Magic Lines...?

I managed to get some pips...on demo though...but i will keep trying to really undestand and use the idea....

thanks.

Hi Ibuks

Had to get some sleep so I missed the reversal but

just another thought

I trade off the 15 min and 5 min time frames but am still really aware of whats going on with the higher time frames

You will notice on the 5 min time frames that pin bars appear around the magic numbers i.e 64

As a rule I wont trade the first one that appears but wait for a second

The first is just the indicator that people are getting nervous and starting to bail out or take profits but at the same time there is a whole market that are starting to get worried that they are missing the move and are waiting for a retracement to get in
If you look back at your charts it happened today just before the 83 mark

First pin appeared followed by a retracement and then the late players arrived but it never quite made it back . It was a pip or two below the high Then there was a double pin bar that formed
If you have the dicipline to hang on thats the one you want to take

The market had run up 150 pips which is close to the average daily range
doulble pin bar had formed

There was no major news out so it was a standard day and it was bouncing just under 83

London had closed and profit taking gets started so there is a good percentage chance that a reversal is on the cards

5 min tf there is a lot of false signals so even better wait for confirmation on the 15 min

Your new insight is really helping me take profits at the right time....

I used to be afraid to take GU trades.... only comfortable with EU only...but I think I can take on GU with this idea now...and with magic lines......its really getting interesting.....

See GU reaction to your levels....whaooo...I was able to bank 30 pips within minutes.... bye bye to indicator trading....lol

Cheers .......

Hi Cashcalf,

GU is in the bag already.... I use the magic lines for EU and GU only....

I tried AU & EJ....... AU is too slow these days and EJ...no comment...lol.

Cheers

steady steady

know what you are saying about gbp
I feel a lot safer trading eu seem to be able to get green a bit quicker but when the gbp moves it really moves and the pip count seems to be higher

Just an idea but if you are trading on a demo account and have a live one sitting idle
use the live account to trade but trade the smallest denomination
I use oanda and when im not too sure I put in cent orders so it doesnt really cost anything but you are still live

I know demo accounts are good but there is something about the commitment . Its only play money so u treat it as such

The other aspect about using your live account is that if the perfect setup comes up you are ready to go and just bump up the entry point

Does keep u on your toes a little more

EU is also in the bag....its really magic lines..lol....

Cheers..

Hi Cash calf

sorry but I seem to have hijacked your thread
Im a full time trader and have developed a bunch of theories that work for me


They are a bit out of the normal but for any newbies looking for a slightly different take on whats going on out there I have a lot of random info

Wheather its right or wrong its borne out of experience winning and loosing
I have made most of the mistakes to make, read one hell a lot of crap along with a lot of good stuff and slowly over a peried of years developed a winning technique

Thats not to say I dont loose but as all the pros will tell you thats just part of the game

By the way trading is by an large a lonely business especially down under when you are parked on your couch at 4 in the morning watching green and red candels slowly forming patterns on computer screens

If you want more info let me know

PS ed is looking to head past 83 and gbp haqs just formed up a pin bar bouncing under 83

looking to follow the trend of the moment which is down so be wary for the lows that you should have marked on your screens


nothing is certain in fortex

Another easy one for EURUSD

This thread is for discussion of these "magic lines" I found from a facebook friend.. If your posts circles around these lines, they are fine by me and I believe fine for the others as well... Anyway I am learning from you and the others as well...

Got the EU as well...

me too

Hey bro,

Pls keep it coming....learning a lot...

Missed the pin bar on GU....not at my desk.....

Heres my take on goals and money manaegment


If you are familiar with the game of cricket you would know how the Aussies play

They play it conservatively and keep getting singles and when the time is right they smash a boundary then move back to the singles and wait again for the perfect opportunity to come along and take another boundary They keep the score ticking over slowly but shorely
As a rule they win

On the other hand if you watch the Kiwis play cricket they march up to the wicket full of bravado and start smashing boundaries from the outset

as a rule they loose big time and spend the next month analysing what the hell went wrong .

Apply this to money management and taking profits

Hundred pip runs are pretty hard to come by but 10 pip runs can be acheived quite easily

My daily goal is 10 pips from each of the major sessions
asia london and us
These are the singles

quite often you get that in 15 min and then after that its a bonus

The bonuses are when the opportuntity is bang on you smash a boundary
Thats your hundred pipper


trade 2 lots or 2 mini lots or whatever you account is and you are banking around 12 % a month just on the singles
Bang in an occasional boundary compound a percentage of that and you do the maths

Now instead of going for more pips increase the amount of lots.
That means you trading style can remain the same and if you just look at it as pips instead of dollars nothing changes apart from your bank balance

but at the same time you get a life around that

Just wondering if your numbers work for GU only or any pair....EU as well??

Will take a look. I have been watching GU only for the numbers.....

Unfortunately, I dont know how to play cricket....and I dont even understand the game. I tried to read it up but no joy...lol...

I took the pin bar on GU against the xx36.....its really interesting.

Pin bars happen regularly...but if u dont look for it...u will not see it...lol

just got back on line internet was down for last hour

i use these numbers on gu and eu as if you cant crack it on those two you just cant crack it

aud /.usd plus anything against the yen is good during asia
low spreads plus you have the carry trade aspect

but these numbers are pretty reliable

ive been concentrating on eu tonight got my targets pretty easily so just cruising now

hi cashcalf and frenz,
cashcalf thanks for pointing us in the right direction with the magic lines and frenz for your insight into your system and money management.

Glad its working out for some of you in one way or another...

For myself, I look at 6 pairs..
EURUSD, GBPUSD, NZDUSD, USDCAD, EURJPY, AUDUSD..
and filter them out with my own T.A


Read his blog.. Its quite useful

CC

hi cashcalf ...sended a pm but maybe u did not have time 2 check it yet
hope to hear from you about those magic lines
thanx

Hi Cash calf

with your magic line set up are you placing pending orders or waiting for the mark to be hit and then making the trade

I wait... I set alert (with alertfx.com ) 10 pips earlier