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Trading is as simple as 1-2-3

  • #3,861
  • May 26, 2017 4:03am May 26, 2017 4:03am
Potential as a HOLO as well...

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  • #3,862
  • May 26, 2017 4:07am May 26, 2017 4:07am
Quoting lemercenaire
{quote} Remember the G7 meetings have just kicked off (and the USD is red at the US Open) and so any comments coming out of there will move the markets.
Gotcha, maybe good idea to just stay out.
I guess these two should be valid winners then: EURGBP, GBPJPY
only problem is i wasn't* able to get in on a stop entry so i guess technically they're invalid? lol
  • #3,863
  • May 26, 2017 4:08am May 26, 2017 4:08am
Quoting lemercenaire
{quote} Remember the G7 meetings have just kicked off (and the USD is red at the US Open) and so any comments coming out of there will move the markets.
forgot to include image:
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  • #3,864
  • May 26, 2017 4:14am May 26, 2017 4:14am
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Took this EG short and was a riskier trade with the movement in price. It panned out but will probably be short lived. But I have profit. It made no move upward at the outset so really did not qualify as a true 123. I did notice the downward move several bars back however that is why I took it. And sometimes it is just about luck.
  • #3,865
  • May 26, 2017 5:08am May 26, 2017 5:08am
Doing ok...

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  • #3,866
  • May 26, 2017 5:13am May 26, 2017 5:13am
Quoting faatkumo
{quote} Gotcha, maybe good idea to just stay out. I guess these two should be valid winners then: EURGBP, GBPJPY only problem is i wasn't* able to get in on a stop entry so i guess technically they're invalid? lol
It's not even so much ''stay out'', more a case of if you are already in a trade, be very, very, cautious of fast moves against you. However if you are looking to enter, we don't really care why price has moved, just that it has.

I wouldn't look to enter right on the very minute news is due, for instance.
I would have no problems entering once any move has made a go of it (on the retrace of a huge one-bar move, for instance).
I would protect with a rock-hard-stop any trades that were open as news is due.
  • #3,867
  • May 26, 2017 5:25am May 26, 2017 5:25am
Forex Trading is the best way of making money, but if you wanna become successful, you should never take it as simple as 1 2 3. We need to learn a lot to survive in Forex Trading.
  • #3,868
  • May 26, 2017 5:50am May 26, 2017 5:50am
Quoting GodfatherSam
Forex Trading is the best way of making money, but if you wanna become successful, you should never take it as simple as 1 2 3. We need to learn a lot to survive in Forex Trading.
Thank you......Godfather.

The premise behind this thread as I believe I understand it is taking a "simple approach" to forex trading. The concept here is a set up that is simple in nature and not complicated to understand. It is not over-complicated by a multitude of indicators and doo-dads that you see on so many threads. And those indicators and doo-dads change, and change, and change as the thread progresses. Aided by every Tom, Dick, and Mary who comes along to add their twist or take on "improving" the results.

1-2-3 itself is not a panacea for trading success. It is the trader who makes it successful or unsuccessful in how they apply it, learn, and progress, or not. I have done well with it because I had spent a lot of screen time and observed a lot of price action and assembled a rudimentary knowledge of what to look for and what to avoid. Sometimes I am right sometimes I am wrong but on balance, as I say, I have been profitable.

One thing I know for sure is that the method itself will not change, and that is what makes it simple. Trading is assumption of risk, and managing that risk will determine your success of failure. We all have to work through those challenges on our own. Again the word here is simple not easy.
  • #3,869
  • May 26, 2017 5:54am May 26, 2017 5:54am
Off for the long holiday weekend... Leaving my JY long trade open. Have a 60 trailer on it and decided to set a +100 TP, it is currently at +90.
  • #3,870
  • May 26, 2017 5:56am May 26, 2017 5:56am
Good morning. I missed the little UCAD trade At 4AM and said, "you know what? I'm tired" went back to bed. See if I can grab something now.
Wow! I've got some experience to gain.
  • #3,871
  • May 26, 2017 5:58am May 26, 2017 5:58am
Quoting hal7
{quote} Thank you......Godfather. The premise behind this thread as I believe I understand it is taking a "simple approach" to forex trading. The concept here is a set up that is simple in nature and not complicated to understand. It is not over-complicated by a multitude of indicators and doo-dads that you see on so many threads. And those indicators and doo-dads change, and change, and change as the thread progresses. Aided by every Tom, Dick, and Mary who comes along to add their twist or take on "improving" the results. 1-2-3 itself is...
Well said!
Wow! I've got some experience to gain.
  • #3,872
  • May 26, 2017 6:34am May 26, 2017 6:34am
Nothing for me today. Gotta go mow!
Wow! I've got some experience to gain.
  • #3,873
  • May 26, 2017 7:36am May 26, 2017 7:36am
Quoting GodfatherSam
Forex Trading is the best way of making money, but if you wanna become successful, you should never take it as simple as 1 2 3. We need to learn a lot to survive in Forex Trading.
I don't think anyone would argue with you on that one. As I've said many times before - knowledge is power.

However, it is also true that it is human nature to try and over-complicate things because of a disbelief that something that is ''simple'' must not be genuine. Such is life.
  • #3,874
  • May 26, 2017 7:40am May 26, 2017 7:40am
Quoting Lawnman
Nothing for me today. Gotta go mow!
When ya gotta' mow, ya gotta' mow!

Just back from a trip to the great out-of-the-doors myself. Lovely - sunny and very warm. Didn't feel the need to mow anything though
  • #3,875
  • May 26, 2017 7:40am May 26, 2017 7:40am
Quoting hal7
Off for the long holiday weekend... Leaving my JY long trade open. Have a 60 trailer on it and decided to set a +100 TP, it is currently at +90.
Have a good weekend, buddy. Catch you next week.
  • #3,876
  • May 26, 2017 8:11am May 26, 2017 8:11am
Quoting lemercenaire
Doing ok... {image}
Doing better than OK...

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Just escaped the sl on the bounce and only running on the smaller percentage but still going strong and absolutely no complaints from me.

Did great as a HOLO as well.
  • #3,877
  • May 26, 2017 8:12am May 26, 2017 8:12am
Quoting lemercenaire
{quote} It's not even so much ''stay out'', more a case of if you are already in a trade, be very, very, cautious of fast moves against you. However if you are looking to enter, we don't really care why price has moved, just that it has. I wouldn't look to enter right on the very minute news is due, for instance. I would have no problems entering once any move has made a go of it (on the retrace of a huge one-bar move, for instance). I would protect with a rock-hard-stop any trades that were open as news is due.

Okay i see what you mean about the news.
Its seems as it's more of a rapid time so just be careful.

thank you!
  • #3,878
  • May 26, 2017 8:13am May 26, 2017 8:13am
Quoting lemercenaire
{quote} Doing better than OK... {image} Just escaped the sl on the bounce and only running on the smaller percentage but still going strong and absolutely no complaints from me. Did great as a HOLO as well.

Very nice!
  • #3,879
  • May 26, 2017 8:13am May 26, 2017 8:13am
Have a good long weekend y'all!
  • #3,880
  • May 26, 2017 11:18am May 26, 2017 11:18am
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