Magic 5 - five pips only | Page 38 | Forex Factory

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Magic 5 - five pips only

  • #741
  • Jan 1, 2015 4:06am Jan 1, 2015 4:06am
For some unknown and ungrounded reason my status changed to Commercial Member. I ask all mates here to disregard this status, I have had no commercial posts or threads on this forum.

For contacting me privately my email is: [email protected]
always draw trendlines
  • #742
  • Jan 1, 2015 4:13am Jan 1, 2015 4:13am
As you can see moving this thread to Commercial Content is totally ungrounded. Because never on this thread I posted anything commercial.
always draw trendlines
  • #743
  • Jan 1, 2015 4:27am Jan 1, 2015 4:27am
Welcome back Tk5 .
Commercial or not, the important thing is to talk again about Forex.
  • #744
  • Jan 1, 2015 4:50am Jan 1, 2015 4:50am
thanks Redoktober.

Now I know this forum is full of retards and cheap bandwagons. Thankfully I could identify them, the cheaters.
Some wannabe traders tried to modify or even copy this method.

As an enough experienced fx trader ( I also have stock trading backround) I hereby warn all that no EA, no fancy indicator can replace this specific method of trading.

TRADING IN FINANCIAL MARKETS MUST BE MANUAL. ESPECIALLY FOR BEGINNERS.
always draw trendlines
  • #745
  • Jan 1, 2015 5:04am Jan 1, 2015 5:04am
Quoting tk5
thanks Redoktober. Now I know this forum is full of retards and cheap bandwagons. Thankfully I could identify them, the cheaters. Some wannabe traders tried to modify or even copy this method. As an enough experienced fx trader ( I also have stock trading backround) I hereby warn all that no EA, no fancy indicator can replace this specific method of trading. TRADING IN FINANCIAL MARKETS MUST BE MANUAL. ESPECIALLY FOR BEGINNERS.

seems that some members miscreded you maybe as an revenge or something try to talk to ff moderator and see why you get this commersila member status. And lets get back to trading and this method and forget Ea´s and people that do what they can to spoil this thread.

Best regards
  • #746
  • Jan 1, 2015 5:10am Jan 1, 2015 5:10am
By the way after detailed research I switched back to RSI 14. 8 gives too many hasty/too early signals.
always draw trendlines
  • #747
  • Edited 5:38am Jan 1, 2015 5:23am | Edited 5:38am
CORRECTION PULLBACKS ARE YOUR FRENEMIES.

One single biggest mistake made by traders (mostly beginners) from my observation is given below.

due to hasty or blind following of market and price movements traders enter wrong setups called pullbacks which seem to happen couple times even being signaled by RSI thus confusing you.

So on this chart I describe this issue and urge to avoid those quick pullbacks during correction after big movements.
The yellow highlighted vivid movements reach very extreme levels beyond 70 and 30 preparing you for serious correction before continuing the main trend.

Dont trade those NOs
Wait those pullbacks to occur couple times. Then retesting of Ema200 will guide you when re-enter market's trend.

LEARN TO WAIT!

http://img.ie/images/d22ir.jpg
always draw trendlines
  • #748
  • Jan 1, 2015 8:10am Jan 1, 2015 8:10am
TK5,

This seems to be what happens to some successful forums. Its leader gets nailed as Commercial. I suspect it is usually an indicator of the success of the thread, and the FF sponsors are not really making a killing off the forum followers.

Of course, it would be good to remove the Commercial label, but I hope you will press on regardless. You have done an excellent thing with Magic 5. Keep it up. Don't let the haters win.

Best New Year to you!

FS
  • #749
  • Jan 1, 2015 8:56am Jan 1, 2015 8:56am
Hear,hear..I am also wishing TK and everybody on this thread all the best and success into New Year and......many Pips to all.
  • #750
  • Jan 1, 2015 8:59am Jan 1, 2015 8:59am
Quoting tk5
By the way after detailed research I switched back to RSI 14. 8 gives too many hasty/too early signals.
I had been checking on that RSI to 14 myself TK.. (I was starting to trust 12 more than 8 but wasn't sure).. thanks for the green light on the RSI adjustment

Happy New Year to everyone.. and good luck this year..

