Simple as 1-2-3

forex live trades, setups, charts

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Sandra
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Postby Sandra » Tue Feb 08, 2011 11:48 pm

Nice Trading Dc......

I dont quite get the renko bar thing...but looks like you do!

sandra :)

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tmanbone
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Postby tmanbone » Tue Feb 08, 2011 11:54 pm

This one worked for me. I downloaded the newest version. v3.2

http://www.system-forex.info/2009/09/re ... n-mt4.html

The trick is it's an EA, load it on a 1m chart, then keep the 1m open and open a m2 offline chart to monitor price. After a second look it looks like Chappy has his loaded on a m30 chart and then pulls up the offline M2 to monitor price, so I may be wrong about what timeframe chart to load the EA on.
"The simplicity of the markets is it's greatest disguise"

T

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Postby gfg1 » Wed Feb 09, 2011 12:58 am

noushi, downloaded it from here:

http://www.forexfactory.com/showthread.php?t=189584

Opened a 1 min chart added the EA. By default is goes to a 2 min offline chart you then open.



noushina wrote:Hey DChappy. I've been looking all over for those renko bars. Could you give me a link please?

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Postby Brookmyre » Wed Feb 09, 2011 2:09 am

Hi Chappy,

Just wondered if you had considered using the Traders Trick Entry?

http://www.earnforex.com/forex-e-books/ ... _Entry.pdf

Also, just curious as to the MA setting you decided on...are there different considerations when using Renko Bars?

Cheers
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dchappy
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Postby dchappy » Wed Feb 09, 2011 2:15 am

Hi Guys & Gals :

Thanks for your interest .

Tman : No , I haven't abandoned the sema's ..in fact all the # 1's are semas..

I have been watching 1-2-3's for a few years and also noticed that the macd divergence & the 1-2-3 entries were almost identical .

The problem I have noticed with the line crossing methods that I have used . Is that it is sometimes hard to see when the cross occurs..often they merge together and even bounce away at the last minute ...know what I mean ??.

Anyway ,with the 1-2-3 , price either "breaks " the # 2 point or it does.nt .

Pure price action , based on Elliott Wave structure .


The Renko indy was given to me ,so I can't post it ( sorry) ..but there should be free ones availiable .

Actually you don't need it , time candles work just as well , it's just a preference .

By the way ,,as i said , I'm posting for selfish reasons ..trying to improve my trading and gain insights from others ..

Hopefully this will help others with their journey as well..


Trade Well

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Postby dchappy » Wed Feb 09, 2011 8:44 am

It's funny how we search for the next "new" method .etc ...

Jessie Livermore was trading the 1-2-3 , over 100 yrs . ago ..hehehe....
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noushina
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Postby noushina » Wed Feb 09, 2011 11:46 am

Thanks for the links to the renko guys. That link GF1 posted has 3 current versions. The top1 is script, the second is indicator, and the third is EA. Using the indicator version. Works great. Great now I have another system to keep me fooling around instead of making money :lol:
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That livermore comment doesnt look like the Joe Ross 1-2-3. Looks more like retest and breakout or rejection off SR.

Also I think the Joe Ross trick entry isn't 123 either. I think it basically a pull back.
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Totally off topic - but I noticed the ages of tman, dchappy, and GF, and also TRO and note that we are all in our mid 50s.

Relevant to us all is something I have been meaning to investigate more thoroughly - a self directed Roth IRA. My understanding is that you can day trade, do futures and do forex with it. And with a roth the tax is paid already, and so no more tax on the money made when we can begin to start using it at age 59.

I am assuming that by the time we all reach 59, we will have learned to make $1000 or two each week then it would be handy to not have to pay tax on it.

Google: self directed IRA custodians (or leave the "custodians" off -- but there needs to be a custodian who gives you permission to invest your IRA funds where you want -- there is some issue that this may be a breach of fiduciary duty.)

Sorry for the hijack.
Last edited by noushina on Wed Feb 09, 2011 2:22 pm, edited 1 time in total.

dchappy
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Postby dchappy » Wed Feb 09, 2011 2:15 pm

noushina wrote:Thanks for the links to the renko guys.

That livermore comment doesnt look like the Joe Ross 1-2-3. Looks more like retest and breakout or rejection of SR.

But the Joe Ross trick entry isn't 123 either. I think it is more of a pull back.
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Totally off topic - but I noticed the ages of tman, dchappy, and GF, and also TRO and note that we are all in our mid 50s.

Relevant to us all is something I have been meaning to investigate more thoroughly - a self directed Roth IRA. My understanding is that you can day trade, do futures and do forex with it. And with a roth the tax is paid already, and so no more tax on the money made when we can begin to start using it at age 59.

I am assuming that by the time we all reach 59, we will have learned to make $1000 or two each week then it would be handy to not have to pay tax on it.

Sorry for the hijack.


Yes, but isn't a 1-2-3 , a retest and break out of the #2 ? .

btw .. the literature i have read recommends the distance between #2 and #3 as the target.. it looks like taking 50% to 70% of that figure will increase the win rate considerably .

Thank You for the IRA info ...our time is approaching quickly , is'nt it ?.

(this a.m. was the 1st loss since 1/31..)
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noushina
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Postby noushina » Wed Feb 09, 2011 2:25 pm

"Yes, but isn't a 1-2-3 , a retest and break out of the #2 ?"

Yes, but with the 3 being a higher low if going long (as shown in your examples directly above) -- whereas your livermore trade has 3 = 1.


Also, I edited that previous post of mine slightly.

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Postby lazygeorge » Wed Feb 09, 2011 3:29 pm

hey dchappy

Great thread,i really like simple stuff coz it works :P

Just a few questions regarding what inputs you use for renko??

Also the period of MA you have on your chart?

keep up the good work and it will,like you said,help some of us on
our journey :)

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