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Trading is as simple as 1-2-3

  • #1,921
  • Jan 5, 2017 7:23pm Jan 5, 2017 7:23pm
Quoting lemercenaire
Update: I had hoped to get to bed at a somewhat reasonable hour tonight...I guess not, as we ain't done yet folks... EU @ +19...UJ @ +50
EU @ +23, UJ @ +64
  • #1,922
  • Jan 5, 2017 7:46pm Jan 5, 2017 7:46pm
EU @ +26, UJ @ +78
  • #1,923
  • Jan 5, 2017 8:25pm Jan 5, 2017 8:25pm
Quoting courier12
LM, fantastic explanation of entry and trade management. Also, how to use concepts from the Alien Civilization in conjunction with 123. I have visited the Alien civilization and understand wick zone. Quick question - what is dead zone? One last question - why do you use the bar charts for 123 and candlestick charts for HOLO? Thank you, {quote}
Hi courier12. Sorry - a bit late with the reply. Long day, lol.

Anyway, The Dead Zone is a method I run and post over on Billytt's thread. Feel free to drop by and check it out. Any questions after that can be answered over there.

I use bar charts for 1-2-3 as a hold-over from when I was jumping back and forward between 1-2-3 and HOLO originally and it made it easy to tell which chart was which, as I was using the same indicator for both. Now, I feel it keeps things incredibly clean and simple. Absolutely zero distractions, not even any colour outside of green and black. Just price and how it moves. You need nothing else.
  • #1,924
  • Jan 5, 2017 9:15pm Jan 5, 2017 9:15pm
Quoting lemercenaire
EU @ +26, UJ @ +78
Can you show me, where you get in and out ? Thank you.
  • #1,925
  • Jan 5, 2017 10:17pm Jan 5, 2017 10:17pm
Quoting lemercenaire
{quote} Hi courier12. Sorry - a bit late with the reply. Long day, lol. Anyway, The Dead Zone is a method I run and post over on Billytt's thread. Feel free to drop by and check it out. Any questions after that can be answered over there. I use bar charts for 1-2-3 as a hold-over from when I was jumping back and forward between 1-2-3 and HOLO originally and it made it easy to tell which chart was which, as I was using the same indicator for both. Now, I feel it keeps things incredibly clean and simple. Absolutely zero distractions, not even any...
Understood. Thank you LM.

will check the other thread out.

Just one last question based on your earlier post where you mentioned time of day and especially start time of 0000 UK Time (is this 0000 GMT?) vs. 0000 NY time.

From your experience does 0000 UK Time for start of day work better than 0000 NY time? Or it does not matter? Since we are looking at new high and low for the given day, start time is important.

Thank you
  • #1,926
  • Jan 6, 2017 1:28am Jan 6, 2017 1:28am
Quoting lemercenaire
EU @ +26, UJ @ +78
'Morning all. Final standing on the two amigos: I ended up closing out for EU +18 and UJ +67 on total pips available after they both eventually moved on after the retrace of EU +29 L and UJ +90 H.

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  • #1,927
  • Jan 6, 2017 2:14am Jan 6, 2017 2:14am
Quoting courier12
{quote} Understood. Thank you LM. will check the other thread out. Just one last question based on your earlier post where you mentioned time of day and especially start time of 0000 UK Time (is this 0000 GMT?) vs. 0000 NY time. From your experience does 0000 UK Time for start of day work better than 0000 NY time? Or it does not matter? Since we are looking at new high and low for the given day, start time is important. Thank you
Yes, it's midnight (00:00) GMT. We had a number of discussions about this over on HOLO and there are a couple of points to consider. Obviously it will have some kind of effect on where your daily high / low comes, however perhaps not as much as one would expect. Trade what is in front of you. Bear in mind that TooSlow is based in the US, as is Hal, wannalearn and others, while I am in the UK and we seem to match up well enough.

It seems to be more of an issue at times for those in the Southern Hemisphere, as liquidity is lower outside of the immediate opening period, however this can still be dealt with if you wish. If you want to match up to the UK day, the way to do it is to open a demo account with a UK broker and put your indicators / template on there and base your trading decisions on that demo, while physically placing your trades on your home, live, broker. Numbers might be slightly different between brokers but nothing drastic. The one sticking point with this approach is that I am not sure how easy it is for those US-based traders to open any kind of account outside the US now.

