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45 Combo - momentum system

  • #241
  • Jan 26, 2015 4:30am Jan 26, 2015 4:30am
Quoting profitkeeper
Ty, could you comment on Crete's entry (on his chart). It doesn't look right to me.

Sure... but only after when you answer my question
  • #242
  • Jan 26, 2015 4:38am Jan 26, 2015 4:38am
Alright folks... pretty good activity from most in here today... I am off to bed with +20... dodged some potential trade losses with risk management/filters, but it's a norm when trading m1 to watch many factors based on your plan.

Night from WC, Stay safe.


Cheers
  • #243
  • Edited 6:01am Jan 26, 2015 4:43am | Edited 6:01am
Quoting fx-Tycoon
{quote} Your gu trade is right at red news release.. it's another No signal.
allright i see, thx!...missunderstood the rules, thought its only for the currency which is red.
trading is like dancing, don't think and just listen to the music!
  • #244
  • Jan 26, 2015 7:40am Jan 26, 2015 7:40am
Very nice thread! Already subscribed!

One question left me here: How did you come up with a 20 Pip TP ? Does it just fit well with your Risk Management? Or did the momentum moves reach 20 pips on average?

Keep up the good work, I will follow it.
Thanks

Hoffi
  • #245
  • Jan 26, 2015 7:41am Jan 26, 2015 7:41am
Quoting fx-Tycoon
{quote} 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...

Hi fx-tycoon,

Thank you for your respond, my first trade with this system, taken at early hour of the opening for the week (sunday night), which I have never done before, but for the sweetness of the system, which I did and it was straight to TP. Thank you, fx-tycoon.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 56 KB
Time always comes before price
  • #246
  • Jan 26, 2015 11:35am Jan 26, 2015 11:35am
Morning... by just over looking the charts NY session would not have been too bad either for some positive results.

I reply to your posts one by one now.
  • #247
  • Jan 26, 2015 11:38am Jan 26, 2015 11:38am
Quoting Hoffi4201
Very nice thread! Already subscribed! One question left me here: How did you come up with a 20 Pip TP ? Does it just fit well with your Risk Management? Or did the momentum moves reach 20 pips on average? Keep up the good work, I will follow it. Thanks Hoffi


Hoffi,

Thank you and welcome to the thread.

Answer to your questions:
* Risk management… RR needs to be twice.
* It’s just the right amount of expectation out of 1m swings.
* When enough liquidity is there, then probability is high to reach the 20 mark, and when it’s not, even 5 point mark is a stretch for it… so who knows. That is why risk control rules for me. When stop is too high on a given trade together with momentum measurement of the signal… I just go ahead and pass on it.


Cheers
  • #248
  • Jan 26, 2015 11:57am Jan 26, 2015 11:57am
Quoting birdland
{quote} allright i see, thx!...missunderstood the rules, thought its only for the currency which is red.

Birdland,

EUR and USD news impacts cross the board… but GBP news or YEN news would not have much effect if it’s not paired.
For eg, when there is a GBP news, I ignore it on ej and uj… but take it into account on eu.


Cheers
  • #249
  • Jan 26, 2015 11:57am Jan 26, 2015 11:57am
Quoting fxrabbi
{quote} Hi fx-tycoon, Thank you for your respond, my first trade with this system, taken at early hour of the opening for the week (sunday night), which I have never done before, but for the sweetness of the system, which I did and it was straight to TP. Thank you, fx-tycoon. {image}


Great to hear your first one was a confident winner.


Cheers
  • #250
  • Jan 26, 2015 12:00pm Jan 26, 2015 12:00pm
Quoting Crete
{quote} Here is a pic of the setup and entry. {image}


Crete,

This trade is valid but not from where you entered… need to wait for full confirmation with PA resume after PB to cross-close the 5ema… seem like you jumped the gun on this.
If one makes a habit of this kind of action then you'll soon find yourself trading everything with no structure = disaster.

