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Trading is as simple as 1-2-3

  • #11,701
  • Nov 16, 2024 4:02am Nov 16, 2024 4:02am
Quoting TooSlow
If this is your first time viewing my journal, please say "HI", don't be shy.
hi! Hi! I like your method... Rereading the thread. Thank you for sharing your experience
  • #11,702
  • Nov 16, 2024 5:37am Nov 16, 2024 5:37am
Quoting TooSlow
I notice members stop by to view. Please feel free to post questions, comments or just say "Hi".
Quoting TooSlow
I notice that members come in to watch. Please feel free to ask questions, comment, or just say "Hi".
Hi ... How do you use the currency strength indicator in your method? When we buy a weak currency, we try to close the deal faster?
  • #11,703
  • Nov 17, 2024 12:37pm Nov 17, 2024 12:37pm
Quoting TooSlow
{image} Having the statistics on what hour usually produces the daily high and daily low gives a slight edge. Cheers! NOTE: That indicator is from #advancedalientrading
I am just seeing it that you have already posted it that the indicator is from #advancedalientrading
#advancedalientrading, thank you so much.
  • #11,704
  • Nov 17, 2024 7:30pm Nov 17, 2024 7:30pm
Quoting Pasha7777
{quote} {quote} Hi ... How do you use the currency strength indicator in your method? When we buy a weak currency, we try to close the deal faster?
The currency meter gives an indication which way to trade. If your trade goes against the meter, it may be wise to close the deal faster. But, what price is doing is more important.

Cheers, Mate.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #11,705
  • Nov 18, 2024 11:20am Nov 18, 2024 11:20am
So its my first attempt at this today...any criticism of what i did right or wrong is welcome. Thank you
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  • #11,706
  • Nov 18, 2024 11:45am Nov 18, 2024 11:45am
Quoting Redbaron81
So its my first attempt at this today...any criticism of what i did right or wrong is welcome. Thank you {image}
Did you follow the rules?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #11,707
  • Nov 18, 2024 1:07pm Nov 18, 2024 1:07pm
Quoting TooSlow
{quote} Did you follow the rules?
1) Yes

2)This is where I’m a bit confused: what exactly do you mean by "tested the high"? Does "testing" mean the price came within a few pips of the high but failed to break it and retraced back to the current candle’s open? Or does it mean the price formed a double top or even broke the high by a few pips before coming back down to the current candle’s open?

If the current candle (candle 0) must not make a new high before retracing back to its own open, then my trade would be completely invalid, and all it would indicate is the formation of a new daily high (DH).

3) Yes

Thank you for the quick reply. I apologize if I'm asking stupid questions.
  • #11,708
  • Nov 18, 2024 4:32pm Nov 18, 2024 4:32pm
Quoting Redbaron81
{quote} 1) Yes 2)This is where I’m a bit confused: what exactly do you mean by "tested the high"? Does "testing" mean the price came within a few pips of the high but failed to break it and retraced back to the current candle’s open? Or does it mean the price formed a double top or even broke the high by a few pips before coming back down to the current candle’s open? If the current candle (candle 0) must not make a new high before retracing back to its own open, then my trade would be completely invalid, and all it would indicate is the formation...
Mate, the only stupid question is the one that is not asked.

Testing means getting close without making a new high or low.

Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #11,709
  • Nov 19, 2024 9:03am Nov 19, 2024 9:03am
5+ pips. Its early days but looks good for the way I like to scalp. 5-10pips and I'm out.

What would be a wait and see scenario when it comes to 1H candles making HH and HL and vice versa? 3 or more candles in a row would be a no entry right?
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  • #11,710
  • Nov 20, 2024 2:04pm Nov 20, 2024 2:04pm
Quoting Redbaron81
5+ pips. Its early days but looks good for the way I like to scalp. 5-10pips and I'm out. What would be a wait and see scenario when it comes to 1H candles making HH and HL and vice versa? 3 or more candles in a row would be a no entry right? {image}
Sorry, I don’t understand the question. The rules as presented are clear as I see them
  • #11,711
  • Nov 27, 2024 6:29am Nov 27, 2024 6:29am
Thanks for sharing your insights with us. I have question regarding rule 2) If we made a new Daily high on the recent bar we expect the current bar to test the HIGH of the recent daily bar for rule 2 to being valid, so we dont care about the low in this case.
But if we made a recent new daily low we are about a test of the low of the candle then instead?

Can you briefly explain how a proper test of the New daily high / low candle looks? In example of a new daily high. Is price going in the direction of the wick enough of must it test almost to the tick the last high?
Example attached of not going all the way to the high.
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  • #11,712
  • Dec 2, 2024 2:23am Dec 2, 2024 2:23am
Quoting DwnUndrTrdr
{quote} Great work Tantra! It is a great parter to HOLO and 1-2-3 gives you a good feel after rinse and repeating the process. The trick with passing those trailing drawdown prop’s like APEX is to keep taking profits, as you know doubt now. Can I ask how many contracts relative to account size you used on your evaluation and live account? Cheers
Thanks! For 25K the order limit is 4 - at first I used 1-2. then when I passed 1K profit I allowed myself to use 3 and very rarely 4. of course the first profit is 5 pips. Sometimes it happened to hit 20 pips during news, but I have not exceeded 30% profit condition in 1 day. Now I pass 100K. Just follow the strategy at 100% and test for 10 trades with 0.01
  • #11,713
  • Dec 2, 2024 3:19am Dec 2, 2024 3:19am
Quoting tantra
{quote} Thanks! For 25K the order limit is 4 - at first I used 1-2. then when I passed 1K profit I allowed myself to use 3 and very rarely 4. of course the first profit is 5 pips. Sometimes it happened to hit 20 pips during news, but I have not exceeded 30% profit condition in 1 day. Now I pass 100K. Just follow the strategy at 100% and test for 10 trades with 0.01
Appreciate the feedback Tantra. Congratulations and keep going!
  • #11,714
  • Dec 8, 2024 11:03am Dec 8, 2024 11:03am
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The method still holds up. It is incumbent on the trader to make it work.

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #11,715
  • Dec 8, 2024 11:37pm Dec 8, 2024 11:37pm
It certainly does still hold TS.
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Candle A Daily High.
Next candle Highest H1 open.
I could have gotten on at B but wasn't at the screen.
Candle C DIDN'T make a new High, so was valid.
I took 50% off at +5 and moved my stop in.
A further 2% at +7 (candle D) and moved my stop in.
Applied a trailing stop for the remaining 30% which was stopped out on Candle E.
Nice result. Happy days. Thanks again for this TS.
  • #11,716
  • Dec 9, 2024 6:00am Dec 9, 2024 6:00am
EU + 5
got same on GU +5

and another account +5
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  • #11,717
  • Dec 9, 2024 9:39am Dec 9, 2024 9:39am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #11,718
  • Dec 9, 2024 10:02am Dec 9, 2024 10:02am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #11,719
  • Dec 9, 2024 3:41pm Dec 9, 2024 3:41pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #11,720
  • Dec 10, 2024 7:58am Dec 10, 2024 7:58am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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