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Magic 100

  • #2,501
  • Dec 27, 2023 11:01pm Dec 27, 2023 11:01pm
Quoting havenoidea
Long Audjpy this is long term long position. i dont reallie like this much. waiting time is too long {image}
Attached is the weekly to give a better overview. It seems to me, that you are buying against a strong resistance. I expect it to break it - but might take some time. So let's see how it goes.
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MetaTrader 4 - so many advantages.
  • #2,502
  • Dec 27, 2023 11:09pm Dec 27, 2023 11:09pm
Quoting havenoidea
Long Audjpy this is long term long position. i dont reallie like this much. waiting time is too long {image}
Drawing a channel - on the weekly, it seems to be ready for going high. And yes - there will waiting time.
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MetaTrader 4 - so many advantages.
  • #2,503
  • Dec 27, 2023 11:23pm Dec 27, 2023 11:23pm
Quoting Minotawr
Folks, i will share with you my results for April so far. This is not a show off, since is not empressive as hell. This is just the power of MM and RM. That`s why is 1:3 RR is so important. Profit Trades overall (% of total) are just about 41.46%. But your account is f*cking growing. And that's all that matters! Imagine doing this day by day, where you will end, he? Be consistent, believe in your self and you will succeed. {image}
This indicate close to 10 trades a day. A shame that OP is not around anymore.

I might try this strategy again. Did not have succes the last time. But for now - it's christmas and all activities is on Demo until week 2 in the new year.
MetaTrader 4 - so many advantages.
  • #2,504
  • Edited 12:42am Dec 28, 2023 12:00am | Edited 12:42am
I just had an idea. We often ask if a strategy works. I will test it by building a test robot. But I will not just put on the robot blindly to some pairs - as we normally does.

I will search forex pairs and find some time spans where there were a steep trend on H4. I will attach the robot to that exact time span to see if trading the strategy would have been profitable. I will trade on H1 and M30 and I will test with R:R 1:2 and 1:3.

So as I would in real trading find the trend on H4 and trade on lower timeframes.

So this will be cherry picking the creme on historical data. And in order for the manual trader to have that kind of result in the future, you will have to:

  1. Be very clever to find these cherry spans on beforehand and then trade them.
  2. Be able to follow the strategy 100% and take ALL TRADES - just like the test robot does.


So this should once and for all reveal if trading this strategy 100% as OP described it in post #1, will be able to make the profit.

This will be a pretty exiting experiment and I will share it here. The work will take place the coming days until New Year.

Give this post a like if you will follow the work.

MetaTrader 4 - so many advantages.
  • #2,505
  • Dec 28, 2023 2:15am Dec 28, 2023 2:15am
Quoting RiskFighter
I just had an idea. We often ask if a strategy works. I will test it by building a test robot. But I will not just put on the robot blindly to some pairs - as we normally does. I will search forex pairs and find some time spans where there were a steep trend on H4. I will attach the robot to that exact time span to see if trading the strategy would have been profitable. I will trade on H1 and M30 and I will test with R:R 1:2 and 1:3. So as I would in real trading find the trend on H4 and trade on lower timeframes. So this will be cherry picking...
OK - Imade the test robot. Here is the first test of the test. I have some things to work on still. So this is just to show, that things are happening.

When I am ready you will get the chart setups and results on different timeframes and R:R.
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MetaTrader 4 - so many advantages.
  • #2,506
  • Dec 28, 2023 1:59pm Dec 28, 2023 1:59pm
OK. I used the day to test this strategy. I built the testrobot using the exact rules as stated in #1. Then I tested running the robot on time spans on H1 while H4 was trending.

My findings:

  1. If you find a nice trend on H4, then you can trade the strategy with nice profit on H1.
  2. You cannot blindly trade it. You need to have some supporting indicators to indicate a trend.

So it is hard work to be profittable by this strategy, but it can be done. If you are good at finding trends on H4 you can make money on H1. But if you choose the wrong signals on H4 you will lose.

Of cause you can trade the trends directly at H1 without H4 - as OP suggests, but identifying the trend on H4, then you have a much longer timespan to trade.

So the challenge is the usual. How do you find the start of a trend. I will suggest the cross of Moving averages on H4 where you can trade the first pullback. As exit I would investigate use of the Heiken_Ashi_Smothed indicator in stead of R:R or as a supplement.

But - I am a lousy manual trader and catching the beginning of a trend is hard for a robot, so I will not go any further with this project.

