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Attachments: How to use the 123 strategy effectively
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How to use the 123 strategy effectively

paulus please if you can contact me at [email protected] i need to speak to you about this system...


thanks in advance
Luis.
Please ask your question here. So everyone can see. More beneficial. Thanks.
Enter Signature
ok i can ask the questions here so let's go get the charts and i'll post it here right away mean while I still want to speak with paulus if he can please contact cheers 5 min and i'll try to put here my doubts
so here we are this chart is from yesterday trades i made on G/U so I wake up at 7am and spoted the trend for the asia session up trend so loocking for shorts ...

07:15 we got the 1
07:40 the 2
07:50 the 3

and the open of the trade was at :08.02

this one gone pretty well and pretty quick nice trade here.

well then if a short is filled we begun loocking for longs

so we got the 1 at : 08:50
the 2 at : 09:10
the 3 at : 09:20
open trade at :09:40 a long trade.

this one got stoped out :S at: 12.20

so the thing i've notice at least with me is that the 1st trade of the day is always 90% of the times going to be a profitable trade, but then comes the problem of how do we spot the next setup....

cause what as been happening with me is that the frist trade is good and quick but then the second trade I loose :S and most of the times the price comes to make a LL or HH and then go in the direction i wanted to but i'm already out....




thanks in advance
chart attached

123 red means a setup short
red line TP short setup
123 green long setup
green line was my tp on long but got kicked out

o put the SL 1 pip (abose /below 1) and entry point 1pip abose/below 2

on the second trade as you can see i got kicked out just before the move up and only for a few ticks...

so the question is do you paulus/sidefx (or any other trading 123) have some way to dodge this kind of kickouts ???? its not the first time i see this behavior ...

PS- sorry my english and the charts as I said i'm newbie yet.
Luis.
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Quoting ChinaWombat
demo accounts can always be renewed, but not your capital

why not just demo (using your risk capital as the nominal demo amount) for a couple of months until completely comfortable with it and then go live... there is no expiry date on the fx market
Hello ChinaWombat....thanks very much for your concern...I appreciate it!

I prefer to test in "live" conditions, and I want to test in a way that is somewhat meaningful...my "side" account at OANDA is just a sub worth $10...which is now $10.47! One of the good things about OANDA is the ability to do this....very small amounts of money....I believe FXCM allows for some very low amounts too and micro-lot trading...something to check into.

Speaking to the OANDA crashes...my background has been as a scalper for the last two years (on and off...life has gotten in the way more than once)....I was training on the Rainbow MMA method (otherwise known as Cyrox....here is a link to the thread here on FF), and I had very modest success...I'm not the type to "blow" accounts then talk lustily about it; I am very careful and about 90% of my trading for the last five years has been on demo...I have seen those platform crashes, but due to the nature of "scalping" (in and out), almost always those crashes have happened when I'm not in the market....blah blah blah

Concerning this method, it reminds me very much of some of the scalping I did before (believe it or not)....looking for tops and bottoms is one scalping strategy, and doing the 1-2-3 on the 5 minute (or larger) TF is like doing the aforementioned in slow motion, which I like very much!

Lastly, as has been mentioned here, the markets are fractal (although I half-jokingly call them quasi-fractal because of the noise on the lower levels [lol even on the 5 minute time frame....check out the down spike on December 24 at 0055 UTC on the EU! Bet that took out some stops...]. I'm seeing many of the same movements on the 5 second timeframe as we do here in the 5 minute situation....the Ross hooks appear to have promise on the quicker TFs, but I'm still looking into that...nonetheless, tradestar1 is correct in there should be focus and we likely need only one "method" to be successful...nonetheless, the Paulus method is one that I'm adopting as one method, and my scalping is something I will continue to refine...

btw...that is one of the best applications I find for the rainbow MMA, the depth of a move and the registering of the waves....here is an example:

http://i13.photobucket.com/albums/a2...2420100001.jpg

OK that's it....it's Christmas Eve and the family will kill me if I don't get back to merry making...seasons greeting to all, many pips to all, and to all, happy trading!

