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Trading is as simple as 1-2-3

  • #1,641
  • Edited 5:09pm Dec 8, 2016 4:41pm | Edited 5:09pm
Quoting TooSlow
{quote} Actually, 1-2-3 trades are SAFER than HOLO trades. You are trading the H1 bar after a new daily high/low has been made. Later bars are NOT valid 1-2-3 trades. Either that bar makes a new daily high/low or it reverses. That fourth highest bar is NOT a 1-2-3 trade. It is a HOLO. Lem, you're mixing methods.
Oh - Good Grief...I was just reading this through again and saw what I'd done...so sorry, this is what happens when you are trying to cross-post! (Or to be more exact, trying to do this while following a complicated movie plot!). I will go in and edit that...what an idiot!
  • #1,642
  • Dec 9, 2016 3:36am Dec 9, 2016 3:36am
Attached Image (click to enlarge)
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A Friday trade on the GJ ran about 18 pips.
  • #1,643
  • Dec 9, 2016 7:11am Dec 9, 2016 7:11am
Been running Oil (USOIL) as a HOLO and a Diff-HOLO c/w BRENT for a while now with very good results. Don't know why I haven't mentioned it before but it is also a very, very, good supplier of solid 1-2-3 trades.

Now, you have to take your broker's spread into account, as on oil, this varies hugely from broker to broker - and in fact some brokers don't carry oil at all. You also have to factor in that the market is open 23 hrs - even less for Diffs.

Here's a look at the chart going back a couple of screens and a zoom in of up-to-date. (Ignore the HOLO lines, I just grabbed the chart as an example).

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  • #1,644
  • Dec 9, 2016 7:52am Dec 9, 2016 7:52am
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow.png Size: 45 KB


Waiting
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,645
  • Dec 9, 2016 8:13am Dec 9, 2016 8:13am
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow1.png Size: 47 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,646
  • Edited 2:34am Dec 12, 2016 2:21am | Edited 2:34am
Attached Image (click to enlarge)
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  • #1,647
  • Dec 12, 2016 4:58am Dec 12, 2016 4:58am
Attached Image (click to enlarge)
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Here's a loss I took on the AUD this morning, -9.5. I have been looking for a way to screen out these moves. It initially went up about 5 pips then headed back down to trigger my trade so that looked OK. It was only able to muster about 2 pips. I try to avoid freight trains and this one did not seem to have that look. But losses happen, part of the game.
  • #1,648
  • Dec 12, 2016 5:52pm Dec 12, 2016 5:52pm
Quoting hal7
{image} Here's a loss I took on the AUD this morning, -9.5. I have been looking for a way to screen out these moves. It initially went up about 5 pips then headed back down to trigger my trade so that looked OK. It was only able to muster about 2 pips. I try to avoid freight trains and this one did not seem to have that look. But losses happen, part of the game.
I'm always a bit more cautious of those set-ups that appear after a period of consolidation. I know price could still appear to be rising due to the higher lows but look at the open and close points on the earlier bars - swapping back and forward. Plus at this point we're as near as dammit halfway between the last day's H and L. So, I would rather wait till it gets up there towards the top end and sure enough when it does, we get the drop. It doesn't turn all the way but it drops enough to get us a good bag.

You can see on the pair I chose, that yes, again I had to wait a bit but it did get there in the end. Along the way, I took two small gains, one small stop-out and the big banker drop, which I'm still trailing...

Attached Image (click to enlarge)
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I've left that fib in to mark the point the last chart was at when posted earlier.
  • #1,649
  • Dec 13, 2016 2:54am Dec 13, 2016 2:54am
Thanks Lem your posts are always educational.
  • #1,650
  • Dec 13, 2016 3:24am Dec 13, 2016 3:24am
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  • #1,651
  • Dec 13, 2016 3:51am Dec 13, 2016 3:51am
Dayuummm...missed this cracker!

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  • #1,652
  • Dec 13, 2016 7:36am Dec 13, 2016 7:36am
Could be setting up...
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  • #1,653
  • Dec 13, 2016 7:38am Dec 13, 2016 7:38am
Finally blew...and quite nicely, too...
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  • #1,654
  • Dec 13, 2016 7:40am Dec 13, 2016 7:40am
Good grief - just to rub it in...
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  • #1,655
  • Dec 13, 2016 7:42am Dec 13, 2016 7:42am
After me saying how good it was...

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  • #1,656
  • Dec 13, 2016 8:21am Dec 13, 2016 8:21am
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  • #1,657
  • Dec 13, 2016 10:42am Dec 13, 2016 10:42am
"good grief" JUST RUB IT IN" lol how I feel just knowing you @ LEM
  • #1,658
  • Dec 13, 2016 11:17am Dec 13, 2016 11:17am
Got one on EU
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  • #1,659
  • Dec 13, 2016 1:21pm Dec 13, 2016 1:21pm
Quoting BrokeCollege
Got one on EU {image}
Good stuff - which one did you actually go in on? The big later one or the smaller earlier one that would make you sweat?

Those small ones that don't get there - remember to not let them knock you back or onto another pair, as so often the small wait brings the goodies on the next move as here.
  • #1,660
  • Dec 13, 2016 1:29pm Dec 13, 2016 1:29pm
Quoting lemercenaire
{quote} Good stuff - which one did you actually go in on? The big later one or the smaller earlier one that would make you sweat? Those small ones that don't get there - remember to not let them knock you back or onto another pair, as so often the small wait brings the goodies on the next move as here.
I traded it on the m30... look at it. You will see the yummy setup
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