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45 Combo - momentum system

  • #281
  • Jan 27, 2015 12:16am Jan 27, 2015 12:16am
Fx-Tycoon, regarding stop, do you calculate your risk over the amount of the actual stop or is just fixed over 10 pips? In the first case a loss would always be 1% but a win would lead to greater R:R when stop is smaller than 10 pips. In the second case the R:R of course would be fixed at 1:2. Thanks.
  • #282
  • Jan 27, 2015 12:16am Jan 27, 2015 12:16am
Quoting fx-Tycoon
{quote} 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
if there's a red news, are we gonna avoiding those related pair the whole 3 hours??

just like GBP now, we're avoiding GU & GJ for few mins before and after news, or the whole 3 hours??

thanks
"If you run, you'll only die tired." - Sniper's philosophy
  • #283
  • Jan 27, 2015 12:19am Jan 27, 2015 12:19am
Quoting tomiko
{quote} if there's a red news, are we gonna avoiding those related pair the whole 3 hours?? just like GBP now, we're avoiding GU & GJ for few mins before and after news, or the whole 3 hours?? thanks
Just the like what I have mentioned in the 1st post and a few more times throughout the thread.
  • #284
  • Jan 27, 2015 12:20am Jan 27, 2015 12:20am
Quoting fx-Tycoon
Patience paying off big time.. +20 on both +40 for the day.. {image}
the second one (EU) is not really valid entry?!
but i know, sometimes discretion comes into play;-)
trading is like dancing, don't think and just listen to the music!
  • #285
  • Jan 27, 2015 12:20am Jan 27, 2015 12:20am
Quoting fx-Tycoon
Patience paying off big time.. +20 on both +40 for the day.. {image}
eur jpy + 20 pips
  • #286
  • Jan 27, 2015 12:29am Jan 27, 2015 12:29am
Long GU
Attached Image (click to enlarge)
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  • #287
  • Jan 27, 2015 12:32am Jan 27, 2015 12:32am
gu long...
Attached Image (click to enlarge)
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  • #288
  • Jan 27, 2015 12:33am Jan 27, 2015 12:33am
Quoting Hammertop
Fx-Tycoon, regarding stop, do you calculate your risk over the amount of the actual stop or is just fixed over 10 pips? In the first case a loss would always be 1% but a win would lead to greater R:R when stop is smaller than 10 pips. In the second case the R:R of course would be fixed at 1:2. Thanks.
My lot size risk is predetermined and set once a week... and take into account 10pip stop. So, over the weekend I decide to what lot size I should use for the whole week. That is usually 1% of total amount I want to use of the balance... I always leave reserve in my account.
for example... I could have 10k in my account but only take into account 5k of it and calculate the 1% per trade lot size based on 5k.
  • #289
  • Jan 27, 2015 12:36am Jan 27, 2015 12:36am
Quoting birdland
{quote} the second one (EU) is not really valid entry?! but i know, sometimes discretion comes into play;-)
How so?
  • #290
  • Jan 27, 2015 12:44am Jan 27, 2015 12:44am
Quoting fx-Tycoon
gu long... {image}
-9.5 on

+30 for the day..


Daily management talk...
Before this trade I was up +40 with very much a full momentum market at hand... so I took it without hesitation to hopefully put me up to +60 and therefore I could continue on taking more shots in the next hour to make it a killer day. But it did not happen... now whats the call?... the call is to protect +20... I am up 10 above daily goal and hour or two left to end of my session, so low risk high potential trades are the only ones I will look for.

This is the way to consistency, at least in my book, as trading is not fixed or a black and white thing.

Cheers
  • #291
  • Jan 27, 2015 12:45am Jan 27, 2015 12:45am
GU stopped out. I had one earlier trade which made +20. With red news in one hour I traded 1\10 th of normal size to protect as much of the first trades profit so about +18 on the day. Got to get some sleep, I have to go to work in a few hours. Nice thread Ty. Thanks for taking your time to start it. Good trading everyone.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM1.png Size: 60 KB
  • #292
  • Jan 27, 2015 12:53am Jan 27, 2015 12:53am
Quoting Crete
GU stopped out. I had one earlier trade which made +20. With red news in one hour I traded 1\10 th of normal size to protect as much of the first trades profit so about +18 on the day. Got to get some sleep, I have to go to work in a few hours. Nice thread Ty. Thanks for taking your time to start it. Good trading everyone. {image}

Good job and don't work too hard bud.


