Attachments: 45 Combo - momentum system

45 Combo - momentum system

#261
Jan 26, 2015 3:04pm Jan 26, 2015 3:04pm

JayJay
| Joined Apr 2006 | Status: Trader | 107 Posts

Thanks Ty,
I'm anxious to try your system. Unfortunately I'm on EST and I have a full time job so I'll have to stay up late/early to make the Frankfurt open. I truly appreciate the charts, they help a lot.

jj

#262
Jan 26, 2015 3:38pm Jan 26, 2015 3:38pm

malaique
| Joined Dec 2014 | Status: Trader | 15 Posts

Fx-tycon,
Do you consider support/resistance levels or pivots?

#263
Jan 26, 2015 4:22pm Jan 26, 2015 4:22pm

russtrader
| Joined Jan 2015 | Status: Trader | 45 Posts

Quoting JayJay

Disliked

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

Ignored

Hi Jay

It is my understanding that the tp remains at 20pips so you would better a 2:1ratio should it get hit. Max SL=10pips, Tp always 20 but you will be monitoring the trade and sometimes will exit manually if you feel there is a reason to. (anyone feel free to correct me if i am incorrect!). I think this system Rocks... its something i can relate to... so thanks are in order.

russtrader

#264
Jan 26, 2015 5:21pm Jan 26, 2015 5:21pm

abtvah
| Joined Jan 2015 | Status: Trader | 19 Posts

Quote

Disliked

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

#265
Jan 26, 2015 5:44pm Jan 26, 2015 5:44pm

Crete
| Joined Jan 2014 | Status: Trader | 51 Posts

Quoting fx-Tycoon

Disliked

{quote} 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

Ignored

I did wait for the bar to close below the 5 EMA. I had my DOM up and clicked a limit sell order and was filled on the next bar. The fill time was at 11:45:37. The close below the 5 Ema was on the 11:44 bar.

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#266
Jan 26, 2015 8:12pm Jan 26, 2015 8:12pm

malaique
| Joined Dec 2014 | Status: Trader | 15 Posts

Hi,
What is PA?
Is this some form of price candles e.g., Helkin Ashi?

Thanks

#267
Jan 26, 2015 9:56pm Jan 26, 2015 9:56pm

bluejack
| Joined Oct 2012 | Status: Trader | 493 Posts

Quoting malaique

Disliked

Hi, What is PA? Is this some form of price candles e.g., Helkin Ashi? Thanks

Ignored

Price Action... You should go here first if you are new to Forex trading.. . http://www.babypips.com/school

#268
Jan 27, 2015 12:49am Jan 27, 2015 12:49am

fx-Tycoon
Joined Feb 2014 | Status: Trader | 1,133 Posts

Hello to all... preparing for the session.
There is only one GBP red news about two and half hour into the session, so mark your eu and gu chart as I do.

I see quite a few post and I will attend to throughout the session when I am free from trading.

Focus, diligence... success to all.

Cheers

#269
Jan 27, 2015 12:58am Jan 27, 2015 12:58am

fx-Tycoon
Joined Feb 2014 | Status: Trader | 1,133 Posts

Quoting abtvah

Disliked

{quote} 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...

Ignored

Good valid question which I try to answer quickly...
I don't want to complicate the matters... since new money could arrive in the market starting eu session its ok to trade it (must be low risk though)... however some commonsense pointers to keep in the back of the mind would go a long way...
* If the trend is really too matured standing maybe its better to stay out avoiding getting cut in the exhaustion period.
* New fresh swing is the better wiser choice even if it's a resume in the old direction/trend.

I hope serves well.

Cheers

#270
Jan 27, 2015 1:44am Jan 27, 2015 1:44am

fx-Tycoon
Joined Feb 2014 | Status: Trader | 1,133 Posts

ej buy..

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#271
Jan 27, 2015 1:44am Jan 27, 2015 1:44am

Crete
| Joined Jan 2014 | Status: Trader | 51 Posts

Long EJ.

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#272
Edited 2:04am Jan 27, 2015 1:47am | Edited 2:04am

HighFivve
| Joined Jan 2015 | Status: high52 | 462 Posts

GJ short

Edit stopped out

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Learn THEN Unlearn

#273
Jan 27, 2015 1:50am Jan 27, 2015 1:50am

birdland
Joined Aug 2010 | Status: absolute beginner | 5,463 Posts

fx-ty, was this EJ a valid short?

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trading is like dancing, don't think and just listen to the music!

#274
Jan 27, 2015 1:54am Jan 27, 2015 1:54am

fx-Tycoon
Joined Feb 2014 | Status: Trader | 1,133 Posts

Quoting birdland

Disliked

fx-ty, was this EJ a valid short? {image}

Ignored

Technically yes...
But I personally due to maturity of the trend as its second signal in the same trend as my first trade with max stop, did not take it.
also notice how strongly has pulled back with couple of close above and Ma nearly tipped over.

#275
Jan 27, 2015 1:59am Jan 27, 2015 1:59am

russtrader
| Joined Jan 2015 | Status: Trader | 45 Posts

Quoting birdland

Disliked

fx-ty, was this EJ a valid short? {image}

Ignored

Hi Bird land

I considered it but the macd kept me out and then we had that lovely bull candle taking us awa from that little congestion area ..

hope this helps

#276
Jan 27, 2015 2:06am Jan 27, 2015 2:06am

Hammertop
| Joined May 2014 | Status: Trader | 568 Posts

Quoting fx-Tycoon

Disliked

{quote} Technically yes... But I personally due to maturity of the trend as its second signal in the same trend as my first trade with max stop, did not take it. also notice how strongly has pulled back with couple of close above and Ma nearly tipped over.

Ignored

Wasn't it practically a case of "pressing the 5ema over 40ema"? That would mean a no go with no need for further consideration.

#277
Jan 27, 2015 2:09am Jan 27, 2015 2:09am

fx-Tycoon
Joined Feb 2014 | Status: Trader | 1,133 Posts

Minutes ago nearly escaped stop hit on EU on going long trade... The risk is very low on this trade and awesome RR... just need small euro push here..

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