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AMAZING Strategy!!!

  • #1,061
  • Jun 29, 2010 7:01am Jun 29, 2010 7:01am
Quoting Limstylz
Fred,

To save you some pain as that was your first post, this thread is intended as a joke. There is no strategy here and this is Merlin's poke at a number of BS threads here on FF, most of which are now in the recycle bin.

To start, go look at the beginner section and then progress to the likes of J16. There are many good threads here, its just unfortunate there are also a number of not so good ones here as well.

Lim
Yeah, Lim, thx. Like Fred, I originally though this was serious, and was asking Merlin to expalin his strategy too - I'm a PT multistation trader
  • #1,062
  • Edited 4:23pm Jun 29, 2010 4:08pm | Edited 4:23pm
Quoting fredgold3434
hi epilogue
thank you for your explaination.i'll be very appreciated if you clreafy me for 2 questions below.
let me see if i got you right for this strategy.
1-you said" we look for the high and low as until now,when its broken ,we do trade in other direction".

Broken means if todays hight/low so far i got are equal or bigger than yesterday?

2-you said "Just find out high/low of last 15 to 20 days candles. Then, as soon as they are broken".
do you mean broken on avarage of 15 to 20 days candles?
or the highest and lowest of 15 to 20 days...
fred,

It's really simple. You short today's High and go long on today's Low. You then sell the short at tomorrow's Low and sell the Low at tomorrow's High. The only hard part is watching the screen for 24 hours. If you buy at a High and another High is even higher still you can just buy another and the same with the low.

An even better play is to buy two contracts when you see a new high and then sell one contract at the new low. When you find a new low then again purchase two contracts and sell one at the new high. This way you have the money to withstand the draw downs of holding one high and one low at the end of the day. As you get better at seeing the Highs and Lows which are really easy you can then add contracts along the way.

You may think at first that this is quite an impossible task but I can assure you it is not. You see the game here is not an exact science and you may do this for a year without ever picking the highest of highs or the lowest of lows but if you are say just close you become a big winner.

The average high to low of any given day is around 250 pips. If you only get 50 pips a session per contract you are going to end up a wealthy man assuming you are reinvesting the profits.

If you add the fundamentals to this game and watch the weekly and Daily trends the High and Low is not that hard to find. It's sort of like the old game of whodunit "Clue" all the clues are there it's up to you to find the answers. When you get really good at this game of identifying Highs and Lows you will find that you may want to keep your longs for a few sessions and only sell your shorts as is the case today on many currency pairs. You may already know that this type of trading is not allowed if you have a US broker as you cannot hold a long and short at the same time. As is always the case with any government decisions they get screwed up because they don't fully understand anything and are too lazy or stupid too find out. They just vote on things as they see it and in their feeble minds probably heard that we Forex traders were holding our Longs with our shorts down and so they all voted to ban this sort of goings on as this was the case with the SEC regulators watching sex videos on their computers. Unless you have two US brokers and are shorting one and going long on another hedging as they call it cannot be done. You can go offshore with a foreign broker such as FXCM UK and then this can be done.

As is always the case you need to practice on a demo account first but please do it with you shorts on.

Good Luck with the long and short of things,

Johnny
  • #1,063
  • Jun 29, 2010 5:34pm Jun 29, 2010 5:34pm
will test your start man, thanks
  • #1,064
  • Jun 29, 2010 5:45pm Jun 29, 2010 5:45pm
Important! Remember from the 1st post Merlin states to use the MACD and RSI indicator and switch from 1 minute chart and 60 minute chart to get exact high and low !!
  • #1,065
  • Jun 29, 2010 10:38pm Jun 29, 2010 10:38pm
Quoting cjd
Important! Remember from the 1st post Merlin states to use the MACD and RSI indicator and switch from 1 minute chart and 60 minute chart to get exact high and low !!
Hello cjd,

The best you can do with the MACD is see the trend. The RSI is not always true and moves very little. There are better ways to see the trend and knowing overbought and oversold is fine but much more important is the support and resistance levels.

I want to know the very top and the very bottom as it happens and neither of these indicators are going to tell me that important bit of information. Unless I look back in time on a chart I can't really see the high as it happens on the MACD. If you look at a chart all you see is different size ups and downs. This is an unbounded indicator which to me is relatively worthless except for maybe divergence. I can see that sort of thing just watching the PA. The fact that this indicator diverges is not good at showing the highs and lows but is better at trend.

I find stochastics a much better indicator at showing the highs and lows and the momentum indicator showing when the PA is exhausted. I don't use any crosses of the stochastics but just the high and low. Combined with the momentum indicator they work very well.

Just remember the Bollinger Bands, Price Channel, Linear Regression Channel and others are tools to see the tops and bottoms with the indicators just confirmation.

I use a chart with four time frames on one chart. The M60, M15, M5 and the M1 with the Bollingers, Price Channel and stochastics on all. The highs and lows stick out like a sore thumb. I don't know if they are the highest high or the lowest low when I see them but who cares. Because of the trend I have an idea when the lows and highs will occur in a 24 hour period but that's the best you can expect.

