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45 Combo - momentum system

  • #401
  • Jan 28, 2015 4:30pm Jan 28, 2015 4:30pm
Quoting schoe
{quote} I don't want to get into an argument but if you are no better than others as you say then please don't act like you are, i'm here to learn which means making mistakes, we don't need lectures but constructive advice will be appreciated. I agree with you about one thing, I have overtraded today but then its a good way to get to learn the system i'm on demo so losing is part of the learning process. Cheers. Schoe.
Sorry if if you think I was referring to you personally. Not my intention. I just quoted fx-tycoon reply to you because I wanted to point out his repeated and clear message about simplicity. When a new thread is open, people for some reason quickly tend to look for new ways to improve it (I'm guilty too) instead of trying to understand all the nuances already dished on the table. Also, I had no intention to accuse you not to have read the thread as that's what looks like you're feeling. I've seen you posting since the very few pages and don't think you need any lecture at all, and least of all, from me. We're all here to learn and I've made my good quota of mistakes too, trust me. So, peace, my friend.
  • #402
  • Edited 5:05pm Jan 28, 2015 4:50pm | Edited 5:05pm
Quoting schoe
{quote} Ok thanks Fx, I have my screen set up the same as yours so i'm only watching 4 instruments. My concern was that forex pairs all seem to be correlated so I thought if I watch the futures it may give some diversity. But I will stop watching them and stick to the rules. I will go back and check the first post, I remember you saying you only trade for the first 3 hours as you don't like watching the market longer than that and I do remember you saying you can trade all day if you want. I have learnt quite a lot today by making losing trades....
Hi schoe
Well done on your winner tonight , I watched from the sidelines as I had visitors but I will mark my diary for next fomc meeting and not trade the day maybe but only the evening. Also can I ask where I could get your candles indicator at the bottom please ?
Russ
  • #403
  • Jan 29, 2015 12:28am Jan 29, 2015 12:28am
Hello to all... getting prepared for the session.
We got only one red news (G cpi) to worry about which is about and hour from now, so I mark all four charts.


Good skill and discipline to all.


Cheers
  • #404
  • Jan 29, 2015 12:36am Jan 29, 2015 12:36am
No problem Hammer, thanks for the reply. I won't be here much for the next few days as i'm back to the day job so relying on others to post trades so I can carry on learning (make sure you post good and bad)

Russ Its called recent candle indicator there is a thread on it here on forex factory I will try and upload it here. I think the one I have has a slightly different name to the one I uploaded but I got it from the same thread this one appears to be the most up to date.

Regards

Schoe.

Ps. Good luck with todays session FX. I look forward to seeing how you got on later. One more question looking at the charts just now, if this had been in your trading window would you have taken this trade, the 5 has just slipped under the 40? (marked with the white arrow)
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Attached File(s)
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  • #405
  • Edited 1:54am Jan 29, 2015 12:45am | Edited 1:54am
Quoting schoe
No problem Hammer, thanks for the reply. I won't be here much for the next few days as i'm back to the day job so relying on others to post trades so I can carry on learning (make sure you post good and bad) Russ Its called recent candle indicator there is a thread on it here on forex factory I will try and upload it here. I think the one I have has a slightly different name to the one I uploaded but I got it from the same thread this one appears to be the most up to date. Regards Schoe. Ps. Good luck with todays session FX. I look forward to seeing...

Thanks shoe... don't work too hard.


Cheers

ps) No... definitely not when ema crosses... sometime if only Mac slightly crosses without eam cross, then I may consider taking a trade and even that based on some rules and structures that I may in later stages of the thread get into, if everyone gets a long and thread if full of love, energy and positivity.
  • #406
  • Jan 29, 2015 1:07am Jan 29, 2015 1:07am
-4.5 on the eu long..
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  • #407
  • Jan 29, 2015 1:14am Jan 29, 2015 1:14am
Quoting fx-Tycoon
-4.5 on the eu long.. {image}
Hi. Just out of curiosity, I took the same trade, my stop was 1 pip below the low and price went only 0.6 below the bar low. How far do you position your stop? Or maybe you were slipped for some reason? Or maybe your broker just touched your price? Thanks
  • #408
  • Edited 1:55am Jan 29, 2015 1:14am | Edited 1:55am
Quoting fx-Tycoon
-4.5 on the eu long.. {image}

Let me drop you guys some mental aspects...

