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Magic 100

  • #2,681
  • Jun 20, 2024 6:02pm Jun 20, 2024 6:02pm
For Minotaurs sake, if you need to work out entry:

Set a SELL order (pullback) at last UP candle open in a downtrend.

Set BUY order (pullback) at last DOWN candle open in an uptrend.

Works best when the 100EMA is at a good sloping angle.

Use market structure to help you.. HH, LH, LL, HL.

Use the TP and SL method Minortaur provided from the 1st page onwards.

That is the MINIMUM you need to know to trade this stategy. Its not hard at all.

What is hard is the human brain trying to execute and hold positions till they hit TP without closing.

If you cannot profit from this system then I'm not sure what to say really.

Once you grasp it, then you can define things yourself but it is a profitable strategy if you stick to the plan.
You can lead a horse to water, but you can't make it drink
  • #2,682
  • Jun 21, 2024 5:51am Jun 21, 2024 5:51am
As I mentioned before, I trade a different system but I do use this entry style so here is an example of the kind of trade I would get into and one that I am in now on EUR/USD.

Read it carefully as it will give you an idea of some things I am looking for when taking trades.

I did also use the fibonacci retracement on it and price hit the 50% mark before continuing down but I didnt add it to the chart because it would be too messy.

Let me know if you want to see the fib on the chart too and I'll post it.

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You can lead a horse to water, but you can't make it drink
  • #2,683
  • Jun 21, 2024 6:07am Jun 21, 2024 6:07am
Oh go on then, show us the fib lol
  • #2,684
  • Jun 21, 2024 6:24am Jun 21, 2024 6:24am
Quoting James154
Oh go on then, show us the fib lol
With fib

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On the current pullback leg, we can see price seeking the 50% fib level again on a smaller level (Below) - this could be a good place to enter, but it doesnt follow Minotaurs rules. However, I am just showing how to look at price and where to enter or which pullbacks to maybe look at for these Magic 100 entries.

I am also not using H1 for entry, I am focusing on location and market structure on the lower timeframe when its in my target area.

Price could pull back as far as the 79% on my fibs but I'm not worried as I am break even and I entered way way earlier as it was the pullback in the higher TFs.

Might be something we all should know but the main and most helpful thing I've learnt trading is that if price doesn't AT LEAST hit the 50% mark on a leg then its not a valid pullback so keep following with the fib till it hits 50% and then you can start looking at entries.


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You can lead a horse to water, but you can't make it drink
  • #2,685
  • Jun 21, 2024 6:52am Jun 21, 2024 6:52am
Quoting xkwisit2001
{quote} With fib {image} On the current pullback leg, we can see price seeking the 50% fib level again on a smaller level (Below) - this could be a good place to enter, but it doesnt follow Minotaurs rules. However, I am just showing how to look at price and where to enter or which pullbacks to maybe look at for these Magic 100 entries. I am also not using H1 for entry, I am focusing on location and market structure on the lower timeframe when its in my target area. Price could pull back as far as the 79% on my fibs but I'm not worried as...
Thank you. Nice lecture!

I normally trade the JPY and CHF pairs. Do you have any prefrence on this strategy?
MetaTrader 4 - so many advantages.
  • #2,686
  • Jun 21, 2024 7:01am Jun 21, 2024 7:01am
Quoting RiskFighter
{quote} Thank you. Nice lecture! I normally trade the JPY and CHF pairs. Do you have any prefrence on this strategy?
Ha, thank you. I try not to lecture because then it may confuse some people and then they want to trade the same. But putting it out there for the right eyes to see and if it helps then I'm happy.

I will mainly trade EU & GU but as I am heavily focussed on fib levels so I will trade most majors. I do actually tend to stay away from JPY & CHF though lol

