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Magic 100

  • #1,081
  • Jul 8, 2020 3:34am Jul 8, 2020 3:34am
Hey Guys,

I've been getting a lot of suggestions and advice lately, here and on PM. "Why you donīt use this indi or another? Why not doing this instead of that?"

Donīt get me wrong, i am thankfull for your inputs and ideas. Hopefully these ideas can help you and everyone else to become a better trader.

But what will not happen is, that I will change my style of trading. And not even a little thing.

Magic100 is stable and profitable for me for many years. Believe me, the last thing i will do is to change my "running system".

I hope you will understand that.
  • #1,082
  • Jul 8, 2020 3:50am Jul 8, 2020 3:50am
  • #1,083
  • Jul 8, 2020 4:09am Jul 8, 2020 4:09am
Quoting Minotawr
Hey Guys, I've been getting a lot of suggestions and advice lately, here and on PM. "Why you donīt use this indi or another? Why not doing this instead of that?" Donīt get me wrong, i am thankfull for your inputs and ideas. Hopefully these ideas can help you and everyone else to become a better trader. But what will not happen is, that I will change my style of trading. And not even a little thing. Magic100 is stable and profitable for me for many years. Believe me, the last thing i will do is to change my "running system". I hope you will understand...
Respect
  • #1,084
  • Jul 8, 2020 6:15am Jul 8, 2020 6:15am
This seems interesting.
Thanks for the thread. I feel like a lot of threads overcomplicate things and start drawing imaginary lines everywhere.

At the end of the day, we are trading forex, which is essentially trading currencies. Nothing more than that. Something like this, going with the trend with a good R:R and trading on Pullbacks makes sense.
It seems to have potential. I just have one question though: Which pairs are usually traded with this method?
  • #1,085
  • Jul 8, 2020 6:15am Jul 8, 2020 6:15am
Quoting Minotawr
{quote} Hi Callidor, it looks like you piking wrong entrys. Please read the thread again. Thanks.
???

The only wrong entry was in USDMXN (over the 100line). The downtrend was very fast and i have think, the Price turns over the line down.

All the other entrys were good!?!?

Where has cadchf no trend? Look Monday... more downhill is almost impossible! The Price on the way to the lows 0.6915.

Afterwards it is Always easy to say.
  • #1,086
  • Jul 8, 2020 6:48am Jul 8, 2020 6:48am
Quoting Callidor
{quote} ??? The only wrong entry was in USDMXN (over the 100line). The downtrend was very fast and i have think, the Price turns over the line down. All the other entrys were good!?!? Where has cadchf no trend? Look Monday... more downhill is almost impossible! The Price on the way to the lows 0.6915. Afterwards it is Always easy to say.
Where do you see trend? I only see a range after down trend.

https://abload.de/img/1236djb0.jpg
  • #1,087
  • Jul 8, 2020 7:33am Jul 8, 2020 7:33am
Hi Minotawr,

This is entry You took some time ago. I have a question, is this valid entry what I marked in yelow circle?
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYH1.jpg Size: 225 KB
  • #1,088
  • Jul 8, 2020 7:36am Jul 8, 2020 7:36am
Quoting Callidor
{quote} ??? The only wrong entry was in USDMXN (over the 100line). The downtrend was very fast and i have think, the Price turns over the line down. All the other entrys were good!?!? Where has cadchf no trend? Look Monday... more downhill is almost impossible! The Price on the way to the lows 0.6915. Afterwards it is Always easy to say.
Hey Callidor, no need to be upset.

EUR/NZD was a very good one. I for my self was in this one too. How come you didn't get it to the 3R TP?

CAD/CHF wasnīt a clear move. however your sell entry should be on the short yellow line.

Attached Image (click to enlarge)
Click to Enlarge Name: notluck1.png Size: 30 KB


take care
  • #1,089
  • Jul 8, 2020 7:56am Jul 8, 2020 7:56am
Quoting rafaor
Hi Minotawr, This is entry You took some time ago. I have a question, is this valid entry what I marked in yelow circle? {image}
Hi, not valid, look time 00:00h, he said frankfurt and london session.

https://market24hclock.com/
  • #1,090
  • Jul 8, 2020 9:16am Jul 8, 2020 9:16am
Hi

Just bringing you up to date with my trades all attached

1 Jul - those two trades with the big lots were rogue entered with a robot that i am also trying, wasn't supposed to be happening so i'm not including them in my results, still too many trades, but I get better as you can see from the subsequent days.

I also have decided to trade with a bigger lot size in accordance with the real account which I will trade when I have proved I can trade this system properly.
I am also inclining more towards using the 4H time frame because I can't be watching my screen every hour on the hour.

