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123PatternsV6 revisited

  • #901
  • Nov 3, 2013 7:22am Nov 3, 2013 7:22am
Quoting geomoon
{quote} Common Dee , usually you are the one who slaps on the rest here , beside you already slapped your rest and said WAIT......... Some say you have to lend me that crystal ball that you have and we'll make Voodoo session together...... Cheers
I am not a Fortune Teller, I do not have a crystal ball, sorry, I am a Historian, I use Hindsight to guess where price may go, what has been will come again. The market repeats it´s self over and over again, I just look left and ask myself "where do you think it will go"? "What supports that"? Confluence, Fibs, S&R, MAs etc. Where this becomes difficult is when the market makes a historical high/Low and you have to resort to a purely technical assessment because there is no information to the left!
Cut your Losers short and let your Winners run.
  • #902
  • Nov 3, 2013 11:41pm Nov 3, 2013 11:41pm
Quoting dee50
{quote} I am not a Fortune Teller, I do not have a crystal ball, sorry, I am a Historian, I use Hindsight to guess where price may go, what has been will come again. The market repeats it´s self over and over again, I just look left and ask myself \"where do you think it will go\"? \"What supports that\"? Confluence, Fibs, S&R, MAs etc. Where this becomes difficult is when the market makes a historical high/Low and you have to resort to a purely technical assessment because there is no information to the left!

Yah, I know that I'm just kidding . I don't think that you are historian, because this would mean that history teachers would be leaders in everything in this world including this market, which is for sorry not the case.
the debate that you start between you and your self before every trade for where and when and compiling that logic based on your history or what you trained your eye to see makes that trade good , at the end Good Job Dee !
  • #903
  • Nov 8, 2013 2:47am Nov 8, 2013 2:47am
EU +168 +35. Yesterdays rate decision. Caught the announcement with a bracket limit order, good job too because wow did it drop!! second trade was a fade 123 signaled on the 15 min.
Attached Image (click to enlarge)
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Cut your Losers short and let your Winners run.
  • #904
  • Nov 8, 2013 6:10am Nov 8, 2013 6:10am
EU +43 +20. NFP trade. I am done for the week. Have a good weekend.
Attached Image (click to enlarge)
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Cut your Losers short and let your Winners run.
  • #905
  • Nov 9, 2013 12:40am Nov 9, 2013 12:40am
Not sure what is going on with this last pattern. Should not point #2 be at the low of the candle indicated? Zig-ZagDepth set to 1...
Attached Image (click to enlarge)
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Vincit qui se vincit.
  • #906
  • Nov 9, 2013 8:24am Nov 9, 2013 8:24am
Quoting Pippopotamus
Not sure what is going on with this last pattern. Should not point #2 be at the low of the candle indicated? Zig-ZagDepth set to 1... {image}
Mine works fine, set on 3
Attached Image (click to enlarge)
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Cut your Losers short and let your Winners run.
  • #907
  • Nov 12, 2013 1:35pm Nov 12, 2013 1:35pm
EU +50. So many things confirmed this trade that you could take your pick.
Attached Image (click to enlarge)
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Cut your Losers short and let your Winners run.
  • #908
  • Nov 13, 2013 6:38am Nov 13, 2013 6:38am
Quoting dee50
EU +50. So many things confirmed this trade that you could take your pick. {image}
Dee......You make trading sound like just walk in the park .......... how many years did you trade till you reached this point ?
  • #909
  • Nov 15, 2013 8:03am Nov 15, 2013 8:03am
Quoting dee50
{quote} Here this might help. {image}
Ok, that makes sens, now why did I screwed up this time ? is it greed because I waned more than 15 pips ?
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  • #910
  • Nov 19, 2013 9:03am Nov 19, 2013 9:03am
UJ +40 +20. Pin Bar off support followed by123 Entry
EJ +50 straight forward 123 Entry off support
Attached Image(s) (click to enlarge)
Click to Enlarge Name: UJ +40 +20 19 11.png Size: 35 KB
Click to Enlarge Name: EJ +50 19 11.png Size: 32 KB
Cut your Losers short and let your Winners run.
  • #911
  • Nov 19, 2013 9:16am Nov 19, 2013 9:16am
Quoting geomoon
{quote} Ok, that makes sens, now why did I screwed up this time ? is it greed because I waned more than 15 pips ? {image} {image}

The Pic makes it obvious. You will kick youreself.

Sorry, I went away for a few days, personal stuff.
Attached Image (click to enlarge)
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Cut your Losers short and let your Winners run.
  • #912
  • Nov 19, 2013 11:11pm Nov 19, 2013 11:11pm
Quoting dee50
{quote} The Pic makes it obvious. You will kick youreself. Sorry, I went away for a few days, personal stuff. {image}
Well, I did see that and saw that also you and many others did take many counter trend trades many times, it seems that counter trend targets have always to be small targets and should always have the stop at the breakeven even if a good entry is there...... or just always follow your friend " Trend " and have less headache !

hope that you had some fun while a way
  • #913
  • Nov 20, 2013 1:26am Nov 20, 2013 1:26am
Measured Moves.

