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Magic 100

  • #1,961
  • Jan 22, 2021 1:55am Jan 22, 2021 1:55am
Quoting cgninvesting
{quote} Nice trades @Havenoidea! keep it up mate! Best, CGN
thanks,
  • #1,962
  • Edited 5:48am Jan 22, 2021 1:56am | Edited 5:48am
Quoting havenoidea
{quote} trade updates +31pips up till now {image}
hm something's not right, still need to improve, i close the trade @1.2158, gain something better then nothing ;(

alright im trying to catch the trend early, it is different then those trades in the past ! still base on 100 & price
Short Gbpnzd. it is not a good idea hm...
  • #1,963
  • Jan 22, 2021 2:56pm Jan 22, 2021 2:56pm
Quoting ingo3344
Maybe we stop blaspheming about some people here and stick to the system, everyone has his own opinion, which he can write why then immediately hit it, everyone can make his own opinion. here a help which helps me very much, a 55 lwma with an offset of 2 I find additionally very interesting. 100in red {image}
Hello, specifically, the moving average line is the one that approaches the candles (at prices), it gives us a false feeling that the candles are approaching the lines. The candles (or the price) do not go towards the lines. The moving average is late information, but it helps us to see where prices are going, but late. Regards.
  • #1,964
  • Jan 23, 2021 8:17am Jan 23, 2021 8:17am
Yes, that the indis can only see the past is also clear to me. is also just a hint . the best is the experience
  • #1,965
  • Jan 23, 2021 11:29am Jan 23, 2021 11:29am
Subscribing to this thread because I plan to try it in the future.
Very simple but I'm wondering about its % of winning trades

In terms of profitability, this strategy looks like one where you could work with
2 open trades at the same time.

You place 2 orders at the same time with the same stop loss but one has 2x the take profit.
Your first order, after it reaches the 1x risk take profit, move the stop loss of the remaining open
trade to 1x take profit and aim for 2x. Could be highly profitable
  • #1,966
  • Jan 23, 2021 4:57pm Jan 23, 2021 4:57pm
Quoting iulianivg
Very simple but I'm wondering about its % of winning trades

Like anything else reliable, based on sensible principles, that works, its win-rate will vary according to 3 main factors:

1. The strength of the trend (you could say that the angle of the MA-100 is roughly equivalent to this)

2. The time-frame you use (as always, longer time-frames give fewer trades and a higher win-rate and generally bigger wins, too - it does better on H4 and daily time-frames than on H1 and M15, obviously, as you'd expect)

3. Your skill and experience at reading the price action


Quoting iulianivg
You place 2 orders at the same time with the same stop loss but one has 2x the take profit. Your first order, after it reaches the 1x risk take profit, move the stop loss of the remaining open trade to 1x take profit and aim for 2x. Could be highly profitable

As long as you use a decent trading platform (not MetaTrader) you can do all that automatically on entering the position. Enter 2 lots, take one lot off at 1R and move the stop-loss to breakeven on the other (and then trail it, if you want).

That reduces risk and increases win-rate, but it also reduces the size of some potential wins, of course, because sometimes the second lot will get stopped out in circumstances when if you hadn't moved the SL to breakeven it would have turned round in the trend direction and done much better. Still, it could easily be a very sensible way to trade this, for many people.
  • #1,967
  • Edited Jan 24, 2021 2:13am Jan 23, 2021 11:38pm | Edited Jan 24, 2021 2:13am
Quoting xkwisit2001
{quote} It's my occupation but I don't trade each day, I swing trade mainly and build many positions which is why this strategy helps me as I can enter on a new HTF leg and ride the waves adding new positions each time. As I'm day trading, and challening myself with a small account thats why I TP. Otherwise I'd have kept them open and started looking for more selling opportunities. Thing is, it might not suit other people which is why I find forex so amazing but since lockdown I've had nothing else to do ha
Hi xkwisit2001
I have read with interest about your strategy with Magic100, which you use to build up many positions when HTF is continuing in a positive direction. I guess then, that you are not exiting at any kind of signal in the 1 hour TF, but you will get one exit signal in a higher timeframe, which make you exit everything. That signal in HTF will tell you, that now the trend is over. That idea is nothing less than brilliant. Can you elaborate a little about the kind of exit signals you are looking for? Is it only the Fibonacci and you feeling for the trade at HTF ??