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  • #1,091
  • Jul 8, 2020 9:32am Jul 8, 2020 9:32am
Quoting Minotawr
Hey Guys, I've been getting a lot of suggestions and advice lately, here and on PM. "Why you donīt use this indi or another? Why not doing this instead of that?" Donīt get me wrong, i am thankfull for your inputs and ideas. Hopefully these ideas can help you and everyone else to become a better trader. But what will not happen is, that I will change my style of trading. And not even a little thing. Magic100 is stable and profitable for me for many years. Believe me, the last thing i will do is to change my "running system". I hope you will understand...
People cannot help themselves sometimes, this system is so easy if you implement it with sensible price action, you have to trust that when the move is made and you see the trend, higher highs higher lows or vice versa, you should pull the trigger set your entry and target stop and see where you think price will go to for a profit. This system gives you an edge, it is not without losses, that's the cost of doing business.

Thank you Minotawr
  • #1,092
  • Jul 8, 2020 12:15pm Jul 8, 2020 12:15pm
EA UPDATE: Version 12 (FOLKS from please PM me with EA issue)

Download is ready at:
https://github.com/xmess7/Magi100

Added new input: setTradeDirection. You can direct the EA to trade in one direction.
Determine on a higher TF the general trend direction and set the input setTradeDirection for "long" or "short".
default is "either"

Jess
PS: Latest EA version and info can be found at https://github.com/xmess7/Magi100
Attached File(s)
File Type: txt POST_MAG100EA_UPLOAD.txt   < 1 KB | 453 downloads
Our AWESOME IMAGINATION is the true holy grail!
  • #1,093
  • Jul 8, 2020 12:36pm Jul 8, 2020 12:36pm
Quoting xmess7
EA UPDATE: Version 12 (FOLKS from please PM me with EA issue) Download is ready at: https://github.com/xmess7/Magi100 Added new input: setTradeDirection. You can direct the EA to trade in one direction. Determine on a higher TF the general trend direction and set the input setTradeDirection for "long" or "short". default is "either" Jess PS: Latest EA version and info can be found at https://github.com/xmess7/Magi100 {file}
could you please provide the link of ea on myfxbook if any
thx
  • #1,094
  • Jul 8, 2020 2:17pm Jul 8, 2020 2:17pm
Doing some backtesting. What is wrong with these 3 entries? Would you've not taken them? why?

Attached Image (click to enlarge)
Click to Enlarge Name: Image2.png Size: 131 KB
  • #1,095
  • Jul 8, 2020 3:42pm Jul 8, 2020 3:42pm
Quoting tradista
Doing some backtesting. What is wrong with these 3 entries? Would you've not taken them? why? {image}
Hey my friend, thanks for the questions. The first one is outside my trading window. The second is almost on the high, i would look for a deeper retrace.The third i would take
  • #1,096
  • Jul 8, 2020 3:47pm Jul 8, 2020 3:47pm
GBP/USD and GBP/JPY with very nice setups today
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GBPJPYH1.png Size: 30 KB
  • #1,097
  • Jul 8, 2020 3:52pm Jul 8, 2020 3:52pm
EUR/NZD had very nice moves in the last days. This one was a loss, i missed a better entry on the second arrow. Definitely on my WL for tomorrow.
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZDH1.png Size: 61 KB
  • #1,098
  • Jul 8, 2020 4:21pm Jul 8, 2020 4:21pm
Quoting Minotawr
{quote} Hey my friend, thanks for the questions. The first one is outside my trading window. The second is almost on the high, i would look for a deeper retrace.The third i would take
thank you, I will keep practicing
  • #1,099
  • Jul 8, 2020 4:29pm Jul 8, 2020 4:29pm
Quoting Minotawr
EUR/NZD had very nice moves in the last days. This one was a loss, i missed a better entry on the second arrow. Definitely on my WL for tomorrow. {image}
would be nice if you started a trade explore
  • #1,100
  • Jul 8, 2020 4:50pm Jul 8, 2020 4:50pm
Quoting Minotawr
{quote} Hey Callidor, no need to be upset. EUR/NZD was a very good one. I for my self was in this one too. How come you didn't get it to the 3R TP?
My SL was to high away from candle high:

Attached Image (click to enlarge)
Click to Enlarge Name: 2.png Size: 43 KB

(The buy is another setup!!!)

Thats why 3r to big!

I dont know when i have to give air between candle and stop!

Minotawr, you set the stop sometimes directly on candle high/low and on another pictures you gives air!

Can you please explain?
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