For those of you who are not sure where to Take Profits, here is a good article from "No Brainer Trades". Particularly relevant for 123 trades

http://www.nobrainertrades.com/2013/...rst-drive.html
Cut your Losers short and let your Winners run.
  • #914
  • Nov 20, 2013 3:43am Nov 20, 2013 3:43am
EXIT SCENARIOS: realization that your plan is defunct.

Here is some more good advice from "No Brainer Trades. The article is about trade decisions, read it all, but take note of "E - Exit Scenarios".

http://www.nobrainertrades.com/2013/...-decision.html
Cut your Losers short and let your Winners run.
  • #915
  • Nov 25, 2013 2:41am Nov 25, 2013 2:41am
7 version sometimes ceases to draw the graph. How to fix it?
sorry my en
  • #916
  • Dec 1, 2013 4:21am Dec 1, 2013 4:21am
EU. +77 +50 +60 +50 +30 +25 +35 +30
EJ. +60 +60 +55 +7 +25 +50

My trades for the week. Due to the market I had to depend on S&R, 123 and TDI so there are a mix of entry types on the charts, for that reason I have not explained the entries on the charts, but most of the entries were 123 & S&R combinations.

I have found an interesting sessions marker which includes Total pips for each session. I normally trade from 9 - 5 GMT +1 and I found it useful to know how many pips were in each session rather than total daily pips, it helped provide a more realistic expectation of what I could expect to gain each day as a Day Trader. If I was Swing trader then that knowledge would be irrelevant.

To set it up just enter your session start and end times based on your broker times, eg. My broker is GMT +2 so my session times are 10.00 - 18.00.
F8 on the chart and select "show object descriptions" to show the session pips.
When scrolling back you may get some elongated session boxes I found that changing TF and back again easily fixes that, the thread I found the indi on said refresh the chart but that did not work for me.

Enjoy
Attached Image(s) (click to enlarge)
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Attached File(s)
File Type: mq4 Auto_Sessions_v_1.7.mq4   8 KB | 493 downloads
Cut your Losers short and let your Winners run.
  • #917
  • Dec 1, 2013 6:38am Dec 1, 2013 6:38am
Quoting dee50
EU. +77 +50 +60 +50 +30 +25 +35 +30 EJ. +60 +60 +55 +7 +25 +50 My trades for the week. Due to the market I had to depend on S&R, 123 and TDI so there are a mix of entry types on the charts, for that reason I have not explained the entries on the charts, but most of the entries were 123 & S&R combinations. I have found an interesting sessions marker which includes Total pips for each session. I normally trade from 9 - 5 GMT +1 and I found it useful to know how many pips were in each session rather than total daily pips, it helped provide a more realistic...
Please don't take this the wrong way, but do you ever lose?
  • #918
  • Dec 1, 2013 9:34am Dec 1, 2013 9:34am
Quoting focusonmoney
{quote} Please don't take this the wrong way, but do you ever lose?

If you mean do I ever get stopped out for a loss, Rarely, Look at EJ 25th Nov, 1st trade, I closed for only a 7 pip gain this was a counter trend trade and it looked to me like it was reversing back into trend so I closed it. 2nd trade I re-entered following a 123, I targeted the BRN 137.000 which was short term S&R but Stochs went down to OS so I adjusted my TP back to the congestion area just to the left.

Looking at the 2 charts do you see any reason why I would have taken a loss?
Another reason is, I do not over trade, look at the charts, I am averaging 1 trade per day, I have plenty of time to make the decision to trade.

It was not always like this, I used to lose loads and then spend twice the amount of time getting it back, the difference now is I "Never" let a winner turn into a "loser", I have been trading the same pairs with the same method for years and I have learnt to pick my targets and leave it alone unless PA tells me otherwise.

Hope it helps
Cut your Losers short and let your Winners run.
  • #919
  • Dec 1, 2013 10:09am Dec 1, 2013 10:09am
Thanks Dee, have been following this thread for sometime and your teachings are very valuable in the 123 strategy along with other PA and fibs , thanks for sharing
I Have Learned to Take Some Losses to Make Profits
  • #920
  • Dec 3, 2013 9:01am Dec 3, 2013 9:01am
Yesterday EU +50 BPC Entry off a Trendline Break
Today. EU +44 AU +50. Both 123 Entries off Dbl Bottoms with divergence.
Nothing Fancy but it works for me.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu 03 12 +50 +44.png Size: 65 KB
Click to Enlarge Name: au +50 03 12.png Size: 64 KB
Cut your Losers short and let your Winners run.
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