Magic 5 - five pips only | Page 32 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

There is no Magic Moving Average - You need only one 1,116 replies

Demo contest only - 20 pips TP and 20 pips stop - Any TF 54 replies

I lose 40 pips and win 6 to 10 pips... 17 replies

Need Script/EA can only generate Magic number 5 replies

spread on GBP/JPY @ alpari is 12 pips intead of 7 pips they claimed to be 6 replies

Attachments: Magic 5 - five pips only
Exit Attachments

Magic 5 - five pips only

  • #621
  • Dec 17, 2014 2:23am Dec 17, 2014 2:23am
A very choppy morning at FO & LO...
  • #622
  • Dec 17, 2014 2:25am Dec 17, 2014 2:25am
Quoting haircut
{quote} Hi man top trading. I am finding great entries with this system. I am very interested in your exit strategy. Would you post more details here or if its not to the liking of the thread possibly pm of you have the time.? Thanks
Thanks. My exit involves very much discretion and experience. I have gathered about 5000 hours of screen time in the last 5 years which helps a lot.
As you might have noticed on my chart setup, I use the TMA True bands and the TDI indicator.
For deciding when to exit, every trade is different, there is no fixed rule. I look at the overall trend, higher timeframes, the TMA bands, the TDI indicator, s/r, pivots, round numbers and make my decision where to set TP or exit manually.
Many times I like to exit at "only" 6 pips (=5 net pips) as TK5 laid out in the rules...keep it simple.
Only if I feel the trend is strong and there are no obstacles in the way (like s/r, pivots etc.) I let the trade run more.
  • #623
  • Edited 3:04am Dec 17, 2014 2:49am | Edited 3:04am
First winner in the pocket...
Pair: USD/CAD
Entry: Trend was clearly up (H4 / D1), bounce from daily pivot and TMA's middle line, TDI = green crosses red around 50 Level, market base line (yellow) pointing up
Exit: TMA outer band
Profit: +7.1 pips
Gain: +8.66%

I will try to limit my trades to one trade per hour. No trades between 11:00 GMT (Frankfurt lunch) to 13:00 GMT (NY open)
Attached Image (click to enlarge)
Click to Enlarge Name: 17.12_usdcad.png Size: 35 KB
  • #624
  • Dec 17, 2014 3:06am Dec 17, 2014 3:06am
Quoting Olarion1975
First winner in the pocket... Pair: USD/CAD Entry: Trend was clearly up (H4 / D1), bounce from daily pivot and TMA's middle line, TDI = green crosses red around 50 Level, market base line (yellow) pointing up Exit: TMA outer band Profit: +7.1 pips Gain: +8.66% I will try to limit my trades to one trade per hour. No trades between 11:00 GMT (Frankfurt lunch) to 13:00 GMT (NY open) {image}
Olarion,Would you please share me TDI Indicator , cuz all copies of it didn't work on my platform>>>>
  • #625
  • Dec 17, 2014 3:17am Dec 17, 2014 3:17am
Quoting Olarion1975
First winner in the pocket... Pair: USD/CAD Entry: Trend was clearly up (H4 / D1), bounce from daily pivot and TMA's middle line, TDI = green crosses red around 50 Level, market base line (yellow) pointing up Exit: TMA outer band Profit: +7.1 pips Gain: +8.66% I will try to limit my trades to one trade per hour. No trades between 11:00 GMT (Frankfurt lunch) to 13:00 GMT (NY open) {image}
Olarian i appreciate your input to the thread mate..but note that indicators and other chart stuff you use is not related to this method. hope you understand.
always draw trendlines
  • #626
  • Dec 17, 2014 3:20am Dec 17, 2014 3:20am
Quoting tk5
{quote} Olarian i appreciate your input to the thread mate..but note that indicators and other chart stuff you use is not related to this method. hope you understand.
No problem. Will only share setups/charts according to your method prospectively.
  • #627
  • Dec 17, 2014 4:33am Dec 17, 2014 4:33am
Quoting Olarion1975
{quote} No problem. Will only share setups/charts according to your method prospectively.
Here you go...second winner of the day...NZD/JPY short for 7.5 pips = 9.15% gain.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdjpy.png Size: 16 KB
  • #628
  • Edited 5:31am Dec 17, 2014 4:58am | Edited 5:31am
possible setup short in on AUDUSD next candle
Price crossing 5EMA and under 200EMA, RSI dropping from 70 area



