123 Method by lgtj | Page 7 | Forex Factory

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123 Method by lgtj

  • #121
  • Sep 29, 2010 9:02am Sep 29, 2010 9:02am
Hi - Interesting thread can I check a couple of points:
You mention you work full time, how many trades per week do you general enter

What is your win/loss ratio

Thanks

Tim
  • #122
  • Sep 29, 2010 9:50am Sep 29, 2010 9:50am
Hi, nice thread. From your experience on this system, how much signal able to get within 1 weeks?
  • #123
  • Sep 29, 2010 10:18am Sep 29, 2010 10:18am
Quoting wickstedFX
Hi - Interesting thread can I check a couple of points:
You mention you work full time, how many trades per week do you general enter

What is your win/loss ratio

Thanks

Tim
Hello wickstedfx and welcome. I just recently started trading this way after backtesting this strategy for a while. I don't have any stats for you.
  • #124
  • Sep 29, 2010 10:19am Sep 29, 2010 10:19am
Quoting hwang ti puh
Hi, nice thread. From your experience on this system, how much signal able to get within 1 weeks?
Hello hwang ti puh and welcome. I don't have an answer for you because it all depends on price action.
  • #125
  • Sep 29, 2010 10:34am Sep 29, 2010 10:34am
Nice thread.....price action is the way to go. Fibs and price action are my favorite so you definitely have my attention. I will demo this strategy and post my results as well. Keep up the good work.

My only thought is the exit levels. I like to trade with a minimum of 1:2 RR because it allows me to lose more trades and still come out with a profit. I use to trade 1:1 but recently got a mentor and he has changed my whole style of trading. I use to trade with lots of indicators but now it is purely price action.

My question is what kind of success have you had with this system based off your entries and exits with win %? I noticed your profit target is the same distance as point 1 to 2. If you have a exit level of 300 pips then do you try to have your stop loss less than that? Do you pass on trades if your stop loss is larger than your take profit level?
  • #126
  • Sep 29, 2010 10:48am Sep 29, 2010 10:48am
Thank you for that post, i will give it a try.
  • #127
  • Sep 29, 2010 11:24am Sep 29, 2010 11:24am
Hi Igtj,

Before my observation of N/U. Do I determine the 123 pattern in correct way (D1)? I am a bit confuse how to determine 123 sometimes.

Sometimes when I used the 123 pattern indicator it's drawn differently from mine.

From my observed of N/U
W1: MACD's in buy mode.
D1: going into divergense? As MACD's showing up trend is slowing down.
H4: uptrend slowing down as D1.

After divergence; buy mode start again from D1 and than H4; break 0.73920 (Daily swing high) is it a conservative entry? However she seems ranging currently. Please advise.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: nuh4.gif Size: 16 KB
  • #128
  • Sep 29, 2010 11:56am Sep 29, 2010 11:56am
Quoting sam2vt
Hi Igtj,

Before my observation of N/U. Do I determine the 123 pattern in correct way (D1)? I am a bit confuse how to determine 123 sometimes.

Sometimes when I used the 123 pattern indicator it's drawn differently from mine.

From my observed of N/U
W1: MACD's in buy mode.
D1: going into divergense? As MACD's showing up trend is slowing down.
H4: uptrend slowing down as D1.

After divergence; buy mode start again from D1 and than H4; break 0.73920 (Daily swing high) is it a conservative entry? However she seems ranging currently. Please advise....
personaly i would think there's no signal presently..rather there's been a long entry since the 20th or thereabout on the 4hr tf...

On the daily entry i'll need to see a new 123 to form on the weekly.....

just my own opinion, i may be wrong
God's Love For You Is Sure Never You Doubt It
  • #129
  • Sep 29, 2010 12:47pm Sep 29, 2010 12:47pm
Quoting RHoward
Nice thread.....price action is the way to go....
Hello RHoward and welcome. I just recently started to trade this method after backtesting it for a while, so I have no win % for you. The profit target is the same distance from Points 2 and 3 not 1 and 2. Re-read the first page about stop loss placement.
  • #130
  • Sep 29, 2010 12:54pm Sep 29, 2010 12:54pm
Quoting sam2vt
Hi Igtj,

Before my observation of N/U. Do I determine the 123 pattern in correct way (D1)? I am a bit confuse how to determine 123 sometimes.

Sometimes when I used the 123 pattern indicator it's drawn differently from mine.

From my observed of N/U
W1: MACD's in buy mode.
D1: going into divergense? As MACD's showing up trend is slowing down.
H4: uptrend slowing down as D1.

