How to use the 123 strategy effectively | Page 49 | 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

  • #961
  • Jan 13, 2011 1:25pm Jan 13, 2011 1:25pm
Quoting Paulus
another good day for u guys

EU - W and looking for shorts
GU - W and looking for shorts


P
Paulus....for the EU long was your entry the 1 2 3 shown on the image below, or the abc shown, or another?

thx!

PGPB
Attached Image (click to enlarge)
Click to Enlarge Name: 123.png Size: 8 KB
  • #962
  • Jan 13, 2011 2:44pm Jan 13, 2011 2:44pm
Hi PG

here it is

Cheers

P
Attached Image (click to enlarge)
Click to Enlarge Name: eu t long.gif Size: 17 KB
  • #963
  • Jan 13, 2011 2:46pm Jan 13, 2011 2:46pm
Quoting tdeu
Hi Paulus,

Nice trades.

Do you have an idea how one could have avoided the red count in favor of the green one this morning on GU?
The candle marked 1red broke above yesterdays high and ran the stops. The short would have been a loser.

Luckily I was only looking for longs as a continuation from the overall trend.
I bought the rejection from the three pushes down straight away at 1.5737.

Thanks

Thomas
Hi

I would of been looking for the long as the market in the Asian session went from top left to bottom right ,..downtrend look for longs so I wouldnt of taken the short but would be looking to take the long

Cheers

P
  • #964
  • Jan 13, 2011 7:25pm Jan 13, 2011 7:25pm
I was a bit irritated by the PA short after Frankfurt open, that broke the high of yesterday.

If one would only "eyeballing" it I'd say too - downtrend in Asia.

Thanks

Thomas

Quoting Paulus
Hi

I would of been looking for the long as the market in the Asian session went from top left to bottom right ,..downtrend look for longs so I wouldnt of taken the short but would be looking to take the long

Cheers

P
  • #965
  • Jan 13, 2011 8:53pm Jan 13, 2011 8:53pm
Quoting ChinaWombat
i'm with you, but on a harmonic basis....good luck

Well did not work out. That was the only trade live that I took last night. Will try again tonight.

Nice trading pres78.
PIP'N
  • #966
  • Jan 14, 2011 3:58am Jan 14, 2011 3:58am
New short on Pound. Let's see where we go.
Attached Image (click to enlarge)
Click to Enlarge Name: Parallels Picture 1.png Size: 102 KB
PIP'N
  • #967
  • Jan 14, 2011 4:27am Jan 14, 2011 4:27am
Quoting golferguy99
New short on Pound. Let's see where we go.
...good luck with this one. PA too messy for me to trade it. I like them 'clean'.
  • #968
  • Jan 14, 2011 6:12am Jan 14, 2011 6:12am
This is the only trade I have taken today and it is ongoing ATM. TP at 200 original SL and 0 with it now at BE as PA hit the 150 fib.
Attached Image
Today's zone = Tomorrow's opportunity!
  • #969
  • Jan 14, 2011 6:13am Jan 14, 2011 6:13am
Quoting golferguy99
Well did not work out. That was the only trade live that I took last night. Will try again tonight.

Nice trading pres78.
Thanks very much...
Today's zone = Tomorrow's opportunity!
  • #970
  • Jan 14, 2011 6:15am Jan 14, 2011 6:15am
Not a nice day for 123 trades... EURUSD has had a nice move up and now but no real nice set-ups to trade using this method.
Today's zone = Tomorrow's opportunity!
  • #971
  • Jan 14, 2011 6:41am Jan 14, 2011 6:41am
EURUSD 123 short on 15min and short 2B on 1 hour developing however extremely CT
Regards
  • #972
  • Jan 14, 2011 6:45am Jan 14, 2011 6:45am
Quoting howard
EURUSD 123 short on 15min and short 2B on 1 hour developing however extremely CT
Was tempted with the EU 15min short, but i'll take the GU long (15min) instead.
  • #973
  • Jan 14, 2011 7:01am Jan 14, 2011 7:01am
Quoting pres78
This is the only trade I have taken today and it is ongoing ATM. TP at 200 original SL and 0 with it now at BE as PA hit the 150 fib.
Terrible PA today... Calling it a day / week for trading. Closed my trade for 2.5% gain today. It's been a good week so now I shall do some studying and ready myself for next weeks open. Have a great weekend all and good luck with any trades taken today.
Today's zone = Tomorrow's opportunity!
  • #974
  • Jan 14, 2011 10:47am Jan 14, 2011 10:47am
Hi all, this thread is right up my street...
Nice EURUSD 123 reversal trade just after 3pm (GMT)today hit the target no problems.
It takes a long time waiting for them but it makes it all worth it when they work out.
  • #975
  • Jan 14, 2011 11:45am Jan 14, 2011 11:45am
Quoting tonym
Hi all, this thread is right up my street...
Nice EURUSD 123 reversal trade just after 3pm (GMT)today hit the target no problems.
It takes a long time waiting for them but it makes it all worth it when they work out.
Nice trade.
Today's zone = Tomorrow's opportunity!
  • #976
  • Jan 14, 2011 1:19pm Jan 14, 2011 1:19pm
yep

nasty looking day

have to concentrate and mark all points esp on GU

EU 5min 2b short for +26 (W) currently long from 1.3361
TP is 1.3402
SL is 1.3312

GU

Long at mo from 1.5869
TP is 1.5922
SL is 1.5808

Now knackered will have a break and check back later

cheers

P
  • #977
  • Jan 14, 2011 4:36pm Jan 14, 2011 4:36pm
Quoting Paulus
yep

nasty looking day

have to concentrate and mark all points esp on GU

EU 5min 2b short for +26 (W) currently long from 1.3361
TP is 1.3402
SL is 1.3312

GU

Long at mo from 1.5869
TP is 1.5922
SL is 1.5808

Now knackered will have a break and check back later

cheers

P
Ok closed EU for +6
GU for +3

good end to a tough day

P
  • #978
  • Jan 14, 2011 10:57pm Jan 14, 2011 10:57pm
Got out of my short with +1. Better than a loss! Have a good weekend everyone. Till Monday.
PIP'N
  • #979
  • Jan 15, 2011 10:58am Jan 15, 2011 10:58am
I am clear on the entry and SL for a 2B (even though I still miss them from time to time in real time) but I have always been mystified by the exits. Sometimes they are huge winners and at other times you should take whatever you can. What is the best way to exit? I am posting this here because I noticed a lot of people trade the 2B as a compliment to 123.

Thanks
  • #980
  • Jan 15, 2011 12:59pm Jan 15, 2011 12:59pm
I use the distance from c to the actual entry point

so if c to entry is 20 pips then my TP is 20 pips

Stop is 1 pip below c

and each trade is 5% of account so 2 pip TP or 100 pip TP I win or lose the same

P
Attached Image (click to enlarge)
Click to Enlarge Name: 2b exit.gif Size: 20 KB
0 traders viewing now