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Magic 100

  • #181
  • Apr 9, 2020 9:16am Apr 9, 2020 9:16am
Quoting 90patrick
{quote} Thank you. I have more questions: How is look MM for you positions? How size is your TPi SL ? Do you using Trailing Stop ? AND how long this strategy is profitable for you? How long have you been using this ?? Thank you.
Hey Pat,

i am trading this style for 5 years allready. This is profitable since the beginning. MM is easy: 1% risking on every trade. R:R is 1:3.

If you follow the rules, it works.

Trade safe and enjoy life.
  • #182
  • Apr 9, 2020 10:04am Apr 9, 2020 10:04am
Quoting Minotawr
{quote} Hey Pat, i am trading this style for 5 years allready. This is profitable since the beginning. MM is easy: 1% risking on every trade. R:R is 1:3. If you follow the rules, it works. Trade safe and enjoy life.
Thanks for sharing Minotawr!

Can you give us an idea of what kind of winning percentage this method has?

Thanks!
Believe and Achieve!
  • #183
  • Apr 9, 2020 12:04pm Apr 9, 2020 12:04pm
Quoting Minotawr
Holy sh*t !!! What a great day so far. I hope you catch some big moves...AUD pairs are driving mad. I have add positions to my yesterday trades Just incredible Be patient, stay humble and see the magic hapen!
Haha yes! AUD pairs are really doing well, they have also bank holiday today just make sure to lock your positions in profit and let them run. I got rid of the messy position, the risk wasn't worth it with the news coming haha. Thank you for everything
Lajit
  • #184
  • Apr 9, 2020 12:24pm Apr 9, 2020 12:24pm
hello, super system, like to read from the experiences. Nice easter with corona too
  • #185
  • Apr 9, 2020 12:36pm Apr 9, 2020 12:36pm
Quoting Minotawr
Holy sh*t !!! What a great day so far. I hope you catch some big moves...AUD pairs are driving mad. I have add positions to my yesterday trades Just incredible Be patient, stay humble and see the magic hapen!
AUD pairs BOOM BOOM BOOMMM
  • #186
  • Apr 9, 2020 12:47pm Apr 9, 2020 12:47pm
oh yes, there is a disadvantage, it always takes so long
  • #187
  • Apr 9, 2020 12:53pm Apr 9, 2020 12:53pm
Quoting Minotawr
{quote} Hi Iddd, if your pending order was not activated, you move it to the next candle. So you make sure you getting on the right track as soon as possible. They are plenty of losing trades, of course. Loss/win rate is about 40. But your winners outweight the losers far more. Thats why is so important to have a good R:R management, best is 1:3. Trade safe!
Thanks I now understand of moving the SL/TP with every new H1 candle.

Do you have any fixed rules in your trading plan for trading this method in case of over/under taking signals?

Lets say you get more than just one signal a day watching 28 currency pairs, would you take all of them even if this would mean opening 10 trades instead of just 1.

On the other hand from your experience can you say a min amount of trades to expect over a month so let’s say 20 active trading days?

Last when do you start end you trading day? So you only look for setups after the EU session opens as example and then what after you placed your orders, you monitor every hour, what if the day ends, you hold your trades open until they hit Sl or TP or close trades manually if monitoring them so you might end up ruining your risk reward ratio of 1:3 by closing trades to early by fear of leaving trades open even longer after reaching 3R in the case or greed :-)
  • #188
  • Apr 10, 2020 10:43am Apr 10, 2020 10:43am
have now had a few times that the course ran in the sl and then would have run very nicely in plus. Maybe put the sl a little further away
  • #189
  • Apr 10, 2020 11:08am Apr 10, 2020 11:08am
here is an indicator that maybe shows a little earlier when the trend change is there, the first line is tma entry, the 2 from da ema100 you can see. the 3 again tma the 4 line again ema
Attached Image (click to enlarge)
Click to Enlarge Name: Unbenannt.PNG Size: 52 KB
  • #190
  • Apr 10, 2020 11:15am Apr 10, 2020 11:15am
Quoting Minotawr
{quote} Hi Hercs, thank you and welcome. Well, i don`t really understand your question. I`ve marked my possible entry... {image} {quote} Please read the thread, i`ve answered this a several times allready
======
Hi Minotawr,
First and foremost, thanks for the welcoming note.
Secondly, my question was referring to the candle I marked with a vertical line - when I opened my charts on Friday morning, that is where the price was at. I saw the candle that you marked, but that was before the long which I took as being a retrace at first glans but it is still the active leg at the time of my opening charts.
Would you please be kind enough and just have another look at my posted chart and tell me which candle you would have regarded as the last candle in that upward move, without having the privilege of seeing what happened afterward.
Thank you for replying,
Hercs.
PS. I admit to not have read all the posts just yet, but your explanations were good enough regarding the selection of the candle and where to place the orders.
Hercs
  • #191
  • Apr 10, 2020 5:52pm Apr 10, 2020 5:52pm
Do you have an indicator to calculate lot size according to risk 1% or 2%, I would insert SL, for example if trigger candle is 15 pips plus at least 2 pips under and above it is 19 pips SL indicator have to calculate lot size according to my account balance if I risk 2% per trade.
I will trade RR 1:3?

Thanks
  • #192
  • Apr 11, 2020 11:52am Apr 11, 2020 11:52am
Quoting Forestralia
Do you have an indicator to calculate lot size according to risk 1% or 2%, I would insert SL, for example if trigger candle is 15 pips plus at least 2 pips under and above it is 19 pips SL indicator have to calculate lot size according to my account balance if I risk 2% per trade. I will trade RR 1:3? Thanks
There are plenty of them either for free or to buy. Use the forums search for „risk reward calculator“ or a google search.

