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How to use the 123 strategy effectively

  • #241
  • Dec 13, 2010 3:37pm Dec 13, 2010 3:37pm
Quoting stljeffbb
Hello everyone....OK sorry for two posts in a row...

So, it seems that the 1-2-3 is going very well...has anyone had any experiences with times that it has not gone so well, over say a two or three month period?...
Ha ha, OK, no takers...so, I will do an exhaustive manual backtest using Paulus' (very well detailed I might add) rules dating to January 1, 2010 through the current date...it will take me a while, and remember...

Past performance does not indicate future results (lol)

....however, I have the strong feeling this will backtest well, hence why I'm taking the time to do it!

Good trading to all,

Jeff
  • #242
  • Edited 4:19pm Dec 13, 2010 4:04pm | Edited 4:19pm
Quoting Paulus
only 2 trades today 1 on each EU and GU +30 and +14 just constantly moved up my 1 count after that with a 2 never being broken and a 3 never being formed

P

Hi Paulus,

Can you please post charts of your trades today?

Many thanks,

Noel.
  • #243
  • Dec 13, 2010 4:26pm Dec 13, 2010 4:26pm
Quoting bigjim1958
Hey Golferguy:
Good to hear from you again, I'm still trying to win with the 123 pattern, good to see you back contributing.


JIm


Hey bigjim,

Good to hear from you.

When you say that your not winning with 123's do you mean that your losers are bigger than your winners or just not getting the trades at all?

I do not trade intraday but put a 1 hour chart with your 5 minute chart and have all of your trend lines, pivots, anything else that you use on the 1 hr chart and use it to determine if your at a high or low for the day/week or at important turning points.

Then play the 5 minute like Paulus is showing and grap 20/25 pips and then wait for a signal...if you get one ....going the opposite way.

Here is my current euro chart and we are at some good resistance ...so now we wait.

Hope this helps,


golfer1957
Attached Image(s) (click to enlarge)
Click to Enlarge Name: euro daily.gif Size: 23 KB
Click to Enlarge Name: euro 5min.gif Size: 14 KB
  • #244
  • Dec 13, 2010 4:30pm Dec 13, 2010 4:30pm
the 2 trades

yellow box is TP area

cheers

P
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ytp.gif Size: 18 KB
Click to Enlarge Name: ytpeu.gif Size: 18 KB
  • #245
  • Dec 13, 2010 5:10pm Dec 13, 2010 5:10pm
Quoting Paulus
Hi Jim

Good question that and one im often tempted with but to keep it clean I wait for the end of Asian to start the count

cheers

Pto jump
Thanks a lot, I appreciate it.

Jim
  • #246
  • Dec 13, 2010 5:14pm Dec 13, 2010 5:14pm
This indy (I have no idea where it came from) is not too bad. It doesnt follow Paulus's 2 candle rule but is otherwise pretty good. Maybe someone could adjust it so the 2 candle rule is applied.
Paulus-please delete this if you feel it is counter productive
Attached File(s)
File Type: mq4 1-2-3 Pattern MTF v3.1.mq4   22 KB | 858 downloads
We are all One. Be present. Be the Observer
  • #247
  • Dec 13, 2010 5:34pm Dec 13, 2010 5:34pm
that indi plots a lot of false ones :S in 3 candle it will print an 123 setup .... low acuracity... imho.

cheers
  • #248
  • Dec 13, 2010 7:02pm Dec 13, 2010 7:02pm
Quoting golferfx
Hey bigjim,

Good to hear from you.

When you say that your not winning with 123's do you mean that your losers are bigger than your winners or just not getting the trades at all?

I do not trade intraday but put a 1 hour chart with your 5 minute chart and have all of your trend lines, pivots, anything else that you use on the 1 hr chart and use it to determine if your at a high or low for the day/week or at important turning points.

Then play the 5 minute like Paulus is showing and grap 20/25 pips and then wait for a signal...if you get one...
Hey Golfer:
Thanks for the tips, I look forward to seeing you about 2AM EST, good trading.

