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GBPUSD Magic Number

  • #21
  • Dec 4, 2007 7:29pm Dec 4, 2007 7:29pm
Quoting PowerTrader
No Problem! I have given this thread 10 times the exposure it deserves by commenting in the first place.
Anyone who wishes to trade Magic Numbers I wish you well.
My whole point in the first place was to get people to learn the basics to be successful. Price Action, Fibonacci, Trend Lines, Support and Resistance, and Money Management. But then why would you want to spend all that time learning these things when you have Magic Numbers?


Good Luck,
Pt
hey, thanks guys

Your are 110% right >>PowerTrader, never doubt any of it

well, the truth is trading forex is not easy as it looks, the magic number is no more than support and resistant. thats it only being simplified

the aim of this strategy is to get people knew that there are simple way to trade forex and make money

dont give me wrong, i do use indicator, i do learn fx trading the hard way.
i have learnt a lot and it doesnt came cheap, couple of time losing and winning............even near bankrupt......

even the best indicator gives you wrong prediction and result....admit it

look at the chart...cable has it's own road and it happens everyday

those level are magic.....

well, i couldnt trade yesterday, but i am very sure those level are crossed many many times....

try the strategy on demo acc, place pending order just 10 pips profit and place sl as you like it, close your platform, learn which one hit which one doesnt, do statistics count.....learn your mistake....


Well, nice to have you guys around


__________________________
try to make a living here....
  • #22
  • Dec 5, 2007 1:31am Dec 5, 2007 1:31am
Quoting jogjatrader
hey, thanks guys

Your are 110% right >>PowerTrader, never doubt any of it

well, the truth is trading forex is not easy as it looks, the magic number is no more than support and resistant. thats it only being simplified

the aim of this strategy is to get people knew that there are simple way to trade forex and make money

dont give me wrong, i do use indicator, i do learn fx trading the hard way.
i have learnt a lot and it doesnt came cheap, couple of time losing and winning............even near bankrupt......

even the best indicator gives you wrong prediction and result....admit it

look at the chart...cable has it's own road and it happens everyday

those level are magic.....

well, i couldnt trade yesterday, but i am very sure those level are crossed many many times....

try the strategy on demo acc, place pending order just 10 pips profit and place sl as you like it, close your platform, learn which one hit which one doesnt, do statistics count.....learn your mistake....


Well, nice to have you guys around


__________________________
try to make a living here....
hey mate you didnt post your results of yesterday? Please if possible do that.
Thanks
BK
  • #23
  • Dec 5, 2007 8:28am Dec 5, 2007 8:28am
Quoting bksujal
hey mate you didnt post your results of yesterday? Please if possible do that.
Thanks
BK
ok, this came straight from my journal
-------------------------------------------------------------------------

December 4, 2007

Cable in early asian market is ranging market, how would i know that, well the low doesnt break xx20 and the high still in xx43. after another try to break xx20 fails i set buy stop at xx50 the market is very tricky but my sl is at xx20 i leave it as it is, in early european market surprisingly the price jump to 2.0665 where i set my profit at 15 pips, and went over to 2.0676 its very close to xx80 but it didnt touch xx80 so i wait.

one thing about cable, the spike are very dangerous, after it fails to break xx80, the next level would be xx50, back then its very risky. after it breaks xx50 the EMA has crossed so i set sell stop at 2.0620, coz the time has already passed the european market its time trade the gap so i set my tp at 2.0600, and it did break through 2.0500 making new low at 2.0586 (fails to break xx80) after 20 pips profit. i stopped, i have to pick up my daughter from school

back again at US market, i saw that it came back up again at xx30, this time i wait for EMA to give me signal sell stop at 2.0620 tp at 2.0610, nicely done it gave me another 10 pips

Total 40 pips
i am done

---------------------------------------------------------------------

this week is nonfarm payroll's week, high volatiliy high risk

I will post my today's (December, 5 2007) trades tomorrow


---------------------
Happy Trading
  • #24
  • Dec 7, 2007 10:23am Dec 7, 2007 10:23am
very interesting system...no indicator needed just need candle stick to under stand...

mas...aku orang jepara - jawa tengah...boleh gak aku belajar sistem ini, kalo anda online nanti bisa sms aku di 085290623352 aku pengen ngobrol via YM...ok di tunggu ya mas....terima kasih...
  • #25
  • Jan 7, 2008 3:35am Jan 7, 2008 3:35am
Hello,

Iqtrading suggested to combine the magic numbers with candlestick patterns and the Bollinger Band.

