45 Combo - momentum system

had the same trade! I would say because of the hard resistance there. already touched 2 hours ago and yesterday!

+11 with EU.

the same reason as before, move stopped at +18 pips and then lost momentum.

also i wanted to protect my +20 target for the day.

You were in red numbars. Now you are in blacks. You did't want to risk a positive trade and a positive day.

hoffi, not at all... if that was the case I would have been out at 9 pips mark.

Thanks for reply.

Price many times stalls around big round numbers such as 1.1300. At least that is why I would have exited once it stalled after just going through it.

Just had another thought. If I was negative on the day and the price stalled I would bank what pips I had. I was down -6 and missed the EU entry. If I had not missed the entry it would of been my last trade for the day. Once price stalled if I let it go to the SL I'd be down about -12. By banking the pips after the price stalled I would have at least 10 in the bank and be done for the day.

i could not find a reason at this stage, where you closed the position. i am curious;-)

i guess its due to money management so late in the day?

FEAR

Got off the GU for +7, taking too long and when it printed the HL, I thought its over for this one (Fear....)
Was late onto EU by pending order as I could see it setting up but was going to leave the computer for a bit

EU made it +20

FX-tycoon: Apart from some previous resistance and a nearby pivot and RN no idea,
mine went to TP.

Today trades. (Demo account)
UJ -6
GU -6
EJ+20
EU+9 (close manually)
TOTAL=+17 pips.

Close enough.. nice.
Thx for reply.

To all...

It's about daily management.

Prior to this trade I was 0 for 3 and down -17 with two and half hour into my session, so the first priority is what!! you guessed it "Survivability", getting back to break even if the opportunity is there for me fortunately.

are you guys with me!!!!...

The road to consistency comes mostly from the way you mange your day if your a day-trader... it is hardly about X's and O's... you got absolutely no control over that... but you got control over your risk, your risk management.
Tomorrow is another day and market still here for years to come. Be happy that you survive a shitty chop rangish day... actually your walking away as a winner believe it or not... that is why I sleep like a baby at nights even when PA is rough and tough.

I hope it serves you well, getting ready to close out.


Cheers

Right on birdman

will work on it !!!

regarding your EU close, maybe because of EUR/Italian news?

Otherwise, no idea...

Got rid of that moons ago ... humbly.

None of those matter... they all are meant to be broken. They stand concert as much as they get pumpkin crush, lol.

Stick to you Plan as you main element.

You bet, thanks!

Another loss on GU, 4pips down till now...

☺

Fx-Tycoon,

When do you remove your pending orders? Do you remove them after the trade moves against the signal price by more than the stop loss (recent high/low)? Or do you wait to see if it triggers later? In this example, after this signal on GU (marked with a yellow line) the price did not move down 0.7 pips in the next candle, then it moved up above the recent high so it would have stopped out if a market order had been placed at the signal. Then later the price does move down more than 0.7 so that would have triggered if the pending order was not removed, and then this also would have been stopped out.

I have not been using the pending orders and I admit I have been burned a few times including this trade. In my case removing the pending order after the first negative move would have saved me some losses, although I'm sure there are cases where it would prevent a winning trade if you removed the pending order the first time.

Since you have been trading this a long time and I have only been for about a week, I'm sure you would have a better perspective on this, so I look forward to your answer, just as I have all of your posts. You made a couple great calls yesterday (stopping after 1 loss on FOMC day, then saying it would be a good day for liquidity after the FOMC announcement, which it was, lots of winners at that point).