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Trading is as simple as 1-2-3

  • #1,481
  • Oct 31, 2016 9:08pm Oct 31, 2016 9:08pm
Quoting hal7
I'm not sure why the GBP went up either, I just care it got to +73 on my particular trade.
Wasn't it rumours about Carney? Or maybe the Tooth Fairy needed some change, who knows these days...
  • #1,482
  • Nov 1, 2016 8:22am Nov 1, 2016 8:22am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,483
  • Nov 1, 2016 9:23am Nov 1, 2016 9:23am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,484
  • Nov 1, 2016 9:33am Nov 1, 2016 9:33am
Hi TooSlow, I have a question regarding the principle of this strategy, why is it only traded when a new hi or low of the day is established?

what i mean is: if the hourly chart is in a strong down up for few bars, the pullback (downward) move will form a high (not a new daily low), if i'm looking to enter in the direction of the established hourly trend, can we wait for the pullback to make a low and fail to make a newer low then enter on the open of current bar when market gets through it? EX: eurJPY: 1hr in a strong up trend, then pull back to 50% fib at support, i will be waiting for the hourly bars to come down to this level and fail to make a new lower low then will enter at the open of the current bar then.

your feedback is greatly appreciated.

thanks
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  • #1,485
  • Nov 1, 2016 10:05am Nov 1, 2016 10:05am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,486
  • Nov 1, 2016 10:08am Nov 1, 2016 10:08am
Quoting hdanial
Hi TooSlow, I have a question regarding the principle of this strategy, why is it only traded when a new hi or low of the day is established? what i mean is: if the hourly chart is in a strong down up for few bars, the pullback (downward) move will form a high (not a new daily low), if i'm looking to enter in the direction of the established hourly trend, can we wait for the pullback to make a low and fail to make a newer low then enter on the open of current bar when market gets through it? EX: eurJPY: 1hr in...
Because that is the setup.
All the rest of the stuff you mention, trend, pullback, etc..., is rubbish, nonsense and BS.
Leave that crap behind.

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,487
  • Nov 1, 2016 2:17pm Nov 1, 2016 2:17pm
Quoting hdanial
Hi TooSlow, I have a question regarding the principle of this strategy, why is it only traded when a new hi or low of the day is established? what i mean is: if the hourly chart is in a strong down up for few bars, the pullback (downward) move will form a high (not a new daily low), if i'm looking to enter in the direction of the established hourly trend, can we wait for the pullback to make a low and fail to make a newer low then enter on the open of current bar when market gets through it? EX: eurJPY: 1hr in a strong up trend, then pull back to...
The best way to think of it is that 1-2-3, being a sub-set of HOLO, is a method that takes advantage of the BreakOut bars that HOLO does not trade - they complement each other.

1-2-3 is a blissfully simple concept that pays off over and over and over again just the way it is - why would you want to mess with that?
  • #1,488
  • Nov 2, 2016 3:17am Nov 2, 2016 3:17am
GBPUSD Looks to be setting up for us...

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  • #1,489
  • Nov 2, 2016 3:43am Nov 2, 2016 3:43am
Hey lemercenaire... I'm watching it. I took EURGBP and got 5 pips stopped out. EURCHF still in stop loss set to +5.
  • #1,490
  • Nov 2, 2016 6:51am Nov 2, 2016 6:51am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,491
  • Nov 2, 2016 6:36pm Nov 2, 2016 6:36pm
Quoting hal7
Hey lemercenaire... I'm watching it. I took EURGBP and got 5 pips stopped out. EURCHF still in stop loss set to +5.
Hi hal7 - hope you got some of it. Wasn't huge but did ok.

Turned out the only other trade I was able to run today (was helping my Uncle move house) was on USDCAD which I originally posted as a potential HOLO but which ended up going into a BreakOut candle and therefore a 1-2-3 for me. Bagged a bit more than the other and made it an ok day out of nothing.

You take it where you can...
  • #1,492
  • Nov 2, 2016 6:43pm Nov 2, 2016 6:43pm
Hello! New member here (started trading last week). I am excited to start learning this method. I see on these charts when the H1 bar makes a big breakout this is the set up for a 1-2-3? Is it OK to trade the cross of the open on the breakout bar?
  • #1,493
  • Nov 2, 2016 7:57pm Nov 2, 2016 7:57pm
Quoting BrokeCollege
Hello! New member here (started trading last week). I am excited to start learning this method. I see on these charts when the H1 bar makes a big breakout this is the set up for a 1-2-3? Is it OK to trade the cross of the open on the breakout bar?
Hi BrokeCollege. Sorry, it's late here and I am having a thick-head moment...I'm not sure I get what you mean by this. You can simplify the rules/process thus:

Bar makes new High...next bar tests that high - fails...enter as price passes back down over this bar's open.

Hope that helps. If that doesn't answer your question, slap me about the head and ask again...
  • #1,494
  • Nov 2, 2016 8:00pm Nov 2, 2016 8:00pm
Quoting BrokeCollege
Hello! New member here (started trading last week). I am excited to start learning this method. I see on these charts when the H1 bar makes a big breakout this is the set up for a 1-2-3? Is it OK to trade the cross of the open on the breakout bar?
Ah, hold on...hold on...are you asking if it is ok to enter as the price retraces back on itself in the original breakout bar? (Past its own open)... If so, then no, it's not.

A second bar has to open and test the high of the breakout bar.
  • #1,495
  • Nov 3, 2016 8:07am Nov 3, 2016 8:07am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,496
  • Nov 3, 2016 8:39am Nov 3, 2016 8:39am
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  • #1,497
  • Nov 3, 2016 11:06am Nov 3, 2016 11:06am
Hello Too Slow,

I continue to follow, study, and apply 1-2-3. Thanks for all you have presented on this approach. I know you have stated your policy on not posting indicators here. I have been trying to track down the 1-2-3 indicator but have not been able to locate one. I am currently using the standard fractal.

You posted your template once and I looked at that but could not see what is was. Any hints as to where or what to look for in tracking that down?

Thx
  • #1,498
  • Nov 3, 2016 11:17am Nov 3, 2016 11:17am
Quoting hal7
Hello Too Slow, I continue to follow, study, and apply 1-2-3. Thanks for all you have presented on this approach. I know you have stated your policy on not posting indicators here. I have been trying to track down the 1-2-3 indicator but have not been able to locate one. I am currently using the standard fractal. You posted your template once and I looked at that but could not see what is was. Any hints as to where or what to look for in tracking that down? Thx
You do not need a 1-2-3 indicator.
You do not need any indicator.
Plotting the current daily high and daily low is all you need.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,499
  • Nov 3, 2016 11:21am Nov 3, 2016 11:21am
Quoting TooSlow
{quote} You do not need a 1-2-3 indicator. You do not need any indicator. Plotting the current daily high and daily low is all you need.
TS, in some ways don't you think it would be better for beginners to plot their own lines on their chosen pair? Adjusting them manually really helped me watch the flow of the pair. Food for thought.
  • #1,500
  • Nov 3, 2016 4:42pm Nov 3, 2016 4:42pm
Quoting wannalearn12
{quote} TS, in some ways don't you think it would be better for beginners to plot their own lines on their chosen pair? Adjusting them manually really helped me watch the flow of the pair. Food for thought.
I'd second that. Really helps - strip everything out, go as naked as it gets.
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