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Magic 100

  • #381
  • Apr 22, 2020 11:23am Apr 22, 2020 11:23am
Quoting finessence
Out of this UJ short. Was hoping for a quick break lower, but it's hesitating on the trendline; oil looks like it wants up too. No need to push it on Friday either. {image}

Hi Finessence . . . may I assume that your monthly return at 162 % includes other types of trading than the Magic 100? I noticed that Minotaur previously mentioned his return to be 20% per month (average).
  • #382
  • Apr 22, 2020 11:27am Apr 22, 2020 11:27am
Quoting finessence
{quote} No offence taken, Spikehunter, but please don't even mention an EA for this simple method. It is the trader's job to be able to navigate between trending and non trending conditions. There's a lot of discretion involved, and that's why it's best traded manually, imho. Best of luck to you, stay safe.
No offence taken. Good luck.
  • #383
  • Apr 22, 2020 11:33am Apr 22, 2020 11:33am
Quoting Forest-Sea
{quote} Hi Finessence . . . may I assume that your monthly return at 162 % includes other types of trading than the Magic 100? I noticed that Minotaur previously mentioned his return to be 20% per month (average).
Hi Forest-Sea. Over the years I've developed my own preferred style of trading, mostly based on PA. The 100 EMA just happens to supplement the picture for me.
Timing Direction Strength
  • #384
  • Apr 22, 2020 11:37am Apr 22, 2020 11:37am
Quoting finessence
{quote} It's all about the support now, and that last push... {image}
Ouch! This time without me.
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Timing Direction Strength
  • #385
  • Apr 22, 2020 12:08pm Apr 22, 2020 12:08pm
Quoting Forest-Sea
{quote} Hi Finessence . . . may I assume that your monthly return at 162 % includes other types of trading than the Magic 100? I noticed that Minotaur previously mentioned his return to be 20% per month (average).
Just to be clear and not to cause confusion, in this thread I'm only posting trades that are in line with the system.
Timing Direction Strength
  • #386
  • Apr 22, 2020 1:50pm Apr 22, 2020 1:50pm
Hey guys, how you doing so far?

I am happy to see, that this thread is growing. I hope it`s usefull for somebody. Haven`t found time yet to read all the recent posts. Maybe on weekend

Stay strong and safe!
  • #387
  • Apr 22, 2020 6:16pm Apr 22, 2020 6:16pm
Quoting finessence
{quote} Hi Forest-Sea. Over the years I've developed my own preferred style of trading, mostly based on PA. The 100 EMA just happens to supplement the picture for me.

Excellent. Congratulations on your ongoing effort that has paid off handsomely.
  • #388
  • Edited Apr 23, 2020 2:42am Apr 22, 2020 9:44pm | Edited Apr 23, 2020 2:42am
Morning everyone!

Here is my GBPAUD trade today, R:R = 1:2, R=~70 pips. what do you guys think? Am I wrong?

Currently at -31pips as I am posting this

Update current at -51 pips now...

Update now at +22pips.. phewww think I am about to move SL to BE

Update, I exit half at +81.5 pips, and moved SL to positive side.
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  • #389
  • Apr 23, 2020 2:33am Apr 23, 2020 2:33am
I have been trading for awhile now using a similar concept so far, I think what people are not getting/understanding when using this strategy is "Trend".
Here's a trade, GBPUSD - Trading under the EMA 100 according to the rules it should be sell.. But if you zoom out and look at the chart alittle, the immediate trend is going up. If a signal came in, would you short it? i wouldnt.
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  • #390
  • Apr 23, 2020 3:59am Apr 23, 2020 3:59am
Quoting Smirking
I have been trading for awhile now using a similar concept so far, I think what people are not getting/understanding when using this strategy is "Trend". Here's a trade, GBPUSD - Trading under the EMA 100 according to the rules it should be sell.. But if you zoom out and look at the chart alittle, the immediate trend is going up. If a signal came in, would you short it? i wouldnt. {image}
When I am interested in setups on M60, I also have open M15 and M5. When M5 EMA100 goes flat, and especially when price simply cycles around it, I am concerned about the direction changing. Whether it will be a mere retracement or a trend reversal will not be known until it is proven later. However, I at least stop entering new orders and either protect profits or close open ones.
Attached Image
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To free Gazans of Hamas, use whatever it takes.
  • #391
  • Apr 23, 2020 4:16am Apr 23, 2020 4:16am
Quoting Smirking
I have been trading for awhile now using a similar concept so far, I think what people are not getting/understanding when using this strategy is "Trend". Here's a trade, GBPUSD - Trading under the EMA 100 according to the rules it should be sell.. But if you zoom out and look at the chart alittle, the immediate trend is going up. If a signal came in, would you short it? i wouldnt. {image}

