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Magic 100

  • #1
  • First Post: Edited Apr 17, 2020 5:55am Mar 29, 2020 3:48pm | Edited Apr 17, 2020 5:55am
Hello Folks,

let me introduce very quick my trading system...easy and profitable ....and yes, there is nothing magical about this one

Time Frame H1 , but it works also in the higher timeframes as well!

All you need is a strong trend, a 100EMA and common sense. We only take trades in the direction of the trend!

Buy : Price is above the 100EMA, you place a buy stop order above the red candle. Stop is is under the candle. TP is 2R (R:R is about 1:2 or 1:3)

See Picture

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 56 KB


Sell: Price is under the 100EMA, you place a sell order under the green candle.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH1.png Size: 61 KB


Here is a perfect explanation from an user xkwist2001, who understands the concept:

Quoting xkwisit2001
{quote} You want to set a pending order at the high of the last retracement candle and a stop loss beneath the low of the same candle on a long trade (if uptrend) If there are candles that form lower after that candle, then move the pending buy and stop to that new candle. As long as the 100EMA supports the upward trend direction. And the opposite if it was a downtrend. I.e set pending sell order below and stop loss above the high. If the 100EMA is not showing a direction (sideways)
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Here is a educational chart:

https://www.forexfactory.com/showthr...2883065http://

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The yellow lines with Entry/SL/TP are not an indicator. This is just the fibonacci tool from MT4. You can modify this tool like you want. See the explanation from a friendly user.

https://www.forexfactory.com/showthr...3#post12871353

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Sorry if the strategy is nothing new here, maybe is usefull for anybody.

Be consistent and manage your risk properly!
  • #2
  • Edited 9:01pm Mar 29, 2020 8:43pm | Edited 9:01pm
Quoting Minotawr
Hello Folks, let me introduce very quick my trading system...easy and profitable ....and yes, there is nothing magical about this one Time Frame H1 , but it works also in the higher timeframes as well! All you need is 100EMA and common sense. We only take trades in the direction of the trend! Buy : Price is above the 100EMA, you place a buy stop order above the red candle. Stop is is under the candle. TP is 2R (R:R is about 1:2 or 1:3) See Picture {image} Sell: Price is under the 100EMA, you place a sell order under the green...
Couldn't be much more simple. Now watch everyone ask if there is an EA for it, or start adding indicators.
Please make your 100 EMA a different colour.
All you touch and all you see, is all your life will ever be.
  • #3
  • Mar 29, 2020 9:23pm Mar 29, 2020 9:23pm
Quoting Minotawr
Hello Folks, let me introduce very quick my trading system...easy and profitable ....and yes, there is nothing magical about this one Time Frame H1 , but it works also in the higher timeframes as well! All you need is 100EMA and common sense. We only take trades in the direction of the trend! Buy : Price is above the 100EMA, you place a buy stop order above the red candle. Stop is is under the candle. TP is 2R (R:R is about 1:2 or 1:3) See Picture {image} Sell: Price is under the 100EMA, you place a sell order under the green...
I think it's very easy and profitable system. No magic, but amazing.
  • #4
  • Mar 29, 2020 10:19pm Mar 29, 2020 10:19pm
Quoting Minotawr
Hello Folks, let me introduce very quick my trading system...easy and profitable ....and yes, there is nothing magical about this one Time Frame H1 , but it works also in the higher timeframes as well! All you need is 100EMA and common sense. We only take trades in the direction of the trend! Buy : Price is above the 100EMA, you place a buy stop order above the red candle. Stop is is under the candle. TP is 2R (R:R is about 1:2 or 1:3) See Picture {image} Sell: Price is under the 100EMA, you place a sell order under the green...
HI!
i dont know may be its s silly question; i dont understand which type of red candle in the uptrend,or a green candle in downtrend we sould look for to place stop order.
  • #5
  • Mar 30, 2020 12:36am Mar 30, 2020 12:36am
Quoting Loftboy
{quote} Couldn't be much more simple. Now watch everyone ask if there is an EA for it, or start adding indicators. Please make your 100 EMA a different colour.
Thanks my friend. Yeah, people always try to complicate systems. They cannot believe the Power of simplicity...
  • #6
  • Mar 30, 2020 12:44am Mar 30, 2020 12:44am
Quoting HamzaLeo
{quote} HI! i dont know may be its s silly question; i dont understand which type of red candle in the uptrend,or a green candle in downtrend we sould look for to place stop order.
Hi Hamza, its kinda retracement bars in strong trends. Like this one :

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 60 KB


Stay safe
  • #7
  • Mar 30, 2020 12:51am Mar 30, 2020 12:51am
Quoting Minotawr
{quote} Hi Hamza, its kinda retracement bars in strong trends. Like this one : {image} Stay safe
Hey Minotawr, thanks for the thread. I believe Hamza may be questioning which red bar specifically an order should be placed above. In the example, the order is shown on the final red bar before the trend continues. But one cannot know this from before.

