Trading is as simple as 1-2-3

Quoting TooSlow

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{quote} Yes there is news at the top of the hour.

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Quoting Eve55

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{quote} Hi TooSlow, go into the store even if the breakdown MN1 + W1? It's not too big a risk?

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Quoting lemercenaire

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{quote} Sorry, foed, as I'm a bit late to the party, however as you've asked this question, you must have misunderstood something fundamentally. The question you should have asked is ''why didn't I take that trade?'' The marked (arrow) entry bar has not made a new high after the previous bar which has. This means we have a legitimate set-up and sure enough, price drops back over the trigger bar's open, so in you go. To sum up: Bar makes new High / Low... Next bar fails to make newer High / Low... Enter when price crosses the open level of 2nd bar....

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Quoting foed

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{quote} thank you lemercenaire. But how can I know its not just rotating the price around open price and price won't go to test new high or even make new high? ( i know SL is 1 pip above high, but still ...) I know trading is unsure, but ... I like this system more and more .)

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Quoting foed

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{quote} thank you lemercenaire. But how can I know its not just rotating the price around open price and price won't go to test new high or even make new high? ( i know SL is 1 pip above high, but still ...) I know trading is unsure, but ... I like this system more and more .)

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Quoting lemercenaire

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{quote} You don't know. You just have to get all your ducks in a row and pull the trigger. The grand thing about 1-2-3 is that you have to be prepared to take a couple of small, controlled, losses and trust that the tide will turn in your favour. Take those losses, don't be tempted to let it run just in case and then get in on the next set up. The difference between HOLO and 1-2-3 is that you are more likely to get big hitters and not the BE +1 type trade.

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Quoting TooSlow

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TooSlow.png;2165838 All I can do is point things out. {image}

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Quoting TooSlow

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{quote} No one can know. You enter the trade and take your chances. Trading is unsure. You do understand this, right?

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Quoting WolGod

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{quote} This is your strategy? You've got to be kidding me? So hows it working out? % making per week? drawdown? I thought so. myfxbook? no? thought so. Theres no context other than buying low and selling high. This is as retail as it gets. Must be annoying taking 10 trades, losing 5, getting 1 good one and 4 break evens. Whenever I talk to people who have no idea of trading they always say buy low and sell high. LOL.

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Quoting Rfs199

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{quote} You make too many assumptions. This isn't a strategy. This is a method. Drawdown and "% making per week" are irrelevant because it would depend on your risk management. Nobody is selling anything here. If this method was causing us to lose money we wouldn't even bother commenting here. I don't know why people ask for myfxbook on these threads. It doesn't matter. It never matters. It could be rigged; it could be a random account, it could be a cent account holding losers for too long and only showing winners, and so on. --- "QUOTE of the...

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