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

BTW , picked up a 100 pips last night on GBPNZD (2 X 50 pips) using that new PB off MA strategy I mentioned.

Works very well off the higher value EMA's.

Hi everyone

Well 239 pips today - not too bad!!

Could have been many more as I missed some great PB off MA trades - One great one was GJ (see chart below) for 100 pips (I've circled the bounce) - it was very easy to read and I saw it coming but forgot to set up the EA!!!


I have changed a couple of CCI settings on the the 1 min chart strategy - works a whole lot better now!

Hi everyone

I've been a bit quiet due to trying to iron out the "kinks" in our 2 EA's and templates.

Got them going nicely now and as you can see, 337 pips in 2 days - not bad going!!

Basic rules are:

Only trade when PA breaks above/below previous trading session high/lows
Trade only when PA bounces off our DASR at least once
We firstly check our daily charts of course to determine the trend!
Use the EA's to either bounce trade off DASR or open trade when PA breaks 0verbought/oversold levels on CCI

I am still using the "9 charts at a glance" for checking the daily trends:


Strong trends: GJ, AJ, UJ, EJ, GZ, AUDCHF

Glad to hear your strategy is doing so well J! What are you trading live at the moment?

Pete

Hi Pete

If you want the set up just PM me

I have been "test driving" the strategy for nearly a month. It's no good experimenting with real money until one gets it right! I've formulated some very hard and fast rules now which if followed religiously will nearly always result in gains.

This attached chart shows nicely the system in an uptrend. Note the number of blue breakouts- we can easily trade those (multiple entries). However we are within the session high/low so only a 50/50 trade!

Hi everyone

Well nice couple of days to cement our system.

IT'S VITAL TO UNDERSTAND THE MARKET BEHAVIOUR LIKE WE HAD TODAY.

Very much a "2-way street" day, and taking GBPJPY as a good example, we see nice falls in first half of the day session whereas a nice rise in the second half.

How do we (a) not get caught (b) benefit from this and maybe make some nice pips?

We'll be looking at this over the weekend

OK

So we are looking at market behaviour.

What is vitally important to remember is this: NEVER PREDICT - ALWAYS ADJUST!!

What I'm trying to say is - if the market changes direction - i.e. from a downtrend to an uptrend, we are going to close our sell trade and only open buy trades! Now I know that what I am saying might sound ridiculous but how many people are NOT doing that every single day? Why? because they are trying to predict a continuation rather then adjust to a new situation! Why ? It's that old fear of loss again. So really it comes down to good MM accompanied by never being over-leveraged . A 20 - 30 pip SL can quickly be offset by a 50 -60 pip gain by adjusting to a new trend!!


Using MA's (in my view) is absolutely vital to ascertain trend direction and strength. Have a look at my GBPJPY 5 min chart from yesterday. I've circled the key area when the trend changed and I use those key EMA's to gauge the strength of the trend. This is vital because a strong trend means a lot of pips in a relatively short period of time.

Hi everyone

Well started a new explorer again this week with nice results - really not too difficult to pick up 150 odd pips and could have netted many many more if I gave it the time!!

Hi everyone

Well - finally getting it right as the above explorer should graphically illustrate!

Simple - daily / 5 min / 1 min chart breakout strategy


Will reply to all emails this weekend


Rgds

Jerry

- ready to go live mate?

Hi Themaxx

Sorry to all as to not keeping you informed of my plans on that

Waiting until 10 days time when I will be moving EAST! In fact will will be GMT + 3

Middle east??? All the best with the move.

Thanks! another job but I'll have a lot more time to trade and those nice hours (especially for AUD, JPY pairs) between 4.00am - 8.00am (GMT) - will be able to trade now.

Hi everyone

Well it's a typical Monday!

Countertrends everywhere except GBPNZD which looks like a strong revival of the trend upwards

Gold possible downwards?

Hi everyone

OK!

Just about ready to start trading again live using the new strategy. Started a new demo account Tuesday this week and almost doubled the balance.

All the best!

Hi everyone

I've started using a new EA today on my VPS - so now I'm using three EA's depending on the circumstances - trending or ranging.

The new EA opens a trade when price action penetrates a selected MA (EMA or SMA) on any time frame. The great thing about this particular EA is that it closes out the trade and opens a new trade in the opposite direction if price action reverses. Great for breakout trading!

Remember too that you can set up your MT4 platform to send an email alert to your smart phone when price action hits a particular level or MA. Excellent for the longer time frames. I've attached a GBPNZD hourly chart with areas (circled in white) where alerts could have been set up. Obviously you can do the this on whatever trading pairs you chose.

If you don't know how to set up the alerts just let me know.

Hi everyone

As mentioned, I'm moving to a different time zone from the end of this month. In the meantime I have been testing a whole new "magic breakout" system on the higher time frames utilising the vegas tunnel. With very much gratitude to Cyber1, I have also got an EA to trade the system!

What does it mean? Well it means that we have far more time to set up our charts and also means that we can leave our EA to open trades and because the minimum profit is 80 pips, look forward to a very nice profit!!

It's already worked very nicely today on GOLD and yesterday on AUDCHF

Today, GBPAUD, GBPNZD and USDJPY look good - countertrend (a little bit more risky of course!)

Worked perfectly guys!

865 pips in a week - not too bad, huh?