As far as ''does it matter'' goes? Well, as I said - TooSlow seems to do alright! I do just fine. So, I'd say no. I'm sure TooSlow would back me up on this.
  • #1,928
  • Jan 6, 2017 2:18am Jan 6, 2017 2:18am
Quoting 9fxnan
{quote} Can you show me, where you get in and out ? Thank you.
On those two particular trades?

If so, entry is as per the rules. On the posted charts above, you can clearly see the trade entry points for both. Exit is more flexible and as mentioned elsewhere through the thread - including a couple of days ago by both myself and Hal - is more by personal preference.
  • #1,929
  • Jan 6, 2017 2:30am Jan 6, 2017 2:30am
Off again!

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  • #1,930
  • Jan 6, 2017 5:20am Jan 6, 2017 5:20am
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Won't be around for NFP today. And it's probably not the brightest idea to be trading ahead of it. But being addicted I was playing around on the EG. Stopped on the first trade, second got +5, and currently at around +10 on the third entry.
  • #1,931
  • Jan 6, 2017 5:44am Jan 6, 2017 5:44am
Quoting hal7
{image} Won't be around for NFP today. And it's probably not the brightest idea to be trading ahead of it. But being addicted I was playing around on the EG. Stopped on the first trade, second got +5, and currently at around +10 on the third entry.
Great example of how 1-2-3 requires and then repays patience and discipline.
  • #1,932
  • Jan 6, 2017 6:08am Jan 6, 2017 6:08am
Hi guys,
Read,read and re-read. Soaking it in. Thanks again.

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  • #1,933
  • Jan 6, 2017 6:10am Jan 6, 2017 6:10am
Quoting lemercenaire
Off again! {image} {image}
Out on both.
UJ +35 on a max of +49
EU +15 on a max of +24

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That's me done for the day - have to go out and it's Friday afternoon and it's all red from here...Stay safe out there.
  • #1,934
  • Jan 6, 2017 6:59am Jan 6, 2017 6:59am
Awesome trading Lem. I am out for the weekend.
  • #1,935
  • Jan 6, 2017 7:08am Jan 6, 2017 7:08am
EURJPY stopped out at at +18.
Hal7, thanks for showing those EURGBP trades. Interesting to see the sequence of events when it doesn't go so smooth.
  • #1,936
  • Jan 6, 2017 7:52am Jan 6, 2017 7:52am
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Waiting
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,937
  • Jan 6, 2017 9:37am Jan 6, 2017 9:37am
Attached Image (click to enlarge)
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Wait for setup.
Wait for price to get to trigger.
PULL THE TRIGGER!
That's all there is to do except count your money.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,938
  • Jan 6, 2017 11:21am Jan 6, 2017 11:21am
Quoting thirdpillar
EURJPY stopped out at at +18. Hal7, thanks for showing those EURGBP trades. Interesting to see the sequence of events when it doesn't go so smooth.
Well done, thirdpillar.

One thing, if I may. It's a particular bug-bear of mine but I do feel it's important for a trader. You say you were ''stopped out'' at +18. I would suggest that you start to say that ie, you ''closed out'' at +18 etc. It's subtle but important psychologically. By saying (and thinking) ''stopped out'', there is a suggestion of failure - whereas if you ''closed'' out, then that was by design. One negative, one positive. Do you see what I mean?

I have said this before, when traders would complain that they ''only'' got +1 or +5 and missed out on a bigger move...and asked them what they would rather be, a winner of one, or a loser of 15 (because they held a trade too long and it reversed)? You know the answers that came back once they had a time to think it through.

Always plant positive thoughts and energy into your trading - banish all negativity. Like attracts like.

Well done again.
  • #1,939
  • Jan 6, 2017 11:55am Jan 6, 2017 11:55am
Took the USD/CAD trade and closed it for +22.6 PIPS.
I could've let it run or trail stop it, but decided it's nice profit for my first trade using this methodology.
Regards
  • #1,940
  • Jan 6, 2017 1:10pm Jan 6, 2017 1:10pm
Quoting dttsomh
Took the USD/CAD trade and closed it for +22.6 PIPS. I could've let it run or trail stop it, but decided it's nice profit for my first trade using this methodology. Regards
Nicely done - welcome to the club!
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