • #9,915
  • May 4, 2020 8:29am May 4, 2020 8:29am
Quoting tantra
{quote} Previous bars make a fake entry. GU 38min EJ 28min EJ the last 8 bars there is no break in their high The EU also does not have a 1 hour high break for today... and little correlation

Have you found any statistical significance in the " fake entry" and no break og the high in the previous 8 bars ?
What do you mean by GU 38min and EJ 28min ?

Just trying to figure out your thought process, as im always interested in new light on a topic
  • #9,916
  • May 4, 2020 9:47am May 4, 2020 9:47am
Quoting Wizzlebizzle
{quote} Have you found any statistical significance in the " fake entry" and no break og the high in the previous 8 bars ? What do you mean by GU 38min and EJ 28min ? Just trying to figure out your thought process, as im always interested in new light on a topic
I have no statistics. This risk I think is good about capital management (4-5 pips), the next deal may cover a loss.
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  • #9,917
  • May 4, 2020 10:17am May 4, 2020 10:17am
Quoting tantra
{quote} I have no statistics. This risk I think is good about capital management (4-5 pips), the next deal may cover a loss. {image}
You are trading a 1-2-3 pattern (or an ''M/W'' set up) not a TooSlow 1-2-3 method trade.
  • #9,918
  • May 4, 2020 10:38am May 4, 2020 10:38am
Quoting lemercenaire
{quote} You are trading a 1-2-3 pattern (or an ''M/W'' set up) not a TooSlow 1-2-3 method trade.
Yes, I use 123 pattern in most cases and my place of entry is from the TS method .I'm fine with that.
  • #9,919
  • May 4, 2020 12:26pm May 4, 2020 12:26pm
Quoting tantra
{quote} Yes, I use 123 pattern in most cases and my place of entry is from the TS method .I'm fine with that.

Ah i see. That makes more sense. Cool
  • #9,920
  • May 5, 2020 3:16am May 5, 2020 3:16am
GBPUSD 1/2 +5 1/4 +8 1/4 +15
Attached Image (click to enlarge)
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