45 Combo - momentum system

-18.5 for today...

Just got the new fibre broadband installed earlier, looks like I missed getting my #ss handed to me in this session, back for more after Yellen/Draghi speak,
GL guys

morning Tycoon... it was a war this morning lol

Hi guys, so posts for me to read.. I see the nice activity from everyone and that is nice. As I mentioned before that this would be a busy business week for me but unfortunately I been battling with flue as well for last couple of days and last night I thought I could get a couple of trades in and but after 10 minute on my chair I was feeling weak so I bailed on a bullet right into the bed.. so sorry for my sudden disappearance. Feeling much better this am though will see this thing comes and goes.

I start reading the post and see if it needs my input... mean time if there is anything let me know while I am here for the next hour or so.


Cheers,

Morning bud... war? I hope it's all good.

well...nobody could close the session in positive... I imagined that something happen to you because normally you always say good night before leaving...hope you'll be better soon...
I think there is a nice group of traders here... that are really starting to "collaborate" toghether more and more... and the tones are always very polite and respectful (not always like this here on FF)....

btw Draghi is talking let s see if it gives some push here..

Hi FX. I bet nobody's ever told you this but you picked a great time to be ill. Had my backside slapped this week. lol.

It's all good still learning. We had a healthy debate about the D word earlier. (discretion)

Cheers.

Schoe.

I'm away with work Thursday and Friday so you guys and girls should be able to rake some pips in as I think I have jinxed the market this week.

Just zipped through the posts and reviewed the chart for our session.. I see there was about 7-8 valid shots between the four pairs and the winners rolled in at the end of 3rd - early 4th hour.. tough day overall I assume.
I see some discussion about discretion, rules, MM etc,.. first of all it is so great that you guys discussing things in a LIVE moments, it will only make you grow for the better in this system or trading overall. Secondly I see some great points by different members about matters... it's all about finding that balance for your own. There is no perfect system nor trading could be systematic IMHO as I have mentioned before, MM should play a big role in your overall trading anyways, you're the captain of the ship. You got a guide here and it seems to be a good enough guide to go by... increasing or decreasing of anything could lead to a problem, such as; if you bring too much discretion to the table, well, it will hurt you by missing some good solid potential winners, but if you included just enough of it with some structures, then, you should be fine, you will find your balance (you can not have the best of both world!!).. and so on for every other elements that you add or void.

However, you will have bad days and weeks, it's just part of this profession and it happens to the best of the best even the fundies who trade billions with all kind of first hand information at their disposal. It's a warfare in the trenches as Gekko put it so nicely, lol.. and you as the sole captain of the ship need to find YOUR own balance in this profession of trading business.
I have many times talked about the importance of your money position in daily, weekly matter. For example, if you're down 0-2 for -12 and the next potential trade is like the uj (or some other trade can't remember exactly) one that shoe took and some of you did not and was a discussion about, even though is a valid one but may not be the most ideal one for your current position!! and therefore it should be a pass... now, thats far away from cherry picking, bcz is not based on technical but rather your MM... if you're constantly cherry picking based mostly on technical then YOU will get hurt, are you with me!!!... so again find that balance and look out for yourself for first and most. If you're up for the week then it's ok to take such trades and go for the kill since you can afford as long as it don't fk with your overall score.
Now, there would be weeks where all of the ideal setups could fail or all your ideal MM decision could fail!! and thats just part of this beast we got no control, it rough and tough at time... however the chances are low for such bad conditions all the time.. and once you get in the habit of doing the right things in terms or repetition then you will prevail in the end, the good times will arrive along with your wise actions and our sound RR will out weight... it just needs patience, dedication, belief and believe and last but not least a tough skin SOB through thick and thin, lol.

I hope it makes sense to you and could take away some goods out of this post... I try to be as honest and to the point as I can from what I see of your posts to address it to best of my knowledge based on my own past hard earned experience as much as I can relate too. I could very well be wrong or etc, but again you are the sole captain of the ship and you should take away or avoid only what makes sense to you and your work within the method that you may trying to follow or develop. It's all you baby.

Cheers,

No not so great... I would have made money last night and all the day before... but that does not mean you or everyone else could do the same or better or worse, I hope you get my driffit.
You will be missed the next two days, maybe it's good to stay away from the charts a bit though. You should not be down 80... so, reflect back to see what you could have done better in the live moments by going through thought process (it's a great practice) and make notes in the charts/paper.
It's all about learning and developing process and from what I see you're on the right path but it just might take you a little longer but it will and could happen for and that's what matters in the end. Once it clicks then you will be in the wining columns, maybe not daily all the time, but may weekly or monthly or yearly in the end.

Cheers,

Will do thanks for the advice and ongoing support. It's going to take time and effort to turn me into a winning trader.

Thanks bud, feeling a bit better now.

"I think there is a nice group of traders here... that are really starting to "collaborate" toghether more and more... and the tones are always very polite and respectful (not always like this here on FF)."

I love that and appreciate it greatly... I sure it will stay that way based on the quality personalities that we got here where everyone is very much business minded out to grow and persevere to reach financial freedom or up it to higher levels.

Cheers,

Ok see you guys later... hopefully I can be up and running for the session.


Cheers,

YW... you got me and rest of your brothers here to help each other out.


Cheers,

Just been going through my trades. I think I got seen off by my Broker on this one maybe because I am on demo.

The high of the candle I got stopped on was 135.042 My stop was taken out at 135.049 This should have been a winner. I've had a couple of these this week.

What happened with every one else? Did anybody take this trade?

if you have a fixed spread that is always 1.0 pip like is shown on your chart that's why you have been taken out....
135.042+0.01 = 135.052

I did and it worked out. I closed it earlier because I had EU open as well. Both reached about 36 pips altogether but unfortunately I had to leave the workstation at that time and when I was back I panicked as they were retracing, so closed both for 20 pips total, leaving 20 on the table. Stupid mistake...

Ty, reading your posts only now. Sorry to know you're sick. Get well soon, for yourself and us. You've been missed here

Ok thanks Pips so should I add the spread onto the 0.7 from the swing high? Can't blame you for taking profits early hammer it's been a tough couple of days I haven't had any profits to take. lol.

If I can reply to this question... my understanding, since I asked in the past, is that Ty doesn't add any spread (see post #47 and 410). Just 0.7 buffer and that's it. But you have to consider that it's best for this system to use ECN accounts, which have lower spreads, so that makes Ty's way more acceptable.

Hello to all, preparing for the session. No red news for the session mostly.

Cheers,