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Trading is as simple as 1-2-3

  • #3,541
  • May 12, 2017 7:46am May 12, 2017 7:46am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,542
  • May 12, 2017 11:01pm May 12, 2017 11:01pm
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.
LM / Hal:

Is the setup bar the H1 bar which makes the HH / LL and then comes back through its own open? (Bend the rules)

And the trigger bar is the next bar immediately following the HH / LL setup bar?

Thank you
  • #3,543
  • May 13, 2017 4:13am May 13, 2017 4:13am
Quoting courier12
{quote} LM / Hal: Is the setup bar the H1 bar which makes the HH / LL and then comes back through its own open? (Bend the rules) And the trigger bar is the next bar immediately following the HH / LL setup bar? Thank you
Hey courier12. Not sure exactly what you are asking in the second part. But yes what I have toyed with is the current 1 hr bar as the set up. It goes back through to make a new high or low in the hour but then comes back through the open again in the current hour. That of course would disqualify it as a trade both in 1-2-3 and HOLO I believe. But I have observed and taken trades like that, that have panned out. And of course some go right back up and lose too. I have also looked at breaching those open point from previous hours as triggers when price is turning. Not sure of any strategy or significance there yet. But it is fun to experiment and spin ideas off the core concepts.
  • #3,544
  • May 13, 2017 5:16am May 13, 2017 5:16am
i love this system,but can anyone of you experience traders tell me the best TP level?
  • #3,545
  • May 13, 2017 7:24am May 13, 2017 7:24am
Quoting courier12
{quote} LM / Hal: Is the setup bar the H1 bar which makes the HH / LL and then comes back through its own open? (Bend the rules) And the trigger bar is the next bar immediately following the HH / LL setup bar? Thank you
Hi Courier12. Yeah, it's my terminology for the method, not necessarily others'.

I call the bar that makes the new H or L the Set-Up Bar and the following bar that fails and gets us in the trade the Trigger-Bar.
  • #3,546
  • May 13, 2017 7:30am May 13, 2017 7:30am
Quoting nozzer
i love this system,but can anyone of you experience traders tell me the best TP level?
Hey there, Nozzer. If you read through the thread, you will see that those of us running 1-2-3 consistently have probably all adopted Hal's technique of taking 80% off at +5 and letting the rest run. However, this is not the way TS originally envisioned it and I would never claim it to be "the best" without telling you to run 1-2-3 yourself and try the various methods of running tp and see what suits YOUR trading mentality best.
  • #3,547
  • May 13, 2017 7:34am May 13, 2017 7:34am
I should add that I have also successfully used fib-levels as tp points in the past and still do especially as a method of trailing a runner and this should be one of the techniques you should trial.
  • #3,548
  • May 13, 2017 9:48am May 13, 2017 9:48am
thanks for the reply,lemercenaire :]
  • #3,549
  • May 13, 2017 11:31am May 13, 2017 11:31am
Quoting hal7
{image} Long the GU +6 profit locked. Friday's can be so challenging. (humor alert)
What makes some of your targets (besides runners ofcourse) 6 or others, normally it's a 5 pip target right?
  • #3,550
  • May 13, 2017 1:05pm May 13, 2017 1:05pm
Quoting lemercenaire
{quote} Hi Courier12. Yeah, it's my terminology for the method, not necessarily others'. I call the bar that makes the new H or L the Set-Up Bar and the following bar that fails and gets us in the trade the Trigger-Bar.
Got it Hal and LM. thank you
  • #3,551
  • May 14, 2017 7:43am May 14, 2017 7:43am
Quoting faatkumo
{quote} What makes some of your targets (besides runners ofcourse) 6 or others, normally it's a 5 pip target right?
I am looking for +5 as my first target and to lock up profit. Sometimes I have alarms set, sometimes not. In those cases I am just visually monitoring along with other things and other systems I use. In those cases I will get to +6 and up to maybe +10 before taking any action on locking profit. Now is this the optimum way to trade, no. Each trader works out for themselves what works best. Some may lock +1, some may be shooting for 20.
  • #3,552
  • May 14, 2017 8:29am May 14, 2017 8:29am
Quoting hal7
{quote} I am looking for +5 as my first target and to lock up profit. Sometimes I have alarms set, sometimes not. In those cases I am just visually monitoring along with other things and other systems I use. In those cases I will get to +6 and up to maybe +10 before taking any action on locking profit. Now is this the optimum way to trade, no. Each trader works out for themselves what works best. Some may lock +1, some may be shooting for 20.
Good to know to be honest.

In my form of trading, when I enter I immediately setup up 10pip SL and 5pip TP.
(Keeping in mind 20%) still open.

sometimes I'm scared i won't be quick enough with the mouse.
  • #3,553
  • May 14, 2017 8:32am May 14, 2017 8:32am
Quoting faatkumo
{quote} Good to know to be honest. In my form of trading, when I enter I immediately setup up 10pip SL and 5pip TP. (Keeping in mind 20%) still open. sometimes I'm scared i won't be quick enough with the mouse.
Practice, practice, practice. You'll get it down pat, no worries.
  • #3,554
  • May 15, 2017 2:32am May 15, 2017 2:32am
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Update from my EU long trade Friday. Stayed in it through the weekend +76. I had put a 20 trailer on it then, still in place.
  • #3,555
  • May 15, 2017 2:50am May 15, 2017 2:50am
Quoting hal7
{image} Update from my EU long trade Friday. Stayed in it through the weekend +76. I had put a 20 trailer on it then, still in place.
Good call, buddy. Price-Action was definitely on your side.
  • #3,556
  • May 15, 2017 3:59am May 15, 2017 3:59am
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Shorted this JY this hour +5 locked.
  • #3,557
  • May 15, 2017 4:31am May 15, 2017 4:31am
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Short the EJ +7 locked.
  • #3,558
  • May 15, 2017 4:47am May 15, 2017 4:47am
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Long EG +5 locked. This is one of those I got in when it had made the new low and took it back through the open it took several hours to pan out
  • #3,559
  • May 15, 2017 5:35am May 15, 2017 5:35am
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My EU trade hit +104, I switched to a 60 trailer.
  • #3,560
  • May 15, 2017 6:50am May 15, 2017 6:50am
AU anyone?

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