Trading is as simple as 1-2-3 | Page 516 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

SIMPLE EA for a simple method needed!! 2 replies

Trading Made Simple the right way, and other trading lessons 334 replies

Trading is this Simple? Finally Explained simple and clearly! 46 replies

trading is simple - trading is easy 43 replies

Simple trading method 49 replies

Attachments: Trading is as simple as 1-2-3
Exit Attachments

Trading is as simple as 1-2-3

  • #10,301
  • Oct 7, 2020 10:20am Oct 7, 2020 10:20am
Short Audnzd
Osmanxx follow the arrow, and click on the candle symbol, it will change the bar graphic to Candle
Attached Image (click to enlarge)
Click to Enlarge Name: 1111.png Size: 64 KB
  • #10,302
  • Oct 7, 2020 12:05pm Oct 7, 2020 12:05pm
Quoting havenoidea
Short Audnzd Osmanxx follow the arrow, and click on the candle symbol, it will change the bar graphic to Candle {image}
Thanks but i don't think rules meet at this pic... And now losing. Hal7 send always win setup, interesting.
  • #10,303
  • Oct 7, 2020 12:12pm Oct 7, 2020 12:12pm
Quoting osmanxx
{quote} Thanks but i don't think rules meet at this pic... And now losing. Hal7 send always win setup, interesting.
my trades it is not follow the rule
  • #10,304
  • Oct 7, 2020 12:36pm Oct 7, 2020 12:36pm
Quoting havenoidea
Short Audnzd Osmanxx follow the arrow, and click on the candle symbol, it will change the bar graphic to Candle {image}
i took a loss
  • #10,305
  • Oct 8, 2020 3:00am Oct 8, 2020 3:00am
Attached Image (click to enlarge)
Click to Enlarge Name: 10820cf.png Size: 18 KB
Long CF +5 locked
  • #10,306
  • Oct 9, 2020 8:12am Oct 9, 2020 8:12am
this looks like a good trading system, but i will love it move if it was in candle and no indicator
  • #10,307
  • Oct 9, 2020 8:26am Oct 9, 2020 8:26am
Interesting strategy came across recently!

This trading concept is really useful! On higher Time Frame this is very good strategy for EA (Yea I know EAs not welcomed in this thread #1 hah!)

But there is an issue...: Human or EAs never know if the current candle will create HH/LL AFTER trade entered... So rule #2 seems impossible to confirm!
What is the strategy in setting up SL/TP you guys using? I just randomly picked an aggressive approach but not really ideal... Especially I found a lot of the times the Entries are actually the Sniper-trades.

Below are some backtest (Hard SL/TP no management; high spread taken account into) result on H4 timeframe to share. Enjoy!

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 136 KB
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 139 KB
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot3.png Size: 156 KB
  • #10,308
  • Oct 9, 2020 9:46am Oct 9, 2020 9:46am
Quoting hensino
this looks like a good trading system, but i will love it move if it was in candle and no indicator
So change it to candles! Use a line chart if you want!

If you had read the thread, you would realise that the reason those of us use bar charts for 1-2-3 is so we can easily identify the difference between this and HOLO, which a lot of us also trade alongside it. HOLO uses candles, 1-2-3 uses bars.
  • #10,309
  • Oct 9, 2020 10:02am Oct 9, 2020 10:02am
Quoting tommydoginti
Interesting strategy came across recently! This trading concept is really useful! On higher Time Frame this is very good strategy for EA (Yea I know EAs not welcomed in this thread #1 hah!) But there is an issue...: Human or EAs never know if the current candle will create HH/LL AFTER trade entered... So rule #2 seems impossible to confirm! What is the strategy in setting up SL/TP you guys using? I just randomly picked an aggressive approach but not really ideal... Especially I found a lot of the times the Entries are actually...
discretionary decisions, similar to dancing, making music or sex;-) its not a world for rule fanatics...
trading is like dancing, don't think and just listen to the music!
  • #10,310
  • Oct 11, 2020 2:16am Oct 11, 2020 2:16am
Hello hal7, my name is Hans and I want to ask you 2 questions:

1) Do you look for trades during a specific time when there is volume for e.g during the london session or do you sit in front of the charts all day looking for setups?

2) Do you take trades using closest support/ resistance as a confluence? The reason for this question is that non of us have a time machine and thus we don't really know if price made a daily high or low as price could just make a daily high/ low the next candle.

