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Magic numbers question 9 replies

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Attachments: Magic 100
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Magic 100

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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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
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
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!
Read post #1 !! Do it again 10 times before you ask.
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
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?
Read post #1 !! Do it again 10 times before you ask.
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
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.
Read post #1 !! Do it again 10 times before you ask.
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.
Read post #1 !! Do it again 10 times before you ask.
Today only one pair from my watch list took a trade. But it was the best trending pair - GBPUSD. It lost!!
Read post #1 !! Do it again 10 times before you ask.
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...
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.
Read post #1 !! Do it again 10 times before you ask.
Long Nzdjpy
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i think it is too early to enter Usdchf! add this baby to watchlist
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Short Eurgbp
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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
Quoting Juri
I had a buy on GBP/NZD on H1
Well done,
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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sorry, image wasn't so clear and i also made an error.

circle for signal candle, arrow for entry candle:
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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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