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Magic 100

  • #81
  • Apr 1, 2020 5:07am Apr 1, 2020 5:07am
Hi guys

This strategy looked simple but very effective to me so I decided I'm going to backtest it on EU. As I saw one of you suggested that if trend is supported by HTF the chance of winning are higher so I'm going to test it with 2 ema: 100 and 400, last one would allow me to have plotted the 100 ema of the 4H in the 1H, hope I've explained myself.

By doing this I'm expecting a more clear trend vision without jumping from one timeframe to another. I'll let you know how backtest will go in a couple of days.

I would like to thank @Minotawr for sharing this and @xkwisit2001 for sharing good insights.

Have a nice day
There is no try
  • #82
  • Apr 1, 2020 5:09am Apr 1, 2020 5:09am
Quoting SunnyCoast
{quote}This is not my thread, but always happy to learn.
Hi SunnyCoast - guessing from the handle you are from up Noosa way? If Minotawr is Ok with it I will post as do not want to hijack his thread and my method requires a few other things to be valid. Otherwise will send you a PM
Cheers
maahome
  • #83
  • Apr 1, 2020 5:28am Apr 1, 2020 5:28am
Quoting maahome
{quote} Hi SunnyCoast - guessing from the handle you are from up Noosa way? If Minotawr is Ok with it I will post as do not want to hijack his thread and my method requires a few other things to be valid. Otherwise will send you a PM Cheers maahome
Hi maahome, thanks for stopping by.

I am also willing to learn, but think it would be more usefull when you open a new thread. So this on will not get overload with differnt stuff.

Thanks.
  • #84
  • Apr 1, 2020 6:00am Apr 1, 2020 6:00am
Quoting maahome
{quote} Hi SunnyCoast - guessing from the handle you are from up Noosa way? If Minotawr is Ok with it I will post as do not want to hijack his thread and my method requires a few other things to be valid. Otherwise will send you a PM Cheers maahome
Yes, spot on. Noosa is very close by.

Feel free to PM as I have 100% respect for thr rhread starter and what he is trying to do in keeping a very good method nice and simple.
Empty your mind and let the market guide you
  • #85
  • Apr 1, 2020 6:23am Apr 1, 2020 6:23am
after a long wait, you immediately pull the sl to plus
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  • #86
  • Edited 7:13am Apr 1, 2020 6:52am | Edited 7:13am
Quoting Wise-Jedi
Hi guys This strategy looked simple but very effective to me so I decided I'm going to backtest it on EU. As I saw one of you suggested that if trend is supported by HTF the chance of winning are higher so I'm going to test it with 2 ema: 100 and 400, last one would allow me to have plotted the 100 ema of the 4H in the 1H, hope I've explained myself. By doing this I'm expecting a more clear trend vision without jumping from one timeframe to another. I'll let you know how backtest will go in a couple of days. I would like to thank @Minotawr for sharing...
That`s sounds nice Jedi. I am looking forward to your results
  • #87
  • Apr 1, 2020 6:53am Apr 1, 2020 6:53am
Quoting Minotawr
{quote} Hi maahome, thanks for stopping by. I am also willing to learn, but think it would be more usefull when you open a new thread. So this on will not get overload with differnt stuff. Thanks.
Agree 100% with you. I like that you have kept this simple and to the point - wishing you all the best and many green pips.

Cheers
maahome
  • #88
  • Apr 1, 2020 7:11am Apr 1, 2020 7:11am
Quoting Minotawr
{quote} That`s sounds nice Jedi. I am looking forward for your results
I think I'm going to test it on demo, it's quite intricate backtest this because there are much signals that most of the times overlap.

I've backtested 1/2 january 2020 EUR/USD H1 and got like 4/5 signals a day on average. How much trades do you take a day? And have you backtested this?

