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45 Combo - momentum system

  • #1,621
  • Feb 17, 2015 6:09am Feb 17, 2015 6:09am
I see, correct me if i'm wrong please, but according to the rules it was not a signal because 5EMA crossed (a tiny bit) below 40EMA on the signal candle, but well done!
Persistence will get it. Consistency will keep it.
  • #1,622
  • Feb 17, 2015 6:25am Feb 17, 2015 6:25am
Quoting Chake
I see, correct me if i'm wrong please, but according to the rules it was not a signal because 5EMA crossed (a tiny bit) below 40EMA on the signal candle, but well done!
Yes, true - but it did not go into or beyond the narrow-signal scene so I just took it. I will mark it as a "not to the rule" in my log and after 300 or so trades we will have some data...
  • #1,623
  • Feb 17, 2015 7:06am Feb 17, 2015 7:06am
How do you guys find this system for NY session ?
  • #1,624
  • Feb 17, 2015 7:12am Feb 17, 2015 7:12am
Another today trade.

https://charts.mql5.com/7/33/gbpusd-...rectdealer.png

for today I do not work more!

See you soon.
  • #1,625
  • Feb 17, 2015 7:42am Feb 17, 2015 7:42am
Quoting matlobien
How do you guys find this system for NY session ?
Hi Matlobien, i did not trade the NY session often enough to say something about it, but do know i saw some nice setups in last hours of NY session (hour 3-5) last few days. But to me this is not the optimal trading time (also according fx-Tycoon), so i think should not be traded if you are not sure what you are doing.
Persistence will get it. Consistency will keep it.
  • #1,626
  • Feb 17, 2015 7:45am Feb 17, 2015 7:45am
Quoting Chake
{quote} Hi Matlobien, i did not trade the NY session often enough to say something about it, but do know i saw some nice setups in last hours of NY session (hour 3-5) last few days. But to me this is not the optimal trading time (also according fx-Tycoon), so i think should not be traded if you are not sure what you are doing.

Agree
  • #1,627
  • Edited 8:17am Feb 17, 2015 8:02am | Edited 8:17am
Quoting DonVito
Another today trade. {image} for today I do not work more! See you soon.
While I congratulate to you, I'm afraid I have to say that's not an ideal 45 trade. I'm sure if you analyse better you'll find why.
I'll give you a hint: have a look at post # 608.
  • #1,628
  • Edited 9:38am Feb 17, 2015 9:20am | Edited 9:38am
Quoting Hammertop
{quote} While I congratulate to you, I'm afraid I have to say that's not an ideal 45 trade. I'm sure if you analyse better you'll find why. I'll give you a hint: have a look at post # 608.
Ok, I realized my mistake!!!

the price does not return back to ema40 but it go sideway around ema5!

thank you Hammertop.
  • #1,629
  • Feb 17, 2015 10:28am Feb 17, 2015 10:28am
Quoting DonVito
{quote} Ok, I realized my mistake!!! the price does not return back to ema40 but it go sideway around ema5! thank you Hammertop.
True, it does not get back to the EMA40, but there is more.
It has something to do with swing qualify.

Price going sideway around 5EMA has nothing to do with it.
Persistence will get it. Consistency will keep it.
  • #1,630
  • Feb 17, 2015 1:14pm Feb 17, 2015 1:14pm
Quoting Chake
{quote} True, it does not get back to the EMA40, but there is more. It has something to do with swing qualify. Price going sideway around 5EMA has nothing to do with it.
Swing is 10 pips exactly from ema crossover point,
the only thing I do is that I not have a correct pullback price movement.

Sorry, I really not understand what I miss, can you explain me please?

Thank you Chacke.
  • #1,631
  • Feb 17, 2015 1:47pm Feb 17, 2015 1:47pm
Quoting fx-Tycoon
Ok guys I am going to put a lil quiz out which I expect everyone to participate. It's time to talk about the 10 pips grid blocks on my chart... what do you think it's the use for it? (useful in two areas) ..hint; from reviewing my live plays you should get some clues. Cheers,

The first a few people who participate all gave pretty good answers and descriptions. Well done.

I use it for visual measurement purposes by one glance such as stop size, swing qualify… as you know we deal with speed, 1m movement in high liquidity time could fast and when signal is developing we need to act quick and at times not much to measure things.

I also use the grid to see the momentum on how squeezed or wide the grids are apart, so again very quickly with one glance I can see what the PA is ranging in recent time. If 40 ema is sloping soft inside one or couple grids areas for a long time or if it’s sloping trendish.

In summery it serves me as a visual speed measurement tool than much of anything else.

I found it necessary to be mentioned.

Cheers,
  • #1,632
  • Edited 2:54pm Feb 17, 2015 2:00pm | Edited 2:54pm
Quoting DonVito
{quote} Swing is 10 pips exactly from ema crossover point, the only thing I do is that I not have a correct pullback price movement. Sorry, I really not understand what I miss, can you explain me please? Thank you Chacke.

People can only help you when you are prepared to understand Don Corleone... that means you need to read and Understand the thread in full or at least make the effort to read all the content of the first post, memorizing the post two image is not that hard with no language barrier.

Please do so and come back with full hands next week.

Plz read the link below to understand why I did what I did.
http://www.forexfactory.com/showthre...68#post8051468


Cheers,
  • #1,633
  • Feb 17, 2015 2:34pm Feb 17, 2015 2:34pm
From reading today's post I see one issue worth talking about as little details that comes up.

