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45 Combo - momentum system

  • #721
  • Feb 3, 2015 1:22am Feb 3, 2015 1:22am
Quoting fx-Tycoon
If your watching the action... on GU see how not being so anxious and being patience can save you money.
Definitely I saw that , EU came within a nat's whisker of being a set up as well.
  • #722
  • Feb 3, 2015 1:25am Feb 3, 2015 1:25am
Quoting fx-Tycoon
If your watching the action... on GU see how not being so anxious and being patience can save you money.
What was it that kept you out of that trade ?
  • #723
  • Feb 3, 2015 1:30am Feb 3, 2015 1:30am
eu long..
Attached Image (click to enlarge)
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  • #724
  • Feb 3, 2015 1:30am Feb 3, 2015 1:30am
Long EU
Attached Image (click to enlarge)
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  • #725
  • Feb 3, 2015 1:33am Feb 3, 2015 1:33am
Quoting fx-Tycoon
eu long.. {image}
-6.5..


0-1 -6.5 for the day so far
  • #726
  • Feb 3, 2015 1:35am Feb 3, 2015 1:35am
Quoting fx-Tycoon
{quote} -6.5.. 0-1 -6.5 for the day so far
I didn't take it, my platform froze and saved me some pips...........
  • #727
  • Feb 3, 2015 1:41am Feb 3, 2015 1:41am
-7 with EU
Attached Image (click to enlarge)
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trading is like dancing, don't think and just listen to the music!
  • #728
  • Feb 3, 2015 1:41am Feb 3, 2015 1:41am
ok as you might be watching the action the quick assess of it would be something like this..

There was a good solid momentum move pretty much on all four pairs which got diminished by the strong pullbacks and now is just chaotic... that means not reversing for a solid move or resuming any kind of momentum and it's just playing weekly in the middle. These are the time that you don't want to force any trades until a good solid momo move establishes.

Now technically speaking... on ej, price moved about 11 pips and gave out a signal... but ask yourself if that is a mature momo move... it's definitely not.
No to mention that it's far from Ideal signal.... low momo larger stop.
  • #729
  • Feb 3, 2015 1:42am Feb 3, 2015 1:42am
Morning guys

Didn't take it as well... But I think thats a personal thing
I don't trust the german bank boys, lol.
I lost so many times because of a frankfurt fakey, so I trade only during that time when I have the perfect feeling and chart for it.

EDIT:
and while I was typing I missed my GJ setup I was waiting for the last 30 min
  • #730
  • Feb 3, 2015 1:50am Feb 3, 2015 1:50am
EU came close again I had to zoom in to see if the moving averages had crossed and they had so I didn't take it. Cables looking weak.
  • #731
  • Feb 3, 2015 1:53am Feb 3, 2015 1:53am
Quoting schoe
EU came close again I had to zoom in to see if the moving averages had crossed and they had so I didn't take it. Cables looking weak.
Was it even swing qualify?
  • #732
  • Feb 3, 2015 1:54am Feb 3, 2015 1:54am
Quoting fx-Tycoon
...Now technically speaking... on ej, price moved about 11 pips and gave out a signal... but ask yourself if that is a mature momo move... it's definitely not. No to mention that it's far from Ideal signal.... low momo larger stop.
I took it in a rush and even at a better price but realised late it was "far from Ideal signal" and dropped it at 1 pip profit. In such cases, if you manage to lower the risk when the price retraces, would you enter the trade or the fact that the original signal was a bit stretched still suggests caution? Thanks
  • #733
  • Feb 3, 2015 1:55am Feb 3, 2015 1:55am
Quoting fx-Tycoon
ok as you might be watching the action the quick assess of it would be something like this.. There was a good solid momentum move pretty much on all four pairs which got diminished by the strong pullbacks and now is just chaotic... that means not reversing for a solid move or resuming any kind of momentum and it's just playing weekly in the middle. These are the time that you don't want to force any trades until a good solid momo move establishes. Now technically speaking... on ej, price moved about 11 pips and gave out a signal... but ask yourself...
You are a very good teacher.

  • #734
  • Feb 3, 2015 1:55am Feb 3, 2015 1:55am
Red news in five minutes. Spanish Unemployment
  • #735
  • Feb 3, 2015 1:59am Feb 3, 2015 1:59am
Quoting Hammertop
{quote} I took it in a rush and even at a better price but realised late it was "far from Ideal signal" and dropped it at 1 pip profit. In such cases, if you manage to lower the risk when the price retraces, would you enter the trade or the fact that the original signal was a bit stretched still suggests caution? Thanks
I don't understand what you mean by "lowering the risk"!!... the entry point is clear and so will be the risk... if you mean playing with the entry point as to take it earlier or up higher etc,... I don't find it wise.

to me if its not firstly and for mostly swing qualify then I don't even look at it any longer.

You need..
1) Swing qualify
2) PB qualify
3) Resume qualify

if the first one is not qualified then just foged abow it, lol

btw) ej would have been stopped.
  • #736
  • Edited 2:16am Feb 3, 2015 2:05am | Edited 2:16am
Quoting fx-Tycoon
{quote} Was it even swing qualify?
Good point FX. I would like to get this 100% in my slow brain. Have I marked the swing correctly with the yellow lines if I have it would just have qualified by 1 point (11) or should the swing be measured differently. That UJ trade you just took appears to have exactly the same swing as this trade?
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  • #737
  • Feb 3, 2015 2:07am Feb 3, 2015 2:07am
Quoting Crete
Red news in five minutes. Spanish Unemployment
Hello folks,

Whatever the new figure will be, it won't surprise anyone anymore .
  • #738
  • Feb 3, 2015 2:09am Feb 3, 2015 2:09am
Quoting fx-Tycoon
{quote} I don't understand what you mean by "lowering the risk"!!... the entry point is clear and so will be the risk... if you mean playing with the entry point as to take it earlier or up higher etc,... I don't find it wise. to me if its not firstly and for mostly swing qualify then I don't even look at it any longer. You need.. 1) Swing qualify 2) PB qualify 3) Resume qualify if the first one is not qualified then just foged abow it, lol btw) ej would have been stopped.
I meant exactly that. Thanks for clarifying and you anyway confirmed what I thought. It's the triggering signal that assesses the risk, not what happpens after. I didnt enter because of the lower risk but just because I didnt assess well and Im glad I chose to exit in time.
You've already made the second pdf obsolete
  • #739
  • Feb 3, 2015 2:10am Feb 3, 2015 2:10am
uj long...

Now, I know the swing qualify is not all that great just barely over 10... but it's the move which could be resuming back the previous up momentum.
Attached Image (click to enlarge)
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  • #740
  • Feb 3, 2015 2:11am Feb 3, 2015 2:11am
Good morning Ty,
EU short +30.
I'm having an issue with the time. It is currently 3AM EST. That would mean I am 1hour late for the EU open however, I entered an all the right signals. went to get a cofee and was +30, so I manually closed.
I just installed MT4 so I don't know how to upload pics. I'm only trading 1 pair E/U till I get comfortable. The clock on MT4 indicates Feb 3 2015 9:55 time of trade.
I'm goin back to bed after my coffee ....working day
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