Trading is as simple as 1-2-3 | Page 189 | Forex Factory

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Trading is as simple as 1-2-3

  • #3,761
  • May 24, 2017 4:22am May 24, 2017 4:22am
Able to catch this the following hour.
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  • #3,762
  • May 24, 2017 4:23am May 24, 2017 4:23am
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EJ looked like it was heading north last hour. Didn't get in that one but took it short here and locked +5, now +11.
  • #3,763
  • May 24, 2017 4:32am May 24, 2017 4:32am
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Took this CF long locked +5. I was actually in this trade long from last hour on a HOLO, so I felt pretty good about its chances here on 1-2-3 as that trade had finally cleared also.
  • #3,764
  • May 24, 2017 4:33am May 24, 2017 4:33am
Quoting hal7
{image} EJ looked like it was heading north last hour. Didn't get in that one but took it short here and locked +5, now +11.
Nice!
any specific reason why you didn't get in previous hour?
besides it looking like it was going north? Also I can't see how you find it going north?
  • #3,765
  • May 24, 2017 4:47am May 24, 2017 4:47am
Quoting faatkumo
{quote} Nice! any specific reason why you didn't get in previous hour? besides it looking like it was going north? Also I can't see how you find it going north?
Because it's hard to get into multiple trades at anytime and I usually just pick one, my best "guess" sometimes two or if it develops later in the hour. Not sure why you can't see the direction. It had made a new low broke the open briskly heading in the long direction, that is north. It got about +16 that hour. In reality if you look at the EJ had been pretty rangy this day and that is good news usually for this method.
  • #3,766
  • May 24, 2017 5:36am May 24, 2017 5:36am
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I thought I would throw this screen up for those who like to see losses. I had quite a sparring match with the GU this morning. I trade 1-2-3 on a couple of different platforms at times.

In this case I took the GU short right out of the box this morning but I was a bit late and though it did get +5 from breaking that open for me it was a loss, because that is all it got. Then I decided to kind of revenge trade which is always a bad idea. I went short again. It took out my stop. And then to add insult to injury came down through the open and got like +12 on that hour. I have looked at those types of trades quite a bit as I think Lem has. They shoot up to a new high then come falling back down for a nice profit often.

Finally I took the third trade and got some of it back to ease some of the pain.
  • #3,767
  • May 24, 2017 6:27am May 24, 2017 6:27am
Lucked into this one - just so happened to be the chart that was open as I turned my head

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  • #3,768
  • May 24, 2017 6:28am May 24, 2017 6:28am
Maybe one to keep an eye on. Check out the respect for the fib-level...

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  • #3,769
  • May 24, 2017 6:38am May 24, 2017 6:38am
Quoting faatkumo
{quote} Okay i see. I mean my charts is all i use 1-2-3 to enter, possibly H4 to confirm no freight train to the best of my knowledge, and sweetspots to mark a better SL level. i don't want to over analyze, but is there something else i may need to assist me with this process? I see shades of support and demand and don't know if thats something i should utilize.
I like fibs (especially dropping down from higher time-frames. They work because traders think they work, so a self-fulfilling prophecy) and I have got to like supply and demand zones more and more recently. They are unobtrusive indicators that are just there in the background. I wouldn't just stick any indicator on a chart and jump right in, do some legwork and research what they actually mean and how they work for you as a trader.

I should say again, you do not need them to run 1-2-3. My base charts are all naked. A lot of those posted here are kind of for educational purposes, so I will add info to help in understanding.
  • #3,770
  • May 24, 2017 7:05am May 24, 2017 7:05am
UC SL
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Wow! I've got some experience to gain.
  • #3,771
  • May 24, 2017 7:30am May 24, 2017 7:30am
Quoting Lawnman
UC SL {image}
You got caught out by a Dead-Cat-Bounce.

Be cautious of these moves that happen around halfway between the High and Low of the previous major move.
  • #3,772
  • May 24, 2017 7:32am May 24, 2017 7:32am
While I am trading I often read away from the screen. Some of my best trades complete while I am away I find. I am currently reading "Grit The Power of Passion and Perseverance" by Angela Duckworth.

It is a NYT Bestseller and I am about halfway through. Not that impressed so far.

However I thought this was a fun topic: She talks about a guy named Will Shortz who entered Indiana University and was allowed to create his own major. He is the only person in the world who to hold a college degree in Enigmatology -- the study of puzzles.

I thought about that and figured many Forex traders could probably hold a Masters degree in Enigmatology
  • #3,773
  • May 24, 2017 7:36am May 24, 2017 7:36am
Still in my EU trade long +20 switched to a 10 trailer.
  • #3,774
  • May 24, 2017 7:41am May 24, 2017 7:41am
Quoting lemercenaire
{quote} You got caught out by a Dead-Cat-Bounce. Be cautious of these moves that happen around halfway between the High and Low of the previous major move.
Dead cat bounce I like that to me it looked like it had run into an area of structure
Wow! I've got some experience to gain.
  • #3,775
  • May 24, 2017 8:09am May 24, 2017 8:09am
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I got stopped on on my trailer on the EU at +10 so decided to take it the other way and locked up +5
  • #3,776
  • May 24, 2017 8:12am May 24, 2017 8:12am
Quoting faatkumo
{quote} The H4 looked fine to me. Anyone have thoughts on why the loser? {image}
Why?
You can't win them all, that's why!
LOL
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,777
  • May 24, 2017 8:30am May 24, 2017 8:30am
Quoting TooSlow
{quote} Why? You can't win them all, that's why! LOL
Wait a minute! I win them all!!!

Well, OK maybe more than I lose, yeah.
  • #3,778
  • May 24, 2017 8:56am May 24, 2017 8:56am
Red news on CAD and USD on the horizon - be aware, folks!
  • #3,779
  • May 24, 2017 9:07am May 24, 2017 9:07am
Yep, red news'll do it every time, lol...

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  • #3,780
  • May 24, 2017 9:42am May 24, 2017 9:42am
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I generally like these types that make big moves toward that low and move back up. GJ +8
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