I'm not sure how well this is gonna work in text. Listen to Hendrix play All Along The Watchtower. Now, your count is 7th fret, 1 2; 5th fret, and a 1 2 3; 3rd fret, 1 2; 5th fret, and a 1 2 3. Then, just repeat that. Play it over and over again until you get bored playing the song. It pretty much (can) go on like that for the whole thing. But, use a pentatonic on the 7th and you can lay down a pretty bitchin' solo, here and there, and nobody will be the wiser. If you want to play it like Bob Dylan, it's actually those same chords - but they're played open. Bm(something), A minor (or an A works just fine) and G. You can cheat the G chord, but you shouldn't learn this. Learning this is a bad idea. If you loop your thumb over the third fret - so that you're fretting the low E with your thumb - then mute the next string by touching it but not touching it hard enough to make it fret or buzz, and then just use your pointer on the third fret on the high E string. Don't learn that. That's a horrible thing to learn.