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merlin Jun 27, 2004 7:03pm | Post# 1

AMAZING Strategy!!!
 
i finally found the amazing scalping strategy i have been looking for all my life!!!!

EuroRiddle v1.0 (99.9% accuracy):

> you make 1 trade per day on the EURUSD

> your "day" ends at 4:59EST and starts at 5pm EST

> use 60 minute chart with the MACD and RSI on the chart

> each day at 5pm EST you start watching the chart. it may take hours and hours of watching the chart, but keep watching until the high or low for the day has been hit.

> as soon as the daily high or low has been hit on the 60 minute charts, switch to your 1 minute charts. if the daily high or low has also been hit on the 1 minute chart, the signal is confirmed.

> after the signal is confirmed enter the trade immediately. if it is the high for the day that has been hit, go short. if it is the daily low that has been hit, go long.

> set stop loss of 15 pips and a profit target of 25 pips.

enjoy!

slick 60 Jun 27, 2004 7:43pm | Post# 2

Serious stuff.
 
i finally found the amazing scalping strategy i have been looking for all my life!!!!

EuroRiddle v1.0 (99.9% accuracy):

> you make 1 trade per day on the EURUSD

> your "day" ends at 4:59EST and starts at 5pm EST

> use 60 minute chart with the MACD and RSI on the chart

> each day at 5pm EST you start watching the chart. it may take hours and hours of watching the chart, but keep watching until the high or low for the day has been hit.

> as soon as the daily high or low has been hit on the 60 minute charts, switch to your 1 minute charts. if the daily high or low has also been hit on the 1 minute chart, the signal is confirmed.

> after the signal is confirmed enter the trade immediately. if it is the high for the day that has been hit, go short. if it is the daily low that has been hit, go long.

> set stop loss of 15 pips and a profit target of 25 pips.

enjoy!
How much sleep should I lose for this baby?
Merlin, Merlin
slick 60

doclouis Jun 27, 2004 8:49pm | Post# 3

what am i missing?
 
Do I need to use leaded or unleaded fuel on this baby?

merlin Jun 27, 2004 9:38pm | Post# 4

How much sleep should I lose for this baby?
Merlin, Merlin
slick 60
well, it has a 99.9% win ratio so if you need to stay up all night it should be worth it

Cpisani4 Jun 27, 2004 9:47pm | Post# 5

Where do we find this strategy? Or did you just make it up?

Have any snapshots of your back testing?

Thanks!
Chris

i finally found the amazing scalping strategy i have been looking for all my life!!!!

EuroRiddle v1.0 (99.9% accuracy):

> you make 1 trade per day on the EURUSD

> your "day" ends at 4:59EST and starts at 5pm EST

> use 60 minute chart with the MACD and RSI on the chart

> each day at 5pm EST you start watching the chart. it may take hours and hours of watching the chart, but keep watching until the high or low for the day has been hit.

> as soon as the daily high or low has been hit on the 60 minute charts, switch to your 1 minute charts. if the daily high or low has also been hit on the 1 minute chart, the signal is confirmed.

> after the signal is confirmed enter the trade immediately. if it is the high for the day that has been hit, go short. if it is the daily low that has been hit, go long.

> set stop loss of 15 pips and a profit target of 25 pips.

enjoy!

merlin Jun 27, 2004 10:03pm | Post# 6

just use this strategy for one night and you will see what i mean!

vdeluca Jun 27, 2004 10:53pm | Post# 7

I am afraid I don't understand the explanation of this strategy. If your "day" starts at 5 pm ET, then by definition the first bid/ask that trades at 5 pm constitutes the high/low of the day. Every move after that will make either a new high or a new low -- how else can one determine whether it is the high or low of the day? Also, if we are looking for DAILY high/low, what difference does it make if we are on the 1 hour chart or the 1 minute chart? On either chart the price will be the same, if it's the high/low of the day it also will be the high/low of the hour and the minute. Also, you mentioned putting the MACD and RSI on the chart, but you did not explain what we are supposed to be looking for with these oscillators. What are you up to Merlin?

Lou Jun 27, 2004 11:10pm | Post# 8

Hmmmm.......
 
I think this is the Sleep Deprivation/ Mental Confusion Strategy

LOU

Talia Jun 28, 2004 1:06am | Post# 9

10 people died in a plane crash on the border of the US and
Canada. Where did they bury the survivors?

slick 60 Jun 28, 2004 1:54am | Post# 10

Very Bored!
 
