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Magic 100

  • #21
  • Mar 30, 2020 6:05am Mar 30, 2020 6:05am
Quoting shrips
How far above the high or low are you placing your entries and stops?
Just the spread away
  • #22
  • Mar 30, 2020 7:13am Mar 30, 2020 7:13am
Quoting Minotawr
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.
Could you try to explain a bit more in detail for what exact candle you wait to place that buy or sell order above or below the candle?

Don’t understand it on your examples charts, there could be several candles for it to me.

How do you achieve a constant routine/results with such strategy? You could trade 1 setup per month or 1 per day, 3 per day, 10 per day. Do you trade for a fixed amount of time, then what markets for what hours?

A bit more information here would be highly welcome, thanks in advance.
  • #23
  • Mar 30, 2020 7:17am Mar 30, 2020 7:17am
Quoting lddd
{quote} Could you try to explain a bit more in detail for what exact candle you wait to place that buy or sell order above or below the candle? Don’t understand it on your examples charts, there could be several candles for it to me. How do you achieve a constant routine/results with such strategy? You could trade 1 setup per month or 1 per day, 3 per day, 10 per day. Do you trade for a fixed amount of time, then what markets for what hours? A bit more information here would be highly welcome, thanks in advance.
You place a pending order,buy or sell. With the close of each candle you move your pending order accordingly until it is activated.
All you touch and all you see, is all your life will ever be.
  • #24
  • Mar 30, 2020 7:23am Mar 30, 2020 7:23am
Quoting Loftboy
{quote} You place a pending order,buy or sell. With the close of each candle you move your pending order accordingly until it is activated.
Exactly, my friend! You got it

Thanks
  • #25
  • Mar 30, 2020 7:30am Mar 30, 2020 7:30am
Please can you add more information? it feels a little bit insecure...
If the candles close above EMA 100 = LONG, it means that every RED candle is a trigger to uptrend?

Something not clear to me...
  • #26
  • Mar 30, 2020 7:30am Mar 30, 2020 7:30am
Quoting lddd
{quote} Could you try to explain a bit more in detail for what exact candle you wait to place that buy or sell order above or below the candle? Don’t understand it on your examples charts, there could be several candles for it to me. How do you achieve a constant routine/results with such strategy? You could trade 1 setup per month or 1 per day, 3 per day, 10 per day. Do you trade for a fixed amount of time, then what markets for what hours? A bit more information here would be highly welcome, thanks in advance.
Hi Iddd,

i trade the Frakfurt and London session. 1 trade per day for every pair. Mostly the major pairs.

Sometimes i see a good trend and setup on a daily TF, so i place trades on daily also.

Thanks for your questions
  • #27
  • Mar 30, 2020 7:32am Mar 30, 2020 7:32am
Quoting Sickmonster
Please can you add more information? it feels a little bit insecure... If the candles close above EMA 100 = LONG, it means that every RED candle is a trigger to uptrend? Something not clear to me...
, yep,..to simple,.needs more 10 indis,..s/r lines,..etc,.etc
  • #28
  • Mar 30, 2020 8:04am Mar 30, 2020 8:04am
Quoting artic118
{quote} , yep,..to simple,.needs more 10 indis,..s/r lines,..etc,.etc
How many pips do i need to take away from the candle before placing the BUY/SELL STOP - should I?
  • #29
  • Mar 30, 2020 8:40am Mar 30, 2020 8:40am
Quoting Sickmonster
{quote} How many pips do i need to take away from the candle before placing the BUY/SELL STOP - should I?
Hi Sick,

i dont understand your question. In an uptrend you place a pending buy order above the red candle. In a downtrend you place a pending sell order under the green candle.
  • #30
  • Mar 30, 2020 9:17am Mar 30, 2020 9:17am
Quoting HamzaLeo
{quote} Hi af2493! Thanks for replying and explaining.
No problem buddy.
  • #31
  • Mar 30, 2020 10:17am Mar 30, 2020 10:17am
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
Thats right, well said
  • #32
  • Mar 30, 2020 2:42pm Mar 30, 2020 2:42pm
Hello, do I see correctly here that he would have triggered but would then have run into the sl?
Attached Image (click to enlarge)
Click to Enlarge Name: Unbenannt.PNG Size: 29 KB
  • #33
  • Mar 30, 2020 3:00pm Mar 30, 2020 3:00pm
Quoting ingo3344
Hello, do I see correctly here that he would have triggered but would then have run into the sl? {image}
Hi Ingo,

well, technically yes. But i wouldn`t trade this one at all. Because not a clear trend, this wasn`t a retracement but just choppy behavior.

