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How to use the 123 strategy effectively

  • #1,541
  • May 8, 2012 12:33pm May 8, 2012 12:33pm
We'll see if this develops. I have a sell stop order in place.
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  • #1,542
  • May 8, 2012 12:35pm May 8, 2012 12:35pm
I'd be glad to answer. I trade primarily off of the 15M charts when using this method. I only look at gbpusd, usdcad, eurjpy and occasionally one or two others but those three are my main trading pairs. Eurusd and Gbpusd are pretty similar so I never trade "both" of those at the same time. A win on one will likely result in a win on the other but so would a loss. I like to spread my risk and better my odds.


Quoting lbhales
JDCompute, thanks for posting your trades. Could you comment on the timeframe you like to trade. Do you simply scan a number of pairs at various tf's and then watch for a setup? Do you find certain pairs more susceptible to reversals with this pattern that have enough momentum to be profitable. Thanks for your comments. Lynn
  • #1,543
  • May 8, 2012 12:50pm May 8, 2012 12:50pm
Sell stop order triggered....
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  • #1,544
  • May 9, 2012 7:52am May 9, 2012 7:52am
This is how the previous trade turned out. I was up +15 at one point but didn't set my SL to breakeven. Eventually it got it and I was out of the original short. I reentered on a long position as a trend continuation.
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  • #1,545
  • May 11, 2012 10:18am May 11, 2012 10:18am
Here is my trade from this morning....
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  • #1,546
  • Sep 11, 2012 6:22am Sep 11, 2012 6:22am
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  • #1,547
  • Nov 25, 2012 3:49pm Nov 25, 2012 3:49pm
what currency?, according to you are the best in the system 123 ?
  • #1,548
  • Jan 29, 2013 7:24am Jan 29, 2013 7:24am
Hi poland

The best currency for this trading system is one side blow currency pair like eurjpy.

frank
  • #1,549
  • Jun 13, 2013 8:12am Jun 13, 2013 8:12am
Read through this thread and it is hard to believe it died. This is a great strategy. Paulus has some great stuff in here. Worth reading.

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  • #1,550
  • Jun 13, 2013 10:12am Jun 13, 2013 10:12am
Entry on break of 3. Sorry didn't post. Went to target which was 100% of 1 to 2.
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  • #1,551
  • Jun 13, 2013 10:14am Jun 13, 2013 10:14am
Still in GJ
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  • #1,552
  • Jun 13, 2013 12:25pm Jun 13, 2013 12:25pm
Approaching target.
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  • #1,553
  • Jun 13, 2013 1:07pm Jun 13, 2013 1:07pm
2/3 closed here. A little early but NY session near end. Will let 1/3 run and see what happens.
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  • #1,554
  • Jun 13, 2013 3:53pm Jun 13, 2013 3:53pm
Target 2 hit with remaining 1/3.
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  • #1,555
  • Jun 13, 2013 5:54pm Jun 13, 2013 5:54pm
1,2,3 works on HTF too. Anyone else out there trading 1,2,3 reversals?
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  • #1,556
  • Jun 13, 2013 6:06pm Jun 13, 2013 6:06pm
Quoting Winston Reed
1,2,3 works on HTF too. Anyone else out there trading 1,2,3 reversals? {image}

Yep. Currently short ea, and waiting for a stop and reverse. Hoping to get down to 1.36 if I don't get stopped out.
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FF journal: Peaks and Troffs
  • #1,557
  • Jun 13, 2013 6:08pm Jun 13, 2013 6:08pm
Looking for a set up to short on 15 minute chart on EY as it has hit resistance.
FF journal: Peaks and Troffs
  • #1,558
  • Jun 13, 2013 6:21pm Jun 13, 2013 6:21pm
Hey Bogus. It would be nice to revive this thread. I'm short EA too on a H4 time frame. Watching EJ too.
  • #1,559
  • Jun 13, 2013 6:31pm Jun 13, 2013 6:31pm
Quoting Winston Reed
Hey Bogus. It would be nice to revive this thread. I'm short EA too on a H4 time frame. Watching EJ too.

Cool. Here's a screenshot of my pending short. If 128.12 gets taken out I'll cancel the order.
Green pips to you.
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FF journal: Peaks and Troffs
  • #1,560
  • Jun 13, 2013 7:28pm Jun 13, 2013 7:28pm
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