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Magic 100

  • #401
  • Apr 23, 2020 9:33am Apr 23, 2020 9:33am
Learn from my mistakes, guys. Micromanaging a trade, especially when it's already @BE is counterproductive. Fuming!
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Timing Direction Strength
  • #402
  • Apr 23, 2020 10:17am Apr 23, 2020 10:17am
Quoting Smirking
{quote} 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...
Better results are obtained when you examine ALL of the timeframes. When the General is planning a battle, does he take his intelligence reports only from the right side of the battle zone, or does he consider the intelligence reports from everywhere that has relevance to the impending battle?

Looking at smaller timeframes should not mean looking for confirmation. Rather, it should be looking for signs that the current trend of the "control" timeframe is either weakening or continuing.

Also, indeed, higher time frames set a ZONE in which lower timeframes do cycling. The cycling "percolates" upward through the time frames. So, as the cycling in timeframes catch up to the "control" timeframe, there finally is a contest between the buyers and sellers to decide if the current trend (of the "control" timeframe) continues or is broken. You won't see this coming if you don't look left.

Consider your idea that HTF determines the longer term trend. So, let's check MN and find it is clearly in a downtrend with price below EMA100 for 135 months, except for a small excursion above the EMA spanning about 12 months. Now let's go have a look at the H1 chart, scrolling back about 1 year, and see how sell setups look. Hmmm, price is crossing UP on EMA100 , which is about flat, and then price stayed above the EMA100 for the next 170 H1 bars (about 1 month). Price then came below EMA100 for about 50 H1 bars (about 4 days), then back above for about 145 H1 bars (about 10 days), then back down. So clearly, this specific strategy of using a high timeframe for direction and a smaller timeframe for momentum/trade setups leaves a lot to be desired. Indeed, the EMA100 on H1 is a fairly good proxy for the price on W1, so now is it a surprise that if blindly following "sell when price is below EMA100" that there are stretches on H1 that work REALLY well, but also there are some stretches of REALLY BAD trades as well?

Like anything else that you want to do well, you must put in time to study the subject. In this case, the patterns and behaviors of the price and indicators of the instruments and timeframes that you intend to trade.
To free Gazans of Hamas, use whatever it takes.
  • #403
  • Apr 23, 2020 10:22am Apr 23, 2020 10:22am
Quoting Smirking
Clean trend, Clean retrace. This is something i would trade personally, waiting for a good signal. Any 2cents from more experienced trader? {image}
I don't see that you marked any trade setups on the chart, so I don't see how that it helps yourself or anyone else if there is nothing to comment about other than "clean trend".
To free Gazans of Hamas, use whatever it takes.
  • #404
  • Apr 23, 2020 11:17pm Apr 23, 2020 11:17pm
Quoting finessence
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. {image}
Price is above the 100EMA. Why you sell?
  • #405
  • Apr 24, 2020 2:52am Apr 24, 2020 2:52am
AUD/JPY 1H looks like a proper setup. Let's see how the friday will play it out.
I will definitely close it either way at the end of the day.
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  • #406
  • Apr 24, 2020 4:45am Apr 24, 2020 4:45am
I made a good run today on GBPAUD, 1H chart. Close to +90 pips now, moved my SL lower and extended my TP lower as well
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  • #407
  • Apr 24, 2020 5:01am Apr 24, 2020 5:01am
Quoting KevinZeng
{quote} Price is above the 100EMA. Why you sell?
The reasons for the trade are explained in the very post you quoted. The pending itself was below the MA.
Timing Direction Strength
  • #408
  • Apr 24, 2020 5:03am Apr 24, 2020 5:03am
Quoting rickntc
I made a good run today on GBPAUD, 1H chart. Close to +90 pips now, moved my SL lower and extended my TP lower as well {image}
A textbook short. Well done!
Timing Direction Strength
  • #409
  • Apr 24, 2020 5:30am Apr 24, 2020 5:30am
Quoting finessence
{quote} The reasons for the trade are explained in the very post you quoted. The pending itself was below the MA.
Placing the pending order below the EMA is too subtle. Remember, most folks here are looking for a clear trend and retracement with price already below the EMA when making that trend evaluation. So, with no run of down bars, let alone absence of the pullback after the down run below the EMA means too early to be selling.
To free Gazans of Hamas, use whatever it takes.
  • #410
  • Apr 24, 2020 6:26am Apr 24, 2020 6:26am
Thank you Finessence

Guys, 2 more potential setups for your consideration. quick quick!
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  • #411
  • Apr 24, 2020 6:30am Apr 24, 2020 6:30am
Quoting DrDave
{quote} Placing the pending order below the EMA is too subtle. Remember, most folks here are looking for a clear trend and retracement with price already below the EMA when making that trend evaluation. So, with no run of down bars, let alone absence of the pullback after the down run below the EMA means too early to be selling.
Point taken, although I would definitely welcome more advanced traders joining the thread. There is no growth without challenge.
Timing Direction Strength
  • #412
  • Apr 30, 2020 4:34am Apr 30, 2020 4:34am
Had a feeling this thread would look so different after not posting in a while lol.

Anyways, I still use this in my system and trading EUR/AUD (1HR) this would net you ALOT of pips. Well over 1000 pips to be a bit more precise.

It works in-line with my system anyways so it was refreshing to see people trading a similar style.

Ignore my arrows on the chart, those aren't relevant right now.

Yellow lines are entries and red lines stop loss.

Red is 50EMA which I use as a filter but 100EMA is above.

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You can lead a horse to water, but you can't make it drink
  • #413
  • Apr 30, 2020 9:18am Apr 30, 2020 9:18am
market seems to be going the opposite direction today
  • #414
  • Apr 30, 2020 9:47am Apr 30, 2020 9:47am
Quoting matthewcyx
market seems to be going the opposite direction today
LOL. Yes, trends end.
You can see it more clearly on M15 with the higher low followed by higher high.
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To free Gazans of Hamas, use whatever it takes.
  • #415
  • Apr 30, 2020 1:21pm Apr 30, 2020 1:21pm
xkwisit2001 I see you've used bearish candles as an entry too, which I think makes sense. I will take it as an example.

Haven't backtested EUR/AUD, but for me AUD/JPY and GBP/USD looks promising:
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(200EMA is added; 2R only; winners are closed some time before NY close)
  • #416
  • May 1, 2020 8:51am May 1, 2020 8:51am
Only a ema and you simply buy and sell, too simple and risky
  • #417
  • May 2, 2020 4:03pm May 2, 2020 4:03pm
Quoting xkwisit2001
Had a feeling this thread would look so different after not posting in a while lol. Anyways, I still use this in my system and trading EUR/AUD (1HR) this would net you ALOT of pips. Well over 1000 pips to be a bit more precise. It works in-line with my system anyways so it was refreshing to see people trading a similar style. Ignore my arrows on the chart, those aren't relevant right now. Yellow lines are entries and red lines stop loss. Red is 50EMA which I use as a filter but 100EMA is above. {image}
Hi
Please would you mind sharing your freehand writing tool. Thank You.
  • #418
  • May 7, 2020 12:55am May 7, 2020 12:55am
USDCAD, yesterday
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  • #419
  • May 12, 2020 2:25am May 12, 2020 2:25am
Hello everyone, how are you guys? has anyone made any trade recently on this strategy? any win?
  • #420
  • May 12, 2020 2:32am May 12, 2020 2:32am
Quoting rickntc
Hello everyone, how are you guys? has anyone made any trade recently on this strategy? any win?
Have you made any trade on it, why don't you share , or try to find a set up using the strategy and share with us?

Cheers
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