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Magic 100

  • #1,981
  • Jan 24, 2021 10:46pm Jan 24, 2021 10:46pm
Quoting JiveTrader
{quote} What candle are you playing off of?
This time i catch the trend early
we have 1st, 2nd signal & super confirm signal
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  • #1,982
  • Jan 25, 2021 12:25am Jan 25, 2021 12:25am
Quoting Kenning
{quote} 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.
could you please tell us a bit more about your D1 Setup? Thank you
  • #1,983
  • Jan 25, 2021 4:18am Jan 25, 2021 4:18am
Quoting Kenning
{quote} 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.
Hey Kenning, i am also interested in your results on daily tf, because i am planning to do the same. Can you share your experience, please?
Pressure shapes Legends
  • #1,984
  • Jan 25, 2021 4:51am Jan 25, 2021 4:51am
Quoting KarlKraus
{quote} Yes, all fair comment - I accept that, of course. Thanks both for what you said and the way you said it.
And I thank you because we can have divergence meanings in a respectful tone!
MetaTrader 4 - so many advantages.
  • #1,985
  • Jan 25, 2021 6:06am Jan 25, 2021 6:06am
So i took 2 trades on E/J. I am not sure about the second one. The signal candle is quite big, but the first entry was fine. I don`t belive the initial R:R (Minotawr sayed 1:3) is working on D1, so what is best for daily?
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Pressure shapes Legends
  • #1,986
  • Jan 25, 2021 8:35am Jan 25, 2021 8:35am
Quoting Juri
So i took 2 trades on E/J. I am not sure about the second one. The signal candle is quite big, but the first entry was fine. I don`t belive the initial R:R (Minotawr sayed 1:3) is working on D1, so what is best for daily? {image}
I couldn't say what is the best R:R at Daily. I would start up with 1:2 at playing safe. Then take a protocol on each and every trade in an Excel sheet. Did it hit 1:2? Would it have taken 1:3. Or only 1:1.5 Then for every week and every month calculate the pips it took and the pips it could have taken with the R:R that functions the best. Of cause take notes of the pair you are trading, because there will be differences.

And then adjust it manually in the beginning. Take a look at the chart and see if there are some pivot points. And then just follow the chart to watch for price action bars.

I am going to make a comprehensive backtest on this strategy soon. I will tell about my findings in the thread.

Why are you trading daily? Because of work?
MetaTrader 4 - so many advantages.
  • #1,987
  • Jan 25, 2021 8:42am Jan 25, 2021 8:42am
Quoting RiskFighter
{quote} I couldn't say what is the best R:R at Daily. I would adjust it manually. Take a look at the chart and see if there are some pivot points. And then just follow the chart to watch for price action bars. I am going to make a comprehensive backtest on this strategy soon. I will tell about my findings in the thread. Why are you trading daily? Because of work?
Hi RiskFighter, thanks. I am curios about your thoughts here. You sound like a "mature" trader

Yes, i have decided to trade daily, due to my regular job.

The crucial part is the SL settings here...If the signal bar is to big, i am not quite sure what to do. Maybe pass?
Pressure shapes Legends
  • #1,988
  • Jan 25, 2021 9:07am Jan 25, 2021 9:07am
I have updated my answer above.

Now I update this post. That is how I work - sorry.

It is often seen, that a big bar is followed by a bar at the same size in the opposit direction. I think that it is some people with loads of money that manipulates something.

At some post OP in the matter fact did tell what he does when a large bar occurs. If the signal bar is very big (he did not specify a size), then he wait to see, if the coming two bars can have the same size in the trend direction. Then he might take the trade. This is the approach I will take.

I will also take a look at RSI, Stocastich, CCI or anything else to see if there is a situation where the two first bars in the trend direction - after the signal bar - starts from an oversold og overbought situation. And then I might trust it. Also check if it cross the boundaries of a channel or a flag. Or is supportet by a nice Fibonacci level? The 200EMA is another support level that can give a strong bounce.

In the matter fact, I would do like the Pilots, make a checklist for the case of a large signal bar, so that I am sure that I think through all the right possibilities before trading it.

