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Magic 5 - five pips only

  • #101
  • Dec 2, 2014 3:36am Dec 2, 2014 3:36am
Quoting attilafx
Proof. {image}
Lucky escape there attilafx, I was just about to post that I had thought about that trade but decided against because of the size of the trigger candle and the fact that red news was due 30 mins after entry.
You must have tight spreads, I'm not sure I could have squeezed 5 pips in that trade from my broker.
Getting there, slowly but surely...
  • #102
  • Dec 2, 2014 3:46am Dec 2, 2014 3:46am
Quoting attilafx
Proof. {image}
Risky entry in my opinion but anyway, it worked! So

Did you catch the down movement? I think it was less risky and even easier to spot so you maybe have done another 5 pips
  • #103
  • Dec 2, 2014 3:46am Dec 2, 2014 3:46am
Quoting attilafx
First try, 10K only till i get the hang of it. +5 {image}
Hey mate, I'm no expert, but I think your RSI should be set to 8...

Good Luck!
Life is like a snickers, its full of nuts!
  • #104
  • Dec 2, 2014 3:47am Dec 2, 2014 3:47am
Quoting Edlich
{quote} Lucky escape there attilafx, I was just about to post that I had thought about that trade but decided against because of the size of the trigger candle and the fact that red news was due 30 mins after entry. You must have tight spreads, I'm not sure I could have squeezed 5 pips in that trade from my broker.
Totally agree. I couldn't have squeezed 5 pips in that trade
  • #105
  • Dec 2, 2014 3:53am Dec 2, 2014 3:53am
Quoting Edlich
{quote} Lucky escape there attilafx, I was just about to post that I had thought about that trade but decided against because of the size of the trigger candle and the fact that red news was due 30 mins after entry. You must have tight spreads, I'm not sure I could have squeezed 5 pips in that trade from my broker.

Change brokers you need tight spread for this method
  • #106
  • Dec 2, 2014 4:05am Dec 2, 2014 4:05am
Quoting littlecraig
{quote} Change brokers you need tight spread for this method
I'm in the process of doing that, currently with Alpari UK. Their ECN acc has a minimum 3 full lots, which is a bit high when testing the water with a new method and their 'classic' account has spreads such at 6 pips on GB/JP and circa 3.5 on EU/JP, which are unworkable for this kind of trading. Took a while to get round to leaving, I've been using them for years.
Getting there, slowly but surely...
  • #107
  • Dec 2, 2014 5:36am Dec 2, 2014 5:36am
Quoting alberduris
{quote} Risky entry in my opinion but anyway, it worked! So Did you catch the down movement? I think it was less risky and even easier to spot so you maybe have done another 5 pips
Just a bit.
Attached Image (click to enlarge)
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  • #108
  • Dec 2, 2014 5:39am Dec 2, 2014 5:39am
Having this one still open ....

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot from 2014-12-02 12:38:29.png Size: 15 KB
  • #109
  • Dec 2, 2014 6:26am Dec 2, 2014 6:26am
Quoting attilafx
Having this one still open .... {image}
did you mess up threads
always draw trendlines
  • #110
  • Dec 2, 2014 6:27am Dec 2, 2014 6:27am
Ok coffee break.

Inserted Video
always draw trendlines
  • #111
  • Dec 2, 2014 7:36am Dec 2, 2014 7:36am
Quoting tk5
{quote} did you mess up threads
No Forgot to close that one based on your setup.
  • #112
  • Dec 2, 2014 7:36am Dec 2, 2014 7:36am
Hello, i am trading you system at 1H chart, can you please explane me the stop loss?
how much should it be like 10 pips 20 ?
i am trading like this if it goes near to 5 pips, i close and doont care if it goes another 100, just need my magic 5!
  • #113
  • Dec 2, 2014 8:13am Dec 2, 2014 8:13am
Quoting tsoo
Hello, i am trading you system at 1H chart, can you please explane me the stop loss? how much should it be like 10 pips 20 ? i am trading like this if it goes near to 5 pips, i close and doont care if it goes another 100, just need my magic 5!
Kindly read the whole thread please, to save unnecessary posts cluttering it up
Getting there, slowly but surely...
  • #114
  • Dec 2, 2014 8:55am Dec 2, 2014 8:55am
Hi tk5
Thanks for all the info, I am demo trading it IC Markets cTrader, I was wonder is it possible to share the HA candle for ctrader.
thanks again, keep up the good work.
  • #115
  • Dec 2, 2014 8:56am Dec 2, 2014 8:56am
Quoting desiboy
Hi tk5 Thanks for all the info, I am demo trading it IC Markets cTrader, I was wonder is it possible to share the HA candle for ctrader. thanks again, keep up the good work.
yes pm-ed you.
always draw trendlines
  • #116
  • Dec 2, 2014 9:45am Dec 2, 2014 9:45am
Still finding my feet with this really, so a bit on the over cautious side, but a couple of CT winners today, no losses, can't complain
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: EURJPYM15.png Size: 64 KB
Getting there, slowly but surely...
  • #117
  • Dec 2, 2014 11:23am Dec 2, 2014 11:23am
Hi All, newby to this thread. I took three 15 tf trades today, all winners. There were more but I was cautious. I also do not want to take trades where the spread is more than 2 pips which limits me with my broker. The one criteria of the strategy that I am struggling to meet is the RSI moving back from above 70 to under and below 30 to above.

I took Euro, Cable and Oz this afternoon

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM15.png Size: 19 KB
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15.png Size: 21 KB
Attached Image (click to enlarge)
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  • #118
  • Dec 2, 2014 12:51pm Dec 2, 2014 12:51pm
Quoting attilafx
{quote} Just a bit.{image}
Great dude! I knew you caught it hahaha
  • #119
  • Dec 2, 2014 1:08pm Dec 2, 2014 1:08pm
Very nice looking system, maybe someone can share a EA with a set-in TP and SL?

Thank you
  • #120
  • Dec 2, 2014 2:17pm Dec 2, 2014 2:17pm
Quoting Brandon66
Very nice looking system, maybe someone can share a EA with a set-in TP and SL? Thank you
Like the idea Brandon and I know someone who is trying but once you start to look in detail there are a number of areas where judgement is used (consolidating and short candles) that make automating it harder. we will see.
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