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Magic 100

  • #2,561
  • Feb 26, 2024 7:56am Feb 26, 2024 7:56am
Looks good to enter soon here
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  • #2,562
  • Feb 27, 2024 3:46am Feb 27, 2024 3:46am
Could this be a setup? I have set a entry right above last day orange bar and have a SL right under it.

Its the NASDAQ daily graph and its currently trading above the 100EMA.

Also, do we use breakeven at some point in a trade or do we just make it run for the 3R profit?
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  • #2,563
  • Feb 27, 2024 4:45am Feb 27, 2024 4:45am
Quoting Newt
Could this be a setup? I have set a entry right above last day orange bar and have a SL right under it. Its the NASDAQ daily graph and its currently trading above the 100EMA. Also, do we use breakeven at some point in a trade or do we just make it run for the 3R profit? {image}
You could say that it is time for it to go further up - unless of cause it is time to change the direction of the trend.
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MetaTrader 4 - so many advantages.
  • #2,564
  • Feb 27, 2024 4:57am Feb 27, 2024 4:57am
Quoting Newt
Could this be a setup? I have set a entry right above last day orange bar and have a SL right under it. Its the NASDAQ daily graph and its currently trading above the 100EMA. Also, do we use breakeven at some point in a trade or do we just make it run for the 3R profit? {image}
Here is another way to watch it. We are in the middle of the channel. It would have been better 5 bars ago.

I once made the robot for the Magic100. It was not profitable. If you find some confluence that can isolate winning trades better, then I will be willing to try it on the robot and share it with you.
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MetaTrader 4 - so many advantages.
  • #2,565
  • Feb 27, 2024 7:08am Feb 27, 2024 7:08am
Quoting Newt
do we use breakeven at some point in a trade or do we just make it run for the 3R profit?

Lol, there’s no "3R".

This is one of the best threads ever posted here at FF, and if you read the whole thread slowly and carefully (which, clearly, you have not done) you’ll learn a lot from it, and understand how and why many people (and even semi-institutional funds) are making a living from systems extremely similar to this.

But forget 3R, forget moving stop-losses to break-even and forget automation!! That’s emphatically NOT how this works or what it's about, and it will not lead to profits.
  • #2,566
  • Feb 27, 2024 8:44am Feb 27, 2024 8:44am
Quoting KarlKraus
{quote} Lol, there’s no "3R". This is one of the best threads ever posted here at FF, and if you read the whole thread slowly and carefully (which, clearly, you have not done) you’ll learn a lot from it, and understand how and why many people (and even semi-institutional funds) are making a living from systems extremely similar to this. But forget 3R, forget moving stop-losses to break-even and forget automation!! That’s emphatically NOT how this works or what it's about, and it will not lead to profits.
The issue with threads such as these is that after reading 20-30 pages, one becomes excessively confused due to the multitude of posts. Frequently, the author introduces minor alterations within their posts, which compound over time.
By the way, the author does mention 3R and is using it, see post 89 - so why are you saying there is no 3R?
  • #2,567
  • Feb 27, 2024 8:58am Feb 27, 2024 8:58am
From post #1:
Stop is is under the candle. TP is 2R (R:R is about 1:2 or 1:3)
MetaTrader 4 - so many advantages.
  • #2,568
  • Feb 27, 2024 9:02am Feb 27, 2024 9:02am
Quoting RiskFighter
From post #1: Stop is is under the candle. TP is 2R (R:R is about 1:2 or 1:3)
One problem in this strategy is, that the next candle (in a long often go lower, but have a wick that trigger the pending trade). I think maybe it could be an idea to wait one candle before setting the pending.
MetaTrader 4 - so many advantages.
  • #2,569
  • Feb 27, 2024 9:15am Feb 27, 2024 9:15am
Quoting Newt
the author does mention 3R and is using it, see post 89 - so why are you saying there is no 3R?
If you had read even just the most recent 10 pages, you would understand that.

Really, really difficult, sometimes, to try to help people, here.

