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45 Combo - momentum system

  • #141
  • Jan 23, 2015 1:31am Jan 23, 2015 1:31am
Hello to all... late start for me tonight.. solid activity here, it's nice.


Guys try to avoid trades before start of sessions... whatever sessions that you chose, trade after openings of it, that is where liquidity rolls in therefore you see momentum.

So far there has been couple of signals... eu long and uj short...
  • #142
  • Jan 23, 2015 1:41am Jan 23, 2015 1:41am
Quoting celestin2003
Long GU hit 20pip TP !!
Please show your chart...
I don't see a valid signal there. Please correct me if Iam wrong.

Edit: EU out at TS
  • #143
  • Jan 23, 2015 1:43am Jan 23, 2015 1:43am
Took this UJ short marked with the yellow line, assuming this is a valid trade. I am putting the stop 1 pip above the swing high, almost got stopped, around BE now, we'll see what happens. Backtesting has looked good, trading live now, thanks for the system Tycoon, I like your style.

Attached Image (click to enlarge)
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  • #144
  • Jan 23, 2015 1:55am Jan 23, 2015 1:55am
Be aware of red eu news coming up in 10 min and the next one in 40 min... since its back to back it's better to stay out for the whole 40 min.

if you got a floating use wise management... either you risk and stay float or close the trade for whatever it is.



ps) uj just burst down to near +20 target if not hit it already... I would for example close that and close my eu trade (at +10atm) and stay on the sideline with +30 for the next 40 min.
  • #145
  • Jan 23, 2015 1:59am Jan 23, 2015 1:59am
Quoting jwpdad
Took this UJ short ...
TP +20 hit, yes it's wise to stay on the sidelines for a bit.
  • #146
  • Jan 23, 2015 2:01am Jan 23, 2015 2:01am
Quoting Mr.Ma
{quote} Please show your chart... I don't see a valid signal there. Please correct me if Iam wrong. Edit: EU out at TS
Mr Ma... this is the classic reason why I don't play aggressive TS... same deal with uj, if you look at that trade, it has dodge many bullets before hitting the target but the nature of 1m is very well as such more often than not... since our stop per trade is rather very low (uj about -6) the better play is to let the trade to play out it's course, find it's way before cutting it short without giving it a chance.

Just humble live observation.
  • #147
  • Jan 23, 2015 2:02am Jan 23, 2015 2:02am
Quoting jwpdad
{quote} TP +20 hit, yes it's wise to stay on the sidelines for a bit.
Well done although way through jwdad.
  • #148
  • Jan 23, 2015 2:06am Jan 23, 2015 2:06am
GU setting up for a sell ....Can't show chart; At work & using NetDania online charts...
  • #149
  • Jan 23, 2015 2:14am Jan 23, 2015 2:14am
Live observations...
If anyone is anticipating signals on gu and ej... what your witnessing is aggressive PB's... which now the 5ema cross has confirmed the strength of the PB and therefore the signal is filtered, especially gu with mac turning opposite as well.
  • #150
  • Edited 2:50am Jan 23, 2015 2:33am | Edited 2:50am
Quoting HighFivve
I make one click on buy/sell stop 7 points away from current price. As you see you can pre-set your lot size, SL/TP size. This is fast and solid. I think it should be a great help. {image}
a Quik Q.. so you post an order on the DOM 7 pips or .7 pips higher then 5 Ema candle close ,if your target is short ...Thanks in advance [/quote]

Your question is not clear to me...

This is how it goes... when valid signal arrives, I make one click on the buy/sell stop order 0.7 pips away from the current price and order with trigger price, SL, TP all placed simultaneously. You need to be prepared for the 10second before the close of 1m candle... 59 second goes to 00 you click, thats it.

I hope it answers your question.
  • #151
  • Edited 2:53am Jan 23, 2015 2:43am | Edited 2:53am
Quoting jwpdad
Thanks fx-Tycoon for posting your method. Do you set a daily loss limit, i.e. stop trading for the day if losses total 20 pips, etc.?
Because of my short trading session (3-4hrs) I just play the whole time, at most I can have 6-8 possible signals and if all are losses then so be it which will be no more than 40-50 pips worst case scenario. But usually by the 1st couple hours of eu action I can see the true condition and in the bad condition I try to survive it for the least damage and walk away from that day. I hardly ever have had more than -30 day.
One of the reason I don't play with hard -10 SL vs SL beyond the HL is to keep the avg loss low during bad cycles.

If anyone who trade the whole eu session or a 8hour session it's highly recommended to have daily loss limit.
  • #152
  • Jan 23, 2015 3:19am Jan 23, 2015 3:19am
Quoting fx-Tycoon
{quote} Mr Ma... this is the classic reason why I don't play aggressive TS... same deal with uj, if you look at that trade, it has dodge many bullets before hitting the target but the nature of 1m is very well as such more often than not... since our stop per trade is rather very low (uj about -6) the better play is to let the trade to play out it's course, find it's way before cutting it short without giving it a chance. Just humble live observation.
Cheers on that hint!
I will try it out!

