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Trading is as simple as 1-2-3

  • #3,521
  • May 11, 2017 4:05pm May 11, 2017 4:05pm
Quoting faatkumo
{quote} What other conditions? I feel like now there are other things that must be considered
It's all just part of the layering process. As has been said before - you can run 1-2-3 at its most basic and it will do just great. I did it that way for long enough when I was starting out with it.

Other conditions? Well, turn this on its head and set yourself some homework. What conditions would effect this method? Which of those conditions - if any - could you have some sort of control over? Which would cause you to drop an otherwise good-looking set-up?

Post up what you come up with.
  • #3,522
  • May 11, 2017 4:16pm May 11, 2017 4:16pm
Quoting faatkumo
{quote} What other conditions? I feel like now there are other things that must be considered
Thinking like that is heading in the wrong direction.

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,523
  • May 11, 2017 4:31pm May 11, 2017 4:31pm
I'll try to be as simple as possible.
Heck i feel like i should meditate right before i start searching for set-ups.
lol
  • #3,524
  • May 11, 2017 4:52pm May 11, 2017 4:52pm
Quoting faatkumo
{quote} What other conditions? I feel like now there are other things that must be considered
You have to figure that out on your own faatkumo. TooSlow nailed it. I can't tell you and when this, do this. Now make sure you don't do this when you see that. And the more you overthink those rules the more you will have problems. Follow the basic rules and make lots of trades and log lots of time. You will surpass anything I can tell you.
  • #3,525
  • May 11, 2017 9:44pm May 11, 2017 9:44pm
What is the theory or science behind the 1-2-3 approach?

does anyone have an explanation?


Im very curious as I'm sure others maybe as well.
  • #3,526
  • May 12, 2017 2:05am May 12, 2017 2:05am
Quoting faatkumo
What is the theory or science behind the 1-2-3 approach? does anyone have an explanation? Im very curious as I'm sure others maybe as well.
Post #1, first sentence:

"When price is above an open, it is up. Conversely, when price is below an open, it is down. It is a good idea not to short when price is up and not to buy when price is down. Naturally, most traders look for reversals but are impatient and trigger happy thus buying when they should be selling and vice-versa."
Accept failure as a step towards victory. -Linda B. Raschke
  • #3,527
  • May 12, 2017 2:54am May 12, 2017 2:54am
I think H. Reardens theory also pretty much nails it:

"Now, 2 patterns of market behaviour happen on a regular basis:
1) the price breaks to new high's (or low's)
2) the price reverses from new high's (or low's)

If price is NOT making a new low then it must be reversing from the low."
Accept failure as a step towards victory. -Linda B. Raschke
  • #3,528
  • May 12, 2017 3:12am May 12, 2017 3:12am
Hello,
I think trading is not simple as 1,2,3. To trade will needs a lot of experience, knowledge and patient. If even we use robot we have to oversse it.
The most of traders loose their money exactly for this, so many people think trading is so simple, but it's not true. Trading is hard working, but if by time you will have a working strategy, maybe then somebogy can say, yeah it's easy.

@Profit Learning
  • #3,529
  • May 12, 2017 3:25am May 12, 2017 3:25am
Attached Image (click to enlarge)
Click to Enlarge Name: 51217123ej.png Size: 18 KB

EJ long locked profit +5
  • #3,530
  • May 12, 2017 3:28am May 12, 2017 3:28am
Quoting faatkumo
What is the theory or science behind the 1-2-3 approach? does anyone have an explanation? Im very curious as I'm sure others maybe as well.
It is all explained in the first posts. Read from post one and read all the questions along the way. You cannot expect to jump in and be given a magic key to the kingdom -it doesn't exist. Read and test, then come back with questions on your trades ( chart would be nice) for people to comment upon.
Too many people land on a forum then expect to be given the accumulated wisdom of others trial and error progression in one " magic method" approach.
every Saint has a past. Every Sinner has a Future
  • #3,531
  • May 12, 2017 3:50am May 12, 2017 3:50am
Quoting hal7
{image} EJ long locked profit +5
I took the same setup, but on the GBPUSD. Looking at the EJ and GJ who went up nicely, the GU kept lingering so I took it off at +2.

