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Magic 5 - five pips only

  • #941
  • Aug 26, 2015 11:24am Aug 26, 2015 11:24am
Quoting redoktober
{quote} The usual problems:1 ) Hurry . 2) Not strictly respect the simple but fundamental rules of this system . In particular, the hurry ( together with greed ) are the biggest enemies for a trader . E.g. anticipate and do not let close the HA candle is a huge mistake .We have to let the M15 candle closes, see the his color, see its position with respect 5Ma and only at that moment, open the trade. PS : 100% - 85% = 15 % . Losses are only 15% ...
redoktober, if I may ask, what pairs are you trading and what is your trade management (stoploss)? thanks in advance!
  • #942
  • Aug 26, 2015 1:43pm Aug 26, 2015 1:43pm
Quoting kaiser soze
{quote} redoktober, if I may ask, what pairs are you trading and what is your trade management (stoploss)? thanks in advance!
Hi Kaiser Soze ( The Usual Suspects , wonderful movie ! ) .
SL : as Tk5 said " Stop-loss is discretionary : at the discretion of the user. Dont forget this is short term trading , if you enter with proper setup, very rarely it will
go against you. However , to be on safer side , just place SL little below the last candle of opposite color (if long, below of last bearish candle Heiken Ashi)."
Pairs : mainly EurUsd ; sometimes UsdJpy ; never GbpUsd.
  • #943
  • Sep 4, 2015 10:16am Sep 4, 2015 10:16am
I am a bit confused about the RSI. If price is below the 200 SMA on the chart, we want to be going short and if it is above, we want to go long.

If we're going short, we want the RSI to be around 70 or above, to show overbought, because this means we have a good position to go short when the signal to enter arrives. But on my RSI, it is almost never at 70, it is most often at 30 or below, which is no good because that would be good set ups for going long.

It is also the reverse when price is above the 200 SMA and I want to go long. The RSI never goes near 30 and is often at 70, which is only good for shorts trading toward the direction of the 200 SMA which isn't allowed.

Can someone explain please?

Any help is appreciated.
  • #944
  • Sep 5, 2015 2:27am Sep 5, 2015 2:27am
Quoting tehmac
I am a bit confused about the RSI. If price is below the 200 SMA on the chart, we want to be going short and if it is above, we want to go long. If we're going short, we want the RSI to be around 70 or above, to show overbought, because this means we have a good position to go short when the signal to enter arrives. But on my RSI, it is almost never at 70, it is most often at 30 or below, which is no good because that would be good set ups for going long. It is also the reverse when price is above the 200 SMA and I want to go long. The RSI never...
Initially 70-30 touches is meant for general purpose not only trending based on 200...
In case of 200 following, you dont have to locate testings of 70-30- because its already in solid trend that we need.
therefore, RSI's closer approaches to 70-30 are also fine..
Attached Image (click to enlarge)
Click to Enlarge Name: fvaiqt.jpg Size: 99 KB
always draw trendlines
  • #945
  • Sep 16, 2015 4:45am Sep 16, 2015 4:45am
Hello Kaiser ,
are you trading with this system ?
  • #946
  • Sep 16, 2015 2:43pm Sep 16, 2015 2:43pm
Quoting redoktober
Hello Kaiser , are you trading with this system ?
Yes....but for some reason, I seem to lose track of what the higher tf (1hr) is doing....hence I added higher TF candle on chart (see attached)....thanks for asking, how are you getting on with it still?
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYecnM15.png Size: 28 KB
Attached File(s)
File Type: mq4 AnyCandle v1.2.mq4   16 KB | 411 downloads
  • #947
  • Sep 17, 2015 9:03am Sep 17, 2015 9:03am
Quoting kaiser soze
{quote} Yes....but for some reason, I seem to lose track of what the higher tf (1hr) is doing....hence I added higher TF candle on chart (see attached)....thanks for asking, how are you getting on with it still? {file} {image}
please dont add anything to the system..it will confuse people..
always draw trendlines
  • #948
  • Sep 28, 2015 8:32am Sep 28, 2015 8:32am
Can anyone tell me is it under rules or not?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_5.png Size: 29 KB
  • #949
  • Sep 29, 2015 7:25am Sep 29, 2015 7:25am
Quoting mahdihasan
Can anyone tell me is it under rules or not? {image}