As I understand it, we place an order above every red bar that forms, with the idea being that more likely than not, if the retrace is continuing our order will probably not be triggered.

Please correct me if I'm wrong.

Thanks
  • #8
  • Mar 30, 2020 1:36am Mar 30, 2020 1:36am
Do you have an EA? It's probably a good idee to ad an oscillator. And use SAR and fractals too.
  • #9
  • Mar 30, 2020 1:45am Mar 30, 2020 1:45am
Quoting Anusragger
Do you have an EA? It's probably a good idee to ad an oscillator. And use SAR and fractals too.
  • #10
  • Mar 30, 2020 1:49am Mar 30, 2020 1:49am
In the chart above where you highlight the red entrancement candle, why did you not trade the red candle before that one or even the one before that?
  • #11
  • Mar 30, 2020 1:50am Mar 30, 2020 1:50am
That should read retrace candle.
.
  • #12
  • Mar 30, 2020 2:18am Mar 30, 2020 2:18am
Quoting johnvr
In the chart above where you highlight the red entrancement candle, why did you not trade the red candle before that one or even the one before that?
Good question my friend.

You set an buystop order above the first candle. If the second red candle appear and your buy stop order is not activated, you move your buy stop lower, above the second bar. If the buystop order not trigerred again, since the third bar is complete, you move your order again. I hope its clear...

In that way you has the best entry
  • #13
  • Mar 30, 2020 3:15am Mar 30, 2020 3:15am
Quoting af2493
{quote} Hey Minotawr, thanks for the thread. I believe Hamza may be questioning which red bar specifically an order should be placed above. In the example, the order is shown on the final red bar before the trend continues. But one cannot know this from before. As I understand it, we place an order above every red bar that forms, with the idea being that more likely than not, if the retrace is continuing our order will probably not be triggered. Please correct me if I'm wrong. Thanks
Hi af2493!
Thanks for replying and explaining.
  • #14
  • Mar 30, 2020 3:42am Mar 30, 2020 3:42am
Quoting Minotawr
{quote} Good question my friend. You set an buystop order above the first candle. If the second red candle appear and your buy stop order is not activated, you move your buy stop lower, above the second bar. If the buystop order not trigerred again, since the third bar is complete, you move your order again. I hope its clear... In that way you has the best entry

thanks dear for your simple trading system.in my problem was how can you correctly identify the last reversal (retracement ) candle ? how can you catch the last one
  • #15
  • Mar 30, 2020 3:51am Mar 30, 2020 3:51am
Hi Sam,

you never know whats the last retracement candle is Unless you can forseen the future.

In the Uptrend you move your buystop lower and lower, until the buy order is activated and hopefully the uptrend is continue...
  • #16
  • Mar 30, 2020 4:39am Mar 30, 2020 4:39am
I`ve made another example, i hope it`s clearer now...

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYDaily.png Size: 61 KB
  • #17
  • Mar 30, 2020 4:45am Mar 30, 2020 4:45am
Quoting Minotawr
I`ve made another example, i hope it`s clearer now... {image}
This is how the Trade 5 (sellstop order) should looked like...

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYDaily.png Size: 57 KB
  • #18
  • Mar 30, 2020 4:56am Mar 30, 2020 4:56am
How far above the high or low are you placing your entries and stops?
  • #19
  • Mar 30, 2020 5:52am Mar 30, 2020 5:52am
Quoting Minotawr
{quote} This is how the Trade 5 (sellstop order) should looked like... {image}
Now you're confusing me. Why are these latest examples shown on a daily chart?
All you touch and all you see, is all your life will ever be.
  • #20
  • Mar 30, 2020 6:04am Mar 30, 2020 6:04am
Quoting Loftboy
{quote} Now you're confusing me. Why are these latest examples shown on a daily chart?
For a better example! The situation on this pair on Daily TF was very clear for the system. I also wrote in the first post:

"Time Frame H1 , but it works also in the higher timeframes as well!"

Stay safe
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