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  • #3,741
  • Jul 21, 2008 8:31pm Jul 21, 2008 8:31pm
sorry i had to take the phone call it was my dad glad those that were there saw a live trade set up and also a winning one at that i cant be on every night because of home commitments wife has health issues so i have to do work around here but you pretty much know what i am doing if i come on it will be around 9-10 pm for those that werent there here was the setup
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  • #3,742
  • Jul 21, 2008 8:40pm Jul 21, 2008 8:40pm
Daisygirl,
Here is the trade that I took at the London open on 7/21 that we discussed in the trading room. I entered a couple of pips late, but it still worked out. I entered at the red vertical line and exited at the yellow vertical line. It was off of the 38.2 fib of Friday's range. Note: 1 and 3 are actually equal (double bottom)
Take care,
Dave
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  • #3,743
  • Jul 21, 2008 8:50pm Jul 21, 2008 8:50pm
nice trade dave good eye
  • #3,744
  • Jul 21, 2008 8:52pm Jul 21, 2008 8:52pm
Quoting harold4x
nice trade dave good eye
I have you to thank for opening up my eyes. Thanks again Harold. You are the man. I hope everything is going ok with your family.
Thanks, Dave
http://www.forexfactory.com/images/icons/icon7.gif
  • #3,745
  • Jul 21, 2008 9:01pm Jul 21, 2008 9:01pm
hey you still had to spot it and trade it so i called the play you still had to execute it
  • #3,746
  • Jul 21, 2008 9:15pm Jul 21, 2008 9:15pm
hey harold,i missed u guys in the trading room this morning,i will try again 2morrow,its good to have u back harold.

harold are you still waiting for pairs to retrace to 50% level on 15min charts b4 u look 4 the 1,2,3 setups??

cheers andrew
Survive & Preserve
  • #3,747
  • Jul 21, 2008 9:24pm Jul 21, 2008 9:24pm
Andrew,
From what I understand Harold is looking for any pullback before looking for a 1 2 3. It no longer has to be 50 percent. He is also looking mainly around 00:00 gmt. I hope this info is correct. Harold could give you the definitive answer. I hope this helps.
Cheers,
Dave
  • #3,748
  • Jul 21, 2008 9:28pm Jul 21, 2008 9:28pm
Quoting davema
Andrew,
From what I understand Harold is looking for any pullback before looking for a 1 2 3. It no longer has to be 50 percent. He is also looking mainly around 00:00 gmt. I hope this info is correct. Harold could give you the definitive answer. I hope this helps.
Cheers,
Dave

cheers dave i know he used to wait for a 50% ish retracement,lately the 1,2,3 have happened early,i just cant be in front of computer until usually 4-5gmt,but thats life
Survive & Preserve
  • #3,749
  • Jul 21, 2008 9:38pm Jul 21, 2008 9:38pm
hi andrew i usded to wait for 50% pillback but rethought it 123's usually happen at the end of a trend so i look for a trend going against daily trend( sometimes its a pullback type trend) and then just look for 123"s on 5 no more 15 minute it just symplifies things i start looking at 00 gmt but if you have to start later thats fine they show up plenty after 00 gmt
  • #3,750
  • Jul 21, 2008 9:45pm Jul 21, 2008 9:45pm
thanks harold,what chart do u look for the pullbacks on ,is it the 1hr.

andrew
Survive & Preserve
  • #3,751
  • Jul 21, 2008 10:48pm Jul 21, 2008 10:48pm
everything is on 5 minute charts
  • #3,752
  • Jul 21, 2008 10:55pm Jul 21, 2008 10:55pm
Quoting harold4x
sorry i had to take the phone call it was my dad glad those that were there saw a live trade set up and also a winning one at that i cant be on every night because of home commitments wife has health issues so i have to do work around here but you pretty much know what i am doing if i come on it will be around 9-10 pm for those that werent there here was the setup
Dear Harold,

What can we expect from 1,2 and 3 formation...??
Is it reversal or continuation?

http://www.forexfactory.com/attachme...1&d=1216690413

sonic
  • #3,753
  • Jul 22, 2008 1:55am Jul 22, 2008 1:55am
Sorry I left yesterday but thanks for the info. I will try and get into the trading room when I see you are there. I`m in Australia so tend to go to bed around midnight our time (2200gmt).
One more question though, cant remember what profit you go for. Was it a set amount each time?
  • #3,754
  • Jul 22, 2008 2:22am Jul 22, 2008 2:22am
Hensby,

Harold said his profit target is equal to the amount of pips risked on the trade, which is the distance between point 2 and point 3 plus a pip on each side plus the spread. I hope this is understandable.

Dave
  • #3,755
  • Jul 22, 2008 3:40am Jul 22, 2008 3:40am
[quote=davema;2120936]Hensby,

Harold said his profit target is equal to the amount of pips risked on the trade, which is the distance between point 2 and point 3 plus a pip on each side plus the spread. I hope this is understandable.

Dave[/quote

Thanks for that Dave.
  • #3,756
  • Edited 6:13am Jul 22, 2008 5:58am | Edited 6:13am
Harold,

Thank you for being so kind to not only share your system but followup with us in the chat room to make sure we understand just how easy this is to trade. Having constantly moved thru so many systems which I couldn't work with, I pray this is the one I can stick with. Since yesterday, I've begun live trading with 3 wins. Back testing there are mostly all wins so this stuff works.

Setup, entry, stop loss, take profit, money management, monthly equity growth projections..........its all here for us. Need look no further.....

Thank you again for your kind generosity,

Steve
  • #3,757
  • Jul 22, 2008 8:43am Jul 22, 2008 8:43am
i am glad you guys a beginning to make some money remember this is not holy grail because everyone defines holy grail as perfect system. to me though a holy grail is something that consistently makes money and takes losses into acct. heres some for you to think about that even if in the course of a month you have say 16 trades and you win 9 out of them thats a +2 in wins a month if you did that over the course of a year trading 3% of acct per trade your return would be 72% where else can you get such a return
  • #3,758
  • Jul 22, 2008 9:36am Jul 22, 2008 9:36am
Quoting davema
Daisygirl,
Here is the trade that I took at the London open on 7/21 that we discussed in the trading room. I entered a couple of pips late, but it still worked out. I entered at the red vertical line and exited at the yellow vertical line. It was off of the 38.2 fib of Friday's range. Note: 1 and 3 are actually equal (double bottom)
Take care,
Dave
That was a good call... I noticed the RSI was just on the 50% mark so good timing with everything. It was a low risk trade as the stop was not that far away too. I must remember that double bottoms/tops also count as a 1,2,3 setup.

regards
Daisygirl
  • #3,759
  • Jul 22, 2008 9:40am Jul 22, 2008 9:40am
Quoting Hensby
Sorry I left yesterday but thanks for the info. I will try and get into the trading room when I see you are there. I`m in Australia so tend to go to bed around midnight our time (2200gmt).
Hi Hensby

I was in the trading room around 9.30 to 10.00am Melbourne time this morning (0 GMT time) so if you are available then you may want to check out the trading room. It's great being able to see a live chart being discussed.

regards
Daisygirl
  • #3,760
  • Jul 22, 2008 8:18pm Jul 22, 2008 8:18pm
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