45 Combo - momentum system | Page 34 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

FinoHardTdi Combo "Fibonacci + Harmonic + TDI" system 129 replies

Hit and Run, Semafor Combo system 38 replies

45 Combo momentum system indicator request 2 replies

TD SEQ and Combo Signal Watcher 51 replies

Combo system day trader journal 10 replies

Attachments: 45 Combo - momentum system
Exit Attachments

45 Combo - momentum system

  • #661
  • Feb 2, 2015 3:29am Feb 2, 2015 3:29am
Quoting Ivanyo
{quote} Is that because the area in pink is the most recent swing high/low? Putting SL around there would have been 5 pips. My apologies - my impressions from the original post were that we put 20TP and 10SL and that's it. {image}
Exactly. Sl should be the low of the candle/s that break the 40EMA. Minimizing your SL is the BEST thing that you can do!
  • #662
  • Feb 2, 2015 3:39am Feb 2, 2015 3:39am
Do you all have any tips for ensuring that a pair is in trend before entering a trade?

e.g. this one is a loser, looks like it's ranging a bit.

PS - don't worry these are all demo trades. I'm still learning the system.
Attached Image (click to enlarge)
Click to Enlarge Name: teQMNbj.png Size: 32 KB
  • #663
  • Feb 2, 2015 3:42am Feb 2, 2015 3:42am
Quoting Ivanyo
Do you all have any tips for ensuring that a pair is in trend before entering a trade? e.g. this one is a loser, looks like it's ranging a bit. PS - don't worry these are all demo trades. I'm still learning the system. {image}
This is not a valid entry!

There is no MOMO.
Price has to move at least (better more than) 10 pips after breaking the MA40. This would have saved you from this loser.

Plus, on a short position, always add your spread on top!
  • #664
  • Feb 2, 2015 3:48am Feb 2, 2015 3:48am
Quoting Ivanyo
Do you all have any tips for ensuring that a pair is in trend before entering a trade? e.g. this one is a loser, looks like it's ranging a bit. PS - don't worry these are all demo trades. I'm still learning the system. {image}
Jpy is strengthening. Look for shorts from here.
  • #665
  • Feb 2, 2015 3:49am Feb 2, 2015 3:49am
Quoting Ivanyo
Do you all have any tips for ensuring that a pair is in trend before entering a trade? e.g. this one is a loser, looks like it's ranging a bit. PS - don't worry these are all demo trades. I'm still learning the system. {image}
As Mr MA said you need at least a 10pip move after the 5EMA breaks the 40EMA (personally I prefer 15/20+ unless I can get a VERY small SL).

Price also needs to have swung back a decent amount from its previous high/low. In your trade the price only moved back 7-8 pips from its low when it hit the 40EMA and it did that in 1 or two candles.

A nice trend, with a solid pullback and then indecision candles (or small reversal candles) around the 5EMA and 40EMA seem to give the best entires. (ie. small SL possible and plenty of room to move back to the previous high/low and beyond).

You probably have the same problem that i had when I started playing with this method which is looking for every setup that looks even close to correct. I have found (in my VERY short time here I should add) that waiting for a perfect setup is the best bet!
  • #666
  • Edited 4:20am Feb 2, 2015 4:03am | Edited 4:20am
Short U/J - 5.5pip SL

EDIT: added chart
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY TRADE.png Size: 76 KB
  • #667
  • Feb 2, 2015 4:11am Feb 2, 2015 4:11am
2 losses for the day

-7 EJ
-5 UJ

-12 for the day...maybe will trade at NY open
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURJPYM1.png Size: 27 KB
Click to Enlarge Name: USDJPYM1.png Size: 25 KB
trading is like dancing, don't think and just listen to the music!
  • #668
  • Feb 2, 2015 4:17am Feb 2, 2015 4:17am
Long EU Risk 8
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM1.png Size: 61 KB
  • #669
  • Feb 2, 2015 4:20am Feb 2, 2015 4:20am
Quoting Crete
Long EU Risk 8 {image}
I'm on this one as well - concerned about the recent swing highs which it didn't manage to break but as it's demo I'll give the trade a chance.
  • #670
  • Feb 2, 2015 4:22am Feb 2, 2015 4:22am
Quoting birdland
2 losses for the day -7 EJ -5 UJ -12 for the day...maybe will trade at NY open {image} {image}
If I had to nitpick the negative that I see with the EJ was the sideways momentum.
The UJ setup looked very nice though so can only chalk that one down to bad luck.
  • #671
  • Feb 2, 2015 4:28am Feb 2, 2015 4:28am
Quoting Crete
Long EU Risk 8 {image}
I walked away from the computer for a few mins and missed this one but the setup looks very, very nice. GL!
  • #672
  • Feb 2, 2015 4:58am Feb 2, 2015 4:58am
Another EJ SL.

