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45 Combo - momentum system

  • #1,521
  • Feb 13, 2015 1:31pm Feb 13, 2015 1:31pm
Quoting fx-Tycoon
Ok I just saw member Hammertop mentioned he will be working on the new PDF. There is one other element that I wanted to touch on the up coming week but I got some time now I will put it out and this makes HT's life easier too. This is about using limit order when and if you happen to miss a signal. The reason I have not brought this up from the get go is because I did not want for people to make a habit of this instead of the use of normal stop order but to go for this all the time. Using limit is much riskier, it should only be used for emergencies...

Good morning Tycoon, I am trying to find an example of this last "tool" , but i wanted to ask : If we miss a signal... where do we put the limit with the 0.7 buffer? just where the price is at that moment? and if yes does it matter how many pips is away from the signal and how many bars?
Sorry i am not sure i am clear with my question... Can you show a chart example ?
  • #1,522
  • Edited 10:51pm Feb 13, 2015 1:31pm | Edited 10:51pm
Quoting schoe
I'm going to try and practice my trading this weekend using the trade simulator as I am annoyed I made a mess of this week, missed signals, wrong trades, hesitation etc. ( i've never used the simulator before but have a PDF to work it out) . How long did it take you to become consistent on a weekly basis FX? Thanks for your help this week it is much appreciated.
It's not about just becoming consistent... it's about staying consistent... which could vanish in a flash if you're not up to your game on each and every play, day, week, month, year, decade... oh ya all the time.
I be came consistent rather quick, but in and out of it for some time... then longevity consistency came around when I brought in more discipline. To this day if I slack from my daily routine I can experience inconsistency.

Cheers,
  • #1,523
  • Feb 13, 2015 1:42pm Feb 13, 2015 1:42pm
Quoting russtrader
{quote} Hi Go Have you made profits with a 31 % suucess rate GO , im not familiar with profit rate.. have you closed out trades early, well what i mean is have you mainly stuck to the rules ? would be nice to hear if your account has increased .. well done if it has RussTrader
The account is down almost 1 % and I don't close out trades early (if not over +20pips for the day), average win/lost trade ratio is 2.3.
  • #1,524
  • Feb 13, 2015 2:01pm Feb 13, 2015 2:01pm
something like this?

Attached Image (click to enlarge)
Click to Enlarge Name: ggg.png Size: 60 KB



If it is wrong i'll delete the pic
  • #1,525
  • Feb 13, 2015 2:03pm Feb 13, 2015 2:03pm
Quoting Go5
OK, 65 logged trades so far, profit factor 0.98 (win rate 31%) so let's see how and if we can improve on that. I intend to trade as little as possible and maybe lower TP to 10 or 15 pips once over +20 for the day; well, one just needs to build up his experience - read: hundreds of trades...
I have seen you trade all day long... you can not trade the 1m in obvious low liq times (mid london- late nys) and expect good results.. your lucky you have not lost big.

So if I were you I would do this three things...
1) Trade only the expected higher liq times such as first 3hrs of open sessions..
2) Trade low risk high momentum setups.. ideal setups.
3) Bring in daily management into play.

Otherwise you be experiencing chaos.
  • #1,526
  • Feb 13, 2015 2:04pm Feb 13, 2015 2:04pm
Quoting Pipsverdi
something like this? {image} If it is wrong i'll delete the pic
Exactly.
  • #1,527
  • Feb 13, 2015 2:09pm Feb 13, 2015 2:09pm
I finally got to watch Chris kyles "American Sniper" movie... great movie... I hope coop wins the Oscar for it, Eastwood just awesome.

I believe there has been some controversy about this movie... I like it and he is a hero in my book.. what you guys think??
  • #1,528
  • Feb 13, 2015 2:23pm Feb 13, 2015 2:23pm
Quoting fx-Tycoon
{quote} I have seen you trade all day long... you can not trade the 1m in obvious low liq times (mid london- late nys) and expect good results.. your lucky you have not lost big. So if I were you I would do this three things... 1) Trade only the expected higher liq times such as first 3hrs of open sessions.. 2) Trade low risk high momentum setups.. ideal setups. 3) Bring in daily management into play. Otherwise you be experiencing chaos.
Yes, I am aware of the trades outside of optimum time (8 in total, all losers).I'll keep all your tips in mind, Thanks Ty!
  • #1,529
  • Feb 13, 2015 4:07pm Feb 13, 2015 4:07pm
Quoting fx-Tycoon
I finally got to watch Chris kyles "American Sniper" movie... great movie... I hope coop wins the Oscar for it, Eastwood just awesome. I believe there has been some controversy about this movie... I like it and he is a hero in my book.. what you guys think??
Haven't seen the movie but as far as I'm concerned he is. If you are the average GI Joe a sniper like Kyle is the one who has got your back. One of their main jobs is to protect and save his fellow soldiers. He does that by spotting and stopping enemy snipers, RPG's, machine gunners, etc. The average GI's on the ground will walk right into a machine gun, RPG, crossfire, ambush, etc. without realizing it is there. By the time they realize it is there it is to late. A lot of soldiers owe their lives to these guys. I know this much for sure. If I was one of the soldiers clearing houses in Fallujah I would want ever advantage I could get. I would be thankful to have someone with Kyles skill looking out for me. Every time a sniper like Kyle takes out his target it means that individual can no longer do harm to you or your fellow soldiers. He was just protecting his brothers and I see honor in that. May you RIP Kyle.
  • #1,530
  • Feb 13, 2015 10:35pm Feb 13, 2015 10:35pm
Quoting Crete
{quote} Haven't seen the movie but as far as I'm concerned he is. If you are the average GI Joe a sniper like Kyle is the one who has got your back. One of their main jobs is to protect and save his fellow soldiers. He does that by spotting and stopping enemy snipers, RPG's, machine gunners, etc. The average GI's on the ground will walk right into a machine gun, RPG, crossfire, ambush, etc. without realizing it is there. By the time they realize it is there it is to late. A lot of soldiers owe their lives to these guys. I know this much for sure....
Absolutely agree, like I said, hero in my book.


