123 R 10 system - Jan 16th 2011

Marry Xmas guys=) (and ladies if there are any=

open up a 1D eurusd chart (preferred using candle sticks)
now look there's lots of wicks right?
now many of you who are not newbies are familiar with the candle stick formation of 1 2 3 reverse..(ill upload pics)
well that's the holly grail..
when you see that formation on 1D enter the next candle in the opposite opposite direction (i mean if the 1 2 3 are bullish on the fourth you enter short)
YOU ENTER SHORT WITH 10pip TP!
and 300 SL! (before you say im crazy check it for yourself)

*the candle which comes before the 123R formation must be as R candle(BullBear)

If you have any questions or consultations for improvement you are welcomed to post comments=)
I you wanna say that's madness...
NO THIS IS 300 SL! hh

by
SERGIOS, Israel
wish you the best in the new year and years to come))

This system actually might work, it's just, 10 for 300 is a ratio that would scare some away, and, if traded live with only a small sum of money, would be disastrous for money management.

your right pipster
a small amount of money because if you go big u can lose big..
and i forgot to post a trading plan
deposite 300 or 3k
when you win 300 you withdrawal 300 and again..

Now the pic u uploaded its a great example why we use 10p TP!
and i check the eurusd 1D chart and there maybe 0.001 chance that there is no wick of 10 pip after 123R formation..

In every business there is a risk.. there is a saying in Russian.. who's not risking doesn't drink champagne..
well you need to risk but take a smart risk.. 0.001% count as a smart one=)

Hi Python,

Don't want to get down on your "system" but maybe you can check something out for yourself that would give you more insight in your system.

Do the following: if you have 3 bullish candles go short with a 10pip T/P and a 10pip S/L (S/L and T/P equal)(or even better 11 pip T/P and 10 pip S/L to cover the spread).
If you have 3 bearish candles go long with a 10pip T/P and a 10pip S/L (again better 11T/P and 10pip S/L for the spread).

I know you gonna say that this will absolutly not work. But that is not the point. The point is to see if with this MM (T/P and S/L are equal) if you have a hitrate that is clearly higher then 50% or better then flipping a coin. If it is higher then 55% then you have found yourself indeed a patern that on itself is profitable.
If the hitrate is lower then 55% then you gave proof to yourself that your pattern or entry signal is just plain random and that you could use that MM of 10pips T/P with a 300pip S/L on every opening of a new candle.

Friendly regards... FXiGoR

That is 97% win rate for BE, make a great EA for ClickBank!


cheers

By the way any volunteers coding an ea?))

personally i prefer to do it old school=)

This used to be a commercial system; people would sign up because of the "100 percent win rate guarantee". It eventually went out of business because they had one loss.

here is a basic EA for this.... all it needs is one losing trade to wipe out the profits...

you can try various combinations of SL, TP...

Isn't this also the candle pattern '3 white soldiers' or '3 black ravens'?

thank you round rock)
and yes its a candle pattern like the bearish/bullish kicker btw a very strong candle pattern..
any one is testing it? simulator/demo?)