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How to use the 123 strategy effectively

  • #1,561
  • Jun 13, 2013 7:40pm Jun 13, 2013 7:40pm
EA long
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FF journal: Peaks and Troffs
  • #1,562
  • Jun 13, 2013 8:05pm Jun 13, 2013 8:05pm
Quoting Winston Reed
{image}

Nice
FF journal: Peaks and Troffs
  • #1,563
  • Jun 13, 2013 8:10pm Jun 13, 2013 8:10pm
Thanks Bogus. Your EJ should have worked out too.
Took profit at 200 and 300 fib.
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  • #1,564
  • Jun 13, 2013 8:15pm Jun 13, 2013 8:15pm
Just an update. I use a 20 pip stop and risk 1% per trade divided into 3 lots with TPs at 45 and 90 pips and leave the last one to run until I get an opposite signal. The thing I like about 123s is there is no guessing. So many traders try to pick a level and say it will change "here". I believe very few can trade that way. I can't successfully. But with 123s I can. Once a break occurs, if it is going to take out my stop, then its not a good trade. I call it "Meat and Potatoes" trading, nothing fancy.
Good luck!
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FF journal: Peaks and Troffs
  • #1,565
  • Jun 13, 2013 8:29pm Jun 13, 2013 8:29pm
For now I'm following Paulus' TP rules by reversing the fib tool and relabeling with 200, 300 etc. 200 is twice 1 to 2 and and 300 is.... etc. I haven't traded 1,2,3 before and I can't understand why. It is so simple. I guess that's why many don't. Too simple to be true.

Many pips to you Bogus and
  • #1,566
  • Jun 13, 2013 8:43pm Jun 13, 2013 8:43pm
Quoting Winston Reed
For now I'm following Paulus' TP rules by reversing the fib tool and relabeling with 200, 300 etc. 200 is twice 1 to 2 and and 300 is.... etc. I haven't traded 1,2,3 before and I can't understand why. It is so simple. I guess that's why many don't. Too simple to be true. Many pips to you Bogus and

Paulus is THE Man. Simple is good. Doesn't mean it's easy I'm always working on psych. For instance I took an early entry on the EA long. It wasn't a 123 but there was a 15 min fractal, I figured it was worth the 1% risk even though I was running into solid resistance. Turns out a 1 hour 123 at 1.3904 would have worked too.
Cheers mate.
FF journal: Peaks and Troffs
  • #1,567
  • Jun 13, 2013 8:52pm Jun 13, 2013 8:52pm
EURJPY 1,2,3 on H1 TF.
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  • #1,568
  • Jun 13, 2013 9:42pm Jun 13, 2013 9:42pm
Pending USDCAD
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  • #1,569
  • Jun 15, 2013 6:59am Jun 15, 2013 6:59am
It is good to see this thread active again.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #1,570
  • Jun 15, 2013 9:55am Jun 15, 2013 9:55am
Yes. Hope to see more posts from 1,2,3 traders!
  • #1,571
  • Jun 17, 2013 8:35am Jun 17, 2013 8:35am
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  • #1,572
  • Jun 18, 2013 6:43am Jun 18, 2013 6:43am
That was a risky one Winston. Looks like it paid off for you though!
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #1,573
  • Jun 18, 2013 6:32pm Jun 18, 2013 6:32pm
AU short
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  • #1,574
  • Jun 19, 2013 5:03am Jun 19, 2013 5:03am
Stopped out and reversed long with TPs on the way. If price doesn't make it to 45 pips and mucks around, I TP some and bring the stop up.
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FF journal: Peaks and Troffs
  • #1,575
  • Jun 19, 2013 7:48am Jun 19, 2013 7:48am
Hi Winston,

Great to see you on board with the 123 system and reviving this superb thread.

How long have you been trading it and what made you choose the 15 minute time frame?

Best regards

Paul
  • #1,576
  • Mar 3, 2014 1:19pm Mar 3, 2014 1:19pm
My 123 setup from Friday.
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  • #1,577
  • Edited 2:19pm Mar 3, 2014 1:22pm | Edited 2:19pm
Morning trade. Update to follow

**Update: Had to run so closed at +30
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  • #1,578
  • Mar 4, 2014 5:12am Mar 4, 2014 5:12am
tradingjedi

Perhaps we can bring this thread alive again.

The problem I have is igindex will not let me export charts!! Trying to see how i can do it.

Currently long on EUR/USD from 13756.8.
T 13769
SL 13742
  • #1,579
  • Mar 4, 2014 5:35am Mar 4, 2014 5:35am
Chart from EUR/USD. IG index charts don't like iMac.

Hit Target.
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Now looking for a short.
  • #1,580
  • Mar 4, 2014 7:08am Mar 4, 2014 7:08am
EUR/USD 1-2-3 in place.

Waiting for the short signal.

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GBP/USD chart messy. 123 not clear to me.
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