You can lead a horse to water, but you can’t make it drink.

https://www.forexfactory.com/thread/...3#post14767833
  • #2,570
  • Feb 28, 2024 6:10am Feb 28, 2024 6:10am
Quoting Quickly
{quote} If you had read even just the most recent 10 pages, you would understand that. Really, really difficult, sometimes, to try to help people, here. You can lead a horse to water, but you can’t make it drink. https://www.forexfactory.com/thread/...3#post14767833
I understand what you're saying, and sorry. I began by reading the first 20 pages but found myself confused. I didn't backtrack through the pages. Nonetheless, I believe many people may become confused when reading through numerous pages of posts, especially when there are slight changes to the initial post and the strategy described therein.
  • #2,571
  • Feb 28, 2024 11:13am Feb 28, 2024 11:13am
GBPAUD H1, R:R=1:1,4
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  • #2,572
  • Feb 28, 2024 2:02pm Feb 28, 2024 2:02pm
Quoting Newt
I believe many people may become confused when reading through numerous pages of posts, especially when there are slight changes to the initial post and the strategy described therein.
Yes, I agree with you, there. Sorry - I sounded really rude! Wish you good luck with this: it does work!
  • #2,573
  • Feb 28, 2024 2:50pm Feb 28, 2024 2:50pm
Quoting Newt
{quote} I understand what you're saying, and sorry. I began by reading the first 20 pages but found myself confused. I didn't backtrack through the pages. Nonetheless, I believe many people may become confused when reading through numerous pages of posts, especially when there are slight changes to the initial post and the strategy described therein.
I have read the whole thread - but it is some time ago. Have you seen anything about not taking the trade if the last retracement candle was too small? I think maybe we should have an ATR requirement. Maybe we should then set the pending order in accordance to the 2 last bars in combination.

I have taken some trades in the sandbox today and it is quit often that wicks hit the pending order so that the trade is activated as well as wicks hitting the stoploss stopping a trade which was otherwise perfect.
MetaTrader 4 - so many advantages.
  • #2,574
  • Feb 29, 2024 4:35am Feb 29, 2024 4:35am
Quoting pusztafie
GBPAUD H1, R:R=1:1,4 {image}
Hello Pusztafie

Thanks for all your postings. They are good inspiration. I have adapted your template in a sandbox as well as the currency strength meter.

All the trades you show here are winners. Have you any idea of your win rate?
MetaTrader 4 - so many advantages.
  • #2,575
  • Feb 29, 2024 7:48am Feb 29, 2024 7:48am
Quoting RiskFighter
{quote} Szia Pusztafi! Köszönjük minden hozzászólásodat. Jó inspirációt jelentenek. A sablonodat egy homokozóban, valamint a valutaerősségmérőt alakítottam át. Az itt bemutatott összes kereskedés nyertes. Van fogalmad a nyerési arányról?
Now that's a losing trade. The hit rate is 55%. But I don't just trade Magic 100. I like gold and silver on M1.
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  • #2,576
  • Feb 29, 2024 8:13am Feb 29, 2024 8:13am
Quoting pusztafie
{quote} Now that's a losing trade. The hit rate is 55%. But I don't just trade Magic 100. I like gold and silver on M1. {image}
OK. 55% is nice. I make all as 1:2, so 55% would be nice. USDJPY is close now.
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MetaTrader 4 - so many advantages.
  • #2,577
  • Feb 29, 2024 4:04pm Feb 29, 2024 4:04pm
Try this

buy signal-
1) if price is below 5 Ema and not touching Ema use as alert candle..
2) if price break high of alert candle strategy open trade ..
3) if price move more downside high of alert candle keep change into next candle ..
4) input we can select number of trade per day .as rule should take only 4 signal should execute
5) stop loss is fixed lowest low of last 2 candle and take profit is input multiply of stop loss
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  • #2,578
  • Feb 29, 2024 4:06pm Feb 29, 2024 4:06pm
Quoting MachineLearn
Try this buy signal- 1) if price is below 5 Ema and not touching Ema use as alert candle.. 2) if price break high of alert candle strategy open trade .. 3) if price move more downside high of alert candle keep change into next candle .. 4) input we can select number of trade per day .as rule should take only 4 signal should execute 5) stop loss is fixed lowest low of last 2 candle and take profit is input multiply of stop loss {image}
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  • #2,579
  • Feb 29, 2024 4:16pm Feb 29, 2024 4:16pm
Quoting MachineLearn
{quote} {image} {image}
coding alerts
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  • #2,580
  • Feb 29, 2024 6:38pm Feb 29, 2024 6:38pm
Nice trade on NU earlier
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