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Trading is as simple as 1-2-3

  • #2,321
  • Feb 14, 2017 4:06am Feb 14, 2017 4:06am
Last hour potentials were au +11, eu +17, ej +18, gu +2, gj +1, cf +15, ca +16, eg +4. Definitely would have wanted to steer clear of the GU pairs with that news.
  • #2,322
  • Feb 14, 2017 6:04am Feb 14, 2017 6:04am
Attached Image (click to enlarge)
Click to Enlarge Name: ej 123 2-14-17.png Size: 14 KB

Currently in this EJ long from last hour +8 profit locked.
  • #2,323
  • Feb 14, 2017 9:38am Feb 14, 2017 9:38am
Quoting hal7
ej 123 2-14-17.png;2186343 Currently in this EJ long from last hour +8 profit locked. {image}
EJ's definitely been the place to be today, whatever the method.
  • #2,324
  • Feb 14, 2017 10:30am Feb 14, 2017 10:30am
Attached Image (click to enlarge)
Click to Enlarge Name: chf 123 2-14-17.png Size: 13 KB

This CHF turned out nicely also this past hour, profit locked.
  • #2,325
  • Feb 14, 2017 10:34am Feb 14, 2017 10:34am
Quoting hal7
chf 123 2-14-17.png;2186759 This CHF turned out nicely also this past hour, profit locked. {image}
hal7, have we created a monster?
You seem to be cleaning up.
Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,326
  • Feb 14, 2017 10:50am Feb 14, 2017 10:50am
Quoting TooSlow
{quote} hal7, have we created a monster? You seem to be cleaning up. Cheers!
A Pip-Munching-Crunching-Guzzling-machine!
  • #2,327
  • Feb 14, 2017 10:52am Feb 14, 2017 10:52am
Quoting TooSlow
{quote} hal7, have we created a monster? You seem to be cleaning up. Cheers!
I think he's been practicing that kick!
  • #2,328
  • Feb 14, 2017 11:03am Feb 14, 2017 11:03am
Focus and repetition seems to work pretty well.
  • #2,329
  • Feb 14, 2017 11:53am Feb 14, 2017 11:53am
Quoting hal7
Focus and repetition seems to work pretty well.
Please explain, in your own words, how to trade 1-2-3.
Thank you.
Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,330
  • Feb 14, 2017 12:09pm Feb 14, 2017 12:09pm
Attached Image (click to enlarge)
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,331
  • Feb 14, 2017 12:26pm Feb 14, 2017 12:26pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,332
  • Feb 14, 2017 12:46pm Feb 14, 2017 12:46pm
Quoting TooSlow
{quote} Please explain, in your own words, how to trade 1-2-3. Thank you. Cheers!
I will give it a go when I have a few minutes to put down some observations, off and running now. Cheers
  • #2,333
  • Feb 14, 2017 3:39pm Feb 14, 2017 3:39pm
Attached Image (click to enlarge)
Click to Enlarge Name: chf 123 2-14-17 long.png Size: 15 KB


This is not how I always trade 1-2-3, just an idea. There are many ways to approach it I find. The arrow at the top is the trade I posted above earlier. You can see where it is now.

I come into trading 1-2-3 everyday at the same time. That is around 3:20 am EST when I get up. Blurry eyed I look at the charts and plan my first trade for 4:00 am, that is one hour into London for me. Why sleep. The arrow you see on the bottom would have been that first trade on the CHF. I did not take this trade, but it if I did it would have been what I call my home run trade.

It qualified because it did not make a new low on that bar, just fractionally missed. My stop would be about 3 pips below the previous bar low. And in this particular instance it turned out to be the low of the day. Of course we never know when that will be I would have just have been in the right place at the right time this day.

In this approach I never move my stop, it just stays there. As the day progressed it got as much as +54. And I would close out pretty much randomly somewhere near there in the afternoon. Not rocket science and some might say not a good way to trade it. That is OK, because everyone must find what works for themselves. but not altering the core principles. I use several different methods with 1-2-3 and I am still a work in progress.