If I see something interesting that follows what my eyes are seeing then I'll take a calculated punt and then turn the screen off lol
You can lead a horse to water, but you can't make it drink
  • #2,687
  • Jun 21, 2024 7:23am Jun 21, 2024 7:23am
Quoting xkwisit2001
{quote} With fib {image} On the current pullback leg, we can see price seeking the 50% fib level again on a smaller level (Below) - this could be a good place to enter, but it doesnt follow Minotaurs rules. However, I am just showing how to look at price and where to enter or which pullbacks to maybe look at for these Magic 100 entries. I am also not using H1 for entry, I am focusing on location and market structure on the lower timeframe when its in my target area. Price could pull back as far as the 79% on my fibs but I'm not worried as...
nice
  • #2,688
  • Edited 7:38am Jun 21, 2024 7:23am | Edited 7:38am
Quoting xkwisit2001
{quote} Ha, thank you. I try not to lecture because then it may confuse some people and then they want to trade the same. But putting it out there for the right eyes to see and if it helps then I'm happy. I will mainly trade EU & GU but as I am heavily focussed on fib levels so I will trade most majors. I do actually tend to stay away from JPY & CHF though lol If I see something interesting that follows what my eyes are seeing then I'll take a calculated punt and then turn the screen off lol
How funny. JPY and CHF is what works on my robots.

I also made a robot for this Magic 100 strategy way back. It did not work - to many false signals. I can se now, that the robot should not trade unless price had bounced on some moving average. And it is also a nice filter to check if the pull back is at least minimum 50%. I will try that when I get some time to take this robot up again.

The nice thing with a robot is, that if you think the circumstances are right, then put on the robot to take the trade imidiately when signals comes and without any human thinking which is my worst animy.
MetaTrader 4 - so many advantages.
  • #2,689
  • Jun 21, 2024 7:32am Jun 21, 2024 7:32am
Quoting xkwisit2001
{quote} Ha, thank you. I try not to lecture because then it may confuse some people and then they want to trade the same. But putting it out there for the right eyes to see and if it helps then I'm happy. I will mainly trade EU & GU but as I am heavily focussed on fib levels so I will trade most majors. I do actually tend to stay away from JPY & CHF though lol If I see something interesting that follows what my eyes are seeing then I'll take a calculated punt and then turn the screen off lol
Take a look at this. My favorite JPY chart. All nice long runs with plenty of pull backs.
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MetaTrader 4 - so many advantages.
  • #2,690
  • Jun 21, 2024 7:58am Jun 21, 2024 7:58am
Quoting RiskFighter
{quote} Take a look at this. My favorite JPY chart. All nice long runs with plenty of pull backs. {image}
Thats actually a beauty, I think it's because I got burnt by GBP/JPY few years ago and just didn't want to mess with it again lol... although the dragon can make you some good money once you hook onto a trend.

Can you see how it pulled back to 50% on your chart though? this is what I keep seeing everywhere now so my brain just locks onto looking for it lol

My current trade was looking a bit sketchy, but it did go to 79 as I mentioned it could do earlier lol....

I've had to adjust my SL back to my original that I had as I feel like US will want to push to the daily open again before news but I'm hoping it heads down to the S38 weekly pivot at least.

Will add to the trade once we are out of muddy waters

Can you also see how my target 1 on the fib matches the S38? - Fibs are a weird thing eh.

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You can lead a horse to water, but you can't make it drink
  • #2,691
  • Jun 21, 2024 8:05am Jun 21, 2024 8:05am
Never always fun and games trading but its totally normal

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You can lead a horse to water, but you can't make it drink
  • #2,692
  • Jun 21, 2024 8:07am Jun 21, 2024 8:07am
Quoting xkwisit2001
{quote} Thats actually a beauty, I think it's because I got burnt by GBP/JPY few years ago and just didn't want to mess with it again lol... although the dragon can make you some good money once you hook onto a trend. Can you see how it pulled back to 50% on your chart though? this is what I keep seeing everywhere now so my brain just locks onto looking for it lol My current trade was looking a bit sketchy, but it did go to 79 as I mentioned it could do earlier lol.... I've had to adjust my SL back to my original that I had as I feel like US will...
Well, I do not use Fibonacci. Yes I allways found it to be a little weird. However I have mostly prepared my charts for next weeks trading - so I will use my weekend to analyse this weeks charts using your methode. That will be a lot of fun! Thank you for the motivation.
MetaTrader 4 - so many advantages.
  • #2,693
  • Jun 21, 2024 8:14am Jun 21, 2024 8:14am
Quoting RiskFighter
{quote} Well, I do not use Fibonacci. Yes I allways found it to be a little weird. However I have mostly prepared my charts for next weeks trading - so I will use my weekend to analyse this weeks charts using your methode. That will be a lot of fun! Thank you for the motivation.
This is what is amazing about trading and why every trader needs to find their 'Thing' as I focus on fibonacci alot... I dont ONLY rely on it though but it's nice to see others have their thing too.

