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45 Combo - momentum system

  • #701
  • Feb 2, 2015 11:26am Feb 2, 2015 11:26am
Quoting bluejack
{quote} Go5, Thank You for sharing your trades and charts. How did it go today? Bluej
Well, 3 loosers, 1BE and 2 winners, up 13.5 pips and saw no reason for any more trades.
  • #702
  • Feb 2, 2015 11:32am Feb 2, 2015 11:32am
Morning... I see some reading I got to do, lol.

I took the day off since I was beat after game and party.


I see what you guys were up to today.


Cheers,
  • #703
  • Feb 2, 2015 11:38am Feb 2, 2015 11:38am
Quoting Ivanyo
-10 on usdjpy I saw that price had a nice swing high before coming back to touch the 40 EMA. Opened trade as soon as the candle closed above 5EMA with a 20TP and 10SL as per the thread's first post. Guess I can't win them all? Does anyone else see anything wrong with my trade? Cheers {image}
Read the thread please or at least the 1st post. Your charts and questions indicates so.

Thanks in advance.
  • #704
  • Feb 2, 2015 11:48am Feb 2, 2015 11:48am
Quoting MasterGuru
I wonder if it were against Fx-Tycoon if we were discussing alternative "trade management" and "early exit strategies" here...
That would be a totally different method which you are more than welcome to present in thread of your own.

Thx.
  • #705
  • Feb 2, 2015 11:50am Feb 2, 2015 11:50am
Quoting JayJay
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...
Well done, thats what is all about... now try to do that consistently.


Cheers,
  • #706
  • Edited 12:19pm Feb 2, 2015 11:55am | Edited 12:19pm
Ok I just glanced over all your posts for today. I see some frustrations or concerns and some opinions. I will make one post to generalize all in one which will attend to all.

Before I do that I like you to know... You can not approach trading in a too systematic way, it won't work. It is too vast of a giant to put a cap on an be a consistent winner.


Stay tune.
  • #707
  • Feb 2, 2015 12:06pm Feb 2, 2015 12:06pm
Quoting Go5
{quote} Well, 3 loosers, 1BE and 2 winners, up 13.5 pips and saw no reason for any more trades.
with a good R:R, it's green at end of the day..
  • #708
  • Edited 12:32pm Feb 2, 2015 12:18pm | Edited 12:32pm
Ok folks there are two ways to do this…

1) You can trade all day (EU/NY session) which you take all the signals no cherry picking and play them all according to the plan, religiously, where anything less than that will lead to your demise. Giving the benefit of the doubt that you do all correctly then will some day’s end up with unseen amount of pips and other days losing 50+ pips or so. Due to very favorable RR and risk measurement of this system one should still be profitable but at the cost of lots of stress, pressure and high intensity trading for 12+ hr duration. Also one must bear with uncertainty nature of this market when trading long duration where you’re handing the control side of trading more to the market and you system vs YOU, which will have a direct effect to consistency factor and uncertainty of it.

2) Or… you can trade like me… who spends trading only the first three hours of EU open Market… who uses daily management to the max, above all else with no other goal in mind than; to firstly survive and profit secondly. This kind of mindset is what has got me to consistency. Is not the X's O's, my system, TE read, PA read, Fundamentals or overall market knowledge.

Now, you have seen me being down 0-3 -15 midway through my session, then 4th trade comes around and it goes in my favor but struggles to make the target mark, then, what I do!! I bank some to stay afloat, right!! You have seen it… I make the survivability exit a priority… now, this is far from bending my rule of +20… it’s actually being vetoed by more important matter which is survivability “healthy daily management decision” it’s what is called.
Sure if trading was all glorious black and white cut and dry thing, then I would have approached it systematically and rely on Market and my system to deliver me the goods all the time. But it is not.
Your money position on daily and weekly basis should have a priority above everything else. That’s not to say to disobey your whole trading plan… you do this within structural frame that your already working with… you stay the course with not making invalid trades and make due with comes next base on your money position… if it’s abnormal position like 0-3 -15 you bank to ease the pain when trade is struggling the make the target mark. If it’s normal you stick with the system to make target and risking the stop to be hit. If in positive with already up +30/+40, you may push on gas and go for more or to be modest and protect the +20. (just some scenarios at you)
There is no system in this world that can give you the best of everything. It’s nothing magical about it. There is a give and take in trading… if you filter too much to improve accuracy then you will lose out from somewhere else… if you use different exit tactics then it may do good/harm in different days, and so on. The only thing you got in this business is the control you got over yourself and your position. You get a good grip at that then you shall survive and make some money in this market.

In more or less words… there will be bad days regardless of any magical thing that you think you could have done, you will lose at times… for me if I was trading today the worst case scenario would have been probably being involved in 4-5 trades for net -20 tops… and that would have been fine, I just go to bed and come back the next day.