I am afraid I don't understand the explanation of this strategy. If your "day" starts at 5 pm ET, then by definition the first bid/ask that trades at 5 pm constitutes the high/low of the day. Every move after that will make either a new high or a new low -- how else can one determine whether it is the high or low of the day? Also, if we are looking for DAILY high/low, what difference does it make if we are on the 1 hour chart or the 1 minute chart? On either chart the price will be the same, if it's the high/low of the day it also will be the high/low of the hour and the minute. Also, you mentioned putting the MACD and RSI on the chart, but you did not explain what we are supposed to be looking for with these oscillators. What are you up to Merlin?
Merlin like so many others that I know are very bored with the range trading that is going on at present so he is playing silly bugger. But what I don't understand is why is he the only one allowed an "avatar". I mean this really sets him apart.
slick 60

merlin Jun 28, 2004 3:44am | Post# 11

I am afraid I don't understand the explanation of this strategy. If your "day" starts at 5 pm ET, then by definition the first bid/ask that trades at 5 pm constitutes the high/low of the day. Every move after that will make either a new high or a new low -- how else can one determine whether it is the high or low of the day? Also, if we are looking for DAILY high/low, what difference does it make if we are on the 1 hour chart or the 1 minute chart? On either chart the price will be the same, if it's the high/low of the day it also will be the high/low of the hour and the minute. Also, you mentioned putting the MACD and RSI on the chart, but you did not explain what we are supposed to be looking for with these oscillators. What are you up to Merlin?
vdeluca, you caught all three of them....you win the prize

mangala Nov 18, 2004 11:04pm | Post# 12

What's the use of MACD and RSI
 
Hi Merlin,

I was wondering why you mentioned MACD and RSI as you did not explain how to use it in the rules mentioned (or maybe I did not get it).

Thanks,
Mangala

marejp Nov 19, 2004 1:08am | Post# 13

If you don't put the MACD and RSI on your chart the brokers will never know where the high or low for the day are suppose to be on their charts

merlin Nov 19, 2004 1:36am | Post# 14

If you don't put the MACD and RSI on your chart the brokers will never know where the high or low for the day are suppose to be on their charts
smart man!

Alex Nov 19, 2004 4:38pm | Post# 15

hmm
 
If you don't put the MACD and RSI on your chart the brokers will never know where the high or low for the day are suppose to be on their charts
I really don`t understand what did you said...


Second thing.Merlin,nice joke...tell us another one.

WayneBeTradin Nov 20, 2004 3:17am | Post# 16

Hi Merlin,

I was wondering why you mentioned MACD and RSI as you did not explain how to use it in the rules mentioned (or maybe I did not get it).

Thanks,
Mangala
I think this here is a riddle folks, not any kinda system. See at the top of Merlins post there it says "Euroriddle".

fijitrader Nov 21, 2004 9:45pm | Post# 17

i finally found the amazing scalping strategy i have been looking for all my life!!!!

> set stop loss of 15 pips and a profit target of 25 pips.

enjoy!
The system works fabulously Merlin. The one mistake you made that is so obvious I'm really surprised you missed it is that you don't need any stop loss. Once the low or high of the day has been hit there is zero chance of a loss greater than your spread if you close before the day is over.

Also a refinement I came up with makes this system infinitely more profitable. Just use the exact same method for exit that is used for entry. If you enter at the high then exit at the low. If you enter at the low then just exit at the high. Duh!! This method backtests about 1500 percent more profitable even allowing for slippage.

You only thought it is the perfect system. Now it truly is the perfect system .. no pips are lost at all!!!!

The only thing you left out is the method you've been using to determine how I can know when the high or the low of the day has been hit. Someone else said every move is the new high or low of the day but that is far from true. It may be the high/low of the day so far, or it may be an inside move, but if the day begins at 5 and ends at 4:59 the high and low of the day are the extremes within that period. Now post that high/low determination method you use with this system and we're off -- trading our whole account every day. I've tried a few things but had limited success so far.

In my excitement I got kinda stupid thinking I had the answer and when I called the newspaper to negotiate a special deal where I'd get them to bump me up in the queue and deliver the next days news a day earlier and they just laughed at me. How embarrassing. Turns out it would take two days for them to deliver it here in Fiji so it still wouldn't work. Anyway please send me your indicator or whatever it is before I come up with any more dumbass ideas and embarass myself like that again.

FT

PS. In a stroke of what I first thought was, well just general brilliance, I also tried setting the computer clock a day ahead to fool the computer into thinking it was tomorrow but it didin't work because now I was trading tomorrows data and still didn't have an indicator to determine the high or the low of tomorrow except by 4:59 when it was too late to place the trade. So I figured maybe I should set it a day behind but that didn't work either because I couldn't change the date on the dealing station to work on yesterdays data along with my charts. I called the MM to see if they would change the date on my dealing station so I could trade with yesterdays data because I already had a formula for getting the high and low of yesterday and the guy said it sounded like a great idea and the line just went dead after that. I'm not sure he took me seriously though because he didn't even ask for my account number. Hard to soar with eagles when you have to rely on rats to get anything done.

boost Nov 22, 2004 3:42am | Post# 18

Hi merlin




Did you backtest your system?

