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Magic 100

  • #2,361
  • Mar 9, 2023 10:51am Mar 9, 2023 10:51am
GBPNZD H1
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  • #2,362
  • Mar 9, 2023 11:22am Mar 9, 2023 11:22am
GBPCAD H1, closed at TP1
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  • #2,363
  • Mar 9, 2023 3:50pm Mar 9, 2023 3:50pm
Quoting pusztafie
GBPCAD H1, closed at TP1 {image}
Nice. Good that you made more room at the SL this time.

I made no trades today.
MetaTrader 4 - so many advantages.
  • #2,364
  • Mar 9, 2023 9:16pm Mar 9, 2023 9:16pm
Quoting pusztafie
GBPNZD H1 {image}
The trade on GBPNZD was planned while it was ranging - and in the top of that range. That is not following the rules and bit of a lucky punch. And the next 2 bars were very close to take you out.

OP said this in post #1: All you need is a strong trend, a 100EMA and common sense. We only take trades in the direction of the trend!

So this strategy is about finding a strong trend like the GBPCAD trade you made and then take trades.
MetaTrader 4 - so many advantages.
  • #2,365
  • Mar 9, 2023 10:06pm Mar 9, 2023 10:06pm
I made this mornings overview. Those are the pairs that are candidates right now om TF H1. All are trending. Most are also tradeable on H4.

But note, I am using EMA50. Anyway they are trending no matter which EMA you are using.

AUDCHF Short
AUDJPY Short
CADCHF Short
EURAUD Long
EURCAD Long
EURCHF Long
EURNZD Long
GBPAUD Long
GBPCAD Long
GBPCHF Short
GBPNZD Long
NZDCHF Short
NZDJPY Short
USDCAD Long
MetaTrader 4 - so many advantages.
  • #2,366
  • Edited 10:31pm Mar 9, 2023 10:17pm | Edited 10:31pm
Quoting RiskFighter
I made this mornings overview. Those are the pairs that are candidates right now om TF H1. All are trending. Most are also tradeable on H4. But note, I am using EMA50. Anyway they are trending no matter which EMA you are using. AUDCHF Short AUDJPY Short CADCHF Short EURAUD Long EURCAD Long EURCHF Long EURNZD Long GBPAUD Long GBPCAD Long GBPCHF Short GBPNZD Long NZDCHF Short NZDJPY Short USDCAD Long
A small hint. Making that list of strong trending pairs of H1 gives me the daily trades on other tools than the Magic100 also. I go to M15 and trade only in the direction of the H1 trend. That function is built into some of my robots too.

The reason that I go to M15 is, that I am normally swing trading and that cannot be done at H1, because the swing is allready ongoing. But on lower TF it is possible to get in after the reversals.

By the way, I will not be trading manually today. I have some stuff to do and I am also a bit afraid of fridays.
MetaTrader 4 - so many advantages.
  • #2,367
  • Mar 11, 2023 2:44am Mar 11, 2023 2:44am
There is a lot of trending in the Forex market right now.
This is the list of pairs that I will trade on monday - all trending at H1:

AUDCHF Short
AUDJPY Short
CADCHF Short
CADJPY Short
EURAUD Long
EURCAD Long
EURCHF Short
EURUSD Long
GBPAUD Long
GBPCAD Long
GBPNZD Long
NZDCAD Long
NZDCHF Short
NZDJPY Short
USDCAD Long
USDCHF Short
MetaTrader 4 - so many advantages.
  • #2,368
  • Mar 13, 2023 1:22am Mar 13, 2023 1:22am
one trade a day
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  • #2,369
  • Mar 13, 2023 2:12am Mar 13, 2023 2:12am
Quoting ingo3344
one trade a day {image}
And it is going very well. Fine choice.
MetaTrader 4 - so many advantages.
  • #2,370
  • Edited 2:26am Mar 13, 2023 2:15am | Edited 2:26am
And I have no doubt, that it is possible to make a fine living makin one pair every day. But I sit here anyway and must have something to do, so I trade many pairs.
As this is the first time that I trade this strategy, I only trade 0.01 lot at each trade. But here are the 6 trades that I chosed today.

As I read the thread the winning percent is about 45%. So loosing 3 trades and winning 3 trades at 1:3 provides a profit at 6%. Nice.
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MetaTrader 4 - so many advantages.
  • #2,371
  • Mar 13, 2023 2:18am Mar 13, 2023 2:18am
And by the way - I am a loucy manual trader. Never dared to go for than 1:2, even at a demo account. But that is history, I am going for 1:3 at this strategy.
MetaTrader 4 - so many advantages.
  • #2,372
  • Edited 4:24am Mar 13, 2023 2:42am | Edited 4:24am
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after winning you can now make some calm trades
  • #2,373
  • Mar 13, 2023 4:26am Mar 13, 2023 4:26am
after the 2 strong candles, I think it goes further down
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  • #2,374
  • Mar 13, 2023 5:40am Mar 13, 2023 5:40am
USDJPY H1
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  • #2,375
  • Mar 13, 2023 6:39am Mar 13, 2023 6:39am
but would have run into the SL
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  • #2,376
  • Mar 14, 2023 3:34pm Mar 14, 2023 3:34pm
5 trades today. Lost 4 and one is still running.
MetaTrader 4 - so many advantages.
  • #2,377
  • Mar 14, 2023 11:56pm Mar 14, 2023 11:56pm
Which trades?
  • #2,378
  • Mar 16, 2023 11:44am Mar 16, 2023 11:44am
Quoting RiskFighter
5 trades today. Lost 4 and one is still running.
could you pls provide which trades which time, all from magic 100 method?
  • #2,379
  • Mar 16, 2023 11:55am Mar 16, 2023 11:55am
Quoting pusztafie
USDJPY H1 {image}
nice.
could you pls share your template, or the 3 indicators on chart?
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  • #2,380
  • Mar 16, 2023 1:49pm Mar 16, 2023 1:49pm
Quoting ntk
{quote} nice. could you pls share your template, or the 3 indicators on chart? {image}
See here

https://www.forexfactory.com/thread/...o-read-markets?
You can lead a horse to water, but you can't make it drink
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