Cheers,
  • #1,531
  • Feb 14, 2015 12:50am Feb 14, 2015 12:50am
Quoting fx-Tycoon
{quote} You put you limit order exactly where you were supposed to if you had not missed the signal. We are using a 0.7pips buffer, right!!... so let say signal price candle close is at 1.1520.. +0.7 = 1.1527 should be where your buy stop order to be.. but now you have missed it and price is at lets say 1.1540, it is above the price that you want... so therefore you using a limit... now you can open the order tool and manually put in the price you want (1.1527)... or if you use the market dept tool.. you can click on the limit side at least 0.7...
Ty, 1.1520 + 0.7 should be 1.15207 not 1.1527 right?
Persistence will get it. Consistency will keep it.
  • #1,532
  • Feb 14, 2015 3:32am Feb 14, 2015 3:32am
Hi fx-Tycoon I would like to drop a few words of gratittude and thank you very much for sharing your trading system, I think it is a very good and sound system and I'm planning to try it out soon right after reading HammerTops pdf file, I am grateful to have such a passionate trader like you guys and wish you guys the best, and have a green trading! Cheers!
  • #1,533
  • Feb 14, 2015 6:24am Feb 14, 2015 6:24am
Quoting Go5
{quote} The account is down almost 1 % and I don't close out trades early (if not over +20pips for the day), average win/lost trade ratio is 2.3.
Hi Go
Just 1% .. well thats good considering your strike rate. Im just going to trade the London session only this week as my strike rate is more like 50 / 50 then.. if you can get yours up near there that will be all you need !

Good Luck

Russ
  • #1,534
  • Feb 14, 2015 9:02am Feb 14, 2015 9:02am
Quoting Chake
{quote} Ty, 1.1520 + 0.7 should be 1.15207 not 1.1527 right?
May bad you are correct it's 1.15207.

Thx.
  • #1,535
  • Feb 14, 2015 9:11am Feb 14, 2015 9:11am
Folks I won't be trading Monday, be flying away in a few hours for a valentine long weekend getaway.

btw Happy Valentines day to all.
  • #1,536
  • Feb 14, 2015 10:14am Feb 14, 2015 10:14am
Quoting fx-Tycoon
Folks I won't be trading Monday, be flying away in a few hours for a valentine long weekend getaway. btw Happy Valentines day to all.
Wish you a happy getaway!!
  • #1,537
  • Feb 14, 2015 11:13am Feb 14, 2015 11:13am
Quoting fx-Tycoon
{quote} You put you limit order exactly where you were supposed to if you had not missed the signal. We are using a 0.7pips buffer, right!!... so let say signal price candle close is at 1.15200.. +0.7 = 1.15207 should be where your buy stop order to be.. but now you have missed it and price is at lets say 1.15400, it is above the price that you want... so therefore you using a limit... now you can open the order tool and manually put in the price you want (1.15207)... or if you use the market dept tool.. you can click on the limit side at least...
Hey mate, I hope I'm not splitting hairs here LOL
After you edited the mistake, if the price from 1.15207 gets to 1.1540 that means the 20 pip target would have been reached. In this case we wouldn't place a limit order anymore, right? So just to clarify, is there a limit in pips at a point where it's not worth placing a limit order anymore? Thanks.

P.S. - Enjoy your Valentine's. You deserve it
  • #1,538
  • Feb 14, 2015 11:40am Feb 14, 2015 11:40am
Christ, stop being so nit picking guys, improvise a little, lol... you know what I mean there. In the initial post says 10 pips or less.. as soon as you miss it you put in the limit order... obviously if its over 20 then it's a done trade.
I'll readjust damn price again.

I will not talk about this anymore, I should have never brought it up.
  • #1,539
  • Feb 14, 2015 11:53am Feb 14, 2015 11:53am
I am on phone making posts atm...
I tell you guys what... forget this play sorry I ever brought it up... it is a void play and does not belong to the trading plan I am presenting here.
I am deleting all the posts about it and that's the end of it.
  • #1,540
  • Feb 14, 2015 1:28pm Feb 14, 2015 1:28pm
Interesting thread. Next week Thursday I will simulate 2 months of life trading and will see if I can get a good feel for this method. See you then and keep up the good work. I always like to get inspired by folks here ;-).
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