I do but at discounted price
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Demo = Demon
  • #392
  • Edited 5:37am Apr 23, 2020 5:00am | Edited 5:37am
Quoting DrDave
{quote} When I am interested in setups on M60, I also have open M15 and M5. When M5 EMA100 goes flat, and especially when price simply cycles around it, I am concerned about the direction changing. Whether it will be a mere retracement or a trend reversal will not be known until it is proven later. However, I at least stop entering new orders and either protect profits or close open ones.{image}{image}
Ah, I understand, that was meant for New traders or beginners who trade strategies blindly. I read through the whole 20page thread, I realized alot of them are Hard-Trading. They just stick to the rules set and blind trade it. Sadly Trading does not work this way. For experienced trader like yourself, feel free to ignore my 2cents, me myself have only started 6-7 months pretty new if i would say.

But personally, I dont like to look for confirmation from LTFs, I go for HTFs. I feel like personally HTF determines the longer term trend and LTF determines the immediate momentum.

This one trade that i am currently in, My profit just hit 2R and I moved my SL to BE TP at 3R.

P.S I am not trading this on isolation, I just merely blocked out my S/R levels and my fibbonaci levels to clean up my charts

Update : TP 3R hit ;D
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  • #393
  • Edited 5:32am Apr 23, 2020 5:20am | Edited 5:32am
Clean trend, Clean retrace.
This is something i would trade personally, waiting for a good signal.

Any 2cents from more experienced trader?
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  • #394
  • Apr 23, 2020 5:42am Apr 23, 2020 5:42am
NZDUSD - GL
Demo = Demon
  • #395
  • Apr 23, 2020 5:56am Apr 23, 2020 5:56am
Quoting JetSpeed
NZDUSD - GL
No offense, but the EMA shows down, but the trends looks conflicting. Not to mention it was ranging few hours prior. Take cautious , and stay safe ;D
  • #396
  • Apr 23, 2020 7:47am Apr 23, 2020 7:47am
EURAUD has done its best to show me the middle finger today; missed that beautiful train south completely. So I'm doing the next best thing - USDCAD short. Oil pushing higher today, that should help.
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Timing Direction Strength
  • #397
  • Apr 23, 2020 8:09am Apr 23, 2020 8:09am
Quoting Minotawr
Hey guys, how you doing so far? I am happy to see, that this thread is growing. I hope it`s usefull for somebody. Haven`t found time yet to read all the recent posts. Maybe on weekend Stay strong and safe!
Hey mate, When you are free. Maybe you should add to avoid metals and exotic pairs, or the spread may kill some beginner trader before they even have a chance hahaha..

P.S just my 2 cents ;P
  • #398
  • Apr 23, 2020 8:13am Apr 23, 2020 8:13am
Quoting finessence
USDCAD short. Oil pushing higher today, that should help. {image}
There's the H4 100 in the way; let's see if it can push through. SL @BE.
Timing Direction Strength
  • #399
  • Edited Apr 27, 2020 12:36pm Apr 23, 2020 8:16am | Edited Apr 27, 2020 12:36pm
The EUR/USD pair fell to a fresh 3-week low of 1.0755 this Thursday, undermined by worse than expected macroeconomic figures. Markit released the preliminary estimates of April PMIs which posted record contractions, amid the coronavirus-related lockdown. The German manufacturing index fell to 34.3 while services output contracted to 15.9. For the whole Union, the manufacturing PMI resulted at 33.6, while the services index plunged to 11.7, all record lows. Also, the German GFK Consumer Confidence Survey for May plummeted to -23.4 against the previous 2.7.
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  • #400
  • Apr 23, 2020 8:24am Apr 23, 2020 8:24am
Quoting Msomrat7864
The EUR/USD pair fell to a fresh 3-week low of 1.0755 this Thursday, undermined by worse than expected macroeconomic figures. Markit released the preliminary estimates of April PMIs which posted record contractions, amid the coronavirus-related lockdown. The German manufacturing index fell to 34.3 while services output contracted to 15.9. For the whole Union, the manufacturing PMI resulted at 33.6, while the services index plunged to 11.7, all record lows. Also, the German GFK Consumer Confidence...
Is there a trade of yours, hiding somewhere in the tangle of the MAs? If no, what's the point of your post?
Timing Direction Strength
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