Well to start with you are not even using the Magic 5 pip strategy, so whatever rules you are looking for you won't find in this thread.
  • #950
  • Oct 2, 2015 4:40am Oct 2, 2015 4:40am
Quoting tk5
{quote} please dont add anything to the system..it will confuse people..
yeap, listen to TeKe , keep it simple...
  • #951
  • Nov 9, 2015 1:45pm Nov 9, 2015 1:45pm
Whats up humble traders...

Id love to see stories , results of you guys. Any millioners so far ?

Btw, just to remind my email for requests, cant use messaging...[email protected]
always draw trendlines
  • #952
  • Nov 9, 2015 2:45pm Nov 9, 2015 2:45pm
Over years of being in market I have come to one conclusion - one major barrier to consistent intraday trading is News, news and news (econonic calendar)..
This is only thing that disrupts tecnically analysed entry ideas or entries.
always draw trendlines
  • #953
  • Nov 10, 2015 2:04am Nov 10, 2015 2:04am
Quoting tk5
Over years of being in market I have come to one conclusion - one major barrier to consistent intraday trading is News, news and news (econonic calendar).. This is only thing that disrupts tecnically analysed entry ideas or entries.
It would be great to see you in a live session or, at least, a video with you explaining everything with a real trade session.
  • #954
  • Nov 10, 2015 1:07pm Nov 10, 2015 1:07pm
Quoting acenpt
{quote} It would be great to see you in a live session or, at least, a video with you explaining everything with a real trade session.
I have posted trading video, check my early posts.I plan to shoot new video soon
always draw trendlines
  • #955
  • Nov 10, 2015 2:27pm Nov 10, 2015 2:27pm
Quoting tk5
{quote} I have posted trading video, check my early posts.I plan to shoot new video soon
You're the best!
Tks. Take care
  • #956
  • Nov 10, 2015 4:37pm Nov 10, 2015 4:37pm
That would be really super TK.

I've seen that you are also trading with volume. Maybe you could somehow incorporate volume with your 5 pips method?

Anyhow, really looking forward to your new video.

Regards, MP.

Quoting tk5
{quote} I have posted trading video, check my early posts.I plan to shoot new video soon
"Never interrupt your enemy when he is making a mistake" Napoleon Bonaparte
  • #957
  • Nov 15, 2015 1:45am Nov 15, 2015 1:45am
Quoting partimedog
DONT forget to change EA number on each pair.............
Is there any fixed number or my choice?
  • #958
  • Edited 10:26pm Nov 16, 2015 9:32pm | Edited 10:26pm
Bit off topic, and thanks for sharing your strat...you use c trader Right ?

How do you shift the MA in c trader. The moving averages are not as easy to plot like mt4.

I dont have much experience with it...but thinking about changing.

Thanks for help if anyone can reply.

Edit : Found something ......anyway for anyone else that wants to know, you can search for c trader indicators here :

http://ctdn.com/algos/indicators
  • #959
  • Nov 17, 2015 12:02am Nov 17, 2015 12:02am
Quoting tk5
{quote} I have posted trading video, check my early posts.I plan to shoot new video soon
Hi, also interested in your new video TK.
  • #960
  • Nov 17, 2015 7:36am Nov 17, 2015 7:36am
Quoting Forexmeoff
Bit off topic, and thanks for sharing your strat...you use c trader Right ? How do you shift the MA in c trader. The moving averages are not as easy to plot like mt4. I dont have much experience with it...but thinking about changing. Thanks for help if anyone can reply. Edit : Found something ......anyway for anyone else that wants to know, you can search for c trader indicators here : http://ctdn.com/algos/indicators
web version has shifting...for dekstop version use Triangular ma
always draw trendlines
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