I would be so grateful to get your answers.
  • #10,311
  • Oct 11, 2020 5:00am Oct 11, 2020 5:00am
I never ever trust a thread that can't explain its steps in clear, concise English.
  • #10,312
  • Edited 4:10pm Oct 11, 2020 6:49am | Edited 4:10pm
Quoting tommydoginti
Human or EAs never know if the current candle will create HH/LL AFTER trade entered... So rule #2 seems impossible to confirm! {image}{image}{image}
"Confirmation" is not the issue.. it's the willingness to open a trade without it. This method is classic hands-on counter trend PA trading, and as such, you're always risking that price will just continue in the direction of the trend. The setup is very straight forward. Example of a sell trade: price has just printed a new low but then closes off the low (use a time frame of choice - but just remember, you want "enough" pip distance between the close of the previous bar and its low so that you're trading outside the short-term volatility and the spread). The very next bar you watch closely... if price moves towards the previous low, you immediately place a limit buy order at the close of the previous bar - and then you wait. Your order will be triggered only if price reverses to move above the previous bar's close. The SL is placed below the low of the previous bar; the TP is up to you, but remember that your trade could be caught up in a very-short term price reversal. That's it. This method works well even if price moves past the previous bar's low (i.e. makes a new low), but then quickly reverses bullish and moves above the previous bar's close to trigger a trade (classic bullish reversal bar). The idea is that price makes a new low (or high) then generally reverses off that low (or high)- so you're trying to capture the pips on the reversal. Counter-trend trading is not for the faint-hearted and you must be diligent about closing the trade immediately if price resumes the trend - or you'll be in a lot of hurt. I personally know several guys who trade this way (manually- and extremely disciplined) and earn a substantial income trading on the higher TFs (hourly to daily)- but it takes a lot of screen time if you're trading the shorter TF's, and you can't hesitate to open/close trades.

Best,

Dave
  • #10,313
  • Oct 11, 2020 7:39am Oct 11, 2020 7:39am
Quoting Skyside68
I never ever trust a thread that can't explain its steps in clear, concise English.
Well then you haven't read the thread, as you would know that I have broken down the whole method into three lines many, many times for others who didn't "get it".
  • #10,314
  • Oct 11, 2020 9:37pm Oct 11, 2020 9:37pm
Quoting TooSlow
{image} Lower lows and lower highs indicates price is moving down.
Hi TooSlow
I read the previous threads and I found your answers to things I asked in #10307. Yes indeed the assumption of "fail to make a HH/LL" is just an expectation and is part of trading.

i also saw posts of you showing losses due to a strong trend up/down and continuously making HH/LL and stopping out trades opened by the 123 rules. Do you have a set of rules or a general feeling (like seeing certain pattern before the setup) to avoid getting into the loss streak? Thanks!
  • #10,315
  • Oct 11, 2020 9:41pm Oct 11, 2020 9:41pm
Quoting LethalH97
Hello hal7, my name is Hans and I want to ask you 2 questions: 1) Do you look for trades during a specific time when there is volume for e.g during the london session or do you sit in front of the charts all day looking for setups? 2) Do you take trades using closest support/ resistance as a confluence? The reason for this question is that non of us have a time machine and thus we don't really know if price made a daily high or low as price could just make a daily high/ low the next candle. I would be so grateful to get your answers.
Read post #1. Read the rules on my charts. If it isn't in the rules, it isn't considered. Keep it simple, Mate. Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #10,316
  • Oct 11, 2020 9:42pm Oct 11, 2020 9:42pm
Quoting lemercenaire
{quote} So change it to candles! Use a line chart if you want! If you had read the thread, you would realise that the reason those of us use bar charts for 1-2-3 is so we can easily identify the difference between this and HOLO, which a lot of us also trade alongside it. HOLO uses candles, 1-2-3 uses bars.
Bars, candles, lines, etc... doesn't matter. The highest/lowest H1 open will still be the highest/lowest H1 open no matter what chart time or chart period.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #10,317
  • Oct 11, 2020 9:45pm Oct 11, 2020 9:45pm
Quoting davelansing
{quote} "Confirmation" is not the issue.. it's the willingness to open a trade without it. ..... Best, Dave
Thanks Dave! It is very clear explanation and I now understand much more about the idea behind this strategy. I do find this strategy has lower win rate with no additional entry filter but the winners are really big! (3-3.5R in backtest was very low compared with the actual trends played out.) I am new to Forex and my first strategy is a trend-following one, so yea seeing a long loss streak was frightening. But after backtesting I see this is a profitable strategy and will put it to forward test in demo acc to learn more about its behavior
  • #10,318
  • Oct 11, 2020 10:28pm Oct 11, 2020 10:28pm
Quoting TooSlow
{quote} Read post #1. Read the rules on my charts. If it isn't in the rules, it isn't considered. Keep it simple, Mate. Cheers!
Thank you for your answer TooSlow. I am for sure going to give this method a go.
  • #10,319
  • Edited 12:37am Oct 12, 2020 12:24am | Edited 12:37am
Quoting Skyside68
I never ever trust a thread that can't explain its steps in clear, concise English.
arrogant and lazy people will never get it;-)
trading is like dancing, don't think and just listen to the music!
  • #10,320
  • Oct 12, 2020 1:38am Oct 12, 2020 1:38am
Quoting Skyside68
I never ever trust a thread that can't explain its steps in clear, concise English.
What makes you say that?
It has one of the clearest and most concise steps of any thread I have come across.
9 traders viewing now