Take care...
  • #34
  • Mar 30, 2020 3:20pm Mar 30, 2020 3:20pm
Thanks , you can also tell such things
  • #35
  • Mar 30, 2020 3:51pm Mar 30, 2020 3:51pm
Quoting Minotawr
{quote} Hi Iddd, i trade the Frakfurt and London session. 1 trade per day for every pair. Mostly the major pairs. Sometimes i see a good trend and setup on a daily TF, so i place trades on daily also. Thanks for your questions
Thanks for letting me know.

A picture maybe better to understand my question regarding the trade entry.

Attached Image


Here is what i did mean. There are 7 potential BUY signals which would have been stopped out before your trade entry example comes in play. So 7 potential losses vs 1 win. Hope i marked it correct, i am still not that much experienced.

Could you explain why you would not have taken the 7 losing examples? As far as i can see, all would have been valid regarding to the rules. Price Action is above the EMA so the uptrend is in place, every time a bearish candle appeared and i would have placed the pending buy order.
  • #36
  • Mar 30, 2020 6:40pm Mar 30, 2020 6:40pm
Quoting Sickmonster
Please can you add more information? it feels a little bit insecure... If the candles close above EMA 100 = LONG, it means that every RED candle is a trigger to uptrend? Something not clear to me...
No EA yet? I expected at least two by now.
All you touch and all you see, is all your life will ever be.
  • #37
  • Mar 30, 2020 7:30pm Mar 30, 2020 7:30pm
Quoting lddd
{quote} Thanks for letting me know. A picture maybe better to understand my question regarding the trade entry. {image} Here is what i did mean. There are 7 potential BUY signals which would have been stopped out before your trade entry example comes in play. So 7 potential losses vs 1 win. Hope i marked it correct, i am still not that much experienced. Could you explain why you would not have taken the 7 losing examples? As far as i can see, all would have been valid regarding to the rules. Price Action is above the EMA so the uptrend is in place,...

Read again first post! You are doing all wrong.
  • #38
  • Edited 10:11pm Mar 30, 2020 9:08pm | Edited 10:11pm
Quoting lddd
{quote} Thanks for letting me know. A picture maybe better to understand my question regarding the trade entry. {image} Here is what i did mean. There are 7 potential BUY signals which would have been stopped out before your trade entry example comes in play. So 7 potential losses vs 1 win. Hope i marked it correct, i am still not that much experienced. Could you explain why you would not have taken the 7 losing examples? As far as i can see, all would have been valid regarding to the rules. Price Action is above the EMA so the uptrend is in place,...
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)... Don't trade it.

Thanks OP for this, I really needed this method because my brain has been working overtime recently and couldn't think straight!

This has certainly got me back and focused again. Easy does it.

Great simple strategy that works!
You can lead a horse to water, but you can't make it drink
  • #39
  • Mar 30, 2020 9:16pm Mar 30, 2020 9:16pm
This method also works amazing to stack trades with higher TFS as trend direction confirmation (I.e 4hr & daily).

Then stacking with the 1hr TF.

But that's a whole other ball game if this thread was made purposely for beginners.
You can lead a horse to water, but you can't make it drink
  • #40
  • Mar 30, 2020 11:32pm Mar 30, 2020 11:32pm
Crazy how it's after i become a profitable trader. I find 2 amazing, simple, and profitable strategys on this website lol. Nice strategy man . This is definitely what i needed to add more to my swings.
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