Cg985 Nov 23, 2004 12:22am | Post# 19

Interesting
 
Interesting Merlin. Does your strategy have promise on other currency pairs?

Happy trading!

firedave Nov 23, 2004 6:54am | Post# 20

wow !
 
Interesting Merlin. Does your strategy have promise on other currency pairs?

Happy trading!
This strategy apperantly works on any pair, CableRiddle, SwissyRiddle, YenRiddle

Norbecker Nov 23, 2004 12:59pm | Post# 21

This strategy apperantly works on any pair, CableRiddle, SwissyRiddle, YenRiddle
Maybe you could post the results on your web site???

I saw this post in June and have used Merlins system exclusively. Since then I have retired to my own carribean island.

PS: Thanks Merlin, you really are the magic man.

merlin Nov 23, 2004 3:47pm | Post# 22

The system works fabulously Merlin. The one mistake you made that is so obvious I'm really surprised you missed it is that you don't need any stop loss. Once the low or high of the day has been hit there is zero chance of a loss greater than your spread if you close before the day is over.

Also a refinement I came up with makes this system infinitely more profitable. Just use the exact same method for exit that is used for entry. If you enter at the high then exit at the low. If you enter at the low then just exit at the high. Duh!! This method backtests about 1500 percent more profitable even allowing for slippage.

You only thought it is the perfect system. Now it truly is the perfect system .. no pips are lost at all!!!!

The only thing you left out is the method you've been using to determine how I can know when the high or the low of the day has been hit. Someone else said every move is the new high or low of the day but that is far from true. It may be the high/low of the day so far, or it may be an inside move, but if the day begins at 5 and ends at 4:59 the high and low of the day are the extremes within that period. Now post that high/low determination method you use with this system and we're off -- trading our whole account every day. I've tried a few things but had limited success so far.

In my excitement I got kinda stupid thinking I had the answer and when I called the newspaper to negotiate a special deal where I'd get them to bump me up in the queue and deliver the next days news a day earlier and they just laughed at me. How embarrassing. Turns out it would take two days for them to deliver it here in Fiji so it still wouldn't work. Anyway please send me your indicator or whatever it is before I come up with any more dumbass ideas and embarass myself like that again.

FT

PS. In a stroke of what I first thought was, well just general brilliance, I also tried setting the computer clock a day ahead to fool the computer into thinking it was tomorrow but it didin't work because now I was trading tomorrows data and still didn't have an indicator to determine the high or the low of tomorrow except by 4:59 when it was too late to place the trade. So I figured maybe I should set it a day behind but that didn't work either because I couldn't change the date on the dealing station to work on yesterdays data along with my charts. I called the MM to see if they would change the date on my dealing station so I could trade with yesterdays data because I already had a formula for getting the high and low of yesterday and the guy said it sounded like a great idea and the line just went dead after that. I'm not sure he took me seriously though because he didn't even ask for my account number. Hard to soar with eagles when you have to rely on rats to get anything done.
fijitrader i always knew you had your act together!

merlin Nov 23, 2004 3:48pm | Post# 23

This strategy apperantly works on any pair, CableRiddle, SwissyRiddle, YenRiddle
no sorry firedave, it doesnt work on the YenRiddle cause the damn government keeps manipulating the currency!!!

Lou Nov 23, 2004 4:14pm | Post# 24

Back to the Future or the Reverse
 
Remember: In just 2 days, tomorrow becomes yesterday.


Lou

Frick Nov 23, 2004 6:38pm | Post# 25

**strategy That's Working**
 
I have finally coome up with a winning strategy. I live in the EST time zone so I usually turn in around 10:00PM. By about 2:00AM I have a need to use the facility. So, when I wake I take a quick look under the covers. If it's up I buy long and if's down I go short.

I know it sounds crazy but it's working. I wish there was a way to backtest but I can't figure how that would be possible.

Oh, I should mention that any extra curricular activities throws the model off by two days. Haven't figured how to adjust for that anomaly

mangala Nov 24, 2004 11:50am | Post# 26

Merlin Discovers the Holy Grail!
 
Hallelujah Merlin Discovers the Holy Grail!

Now that Merlin has discovered the Holy Grail for currency trading and Marejp has brilliantly discribed the theory behind it, we should thank the Lord and nominate these two brilliant yet humble individuals for the Noble Price or Presidential or Congressional or some recognition for their great contribution to humanity.