Regards,

Jeff
Quoting lmgp00
paulus please if you can contact me at [email protected] i need to speak to you about this system...


thanks in advance
Luis.
Although I can not speak for Paulus, I doubt he wants to start giving us all private tutorials.

We all owe a huge thanks to Paulus for sharing his expertise, and I think to ask him to give private lessons is going too far.

As I see you are fairly new to forexfactory, I guess you don't understand how tiring it can be to support a thread and answer all the questions that are posted publicly....to start answering questions privately may be the straw that broke the camels back

Best wishes for the holidays.
Quoting pgpb
We all owe a huge thanks to Paulus for sharing his expertise...
Hear hear!
Quoting pgpb
Although I can not speak for Paulus, I doubt he wants to start giving us all private tutorials.

We all owe a huge thanks to Paulus for sharing his expertise, and I think to ask him to give private lessons is going too far.

As I see you are fairly new to forexfactory, I guess you don't understand how tiring it can be to support a thread and answer all the questions that are posted publicly....to start answering questions privately may be the straw that broke the camels back

Best wishes for the holidays.

hi PG, my intents are not to have private lessons from paulus, but do not understand me wrong i would be honored to be one of the fortunate to be teached from paulus, but is not my intentions, i already have some kind people that is added me to yahoo and I did not ask them to be give me private tutos, my intention is to get on contact and speak with people with pretty much experience than me, only to give kind advices from some errors common errors I make, by the way feel free to add me to your yahoo i will gladly accept , as I know that you also may constitute a good friend to talk about forex as you have pretty much experience than me.

my learning curve is slowly but steadly rising up, and speaking with much experience people provides me a greater learning experiences ...

merry christmas

by the way got a profitable sell on E/U today. loocking for longs....
Quoting lmgp00
so here we are this chart is from yesterday trades i made on G/U so I wake up at 7am and spoted the trend for the asia session up trend so loocking for shorts ...

07:15 we got the 1
07:40 the 2
07:50 the 3

and the open of the trade was at :08.02

this one gone pretty well and pretty quick nice trade here.

well then if a short is filled we begun loocking for longs

so we got the 1 at : 08:50...
Regarding your question about being stopped out on your second trade........

You have to remember these markets during this time of year are NOT the norm.........

Liquidity is thin and prices are easily manipulated.

Price action will return to more normal cycles after the new year.

During the holidays you should be doing what the big dogs are doing..... Enjoy your time off, Enjoy your family, Enjoy your blessings.
Quoting tradestar1
Regarding your question about being stopped out on your second trade........

You have to remember these markets during this time of year are NOT the norm.........

Liquidity is thin and prices are easily manipulated.

Price action will return to more normal cycles after the new year.

During the holidays you should be doing what the big dogs are doing..... Enjoy your time off, Enjoy your family, Enjoy your blessings.

thanks for your answer yes you are totally right and thanks for the advice next time i'll be more carefull on holyday times ...

merry christmas.
Luis
Here is an article I ran across some time ago, I thought it would be pertanant here for some of you.

It's about Fixed Fractional position sizing
Christmas week

EU

37
31
-15+45+3
10-23+18
-2

Total = +104 pips

GU

12
33
11+3
21-40

Total = +40 pips

Combined Total = +144pips

Cheers

P
Quoting Paulus
I need to clarify some thing here which I thought was obvious and haunt happened a great deal so its not really come up but have had an email from some one who had my address before i closed out email and Pvt messages

If we go short and that fails its because the price has broken our Stop loss which is point 1

As we know an up trend makes higher highs and higher lows so if our SL is hit on a short we can assume that the current trend made a higher hi and the trend is still in tact

2 reasons

Price made a higher hi
And that higher hi broke our...
Merry Christmas everyone:
Hope you all had a nice holiday. Paulus, quick question please, I understand you start at 2AM EST looking for the trend, but what if you miss the start and look at charts later in the day, or even during the NY session, how do you determine what the trend is so you can then start trading, long short, long short, etc? Hope this questions makes sense. Thanks again for everything.

