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Trading is as simple as 1-2-3

  • #10,061
  • Jun 16, 2020 11:34am Jun 16, 2020 11:34am
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+9
  • #10,062
  • Jun 16, 2020 5:06pm Jun 16, 2020 5:06pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #10,063
  • Jun 17, 2020 12:48am Jun 17, 2020 12:48am
yesterdays trade with GU big bar good for +6
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trading is like dancing, don't think and just listen to the music!
  • #10,064
  • Jun 17, 2020 3:26am Jun 17, 2020 3:26am
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Short EG +5 locked
  • #10,065
  • Jun 17, 2020 4:28am Jun 17, 2020 4:28am
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+12
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+6
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+5
  • #10,066
  • Jun 17, 2020 3:42pm Jun 17, 2020 3:42pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #10,067
  • Jun 18, 2020 2:25am Jun 18, 2020 2:25am
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Long CA +5 Locked
  • #10,068
  • Jun 18, 2020 3:16am Jun 18, 2020 3:16am
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+5
  • #10,069
  • Jun 18, 2020 6:10am Jun 18, 2020 6:10am
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  • #10,070
  • Jun 18, 2020 7:08am Jun 18, 2020 7:08am
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  • #10,071
  • Jun 19, 2020 2:45am Jun 19, 2020 2:45am
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  • #10,072
  • Jun 19, 2020 2:59am Jun 19, 2020 2:59am
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Long JY +5 locked
  • #10,073
  • Jun 19, 2020 4:47am Jun 19, 2020 4:47am
EG buy +4
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  • #10,074
  • Jun 19, 2020 4:48am Jun 19, 2020 4:48am
Quoting hal7
{image} Long JY +5 locked
Hal7, How did it get in here? I don't have any low open test.
  • #10,075
  • Jun 19, 2020 4:55am Jun 19, 2020 4:55am
Quoting tantra
{quote} Hal7, How did it get in here? I don't have any low open test.
Two things, I am very liberal in applying the rules. Red arrow low, It tested it .1 pips. And I also got in later as I saw a consistent move.
  • #10,076
  • Jun 19, 2020 5:10am Jun 19, 2020 5:10am
Quoting hal7
{quote} Two things, I am very liberal in applying the rules. Red arrow low, It tested it .1 pips. And I also got in later as I saw a consistent move.
I like for now 1-2-3 + HOLO rules N.3 with 5 min bar . THX !
  • #10,077
  • Jun 19, 2020 5:34am Jun 19, 2020 5:34am
AU sell +3
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  • #10,078
  • Edited Jun 20, 2020 5:22am Jun 19, 2020 9:30pm | Edited Jun 20, 2020 5:22am
Hello everyone

How do you place your SL in order to take 5 pips profit like Hal7, tantra, and other people?
I normally place an SL at the wick of the last bar which costs me around 20-25 pip. So, If I take 5 pips profit I might lose 5 previous win's profit in a single losing trade.
  • #10,079
  • Jun 20, 2020 5:29am Jun 20, 2020 5:29am
Hi Naruponk,

Hope I am not speaking out of turn here. I have been trading this strategy with decent succes over the course of this year and have a lot of manually backtested data from previous years on different pairs to confirm it works in the longterm aswell.

As you read the thread you will see that different people will use different money management styles.

From how I understand the original description is to place a stop loss under the lowest low or above the highest high . When the stop becomes of a reasonable size, like 25 pips as you mention, TooSlow has said several times before to reduce your position size.

As far as taking profit goes. I don't believe he says exit the trade at 5 pips all together. He says to move your stop to breakeven + 1 pip once the position reaches 5 pips profit. What you do after that is up to you (again, as far as I understand it).

Hope this helps.

W
  • #10,080
  • Jun 20, 2020 8:50am Jun 20, 2020 8:50am
Quoting Wizzlebizzle
Hi Naruponk, Hope I am not speaking out of turn here. I have been trading this strategy with decent succes over the course of this year and have a lot of manually backtested data from previous years on different pairs to confirm it works in the longterm aswell. As you read the thread you will see that different people will use different money management styles. From how I understand the original description is to place a stop loss under the lowest low or above the highest high . When the stop becomes of a reasonable size, like 25 pips as you mention,...
You have learned the lessons well. Great reply. CHEERS!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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