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45 Combo - momentum system

  • #321
  • Jan 27, 2015 11:33am Jan 27, 2015 11:33am
Quoting chrispaul286
I took this one. What do you think guys? {image}

Valid, nice job.
  • #322
  • Jan 27, 2015 11:34am Jan 27, 2015 11:34am
Quoting birdland
NY trade: another +20 for EU long {image}

Bird man… prefect low risk trade, right on.

Cheers
  • #323
  • Jan 27, 2015 11:37am Jan 27, 2015 11:37am
Quoting rehanovich
{quote} ok i read the whole thread and now i believe i understand how the mac filter some trades just one more questions, what is the spread on the 4 currencies u trade with ur broker , and when u say ur target + 20 /day , 20+ spread? thanks
Great to hear you read the thread.

I have also answered this before... but it's ok here it is again..
You should net +20... that means after spread and commission costs.
  • #324
  • Jan 27, 2015 11:38am Jan 27, 2015 11:38am
Quoting eurix
{quote} I did {image}
  • #325
  • Jan 27, 2015 11:39am Jan 27, 2015 11:39am
Quoting fx-Tycoon
{quote} Aamirgpi, If you cannot trade the whole session then just let go of the day as whole if you’re only trading short session like me. If you're trading all day then wait until the start of the new session. You’re better off this way as I can assure that you will end up with most of losing trades and none or some of the wining ones, lol. Stating based on sour experience. Cheers

yeah got it fx-Tycoon gonna trade only session opening hours properly.... why dont you trade NY open?
  • #326
  • Jan 27, 2015 11:40am Jan 27, 2015 11:40am
Quoting aamirgpi
{quote} yeah got it fx-Tycoon gonna trade only session opening hours properly.... why dont you trade NY open?

ups... seems like somebody did not read the first post, lol
  • #327
  • Jan 27, 2015 11:46am Jan 27, 2015 11:46am
Quoting fx-Tycoon
{quote} ups... seems like somebody did not read the first post, lol
lolzzzzzzzzzz i read it man... was wondering maybe there is anyother reason for not trading another session open
  • #328
  • Jan 27, 2015 11:47am Jan 27, 2015 11:47am
Quoting fx-Tycoon
{quote} pullup, Ok my friend… there are many different ways to trade the PA from various areas and moves it makes… it can produces massive wins at time as well as losses, but it’s all irrelevant to me… the point is, what would you want to build upon to create consistency for yourself for years to come. - Would you build your castle based on just what and any move you see on the chart!!.. - Or… build on, having many different patterns to go off from!!... - Or… build on, relying on one or couple of patterns by setting some structures around it to...
Fx-Tycoon

Thanks for your comprehensive reply, I appreciate the time it takes to deal with these questions.
I'm just trying to get a feel for where the boundaries are with your system, but it looks like you covered that in post#1 .
It can be difficult not to look at the charts retrospectively and try to fit the pieces together after the event, i guess thats were your system/discipline comes in.
Thanks again.
pullup
  • #329
  • Jan 27, 2015 12:04pm Jan 27, 2015 12:04pm
Quoting aamirgpi
{quote} lolzzzzzzzzzz i read it man... was wondering maybe there is anyother reason for not trading another session open
lol... ok I give you one more reason...

Can't stand the market more than 3hrs, lol
  • #330
  • Jan 27, 2015 12:06pm Jan 27, 2015 12:06pm
Quoting pullup
{quote} Fx-Tycoon Thanks for your comprehensive reply, I appreciate the time it takes to deal with these questions. I'm just trying to get a feel for where the boundaries are with your system, but it looks like you covered that in post#1 . It can be difficult not to look at the charts retrospectively and try to fit the pieces together after the event, i guess thats were your system/discipline comes in. Thanks again. pullup
YW.

Yep key word "Discipline"... can't over look that one when it come to trading.
  • #331
  • Jan 27, 2015 12:09pm Jan 27, 2015 12:09pm
Quoting fx-Tycoon
{quote} lol... ok I give you one more reason... Can't stand the market more than 3hrs, lol
makes more sense now
  • #332
  • Jan 27, 2015 12:09pm Jan 27, 2015 12:09pm
Quoting schoe
Hi Fx. Thanks for posting this system I've just read the whole thread but I'm still in the process of fully understanding the rules before I start to demo some trades. (i'm a slow learner lol) A couple of questions for Fx-Tycoon. You have been trading this system for 8 years which is amazing well done for staying with it. In that period what is your biggest drawdown, do you have losing weeks or months or do you always finish up the week with positive pips. ? Is trading your full time profession? One more question. Do you take 1 trade per hour for...
schoe,

I had to take some time before replying to your post for more thought out one.

My DD, losing/wining strings or daily ups/downs or any stats for that matter would have no impact on how and what you will end up. The reasons are vast due to human complexity. Humans are complicated creatures and different from one to another in their own unique ways… from different personalities to risk tolerance, toughness, all sorts of agendas and you name it… all these matters come to play when one sits in front of his/her system as the sole lone captain of the ship.

