The New FxMagnetic EURJPY 1.0 has been released
The new multi-timeframe FxMagnetic EURJPY has been released today. As you can guess already, now FxMagnetic indicator works on EURJPY currency pair and all its timeframes M1, M5, M15, M30, H1, H4, and D1.
FxMagnetic EURJPY opens new trading opportunities. Even more trading signals on all timeframes.
Of course, each timeframe produces different trading signals because of different algorithm parameters. Each timeframe works differently and they require different parameters to be traded profitably.
Different parameters produce different stats looking at the last 100 signals. Obviously, some timeframes perform better than the others and we see Winning Rate up to 65% 🙂
You can buy FxMagnetic EURJPY here.
FxMagnetic EURJPY stats on all time frames
Let’s take a look at the stats of the last 100 trading signals from FxMagnetic EURJPY on various timeframes.
Why 100? It is because 100 is the minimum amount of signals required for statistical significance. We cannot know accurate Win Percentage or any other results if we have less than 100 signals.
If FxMagnetic does not show 100 trading signals on your MT4 then it means your MT4 charts do not have enough price bars. Follow this tutorial to download more price bars in MetaTrader: How to show more price bars and candles on the MT4 charts
Note that stats on your MT4 might be slightly different if you are using another broker. It happens because each broker has different price feeds and spreads. We use “FxOpen ECN Live” account for this example.
Also, note that Winning Percentage and other stats are constantly changing when markets form new highs and new lows and new trading signals are generated, etc. It does NOT mean that indicator repaints, it just means that when new signals appear the older ones are removed from the memory and indicator calculates statistics based on the last 100 trading signals to give you the most up to date information.
As markets change all the time we re-optimize the indicator to show the best possible entries according to its algorithm. Re-optimization is the essential part of any algorithm. Think like calibration of a compass, hygrometer, scale, or thermostat, etc.
FxMagnetic EURJPY on a 1-minute chart
Small time frames are always a challenge because there is so much noise. Personally, I am not a fan of low timeframes, but I found the best possible settings for all of them.
On a 1-minute timeframe indicator shows 42% Winning Rate based on the last 100 signals. This means that we have a bit more losers than winners, but that’s not a problem with the risk/return ratio of 2.17. Considering that on M1 FxMagnetic uses 60 pips for Stop-Loss and 130 pips for Take-Profit we definitely see a profit of +3132 pips.
This makes the risk/return ratio of 2.17; It means one winner eliminates 2 losses.
FxMagnetic EURJPY on a 5-minute chart
On a 5-minute timeframe indicator shows 65% Winning Rate based on the last 100 signals. This means that half of the trades are winners. Considering that on M5 it uses 81 pips for Stop-Loss and 85 pips for Take-Profit we definitely see a profit of +2690 pips. Not as impressive as other time frames, but that’s normal. Some time frames are better than others. Pick the one you like 😉
This makes the risk/return ratio of 1.05;
FxMagnetic EURJPY on a 15-minute chart
On a 15-minute timeframe indicator shows 55% Winning Rate based on the last 100 signals. This means that more than half of the trades are winners. Considering that on M15 it uses 79 pips for Stop-Loss and 130 pips for Take-Profit we see an enormous profit of +3595 pips.
This makes the risk/return ratio of 1.65;
FxMagnetic EURJPY on a 30-minute chart
On a 30-minute timeframe indicator shows 54% Winning Rate based on the last 100 signals. This means we have slightly more winners than losers, but that’s not a problem but profit! Considering that on M30 it uses 90 pips for Stop-Loss and 135 pips for Take-Profit we see an enormous profit of +3366 pips.
This makes the risk/return ratio of 1.5;
FxMagnetic EURJPY on a 1-hour chart
On 1-hour timeframe indicator shows 40% Winning Rate based on the last 100 signals. This means more losers than winners, but don’t get fooled by Win Percentage. Considering that on H1 it uses a small 44 pips Stop-Loss and 141 pips for Take-Profit we see a profit of +2981 pips.
This makes the risk/return ratio of 3.20; It means one winner eliminates 3 losses.
FxMagnetic EURJPY on a 4-hour chart
On 4-hour timeframe indicator shows 53% Winning Rate based on the last 100 signals. This means we have slightly more winners than losers, but don’t be fooled by this. Considering that on H4 FxMagnetic uses 140 pips for Stop-Loss and 215 pips for Take-Profit we see an enormous profit of +5143 pips.
