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45 Combo - momentum system

  • #461
  • Jan 29, 2015 9:52am Jan 29, 2015 9:52am
jdad...,

I would remove the pending order as soon as the 5ema crossed the 40ema and the MACD changed color from red to green.

my 2 cents
  • #462
  • Jan 29, 2015 10:14am Jan 29, 2015 10:14am
GU +20

Given that I missed the entry candle, would it be acceptable for you to enter at point A?
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  • #463
  • Jan 29, 2015 11:26am Jan 29, 2015 11:26am
Morning... I get to your questions in a minute.

I was lucky to catch a very low risk one on eu when I turned on my system to check the thread, grateful. The only reason I took it was for the only -5 risk on it for a full momentum move to make up for my breakeven day to a target reach day.
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  • #464
  • Jan 29, 2015 11:29am Jan 29, 2015 11:29am
Quoting jwpdad
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...


jwpdad,

The pending order is removed when none-trigger signal becomes an invalid signal.

Now you tell me what is an invalid signal?
  • #465
  • Jan 29, 2015 11:32am Jan 29, 2015 11:32am
Quoting JayJay
jdad..., I would remove the pending order as soon as the 5ema crossed the 40ema and the MACD changed color from red to green. my 2 cents


JJ
Good... even one of the two will suffice.


Cheers,
  • #466
  • Jan 29, 2015 11:34am Jan 29, 2015 11:34am
OK thanks, that makes sense. Obviously the MA's crossed and the MACD changed colors. That will probably happen every time the price moves against the initial signal by that much, so that is a built in protection against some false moves.
  • #467
  • Jan 29, 2015 11:35am Jan 29, 2015 11:35am
Quoting pullup
GU +20 Given that I missed the entry candle, would it be acceptable for you to enter at point A? {image}
Pullup,

This is something that I don’t want to present or get into yet at this stage of the thread.
However I was cut doing this play couple of days ago by your buddy Birdland, which he questioned me about it and I gave a brief explanation about it. Please refer to that post… I will not talk about it much more for now.

Thanks for understanding.


Cheers
  • #468
  • Jan 29, 2015 11:36am Jan 29, 2015 11:36am
Quoting jwpdad
OK thanks, that makes sense. Obviously the MA's crossed and the MACD changed colors. That will probably happen every time the price moves against the initial signal by that much, so that is a built in protection against some false moves.

So why did you keep your order to be triggered and lose?
  • #469
  • Jan 29, 2015 11:38am Jan 29, 2015 11:38am
Quoting Go5
Another loss on GU, 4pips down till now...{image}
Did you take a lot of losses on GU?

The reason I ask is because I see 2 or maybe 3 signal so far all day which one is a target winner.
  • #470
  • Jan 29, 2015 11:44am Jan 29, 2015 11:44am
One more loser followed by a TP; up 2 pips for today - quite choppy alltogether...
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  • #471
  • Jan 29, 2015 11:51am Jan 29, 2015 11:51am
Quoting fx-Tycoon
{quote} Did you take a lot of losses on GU? The reason I ask is because I see 2 or maybe 3 signal so far all day which one is a target winner.
I took 4 losses in total on GU:

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edit: the third entry was 1/2 pip short of touching the ema, my bad...
  • #472
  • Jan 29, 2015 11:53am Jan 29, 2015 11:53am
Quoting Go5
{quote} I took 4 losses in total on GU: {image}
You think all those trades are valid?
  • #473
  • Jan 29, 2015 12:15pm Jan 29, 2015 12:15pm
Quoting fx-Tycoon
{quote} You think all those trades are valid?
Well, the faults I could find are: 1st trade - entry triggerd only 2 points from close but would have triggerd otherwise and correctly 2 candles later.
The 3rd trade was faulty: 5 points short of touching ema and was opened 4 candles late, altough on the "correct" price.
Can't find any shortcomings on the others - I am all ears!!
  • #474
  • Jan 29, 2015 1:01pm Jan 29, 2015 1:01pm
Hi all, good to read about your trading today while I've been away at work (

Well done Fx for getting to your target for the day that last trade looks perfect.
  • #475
  • Jan 29, 2015 1:09pm Jan 29, 2015 1:09pm
Quoting Go5
{quote} Well, the faults I could find are: 1st trade - entry triggerd only 2 points from close but would have triggerd otherwise and correctly 2 candles later. The 3rd trade was faulty: 5 points short of touching ema and was opened 4 candles late, altough on the "correct" price. Can't find any shortcomings on the others - I am all ears!!
Sorry for late reply had to drive to office.

Your 1st and 3rd trade are none valid.
3rd trade as you mentioned yourself, far from a touch.
1st trade... well, I like you to dig it out yourself... I have talked about it in detail in one of my important posts.
It's the most effective way to learn but more importantly to stick with.


Overall from my review of your trades whats evident is anxiousness to get a trade off before full confirmation, which is very dangerous in 1m. there are two areas that absolute patience is required... one, to be patience for full signal to develop... two, patience for target reach.


Cheers,
  • #476
  • Jan 29, 2015 1:11pm Jan 29, 2015 1:11pm
Quoting schoe
Hi all, good to read about your trading today while I've been away at work ( Well done Fx for getting to your target for the day that last trade looks perfect.
Thanks, very lucky... I happened to walk into it.


Cheers
  • #477
  • Jan 29, 2015 2:53pm Jan 29, 2015 2:53pm
Quoting fx-Tycoon
{quote} Pullup, This is something that I don’t want to present or get into yet at this stage of the thread. However I was cut doing this play couple of days ago by your buddy Birdland, which he questioned me about it and I gave a brief explanation about it. Please refer to that post… I will not talk about it much more for now. Thanks for understanding. Cheers
Thanks for your reply, its probably that post that triggered my question. " You gotta know the rules before you can bend the rules" situation.
Your system is starting to sink in, great RR and means of defining trade risk, I'm even starting to visualise the setups as they approach, so far so good.
Still can't stop watching M15, pivots, big MAs, BRNs, S&R, Asia range etc I might get over it some day.
cheers
pullup
  • #478
  • Jan 29, 2015 3:10pm Jan 29, 2015 3:10pm
Hi Ty

I prefer images because of my bad English
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  • #479
  • Jan 29, 2015 3:19pm Jan 29, 2015 3:19pm
Quoting eurix
Hi Ty I prefer images because of my bad English {image}
That's not a chop, it's part of the PB... chop is when 5ema crosses 40ema back and forth.
cpi was not all day... it was hour or so into eu session. Anyhow if there is a red news with unknown time, then I just ignore it and trade away.

Don't worry about your English, your fine bud... do your best and I/we will understand... thanks for the chart effort though.


Cheers
  • #480
  • Jan 29, 2015 3:22pm Jan 29, 2015 3:22pm
Quoting pullup
{quote} Thanks for your reply, its probably that post that triggered my question. " You gotta know the rules before you can bend the rules" situation. Your system is starting to sink in, great RR and means of defining trade risk, I'm even starting to visualise the setups as they approach, so far so good. Still can't stop watching M15, pivots, big MAs, BRNs, S&R, Asia range etc I might get over it some day. cheers pullup



Cheers
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