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Trading is as simple as 1-2-3

  • #10,381
  • Nov 18, 2020 8:12pm Nov 18, 2020 8:12pm
Quoting kin78
{quote} Thanks for the tip - still working on improving. Still on Demo.
Follow the rules.

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #10,382
  • Nov 19, 2020 2:58am Nov 19, 2020 2:58am
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Long CF +5 locked
  • #10,383
  • Nov 19, 2020 8:18pm Nov 19, 2020 8:18pm
I know most here don't trade Asia, but here are 2 examples of the challenges there:

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This one had room to pull back but didn't, just ran away.

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This closed at the high and with a 1 pip SL just reversed immediately. Hard for me to trade these. And the ones that do give a decent pullback most often seem to reverse right away and stop me out. Any advice?
  • #10,384
  • Nov 20, 2020 4:28am Nov 20, 2020 4:28am
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Long CF +5 locked
  • #10,385
  • Nov 20, 2020 12:36pm Nov 20, 2020 12:36pm
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Is this a valid sell setup?
  • #10,386
  • Nov 20, 2020 2:37pm Nov 20, 2020 2:37pm
Quoting samsha786
{image} Is this a valid sell setup?
Completely impossible to tell from that. That could be anything. Is it a new High? Is it even the H1 chart - I assume at least that. If that last candle on the right is a new High, then it could possibly be a set up forming but you'd need to wait for the next candle to form to be sure.

The numbers you have added are nothing to do with 1-2-3.
  • #10,387
  • Nov 20, 2020 3:06pm Nov 20, 2020 3:06pm
Quoting lemercenaire
{quote} Completely impossible to tell from that. That could be anything. Is it a new High? Is it even the H1 chart - I assume at least that. If that last candle on the right is a new High, then it could possibly be a set up forming but you'd need to wait for the next candle to form to be sure. The numbers you have added are nothing to do with 1-2-3.
2 = New Daily High.
3 = Short @ H1 Open, however this also ended becoming the daily high.

This is EURUSD on H1 chart.

I put the numbers there so it's easier for me to see and someone to help me understand.
  • #10,388
  • Nov 20, 2020 3:59pm Nov 20, 2020 3:59pm
Quoting samsha786
{quote} 2 = New Daily High. 3 = Short @ H1 Open, however this also ended becoming the daily high. This is EURUSD on H1 chart. I put the numbers there so it's easier for me to see and someone to help me understand.
Now, that's easier to understand. Lead with that the next time.

Anyway, if your #2 is a New High, then yes, you would have a possible entry on your next candle. The fact that it went on to become a new high is just trading. It would depend where you had your stop whether or not you would have been into a loss.

From this then, the candle you have marked as #3 is now your new high, so you will wait for the next candle to open and off you go again.

Adding numbers #1 #2 and #3 will do nothing but confuse you as the method is named 1-2-3, so perhaps A, B and C would be better for you to help you understand.

For the record...once more...here is 1-2-3...

For Shorts:

1: Did your H1 candle make a New High?

If so, then...

2: Did the next candle fail to make a new high?

If so, then...

3: Enter as price crosses back down over the Open of the candle that failed to make a New High.

1-2-3

Flip for Longs.
  • #10,389
  • Nov 20, 2020 11:48pm Nov 20, 2020 11:48pm
Quoting lemercenaire
{quote} Now, that's easier to understand. Lead with that the next time. Anyway, if your #2 is a New High, then yes, you would have a possible entry on your next candle. The fact that it went on to become a new high is just trading. It would depend where you had your stop whether or not you would have been into a loss. From this then, the candle you have marked as #3 is now your new high, so you will wait for the next candle to open and off you go again. Adding numbers #1 #2 and #3 will do nothing but confuse you as the method is named 1-2-3, so...
Thank you for clarifying.

If I look at the EURUSD charts for yesterday, there are about 10 trading opportunities. Many of them are losers. Is there any other rules that one could apply to filter out some of those trades? Also, instead of a hard TP of 10 pips - what other exit strategy could be applied to let the winners run?

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  • #10,390
  • Nov 21, 2020 5:04am Nov 21, 2020 5:04am
Quoting samsha786
{quote} Thank you for clarifying. If I look at the EURUSD charts for yesterday, there are about 10 trading opportunities. Many of them are losers. Is there any other rules that one could apply to filter out some of those trades? Also, instead of a hard TP of 10 pips - what other exit strategy could be applied to let the winners run? {image}
base on my experience with 123, you should look for range only. plus doji candle. i only see 1 trading opportunity in eurusd 1h chart. Hoping this can you help you out.
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  • #10,391
  • Nov 21, 2020 5:23am Nov 21, 2020 5:23am
Quoting samsha786
{quote} Thank you for clarifying. If I look at the EURUSD charts for yesterday, there are about 10 trading opportunities. Many of them are losers. Is there any other rules that one could apply to filter out some of those trades? Also, instead of a hard TP of 10 pips - what other exit strategy could be applied to let the winners run? {image}
Hi samsha,

Welcome

As always, hope I am not stepping on anyones toes.

Where do you u see 10 trading opportunities?
I see 5 trading opportunities. Two shorts, of which one a small loser of about 2-3 pips and of which one a winner which would have given you 25 pips if you got out at the next opposing signal. Three longs, of which one a small loser of about 4 pips again, one winner or BE depending on how you managed it, and one breakeven. So you could have netted a few pips. Of course, this is hindsight and a should a coulda woulda scenario.