His chart is self-explanatory.

http://www.forexfactory.com/attachme...1&d=1196242810

http://www.forexfactory.com/showpost...&postcount=129
  • #26
  • Jan 9, 2008 11:59am Jan 9, 2008 11:59am
Here is another example. Take a look at support and resistance:

http://forexfactory.com/showpost.php...&postcount=155
  • #27
  • Jan 14, 2008 8:35am Jan 14, 2008 8:35am
just my two cents

tried similar system before

this is one of which easier analyzed than performed in real trading platform

good luck bro
  • #28
  • Jan 14, 2008 8:23pm Jan 14, 2008 8:23pm
Great presentation Aderlug,

The truth, trading is like a habit, do your habit carefully then you are good to go. I didnt quite test this magic number other than GBPUSD. I believe there are such magic numbers in all currency pair, test it if you are feeling comfortable use it.

There are strong connection between magic numbers and candlestick pattern, you have to look for candlestick as confirmation otherwise you'll get whipsawed, the timeframe should no more and less than 15m chart (its safer)

thanks again guys

_________________
Remember, keep it simple
  • #29
  • Jan 16, 2008 7:50pm Jan 16, 2008 7:50pm
This chart explain the difference between breaks and not break

elips ----- non break (price reverse) open sell position
square ---- break open buy position

before you make entry make sure the candlestick create these break or non break pattern.

This method is very effective for scalping
very promiing on cable, next i will be testing it on AUDUSD pair

___________
Happy Trading
Attached Image (click to enlarge)
Click to Enlarge Name: 5M chart.jpg Size: 171 KB
  • #30
  • Jan 18, 2008 9:12am Jan 18, 2008 9:12am
Interesting scalp method. Better keep a close eye on your money management for times when spikes appear :-)
  • #31
  • Jan 21, 2008 9:09am Jan 21, 2008 9:09am
Hello Friend,

What you think make an EA? How long you are using this TS? iŽll not charge nothing, just share,
so, we'll lets see the possibilities and run some BackTests in a different pairs.


Best Regards,

Marcelo Marques
  • #32
  • Feb 24, 2008 8:10pm Feb 24, 2008 8:10pm
Quoting marcelom
Hello Friend,

What you think make an EA? How long you are using this TS? iŽll not charge nothing, just share,
so, we'll lets see the possibilities and run some BackTests in a different pairs.


Best Regards,

Marcelo Marques
no news update for quite sometime ...?
  • #33
  • Feb 25, 2008 4:25am Feb 25, 2008 4:25am
I have been using this for quite sometime now, I disagree with comments earlier in the thread condemming this trading system rather than strategy, one of the most important aspects of trading is knowing when to get in and out and having some kind of price indicator to show that, Gb/us shows us that time and time again, it respects the 00, 50 and 20 and 80 but not as often, I personally have made alot of pips using this sorry that should be money, pips dont pay the rent, I think as long as you not greedy and take a few quid off the table it works
good to go
respect
Tom(uk)
  • #34
  • Feb 25, 2008 4:31am Feb 25, 2008 4:31am
Just a footnote
as we speak, price has bounced off the 1.9650 4 times in the last hour, 4 trades would have given average 40 pips
Tom(uk)
  • #35
  • Feb 25, 2008 8:13am Feb 25, 2008 8:13am
so how do you trade this system booktimes?
  • #36
  • Feb 26, 2008 5:28am Feb 26, 2008 5:28am
I gleaned another 24 pips today from gb/us, It does respect those magic numbers
respect
Tom(uk)
  • #37
  • Feb 28, 2008 3:33am Feb 28, 2008 3:33am
Its gone very quiet in here lately, hope its not a nother thread coming to an end, maybe the market madness of the last couple of days has effected it
Tom(uk)
  • #38
  • Feb 28, 2008 9:08am Feb 28, 2008 9:08am
Quoting booktimes
Its gone very quiet in here lately, hope its not a nother thread coming to an end, maybe the market madness of the last couple of days has effected it
Tom(uk)
Thank goodness glad to read one good opinion about my system the reason for i am not writing in this thread is my work, i am very busy lately Ok let me heat it up guys, i am ready for any critics and questions. I have using it many time, and gain enough profit for me Its sooo simple that sometime you even deny to use it, all just because you have some trading system or something else better. G/U have done it million of time, so can u Thank you Booktime for your support Happy Trading ------------------- Forex trading can be simple if you choose to....
  • #39
  • Feb 28, 2008 9:27am Feb 28, 2008 9:27am
I think its brilliant, really because of the simplicity of it, it is one of those things that because it is so simple, we tend to ignore it or take it for granted.
I have been burnt a couple of times but mainly because of my ignorance but I learnt the reason why and that is like paying for advice I think.
I have tried many systems and so many indicators and look out for this and watch that and dont trade until, my god I defy anyone not to get confused sometimes.
Forex is so complex sometimes and that is why no one has actually found a 100% cast iron sure fire no lose system,
Good on you Jog, I love it so simple and yet so bleeding obvious
big respect
Tom(uk)
  • #40
  • Feb 28, 2008 10:02am Feb 28, 2008 10:02am
Took another 10 pips around the 1.9900 number, it hit and fell back again
Tom(uk)
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