Chaz E

USA
  • #751
  • Jan 1, 2015 1:08pm Jan 1, 2015 1:08pm
Pure and real essence of Magic 5:

Magic 5 is merely about safer/stable accumulation of positive trades by being satisfied with 5 net pips within a time period (say, 1 hour).
always draw trendlines
  • #752
  • Jan 1, 2015 8:08pm Jan 1, 2015 8:08pm
Quoting tk5
CORRECTION PULLBACKS ARE YOUR FRENEMIES. One single biggest mistake made by traders (mostly beginners) from my observation is given below. due to hasty or blind following of market and price movements traders enter wrong setups called pullbacks which seem to happen couple times even being signaled by RSI thus confusing you. So on this chart I describe this issue and urge to avoid those quick pullbacks during correction after big movements. The yellow highlighted vivid movements reach very extreme levels beyond 70 and 30 preparing you for serious...
with only 5 pips tp i think you dont need to worry about those pullbacks.
  • #753
  • Jan 2, 2015 3:37pm Jan 2, 2015 3:37pm
New Year's "Resolution"

I hope virtually all of us can sign on for this -- let's truly focus on the method and getting better and better at its execution and pass on any personal battles.


Let's face it, this forum will always be a manually traded as TK wants it, with good experience and judgment. Of course, it is not the only way to trade, BUT if you want to trade with an EA or a pile of indicators, this isn't for you. By all means, start a new forum with your focus, but you probably will find it's a lot of work running it and no more effective. I'm sure TK would agree.

I want to particularly thank TK5 for carrying us this far . . . and not letting it all blow up. I know there have been frustrations with people and most recently the Commercial tag for some reason. I also want to personally offer my appreciation to Olarion1975 and PhilippineFX for their ideas and sharing. For sure, seeing their ongoing success with Magic 5 is uplifting to those of us working to become steadily successful. It goes without saying that our biggest cheer should go to TK for presenting this concept in a public forum for all to see and use.

I am looking forward to next week as the markets ramp up again. I'm sure most of us will be back to it by the 7th. I wish you all your four successful trades each day.

Happy New Year again, and blessings to all,

FS
  • #754
  • Jan 2, 2015 4:23pm Jan 2, 2015 4:23pm
Quoting Forest-Sea
New Year's "Resolution" I hope virtually all of us can sign on for this -- let's truly focus on the method and getting better and better at its execution and pass on any personal battles. Let's face it, this forum will always be a manually traded as TK wants it, with good experience and judgment. Of course, it is not the only way to trade, BUT if you want to trade with an EA or a pile of indicators, this isn't for you. By all means, start a new forum with your focus, but you probably will find it's a lot of work running it and no more effective....
....well put......back in the day when i had a straight job my boss was a guy named Scot who had more focus than anyone i ever knew.....He would sit quietly at a meeting while everyone else would spin their wheels in the sand going no where. At the right moment he would interject with "And Moving Forward." Those 3 simple words always worked at the right time.....now is that time....lets keep the good groundwork of TK moving forward.
  • #755
  • Jan 2, 2015 4:49pm Jan 2, 2015 4:49pm
Happy new year to all and a big thanks to tk5 for sharing his method with us all.
  • #756
  • Jan 2, 2015 11:07pm Jan 2, 2015 11:07pm
Finally, I had finished read all the post from page 1 till page 38. I was trying demo account while reading this thread. But I am still finding a bit hard for looking entry (Bcoz the time normally look at the chart afternoon 2-5pm and 9pm -12am my place. GMT +8) Anyway, I am still a forex beginner where still in the learning process. I would like to thank TK first for opening this thread and sharing with us.
I would like to wish you guys Happy New Year 2015. Sorry for the late wishes.
  • #757
  • Jan 3, 2015 5:07am Jan 3, 2015 5:07am
hey mates, appreciate your warm words. I am glad to make some difference.

Although my status change is totally unjustified. I will see. In case this goes on I may close the thread at all.
always draw trendlines
  • #758
  • Jan 3, 2015 5:18am Jan 3, 2015 5:18am
Quoting tk5
hey mates, appreciate your warm words. I am glad to make some difference. Although my status change is totally unjustified. I will see. In case this goes on I may close the thread at all.

Ok and what do you hope to gain by close this thread ?

best regards
  • #759
  • Jan 3, 2015 5:29am Jan 3, 2015 5:29am
Quoting jgadefelth
{quote} Ok and what do you hope to gain by close this thread ? best regards
you better ask this from the forum administration


i am not here to gain sth except for new friends and connections.
always draw trendlines
  • #760
  • Jan 3, 2015 5:36am Jan 3, 2015 5:36am
Quoting tk5
{quote} you better ask this from the forum administration i am not here to gain sth except for new friends and connections.
Ok am not sure i understand it is not the forum administration that are saying they might just close the thread it was you right ? They have not closed your thread they have made you comersial it is up to you and your desition if you want to close the thread. If it makes you feel better or you think you have something to gain from closing it i think you should do. But i think there are some people here that will be sorry about it because they are here and try to learn and trade this way.

Best regards
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