MetaTrader 4 - so many advantages.
  • #2,507
  • Dec 28, 2023 5:18pm Dec 28, 2023 5:18pm
On the other hand, I could give it a go ;O)

This is my channel strategy. I draw a channel and if it is wide, then I divide it with a line in the middle. Note how perfect the middle line work as a S/R line. So in this case, I assume that the H4 chart provides a short signal and that it will exit around the middle line. Look at the H1. There are pips to get. If I am lucky the middle line will be broken and the price will go to the buttom line. Of cause I am trading against the trend, but that can give money too.

I will let the colour of the Smoothed Heiken Ashi dicide when the H4 signal has ended, and until then I will trade the Magic100 from Post#1 on the H1 TF.

I will put on the test robot in live. Of cause it will be on demo. Of cause tomorrow is the very last trading day in this year, so nothing much will happen.
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MetaTrader 4 - so many advantages.
  • #2,508
  • Dec 29, 2023 8:30am Dec 29, 2023 8:30am
Got it.
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MetaTrader 4 - so many advantages.
  • #2,509
  • Dec 29, 2023 2:26pm Dec 29, 2023 2:26pm
Quoting RiskFighter
I will test with R:R 1:2 and 1:3.


You don’t learn what you need to know, that way.

To learn what you need to know, and to understand why professionals have been using this system and variants of it for more than a century, you need to test R=0.75 and R=1.0.

This is far more instructive and interesting (and beneficial!).
  • #2,510
  • Jan 4, 2024 2:48pm Jan 4, 2024 2:48pm
For me today a beautiful fatigue candle
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  • #2,511
  • Jan 4, 2024 3:11pm Jan 4, 2024 3:11pm
Quoting ingo3344
Számomra ma egy gyönyörű fáradtsággyertya {image}
Super trade, suitable for textbooks, congratulations!
  • #2,512
  • Jan 4, 2024 4:04pm Jan 4, 2024 4:04pm
chfjpy with entry
  • #2,513
  • Jan 4, 2024 10:35pm Jan 4, 2024 10:35pm
Long Eurjpy
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  • #2,514
  • Jan 5, 2024 2:04am Jan 5, 2024 2:04am
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  • #2,515
  • Jan 9, 2024 8:45am Jan 9, 2024 8:45am
Quoting KarlKraus
{quote} You don’t learn what you need to know, that way. To learn what you need to know, and to understand why professionals have been using this system and variants of it for more than a century, you need to test R=0.75 and R=1.0. This is far more instructive and interesting (and beneficial!).
Hello Karl.

You even personally recommended me 1:1 in the Prop Trading Topic, risking 0.25% per trade.

I've backtested the strategy for some month of 2023 for only trading the GBP/USD. But that didn't look promising. What is the period over how many markets over how many trades here to be one of the "professional" traders you refer to? So without knowing that, there are still numerous variables. So how do you verify the system is profitable, given the facts it could be executed in a complete different way.

Let's say Trader 1 is trading it over, for example, 12 months, trading 28 currency pairs and taken every single valid signal that the system gave.

Trader 1 ends up profitable

Say Trader 2 (me) is trading it over a 3 month interval (in which period he wants/needs to be profitable in order to be able to make a living from it). He is only trading GBP/USD, has a limited time per day to watch/execute any valid signal found. Therefore, not every signal the system provides is probably traded during the day

Trader 2 ends up losing

So two trader's, two different results. One will say it's profitable, one not.

So. Is there perhaps an EA to be able to test this system better so that you don't have to manually scan and cherry pick signals?
  • #2,516
  • Jan 9, 2024 10:23am Jan 9, 2024 10:23am
Eu today small trade and went out a little earlier
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  • #2,517
  • Jan 9, 2024 10:56am Jan 9, 2024 10:56am
Quoting ingo3344
Eu today small trade and went out a little earlier {image}
Looks like the close of the bullish candle you entered was not below the 100 EMA?

Quote
Sell: Price is under the 100EMA, you place a sell order under the green candle.
  • #2,518
  • Jan 9, 2024 11:58am Jan 9, 2024 11:58am
I don't trade according to the 100 strategy anymore, I like to look for the exhaustion candle
  • #2,519
  • Jan 10, 2024 12:04pm Jan 10, 2024 12:04pm
Quoting ingo3344
I don't trade according to the 100 strategy anymore, I like to look for the exhaustion candle
Ah. Okay.
  • #2,520
  • Jan 10, 2024 2:31pm Jan 10, 2024 2:31pm
There were nice starts today in the GU, EU and UJ. But all of them are still running
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