Trade well and prosper,

Johnny
  • #1,066
  • Jul 1, 2010 1:24am Jul 1, 2010 1:24am
Quoting Limstylz
Fred, To save you some pain
If that's all the pain he has to suffer in this game, then bring it...

You feel better now?
FUBAR...
  • #1,067
  • Jul 2, 2010 1:36pm Jul 2, 2010 1:36pm
Quoting merlin
well, it has a 99.9% win ratio so if you need to stay up all night it should be worth it
Think You need to SHOW HAND on your account balance to make it worth ! haha
  • #1,068
  • Jul 9, 2010 12:07pm Jul 9, 2010 12:07pm
Quoting jamestrack
Think You need to SHOW HAND on your account balance to make it worth ! haha
Ha-ha yourself... you just replied to a 6 year old post and told Merlin, the Author of the The AMAZING Strategy!! that HE needed to show YOU an account statement...



I don't think so....
FUBAR...
  • #1,069
  • Jul 9, 2010 7:14pm Jul 9, 2010 7:14pm
Quoting ak4x
Ha-ha yourself... you just replied to a 6 year old post and told Merlin, the Author of the The AMAZING Strategy!! that HE needed to show YOU an account statement...


I don't think so....
ak4x,

Maybe Merlin could fax him a copy on the old funny fax paper. This guy does seem to behind the times a bit. Maybe he's from the twilight zone.

Johnny
  • #1,070
  • Jul 16, 2010 9:52am Jul 16, 2010 9:52am
Has anyone made an EA for Merlin`s AMAZING strategy? My eyes have been hurting watching the charts while waiting for the high and low of the day.
  • #1,071
  • Jul 18, 2010 10:42pm Jul 18, 2010 10:42pm
Quoting cjd
Has anyone made an EA for Merlin`s AMAZING strategy? My eyes have been hurting watching the charts while waiting for the high and low of the day.
hi cjd
is it a real system? how do we know it is a low or high for the day?
regards
fred
  • #1,072
  • Jul 18, 2010 10:57pm Jul 18, 2010 10:57pm
I am not familiar with the thread but may i ask if somebody can upload
forward or back test results of this AMAZING Strategy?
Thanks.
The more experience the closer to the reality
  • #1,073
  • Jul 19, 2010 7:08am Jul 19, 2010 7:08am
If I understand correctly, this thread was never intended to be serious...
  • #1,074
  • Jul 19, 2010 12:54pm Jul 19, 2010 12:54pm
But this thread is very big which means that many people got interested in it.
It is a long book to read.
If nobody put up some good results, so everybody hide them or no good results at all.
Can somebody who is well familiar with this thread please make his/her input?
The more experience the closer to the reality
  • #1,075
  • Jul 19, 2010 5:46pm Jul 19, 2010 5:46pm
Quoting merlin
i finally found the amazing scalping strategy i have been looking for all my life!!!!

EuroRiddle v1.0 (99.9% accuracy):

> you make 1 trade per day on the EURUSD

> your "day" ends at 4:59EST and starts at 5pm EST

> use 60 minute chart with the MACD and RSI on the chart

> each day at 5pm EST you start watching the chart. it may take hours and hours of watching the chart, but keep watching until the high or low for the day has been hit.

> as soon as the daily high or low has been hit on the 60 minute charts, switch...
Lovely will try this for sure.

13
Brokers are angels
  • #1,076
  • Jul 19, 2010 6:46pm Jul 19, 2010 6:46pm
hi everybody
i have tested this system many times.it will not work at all.nobody can predict what will be the high and low for the day.thats all
save your time.
regards
Fred
  • #1,077
  • Jul 19, 2010 6:55pm Jul 19, 2010 6:55pm
Quoting fredgold3434
nobody can predict what will be the high and low for the day.
No prediction needed!

Look again:

Quoting merlin
keep watching until the high or low for the day has been hit.
...........
as soon as the daily high or low has been hit on the 60 minute charts
Just watch carefully.
  • #1,078
  • Jul 19, 2010 6:57pm Jul 19, 2010 6:57pm
Quoting fredgold3434
i have tested this system many times....
Many times?

Quote
save your time
No worries, if i DO lose any, i just reset my clock and regain it, then do what i would have done with the time I lost if I hadn't lost it in the first place, which of course I now haven't and then reset my clock back to Normality when I'm all caught up... and back to where I started from before I started. :nerd:

What's not to like....?


Noobers... no respect for the Wizard...
FUBAR...
  • #1,079
  • Jul 19, 2010 6:58pm Jul 19, 2010 6:58pm
As with any system..... different traders will yield different results. But if you were to simply follow the posted rules you would see that this system is a real money maker.
  • #1,080
  • Jul 19, 2010 7:05pm Jul 19, 2010 7:05pm
perhaps people ought to heed the lesson of the Sorcerer's Apprentice.

http://media.canada.com/gallery/walt_disney/walt11.jpg
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