After divergence; buy mode start again from D1 and than H4; break 0.73920 (Daily swing high) is it a conservative entry? However she seems ranging currently. Please advise....
I'll give you my analysis later because I'm still at work.
  • #131
  • Sep 29, 2010 11:01pm Sep 29, 2010 11:01pm
Quoting sam2vt
Hi Igtj,

Before my observation of N/U. Do I determine the 123 pattern in correct way (D1)? I am a bit confuse how to determine 123 sometimes.

Sometimes when I used the 123 pattern indicator it's drawn differently from mine.

From my observed of N/U
W1: MACD's in buy mode.
D1: going into divergense? As MACD's showing up trend is slowing down.
H4: uptrend slowing down as D1.

After divergence; buy mode start again from D1 and than H4; break 0.73920 (Daily swing high) is it a conservative entry? However she seems ranging currently. Please advise....
First, the macd went into buy mode on the daily chart on 7/9/10. Then the macd went into buy mode on the weekly chart during the week of 7/11/10. Points 1 and 2 were established on the daily chart in July. If you've noticed, the price action on this pair is not that great. This is why I don't trade this pair. Look at my charts and you'll see that price has not gone much higher than initial conservative entry.
Attached Image (click to enlarge)
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Click to Enlarge Name: nzdusd d1.gif Size: 23 KB

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  • #132
  • Sep 29, 2010 11:17pm Sep 29, 2010 11:17pm
I am curious about when price reached the BE,
then i exit my previous trade and enter at BE again then wait for candle to reach TP?
Attached Image (click to enlarge)
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  • #133
  • Sep 30, 2010 5:42am Sep 30, 2010 5:42am
Quoting kkc888kkc
I am curious about when price reached the BE,
then i exit my previous trade and enter at BE again then wait for candle to reach TP?
Hello kkc and welcome. When price reaches the BE point, you can either bring all of your open positions to BE and let them run to TP, or close some of your open positions at the BE point and let the rest run to TP, or close all of your positions at the BE point. It's up to you. I also noticed that your chart is a 15min chart. I only trade this method on the 4H time frame and up.
  • #134
  • Sep 30, 2010 6:07am Sep 30, 2010 6:07am
Look at these charts of gbpusd. Everything is looking good so far. I am currently over 600 pips in profit on this pair.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd d1.gif Size: 20 KB

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 4h.gif Size: 21 KB
  • #135
  • Sep 30, 2010 6:12am Sep 30, 2010 6:12am
Quoting D liberators
personaly i would think there's no signal presently..rather there's been a long entry since the 20th or thereabout on the 4hr tf...

On the daily entry i'll need to see a new 123 to form on the weekly.....

just my own opinion, i may be wrong
Thanks for your kind opinion.
  • #136
  • Sep 30, 2010 6:19am Sep 30, 2010 6:19am
Quoting lgtj
First, the macd went into buy mode on the daily chart on 7/9/10. Then the macd went into buy mode on the weekly chart during the week of 7/11/10. Points 1 and 2 were established on the daily chart in July. If you've noticed, the price action on this pair is not that great. This is why I don't trade this pair. Look at my charts and you'll see that price has not gone much higher than initial conservative entry.
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Thanks for your time to analize. I am also a working adult. Therefore, higher tf and swing trading is suit for me. I like your strategy and your helps make me understand more in PA. Of course others who help me too I would like to say thank you very much too. Nice pipping
  • #137
  • Sep 30, 2010 6:28am Sep 30, 2010 6:28am
Quoting sam2vt
Thanks for your time to analize. I am also a working adult. Therefore, higher tf and swing trading is suit for me. I like your strategy and your helps make me understand more in PA. Of course others who help me too I would like to say thank you very much too. Nice pipping
You're welcome!
  • #138
  • Sep 30, 2010 9:00am Sep 30, 2010 9:00am
Hello lgtj,

this system is regarding momentum? Did you bought the system from the owner of stock momentum trading system?
  • #139
  • Sep 30, 2010 9:58am Sep 30, 2010 9:58am
Quoting lgtj
Look at these charts of gbpusd. Everything is looking good so far. I am currently over 600 pips in profit on this pair.
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wao!!! nice trade you've got.....are you still in GJ long?
God's Love For You Is Sure Never You Doubt It
  • #140
  • Sep 30, 2010 12:32pm Sep 30, 2010 12:32pm
Quoting hwang ti puh
Hello lgtj,

this system is regarding momentum? Did you bought the system from the owner of stock momentum trading system?
No. I got the e-book off of another thread.
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