UPDATE: closed the trade on the next green HA candle for 9p lost
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 34 KB
  • #629
  • Dec 17, 2014 5:15am Dec 17, 2014 5:15am
untill US news (CPI, then fomc) to tricky to trade.
always draw trendlines
  • #630
  • Dec 17, 2014 5:32am Dec 17, 2014 5:32am
today trades...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURJPYM15.png Size: 34 KB
Click to Enlarge Name: AUDJPYM15.png Size: 35 KB
Click to Enlarge Name: AUDUSDM15.png Size: 32 KB
Click to Enlarge Name: EURGBPM15.png Size: 33 KB
  • #631
  • Dec 17, 2014 6:12am Dec 17, 2014 6:12am
Hey Olarion1975,
could you please pm me?
I can't send you a message

cheers
  • #632
  • Dec 17, 2014 7:14am Dec 17, 2014 7:14am
Quoting Olarion1975
{quote} Here you go...second winner of the day...NZD/JPY short for 7.5 pips = 9.15% gain. {image}
It seems that you are mastering beautifully the setup discussed here. Well done
MT4/MT5 EAs/Indicators/Alerts coder
  • #633
  • Dec 17, 2014 7:20am Dec 17, 2014 7:20am
Quoting Olarion1975
{quote} Here you go...second winner of the day...NZD/JPY short for 7.5 pips = 9.15% gain. {image}
btw, would share that Pivot Point indicator here.seems that's only proper looking one
always draw trendlines
  • #634
  • Dec 17, 2014 7:50am Dec 17, 2014 7:50am
Quoting tk5
{quote} btw, would share that Pivot Point indicator here.seems that's only proper looking one
Sure, no problem. Here it is. Please adjust the shift hours to match the daily start at 5 pm NY time (close of the session).
For me that time works most accurate and is also widely used by institutional traders.
Attached File(s)
File Type: mq4 Pivot Points - Daily (Shifted) v1.mq4   12 KB | 539 downloads
  • #635
  • Dec 17, 2014 8:00am Dec 17, 2014 8:00am
Quoting FerruFx
{quote} It seems that you are mastering beautifully the setup discussed here. Well done
Thanks. Works quite well. As the "standard" setup works nice I also work on finetuning my entries on the M5 and M1. So the drawdown is even less. Just go with the "flow" of the market waves. After close of the HA candle below/above the 5EMA shifted 2, I look for doing a pullback going in the opposite direction on M5/M1 and then enter on the the 5EMA cross on M1 or M5. Works like a charme.
  • #636
  • Dec 17, 2014 8:14am Dec 17, 2014 8:14am
Quoting Olarion1975
{quote} Thanks. Works quite well. As the "standard" setup works nice I also work on finetuning my entries on the M5 and M1. So the drawdown is even less. Just go with the "flow" of the market waves. After close of the HA candle below/above the 5EMA shifted 2, I look for doing a pullback going in the opposite direction on M5/M1 and then enter on the the 5EMA cross on M1 or M5. Works like a charme.
That's exactly how to achieve a better R:R ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #637
  • Dec 17, 2014 8:18am Dec 17, 2014 8:18am
Quoting Olarion1975
{quote} Thanks. Works quite well. As the "standard" setup works nice I also work on finetuning my entries on the M5 and M1. So the drawdown is even less. Just go with the "flow" of the market waves. After close of the HA candle below/above the 5EMA shifted 2, I look for doing a pullback going in the opposite direction on M5/M1 and then enter on the the 5EMA cross on M1 or M5. Works like a charme.
Very good point Olarion. I try to use Fib Retracement. but I have to keep on guessing either to go with 36% or 50%.
But I think your approach of using M5&M1 is even better. It takes out the guess work.

Can you share your TMA indicator. OR if you don't want to share on this forum, I will PM you my email address.

Thanks.
  • #638
  • Dec 17, 2014 8:21am Dec 17, 2014 8:21am
Quoting Olarion1975
{quote} Thanks. Works quite well. As the "standard" setup works nice I also work on finetuning my entries on the M5 and M1. So the drawdown is even less. Just go with the "flow" of the market waves. After close of the HA candle below/above the 5EMA shifted 2, I look for doing a pullback going in the opposite direction on M5/M1 and then enter on the the 5EMA cross on M1 or M5. Works like a charme.
Can you share any M1-M5 chart showing trade with that style?
  • #639
  • Dec 17, 2014 8:49am Dec 17, 2014 8:49am
nice +55pip...tnx tk5
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM15.png Size: 84 KB
  • #640
  • Dec 17, 2014 5:43pm Dec 17, 2014 5:43pm
Quoting Olarion1975
{quote} Thanks. Works quite well. As the "standard" setup works nice I also work on finetuning my entries on the M5 and M1. So the drawdown is even less. Just go with the "flow" of the market waves. After close of the HA candle below/above the 5EMA shifted 2, I look for doing a pullback going in the opposite direction on M5/M1 and then enter on the the 5EMA cross on M1 or M5. Works like a charme.
Olarion1975 You have explained how to enter the Just 5 trade masterfully. Folks if someone handed you a pile of charts including the 1 5 15 30 60 240min with only the 5ma on them and nothing else you could not tell which time frame they are. That price action. The only difference between how the 1 min crosses the 5ma and how the 15min crosses is by the number of pips each candle represents. After you decide to enter the trade based on the 15 min cross go to the 1 min and try and find a pullback behind/above and wait for the same style of 2 candle cross. That simple change in entry technique will pay for your spread and possibly a whole lot more. Thats price action....no indi can improve on it
1 trader viewing now