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

  • #361
  • Jan 14, 2014 7:42am Jan 14, 2014 7:42am
Hi everyone

As you can see I started a new explorer with a view to only trading our bounce strategy to show any doubters how great it really is!

Guys we're going to re-look at how to set up our charts. I really want those who are following the strategy to move to the 30 min chart on our VPS (initially and THEN moving down as necessary!) and keep the daily charts open on our desktop. I will explain the change

Stick to big daily trading range pairs like GA,GZ,GC,EA,EZ,GJ,XAUUSD and perhaps GU with a view to picking up a lot of pips in a short period of time

Later on I will explain why I prefer the 30 min chart now and use an actual example - you'll see why it's much better!
  • #362
  • Jan 14, 2014 7:54am Jan 14, 2014 7:54am
Just want to show why you should have the DAILY chart open on your desktop with a view to checking the 4HR CHART occasionally.

Have a look at the bounces we've had on GZ and GU (attached charts) Remember that price action will often re-test dynamic support/resistance areas sometimes 3 or more times


Bounces off daily and 4hr chart dynamic support/resistance areas are a great place to open longer high pip yielding trades!


OK we've probably missed out on GU but looks like the bounce on GZ daily chart could still be open - looking from tonight when the new candle opens (go down to 30 min / 15 min chart to find a good place to enter LONG
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 45 KB
Click to Enlarge Name: gbpnzddaily.png Size: 43 KB
  • #363
  • Jan 31, 2014 9:42am Jan 31, 2014 9:42am
Hi everyone

Sorry if I've been a bit scarce lately. I was demo trading my ma bounce breakout strategy for quite a time. Frankly results were generally poor and the ea unreliable to say the least. So I really started to analyze things and came to the conclusion that the whole strategy is essentially flawed. To illustrate the point, have a look at the AJ chart below - it graphically illustrates the problem. We absolutely want to be trading the periods circled in white. Note that trending price movement often moves in fast violent spurts. IF we miss the move we are hoping on a new move after the price has retraced and IF the retracement is at the extreme end of the average daily range for that particular pair, we'll probably NOT get another "spurt" and end up with a losing trade! Not to say of course that trading a "bounce" does not always work - it does but only if the bounce is at the right place and at the right time and CRUCIALLY if there is support for the resulting move from the "big boys" or market movers! So as I said, we want to be only trading those moves circled in white. That's what I'm working on right now AND what the new trade explorer above is reflecting! Let's give it another week on demo - It's looking more then good so far, guys - if you want more info on the exact strategy that I'm using for this - just PM me
Attached Image (click to enlarge)
Click to Enlarge Name: audjpym15.png Size: 51 KB
  • #364
  • Edited 10:20am Feb 3, 2014 8:13am | Edited 10:20am
Hi everyone

Well that's 300 + pips in 3 days - lets see if we can get to 600+ pips by the end of the week

As I said, we're simply trading the drops not waiting for the rebounds which can be frustrating
  • #365
  • Feb 4, 2014 4:14pm Feb 4, 2014 4:14pm
Hi everyone

Well we lost 300 pips last night (hit by the Aussie positive news) due to forgetting to close 2 trades yesterday evening!

But as you can see from the TE we more then made up the loss today.

So factoring out the oversight we are now actually over 500 pips up - in 5 days!!

How am I doing it? Well the strategy is ridiculously simple although the streaming EA is not easy to understand - but it gets easier each day!

PM me if you want to know more - I'm really thinking of getting serious here and of forming a small online "trading circle" of 3 or 4 traders to trade this together, but depends where you are in the world of course.
  • #366
  • Feb 27, 2014 8:31am Feb 27, 2014 8:31am
Hi jmtini,

I've read the whole thread, it looks very interesting.
Currently I'm trading a simple London break out strategy what only takes 5 seconds per hour.
So that means I've got enough time to learn a other strategy

I'm definitely gonna try ur strategy!

Thierry
  • #367
  • Mar 22, 2014 4:36pm Mar 22, 2014 4:36pm
Quoting jmtini
{quote} Hi Blaiserboy No I haven't changed anything. I'm posting an AUDUSD chart from 20th December below. I'm also posting my 15 min chart template and daily chart template as well as all the indi's. (I've revised the 15min template to slightly open the 28 ema tunnel and a more prominent 12 ema.) Looking at the chart below we see that price action nicely broken out of the Asian high and tracked the 12 ema until late in the european evening. Next morning the trend broke down (broke through the 28 ema) so we would stay out! IMPORTANT - I've added...
This Indy was very busy looking for a macd according to the experts tab in terminal.
I canceled the macd out so that it is not so busy.
Attached File(s)
File Type: mq4 p1m1t LA.mq4   15 KB | 565 downloads
Our IMAGINATION is the true holy grail!
  • #368
  • Mar 29, 2014 9:17am Mar 29, 2014 9:17am
Quoting Leigh
{quote} This Indy was very busy looking for a macd according to the experts tab in terminal. I canceled the macd out so that it is not so busy. {file}


Hi Leigh

Thanks for that.
  • #369
  • Mar 29, 2014 9:33am Mar 29, 2014 9:33am
Hi everyone

Guys, referring back to post 363 I used a very good example (AUDJPY) to make this point:

Not to say of course that trading a "bounce" does not always work - it does but only if the bounce is at the right place and at the right time and CRUCIALLY if there is support for the resulting move from the "big boys" or market movers


Well I want to try to build on that trading principle. What I mean is that when we want look for "bounces" off our dynamic tunnel maybe on the 1hr, 30min or 15min charts we need to be sure of a strong trend by checking the daily or even 4 hr charts. Bounces off the EMA's that form the moving area of support/resistance of the tunnel are much more likely to occur when the higher time frame trend is strong.