Attached Image (click to enlarge)
Click to Enlarge Name: EJ SL 0202.jpg Size: 789 KB
  • #673
  • Feb 2, 2015 4:59am Feb 2, 2015 4:59am
I exited +1 on the EU long. It didn't take out the previous high and I am not willing to lose 7 on it. I'm going to come back for the NYOpen. -5 on the day so far.
  • #674
  • Feb 2, 2015 5:14am Feb 2, 2015 5:14am
Stop Loss on EU... Today's summary: 4 SL, 0 TP.

Attached Image (click to enlarge)
Click to Enlarge Name: EU SL 0202.jpg Size: 831 KB
  • #675
  • Feb 2, 2015 5:16am Feb 2, 2015 5:16am
I closed my UJ out for +3 as well. Had three goes downwards but couldn't break so I let it go. +3 is better than -5.5
  • #676
  • Feb 2, 2015 5:27am Feb 2, 2015 5:27am
Quoting Alkatraz
I closed my UJ out for +3 as well. Had three goes downwards but couldn't break so I let it go. +3 is better than -5.5
It seems that you have broken the first two Rules:

1) I believe in my system and stick with it through thick and thin.
2) I make NO interference post trigger… stop or target; it’s a do or dies thing for me in this department… The trick is, it allows me to be patience.
  • #677
  • Feb 2, 2015 5:34am Feb 2, 2015 5:34am
The 5th SL of the day (without any TP) is approaching on UJ.

Lookig at the charts, it seems that closing trades manually when MACD changes direction, might be a sensible option.
  • #678
  • Feb 2, 2015 5:34am Feb 2, 2015 5:34am
Also stopped out of EU (-8.3) and UJ (BE). UJ didn't move after an hour and the trade looked as a gamble so moved SL to the new fractal: let's see hoe TY would handle this..
  • #679
  • Feb 2, 2015 5:40am Feb 2, 2015 5:40am
Quoting fx-Tycoon
Through out the thread I see one measurement is very much overlooked by most... and that is the Distance factor!!.. Who can tell me what that is?
Hi Ty. I f I don't go wrong, the only attempt to reply to your question was by Ace66 as follows
Quoting Ace66
{quote} the momentum move after the cross 10+ before the trigger...?
Then you never mentioned it again. As I think this is an important factor for a good MM I would like to resume the post, and in addition to Ace's reply, which I think is right, I would complete and rephrase it as the distance between the entry point and the height of the momentum move. Any comment? Thanks
  • #680
  • Feb 2, 2015 6:18am Feb 2, 2015 6:18am
Quoting MasterGuru
{quote} It seems that you have broken the first two Rules: 1) I believe in my system and stick with it through thick and thin. 2) I make NO interference post trigger… stop or target; it’s a do or dies thing for me in this department… The trick is, it allows me to be patience.
Whilst I respect that fx-Tycoon has set rules for his system that he believes work and that he is happy with, I will always reserve the right to do as I see fit based on the information that I have in front of me. Setting an arbitrary 20pip target is all well and good however I will disagree with anyone who says that you must live and die by this 20pip target.

On that particular trade, every single indicator that I had relied upon to enter had flipped around and was now providing the completely opposite information. That was enough of a signal for me to quit while I was ahead and take a small profit. I no longer had any reason to believe that my 20pip target would be hit and the information provided by my charts indicated that it was more likely to hit my SL. In this instance I was correct and my SL would have eventually been hit. Sometime in the future it may work against me and I miss out on pips. However I will always happily forego a larger potential profit in order to remove the chance of a loss.

As an example of the exact opposite, on Friday evening (I'm in GMT +8) I saw price action moving EXTREMELY quickly towards my 20pip target so I removed the Limit and closed out manually for a 26pip profit instead.

I am perfectly happy for anyone to disagree with my logic as when it comes to trading I believe that no one system will work perfectly for everyone and that everyone must learn to trade in a way that works for them. We are fortunate enough that fx-Tycoon has decided to share the system that works for him with the rest of us however that does not mean that what works for him will work for absolutely everybody. In my opinion, trading is far to highly influenced by human emotion for that to be possible.
0 traders viewing now