Magic 100

Yes i'm testing that as well. I'm willing to try different things. I started with 1 min only because i saw people achieving results with lower TF.

A nice 1/4 trade that was displayed life. But here we can only criticise people. But should the better knowers post, I no longer

This is art

back to magic 100 after a long while. though the technique is very simple it can really get frustrating at times. My trades for the day.

Is this a good trade?

My first trade using this strategy is in progress :-)

Long Usdsgd
closed for a lost -13pips

If anybody is interested, I tested this system for 100 straight trades and posted on YouTube.

Okay here's my take on this strategy. Firstly, I added a couple QoL indicators that help with making entries a bit safer.

I'll start with Trading Style. I like to Scalp this even on 1 Hour time frame. I'm usually trading big lots and taking profit in one bar.

The first set of indicators is a medley of MA's to help filter out sideways movement. I know common sense can do most of this work, but if we see MA's fanning out in the same direction then there's no subjectivity - we're in a trend.

Second indicator is a Volume Based indicator that highlights when there's good volume in the market making our scalps a bit more profitable.

The entry method remains the same, however how I exit the trade is where I personally see this strategy shine. There's a concept around exiting trades that essentially works like this : at the close of the candle you entered in, are you in profit? -> if so close trade. if not remain in trade. Your only stop loss will be your maximum amount of capital you're willing to lose per trade. This works better with accurate strategies and shines when scalping specifically. We like to get in and out.

1 HR TF - > Limit order triggers and you're in trade - > Lets say current ATR is 15 -> You're presumption is correct and after 1Hr price has moved 8 pips in your favored direction. Well under ATR, but nonetheless, lets say after spread you're at 6.8 pips profit. -> you exit trade.

That's it, the trade is over. When the new candle is formed you take your 7 pip profit and run.

What if price doesn't go in our favor, well remember, we are in a down trend, and volume is in our favor. So now we have two decisions. We can cut our loss or we can risk whatever our max per loss is.

just a quick note - just make sure your comfortable losing whatever the current ATR (max cap loss) , because price might bounce around during that hour.

So if ATR is 10 and you're only comfortable risking $100, then 1 standard lot should do!

interesting idea to sell the low of the bar and scalp it. i am naturally a scalper and mostly trading GU.

could you give some more chartexamples of your trades? thx.

Its genius in it's simplicity. We over complicate trading sometimes. Price is either going to go up or down (stating the obvious) and if we have a good entry and good management we should in theory come out on top. The 100 shows what was price has moved for the last 100 candles so its a strong indicator for sure

Hi Guys

I use support & resistance with this strategy. To enter trade.

Can you show how please?

This on 5 Minute chart

15 Minute Chart

Here is another 1 Hour Chart. For me I prefer 15 minute chart.

great, i understand the idea behind.

may i ask, is the indi or better the dotted lines a typical fractals indi?

Short Chfjpy. it look pretty good