You see how on this eu trade I got stung... it barely hit my stop and shot up right away, and it may very well go although way to the target mark.
Now... the worst thing you can do to yourself is to sit and feel pity about it... it kills you mentally.
just walk away from it with all your beings... trust me it will do you wonders in the long run.
  • #409
  • Jan 29, 2015 1:16am Jan 29, 2015 1:16am
Quoting fx-Tycoon
{quote} Let me tell drop you guys some mental aspects... You see how on this eu trade I got stung... it barely hit my stop and shot up right away, and it may very well go although way to the target mark. Now... the worst thing you can do to yourself is to sit and feel pity about it... it kills you mentally. just walk away from it with all your beings... trust me it will do you wonders in the long run.
LOL.. gotta love it... took off big time just seconds after I made the post.
  • #410
  • Jan 29, 2015 1:19am Jan 29, 2015 1:19am
Quoting Hammertop
{quote} Hi. Just out of curiosity, I took the same trade, my stop was 1 pip below the low and price went only 0.6 below the bar low. How far do you position your stop? Or maybe you were slipped for some reason? Or maybe your broker just touched your price? Thanks
You must be a happy man now hammer... nice bank I assume.


I have mentioned through out the thread what is my buffer for trigger and stops... np I mention it again.

I use a 0.7 pips from the close for trigger and same amount for TP/SL but from the Low or High point of the candle.


Cheers
  • #411
  • Jan 29, 2015 1:21am Jan 29, 2015 1:21am
long on UJ

actually not perfectly within the rules because price moved just 9 pips after the MA cross...
lets see how this plays out.
7 pips risk is absolutely fine!

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  • #412
  • Jan 29, 2015 1:21am Jan 29, 2015 1:21am
Quoting fx-Tycoon
{quote} Let me tell drop you guys some mental aspects... You see how on this eu trade I got stung... it barely hit my stop and shot up right away, and it may very well go although way to the target mark. Now... the worst thing you can do to yourself is to sit and feel pity about it... it kills you mentally. just walk away from it with all your beings... trust me it will do you wonders in the long run.
Hi Ty

Did you re enter ? 2 nice moves on eu and eujpy .. but gues what , im in UJ and its getting there... very slowly may i add

russ trader
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  • #413
  • Edited 1:49am Jan 29, 2015 1:24am | Edited 1:49am
Quoting russtrader
{quote} Hi Ty Did you re enter ? 2 nice moves on eu and eujpy .. but gues what , im in UJ and its getting there... very slowly may i add russ trader {image}

Please read the "what I do" section... you'll find the answer.


Cheers


ps) Dear russ... if you make a habit of taking up on such signals you will be getting slathered in chop range market and no profitability in the feature.
... just a brotherly advice.
Your entry with Mr.Ma entry is a world of difference apart even though his also not swing qualify... but way better.
  • #414
  • Jan 29, 2015 1:27am Jan 29, 2015 1:27am
Quoting fx-Tycoon
{quote} You must be a happy man now hammer... nice bank I assume. I have mentioned through out the thread what is my buffer for trigger and stops... np I mention it again. I use a 0.7 pips from the close for trigger and same amount for TP/SL but from the Low or High point of the candle. Cheers
My mistake then, I thought the 0.7 pips was only referring to the buffer for entries and didn't include the necessary room for SL and TP. Every day there's something new to learn in this thread.

P.S. Happy yes, nice and quick profit. Thank you again for this little ingenious system
  • #415
  • Jan 29, 2015 1:34am Jan 29, 2015 1:34am
Quoting fx-Tycoon
{quote} Please read the "what I do" section... you'll find the answer. Cheers
Hi Tycoon

Yes , i see now , im out now, scratch trade. I just expected some movement after the 6.59am candle closing above the 5ema. Im already 10 up for the day as i couldnt resist the 6.23am eujpy candle ( yes i will go sit on the naughty step)and i wasnt giving it back.

Thanks again for your advices Tycoon

russtrader
  • #416
  • Jan 29, 2015 1:46am Jan 29, 2015 1:46am
so far 2 trades on EU. -4, +14

the second trade was only 1 pip away from my target, but failed. so i closed the position manually.
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trading is like dancing, don't think and just listen to the music!
  • #417
  • Jan 29, 2015 1:48am Jan 29, 2015 1:48am
Quoting Ace66
{quote} did you use macd as a filter ?
yes and no.

if a pattern is very strong i will rate this more than a slightly negative macd.
trading is like dancing, don't think and just listen to the music!
  • #418
  • Jan 29, 2015 1:51am Jan 29, 2015 1:51am
Quoting Hammertop
{quote} My mistake then, I thought the 0.7 pips was only referring to the buffer for entries and didn't include the necessary room for SL and TP. Every day there's something new to learn in this thread. P.S. Happy yes, nice and quick profit. Thank you again for this little ingenious system

Hammer man... it's just commonsense to give some room bud.


Cheers
  • #419
  • Jan 29, 2015 1:51am Jan 29, 2015 1:51am
UJ SL -7

so far the Frankfurt hour served me only losers until today... have to think about to start looking at the charts with the beginning at london open.

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  • #420
  • Jan 29, 2015 2:04am Jan 29, 2015 2:04am
GJ +11...
Closed it because Iam now off to work.

so +4 for the day and the shop is closed.

many many green pips to everyone!

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