At the time of session I did miss your entry point to mention it then.

Cheers
  • #251
  • Jan 26, 2015 12:14pm Jan 26, 2015 12:14pm
Hi, FX Tycoon..

Made my first +20 U/J trade with your system today.. Hope this looks right..
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM1.png Size: 55 KB
  • #252
  • Jan 26, 2015 12:52pm Jan 26, 2015 12:52pm
Quote:
6) I do not take trades with less than 2R’s. So if the stop is greater than 10 pips, it’s a reject.

Hi Ty,


Great thread. I took your advise and read the thread from the beginning (again ☺).
Would you explain your comment above please. i.e. what do you mean by 2R's.

TY in Advance jj
  • #253
  • Jan 26, 2015 1:28pm Jan 26, 2015 1:28pm
Quoting JayJay
Quote: 6) I do not take trades with less than 2R’s. So if the stop is greater than 10 pips, it’s a reject. Hi Ty, Great thread. I took your advise and read the thread from the beginning (again ☺). Would you explain your comment above please. i.e. what do you mean by 2R's. TY in Advance jj
2R just refers to risk-reward. The profit should be at least 2x stop loss.
  • #254
  • Jan 26, 2015 1:45pm Jan 26, 2015 1:45pm
TY PKeeper,
So, my TP should be at least two times the number of pips from my stop.
i.e. on a long trade I would place a SL on the previous swing low. My TP should be 2 X the distance from the Swing Low and my entry. Am I understanding this correctly.

TY in advance jj
  • #255
  • Jan 26, 2015 1:45pm Jan 26, 2015 1:45pm
Quoting JayJay
Quote: 6) I do not take trades with less than 2R’s. So if the stop is greater than 10 pips, it’s a reject. Hi Ty, Great thread. I took your advise and read the thread from the beginning (again ☺). Would you explain your comment above please. i.e. what do you mean by 2R's. TY in Advance jj
Good to hear you do that.

Profitkeepr already answered your question.
Thx PK.
  • #256
  • Edited 1:58pm Jan 26, 2015 1:46pm | Edited 1:58pm
Quoting revrobwimb
Hi, FX Tycoon.. Made my first +20 U/J trade with your system today.. Hope this looks right.. {image}
Please read the thread or at least the first couple of pages.

No swing qualify to begin with... entry incorrect... and I wonder how you got 20 out of a whole 10 pips move... maybe your talking about some other instance and you put up a wrong image.
  • #257
  • Jan 26, 2015 1:53pm Jan 26, 2015 1:53pm
Quoting JayJay
TY PKeeper, So, my TP should be at least two times the number of pips from my stop. i.e. on a long trade I would place a SL on the previous swing low. My TP should be 2 X the distance from the Swing Low and my entry. Am I understanding this correctly. TY in advance jj

Partly yes... take note that we use Hard TP.
So if the stop is over 10 it automatically kills the trade regardless.

You don't want to take action on a trade with 14 pips stop and therefore increase your Tp to 28.
We make due on the frame that I have suggested.

I hope it's clear.
  • #258
  • Jan 26, 2015 1:59pm Jan 26, 2015 1:59pm
TY Ty,
Yes it's clear. We want to avoid any entries greater than 10 pips distance from Swing Hi/Lo.

Thanks Again
  • #259
  • Jan 26, 2015 2:42pm Jan 26, 2015 2:42pm
Oh ! TY !!
One last thing with regard to Take Profit (TP).
Do you deduct your broker's spread from the profit...... So we always look to net 20 pips.

Thanks again jj
  • #260
  • Jan 26, 2015 2:58pm Jan 26, 2015 2:58pm
Quoting JayJay
Oh ! TY !! One last thing with regard to Take Profit (TP). Do you deduct your broker's spread from the profit...... So we always look to net 20 pips. Thanks again jj
Yes commission and spread.. net 20 TP.
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