15m Magical MA - page 2
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Money Management
Only risk 2% - 4% per trade. This is to protect you from any MC cases.
No matter what system you use, money management will be the key toward the success.
So as emotion CONTROL.
Be reminded that our MAGICAL MA works perfectly during trendy day, works poorly during non-trendy day.
Demo trade the MAGICAL MA before you trade the real.
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
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.
I was just wondering if this is too much risky on live.
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?
I basically use this method on 15m on EU and GU.
Entry
Long :
Price made a HIGHER LOW and trading above our magical ema, place your buy limit order few pips above the HIGH
Sell :
Price made a LOWER LOW and trading below our magical ema, place your sell limit order few pips above the LOW
SL and TP
Refer to the example I going to post soon, and you will get the idea.
Add-On1:
Whenever you found SL is wider than your TP 1, skip the trade unless for some exceptional cases. This is due to risk:reward ratio is not 1:1 and above.
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?
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.
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.
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.
Wher are you oing GU ?
Wher are you oing GU ?
Thanks mph. It's nice to see Raghee's system put into action.
She has some free colored candles that go with her 34 EMA wave too. I don't want to post them and make it look like I am hijacking your thread. So i'll just post the link.
www.ez2tradesoftware.com/GRaB_indicators.rar
I found that I had to mod the MQ4 and recomplile with wider bars because I like fat candles.