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Magic Lines...?

  • #101
  • Apr 12, 2010 10:03pm Apr 12, 2010 10:03pm
Hi All

just wondering wheather anyone has come across a thread dedicated to what not to do

found lots of info on what to do but in this game there are a lot of things that you just should not do

ie intraday trade between us close and asian open

why "because of wide spreads and slow moving market"

moving stop losses to quick because invariably it will retrace and stop u out and then carry on in the direction you new it was going in any way

I suppose if you can eliminate all the problem areas then you are half way there

You shouldnt be letting trades run 50 pips up and then go out for dinner only to find that its retraced and you are back to where you started but you have just had an expensive dinner bill to boot

If any one else has a few good stories on what not to do let the world know
  • #102
  • Apr 12, 2010 10:12pm Apr 12, 2010 10:12pm
These lines sound magical. Continue to post the result. Thks for sharing.
  • #103
  • Apr 13, 2010 12:28am Apr 13, 2010 12:28am
Hi CashCalf,
Sent you PM and email, would appreciate a reply. Thanks bud.
  • #104
  • Apr 13, 2010 12:30am Apr 13, 2010 12:30am
Quoting frenz
Hi cash Calf

any magic today with the magic numbers have just tuned in so im studying the move before making decisions
Both EURUSD & GBPUSD still hovering between Buy/Sell Lines... whreas the Yen pairs have all reached the projected targets
  • #105
  • Apr 13, 2010 12:57am Apr 13, 2010 12:57am
Hi CashCalf,
Do you only take 1 trade on a pair per day? That is , if Buy is triggered you cancel the pending Sell?

Thanks
  • #106
  • Apr 13, 2010 3:55am Apr 13, 2010 3:55am
Quoting bravester
Hi CashCalf,
Do you only take 1 trade on a pair per day? That is , if Buy is triggered you cancel the pending Sell?

Thanks
This will never happen because I am not using it as a "set&forget" signal... Yes. I usually trade one pair but I look at 6 pairs and se which one hits those lines first...
  • #107
  • Apr 13, 2010 4:08am Apr 13, 2010 4:08am
(As of writing) GBPUSD has breached the Buy Line with a high of 1.5407 ("2"). Prices retraced and forming "3". A pending order to Buy above "2" is placed. Unless falls below "1", pending order will be cancelled
Attached Image
  • #108
  • Apr 13, 2010 4:58am Apr 13, 2010 4:58am
That is a conservative way of using the magic line...and i think its the safer way.

You may not get a trade everyday, but u have a better calculated risk.



Quoting Cashcalf
(As of writing) GBPUSD has breached the Buy Line with a high of 1.5407 ("2"). Prices retraced and forming "3". A pending order to Buy above "2" is placed. Unless falls below "1", pending order will be cancelled
  • #109
  • Apr 13, 2010 5:23am Apr 13, 2010 5:23am
Quoting Ibuks
That is a conservative way of using the magic line...and i think its the safer way.

You may not get a trade everyday, but u have a better calculated risk.
That is one of a couple of ways to use these lines as highlighted in the blog
  • #110
  • Apr 13, 2010 8:13am Apr 13, 2010 8:13am
Quoting Cashcalf
(As of writing) GBPUSD has breached the Buy Line with a high of 1.5407 ("2"). Prices retraced and forming "3". A pending order to Buy above "2" is placed. Unless falls below "1", pending order will be cancelled
Yippee!
Attached Image
  • #111
  • Apr 14, 2010 2:27am Apr 14, 2010 2:27am
Quoting Cashcalf
Yippee!
Yip, a good winner.

Funny PA on GU this morning. Huge spike.

  • #112
  • Apr 14, 2010 5:17am Apr 14, 2010 5:17am
Quoting matlobien
Yip, a good winner.

Funny PA on GU this morning. Huge spike.

Projected target still met...
  • #113
  • Apr 14, 2010 8:21am Apr 14, 2010 8:21am
Quoting Cashcalf
Projected target still met...
Yip, not bad.

EJ also made it.

Do you trade any other pairs ?

Have you got statistics for GU as it is impossible to back test the accuracy ?

  • #114
  • Apr 14, 2010 8:39am Apr 14, 2010 8:39am
Quoting matlobien
Yip, not bad.

EJ also made it.

Do you trade any other pairs ?

Have you got statistics for GU as it is impossible to back test the accuracy ?

Nah... I only recently found out about this Lines. Most Yen pairs made it there too...

I look at 6 pairs and trades the 1st pair that hits...
  • #115
  • Apr 14, 2010 8:44am Apr 14, 2010 8:44am
Quoting Cashcalf
Nah... I only recently found out about this Lines. Most Yen pairs made it there too...

I look at 6 pairs and trades the 1st pair that hits...
Ok, thanks mate.

  • #116
  • Apr 14, 2010 9:13am Apr 14, 2010 9:13am
Hi CC,

Where do you place your SL? The calculator gives us our TP levels...I was planning to make the SL the same amount as the projected TP level...

Thanks,
BC
  • #117
  • Apr 14, 2010 4:47pm Apr 14, 2010 4:47pm
Quoting Cashcalf
Nah... I only recently found out about this Lines. Most Yen pairs made it there too...

I look at 6 pairs and trades the 1st pair that hits...
Hi CC,

Which 6 pairs are you evaluating?

Thanks,
BC
  • #118
  • Apr 14, 2010 5:01pm Apr 14, 2010 5:01pm
Cashcalf do u have the old levels for yesterday that are relesed on the 13 for the 14 on any pair preferably eurjpy eurusd and gbpusd i missed them unfortenatly and no it is to late there are new levels now


best regards
  • #119
  • Apr 14, 2010 10:33pm Apr 14, 2010 10:33pm
Quoting Bobcat2
Hi CC,

Where do you place your SL? The calculator gives us our TP levels...I was planning to make the SL the same amount as the projected TP level...

Thanks,
BC
As instructed by the blog, the SL is placed at the last Pivot High/Low. Currently I look at EURUSD, GBPUSD, EURJPY, AUDUSD, GBPJPY, USDCHF
  • #120
  • Apr 14, 2010 10:35pm Apr 14, 2010 10:35pm
Quoting jgadefelth
Cashcalf do u have the old levels for yesterday that are relesed on the 13 for the 14 on any pair preferably eurjpy eurusd and gbpusd i missed them unfortenatly and no it is to late there are new levels now


best regards
Sorry no, but the results shown on the blog for those dates are around but I think only for GBPUUSD and EURJPY
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