Another thing to do is to take the protocol. Would it hit the TP or the Loss. After having notes from some months then you will have some statistichs telling you the percentages for success or failure on which size of bars on which pairs.
MetaTrader 4 - so many advantages.
  • #1,989
  • Jan 25, 2021 9:11am Jan 25, 2021 9:11am
Quoting RiskFighter
I have updated my answer above. It is often seen, that a big bar is followed by a bar at the same size in the opposit direction. I think that it is some people with loads of money that manipulates something. At some post OP in the matter fact did tell what he does when a large bar occurs. If the signal bar is very big (he did not specify a size), then he wait to see, if the coming two bars can have the same size in the trend direction. Then he might take the trade. This is the approach I will take. I will also take a look at RSI, Stocastich, CCI...
I have noted, that very often when a trend have to pass a pivot point or any other resistance, then it happens by use of a large bar which signals the force. Then it is a positive sign that the trend will continue strongly.
MetaTrader 4 - so many advantages.
  • #1,990
  • Jan 25, 2021 9:20am Jan 25, 2021 9:20am
Today only one pair from my watch list took a trade. But it was the best trending pair - GBPUSD. It lost!!
MetaTrader 4 - so many advantages.
  • #1,991
  • Jan 25, 2021 11:56am Jan 25, 2021 11:56am
Quoting havenoidea
{quote} This time i catch the trend early we have 1st, 2nd signal & super confirm signal {image}
trade closed earn a little bit hm...
  • #1,992
  • Jan 25, 2021 8:35pm Jan 25, 2021 8:35pm
Quoting RiskFighter
{quote} Aliens HAS left the trade. Don't write her anymore. Minotawr - the thread starter hasn't been at FF since last summer. He got the Covid and he might be one of the people that died?? I really wish that people all over the world would fear this illness more. Too many people keep ignoring it and thereby feed the pandemic. Xmess7 who wrote a fantastic EA for this strategy, haven't posted in this thread since 1. september 2020. His last post at all was 8. november 2020. He was top 1% High impact member with 4,748 posts at FF. What became of him??...
I have heard from Xmess7. Appearently he is busy in some Bitcoin forum. I use his EA. In this strategy you cannot just let an EA run constantly. It must be fed with the pairs that are trending. So I feed it daily and if I dont have time for that, then there is no trading.
MetaTrader 4 - so many advantages.
  • #1,993
  • Jan 26, 2021 6:08am Jan 26, 2021 6:08am
Long Nzdjpy
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  • #1,994
  • Edited 2:11pm Jan 26, 2021 1:50pm | Edited 2:11pm
i think it is too early to enter Usdchf! add this baby to watchlist
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  • #1,995
  • Jan 27, 2021 8:56am Jan 27, 2021 8:56am
Short Eurgbp
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  • #1,996
  • Jan 28, 2021 4:29am Jan 28, 2021 4:29am
I had a buy on GBP/NZD on H1 tf. If it breaks the main resistance i will let the profits run...
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Pressure shapes Legends
  • #1,997
  • Jan 28, 2021 4:59am Jan 28, 2021 4:59am
Quoting Juri
I had a buy on GBP/NZD on H1
Well done,
  • #1,998
  • Jan 28, 2021 2:11pm Jan 28, 2021 2:11pm
hello all, new user here, nice thread, very simple and interesting strategy. i'm still reading the thread, at the same time i'm looking the EUR/USD 1h. we just had some bad short singals consecutive (like 3-4) or it's just me? sorry i'm still learning.
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  • #1,999
  • Jan 28, 2021 2:40pm Jan 28, 2021 2:40pm
sorry, image wasn't so clear and i also made an error.

circle for signal candle, arrow for entry candle:
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  • #2,000
  • Jan 29, 2021 7:48am Jan 29, 2021 7:48am
Quoting RiskFighter
{quote} I have heard from Xmess7. Appearently he is busy in some Bitcoin forum. I use his EA. In this strategy you cannot just let an EA run constantly. It must be fed with the pairs that are trending. So I feed it daily and if I dont have time for that, then there is no trading.
Hey, how do you feed the EA?
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