Cheers,
  • #709
  • Feb 2, 2015 12:54pm Feb 2, 2015 12:54pm
Quoting fx-Tycoon
Ok folks there are two ways to do this… 1) You can trade all day (EU/NY session) which you take all the signals no cherry picking and play them all according to the plan, religiously, where anything less than that will lead to your demise. Giving the benefit of the doubt that you do all correctly then will some day’s end up with unseen amount of pips and other days losing 50+ pips or so. Due to very favorable RR and risk measurement of this system one should still be profitable but at the cost of lots of stress, pressure and high intensity trading...
Thanks Ty, apreciate your efforts on this. Great explanation!
  • #710
  • Feb 2, 2015 1:04pm Feb 2, 2015 1:04pm
fx-Tycoon,
Thanks for that real world approach to MM, for me, the positive mental effect of banking a winner cannot be overestimated.
Gave today a miss, too tired after an all night poker/superbowl marathon session (UK)
See you guys tomorrow,
  • #711
  • Feb 2, 2015 1:37pm Feb 2, 2015 1:37pm
Quoting Go5
{quote} Thanks Ty, apreciate your efforts on this. Great explanation!
YW.


Cheers,
  • #712
  • Feb 2, 2015 1:42pm Feb 2, 2015 1:42pm
Quoting pullup
fx-Tycoon, Thanks for that real world approach to MM, for me, the positive mental effect of banking a winner cannot be overestimated. Gave today a miss, too tired after an all night poker/superbowl marathon session (UK) See you guys tomorrow,
It was probably the best Superbowl game ever... That lucky catch at the end was just unbelievable to got down as such, but then looked like it wasn't meant to be with the goal line interception, lol, unbelievable stuff... really enjoyed it and how about that Cathy Perry, great half time show as well.

See you all tomorrow, sharp.


Cheers,
  • #713
  • Feb 2, 2015 3:38pm Feb 2, 2015 3:38pm
FX-Ty,
Thanks for making the MM tingy clear.I agree it's a dog-eat-dog world out there. You need to do what you need to do in order to survive...hence survivability theory. Price action will never be the same for any two days. That's when you have to be able to read the play and defend against loses......like Brady/ Wilson. We all play to WIN. We might have a few points/pips against us but at the end of the day we're looking to win the game.
Thanks again for this easy strategy.....
  • #714
  • Feb 2, 2015 3:59pm Feb 2, 2015 3:59pm
Ok, guys. I see time has come to update the pdf with the most relevant stuff I had posted a few days ago. So many important posts and concepts have been added in a short time, which make fx-Tycoon's strategy more and more clear and I thought a new more complete version would be good to have at hand. The layout of the document, including the pictures quality, has been improved to get better printouts. Times are CET.
Enjoy
Attached File(s)
File Type: pdf 45 Combo - momentum system by fx-Tycoon-v2.pdf   2.4 MB | 1,301 downloads
  • #715
  • Feb 2, 2015 4:19pm Feb 2, 2015 4:19pm
Quoting Hammertop
Ok, guys. I see time has come to update the pdf with the most relevant stuff I had posted a few days ago. So many important posts and concepts have been added in a short time, which make fx-Tycoon's strategy more and more clear and I thought a new more complete version would be good to have at hand. The layout of the document, including the pictures quality, has been improved to get better printouts. Times are CET. Enjoy {image}
lot of work, well done
  • #716
  • Feb 2, 2015 7:25pm Feb 2, 2015 7:25pm
FX, Thank you for sharing your methodology. I have been lurking for the last week or so and really appreciate your pragmatic approach in not only assessing and taking trades but also your replies to the questions put to you.
Also, thanks to Hammertop for the "condensed" pdf you have put together. It may be worthwhile putting this in the first post to assist others who visit your forum.
  • #717
  • Feb 2, 2015 8:54pm Feb 2, 2015 8:54pm
Quoting fx-Tycoon
Ok folks there are two ways to do this… 1) You can trade all day (EU/NY session) which you take all the signals no cherry picking and play them all according to the plan, religiously, where anything less than that will lead to your demise. Giving the benefit of the doubt that you do all correctly then will some day’s end up with unseen amount of pips and other days losing 50+ pips or so. Due to very favorable RR and risk measurement of this system one should still be profitable but at the cost of lots of stress, pressure and high intensity trading...
That's some more gold right there!
  • #718
  • Feb 3, 2015 12:27am Feb 3, 2015 12:27am
Hello to all... preparing for the session.

Thank you Hammer man for the pdf.


Cheers
  • #719
  • Feb 3, 2015 1:01am Feb 3, 2015 1:01am
Quoting fx-Tycoon
Ok I just glanced over all your posts for today. I see some frustrations or concerns and some opinions. I will make one post to generalize all in one which will attend to all. Before I do that I like you to know... You can not approach trading in a too systematic way, it won't work. It is too vast of a giant to put a cap on an be a consistent winner. Stay tune.
i agree.

for me trading has nothing to to with science...its rather an art like playing a piano.
trading is like dancing, don't think and just listen to the music!
  • #720
  • Feb 3, 2015 1:19am Feb 3, 2015 1:19am
If your watching the action... on GU see how not being so anxious and being patience can save you money.
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