Jim
  • #249
  • Dec 13, 2010 7:50pm Dec 13, 2010 7:50pm
Hello, guys.

is there some kind of price alert for MT4...let say, i will put a line somewhere on a chart and when the price will touch that price i will hear the alarm go on...

thanks.
  • #250
  • Dec 13, 2010 8:21pm Dec 13, 2010 8:21pm
Quoting ForexSV
Hello, guys.

is there some kind of price alert for MT4...let say, i will put a line somewhere on a chart and when the price will touch that price i will hear the alarm go on...

thanks.

i catch it some where in the forum dont remember where sorry...


move the lines as they apper to where you want to get the allarm when crossed..
Attached File(s)
File Type: ex4 #SR_AlertSystem.ex4   4 KB | 434 downloads
File Type: mq4 #SR_AlertSystem.mq4   4 KB | 504 downloads
  • #251
  • Dec 13, 2010 9:31pm Dec 13, 2010 9:31pm
Quoting lmgp00
i catch it some where in the forum dont remember where sorry...


move the lines as they apper to where you want to get the allarm when crossed..
Thanks buddy.
  • #252
  • Dec 14, 2010 1:45am Dec 14, 2010 1:45am
good morning 1st signal lets seee the conclusion....
Attached Image (click to enlarge)
Click to Enlarge Name: 14 1st trade.gif Size: 78 KB
  • #253
  • Dec 14, 2010 1:47am Dec 14, 2010 1:47am
target reached... +16 pips on that one
  • #254
  • Dec 14, 2010 2:23am Dec 14, 2010 2:23am
another +11 on e/u i'll try to atach the trade later...
  • #255
  • Dec 14, 2010 5:02am Dec 14, 2010 5:02am
i got a loss -24 and a win of +25 later i put the trades with the graph
  • #256
  • Dec 14, 2010 5:15am Dec 14, 2010 5:15am
Quoting stljeffbb
Ha ha, OK, no takers...so, I will do an exhaustive manual backtest using Paulus' (very well detailed I might add) rules dating to January 1, 2010 through the current date...it will take me a while, and remember...

Past performance does not indicate future results (lol)

....however, I have the strong feeling this will backtest well, hence why I'm taking the time to do it!

Good trading to all,

Jeff
Hello Jeff

Have a look at Vantage's HL/LH thread. In essence they are using the 1-2-3 pattern, along with some 2b reversals, and have been for some time. They are always happy to answer questions.

Best wishes
  • #257
  • Dec 14, 2010 5:19am Dec 14, 2010 5:19am
Here is my EURUSD 123 trade that i just entered and would want some comments. In the pictures below you can see my entry, stoploss and takeprofit. I put the tp according to daily candles and stoploss according to 30min candles. Is this okay? And would it be better to move the stoploss to the place i pointed out? I thought that since i'm really trying to catch a big move the trade should have some breathing room. And once it moves up a bit i will move the stoploss upwards also.

Anyone else taking this trade? Comments? Please?

-Richard

http://img96.imageshack.us/img96/7272/entrymz.png


http://img809.imageshack.us/img809/9800/39483233.png
http://img96.imageshack.us/i/entrymz.png/ http://img809.imageshack.us/i/39483233.png/
  • #258
  • Dec 14, 2010 5:43am Dec 14, 2010 5:43am
Attached Image (click to enlarge)
Click to Enlarge Name: gbp-joe1.gif Size: 11 KB


This is maybe a 123 setup on current GU 15 M chart
  • #259
  • Dec 14, 2010 5:54am Dec 14, 2010 5:54am
Hi Richard,

yes you could set your SL below the last 30m low around .3407 - that would be the regular stop of your 123 trade, but according to your TP, its not a bad idea to leave your stop where it is.

good luck

Quoting ariku
Here is my EURUSD 123 trade that i just entered and would want some comments. In the pictures below you can see my entry, stoploss and takeprofit. I put the tp according to daily candles and stoploss according to 30min candles. Is this okay? And would it be better to move the stoploss to the place i pointed out? I thought that since i'm really trying to catch a big move the trade should have some breathing room. And once it moves up a bit i will move the stoploss upwards also.

Anyone else taking this trade? Comments? Please?...
  • #260
  • Dec 14, 2010 7:33am Dec 14, 2010 7:33am
Attached Image (click to enlarge)
Click to Enlarge Name: gbp-joe3.gif Size: 11 KB


The test is running well, it reach the TP1. It gonna be a good and simple system
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