How to use the 123 strategy effectively | Page 34 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

How to use the 9/20 EMA setup effectively 162 replies

Why not 123 strategy? What are Advantages and Disadvantages! 5 replies

How To Effectively Trade In Both Range And Trending Market By A Single Method 39 replies

Scalping the EUR/GBP effectively - Forturama 158 replies

Attachments: How to use the 123 strategy effectively
Exit Attachments

How to use the 123 strategy effectively

  • #661
  • Edited 2:33am Jan 3, 2011 2:16am | Edited 2:33am
good morning... i like the 123 short formation on aud h1. sell stop order in place, risk 5%, tp 5%. since asia was down, on eur and gbp 5mn my count is for longs, but i may not be able to take them as i'll be traveling.

good luck and good trading
Attached Image (click to enlarge)
Click to Enlarge Name: aud-usd_h1_short.png Size: 33 KB
  • #662
  • Jan 3, 2011 4:16am Jan 3, 2011 4:16am
I am not going to trade today, but I have posted two screen shot of what I am watching.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USD.CHF1-3-2011 5-05-21 AM.png Size: 95 KB
Click to Enlarge Name: GBP.USD 1-3-2011 5-12-48 AM EST.png Size: 93 KB
  • #663
  • Jan 3, 2011 5:54am Jan 3, 2011 5:54am
+21 on long EU

Long GU at 1.5468
TP 1.5485
SL 1.5444

Looking for shorts on EU

P
  • #664
  • Jan 3, 2011 6:16am Jan 3, 2011 6:16am
Quoting Paulus
+21 on long EU

Long GU at 1.5468
TP 1.5485
SL 1.5444

Looking for shorts on EU

P
Hi Paulus. Did you enter GU long before the break of 2? On my chart the 2 level was 1.5480 . . . .maybe you entered on the trendline break or have I missed something.
Attached Image (click to enlarge)
Click to Enlarge Name: gu123-3jan11.gif Size: 10 KB
Dream big, start small. Have it all
  • #665
  • Edited 7:10am Jan 3, 2011 6:56am | Edited 7:10am
Quoting sean007
Hi Paulus. Did you enter GU long before the break of 2? On my chart the 2 level was 1.5480 . . . .maybe you entered on the trendline break or have I missed something.
i expect it was here... your entry point looks more suitable for 15M (and i'm sure it was profitable for you)
Attached Image (click to enlarge)
Click to Enlarge Name: jan0311.gif Size: 22 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #666
  • Jan 3, 2011 7:07am Jan 3, 2011 7:07am
Couple of trades that are working towards TP...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 32 KB
Click to Enlarge Name: eurjpy.gif Size: 32 KB
Today's zone = Tomorrow's opportunity!
  • #667
  • Jan 3, 2011 7:29am Jan 3, 2011 7:29am
Quoting ChinaWombat
i expect it was here... your entry point looks more suitable for 15M (and i'm sure it was profitable for you)
Got it and thanks for helping me out. I can now see the earlier entry but as I wasn't watching the chart live, my eye was drawn to the setup I pointed out. If trading live the setup Paulus used was the 1st reversal and also gave a better entry price
Dream big, start small. Have it all
  • #668
  • Jan 3, 2011 8:16am Jan 3, 2011 8:16am
Quoting pres78
Couple of trades that are working towards TP...
TP hit (108.82) on EURJPY trade... EURUSD trade still struggling between 161.8 and 138.2 levels. I will keep an eye on this one over the next few hours and if it still seems stuck in range I will close it early. I am thinking about going back to trading with my TP to match the retrace level (per my early posts). Using Paulus style MM whether I target 20 or 60 pips makes no difference on the overall profit / loss. The only thing is I may get burned more often on false initial breakouts with a tighther SL.
Today's zone = Tomorrow's opportunity!
  • #669
  • Jan 3, 2011 9:01am Jan 3, 2011 9:01am
Quoting pres78
TP hit (108.82) on EURJPY trade... EURUSD trade still struggling between 161.8 and 138.2 levels. I will keep an eye on this one over the next few hours and if it still seems stuck in range I will close it early. I am thinking about going back to trading with my TP to match the retrace level (per my early posts). Using Paulus style MM whether I target 20 or 60 pips makes no difference on the overall profit / loss. The only thing is I may get burned more often on false initial breakouts with a tighther SL.
Closed out EURUSD at BE (have to leave for awhile), PA is terrible ATM for a long... last 4hr that just closed was very bearish.
Today's zone = Tomorrow's opportunity!
  • #670
  • Jan 3, 2011 9:47am Jan 3, 2011 9:47am
about +5% on this one. sl above point 1. aud/usd h1 short got triggered
Attached Image (click to enlarge)
Click to Enlarge Name: g-u_short.png Size: 32 KB
  • #671
  • Jan 3, 2011 9:59am Jan 3, 2011 9:59am
Another long EUR/USD on it's way...... TP just hit as I was typing this.
Also just triggered another parked buy and on it's way.....
Attached Image (click to enlarge)
Click to Enlarge Name: Screen shot 2011-01-03 at 7.57.12 AM.png Size: 22 KB
  • #672
  • Jan 3, 2011 10:18am Jan 3, 2011 10:18am
good day today

