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How to use the 123 strategy effectively

  • #1,201
  • Feb 9, 2011 1:23am Feb 9, 2011 1:23am
Quoting ChinaWombat
my english is fine... you asked a question, i politely answered it, if you already know the answer then don't ask..

what was the point of your post? the tt was already mentioned earlier in this thread...


question ===do you guys know what Traders trick Entry is?


answer =yes i do or no i do not or what is it....
MY OPINION NOT FINANCIAL ADVISE
  • #1,202
  • Feb 9, 2011 1:27am Feb 9, 2011 1:27am
here u go

P
Attached File(s)
File Type: pdf traderstrickentry06062006.pdf   1.0 MB | 3,167 downloads
  • #1,203
  • Feb 9, 2011 1:32am Feb 9, 2011 1:32am
Morning Paulus

Do you require more than one bar between the points, to eliminate false signals? Would you consider taking a trade if price retraced sufficiently between points 2 and 3 but with only one candle? This sometimes happens in a strong LO trend.

Thanks!

PS what is your view on the traders trick?
  • #1,204
  • Feb 9, 2011 8:15am Feb 9, 2011 8:15am
Quoting Paulus
here u go

P
paulus can you post a chart--any chart since the start of the year so i can match my chart times to yours and translate for myself into NY time (EST). thanks. Any intraday timeframe works.
  • #1,205
  • Feb 9, 2011 8:26am Feb 9, 2011 8:26am
Does this help? It is now 14.25 GMT.
Attached Image (click to enlarge)
Click to Enlarge Name: 9febEU.JPG Size: 162 KB
  • #1,206
  • Feb 9, 2011 9:15am Feb 9, 2011 9:15am
Quoting Delite
Does this help? It is now 14.25 GMT.
it tells me my chart time is 1 hr later than yours and when you hit that low at 11:00 it was 6am here.
  • #1,207
  • Feb 9, 2011 9:17am Feb 9, 2011 9:17am
Quoting simpletrades
it tells me my chart time is 1 hr later than yours and when you hit that low at 11:00 it was 6am here.

Are you East Coast? If so, that will be right as you are 5 hours behind GMT.
  • #1,208
  • Feb 9, 2011 9:26am Feb 9, 2011 9:26am
Quoting Delite
Are you East Coast? If so, that will be right as you are 5 hours behind GMT.
its a nice gesture by you, but what i am trying to do is read paulus' charts from the early pages of this thread and see what times he was having the best success. I cannot pull up charts on my platform that far back. I dont want gmt or anything else. I just want to see a current paulus chart so i can do the exact same thing with his chart times as i did with yours and then on his early posts i can translate his times to NY time by doing the math again.
  • #1,209
  • Feb 9, 2011 9:37am Feb 9, 2011 9:37am
Quoting simpletrades
its a nice gesture by you, but what i am trying to do is read paulus' charts from the early pages of this thread and see what times he was having the best success. I cannot pull up charts on my platform that far back. I dont want gmt or anything else. I just want to see a current paulus chart so i can do the exact same thing with his chart times as i did with yours and then on his early posts i can translate his times to NY time by doing the math again.
Oh I see. Sorry!

In a final, clumsy attempt to help I post the following chart, which is my copy of Paulus' last chart ie 28th Jan. It would appear that his times are one hour ahead of mine. It may help for a comparison, until he posts himself.

Best wishes
Attached Image (click to enlarge)
Click to Enlarge Name: 28JanGU.JPG Size: 153 KB
  • #1,210
  • Feb 9, 2011 11:04am Feb 9, 2011 11:04am
EU pending short in place...anyone else?
Attached Image (click to enlarge)
Click to Enlarge Name: eu_m5_short.gif Size: 14 KB
  • #1,211
  • Edited 2:16pm Feb 9, 2011 12:44pm | Edited 2:16pm
Quoting Delite
Oh I see. Sorry!