You could say there were a few more short at the beginning of the day, but for me personally the retracements to the previous high were too small (below 0.5pips), not to mention the time of day (sleepy time for me).

I think those are very good questions to ask yourself, but for now as TS repeatedly says, I would suggest to stick to the basics. If you can't help yourself, other strategies have been discussed earlier in this thread.

Hope this helps

W
  • #10,392
  • Nov 21, 2020 7:03am Nov 21, 2020 7:03am
Quoting Wizzlebizzle
{quote} Hi samsha, Welcome As always, hope I am not stepping on anyones toes. Where do you u see 10 trading opportunities? I see 5 trading opportunities. Two shorts, of which one a small loser of about 2-3 pips and of which one a winner which would have given you 25 pips if you got out at the next opposing signal. Three longs, of which one a small loser of about 4 pips again, one winner or BE depending on how you managed it, and one breakeven. So you could have netted a few pips. Of course, this is hindsight and a should a coulda woulda...
Thanks for your response. I see the following candles as trading opportunities (provided I have understood the rules correctly), based on their previous candle making a new daily high or new daily low:

  1. 2020.11.20 01:00-01:59 buy
  2. 2020.11.20 02:00-02:59 buy
  3. 2020.11.20 04:00-04:59 sell
  4. 2020.11.20 06:00-06:59 sell
  5. 2020.11.20 07:00-07:59 sell
  6. 2020.11.20 08:00-08:59 sell
  7. 2020.11.20 12:00-12:59 buy
  8. 2020.11.20 13:00-13:59 buy
  9. 2020.11.20 18:00-18:59 buy
  10. 2020.11.20 21:00-21:59 buy

I look forward to your thoughts.

  • #10,393
  • Nov 21, 2020 7:45am Nov 21, 2020 7:45am
Quoting samsha786
{quote} Thanks for your response. I see the following candles as trading opportunities (provided I have understood the rules correctly), based on their previous candle making a new daily high or new daily low: 2020.11.20 01:00-01:59 buy 2020.11.20 02:00-02:59 buy 2020.11.20 04:00-04:59 sell 2020.11.20 06:00-06:59 sell 2020.11.20 07:00-07:59 sell 2020.11.20 08:00-08:59 sell 2020.11.20 12:00-12:59 buy 2020.11.20 13:00-13:59 buy 2020.11.20 18:00-18:59 buy 2020.11.20 21:00-21:59 buy I look forward to your thoughts.
The others have covered pretty much what I was going to say. I'm not going to drag my way through your chart pointing out this, that and the other.

Run the method on demo and post each individual trade - using a bar chart and the indicator and we can talk through each trade or non-trade.

Trading within the first two or three hours is brain dead and obvious. There is no quality information to work with. UK or US session will give best quality.

Not every pair is suitable. Again, do your own legwork. Pairs that love to trend are always going to burn you.

Oh and where does it say anything about a fixed 10 pip tp?

Most, if not all, of us here using 1-2-3 successfully will look to lock in around +5 and then use our own personal trade management techniques to run the move after that, whether it is a percentage left open, re-entering on any revisit of level, or countering any negative back across our entry.

ALL of this has been gone over ad infinitum through the life of the thread.
  • #10,394
  • Nov 21, 2020 9:55am Nov 21, 2020 9:55am
Quoting lemercenaire
{quote} The others have covered pretty much what I was going to say. I'm not going to drag my way through your chart pointing out this, that and the other. Run the method on demo and post each individual trade - using a bar chart and the indicator and we can talk through each trade or non-trade. Trading within the first two or three hours is brain dead and obvious. There is no quality information to work with. UK or US session will give best quality. Not every pair is suitable. Again, do your own legwork. Pairs that love to trend are always going...
haha you sound like my teacher, but your explanations are easy to understand. Trading are legworks, it took me 15yrs to be successful trader. spend a lot of money buying book, time, learning from workshop. Learning from other successful traders. if i have 2nd chance i wont get into all this.
10pips per trade, it can be done with TooSlow's method
  • #10,395
  • Nov 21, 2020 1:17pm Nov 21, 2020 1:17pm
Quoting havenoidea
...it can be done with TooSlow's method
It is not my method. The method comes from ADVANCED ALIEN CIVILIZATION TECHNOLOGY.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #10,396
  • Nov 22, 2020 8:14pm Nov 22, 2020 8:14pm
10 trades challenge, using 123 method. let see
Short Eurcad
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  • #10,397
  • Nov 23, 2020 2:06am Nov 23, 2020 2:06am
Quoting havenoidea
10 trades challenge, using 123 method. let see Short Eurcad {image}
i was enter late with usdcad but both trades are good trading
eurcad +12 pips still gaining if it is still open
usdcad +2 pips still gaining if it is still open
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  • #10,398
  • Nov 23, 2020 11:55am Nov 23, 2020 11:55am
GBPUSD
Bought
SL to BE

atb
vvm
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PA Trading with EMAs & common Sense
  • #10,399
  • Edited 6:59am Nov 24, 2020 3:42am | Edited 6:59am
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Long EG +5 locked flirted with getting stopped on this on 3 below the low but hung in there +22
  • #10,400
  • Nov 24, 2020 7:07pm Nov 24, 2020 7:07pm
Long Gbpusd
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