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Currently long EUR/USD. Nr1 1.3428 - Nr2 1.3487 - NR3 1.3464 - Entry: 1.35 -------------------------------------------------------------- The 1-2-3 trading system has been around for a long time. Many traders use it in combination with other indicators. It is IMO one of the very best chart set up patterns you will ever see, and once you train your eyes you will see these set ups all over the place. I use this system only on the Forex and after having tried it with so many different combinations of other indicators etc. I've found a way that suits me best so to allow me to continue daytrading stocks for a living. You could say that I play the 1, 2, 3 trading system in the most pure way..nothing else on the chart. The only other ingredient I found that I needed to add was patience.. & & & I only play the daily chart. My buys and sells are a few times a month. Since I don't have any need for bells and whistles I can use any dinky free chart out there. See link at the bottom. I make no claims of any kind. Just thought I share this way of trading since it has given me great satisfaction. & & & Feel free to post your own experiences with the 1, 2, 3 system if you have any. I mostly play EUR/USD pair cause it's the one I know best and has plenty of moves but isn't as volatile as GBP/USD for example. I suggest that if you are new to Forex trading that you make a real effort to educate yourself. The brokers out there try to make it look real easy and cheap to start trading. Don't fall for that. This stuff takes time to learn. And it will take time to learn about yourself how you respond to the many situations that trading currencies throws at you. I suggest you papertrade for at least six months and when you have shown to yourself that you make more than you lose only then consider it with the proper bankroll. See link at bottom. & & & So what is the 1, 2, 3 trading system? You can play the system both long and short and the entry and exit signals are very clear.  This is a typical 1, 2 , 3 set-up going long - You enter the trade somewhere above the nr 2 point and place a stop-loss just below the nr 3 (the stop you move up accordingly to the price). Here is a chart with both short and long patterns. Notice that when you follow the short pattern you enter short when the price drops past the nr 2 point and the stoploss is set just above the nr 3 point: Easy huh! Theory says that the distance between the nr 2 and nr 3 point is the likely length of the move the stock will make. I find this to be the case more so on the smaller time charts (30/15 Min) for day and swing trades. Since I only trade the Day chart the moves are longer and the theory doesn't hold up as often, and mostly in my favour. There is more to learn about this system and I suggest you educate yourself by reading up on the subject. see links at the bottom. Here is a simple EUR/USD Daily chart. See if you can spot the 1, 2, 3 patterns both long and short. Look for when you would enter and exit. ------------------------------------------------------------- 1, 2, 3 pattern education (there are many more places than the few listed here): trade2win.com currency-forextrading.com forex-strategies-revealed.com & & & Free real time charts: dailyfx.com & & & Learn all you can about Forex. Here is a place to start. Go to the school section: babypips.com & & & Another example:  Good luck to you! | ||||||||||||
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