Have a nice day
There is no try
  • #89
  • Apr 1, 2020 9:35am Apr 1, 2020 9:35am
Quoting Minotawr
EUR/GBP i am in this one. A small variation on setting the SL: if the initial bar is too small, i take a reasonable distance for the pair. Here is my SL about 20 pips {image}
Hit my target on 3R and moved further south
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  • #90
  • Apr 1, 2020 9:40am Apr 1, 2020 9:40am
Quoting SunnyCoast
Just taking a look at this one on GBP USD. Risk is well managed and I like how this is really pulling back hard into the 100. {image}
GBP/USD almost similar to yesterday, great move. I took half out on 2R, waiting for 3R. I hope you catch some
Attached Image (click to enlarge)
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  • #91
  • Apr 1, 2020 9:44am Apr 1, 2020 9:44am
Quoting Minotawr
EUR/JPY was a stunner... {image}
EUR/JPY usually i am waiting for a deeper retracement for a reentry, but the downmove was very straight. So jumpes on this again. Waiting for 3R
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  • #92
  • Apr 1, 2020 12:05pm Apr 1, 2020 12:05pm
Thanks alot for the help.
Happy trading.
Paolo
  • #93
  • Apr 1, 2020 12:33pm Apr 1, 2020 12:33pm
Quoting xkwisit2001
If you check again, the entry opened but didnt return back down to hit stop loss. Sure, the trade would have been in the minus for a while but it eventually hit TP.
I did not say it returned back to the SL. Just that it ALMOST did so. From the H1 chart it seemed to be there were only a few pips room left between the next candle low where price almost touched the SL of the previous entry candle

Quoting xkwisit2001
Regarding sideways movement from your question earlier, this would be when the 100MA is basically sideways and isnt showing a clear direction (dont trade it) You'll get better and better over time.
Yes, but my question was more about what parts of the 100MA i should concentrate my eyes on to say its sideways or not. It could be just the last candle, the last few candles or even weeks of past data the 100MA is drawn sideways on the H1 chart or not.

Also for the right side of the chart such EMA is still not visible. So how to say its not switching back to a trending environment at any time with any new candle forming.
  • #94
  • Apr 1, 2020 1:40pm Apr 1, 2020 1:40pm
but had already climbed in before?
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  • #95
  • Apr 1, 2020 6:17pm Apr 1, 2020 6:17pm
Quoting Minotawr
{quote} GBP/USD almost similar to yesterday, great move. I took half out on 2R, waiting for 3R. I hope you catch some {image}
Yep, that one worked out very nicely.
Empty your mind and let the market guide you
  • #96
  • Apr 2, 2020 12:52am Apr 2, 2020 12:52am
Quoting ingo3344
but had already climbed in before? {image}
Hi Ingo, on H1 or smaller timeframes of course not every signal is a valid entry. Here comes the "common sense" in to play, that i mentioned in my first post. This is hard to teach and comes from experience in trading.

This fact makes it difficult to make a back test on H1, so better look on H4 for a better back test.

And of course, like any other system you will have loser trades too. That`s the part of the game. That is why is so important to have a good R:R management. But believe me, the winning trades will outperform the losers and you will be profitable in the long run.

Stay save!
  • #97
  • Apr 2, 2020 1:28am Apr 2, 2020 1:28am
I like this.... Easy, simple and effective



i'm ever lose $2000, now time to go grow up
  • #98
  • Apr 2, 2020 1:35am Apr 2, 2020 1:35am
nice thread :-)

Do you guys take the steepness of the ema into consideration ?
Like in my case a value of 75 in order to avoid ranging markets ?

Also - Minotawr - I like that indi that plots the lines ( entry, sl, etc.) on your charts...
Is this a custom indicator ?

Are you willing to share ?

Best,

Mark
Attached Image (click to enlarge)
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  • #99
  • Apr 2, 2020 1:59am Apr 2, 2020 1:59am
Quoting mtacki
I like that indi that plots the lines ( entry, sl, etc.) on your charts... Is this a custom indicator ? Are you willing to share ?
That's a customized Fibonacci man, he said that a couple post ago.
There is no try
  • #100
  • Apr 2, 2020 2:41am Apr 2, 2020 2:41am
Quoting Minotawr
{quote} Hi Ingo, on H1 or smaller timeframes of course not every signal is a valid entry. Here comes the "common sense" in to play, that i mentioned in my first post. This is hard to teach and comes from experience in trading. This fact makes it difficult to make a back test on H1, so better look on H4 for a better back test. And of course, like any other system you will have loser trades too. That`s the part of the game. That is why is so important to have a good R:R management. But believe me, the winning trades will outperform the losers and...

Those trades were not taken during the london or frankfurt sessions as u had advised earlier.
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