For me it is very important to save my capital as soon as possible... I may have not that much TPs but I stay save most of the time.

Iam currently forward testing the system with the whole data from 2014.
I will do the work and test it with TS and another yearly test without TS.

Just for me to feel save in what Iam doin.
  • #153
  • Jan 23, 2015 4:05am Jan 23, 2015 4:05am
Todays Trade.

EJ= BE
UJ=BE
EJ= -10
EJ= +20

Missed EU Trade
Attached Image (click to enlarge)
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  • #154
  • Edited 4:35am Jan 23, 2015 4:21am | Edited 4:35am
Quoting fx-Tycoon
Watch the chart and look at the box and tell me why should not take action on such signals?? {image}
Ok, about this little quiz I put out yesterday which end up with some more level of participation later on, I feel I should elaborate on as I think is one of key elements or at least it is to me where using it effectively.
Some of you came close with the answer so good on you, it means your brainstorming on your own.

This type of signals are high risk due to following factors...
1) The momentum move was barely above 10 pips... which according to the structure I gave out it's valid but not superbly strong, now mix that with...
2) The risk of the signal (the stop loss of -10) is almost equal to the size of the the whole momentum move...
3) ..therefore, most times in such scenarios you will have your trigger point on the very height of the momentum move which chances of bounce off is expected.

Now put all the above together and you end up with a rather weaker signal.

The ideal signals are the ones with nice extend momentum gauged by both in pips away from crossover and the longer extension of the 5ema from 40ema... then pulling back and resuming nicely for decent size stops risk amount and some distance between entry point and the height of the momentum move.

So, when you gauge that gu signal compare to ideal common signal (2nd image), it would not be too hard to reco on the flip the difference in terms of risk and potential, to choose wisely.

In summery, You want balance...
The so called formula will go something like this:
* Mediocre momentum, max size stop, with not much distance = higher risk lower potential trade...
* Stronger momentum, mid size stop, with some distance (or as long as is not on the very height) = lower risk higher winning potential trade.

With great focus during trading session you should be able to see this on a coin and play accordingly.

This is another important post which I will add to the first post.


Cheers
Attached Images
  • #155
  • Jan 23, 2015 4:55am Jan 23, 2015 4:55am
All right folks I am out to bed... took one winner today out of uj last run to finish the week out.

I check up on the thread from time to time over the weekend to answers questions if any.
Have a nice weekend.


Cheers,
  • #156
  • Jan 23, 2015 7:02am Jan 23, 2015 7:02am
Quoting fx-Tycoon
Be aware of red eu news coming up in 10 min and the next one in 40 min... since its back to back it's better to stay out for the whole 40 min. if you got a floating use wise management... either you risk and stay float or close the trade for whatever it is. ps) uj just burst down to near +20 target if not hit it already... I would for example close that and close my eu trade (at +10atm) and stay on the sideline with +30 for the next 40 min.
i suggest also to look at this website:

http://www.dailyfx.com/calendar

there was not one red news for EU or EJ trades...and also no impact at the time the news came out.

personally i like to take a closer look when i am not sure about the impact of red news on forexfactory.com
trading is like dancing, don't think and just listen to the music!
  • #157
  • Jan 23, 2015 7:23am Jan 23, 2015 7:23am
Quoting fx-Tycoon
{quote} Ok, about this little quiz I put out yesterday which end up with some more level of participation later on, I feel I should elaborate on as I think is one of key elements or at least it is to me where using it effectively. Some of you came close with the answer so good on you, it means your brainstorming on your own. This type of signals are high risk due to following factors... 1) The momentum move was barely above 10 pips... which according to the structure I gave out it's valid but not superbly strong, now mix that with... 2) The risk...
cheers for that nice explanation!!!
golden!!
  • #158
  • Jan 23, 2015 7:40am Jan 23, 2015 7:40am
Quoting Mr.Ma
{quote} cheers for that nice explanation!!! golden!!
i would like to join with mr.ma...thx!
trading is like dancing, don't think and just listen to the music!
  • #159
  • Jan 23, 2015 8:28am Jan 23, 2015 8:28am
Good One with USD/JPY
Thanks fx-Tycoon

BBF
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BigBlackfeet Always on the(forex) war path !
  • #160
  • Jan 23, 2015 11:16am Jan 23, 2015 11:16am
Quoting birdland
{quote} i suggest also to look at this website: http://www.dailyfx.com/calendar there was not one red news for EU or EJ trades...and also no impact at the time the news came out. personally i like to take a closer look when i am not sure about the impact of red news on forexfactory.com

Dear birdland... no matter the color in any different site, the fact is anytime there is a European Flash Manufacturing PMI release will be whipping moves 90% of times, therefore it's better to stay put.


Cheers
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