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45 Combo - momentum system

  • #681
  • Feb 2, 2015 6:21am Feb 2, 2015 6:21am
Today trades /Demo account)
UJ -2
EU -5 (My mistake. It didnt comply all the rulles)
UJ -4
EJ -7
EJ -6
UJ -3
EU -9
GU -8
GU -7 (My mistake. It didnt comply all the rulles)
GU -7

TOTAL -58 PIPS
Attached Image(s) (click to enlarge)
Click to Enlarge Name: trades 02 feb EJ.jpg Size: 128 KB
Click to Enlarge Name: trades 02 feb EU.jpg Size: 124 KB
Click to Enlarge Name: trades 02 feb GU.jpg Size: 117 KB
Click to Enlarge Name: trades 02 feb UJ.jpg Size: 118 KB
  • #682
  • Feb 2, 2015 6:22am Feb 2, 2015 6:22am
Quoting MasterGuru
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.
I am happy to let the MACD change direction for a short period of time. There are plenty on instances where it flips and then flips straight back. When it flips and keeps going for 5+ mins, that's when I might start looking for an out.
  • #683
  • Edited 7:57am Feb 2, 2015 6:37am | Edited 7:57am
Quoting MasterGuru
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.
Yes, that's an option, but what I do is that I have an EA that lock 10pips, and and trail to TP(20pips).

I noticed that most of fx-Tycoon trades that went to SL, normally do more than +10pips before going back to hit SL.

see below 10pips was locked.
Attached Image (click to enlarge)
Click to Enlarge Name: 2.png Size: 62 KB
Time always comes before price
  • #684
  • Feb 2, 2015 6:47am Feb 2, 2015 6:47am
Quoting fxrabbi
{quote} Yes, that's an option, but what I do is that I have an EA that lock 10pips, and and trail to TP(20pips). I noticed that most of ty-tycoon trades that went to SL, normally do more than +10pips before going back to hit SL. see below 10pips was locked.{image}
Aren't you sort of jumping to conclusions after just a handfull of trades? I mean, it would take at least 200 trades to say/change/conclude anything about a new system or would it?
  • #685
  • Feb 2, 2015 6:54am Feb 2, 2015 6:54am
Quoting Alkatraz
{quote} 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...
I totally agreed with you.
Time always comes before price
  • #686
  • Edited 7:56am Feb 2, 2015 6:59am | Edited 7:56am
Quoting Go5
{quote} Aren't you sort of jumping to conclusions after just a handfull of trades? I mean, it would take at least 200 trades to say/change/conclude anything about a new system or would it?

This has nothing to do about changing fx-Tycoon system. But, this is about trade management, we all know is important as the system itself.
Time always comes before price
  • #687
  • Feb 2, 2015 7:02am Feb 2, 2015 7:02am
Quoting Alkatraz
{quote} 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...
Agree. I have my own adaptation so I don't post my trades here so as not to confuse FxTycoon method. Overall I must thank FxTycoon for sharing his method with us.
  • #688
  • Edited 7:56am Feb 2, 2015 7:13am | Edited 7:56am
Quoting skyway
{quote} Agree. I have my own adaptation so I don't post my trades here so as not to confuse FxTycoon method. Overall I must thank FxTycoon for sharing his method with us.

Same with me, I hardly post my trades, because of my own modification to the system(just the trade management aspect), but all kudos goes to fx-Tycoon for sharing a great system.
Time always comes before price
  • #689
  • Feb 2, 2015 7:39am Feb 2, 2015 7:39am
I wonder if it were against Fx-Tycoon if we were discussing alternative "trade management" and "early exit strategies" here...
  • #690
  • Feb 2, 2015 7:46am Feb 2, 2015 7:46am
Quoting MasterGuru
I wonder if it were against Fx-Tycoon if we were discussing alternative "trade management" and "early exit strategies" here...
We can put it to bed for now and fx-Tycoon can provide his thoughts whenever he reads back through it all. I agree that we shouldn't derail his thread in anyway if possible.
  • #691
  • Feb 2, 2015 8:08am Feb 2, 2015 8:08am
Glad I went for a run, choppy, choppy. good on you for posting all your trades antoniomago very honest of you. Don't worry I had a similar disaster one day last week you soon learn when to stay out of the way when the market is like this.
  • #692
  • Feb 2, 2015 8:26am Feb 2, 2015 8:26am
While waiting for fx-Tycoon's input, I would like to spend my 2c on the latest posts. This system relies heavily on a certain MM. One winner covers on average about 3 losers (that tells a lot already) and also let's not forget his very first statement:
1) I believe in my system and stick with it through thick and thin.
Be assured that we WILL get through thick and thin as with any other system... Everybody is free to speak and trade the way they want (that's what a forum is for) but be careful with what you say, especially for the newcomers who may have not digested the rules and the MM yet. I hope that nobody will get any live losses/wins until they master it.
Just wanted to inject some food for thought
  • #693
  • Feb 2, 2015 8:27am Feb 2, 2015 8:27am
I agree with all the remarks about money management. Like Alkatraz/fxrabbi/skyway, I add my own spin to this great system, and I too don't post my trades. Example, I'm on GMT + 5 (EST) So I'm thinking that Ty trades the firs 3 hours of Frankfurt open (not London open). I set my alarm for the Frankfurt open....made twenty pips based on Ty's great system and went back to bed. Made my 20 for the day.
So here I am at work reading your comments.
I want to stay away from "pizza delivery" as a career so I try to filter out personal/bias comments and only address useful and helpful posts.

My 2 pips
  • #694
  • Feb 2, 2015 8:50am Feb 2, 2015 8:50am
Red news in 10 minutes USD ISM Manufacturing
  • #695
  • Feb 2, 2015 8:57am Feb 2, 2015 8:57am
GU to TP, back to BE for today...
Attached Image (click to enlarge)
Click to Enlarge Name: 2-2-15-GBPUSDM1.png Size: 54 KB
  • #696
  • Feb 2, 2015 8:58am Feb 2, 2015 8:58am
EDIT: GO5 answered my question whilst I was asking it....
  • #697
  • Feb 2, 2015 9:02am Feb 2, 2015 9:02am
Closed EU for 13.5 pips, red news coming.
....S....t and off it took.
Attached Image (click to enlarge)
Click to Enlarge Name: 2-2-15-2-EURUSDM1.png Size: 52 KB
  • #698
  • Feb 2, 2015 9:07am Feb 2, 2015 9:07am
How about moving your stop to BE?...
Attached Image (click to enlarge)
Click to Enlarge Name: 2-2-15-AFTER-USDJPYM1.png Size: 55 KB
  • #699
  • Feb 2, 2015 9:13am Feb 2, 2015 9:13am
Quoting Go5
How about moving your stop to BE?...{image}
Lol! Hindsight is always best.
I actually would have just been stopped out on that one anyway and probably wouldn't leave the trade open for 5+ hours on the off chance that the USD news helps me out lol!
  • #700
  • Feb 2, 2015 10:57am Feb 2, 2015 10:57am
Quoting Go5
Closed EU for 13.5 pips, red news coming. ....S....t and off it took.{image}
Go5,
Thank You for sharing your trades and charts. How did it go today?

Bluej
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