Cheers
  • #293
  • Jan 27, 2015 1:02am Jan 27, 2015 1:02am
Quoting fx-Tycoon
{quote} How so?
on your image, which is now cleared, i saw your entry at the red arrow.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM1 pf.png Size: 94 KB
trading is like dancing, don't think and just listen to the music!
  • #294
  • Jan 27, 2015 1:03am Jan 27, 2015 1:03am
Word of caution..
Start considering to stay off GU and EU due to red news in 20 some minutes.
You just made some money, up for the day, so no reason to give some of it back over a spike.


Cheers
  • #295
  • Edited 1:31am Jan 27, 2015 1:19am | Edited 1:31am
Quoting birdland
{quote} on your image, which is now cleared, i saw your entry at the red arrow. {image}

Good eye birdland, you don't miss much, lol
I removed it bcz I did not want confusion and me going into deep explanation especially in early stages of this thread... thats a little advance play for now.

ok... but still it does not make the signal invalid as you stated, right!!

Now to all...
This is what happen with the trade that Birdland is pointing out... I missed the entry at the correct time... so what I usually do when that happens I quickly place a limit order at the correct price I was supposed to be triggered just in case if price comes back to it before taking off... but when price takes off for some I remove my limit.. but in this case the risk was so nicely low (under 5) so I kept the limit order, otherwise it would have accounted for a missed opportunity and a done deal.

So, if anyone decides to do so in such situations, I advise to make due with same fashion. Most times your better off to just let it go... this kinds of things comes with experience and confidence.. so avoid it in the begging.

For now just ignore this kind of moves and stick to the core... once with many trades under your belt and growing confidence we can start talking about other tricks... this slipped out, lol, my bad. Believe it or not you don't even need it to be successful, on that very play I nearly got stopped out right after trigger.
Ok enough with this.

Cheers
  • #296
  • Jan 27, 2015 1:39am Jan 27, 2015 1:39am
Fx-Tycoon, can the emas touch and still give a valid entry, assuming everything else is in place? It's just the crossover we need to avoid, right?
  • #297
  • Jan 27, 2015 1:42am Jan 27, 2015 1:42am
Quoting fx-Tycoon
{quote} Good eye birdland, you don't miss much, lol I removed it bcz I did not want confusion and me going into deep explanation especially in early stages of this thread... thats a little advance play for now. ok... but still it does not make the signal invalid as you stated, right!! Now to all... This is what happen with the trade that Birdland is pointing out... I missed the entry at the correct time... so what I usually do when that happens I quickly place a limit order at the correct price I was supposed to be triggered just in case if price...
ok thx for clarification!
i just want to learn a new approach AND understanding is a key element.
thought that you missed this trade and placed the limit later...sometimes i do it also.
trading is like dancing, don't think and just listen to the music!
  • #298
  • Jan 27, 2015 1:46am Jan 27, 2015 1:46am
ok i got ur system but i rly want to understand tthe role of the macd i feel it is left out
can u please explain it a little bit for me?
  • #299
  • Jan 27, 2015 1:59am Jan 27, 2015 1:59am
Quoting rehanovich
ok i got ur system but i rly want to understand tthe role of the macd i feel it is left out can u please explain it a little bit for me?
I can do that... but please tell me if you have read the thread already or not?
  • #300
  • Jan 27, 2015 2:17am Jan 27, 2015 2:17am
Quoting Hammertop
Fx-Tycoon, can the emas touch and still give a valid entry, assuming everything else is in place? It's just the crossover we need to avoid, right?
I don't fully understand your question. Maybe I am tired.
Please revise.
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