Trading is as simple as 1-2-3

Quoting Lawnman

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"A fool and his money soon part." I'm only posting this as an example of what not to do. Neither of these are proper 1-2-3s and they both lost. First trade pre London open, long GJ taken at the HOLO line, -20 Second trade same bar long, -20 Impatience and revenge, not good. {image} {image}

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Quoting lemercenaire

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{quote} Bank Holiday in Japan and Thanksgiving week in USA. Not the best conditions.

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Quoting hal7

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{image}Short GJ +5 locked same bar trade, or maybe getting your ducks in a row +40

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Quoting TooSlow

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{image} I repeat this so new comers don't have to go back to the first post. A bar makes a NEW DAILY high and closes. Next bar fails to make a higher high and reverses. Sell when price drops below the open price of the current bar. A bar makes a NEW DAILY low and closes. Next bar fails to make a lower low and reverses. Buy when price rises above the open price of the current bar. Let me rephrase in the form of yes/no or true/false questions. 1) Did a new daily high or new daily low happen during the previous bar. If YES/TRUE go to question 2, otherwise...

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Quoting igivaka

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{quote} Hi TooSlow! First, thank you for your system (rules) and great effort to help other traders. I read about first 1000 posts in your thread and think it is enough to understand the system and to ask a question(s). When you say "test the high (or low) of previous bar" do you have in mind specific level the price must reach (between open price of current bar and previous bar daily high (or low))? Or any movement toward previous bar daily high (or low) could be enough to be regarded as "testing previous bar daily high (or low)?...

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