My trading only takes a few hours of my night time. This period is easily wasted by most people in front of TV watching late night shows where I have managed to make it productive. I own a Management company that I attend to during the day, which is a whole different career of its own where I keep it separate and far from what I do at night. I have designed it as such for the sake of balance, career wise as well as life style.

About retirement… I cannot say if this is for you or not… what can be done is to try it out religiously for some time. You know what they say, the only way to find out, is to find out, lol.

Now, nothing for nothing to answer your question and for the sake of confidence, I can say I have not had a major losing streak for a long time now, nor much DD or hardly any losing days… BUT, I know all that can change on a dime if I am not up to my game when each night get myself behind my desk. Early days of my momentum trading, sure, inconsistency, dd, losing day’s weeks, mistakes and else were all experienced and became part of the development process, some people bear through this period and some simply don’t or can’t. It’s a very humbling thing this market trading thingy… and a game of inches for constant perseverance, one cannot let up for even a moment. It sure takes time to develop into a consistent trader but even more so to stay as a consistent trader. A lot of outside factors play as much a role as technical side does. I do a lot of preparation each day and week to keep myself prepared physically and mentally for that intense 3 hour session.

So I say this to you and to all other members who are taking up this system seriously… The basic necessary philosophy & technical structures are all laid out for you to study and review, as well as some daily live action examples for further benefits. So, I highly advise to still put the necessary effort of your own to find out the goods for yourself!! because only you know you and your agendas, life style etc,.


Cheers
  • #333
  • Jan 27, 2015 1:47pm Jan 27, 2015 1:47pm
Quoting fx-Tycoon
{quote} Early days of my momentum trading, sure, inconsistency, dd, losing day’s weeks, mistakes and else were all experienced and became part of the development process, some people bear through this period and some simply don’t or can’t. It’s a very humbling thing this market trading thingy… and a game of inches for constant perseverance, one cannot let up for even a moment. It sure takes time to develop into a consistent trader but even more so to stay as a consistent trader. A lot of outside factors play as much a role as technical side does....
Some very good comments in this post.
fx-Tycoon, this is a very nice thread! Simplicity, focused trading rules, and professional approach in your trading. Keep it up
  • #334
  • Edited 3:45pm Jan 27, 2015 2:30pm | Edited 3:45pm
Thanks Fx for your honest and very helpful replies.

I've certainly had a good day today just taken my last trade on the Dow Futures for another +20 giving me 80 for the day( Dax, Gbp/Usd/Euro/Usd and Ym) . I'm only on demo and just practicing I've only been taking the trades when the 5 is near to the 45 so the stoploss is tight. Here is my last trade marked by the red lines for 20.

Ps. I've already modified slightly and added an all candle indictor to give me a better view of the overall market (sorry!)
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 215 KB
  • #335
  • Jan 27, 2015 9:23pm Jan 27, 2015 9:23pm
Soooo Goooood
  • #336
  • Jan 28, 2015 12:28am Jan 28, 2015 12:28am

Hello to all... getting prepared for the session.

We got fomc today things could go on hold and result in lifeless PA. I still treat it the same but with extra care, more selective and absolutely going for low risk trades.


Cheers

  • #337
  • Jan 28, 2015 12:29am Jan 28, 2015 12:29am
Quoting kostas1
{quote} Some very good comments in this post. fx-Tycoon, this is a very nice thread! Simplicity, focused trading rules, and professional approach in your trading. Keep it up

Thank you Kostas.


Cheers
  • #338
  • Jan 28, 2015 12:33am Jan 28, 2015 12:33am
Quoting schoe
Thanks Fx for your honest and very helpful replies. I've certainly had a good day today just taken my last trade on the Dow Futures for another +20 giving me 80 for the day( Dax, Gbp/Usd/Euro/Usd and Ym) . I'm only on demo and just practicing I've only been taking the trades when the 5 is near to the 45 so the stoploss is tight. Here is my last trade marked by the red lines for 20. Ps. I've already modified slightly and added an all candle indictor to give me a better view of the overall market (sorry!) {image}

Whatever works and comforts you, thats what matters the most.

Good on you to mostly take the low risk trade setups to build confidence and comfort... nice looking clean charts as well.


Cheers,
  • #339
  • Jan 28, 2015 12:55am Jan 28, 2015 12:55am
I took this gu long trade... I know is before the start of eu... but it is a very ideal setup from momo to very low risk (-4.6) for beautiful RR. Hopefully spikes up off eu open instead down, lol.
The point is I am ready to lose 5 pips at most.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.IM1.png Size: 27 KB
  • #340
  • Jan 28, 2015 1:17am Jan 28, 2015 1:17am
Quoting fx-Tycoon
I took this gu long trade... I know is before the start of eu... but it is a very ideal setup from momo to very low risk (-4.6) for beautiful RR. Hopefully spikes up off eu open instead down, lol. The point is I am ready to lose 5 pips at most. {image}

-5... it just couldn't break the HH...

-5 for the day.
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