So taking that example of AUDJPY from 31st January - just look at the hourly chart!

WARNING

If price action breaks through the 15 min tunnel - go up to the 30 min chart - if has broken through the 30 min tunnel - go up to the 1 hr chart tunnel.
Attached Image (click to enlarge)
Click to Enlarge Name: audjpyh1.png Size: 53 KB
  • #370
  • Mar 29, 2014 10:01am Mar 29, 2014 10:01am
EXAMPLE FROM LAST FEW DAYS - TRY SEGMENT/millipede TRADING - GBPUSD

OK let's take an good example which also opens up the interesting opportunity of using the uptrending tunnel as a chance to segment trade - leave your trades open a open a new position every time a new bounce occurs!


1/ We've seen from the daily chart (see attached) that GU is in a new upswing (uptrend) perhaps targeting 1.700

2/ We notice it's bouncing off the 15 min tunnel (see attached). I've drawn horizontal white lines at each bounce where we could have opened a new trade. Possible pip haul of 200 pips X 5 trades - Oh boy!!!

3/ Use the ma touch indi (email alert to your smartphone) so that you can manually open the trade or price_bounce_off_ma expert advisor to automatically open the trade (higher risk of course!)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusddaily.png Size: 46 KB
Click to Enlarge Name: gbpusdm15.png Size: 58 KB
  • #371
  • Apr 1, 2014 2:59pm Apr 1, 2014 2:59pm
Hi everyone

Well we've had around 30 opportunities on various trading pairs in the last two trading days to open winning trades or at least BE or at the very least a minor loss (because one can set a small SL just above/below our tunnel ema's.

Let's have a look at our example above further along. Yesterday we had a nice bounce at 9.00am which would have yielded 25 pips. Then around 2.30pm if we had manually traded the strong recovery there was a further 50 pips available. Today price action broke through due to bad manufacturing news - we DON'T trade around news breaks - this illustrates why!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm15.png Size: 61 KB
  • #372
  • Mar 23, 2016 9:38am Mar 23, 2016 9:38am
Quoting jmtini
Well we're rolling quite nicely this afternoon Round about +35 pips Amazing how little interest in our magic breakout bot trading. Anyway better to keep it it to ourselves guys! Why share a nice system with those who don't deserve it anyway! While we're demo-ing the bot ove the next week, I'll be happy to share the set-up with those who are genuinely interested
Jmtini ,
I would be interested to know how the success went with your BOT on the Magic Breakout system. I have the original manual system myself and have just recently found your post in regards to mods you have done for Magic Breakout and the EA you built. I was looking into building an EA myself as I am a FIFO worker in the mines so I am only ever home 4 days out of every second week, Automation is where I am looking to and then maybe manual when I am back home from the bush.

I already have the software to build the EA but a few tips would help, was going to build it via the original system though

Cheers
Greg
  • #373
  • Nov 6, 2016 3:17pm Nov 6, 2016 3:17pm
Quoting crootster
{quote} Jmtini , I would be interested to know how the success went with your BOT on the Magic Breakout system. I have the original manual system myself and have just recently found your post in regards to mods you have done for Magic Breakout and the EA you built. I was looking into building an EA myself as I am a FIFO worker in the mines so I am only ever home 4 days out of every second week, Automation is where I am looking to and then maybe manual when I am back home from the bush. I already have the software to build the EA but a few tips would...
HI, I just came across this thread, and wanted to get in touch with you. Did you ever get the EA based on the magic breakout system? Or do you have the indy that they sell with the system?
  • #374
  • Nov 7, 2016 1:41pm Nov 7, 2016 1:41pm
Quoting jmtini
Hi everyone As you can see I started a new explorer with a view to only trading our bounce strategy to show any doubters how great it really is! Guys we're going to re-look at how to set up our charts. I really want those who are following the strategy to move to the 30 min chart on our VPS (initially and THEN moving down as necessary!) and keep the daily charts open on our desktop. I will explain the change Stick to big daily trading range pairs like GA,GZ,GC,EA,EZ,GJ,XAUUSD and perhaps GU with a view to picking up a lot of pips in a short period...
HI I downloaded the daily gold template. I do not have the colourful wave. What other indys do I need on the template? Is this thread still active? Please help me to trade this system if it is active.
  • #375
  • Last Post: Jun 4, 2017 4:20am Jun 4, 2017 4:20am
Hi jmtini

I like the trading method .. hope you come back and add more information
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