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Magic 5 - five pips only

  • #701
  • Dec 19, 2014 11:42pm Dec 19, 2014 11:42pm
Can anyone tell me what should i need to do in this situation...
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  • #702
  • Dec 19, 2014 11:57pm Dec 19, 2014 11:57pm
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting zahidrock
Can anyone tell me what should i need to do in this situation... {image}
A BUY entry isn't according to the rules. Look at the RSI ... it should come from 30 upward ...

Rules in post #2 : "4. Enter set-ups ONLY on times where price 'comes from' critical RSI 70 or 30 zones."
MT4/MT5 EAs/Indicators/Alerts coder
  • #703
  • Dec 20, 2014 3:46am Dec 20, 2014 3:46am
Quoting zahidrock
Can anyone tell me what should i need to do in this situation... {image}


Look at your RSI....
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  • #704
  • Dec 20, 2014 8:01am Dec 20, 2014 8:01am
Quoting kleybenny
{quote} Hi Friends, I dont want to get into the fire, but I have to say that Im understanding the input from Dave. What he is saying is, that trading is not easy. And he is right! There is no Strategy which is profitable only following 2 or 3 rules. If you will only make this very soon will come a lot of bad trades, and will crash maybe your account. Not for nothing trading employees from trading banks, and other institutional investors are well-trained. They getting a special eduction over more years. A lot of this personal are studied mathematician....

Why would you say that trading is not simple? Is it because you have failed to find something which makes you comfortable to trade, or is it because you have lacked the ability of coming up with something which will help you reach your goals. The reality is trading APPEARS to be difficult, because we don't make it simple. We base our entries on bias, instead of very simple rules such as an extension is X and a reversal is Y.
I have not taken the time to look into TK5's system, but if he has followers, and bashers it must mean he is on to something. I honestly believe that no one should give anything away for free, especially in forex in which 5% a day could be obtained based on discipline. TK5 has decided to do so for his own reasons, which hopefully people would respect, but it is clear to see that not everyone respect what he has done.
  • #705
  • Dec 20, 2014 8:08am Dec 20, 2014 8:08am
Quoting FerruFx
{quote} A BUY entry isn't according to the rules. Look at the RSI ... it should come from 30 upward ... Rules in post #2 : "4. Enter set-ups ONLY on times where price 'comes from' critical RSI 70 or 30 zones."
can you draw on my picture which point are good for entry according with the rules
  • #706
  • Dec 20, 2014 8:31am Dec 20, 2014 8:31am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting zahidrock
{quote} can you draw on my picture which point are good for entry according with the rules
Just read the rules in post #2 and find your entry points ... It will be the best exercice you could do to learn the setup.
MT4/MT5 EAs/Indicators/Alerts coder
  • #707
  • Dec 20, 2014 9:57am Dec 20, 2014 9:57am
Quoting zahidrock
{quote} can you draw on my picture which point are good for entry according with the rules

Google fx blue trading simulator v2. That allows you to try out this method when the market is closed.
  • #708
  • Dec 22, 2014 5:59pm Dec 22, 2014 5:59pm
Quoting haircut
Hi again guys. This was a second trade for today and my second with this method again it won but would this have been considered a risky entry? I know it was close to what looks like the price finding support. Thanks for all helpful advice in advance. I am very excited by this method. Thanks {image}
Hi,why you trade gbpcad but it showed EURTPY trend?
  • #709
  • Dec 23, 2014 2:11am Dec 23, 2014 2:11am
Hi, Which broker do you uses ? because I opened the FX pro Ctrader and commissions are very high, seen on the screen demo 1:500
can you recommend me another?
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  • #710
  • Dec 23, 2014 3:52am Dec 23, 2014 3:52am
Quoting Turbobzik
Hi, Which broker do you uses ? because I opened the FX pro Ctrader and commissions are very high, seen on the screen demo 1:500 can you recommend me another? {image}
PM me mate
  • #711
  • Dec 23, 2014 5:10am Dec 23, 2014 5:10am
Quoting Mr.Ma
{quote} PM me mate
Hej ,how can I send You PM becase I dont see on your profil this function ?
  • #712
  • Dec 23, 2014 5:46am Dec 23, 2014 5:46am
Quoting Turbobzik
{quote} Hej ,how can I send You PM becase I dont see on your profil this function ?
Crazy... for some reason I can't send you one too.I try to figure it out
  • #713
  • Dec 23, 2014 7:16am Dec 23, 2014 7:16am
whats up 5ers..are you milking the market))
always draw trendlines
  • #714
  • Dec 23, 2014 7:17am Dec 23, 2014 7:17am
Quoting Turbobzik
{quote} Hej ,how can I send You PM becase I dont see on your profil this function ?
Turboman...ask angels to enable your PM))) so you can send turbo PM
always draw trendlines
  • #715
  • Dec 23, 2014 8:18am Dec 23, 2014 8:18am
On Christmas day and throughout the coming year, may your life be filled with good luck and prosperity. Merry Christmas to Tk5 and all mates of Magic5 thread !
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  • #716
  • Dec 23, 2014 8:48am Dec 23, 2014 8:48am
why it is so important ema 200?
  • #717
  • Dec 23, 2014 9:58am Dec 23, 2014 9:58am
Quoting redoktober
On Christmas day and throughout the coming year, may your life be filled with good luck and prosperity. Merry Christmas to Tk5 and all mates of Magic5 thread ! {image}
greetings red october, Lenin's friend
always draw trendlines
  • #718
  • Dec 23, 2014 10:11am Dec 23, 2014 10:11am
Hello tk5, and the rest of the thread followers!
I am curious about your strategy, took me almost 3 days to read the whole thread lol
Anyway, did some back tests, and it showed fine results. Would not call the exact percents, but winners were over losers.
Still, need something to be answered.
http://i.imgur.com/LZi7I6s.png
Trigger would be, the second common candle needs to be closed above/below the EMA, same colored as the previous one?
I mean, does it matter, what candle it would be (bearish or bullish), as long as HA are all colored the same? As, on the example above. See, after the bullish one, crossing EMA, following would be a bearish candle. But HA, are blue, signalyzing, that the price may go up. Still, it would be the trigger?
((I know, the price has not crossed the EMA 200 yet, and I am not "allowed" to buy, but I took that screenshot, just to illustrate, what is on my mind.))
Eh, kinda hard for me to formulate the question, but hopefuly, you got what I mean .

Merry Xmas and happy New Year!
  • #719
  • Dec 23, 2014 10:24am Dec 23, 2014 10:24am
Quoting MaximB13
Hello tk5, and the rest of the thread followers! I am curious about your strategy, took me almost 3 days to read the whole thread lol Anyway, did some back tests, and it showed fine results. Would not call the exact percents, but winners were over losers. Still, need something to be answered. {image} Trigger would be, the second common candle needs to be closed above/below the EMA, same colored as the previous one? I mean, does it matter, what candle it would be (bearish or bullish), as long as HA are all colored the same? As, on the example above....
well, because we look at HA candle, its the same color. in general you should avoid consolidating market. although in your example..it was consolidating to shoot up
always draw trendlines
  • #720
  • Dec 23, 2014 10:33am Dec 23, 2014 10:33am
Merry Christmas to all and a prosperous Happy New Year in advance.
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