Magic 5 - five pips only | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

There is no Magic Moving Average - You need only one 1,116 replies

Demo contest only - 20 pips TP and 20 pips stop - Any TF 54 replies

I lose 40 pips and win 6 to 10 pips... 17 replies

Need Script/EA can only generate Magic number 5 replies

spread on GBP/JPY @ alpari is 12 pips intead of 7 pips they claimed to be 6 replies

Attachments: Magic 5 - five pips only
Exit Attachments

Magic 5 - five pips only

  • #21
  • Nov 28, 2014 1:57pm Nov 28, 2014 1:57pm
Quoting js5020
Here is one of mine in AJ,, had no idea of the future outcome of the candle as you can see, nor did/do I care, I was after 5pip. The trade itself was a bit risky (maybe not the best example here, sorry tk) as the rsi was nearing the 70. Price above the 200, the candle printed a low of .80 on my platform and at the time of trade the 5ema and candle bottom were touching, I took the trade and with spread (2.5) I got in at .83, got to 5 pip and I took profit,,, and as you can see about 10sec later someone wanted a boatload of AJ, but that's trading...
to support JS's post I hereby show what 2nd candle (many confuse it) and some other points.

http://img.ie/images/hg6c6.png
always draw trendlines
  • #22
  • Nov 28, 2014 2:30pm Nov 28, 2014 2:30pm
MT 4 TEMPLATE is attached.
Only, add pivot points yourself.
change RSI to 8

Take 4 trades a day x 5 net pips = 20 net pips.
0.3-0.5 lots each.
Attached File(s)
File Type: tpl Magic 5.tpl   2 KB | 1,390 downloads
always draw trendlines
  • #23
  • Nov 28, 2014 2:40pm Nov 28, 2014 2:40pm
This method works with all pairs except the below (ones with poor pip value):

Avoid them (especially gold)
Metals and Oil
USDZAR
USDTRY
USDRUB
USDSGD
USDMXN
USDSEX
USDDKK
USDPLN
always draw trendlines
  • #24
  • Nov 28, 2014 4:21pm Nov 28, 2014 4:21pm
thanks for your hard work here!!!

really appreciate it !!
  • #25
  • Nov 28, 2014 7:52pm Nov 28, 2014 7:52pm
Quoting Henry2501
Thanks TK5. Subscribed to this thread as well. Your method really is simple and works. I have been struggeling but this trading method has helped me. For now i am only aiming for 1% per day in my trading. Like you say if you cant do 4-5 trades a day you a pussy. Well thats ok. i am trading on my real account only and have made quite a few mistakes. Was building my account until 3 days ago lost 80% of my profits. I was not waiting for the correct signal and trying to over trade. This is my 5pip (1%) trade for the day. Only safe...
Hi Henry, great work mate that looks good!

Can you please share your H1 D1 indicator that shows the direction of the trend?

Thanks mate!
Life is like a snickers, its full of nuts!
  • #26
  • Nov 29, 2014 1:07am Nov 29, 2014 1:07am
Hey tk5,

would you please be so kind and explain me how the RSI takes place in this strategy?
which criteria should be present to filter the trades to say "yes" enter the trade and "no" stay out.
  • #27
  • Nov 29, 2014 1:28am Nov 29, 2014 1:28am
Quoting Mr.Ma
Hey tk5, would you please be so kind and explain me how the RSI takes place in this strategy? which criteria should be present to filter the trades to say "yes" enter the trade and "no" stay out.
"4. Enter set-ups ONLY on times where price 'comes from' critical RSI 70 or 30 zones. In this way IT"S SAFER!. "
Do you really need that explained?
  • #28
  • Nov 29, 2014 4:57am Nov 29, 2014 4:57am
Easy enough!!!

BUT, in the example in post #17 on page 1 price came out of the overbought area and the trade got closed in a loss...
So, is there now any reason for not askin this question??
Imagin a newbie is looking at the picture of the above named example without any explanation he will understand nothing!
  • #29
  • Nov 29, 2014 5:38am Nov 29, 2014 5:38am
mr.ma... read

It is a great strategy if you have time to operate in small tf ... you just need practice

I do not use because i have not time

I'll tell you what you have to do ...
draw trendlines in h4-h1 or m30 ... and enters in m15 or m30

practice until you do ... is very simple ... your eyes speak for yourself

look eur-usd.... enter in m30... for example
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu-h4-5pips.png Size: 122 KB
Click to Enlarge Name: eu-h1-5pips.png Size: 133 KB
Click to Enlarge Name: eu-m30...5pips.png Size: 133 KB
  • #30
  • Nov 29, 2014 5:53am Nov 29, 2014 5:53am
you used candles HA... I hate them
  • #31
  • Nov 29, 2014 6:01am Nov 29, 2014 6:01am
a clarification ...

the sell is in the green line ...
sall that you see has nothing to do with this strategy
  • #32
  • Nov 29, 2014 8:16am Nov 29, 2014 8:16am
hi,tk5,please comment the trade. why I loss two times trade.（the price is on EMA 200 and EMA 5, when you see the first candle but it is loss.)
Attached Image
  • #33
  • Nov 29, 2014 10:36am Nov 29, 2014 10:36am
How long time you are using this strategy and whats your success rate? can you share your statement with us?
  • #34
  • Nov 29, 2014 11:52am Nov 29, 2014 11:52am
Quoting zahidrock
How long time you are using this strategy and whats your success rate? can you share your statement with us?
why dont you try yourself and see.
my success wouldn't help you anyways.
always draw trendlines
  • #35
  • Nov 29, 2014 12:03pm Nov 29, 2014 12:03pm
Quoting tk5
{quote} why dont you try yourself and see. my success wouldn't help you anyways.
Yeah, from next market i will try to use your method, hope this will help me to get consistent profit
  • #36
  • Nov 29, 2014 4:02pm Nov 29, 2014 4:02pm
Quoting Mr.Ma
Easy enough!!! BUT, in the example in post #17 on page 1 price came out of the overbought area and the trade got closed in a loss... So, is there now any reason for not askin this question?? Imagin a newbie is looking at the picture of the above named example without any explanation he will understand nothing!
Hi Mr.Ma, I looked at post 17, copied the chart, drew in the 30 & 70 lines on RSI. Marked down the entries and saw that the RSI had passed the 30 or 70 line. I will try to post the marked chart if I can find out how to do that.
  • #37
  • Nov 29, 2014 9:26pm Nov 29, 2014 9:26pm
i think this thread is deviating by adding filter indicators, and changing their levels,
IMHO please watch the recent PA and enter the trade based on MA 70% of the time it will hit the TP, no need to crowd all other fancy indi in the chart, just be simple...​
  • #38
  • Edited 3:27am Nov 30, 2014 3:12am | Edited 3:27am
Hi Tk here is my graph, all these would of made the 5 pips, but it is easier to see when the market as passed, would these trade been perfect setups?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-m15-international-capital-markets.png Size: 61 KB
  • #39
  • Nov 30, 2014 4:36am Nov 30, 2014 4:36am
Great strategy that also incorporates a discipline
  • #40
  • Nov 30, 2014 4:59am Nov 30, 2014 4:59am
Quoting tk5
1. Enter (right on the second candle opened inside 5ema) Buy trades only if price is over ema200 (either m15 or H1 you choose) and only sell if below ema 200.

what if candles was near EMA 200 and cross it couple of the time . buy?sell?
Attached Image (click to enlarge)
Click to Enlarge Name: 2.jpg Size: 115 KB
2 traders viewing now