Maybe we should create a special award or scholarship for Traders and name it in their honor.

I plan on petiotioning big shots, including President George W. Bush and Pope John Paul, in order to honor Merlin (and Marejp) for the discovery of the century, possibly the greatest discovery leading to the betterment of the human race. Too bad Mother Teresa and Lady Diana are dead, otherwise they would never hesitate to oblige my requeat to honor Merlin. I will also try to Contact Saddam Hussain. I am not sure if the Butcher of Bagdad would be in a position to assist, as he is in precarious situation right now.

If anybody else contributed towards the discovery or the refinement of the Holy Grail and was not recognised for it, please contact the leader of the free world, Predient George W. Bush (Jr.).

Once again, I would like to express my sincere appreciation on behalf of all poor folks like me, to Merlin ( and Marejp) for their hard work and dedication to help others and their ability to think beyond the box to come with solutions that was thought never possible.

May I remind, as Merlin said, that this does not work on JPY because the Japanese government constantly intervenes in order to maintain their policy of lower Yen because their heavily dependent on exports.


Thank you and God Bless!

Mangala

mangala Nov 24, 2004 1:24pm | Post# 27

Please note I tend to make spelling mistakes, as you can see in my reply to threads.

Any way, English is my second language and I wish was born in a country where English is the second language. That should not be an excuse for me making mistakes.

Peace,
Mangala

mangala Nov 24, 2004 1:26pm | Post# 28

Oops, I made a mistake again. I meant to say I wish I was born in a country where English was the first language.

mariovides Nov 24, 2004 8:53pm | Post# 29

Higs and Lows
 
Could anyone help me telling me exactly how to know when the highest high and the lowest low of the day was achieved.
Do you determine it using MACD with RSI in conjuntion or how do you do it?
Thanks in advance
mariovides

boost Nov 25, 2004 5:15am | Post# 30

Hallelujah Merlin Discovers the Holy Grail!
How could you determine the high and low of todays!
I could 't belive that anyone can that!
If I could be determine something like that I could grow up my acount 1000 to 100.000 in a month!

marejp Nov 25, 2004 7:36am | Post# 31

How could you determine the high and low of todays!
I could 't belive that anyone can that!
If I could be determine something like that I could grow up my acount 1000 to 100.000 in a month!
I believe it is possible, but it is a subconscious thing. Before Iíve started to use the 5Min4X system I had the amazing ability to buy at the high point and sell at the low , I've blown my account in less than a month. Unfortunately Iíve lost that capability now.

boost Nov 25, 2004 1:50pm | Post# 32

Wating for answer of MERLIN

linuxtroll Nov 28, 2004 2:36pm | Post# 33

Just use WMA 3,13,39 and MACD 3,13,3...

fijitrader Nov 28, 2004 7:28pm | Post# 34

Could anyone help me telling me exactly how to know when the highest high and the lowest low of the day was achieved.
Do you determine it using MACD with RSI in conjuntion or how do you do it?
Thanks in advance
mariovides
Once the clock rings 4:59 (eastern time) then just look at an intraday chart where the high and the low were achieved for the day, place your cursor on the candle of the high or the low, and read the time of the candle. That will tell you exactly the time the highest high and/or the lowest low was achieved. The shorter the time frame (5 minute, 1 minute, tick) the more accurately you'll know when the highest high and the lowest low was achieved.

FT

mariovides Nov 29, 2004 3:29pm | Post# 35

clown's gifts
 
I have a proposal, let us abandon the Forex and let us put a circus, there is several that have clown's gifts, then if we will become millionaire, ja ja ja, the one that doesn't laugh is cousin of Fidel Castro.

regards.
Mario Vides.

artov Mar 12, 2009 11:37pm | Post# 36

Let me take this thread out of the grave. Is anyone aware of if Merlin was using this still lately? All the other posters have not been in FF for at least 2 years.

opie999 Mar 12, 2009 11:53pm | Post# 37

It's a joke, art. Re-read the first post and give it some thought.

Verto Mar 12, 2009 11:56pm | Post# 38

Pure Genius.

Antra Mar 13, 2009 12:01am | Post# 39

Naughty Merlin's wicked sense of humour!!!! lol

billbss Mar 13, 2009 12:46am | Post# 40

Let me take this thread out of the grave. Is anyone aware of if Merlin was using this still lately? All the other posters have not been in FF for at least 2 years.
They've made their fortune with this system and retired.

I've worked on this method and have simplified it, without losing any of the profits.

At 23:59 GMT, place a "sell" order at tomorrow's high. At the same time pace a "buy" order at tomorrow's low.


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