The key thing to remember about 1-2-3 is the rules are not ambiguous. Did the previous bar make a new lo or hi? Did the current bar fail to breech that? Trade when you cross the open of the current bar. It can't get much simpler than than, there is no judgement involved. Now yes you can also pass on the trade and I often do. More on that later.
  • #2,334
  • Feb 14, 2017 8:46pm Feb 14, 2017 8:46pm
Quoting hal7
chf 123 2-14-17 long.png;2186994 This is not how I always trade 1-2-3, just an idea. There are many ways to approach it I find. The arrow at the top is the trade I posted above earlier. You can see where it is now. I come into trading 1-2-3 everyday at the same time. That is around 3:20 am EST when I get up. Blurry eyed I look at the charts and plan my first trade for 4:00 am, that is one hour into London for me. Why sleep. The arrow you see on the bottom would have been that first trade on the CHF. I did not take this trade, but it if I did it...
Thank you.
Your post may make it easier for others to understand.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,335
  • Feb 14, 2017 11:16pm Feb 14, 2017 11:16pm
Quoting hal7
chf 123 2-14-17 long.png;2186994 This is not how I always trade 1-2-3, just an idea. There are many ways to approach it I find. The arrow at the top is the trade I posted above earlier. You can see where it is now. I come into trading 1-2-3 everyday at the same time. That is around 3:20 am EST when I get up. Blurry eyed I look at the charts and plan my first trade for 4:00 am, that is one hour into London for me. Why sleep. The arrow you see on the bottom would have been that first trade on the CHF. I did not take this trade, but it if I did it...
Thank you Hal, very helpful. Appreciate you putting it together. Would love to hear the cases where you skip the setup. Thank you!
  • #2,336
  • Feb 15, 2017 3:22am Feb 15, 2017 3:22am
Attached Image (click to enlarge)
Click to Enlarge Name: ca 123 2-15-17.png Size: 15 KB

I'm in this CAD long and have locked profit at +5. Technically this trade did not qualify by rules because it did not move lower to test the low before moving up. However I won't give the trade back at this point. May be short lived because the markets are somewhat choppy ahead of a lot of news later. But profit is locked at 80% and my stop in this case is at BE.

This is the way I have been trading 1-2-3 lately aside from the home run approach I showed yesterday. I will answer how I decide to take or not take a trade later courier12 later after trading session.
  • #2,337
  • Feb 15, 2017 3:57am Feb 15, 2017 3:57am
first of all, im not good with words ,but i give it a shot. please correct me if im wrong. 123 and HOLO compliments each others. I see them as subsets to OHLC.
1) mark open usually my open is day open
2) mark yesterday high and low , this is my general SL. 
3) buy above day open
4) sell below day open
5) mark current HOLO, these are areas of interest for reversals. it may be or not. wait for trigger. usually TP near open day
6) profit lock by 10 pips
7) if SL being hit, move on , next setup please
 
123 and HOLO, allowed me to refocus. no need to figure out what will happen next. enjoy the now moment. i cant trade history anyway
 
 
 
  • #2,338
  • Feb 15, 2017 4:13am Feb 15, 2017 4:13am
My CAD trade is +11 so have switched from BE to a +10 trailer. Last hour potential trades had AU +5, EU 0, JY +6, CF 0, CA +12, EG +17 for a total of 40.
  • #2,339
  • Feb 15, 2017 4:41am Feb 15, 2017 4:41am
merah678, Too Slow generally describes 1-2-3 as a subset of HOLO. It looks like you have set the trading parameters as a day trade off the open of the day. 1-2-3 if you look at the rules posted at the beginning is a trade based off the close of each hour by the previous hour bar setting a new high or low. The trade decisions are always based off that set up. Price tends to trade to that open price but it is not a format rule. Hope that gives some perspective. Cheers.
  • #2,340
  • Feb 15, 2017 5:08am Feb 15, 2017 5:08am
Attached Image (click to enlarge)
Click to Enlarge Name: eg 123 2-15-17.png Size: 14 KB

I did take this EG short and again stretched the rules a bit as it probably made a new high by a fraction disqualifying it. However I liked the sharp movement down and the stop was very small so took it. Got profit at +5 it went +20 but has since come back the other way. My stop is now BE.
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