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45 Combo - momentum system

Quoting Mr.Ma
{quote} cheers for that nice explanation!!! golden!!
Glad to be a help.


Cheers
Quoting birdland
{quote} i would like to join with mr.ma...thx!
YW.


Cheers
Quoting BLACKFEET
Good One with USD/JPY Thanks fx-Tycoon BBF {image}

YW, it sure was a good one I made my pips out of the very same signal too.


Cheers
Ty can we trade all day ? i know u said its up to u. but it will work with the same efficiancy another time ? sorry about my english (
Quoting micQ-fx
Ty can we trade all day ? i know u said its up to u. but it will work with the same efficiancy another time ? sorry about my english (
Your English is fine my friend.

I think if one sticks religiously to the systems plan of trading and use of some commonsense daily management, should prevail in the end trading the whole London and NY session. Today for example would have presented massive amount of profit.. only ej was good enough for several +20 winners. Due to positive RR and low average loss nature of my system it should be profitable in the long run.

However, considering the nature of forex market, I personally believe in order to be a consistent earner one should not be in the market for too long of a time per trade and per day. Living example was the massive drop of CHF fiasco last week.

So better to be in the market for limited time, each day, and each trade to make your target and come back next time.

I hope it helps.
Quoting fx-Tycoon
{quote} Your English is fine my friend. I think if one sticks religiously to the systems plan of trading and use of some commonsense daily management, should prevail in the end trading the whole London and NY session. Today for example would have presented massive amount of profit.. only ej was good enough for several +20 winners. Due to positive RR and low average loss nature of my system it should be profitable in the long run. However, considering the nature of forex market, I personally believe in order to be a consistent earner one should not...
thank u very much for very good explanation .i will trade EU and US session .it shuold be ok for me
Quoting micQ-fx
{quote} thank u very much for very good explanation .i will trade EU and US session .it shuold be ok for me
NP, just make sure you read and fully absorb the important posts links that I have placed in the 1st post... those filters and risk measurement pointers are even more of keys to success when trading long sessions.

Best of luck.
Hi and thanks for sharing your momentum system Fx-Tycoon.

I've read the whole thread and just started to check it over metatrader. Ok let me begin with EJ on friday market:

Attached Image (click to enlarge)
Click to Enlarge Name: GU.png Size: 25 KB


1. By your system criteria, the first signal is a correct short signal. Fortunately it has gone in our favor and T/P has been hit.
2. The second signal is part of a previously hit and matured trend and within the last minutes of our trading time (3 first hour of EU market), but its still a winner. Would you go for such a trade too or not?
3. The third one is 17 minutes after our trading time but if we caught it this one would be a winner too.

My question is: How long do we have to follow a trend if it signals right?

Thanks in advance
Abtvah
Hello

Nice thread you have put up. Am following you all the way.
Hi, fx-tycoon,

I'm a PA person and I never go down more than H1 before, because I understand that you can't see better PA on timeframe of less than M30. So any time i try to trade on M30 or less I always get myself panic, not to talk of M1 timeframe. When I saw your thread, I wanted to run away as usual, but I later decided to try it out. I have now forgo my trading method of 8yrs. And now I bless the day I saw your thread. Thank you for sharing. I'm following you closely now.

I want you to put more light on this your saying "The signal candle is the 1st candle cross close the 5ema....." (my question is this: Is the signal candle the entry candle or the next candle after the signal candle). Thank you
Be Dumb and Follow Price
Nice and neat little system! Thanks very much, fx-Tycoon. Although indicators are used, PA seems to be king, thanks to the clever use of entries and exits supported by an effective money management strategy. Remember fx-Tycoon's very first "do": 1) I believe in my system and stick with it through thick and thin. That's the main requirement of a system, to believe in it that is, an then act accordingly.
While the thread is still short and non believers or trolls or newbies with silly questions (I see quite a few already showing they haven't taken the time to even read over these few pages) start to clutter it, since rules and filters are already well defined, I took the liberty to make a pdf with all the relevant posts made by fx-Tycoon and a few followers. I hope he won't mind and that this will help the lazy ones.
Attached File(s)
File Type: pdf 45 Combo - momentum system by fx-Tycoon.pdf   882 KB | 1,047 downloads
Quoting abtvah
Hi and thanks for sharing your momentum system Fx-Tycoon. I've read the whole thread and just started to check it over metatrader. Ok let me begin with EJ on friday market: {image} 1. By your system criteria, the first signal is a correct short signal. Fortunately it has gone in our favor and T/P has been hit. 2. The second signal is part of a previously hit and matured trend and within the last minutes of our trading time (3 first hour of EU market), but its still a winner. Would you go for such a trade too or not? 3. The third one is 17 minutes...
abtvah,

Well you’re asking the million dollar question bud. There is no way to know for sure when trends exhausts, bounces or continues on, So, I can’t tell what to do either way. Some days PA runs so beautifully with every signal hitting the target such as ej Fridays and someways it just doesn't even when momentum is the same or even greater. So trying to figure it out or make any sense out of it to plan on it for constant profitability would make a bit crazy, due to uncertainty nature of this market. obviously nothing new to you, me or everyone else here.

The only thing a trader can do is to have a sound risk management. This is what I done.
Read below for details…

As you see my RR on my signals are 1:2-2.5… so if you do keep taking all kind of signals for longer trading sessions you know that you’re losing half or 1/3 of each of your winners, so positive RR is a great asset as a whole but more so in the case of what you’re asking.
Secondly, you also see me operating a very short session of trading starting from EU open where liquidity comes in, and eying to bank and protect +20 for each day. This would allow one the chance to be involved from the start of any fresh trend to take advantage before it dies down or failing to continuing on.

