What are magic numbers and how to assign them to your trades when using Alom?

What are magic numbers?  #

Choose any numbers that make sense and are systematic for you.

The magic number can be any digit, such as 1, 2, 3, 4, 5, or even longer, but using excessively long numbers defeats the purpose.

Magic number

How to assign magic numbers?  #

Assign numbers systematically to different currency pairs and trade types to easily identify and manage your trades.

For example, use 1 for the main pair and 2 for an interim pair, and use 1 for EUR and 2 for USD. Combine these numbers to create your magic number, such as 112 for main EURUSD and 212 for interim EURUSD.

Ensure that these numbers are unique and not identical to any magic number assigned to existing trades.

What if I want to open another trade of the same pair?  #

Assuming that you already have an existing trade on EURUSD and you wanted to open another trade on EURUSD.

To do so, open additional chart tabs to trade EURUSD, add a zero at the end of the magic number for each new tab, such as 1120 or 2120 for the second tab and 11200 or 21200 for the third tab.

Summary of magic numbers #

Magic numbers can be any random number but they must be unique and different for each chart tab that houses Alom. The key is to use a numbering system that is meaningful and intuitive to you. Think of magic number as the fingerprint of each trade – no number should be the same. 

What are your feelings
Updated on May 19, 2023