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Magic numbers question 12 replies

Ever seen this magic number bug? 4 replies

magic is back! 11 replies

Magic Numbers for Mutiple EA 9 replies

Attachments: Magic 100
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Magic 100

Quoting James154
{quote} Hi mate, yes alot of messing around with it. I just found following structure, waiting for a pullback to minimum 50%, but the further the better, and simply placing my order. I tried all kinds of different R:Rs. Sometimes I would simply target the low, or the high. But I just found that having a negative R:R and a really high win rate so good for my psychology. Trading less set ups but over the course of the month, being up around 5-7% is the way forward for me.
Pretty much what I do to be fair, I target the 66% area on my fibonacci and then I set a pending order in accordance to this. My target is usually the ADR for the day or could be previous day high or low and it works well for me.

I set to break even after 1:1 and leave it - will then re-enter later on during any new pullbacks and stack em up.

My initial entry is on the 1hr but additional ones will be on lower timeframes.

But will see how the 0.5 turns out on a small account
You can lead a horse to water, but you can't make it drink
Here is a trade I took this morning, 1:0.57

As you can see, ideally we target the high, but targeting towards the high sort of guarantees a movement in that direction but often as is the case, it doesn't have the legs to get there and typically, as in the picture, reverses and takes you out at BE or a loss depending on how you want to trade.

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Quoting James154
Here is a trade I took this morning, 1:0.57 As you can see, ideally we target the high, but targeting towards the high sort of guarantees a movement in that direction but often as is the case, it doesn't have the legs to get there and typically, as in the picture, reverses and takes you out at BE or a loss depending on how you want to trade. {image}
Great stuff buddy!
I would probably check some sort of oscillator (RSI/MACD) to see if there is divergence in situations like that but as you mentioned earlier you could take partials, set to break even and then let a small piece run.

In the long run it'll take longer to grow an account which for me would be frustrating seeing 0.5 when I could have had 1:3 or something or hitting 2 losses in a row and then needing 4 wins to get back on track with the negative R:R but if it's working for you then that's all that matters really.

Plenty of chart time works wonders when sticking to one strategy so I think you'll be fine in the long run but definitely consider letting a small one run.

Green pips & happy friday (time for some beers)
You can lead a horse to water, but you can't make it drink
100% it's just finding what works for you and sticking with it.

Once you've found something that fits your personality, that is when I feel you've truly made it as a trader.

A lot of systems people try to copy to the absolute letter, but I believe that taking a system and working with it to fit to your personality is what will make you successful.

Have a nice weekend
James,

Which TF(s) did you test on?
1H
Quoting vmd108
James, Which TF(s) did you test on?
Why ask that? it's stated clearly on the 1st page! - H1 using 100 EMA!

The strategy works perfectly if you follow it to a tee... I actually spoke to Minotawr before he even posted this thread hence why he mentioned me in the 1st post as I understood it and said it would be easy for others to get it.

Being honest, the only issue with the strategy is people sticking to it and that's it... period.

Look at how many strategies there are on this website... it's amazing to have this much honest information but that is our downfall!

As humans, we seek the best strategy based on how many likes, views or comments it has which is just stupid... but that's what we are as traders when we are seeking information... dumb... stupid... whatever.

For me everything clicked when I realised that the market didn't give a crap about me and it will do whatever it wants to do regardless of the strategy I was using.

Of course this strategy can be improved and made better which is why it is presented this way... Mino knew this as I already told him I like the entry but I didn't like many other things... (Personally). But Mino didn't want to deviate from the core when starting the thread as it would confuse people and he genuinely wanted to give back as it worked for him over a long period of time and he is such a good person for doing so.

This strategy doesn't need any FVG, breaker block, order block, equal highs liquidity inducement crap... it's just a basic entry method following a strong trend which is common sense and it's your job to find what works for YOU.

I say this as I get so many messages from people about this strategy and I don't know what to even say as trading is an individual journey... plus i'm not a mentor.

Moral of the story is that you need to absorb information but work out how you use it to your advantage as what someone presents to you isn't the holy grail... it's what worked for them and their psyche but that doesn't mean it's the same as your own.

Land, expand, modify and thrive... that's all i'll say.

Or land, expand, fail and cry... up to you.
You can lead a horse to water, but you can't make it drink
EURAUD is a pair that tends to trend for long periods so suited to this type of strategy.
Simple is good.
H1.

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its all just one persons opinion....
EURAUD H1

Got in short at 1.6201.
ADR is at 1.6108 and coincides with some support.