With what said above if your goal is consistency on set targets (posting wins each and every day or week) then you may very well automatically see no need to take shots (valid ones) deep into trends or any other lower risk trades because mostly likely you have already made your daily goal or beyond it and you see no need for it to risk your money.

This is the best explanation I can give you.


Cheers
Quoting lifeideas
Hello Nice thread you have put up. Am following you all the way.
Thank you and humble.


Cheers
Quoting fxrabbi
Hi, fx-tycoon, I'm a PA person and I never go down more than H1 before, because I understand that you can't see better PA on timeframe of less than M30. So any time i try to trade on M30 or less I always get myself panic, not to talk of M1 timeframe. When I saw your thread, I wanted to run away as usual, but I later decided to try it out. I have now forgo my trading method of 8yrs. And now I bless the day I saw your thread. Thank you for sharing. I'm following you closely now. I want you to put more light on this your saying "The signal candle is...
fxrabbi,
wow forgo a trading method of 8 years!! I don't know what to say. As much as I love hearing you found great potential in my system but I also feel obligated to tell you or ask of you to make sure you cope with it personally as well, due to the fact that your coming from a much longer term of trading style. As experience as a trader that you sound to be I am just humbly expressing my little opinion. You know best anyways and I would love to see you do very well, if you need anything I am here.

The answer to your question is: The next candle.
The signal cancel has to close in order to confirm a valid signal.. the very next candle is traceable where you should quickly within the first couple of seconds place your buy/sell order.


Cheers
Quoting Hammertop
Nice and neat little system! Thanks very much, fx-Tycoon. Although indicators are used, PA seems to be king, thanks to the clever use of entries and exits supported by an effective money management strategy. Remember fx-Tycoon's very first "do": 1) I believe in my system and stick with it through thick and thin. That's the main requirement of a system, to believe in it that is, an then act accordingly. While the thread is still short and non believers or trolls or newbies with silly questions (I see quite a few already showing they haven't taken...
Hammertop,

I don't mind.
Thanks for contribution.

Cheers
Quote
abtvah,

Well you’re asking the million dollar question bud. There is no way to know for sure when trends exhausts, bounces or continues on, So, I can’t tell what to do either way.
The only thing a trader can is to have a sound risk management. This is what I done. Below the detail…
As you see my RR on my signals are 1:2-2.5… so if you do keep taking all kind of signals for longer trading sessions you know that you’re losing half or 1/3 of each of your winners, so positive RR is a great asset as a whole but more so in the case of what you’re asking.
Secondly,...

Thanks Fx-Tycoon for your comprehensive explanation. I'm trying to fully understand the concept behind this system as it could be a winner for me too.
From what you have mentioned I guess that our priority is to catch the first movements (what we call it momentum here) of any possible trend that caused by new injected liquidities at markets opening. Correct me if I'm wrong, there could be 2 possible scenarios when market starts a new trend :

a. Considering that we are observing the PAs, we can wait for a signal and enter at initial stages of the emerging trend.
b. We have already lost the initial phase and are in the middle/at the end of the matured trend, in which you believe there won't be a wise choice to start a trade here.

One more thing, what if the EU market starts from the middle of a previous trend and there wont be any obvious shifts in prices by the time we see our signal? Is it still tradable in momentum system?

Cheers
Abtvah
Fx tycoon. I was reading the thread and saw you live on the west coast. I do as well. So when you state EU session, how do you manage it? The first 3 hours? Do you mean about 11pm to about 2pm?

It's taking it's time but I am focused on finding a system that can bring a profit during the nyc/asian session. Have you tried it on other sessions besides first 3 of the EU session?
I love forex. One day it will love me back.
Quoting Singha83
Fx tycoon. I was reading the thread and saw you live on the west coast. I do as well. So when you state EU session, how do you manage it? The first 3 hours? Do you mean about 11pm to about 2pm? It's taking it's time but I am focused on finding a system that can bring a profit during the nyc/asian session. Have you tried it on other sessions besides first 3 of the EU session?
Singha83,
Yes, 11pm to 2am… EU open is at 11pm for us as you know. I get at my desk usually half an hour before for preparation purposes.

How do I manage it!!, not sure what you mean exactly, but I make sure I am fully energized and focused to stay sharp during my session. Once I reach my daily goal and above, then around 3rd or 4th hr I look to close shop and go to bed. Whether I win, lose, up, down, sideways or whatever heck else the result, once time hits 2pm I walk away from my station and right into my bed. Believe it or not it’s one of the major keys to success, at least for me it has.. can not lose sleep time, when and if that happens it effects my daily routine and life overall.
I do have a daily routine that I go through each day which revolves around having me prepared for my trading session. Maybe another time if there are more interests I go to the details for west-coasters sake.

About Asian session… long ago I realized the best time to trade FX market is the London session especially its first a few hours when and if liquidity is meant to roll in. Asian session is simply too slow for me and not consistent volatility wise.

Cheers
Quoting fx-Tycoon
{quote} Singha83, Yes, 11pm to 2am… EU open is at 11pm for us as you know. I get at my desk usually half an hour before for preparation purposes. How do I manage it!!, not sure what you mean exactly, but I make sure I am fully energized and focused to stay sharp during my session. Once I reach my daily goal and above, then around 3rd or 4th hr I look to close shop and go to bed. Whether I win, lose, up, down, sideways or whatever heck else the result, once time hits 2pm I walk away from my station and right into my bed. Believe it or not it’s one...
You are right the best time is on the London session and I think that may have a gap and swing/shake-afterwards (a bit worry!).
Hello to all... getting prepared to start trading session in about 30 min.

Some of the things I do before open:

* Mark the Red news on my chart... only one (German ifo) two hours from open.
* Set my lot size I want to trade for the day or week.
* Set my TP/SL in DTM tool.
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