EU +21-21+22+20 = +10%

GU +17+26 = +10%

rather than pip gain Im looking % of account gain

P
  • #673
  • Jan 3, 2011 10:27am Jan 3, 2011 10:27am
Quoting pres78
Closed out EURUSD at BE (have to leave for awhile), PA is terrible ATM for a long... last 4hr that just closed was very bearish.
Man wish I didn't have to leave... EURUSD would have hit it's TP at 3378 if I had of left it alone. Oh well up 5% on the day.
Today's zone = Tomorrow's opportunity!
  • #674
  • Edited 11:46am Jan 3, 2011 11:31am | Edited 11:46am
I think I remember Paulus saying once in, let it run..... Sorry you missed the trade.
  • #675
  • Jan 3, 2011 12:21pm Jan 3, 2011 12:21pm
Quoting tradestar1
I think I remember Paulus saying once in, let it run..... Sorry you missed the trade.
Ah well always another trade... yes he has said that and normally that is how I try and trade. Just wasn't crazy about the PA and didn't want to lose the 5% I made as I was finishing trading for the day. Nice thing about Forex is that a missed trade is no big deal since there will always be another set-up.
Today's zone = Tomorrow's opportunity!
  • #676
  • Jan 3, 2011 9:58pm Jan 3, 2011 9:58pm
3 Nice long trades....... Closed at 1.3373
Attached Image (click to enlarge)
Click to Enlarge Name: Screen shot 2011-01-03 at 7.55.42 PM.png Size: 21 KB
  • #677
  • Jan 3, 2011 11:36pm Jan 3, 2011 11:36pm
hi...just woke up and found out that my aud/usd h1 short was closed for a 5% profit. thank you paulus and all for providing such an easy method.
Attached Image (click to enlarge)
Click to Enlarge Name: aud_usd_h1_short.png Size: 34 KB
  • #678
  • Jan 4, 2011 1:23am Jan 4, 2011 1:23am
Quoting bubola
hi...just woke up.... for a 5% profit.
now that's the way to trade....get those golf clubs shined up!
Catching a falling knife, no, I'm just trading the Gartley!
  • #679
  • Jan 4, 2011 1:41am Jan 4, 2011 1:41am
nice trading but tooooooo early for me

Long EU at
1.3353
TP 1.3379
SL 1.3321

Gu nothing yet but 1 and 2 in place for the long

cheers

P
Attached Image (click to enlarge)
Click to Enlarge Name: jan 11.gif Size: 13 KB
  • #680
  • Jan 4, 2011 1:45am Jan 4, 2011 1:45am
Right there with ya..... I got in at 1.3352

how ever I am using a 15 point trailing stop.
1 trader viewing now