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Trading is as simple as 1-2-3

  • #3,381
  • May 3, 2017 5:18am May 3, 2017 5:18am
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Long CF +5 profit locked
  • #3,382
  • May 3, 2017 5:38am May 3, 2017 5:38am
Quoting hal7
{quote} Hi Stechi, No I am still in this EG at about +2. I take the bulk of my trade off usually around +5 as my target, in this case +7. Then I either bring my stop to Break Even and let the trade run its course. Sometimes I do not move the stop and take a loss on the remainder but usually remain in profit for the trade. With this latter strategy I have been able to pull some very big moves. You need to experiment with the style you want to take on managing profit and stop loss. The fundamentals of the method meaning set ups and entries never changes....
Thanks for your answer. Sorry i think tooslow answered my question already. He said in a post. "as early as you can move your stop to breakeven you should do so.
  • #3,383
  • May 3, 2017 6:46am May 3, 2017 6:46am
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Long NZ +5 profit locked
  • #3,384
  • May 3, 2017 7:08am May 3, 2017 7:08am
Quoting stechi
{quote} Im still in this trade. I dont moved my stopp yet. You were stopped out +7? Hello everyone. I like your method tooslow. Its good for beginners like me. Ive read half of the thread since i have a question : The entry rules are crystal clear. But as i understand the exit is left to everyone. Its seems to me that the most important thing is to protect wins and not look for huge ralleys. so you better go out with 2 or 5 pips instead of taking a loss?
Protecting your money is the name of the game.
Exiting trades with a profit is the objective.
Pips add up.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,385
  • May 3, 2017 9:30am May 3, 2017 9:30am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,386
  • May 3, 2017 9:42am May 3, 2017 9:42am
Quoting hal7
{image} Long NZ +5 profit locked
did you get take the first Trigger at 10gmt to open entry at 11gmt?
  • #3,387
  • May 3, 2017 9:49am May 3, 2017 9:49am
This method requires a lot screen time isnt it? Firstly you have to watch every for entries and then you have to manage the trades carefully. If may ask how long are your screen time per day
  • #3,388
  • May 3, 2017 3:19pm May 3, 2017 3:19pm
Quoting stechi
This method requires a lot screen time isnt it? Firstly you have to watch every for entries and then you have to manage the trades carefully. If may ask how long are your screen time per day
There are indis which will give you an alert when a new high or low is made. Use them if you need to.
  • #3,389
  • May 3, 2017 3:34pm May 3, 2017 3:34pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,390
  • May 3, 2017 3:35pm May 3, 2017 3:35pm
Quoting stechi
This method requires a lot screen time isnt it? Firstly you have to watch every for entries and then you have to manage the trades carefully. If may ask how long are your screen time per day
Either you are trading or you are not.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,391
  • May 4, 2017 3:11am May 4, 2017 3:11am
GBP/USD: Big push down at FO got in on the bounce after LO. Locked in some profit and now the rest at +30 with trailing stop.
Attached Image (click to enlarge)
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Quoting stechi
This method requires a lot screen time isnt it? Firstly you have to watch every for entries and then you have to manage the trades carefully. If may ask how long are your screen time per day
Not as much as you might think. Does not require much time to go through the pairs you trade to see if they have made a new high/low in that hour. Write down those that have. Go through your checks at the turn of the hour and then place the trades you want following the rules. Trade management.....again not that difficult. We tend to lock some profit @ +5/+7 and then move stop to BE (I do BE+1 to cover commision/spread) then let the rest run. You can then always set up a trailing stop and then thats job done....move on.
  • #3,392
  • May 4, 2017 3:27am May 4, 2017 3:27am
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Took this EG short and managed to snag +5
  • #3,393
  • May 4, 2017 3:32am May 4, 2017 3:32am
Quoting Pent56
GBP/USD: Big push down at FO got in on the bounce after LO. Locked in some profit and now the rest at +30 with trailing stop. {image} {quote} Not as much as you might think. Does not require much time to go through the pairs you trade to see if they have made a new high/low in that hour. Write down those that have. Go through your checks at the turn of the hour and then place the trades you want following the rules. Trade management.....again not that difficult. We tend to lock some profit @ +5/+7 and then move stop to BE (I do BE+1 to cover commision/spread)...
Good assessment of the method. It is as hard as you want to make it in terms of screen time. From other methods I have used it is less taxing because you focus on the main principle and don't have to constantly monitoring various indicators. This allows for watching multiple pairs easier I find.
  • #3,394
  • May 4, 2017 4:14am May 4, 2017 4:14am
USD/CAD is back to behaving well again after the freight train a couple of days ago. Could be a potential 1-2-3 next hour or a HOLO trade to watch out for.

Attached Image (click to enlarge)
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  • #3,395
  • May 4, 2017 5:38am May 4, 2017 5:38am
Quoting Pent56
USD/CAD is back to behaving well again after the freight train a couple of days ago. Could be a potential 1-2-3 next hour or a HOLO trade to watch out for. {image}
Was stalking this one - jumped in quick as it had already started the bounce of the BRN 1.37000.
Attached Image (click to enlarge)
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  • #3,396
  • May 4, 2017 5:40am May 4, 2017 5:40am
Attached Image (click to enlarge)
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Short GU +5 profit locked
  • #3,397
  • May 4, 2017 5:47am May 4, 2017 5:47am
Quoting hal7
{image} Short GU +5 profit locked
Nice I am in that trade from the last hour....got in a bit soon but was expecting bit of a retrace around this area (looking left and the BRN 129.000). Missed adding to this hour as I was over on U/C. Nevermind got profit locked now anyhow
  • #3,398
  • May 4, 2017 6:05am May 4, 2017 6:05am
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH1as1-2-3May4th17.png Size: 26 KB
  • #3,399
  • May 4, 2017 6:07am May 4, 2017 6:07am
Caution advised re UC now, as big red approaching 13.30 uk time for USD + CAD.
  • #3,400
  • May 4, 2017 6:26am May 4, 2017 6:26am
Missed this one but thought it would make for good info. Perfect a set-up as you could get (other than maybe not taking anything USD+ at the moment). The important part is to notice how price bounces off the 23.6 fib-level. Mmmm...wonder how many pips that would be at that point ...

Attached Image (click to enlarge)
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Also, yes - I do realise that there would have been an entry set-up on the previous candle.
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