Magic-Breakout (optimised) with PPA - a new beginning

Hi everyone

It's back to break even on the TE because I'm afraid that I am getting up too late in the morning. Frankly, if you get up late you miss the boat and you can get caught in unnecessary volatitility

Hi everyone

Well I had the "pricebounceoffma" EA set up on the 1 min chart at 5pm yesterday and forgot all about it. The trend weakened and became choppy which emptied the account!

Hi everyone

Well it's been an interesting week. What have we learned? Well 5 absolutely VITAL things:

1/ ACCURATELY "READING" THE SITUATION - It's all about accurately reading the situation! I think that the huge mistake that all small traders make is that they have a big main chart and small indi chart - WRONG - Must be the other way round!

2/ TIMES - There are 3 periods of the trading day lasting for around an hour that we just HAVE to be watching our indi's - the rest of the time is simply going to be wasted and if you trade you will most likely get BURNED!

3/ PATIENCE - A situation is developing - we don' t trade it manually - set up EA when we're fairly sure it's heading for a substantial move

4/ CHOICE - This is the BIG one. If you sit transfixed on one trading pair, you will miss out on hundreds of pips - you will kill your account and cry!!

5/ TIME FRAME - really vital to use the correct time frame to accurately gauge the trend!

Over the weekend I want to elaborate thoroughly on these 5 aspects

Hi everyone

I didn't have time to elaborate on my last post but will be trading the adjusted strategy and time frame this week - so we'll see the results on the trade explorer.

There you are guys - new system working perfect

430 pips


Should have been 600 - 700 pips today but I missed the GU and GZ moves this morning!

Sorry 421 pips - call me a liar for 9 pips!

As I say, should have been 600 - 700 pips today with the newly optimised system.


Wonder how many punters are doing that in a year, let alone in a day!!

Anyway, let's see how the TE looks by the end of the week before we go fully live with the optimised system. Remember this is not "sweaty palm", fear-filled, nerve jangling live trading (I mean looking at the chart and deciding whether or not to place your buy/sell order!) it's all done with our trusty EA's!



Anybody who want the new optimised set-up and help with the EA's just email me on: [email protected]

Rgds to all


Jerry

90 pips today so far


Wow I never thought trading forex was so easy!!

Email sent!

Hi Themaxx

Will send you the info this evening

Hi everyone

Well 82 pips so far but should have been over 150 because I made 2 set up mistakes. Set up the wrong ea on GBPNZD which lost us 40 pips and then I set up the pricebounce ea on the wrong time frame (1 min instead of 5 min) which still made us a few pips but should have had 60 more!!

Here is my 5 min GBPNZD chart from earlier today.

Nice down-trend until 5 pm (which is exactly when London closed!)


One can see clearly the bounce opportunities using our PBO_MA expert advisor. Notice how when price action bounces off a certain EMA IT WILL USUALLY TEST THAT SAME EMA ONCE OR TWICE MORE which means you set up your EA with that setting - so one always goes UP first (i.e. start at 200 then next one, then down again) that way one doesn't get stopped out - if price bounces off our next EMA down then we set up our EA for THAT particular EMA


If price action is miles away from our nearest EMA on the 15 min chart then of course one goes down to the 5 min chart. I DON'T recommend the 1 min chart.

Hi everyone

Well 55 pips up but again we've been robbed!!

Should be about 120 up but for some reason the TL function seems a bit temperamental to say the least. I've got to get the trailing stop working properly as instead of 30 pip wins - got a 30 pip loser on UJ and EZ last night

Hi everyone

I think what we want to do is try to identify prospective break - out opportunities.

Of course we don't know if and when a break - out might take place but WE NEED TO BE READY FOR IT MORE IMPORTANTLY AND OUR EA SET -UP FOR IT so that even if we are not around when it occurs - because I'm sure that like me, you cannot be watching the charts 24 hours a day and even if you are, DOUBT and FEAR will creep in and the break out will pass you by even while it's occuring - know what I mean??

Hi everyone

Well not too great a day - a few bad trades which messed up our average and the reason for those is because forgot to set them up for buy only (except for GZ of course) and of course we got hit by the chop!

However because we are looking for pips NOT money - thus very low leverage, the minor losses didn't even our TE account balance.


It's been very choppy so on all trading pairs - so maybe tomorrow will be good!

Just picked up the breakout on GZ guys

about 90 pips I think



That's 643 pips so far for the week - not too bad

Hi everyone

Well not too bad a day. 253 pips


That's 895 pips in four days


Anyone want to argue that MBO doesn't work?

Of course we'll still get the doubters and Poo-Pooers coming out of the woodwork! They will of course point out that the TE above is a demo account. However guys THIS is the point I want to make : If it was a live account I would NOT have done anything different!! In fact, everything I have done, every set-up was made with LIVE account criterior in mind!

Remember that we started off with $150 7 days ago. I have tried to point out that PIPS not money is the object. Which means micro-lots because it's only a micro account! Obviously if we started with $1000 we could have traded mini-lots but the point is that as the account balance increases we increase our micro leverage until hopefully we get the balance up to mini-lot level!

Sorry forgot to mention that I am quite happy to share my set-ups with subscribers ( those who emailed me on my email address at [email protected] for the indi's, ea's, etc.)


Of course you can just check out the trade list but it's the set-up that leads to the winning trade/s that's all important!


Oh forgot to mention that those two small losing (closed) trades above were because I again forgot to set the EA for "sell only" - I keep doing that and of course one can get caught on the lower time frames by the "chop"!

Thank you so much - just to mention though that I'd be happier to have a small trading "team" - once we all understand what to look for, we can post possible opportunities - like this morning at 7 or 9.00 am - EU or EJ In actual fact, I had EU set up (I had EU, EJ, CJ, UJ and GZ set up) but for some unknown reason the EA showed an error message on EU - did not initialise! That's why you need to have related pairs set up - this happens - maybe the broker??


I have attached an interesting chart showing EU over the last 3 days. Easy to see that today was the best day for a break-out . However one only had an hour or so to set-up - otherwise one is caught in chop!

Hi everyone

Well as you can see it was a bad day so far pip-wise!

I am hoping for a break-out upwards on GZ this afternoon

Let's see