In a final, clumsy attempt to help I post the following chart, which is my copy of Paulus' last chart ie 28th Jan. It would appear that his times are one hour ahead of mine. It may help for a comparison, until he posts himself.

Best wishes
No thats perfect--i had given up on finding newer paulus charts and had missed that one. i kept seeing his comments only.
the jan 28 gbpusd entry was 15:35 +/- on his chart, which matched up exactly with my chart at 14:35 which meant 8:35 am EST. In other words, he is Boston +7 and my Alpari is Boston +6.
I also know that Fri Jan 28 AT 8:30 est was US GDP and Pers Consumption econ releases and he took the 1-2-3 short 5 min after the release, so he doesnt worry about economic release skewed numbers setting up his entry break of low point 2.
All I needed. Also interesting is the same bar creating the 3 lower high was the entrymove that also broke below the 2 low.
Also, tomd, i tried replying but not sure it went thru, but either way its resolved now. Thanks everyone.
  • #1,212
  • Feb 9, 2011 2:37pm Feb 9, 2011 2:37pm
Quoting Olarion1975
EU pending short in place...anyone else?
...and triggered. Let's see how far it goes. I will close it anyway with the close of NY session as Paulus does (22 GMT).
Attached Image (click to enlarge)
Click to Enlarge Name: eu_m5_short.gif Size: 17 KB
  • #1,213
  • Edited 3:22pm Feb 9, 2011 3:09pm | Edited 3:22pm
Nice strategy!

I've been trading a Fibonacci breakout strategy, too!
The advantage is that one can measure how far a move may go. Fibonaccis can be used to measure strength / weakness, too. For example when price fails to reach the target -> momentum is loosing steam!

I'd like to follow this thread a bit. 123 strategy looks easy, but I would like to be in before the breakout!

I got my strategy from a member called Bobokus. He got a subscription trading room which I was a member for a month.
http://www.forexfactory.com/showthread.php?t=50767

His Fibonacci-Tool is cute, it has to be pulled from up to down, always. It is much like yours =)

The problem it has a poor risk/reward ratio provided by the breakout - trigger.

Attached File(s)
File Type: tpl bob.tpl   1 KB | 300 downloads


Good luck!!!
  • #1,214
  • Edited 3:34pm Feb 9, 2011 3:20pm | Edited 3:34pm
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 123 KB
  • #1,215
  • Feb 10, 2011 4:12am Feb 10, 2011 4:12am
A 2B trade on GU...nicely in profit so far...
Attached Image (click to enlarge)
Click to Enlarge Name: eu_m5_long_2b.gif Size: 14 KB
  • #1,216
  • Feb 10, 2011 4:17am Feb 10, 2011 4:17am
And a EU 123 long trade...struggling a little ATM...
Attached Image (click to enlarge)
Click to Enlarge Name: eu_m5_long_123.gif Size: 13 KB
  • #1,217
  • Feb 10, 2011 10:30am Feb 10, 2011 10:30am
Another beautiful 123 setup...+48 pips profit
Attached Image (click to enlarge)
Click to Enlarge Name: eu_m5_long_123.jpg Size: 65 KB
  • #1,218
  • Feb 10, 2011 10:41am Feb 10, 2011 10:41am
Quoting Olarion1975
Another beautiful 123 setup...+48 pips profit

Kicking myself, because I missed that! Still watching EU crawling like a snail!
  • #1,219
  • Feb 11, 2011 7:39am Feb 11, 2011 7:39am
And another nice 123 long trade...+15 pips profit so far
Attached Image (click to enlarge)
Click to Enlarge Name: gu_m5_long_123.jpg Size: 68 KB
  • #1,220
  • Feb 11, 2011 8:26am Feb 11, 2011 8:26am
Quoting Olarion1975
And another nice 123 long trade...+15 pips profit so far
so your stops are the dist 1-2 not 2-3 or clearly you'd have been stopped out on the first retrace.
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