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Forex trading strategy #4-a (1-2-3, RSI + MACD)

Submitted by Lino

Hi Edward

I have spent a considerable time studying your strategies and i would like to share with everyone what i have taken and now apply to my trading.

Any currency pair can be traded

Indicators: 5,10,20 EMAs - RSI - MACD

Time frame: I use 15min charts (I find bigger time frames to slow and bigger stops)


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Edward R.

A friend told me about this great site. I have studied and practiced the !, 2,3 method on an Oanda demo , with excellent results .

On a small 300.00 live account , using 100-1 leverage , what Pip value would you suggest ?

Peter

Hi Peter,

On a small $300 account with 100:1 leverage your best (and only correct) option is to go with a pip value of 10 cents or less, which corresponds to trading 0.01 lots or less.

Best regards,
Edward

Hi Edward

Somehow i just don't understand how the 1-2-3 swing works.. i can't predict the next forex graph movement with these "1-2-3" compare if i am using MACD, RSI and other indicators.
It will be better if you can explain a little bit more detail regarding my problem. Thanks

regards
CK

Hi CK,

no problem, here are the basics:

123 swing trading

123 swing trading

Opposite for breakouts to the downside: you will have a high followed by a lower high.

You can also add Fractals indicator to help you see those lows and highs (works best on 1 hour and up).

Let me know if there is more to this question.

Regards,
Edward

I have a question concerning trend. Are you guys using the trend pattern from the daily chart or are you using the trend pattern that's on the chart you are going to apply the 123 method. Sorry, but I am a new trader and just started trading so I wanted to be sure.

Thanks,

Corey

Hi Corey,

123 patterns and trends are found on the same one time frame, the frame you'll be applying 123 method to.

Regards,
Edward

Hi everyone =

Ichimoku has caught my interest. Anyone have any experience with it ?

Paul