I just find it great for market structure really as you can often predict where the next LL or HH is going to be during a trend to TP. Adding pivot levels based on fibonacci then plots the lines/zones which then helps even more for longer term trend locations.

Daily open is a good area of focus for a bounce/reaction too so those are some of the main things I focus on when making a decision.

But, for any strategy I recommend knowing about the 50% pullback just to be mindful where a bounce could occur... but more that if price doesn't pullback 50% then its not a pullback yet - This allows you to not get confused when market is ranging as you are only focusing on it at least getting to 50% before making any further decisions to enter. So when people were mentioning the magic 100 doesnt work well in ranging markets... its that extra bit of knowledge that also helps you not take the bad moves. If I see market is ranging, im usually in a trade beforehand anyway so it doesn't bother me.

I'm going to stop posting my charts as it's off topic now as this is Minotaurs Magic 100 thread and strategy.

Hope you do have fun though this weekend with it!
You can lead a horse to water, but you can't make it drink
  • #2,694
  • Jun 21, 2024 8:48am Jun 21, 2024 8:48am
Quoting xkwisit2001
{quote} This is what is amazing about trading and why every trader needs to find their 'Thing' as I focus on fibonacci alot... I dont ONLY rely on it though but it's nice to see others have their thing too. I just find it great for market structure really as you can often predict where the next LL or HH is going to be during a trend to TP. Adding pivot levels based on fibonacci then plots the lines/zones which then helps even more for longer term trend locations. Daily open is a good area of focus for a bounce/reaction too so those are some of the...
As I recall from the time I studied Fibonacci the zone between 50 and 61.8 is interesting for bouncing. But if the bounce only went to 30, then it is definately a continuation trade. Well, I guess I will need to read about it this weekend.

I am going hunting some food now. So have a nice weekend.
MetaTrader 4 - so many advantages.
  • #2,695
  • Aug 22, 2024 10:56am Aug 22, 2024 10:56am
EURAUD H1, 1:1,4
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  • #2,696
  • Aug 22, 2024 11:11am Aug 22, 2024 11:11am
Thank you for the like! I thought this thread was dead, no one posted in two months. I would have been very sorry if that was the case.
  • #2,697
  • Aug 22, 2024 12:30pm Aug 22, 2024 12:30pm
Quoting pusztafie
Thank you for the like! I thought this thread was dead, no one posted in two months. I would have been very sorry if that was the case.
I subscribe to it, because it is a fine strategy. I built the robot once, but it did not work. I guess it need some filters.

So I am not trading the strategy either. At least no at the moment. I might take up the robot again. Would you like to work at making the robot profitable? I do the programming and you might come with ideas.
MetaTrader 4 - so many advantages.
  • #2,698
  • Aug 22, 2024 12:35pm Aug 22, 2024 12:35pm
Quoting RiskFighter
{quote} Feliratkozom rá, mert ez egy jó stratégia. Egyszer megépítettem a robotot, de nem működött. Gondolom szűrők kellenek hozzá. Tehát én sem kereskedem a stratégiával. Jelenleg legalábbis nem. Lehet, hogy újra kézbe veszem a robotot. Szeretnél a robot nyereségessé tételén dolgozni? Én csinálom a programozást, és lehet, hogy ötletelsz.
I am happy to take the test.
  • #2,699
  • Aug 22, 2024 12:41pm Aug 22, 2024 12:41pm
Quoting pusztafie
{quote} I am happy to take the test.
OK. I am busy in several projects, so I cannot promise to be superfast and I need to dust off the robot. It is years ago that I made it. So please be patient for a week or so.
MetaTrader 4 - so many advantages.
  • #2,700
  • Aug 22, 2024 1:32pm Aug 22, 2024 1:32pm
One way to improve the system since one of the requirements is that price is on a strong trend is to use the rsi period 20 above 55 for longs and 45 for shorts applied to the daily and 4 hour chart since entries are on the hourly.
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