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its all just one persons opinion....
Quoting axecap
EURAUD H1 Got in short at 1.6201. ADR is at 1.6108 and coincides with some support. {image}
stopped out
its all just one persons opinion....
Hey axecap,

For me personally, when price breaks above that high that i've circled in blue, it's no longer a downtrend, and it looks like price is about to start making HH's and HL's
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just my thoughts, Mondays I always find quite difficult to trade it's like a lot of reversals happen. I didn't see anything decent today
Quoting James154
Hey axecap, For me personally, when price breaks above that high that i've circled in blue, it's no longer a downtrend, and it looks like price is about to start making HH's and HL's {image} just my thoughts, Mondays I always find quite difficult to trade it's like a lot of reversals happen. I didn't see anything decent today
yes thanks....and you have proved to be correct.

At the time though my logic was the rejection spikes from the MA and the move below the days open.....which often act as resistance. It looked to me like the pull back had ended. The h4 trend is still down so will keep and eye on the pair for another oportunity later.
I agree about mondays....but then EU, NU and GU all had good moves down, where I did alright with less than perfect entries.
its all just one persons opinion....
Quoting James154
Hey axecap, For me personally, when price breaks above that high that i've circled in blue, it's no longer a downtrend, and it looks like price is about to start making HH's and HL's {image} just my thoughts, Mondays I always find quite difficult to trade it's like a lot of reversals happen. I didn't see anything decent today
Correct and good information but if I may add, if anyone here trades gold then this can usually be a liquidity sweep to induce buyers so always wait and see if the low in this scenario gets broken.

It's called quasimodo (QM) if the low gets broken.

Gold loves to sweep the first pullback at the start of a trend but currencies are usually fine to follow normal market structure.
You can lead a horse to water, but you can't make it drink
Hi guys,
here is an EA for testing this system. Equity curve looks good - enjoy it ... and green pips for all

Franky
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Attached File(s)
File Type: ex4 T4W_Magic100_ea.ex4   83 KB | 54 downloads
Improved version of EA: T4W_Magic100_ea 24.007
For scalping you can use Range bars chart + tick indicator for momentum (both are included).
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Attached File(s)
File Type: ex4 T4W_Magic100_ea.ex4   95 KB | 43 downloads
File Type: ex4 bmi_tickdata_4ma.ex4   18 KB | 29 downloads
File Type: mq4 bmi_tickdata_4ma.mq4   4 KB | 35 downloads
File Type: ex4 WinRangeBarsEA.ex4   33 KB | 35 downloads
I have been reading the entire thread and used the best advises coming from many of the original gangsters in here.

Today was a really good day for setups - found several clean retracements, but due to margin I didn't jump on all of them.
But the 3 I did jump has all proved good and I have secured 6% and have another running in 1,25% profit with stoploss BE+1

AUDCAD: 3%
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AUDUSD: 3%

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USDJPY: 1,25% running - Stoploss breakeven
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I find my bias from the 4H trendlines and then I only look for strong pullbacks to at least the 40ema before I even pay attention to the candles.
I use heiken ashi candle to funnel out the noise - for further confirmation I also sometimes draw a trendline along the pullback.
Entry are below the previous retracement candle where it makes sense.

You will have losses but if you look for clean deep retracements and enter in the direction of the trend - you will be pips positive.

I use tradeview to find my setups and execute and monitor the trades in mt5 - all trades are done manuel - I only use an EA to calculate position size, takeprofit and stoploss.

A view of my tradeview:
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dis look good for a long
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Quoting havenoidea
dis look good for a long {image}
At the moment I don't think so - we are in a push upwards - we have already had several pullbacks (purple box) and price is trending in a step uptrend - that could end and retrace.
It also can go further who knows - but I think we should wait for a clean retrace before entering - so we can get in on a fresh impuls move to the topside.

On the 4 hour the bullish move is even bigger with no real retrace for many days

I would put i on my watchlist, but don't see myself doing an entry before a retrace - and not before tomorrow anyhow.

1H
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4H
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  • Post #2,739
  • Quote
  • Last Post: Edited 11:58am Oct 29, 2024 11:05am | Edited 11:58am
Quoting TranceGhost
{quote} At the moment I don't think so - we are in a push upwards - we have already had several pullbacks (purple box) and price is trending in a step uptrend - that could end and retrace. It also can go further who knows - but I think we should wait for a clean retrace before entering - so we can get in on a fresh impuls move to the topside. On the 4 hour the bullish move is even bigger with no real retrace for many days I would put i on my watchlist, but don't see myself doing an entry before a retrace - and not before tomorrow anyhow. 1H {image}...
im a havenoidea person, i just play around with price movement
+53 pips
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