Jim
Quoting Paulus
Hi Side

yes 2 trade so far -25 on EU and +11 on GU

Because of my MM trade twice as many contracts ( £'s) on GU compared to EU so currently approx flat for the day

The thing about this MM is having

1 loser at 50 and

4 winners at 10 overall in the stats may look good..5 trade 1 loser 80% strike rate....but you lost 10 pips overall

If I have a loser for 100 pips I know my next trade if a winner not matter what the TP will bring me to break even

Cheers

paulus
Hi Paulus,
Would you elaborate on your style of MM?
Thank you.
Quoting bigjim1958
Merry Christmas everyone:
Hope you all had a nice holiday. Paulus, quick question please, I understand you start at 2AM EST looking for the trend, but what if you miss the start and look at charts later in the day, or even during the NY session, how do you determine what the trend is so you can then start trading, long short, long short, etc? Hope this questions makes sense. Thanks again for everything.

Jim
Hi Jim

If I come into the market at midday for example all I simply do is look for the last 123 signal and see if its in play

In other words if I see a qualifying short that triggered 30mins ago and it is still active ie no tp or sl hit then I have to wait until that signal has completed

So if its a short and it loses it means the up trend is still in place so I would them look for a short

If it hits its TP I look for a long

So rather than determine trend I look for the active signal

cheers

Paulus
Set my SL at 38.2 and my TP at -61.8 for slightly better than 1:1.
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Today's zone = Tomorrow's opportunity!
Quoting pres78
Set my SL at 38.2 and my TP at -61.8 for slightly better than 1:1.

Hi there pres78

Best of the holidays to you.

I noticed that you are trading the EURCHF

I am curious, do you scan various currency pairs looking for a good looking set up?

In my own developing trading plan I was thinking of just watching one or maybe two pairs......but I also know that some 123's look better than others......which then makes me think that scanning numerous pairs looking for the best looking 123 is another alternative?

May I ask why you choose the EURCHF?

PGPB
Quoting pgpb
Hi there pres78

Best of the holidays to you.

I noticed that you are trading the EURCHF

I am curious, do you scan various currency pairs looking for a good looking set up?

In my own developing trading plan I was thinking of just watching one or maybe two pairs......but I also know that some 123's look better than others......which then makes me think that scanning numerous pairs looking for the best looking 123 is another alternative?

May I ask why you choose the EURCHF?

PGPB
I scan all pairs that have a spread of 3 pips or less on my broker. My main 2 pairs are EURUSD and GBPUSD but I will look for opportunities on all others with the right spread. Also I like to watch the daily range and watch pairs with good daily movement (all are bad and unpredictable this time of year) and the EURCHF typically has nice daily movements.

I am actually in the process of rewritiing my trading plan for 2011 laying out daily goals for pips / profit, lot sizes and risk based on the same daily pip goals without increasing the goal but increasing lot sizes to grow profits as my account grows and how I will utlize my 3 trading methods to achieve these goals (sorry if I got off topic but I see you mentioned your developing trading plan. BTW I am also making my trading plan based on 40 weeks of trading with 12 weeks off for vacation time with the family and no trading on bank holidays or over Christmas.

I hope the holidays have been good for you also.
Today's zone = Tomorrow's opportunity!
I am short EU and GU

GU from 1.5423 I actually got to 1pip of TP and then it rallied slightly

EU short from 1.3148 and bumbling around just in profit

will answer question on MM a little later

cheers

P
Quoting Paulus
I am short EU and GU

GU from 1.5423 I actually got to 1pip of TP and then it rallied slightly

EU short from 1.3148 and bumbling around just in profit

will answer question on MM a little later

cheers

P

hi paulus


i pm'd you a few times but did not get a response. just wondering if your EOD system is still working for you ? if not, which one of your systems is still doing it for you , still working good ?


happy new year to all !
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