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How to use the 123 strategy effectively

  • #1,141
  • Jan 30, 2011 7:45am Jan 30, 2011 7:45am
Hey.

Thanks Paulus

Best wishes,

D.
  • #1,142
  • Jan 30, 2011 3:40pm Jan 30, 2011 3:40pm
Hey.

Paulus I have one question about pairs what is Your opinion what pairs give the most 123 signals, and what pairs do You watch?
I'l give a list that I use at the moment, feel free to add some or take away.
(EU,UJ,EJ,GU,AU,UCHF,UCAD,)
I would like to know what pairs do you watch.

Best wishes,

D.
  • #1,143
  • Jan 31, 2011 1:29am Jan 31, 2011 1:29am
The only pairs I watch are EURUSD and GBPUSD

I have no info on any others

Regards

P
  • #1,144
  • Jan 31, 2011 4:21am Jan 31, 2011 4:21am
Hi Paulus

No doubt you have tried or checked a number of spread betting firms, which one do you find better as to spreads margins and in particular order management?
Regards
  • #1,145
  • Jan 31, 2011 5:44am Jan 31, 2011 5:44am
For now it's developing as it should
Attached Image
  • #1,146
  • Jan 31, 2011 6:00am Jan 31, 2011 6:00am
Entered just before LO...
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Today's zone = Tomorrow's opportunity!
  • #1,147
  • Jan 31, 2011 11:58am Jan 31, 2011 11:58am
You gotta love when these work out so nicely... I entered with a SL of 12pips and a TP of 24 pips for a nice 2:1 RR. Left for lunch without setting my TP (man that could have burned me bad)... Got lucky as it has just kept going and going. So far it is up over 70 pips and I am locked in with 48 so far for a 4:1 RR... will let the rest ride and see what happens.
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Today's zone = Tomorrow's opportunity!
  • #1,148
  • Jan 31, 2011 2:19pm Jan 31, 2011 2:19pm
Hey Pres......
Man I gotta say you have really taken ahold of this 123 method, Keep up the good work.
At this rate you will be able to dump the day job

How many pairs are you following now?
  • #1,149
  • Jan 31, 2011 2:25pm Jan 31, 2011 2:25pm
Quoting tradestar1
Hey Pres......
Man I gotta say you have really taken ahold of this 123 method, Keep up the good work.
At this rate you will be able to dump the day job

How many pairs are you following now?
I watch 9 or so pairs... anything with less than 3 pip spread. No quiting anytime soon as my account is still way too small to do any real damage or make any real money. I was left with $500 in my account after I cleaned it out to help cover living costs this year while my wife is out on maternity leave. Long ways from doing this fulltime. I am trading much smaller lots than I did with my normal account size.
Today's zone = Tomorrow's opportunity!
  • #1,150
  • Feb 1, 2011 10:41am Feb 1, 2011 10:41am
Hello

I wondered if anyone took any trades off EU yesterday? The London session was a continuation of the upward Asia trend. The only counter trend I took, failed. If anyone did it differently I would be really interested to hear your thoughts!

Thanks
  • #1,151
  • Feb 1, 2011 12:41pm Feb 1, 2011 12:41pm
Quoting Delite
Hello

I wondered if anyone took any trades off EU yesterday? The London session was a continuation of the upward Asia trend. The only counter trend I took, failed. If anyone did it differently I would be really interested to hear your thoughts!

Thanks
I took a short on EURUSD Monday and another today that got both got stopped out. However I'm working on a strategy that uses the 200 tick chart plus support and resistance and so far it's looking good. I'll post some charts and a summary of the method at the end of the week.
Dream big, start small. Have it all
  • #1,152
  • Edited 10:12am Feb 2, 2011 10:02am | Edited 10:12am
this is what i try to look for: clean swing with TL break, heiken ashy rotation, full body HA candle. sl at swing low, tp 1:1. 1st LIVE TRADE.
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  • #1,153
  • Feb 2, 2011 10:05am Feb 2, 2011 10:05am
Quoting bubola
this is what i try to look for: clean swing with TL break, heiken ashy rotation, full body HA candle. sl at swing low, tp 1:1
Nice trade.
Today's zone = Tomorrow's opportunity!
  • #1,154
  • Feb 2, 2011 12:04pm Feb 2, 2011 12:04pm
Anyone else struggling this week?
  • #1,155
  • Feb 2, 2011 1:48pm Feb 2, 2011 1:48pm
Quoting scchamp
Anyone else struggling this week?
yeah.... I am.

Paulus, how about you? can you post some of you trades winners and looser (if you have any)....so we can learn.

Thanks.
  • #1,156
  • Feb 2, 2011 2:03pm Feb 2, 2011 2:03pm
Hi there!

Following this thread for a while, got some more skills to my trading.

So here wanted to post one nice setting with quick SL. As it was just before UK data was announced. As here is mostly nice TP examples wanted to ad some losing trade.

Thanks to all, who is shearing there experience!
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  • #1,157
  • Feb 2, 2011 3:56pm Feb 2, 2011 3:56pm
Remember this is NFP week......... lots of volatility then a dead space Thursday evening till after the cooked books,, er I mean report.
  • #1,158
  • Feb 3, 2011 1:36am Feb 3, 2011 1:36am
Quoting dzero
Hi there!

Following this thread for a while, got some more skills to my trading.

So here wanted to post one nice setting with quick SL. As it was just before UK data was announced. As here is mostly nice TP examples wanted to ad some losing trade.

Thanks to all, who is shearing there experience!
hi dzero. personally i never ever initiate a trade before a news release on a 5mn TF or even 15mn. you're exposing yourself to unnecessary risk, and it's not worth it.
  • #1,159
  • Feb 3, 2011 1:41am Feb 3, 2011 1:41am
Quoting bubola
hi dzero. personally i never ever initiate a trade before a news release on a 5mn TF or even 15mn. you're exposing yourself to unnecessary risk, and it's not worth it.
Yes you are right, but there was nice setting i placed order and live it alone. And news was not with high importance, but figures come to good. I like to say, you never stop to learn.
  • #1,160
  • Feb 3, 2011 10:15am Feb 3, 2011 10:15am
Quoting scchamp
Anyone else struggling this week?
Yes, this week has been tough, but as has been mentioned, it is NFP week and choppiness ensues. The problem when you have a few tricky sessions is maintaining confidence in the strategy.

The strategy, in my opinion is excellent, its just this week has thrown a few curve balls - for instance on Monday, the trend in Asia was strong and continued so through London. There was no appetite for reversal.

On choppier days I have just lowered my tp to ensure I get in and out - simply to preserve sanity!

Bit annoyed because I missed the moves today, simply because the last few days have made me over analyse rather than simply executing automated trades.

However, it will soon be business as usual.

Paulus - if you are around I would be really interested to hear how you got on this week.


ETA - in strong trends maybe countertrend trades' tp should be altered accordingly?
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