EDIT: Found an answer from you at post 529.: Hi Mate, I use weekly pivot levels to help exit my trades .
MetaTrader 4 - so many advantages.
  • #1,968
  • Jan 24, 2021 1:17am Jan 24, 2021 1:17am
I am reading this thread thru for the 3rd. time. Want to stress that the original system says this about Stop loss: SL shall be set below/beyond the signal bar. If the signal bar is very small, then add to the SL so that the size is reasonable. This is one of the keys to the systems profability.

Some people in the trend suggest that you should use the ATR for stoploss and some (Aliens) that the SL should be placed under the latest swing high/low. THIS IS NOT part of this system. And note, that the inventor has been trading the system for 5 years and was very profitable.

Also note, that BE is not mentioned in the rules.

Set your trade as a pending order. Believe in it. And when it has been set, then you can leave the computer for the day if you wish. You have done your work.

Of cause everybody are welcome to adjust the system to their own trading behavior, but please don't change the overall rules in your writings. Doing that will move the system away from the original rules and out of control. Hence at some point - the system has changed and is not profittable as it was at the inventor.
MetaTrader 4 - so many advantages.
  • #1,969
  • Jan 24, 2021 3:52am Jan 24, 2021 3:52am
Quoting RiskFighter
I am reading this thread thru for the 3rd. time. Want to stress that the original system says this about Stop loss: SL shall be set below/beyond the signal bar. If the signal bar is very small, then add to the SL so that the size is reasonable. This is one of the keys to the systems profability. Some people in the trend suggest that you should use the ATR for stoploss and some (Aliens) that the SL should be placed under the latest swing high/low. THIS IS NOT part of this system. And note, that the inventor has been trading the system for 5 years...
Hello, I agree with you, I think the same way.
  • #1,970
  • Jan 24, 2021 4:03am Jan 24, 2021 4:03am
This won’t work, because getting this close requires you to have the correct way fundamentally... which is not discussed once in here....
  • #1,971
  • Jan 24, 2021 10:13am Jan 24, 2021 10:13am
Thanks to the OP for creating this thread. This method is very similar to what I already do.

Have any posters here tried the Pareto method of MM with this strategy instead of shooting for 3:1 RR?
  • #1,972
  • Jan 24, 2021 1:04pm Jan 24, 2021 1:04pm
Quoting RiskFighter
THIS IS NOT part of this system. And note, that the inventor has been trading the system for 5 years and was very profitable. Also note, that BE is not mentioned in the rules.

It was in the original version of the system, though (just not mentioned in Minotawr's original post here).

I think very few if any of the thread's participants are aware of this method's original source, and other versions.


Quoting RiskFighter
Of cause everybody are welcome to adjust the system to their own trading behavior, but please don't change the overall rules in your writings.

Minotawr did (and in doing so, he made it simpler, easier to follow, and much more suitable for beginners).
  • #1,973
  • Jan 24, 2021 1:15pm Jan 24, 2021 1:15pm
Quoting Kenning
Thanks to the OP for creating this thread. This method is very similar to what I already do. Have any posters here tried the Pareto method of MM with this strategy instead of shooting for 3:1 RR?
80/20 MM - can you elaborate how to apply to the magic system - you mean first take profit is 80% of the position size, remaining 20% is trail?

.
  • #1,974
  • Jan 24, 2021 1:33pm Jan 24, 2021 1:33pm
Quoting Shaishen
{quote} 80/20 MM - can you elaborate how to apply to the magic system - you mean first take profit is 80% of the position size, remaining 20% is trail? .
Yes so for example if I risk 3% per position

  1. Trade 1 is 2.4% risk exited at 1:1 RR and move Stop to B/E
  2. Trail the remaining 0.6% trade at 1R increments and let the market take it out

  • #1,975
  • Jan 24, 2021 4:19pm Jan 24, 2021 4:19pm
Quoting KarlKraus
{quote} It was in the original version of the system, though (just not mentioned in Minotawr's original post here). I think very few if any of the thread's participants are aware of this method's original source, and other versions. {quote} Minotawr did (and in doing so, he made it simpler, easier to follow, and much more suitable for beginners).
Hello Karl

Thank you for your post.