Member chake took a gu short trade off Narrow signal which there was a discussion about (the chart below)
This signal is valid... why? I explain...

As you see in chart I have marked the first Narrow short signal off the large bold candle which made the signal invalid due to large stop size. Now, shortly after the second Narrow comes and it is valid to take a shot at... this type of second narrow is different than the ones that comes after a No initial cross, ok!!!.
If you have a first narrow that fails the crossover of MA's then that situation for a possible signal is dead... but when the initial (first Narrow cross) crossover does happen but the signal fails due to other types a of confirmation such as this one with large stop size then we stay on course with this situation and look for a second chance if it meets all the criterias or even third and so on as long as the momentum shows to be there still.

It's hard to put this type of situations in words... but if you are one of the dedicated members of this thread and know the martial you should quickly understand why it makes sense and how it's connected to the core philosophy of the method... we are after momentum and would stay with it until it fades away... I thin member Chake understood this and took the trade promptly as he realized the momo is there in favor of the short as it make all the sense.

Please read this a few time, watch the chart a few times then look for other similar instances by dig inside the charts, then i will come to you like magic, lol.


I hope it's clear.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.IM1.png Size: 76 KB
  • #1,634
  • Feb 17, 2015 2:49pm Feb 17, 2015 2:49pm
I see good activity and cohesiveness between members in here and that is great. I know I was not here today and may not be here tomorrow but I might not be here all the time generally speaking, however I do check the thread at least once a day and keep eye in the background.

Today should have been a good session for all, solid pullback trades in the late third hour for quick 20's... so daily target was the least you should have had... possibly a +60 was doable.

Do not be discouraged by my absents at times rather be encouraged to trade along side everyone else who are working this method with dedication... the more practice you get under your belt the better you will become... this is a simple method, a doable one once you full understand the importance of overall management of it... it's a method that you can and should be able to adapt too... just need a lil dedication and diligence in what you do.

Keep up the good work everyone and the senior members do your part to contribute to the community by helping others and each other in the heat of the battle... paying a it forward!! that's what it's all about, spread good Karma.


Cheers,
  • #1,635
  • Feb 17, 2015 3:16pm Feb 17, 2015 3:16pm
Quoting fx-Tycoon
From reading today's post I see one issue worth talking about as little details that comes up. Member chake took a gu short trade off Narrow signal which there was a discussion about (the chart below) This signal is valid... why? I explain...
Oh. come on, mate... I just finished all that hard work with the pdf and you already come up with something so precious to add? It's never gonna end...
Joking apart, excellent again. I too thought that after the 1st thin bar the setup was disqualified but the whole thing as you just explained makes full sense. Congrats to Chake and many thanks again to you, TY. More structure to remind... Keep up the good work
  • #1,636
  • Feb 17, 2015 3:38pm Feb 17, 2015 3:38pm
Quoting fx-Tycoon
From reading today's post I see one issue worth talking about as little details that comes up. Member chake took a gu short trade off Narrow signal which there was a discussion about (the chart below) This signal is valid... why? I explain... As you see in chart I have marked the first Narrow short signal off the large bold candle which made the signal invalid due to large stop size. Now, shortly after the second Narrow comes and it is valid to take a shot at... this type of second narrow is different than the ones that comes after a No initial...
Excellent explanation...now i got it... and Chake was right!
Hope you'll still be around Tycoon....that s why ....here is an other question for you?
The daily range indi...
Anything has a sense on your charts, so i wonder, why we need a daily range if we actually are supposed to trade mostly the first 3 hours from Frankfurt open?
  • #1,637
  • Feb 17, 2015 11:49pm Feb 17, 2015 11:49pm
Hello to all... a little early at my desk tonight, got some work to do before the session. If I get my 20 early on I will head to bed got a long day ahead of me.


Good skill to all.


Cheers,
  • #1,638
  • Feb 17, 2015 11:55pm Feb 17, 2015 11:55pm
Quoting Pipsverdi
{quote} Excellent explanation...now i got it... and Chake was right! Hope you'll still be around Tycoon....that s why ....here is an other question for you? The daily range indi... Anything has a sense on your charts, so i wonder, why we need a daily range if we actually are supposed to trade mostly the first 3 hours from Frankfurt open?
You don't have to have that indi on you chart.
True I/we only trade the the first 3hrs of eu open but that session is big part or rather the driving force of the currency market... so to have a overall exposure of day to day market range would not hurt... more importantly the 20-day average is essential to know for overall strength of the pair and market since our focused pairs are all majors.


Cheers,
  • #1,639
  • Feb 18, 2015 12:35am Feb 18, 2015 12:35am
Quoting Hammertop
{quote} Oh. come on, mate... I just finished all that hard work with the pdf and you already come up with something so precious to add? It's never gonna end... Joking apart, excellent again. I too thought that after the 1st thin bar the setup was disqualified but the whole thing as you just explained makes full sense. Congrats to Chake and many thanks again to you, TY. More structure to remind... Keep up the good work
Well little details comes up and people go confused a bit... but the first explanation of the Narrow signal and understanding of it should make one see the core value... which is momentum and is still there for the short take down.


Cheers,
  • #1,640
  • Feb 18, 2015 12:49am Feb 18, 2015 12:49am
Thanks Fx for your words and encouragement. Good luck today the pairs seem to be shaping up, I hope you get your early 20.
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