This makes the risk/return ratio of 1.54;
FxMagnetic EURJPY on a Daily chart
On the Daily timeframe indicator shows 50% Winning Rate based on the last 100 signals. This means that half of the signals won. Considering that on D1 it uses 300 pips for Stop-Loss and 520 pips for Take-Profit we see an enormous profit of +10991 pips.
This makes the risk/return ratio of 1.73;
FxMagnetic EURJPY on a Weekly chart
On the Weekly timeframe indicator shows only 22% Winning Rate based on the last 50 signals. There are not enough price bars in Forex history to show the last 100 signals, unfortunately. But don’t underestimate the low win rate of 22%. Considering that on a Weekly TF it uses 350 pips for Stop-Loss and 2100 pips for Take-Profit we see an enormous profit of +9456 pips.
The best thing about these numbers is the Risk:Reward ratio which is 6. Very rare to find such high RR.
FxMagnetic EURJPY on a Monthly chart
On the Monthly timeframe indicator shows 47% Winning Rate based on the last 21 signals. There are not enough price bars in Forex history to show the last 100 signals, unfortunately. But 47% win rate means that almost half of the signals are winners. Considering that on a Monthly TF it uses 500 pips for Stop-Loss and 1600 pips for Take-Profit combined with a high Winning Rate we see an enormous profit of +10500 pips.
This makes the risk/return ratio of 3.20;
So, which time frame is your favorite? Let us know in the comments below.
Weekly time frame (R-R=6.0);very rare.
I have a question. What drawdown was reached in % or dollars for example for account 1.000 dollars? Thank you for your answer.
Hmm, good question. FxMagnetic doesn’t have algorithm to calculate the drawdown. But that’s something to think about in the future.
Hi, May I know what broker you use to have this result? I had bought the FX Magnetic GBPUSD pairs, but I found out there is some different from actual result compared with your result.
Hi. We use FxOpen to optimize FxMagnetic algorithms and all the screenshots are from the FxOpen.
New eurjpy does not display parameters in the EXPERTS tab
Thanks for telling us about it. We’ll take a look at this asap.
Quick question: on each time frame, how long did it take for the system to execute 100 trades?
You have to check that yourself. Scroll back as far as the very last signal is displayed and check its date/time.
Weekly time frame (R-R=6.0);very rare.
which timeframe did you recomend for trading?
Everyone choose a timeframe they like. Higher time frames produce fewer signals.
My favorite is M30.
So if this is indicator only, we can run 3 charts, say 30M, H1 and H4, then manually take any signal as it appears, correct?
Yes, that’s correct. FxMagnetic tells you when to buy or sell.
First of all, congratulations for the performance levels and for the transparency about what to reasonably expect for a given trading capital. One question and one comment:
– About FXMagnetic “continuous re-optimization”. Does each version of the program include that capability and implements it automatically by changing the default parameter values or do you send a new version when you feel that a re-optimization is necessary?
– I support Rick’s request (09.13.18): It seems mandatory to have an idea of the ROI for each TF over the last 100 trades. And this includes the time dimension. Hence the beginning date of the previous 100 Trades should be listed so we can easily check it just by shifting the TF of the chart. I appreciate your efforts to keep your charts lean and clean but this seems fundamental to reach “perfection” ;-).
Michel, we create and send a new version of FxMagnetic when we feel that a re-optimization is necessary.
As about the date range of 100 signals, we hear you. We’ll see if we can implement this in the next version.
HI, if the indicator is saying BUY on 1H and SELL on 4H … does it mean we “could” trigger both orders at the same time ?
You can do that, but I would recommend to pick one timeframe and stick to its signals only. If you want to follow signals from different timeframes then I would recommend to choose two timeframes, one high timeframe and another one small For example: Daily and 30-minute.
My favorite is 30-minute.
Would I be correct in saying that the optimisation is based on 100% in scope date testing and no out of scope fitting was carried out as clearly the optimisation here is just using a best fit hence you get R2R = 6.0 In other cases we see recommendations where SL and TP settings are almost identical to each other so this has to be fitting to known historical data only?
Yes, it is fitting to the known historical data only because we never know the future data.