Sorry, you might think that you know what was in the OP brain, but that doesn't count. There is a set of described rules which he defended day after day. Yes he did make a BE once i a while, but seldom and it was not part of the strategy. He has underlined that you will be better of in the long run, if you don't use BE.

All systems goes hundres of years back, so who took something from whoom. That doesn't count. OP made his system, of cause under influence of everything that he ever learned. That system is described in post 1 - mainly. We shall all be curious about what we can do to make it better, but we shall keep the original system which was profittable for 5 years. We saw how "Aliens" kind of took over the OP role and claimed that the original system was faulty about stoploss. That is a very good example of how some people can change the system and suddently there are no evidence at all that this new version of the system will work. Then we lost the original money tree.

Do I follow those original rules. Sure - 100% for the time being. But i have countless ideas to improve the rules and I will. I am also a robot builder. Why trade on a small scale if you can have a robot to trade on a large scale. But I will build everything on the shoulder of the originals and just add on. Then I think that it is fine if we talk about improvements, but we must always remember the rules and not change the thread.

Thank you again for returning to me so that we can have this enriching discussion :-)
MetaTrader 4 - so many advantages.
  • #1,976
  • Jan 24, 2021 4:19pm Jan 24, 2021 4:19pm
Long Nzdjpy
Attached Image (click to enlarge)
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  • #1,977
  • Jan 24, 2021 4:33pm Jan 24, 2021 4:33pm
OP mentioned that trading cluster is from Frankfurt open and till London close. And he mention that you must have prepared by finding the forex pairs to trade on beforehand. Now my question to all of you is:

How many of you are getting up at around 6:00 GMT/UTC in order to walk thru 28 Forex pairs and some indexes?? It could be interesting to hear

I do it in the evening (Frankfurt time) and get up early to confirm before opening of Frankfurt.

Tomorrow I will trade EURJPY, EURNZD, GBPUSD and GBPJPY. Prepared today but I go over it and confirm early in the morning.

OK, I write like I have been trading this for a long time. No, have done some demo, but tomorrow is my first day starting with a small amount of cash.
MetaTrader 4 - so many advantages.
  • #1,978
  • Jan 24, 2021 4:52pm Jan 24, 2021 4:52pm
Quoting RiskFighter
OP mentioned that trading cluster is from Frankfurt open and till London close. And he mention that you must have prepared by finding the forex pairs to trade on beforehand. Now my question to all of you is: How many of you are getting up at around 6:00 GMT/UTC in order to walk thru 28 Forex pairs and some indexes?? It could be interesting to hear I do it in the evening (Frankfurt time) and get up early to confirm before opening of Frankfurt. Tomorrow I will trade EURJPY, EURNZD, GBPUSD and GBPJPY. Prepared today but I go over it and confirm early...
I live trade something very similar to this but only using daily charts as I have other businesses to run. My brokers EOD (UK trader) is 11PM so it takes me around 30 minutes a day to look at 20 pairs, silver, gold and BTCUSD. I haven't time to daytrade this but I would imagine the Frankfurt-London window should provide most liquidity. G/U looks a good setup on the H1.
  • #1,979
  • Jan 24, 2021 5:05pm Jan 24, 2021 5:05pm
Quoting RiskFighter
Sorry, you might think that you know what was in the OP brain, but that doesn't count. There is a set of described rules which he defended day after day. Yes he did make a BE once i a while, but seldom and it was not part of the strategy. He has underlined that you will be better of in the long run, if you don't use BE. All systems goes hundres of years back, so who took something from whoom. That doesn't count.

Yes, all fair comment - I accept that, of course. Thanks both for what you said and the way you said it.
  • #1,980
  • Jan 24, 2021 7:37pm Jan 24, 2021 7:37pm
Quoting havenoidea
Long Nzdjpy {image}
What candle are you playing off of?
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