I am using this one here

https://www.riskrewardratio.club/
  • #193
  • Apr 12, 2020 12:08am Apr 12, 2020 12:08am
Wow... Nice Thread!... Amazing. Your the 4th person who I saw uses this strategy, only different entry techniques & timeframes. I can add this entry technique in my arsenal hehehe. I love the simplicity..

Just a few questions bro
1. When do you plan your trades? is it the day before or every morning before asian opens?
2. When do you check the chart? is it every hour every candle close?
3. Do you wait for London open before checking the chart? do you take trades on asian session and why/why not?
4. how about NY signals, do you trade the as well?
5. Once you choose a pair to trade, do you not look at other pairs anymore?

6. Once you set your EP, SL, TP.. will you just set and forget once the EP is triggered?
7. once you entered, it goes in your favor but when it reached 1:1RRR, its starting to move against you going back to your entry, will you close the trade or just let it run?

I have a day job so I am trying to see if I could fit the 1hr TF chart.
I am looking for 1hr TF coz I don't like holding my trades on weekends (this is just me of course)
I can do 4hr & Daily TF coz I only check the chart every 4hr or every morning only for Daily TF.

Thank you bro
I can do 4hr & Daily TF coz I only check the chart every 4hr or every morning only for Daily TF.
  • #194
  • Apr 12, 2020 2:42am Apr 12, 2020 2:42am
Quoting lddd
{quote} There are plenty of them either for free or to buy. Use the forums search for „risk reward calculator“ or a google search. I am using this one here https://www.riskrewardratio.club/

Thank you, I have intention to test this strategy on 30 pairs and I will need something really fast and productive to help me calculate candle size and risk reward.
  • #195
  • Apr 12, 2020 5:58am Apr 12, 2020 5:58am
Hello good people, For those unable to modify their Fib channel to give you your TP1, TP2, Entry & Sl Levels.

This is how you do it.

How to create a ruler to measure multiple R-multiple profit targets



You can use MT4’s in-built Fibonacci Channels line study to create the ruler described. Here’s how:

Drag the Fibonnaci Channels study onto your chart (or use menu option: Insert… Channels… Fibonacci), and maneuver the end point until the lines are horizontal.

Edit the object properties to set the desired color, style etc for your lines.

On the Parameters tab, uncheck the Ray option, unless you want lines that extend the entire width of your chart.

On the Fibo levels tab, delete any existing levels, and then set your desired TP R-multiples. For example, I want to set TPs at 1.5 and 2.2 times the trade risk, hence I set the parameters as shown in the screenshot below. Levels are
2.2 = TP2
1.5 = TP1
-1.0 = SL
0.0 = Entry

lick OK, and you should have something that looks like the yellow lines in the screenshot.

Now simply drag the structure around the chart to your desired location:

 

  1. Drag handle ‘B’ to move the entire structure (horizontally and/or vertically).

  1. Drag handle ‘D’ to set your SL. As you move it, you’ll notice a number graphic whose second value tells you the number of points (a point = 0.1 pips, if your br0ker uses 5/3 digit quotes) between entry and SL. (Hence if you want a 30 pip SL, drag handle ‘D’ until this value = 300). Drag ‘D’ above/below line ABC to toggle between a buy or sell trade. The TP1 and TP2 lines move automatically.

  1. To extend/contract the lines, hold down the SHIFT key and drag either handle ‘A’ or handle ‘C’ sideways.
    Attached Image (click to enlarge)
    Click to Enlarge Name: Fib channels description.png Size: 15 KB

In It To Win
  • #196
  • Apr 13, 2020 2:58am Apr 13, 2020 2:58am
Moin, my problem with the sl works better now with the double atr
Attached Image (click to enlarge)
Click to Enlarge Name: Unbenannt.PNG Size: 29 KB
  • #197
  • Apr 13, 2020 3:10am Apr 13, 2020 3:10am
Quoting ingo3344
Moin, my problem with the sl works better now with the double atr {image}
Moin, moin Ingo. I said it before, if the initial candle is to small we have to take a reasonable SL distance.

Great entries btw , did you took the trades?
  • #198
  • Apr 13, 2020 3:14am Apr 13, 2020 3:14am
the first 2 were early
  • #199
  • Edited 3:29am Apr 13, 2020 3:15am | Edited 3:29am
Quoting Waih
Hello good people, For those unable to modify their Fib channel to give you your TP1, TP2, Entry & Sl Levels. This is how you do it. How to create a ruler to measure multiple R-multiple profit targets You can use MT4’s in-built Fibonacci Channels line study to create the ruler described. Here’s how: Drag the Fibonnaci Channels study onto your chart (or use menu option: Insert… Channels… Fibonacci), and maneuver the end point until the lines are horizontal. Edit the object properties to set the desired color, style etc for your lines. On the Parameters...
Thank you, Waih. This should clarify a lot. And should end the questions about this.

Btw, my levels are:

1= SL
0=Entry
-2= 2R
-3= 3R
  • #200
  • Apr 13, 2020 3:21am Apr 13, 2020 3:21am
Quoting Hercs
{quote} ====== Hi Minotawr, First and foremost, thanks for the welcoming note. Secondly, my question was referring to the candle I marked with a vertical line - when I opened my charts on Friday morning, that is where the price was at. I saw the candle that you marked, but that was before the long which I took as being a retrace at first glans but it is still the active leg at the time of my opening charts. Would you please be kind enough and just have another look at my posted chart and tell me which candle you would have regarded as the last candle...
Hi Hercs,

you have marked a green candle. This is wrong. We looking for red candles in the uptrend and green candles in the down trend for our entries.
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