Obviously, when I come back in a hour it will have rallied back the open as thats how it always goes LOL. But better safe than sorry. HOLO rule #5 applied.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 83 KB
Accept failure as a step towards victory. -Linda B. Raschke
  • #3,532
  • May 12, 2017 3:53am May 12, 2017 3:53am
Attached Image (click to enlarge)
Click to Enlarge Name: 51217123eu.png Size: 17 KB

Finally caught the sister pair EU in the same direction locked profit +8. I actually did a rule bender on this on as I do occasionally. I took the trade after it had broke a new low last hour but moved up through the open price. I have found these do work often.
  • #3,533
  • May 12, 2017 3:57am May 12, 2017 3:57am
Quoting hal7
{image} Finally caught the sister pair EU in the same direction locked profit +8. I actually did a rule bender on this on as I do occasionally. I took the trade after it had broke a new low last hour but moved up through the open price. I have found these do work often.
So going in on the set-up bar, not the usual trigger-bar, right? I've been tracking these off-and-on since you mentioned them a while back and there's definitely something there.
  • #3,534
  • May 12, 2017 4:03am May 12, 2017 4:03am
Last hour was unique in that all 10 of the pairs I track were in play with hi's or lo's. 7 of the 10 made at least 5 pips profit. One of those that failed fell short by 1 pip. the 7 or 10 ratio seems consistent from what I have seen. The best performer the GJ which usually moves more than the others got 17.
  • #3,535
  • May 12, 2017 4:06am May 12, 2017 4:06am
Quoting lemercenaire
{quote} So going in on the set-up bar, not the usual trigger-bar, right? I've been tracking these off-and-on since you mentioned them a while back and there's definitely something there.
Yeah Lem I have not studied it closely but from time to time watch it and take the trade. TooSlow acknowledged it a few days back and seemed OK with that. But again it is not a by rules trade, so off the beaten path.
  • #3,536
  • May 12, 2017 4:06am May 12, 2017 4:06am
Quoting hal7
Last hour was unique in that all 10 of the pairs I track were in play with hi's or lo's. 7 of the 10 made at least 5 pips profit. One of those that failed fell short by 1 pip. the 7 or 10 ratio seems consistent from what I have seen. The best performer the GJ which usually moves more than the others got 17.
Jeez - I just thought of something...how good would this be on The Weird Bunch!!!

I've only ever looked at it on ''normal'' fx pairs but...oh boy...
  • #3,537
  • May 12, 2017 4:14am May 12, 2017 4:14am
One of the price movement patterns I like is when the pair makes that significant move toward that high or low and then shoots back through the trigger direction. They of course are not 100% but they are telegraphing often. Yet I see so many that move just a fraction of a pip and come back through to make nice profits and sometimes big runs so I try not to lock into one pattern and miss out on some nice trades. Avoiding the trains and reading the flow as best one can simply seems a a matter of screen time where you become part of the price action. Waxing philosophical today, it's Friday time to wind it down.
  • #3,538
  • May 12, 2017 5:16am May 12, 2017 5:16am
[attach]51217123eg.png;2306628[/attach
Oops had posted the wrong chart, here we go shorted the EG locked up +5
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  • #3,539
  • May 12, 2017 5:24am May 12, 2017 5:24am
Attached Image (click to enlarge)
Click to Enlarge Name: 51217123au.png Size: 17 KB

Took this AU short not on the first signal but the second this hour, panned out for +5 profit locked. My earlier EJ trade got to +20 and I put a 10 trailer on it.
  • #3,540
  • May 12, 2017 5:34am May 12, 2017 5:34am
Attached Image (click to enlarge)
Click to Enlarge Name: 51217123gu.png Size: 17 KB

Long the GU +6 profit locked. Friday's can be so challenging. (humor alert)
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