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

Well messed up the account gambling this evening - stupid thing to do


Once you go for high leverage you're dead - especially once London closes!!

Anyway lets go for another week guys - from Monday let's see if we can repeat the results

Hi everyone

Thanks for the numerous email enquiries on the MBO system - now there is a chance to win at forex trading!

However you will see that sometimes one completely misses a break-out. Why? well it's difficult to predict a complete change of direction like we had on the JPY based trading pairs last Friday.

Of course though, what we can do is change our EA setting to bi - directional if the signal line is hanging around the "0" level. The big give-away however is to watch for price action to BREAK -THROUGH our EMA's. Remember that our 3 EMA's act as dynamic (constantly moving up or down with the price movement as it moves up or down) support/resistance areas. IF THEY GET BROKEN THROUGH then the trend is failing and a contra-trend break-out is possible or even probable.


The attached 5 min eurjpy chart (look for yellow circles and arrow) tells it's own story for our dedicated system followers!!

Guys

One thing I forgot to mention - if you get an error message when trading the EA's or they don't open a trade - you have probably not adjusted the settings properly. Let me know what error you get and I will try to help!

Hello jmtini
Can you revecived my E-mail?I'm very excited and very eager to use this!

Hi cmz118

Sorry! I thought that I had emailed you but will send you the info again just now.

Rgds

Hi everyone

A few pips overnight

Looking for JPY pairs breakout - up

GZ - up (Ithink)

Looking for gold, EU, - down


anything else?

Hi everyone

Well as you can see - doesn't always work!

Hi Jerry,

I tried to email you but it says your email is inactive?

I've begin testing out the optimized MBO system on eur/usd 5 min timeframe. Changed the cci ea settings to 100, -100 and since loading it at ard 14.00 gmt on 20th feb, it managed to pick up 2 sell trades once it crosses the -100 levels as shown in figure (white arrows). the 1st trade tp at 60 pips and the 2nd one is still ongoing. I like how it catches the trade entry as soon as the -100 level is breached.

http://i928.photobucket.com/albums/a...ps0078f235.jpg

I have a qn though, is the vegas tunnel not used in this optimized system anymore?

Meanwhile i will continue to forward test this system and will update whenever possible.

Regards,
Yong

I love this method. It is self explained especially the pdf. May God bless Tim and Julie.

jmtini, do u ve the magicbreakoutplus? Pls share it if you have it.

Hi Opemipo

Sorry for not replying sooner.

I have been away and not able to trade much.

So glad the system is working for you. Please do let us know if you are trading it daily?

Rgds

Jerry

Hi everyone

Really sorry for the delay in posting. I have been away for a few days.


Due to the fact that I just cannot be constantly watching the charts - I am really only a very part time trader - I have decided to change the way I trade the system. It's up to you if you want to trade MBO on the short time frames or longer time frames but I am going over to the daily and 4 hr chart (using 1 hour chart purely for entry/exit) and looking for longer term (lasting for a day or more) "position" trades.

Sorry to tell you that I'm forced to ditch the EA's because I don't have the time to look after them -and it's really best not to "set and forget" the EA's unless the trend is nice and strong over a pre-longed period!

Welcome. Im new to the forum. Sorry for my English is not very good.
I think that you are looking for. Automatically draws the zone: http://pl.luktom.biz/Page/74/luktom-round-levels

Can someone describe in one post principle of input, output, size of the stop loss etc..
All the rules of the system in one post.
I think that it will be useful for many people. Me too.
Thanks

Hi Gvizdek

Thanks so much for the indi - Really useful - it shows the trading zone around the BRN's which is what I was looking for!

I'm using it on the 15 min and 5 min (short time frame) charts:

Hi everyone,

Well I have posted a new trade explorer - same thing - used the MBO system to pick up many pips!!


The great thing is that you can see that the maximum leverage I used was 50 cents a pip (5 micro-lots) but mainly used 2 micro-lots to increase the balance from $100 to $334


I have changed the settings on the "cci - nrp & mtf advanced" indi to far more aggressive period - then manually setting the trade when the signal turns blue or pink! SO EASY

Hi Jerry!

I see it so cci period you made changes, this no original period. Wich one are better?

Hi fxpro

I'm using the same setting as the MBO system (in MBO system PDF file) because it's more aggressive and gives an earlier signal especially on the longer time frames. I've alse changed the smooth factor to "3" instead of 5

But of course you can adjust it as you want, what suits your trading style (aggressive or conservative)

rgds

Hi everyone

I thought that I might as well try to explain the basics of our strategy. As you can see above, it works and can result in a lot of pips in a very short time.

Firstly though, I want to make it clear (from hard experience!) that with this system like most long-term strategies, one HAS to trade it with the right mental approach or attitude - one has to be almost detached, blasé or nonchalant when opening a trade manually. Then comes the biggest thing - PATIENCE! Vitally, patience is required when waiting for the right set-up to come along before opening any trade. Then patience is required if we intend to close the trade manually because there is always a temptation to close it too early!
Remembering that forex trading is NOT a "get rich quick" opportunity. Rather the way to win is to view it as a way to slowly accumulate money and grow one's account over an extended period. There is no doubt about it that when one trades low-leverage one wins but as soon as one starts high-leveraging it causes a "gamblers mentality" to develop which inevitably leads to ruin!

Remember that your broker WANTS you to use the high-leverage - it's a very quick and extremely easy way for them to relieve you of all the money in your trading account!!

THE MBO SYSTEM EXPLAINED - WITH CHARTS

OK - here's how we do it.

Firstly we use the LONG TIME FRAME to find the best and most reliable set-up using our CCI indi. Of course, a strong 4 hr trend is much more reliable then short term time frame trends. I use the 4hr chart but one can even use the daily chart for even greater reliability. I use the 4 hr chart because it obviously will result in more opportunities!

So we wait for the signal line to break through the 100 level on the 4 hr chart

The great thing about the CCI 4hr strategy is that it stops us from trading in obvious ranging periods when price action is going nowhere!

I have posted a EURJPY 4 hr chart below which illustrates the above very well. From 27th February to 6th March the signal line was between -100 and +100 so no trade. this would have saved you a lot of money when you may have been trying to trade false break-outs! But on 7th March the signal line broke through the +100 level. Well we could have simply opened a trade around 12225 but would have had a 50 pip draw-down when the price dropped back to 12177 How to get around that problem? Simple! We then drop down to the lower time frames - 15 min or even 5 min to wait for a retracement and for the trend to strengthen again - then open a trade on the break through of the 100 level on the lower time frame. I have attached a 15 min chart which shows a great opportunity around 12.15pm on 7th March.

Hi everyone

Well as you can see we got 67 pips so far today - I traded the system manually (GBPUSD) and got more pips 'cause I got in nice and early!


Here was the set - up - very easy and completely within our rules:


Firstly we saw at around 8.00am this morning from the 4 hr chart that the signal line was still well below the -100 level (see attached chart) but there was some retracement. That's GOOD! Because we could then go down to the 15 min chart. When I first looked at the 15 min CCI this morning it was above +100 level but no trade of course because the 4 hr chart CCI signal was well below the -100. So I waited for the signal line to show up a trading opportunity - the signal line broke below the "0" level round about 9.30 / 10.00 am and if we wanted (and I did!) we can open the trade in anticipation of the break-out!

Guys remember too the PPA rules that I mentioned earlier on in the thread. The set-up was even better because price action will often be attracted to and shoot through the trading zone BRN (especially when the price action is well below/above our 200 EMA) - in this case the BRN was 14900