15m Magical MA - Page 2

mphpopular · #11 (**permalink**) 06-11-2009, 12:27 AM

Quote:

Originally Posted by colombino

Thanks for the system,
I also think, the 1-2-3 pattern is very powerfull. How is you win/loss ratio?
Maybe you can test fibonacci expantion as TP.

70% win if you can master it well and without any emotion intervention.

Sometime when you did trade wisely, you can make a full 100% winning trade for the month.

Wish you tons of pips.

mphpopular · #12 (**permalink**) 06-11-2009, 12:37 AM

I will close my remaining position if the price tend to break the HIGH and also the MAGICAL MA.

This is what I meant on POST 5 during the example : We exit the remaining position when we have a opposite form of formation

Quote:

I usually took 50-60% profit at TP 1, 20% at TP 2 and let the remaining run until the price goes above the MAGICAL MA or a formation of HL.

Btw EU h1 also show a TL as a support.

You may consider reverse your position as it breaks above the MAGICAL MA. But I will let it pass since I didn't like to trade the ASIAN session.

fxbs · #13 (**permalink**) 06-11-2009, 03:16 AM

why "magical"? from the book? - otherwise sounds a bit not serious, don't you think?

rushiwowen · #14 (**permalink**) 06-11-2009, 03:39 AM

Thank you, mphopular. Great method!

mphpopular · #15 (**permalink**) 06-11-2009, 04:06 AM

Quote:

Originally Posted by fxbs

why "magical"? from the book? - otherwise sounds a bit not serious, don't you think?

The word just simply pop up in my mind and I just named it. The content is much more important, isn't it?

lshn · #16 (**permalink**) 06-11-2009, 06:12 AM

Because this has to have huge SL.
I only used it today giving me 17pips but I'm still not sure.

what's your opinion towards SL?

mphpopular · #17 (**permalink**) 06-11-2009, 09:14 AM

Quote:

Originally Posted by lshn

Because this has to have huge SL.
I only used it today giving me 17pips but I'm still not sure.

what's your opinion towards SL?

SL will be various depending on each trade. LIke the first example I shown (POST 5), it has smaller SL.

But the trade I taken yesterday, have a wider SL.

But there one rules we must bear in mind, whenever you found that the SL is larger than your TP 1. Skip the trade unless for some exceptional cases. (Bcoz risk ratio should be at least 1:1 and above)

Add-on1:
Do you mind to post the chart of the trade you taken?

lshn · #18 (**permalink**) 06-11-2009, 12:33 PM

Quote:

Originally Posted by mphpopular

SL will be various depending on each trade. LIke the first example I shown (POST 5), it has smaller SL.

But the trade I taken yesterday, have a wider SL.

But there one rules we must bear in mind, whenever you found that the SL is larger than your TP 1. Skip the trade unless for some exceptional cases. (Bcoz risk ratio should be at least 1:1 and above)

Add-on1:
Do you mind to post the chart of the trade you taken?

So sorry that I didn't make the snapshot. However, when I trade, I will definitely take a picture to post.

mphpopular · #19 (**permalink**) 06-11-2009, 02:22 PM

THIS TRADE SHOULDN'T BE TAKEN

Refer to the screenshot:

I didn't take the SHORT although it qualify all the requirement due to H1 TL was holding as a support.

SHORT only can be taken if the TL h1 broken.

mphpopular · #20 (**permalink**) 06-12-2009, 02:06 AM

Enter LONG at the blue rectangle box
(look at both h1 and m15 blue rectangle box).

Reason:
HH HL formation in m15
Broken resistance area (yellow line) in h1

I didn't enter the LONG at the first "H" due to:
It is during Asian session
The resistance area not yet break up.