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45 Combo - momentum system

  • #2,581
  • Mar 24, 2015 9:55am Mar 24, 2015 9:55am
Quoting The Sparrow
my trade was taken @9:09 EDT the stop losses could have been set up at the pivot = 16 pips, or at the hi of entry candle = 11 pips, my mental stop was at 10 pips, in fact price never went more the 7 pips against me. and the trade was screaming at me "Take me now!" it was the first pull back with strong momentum, a touch of the 40 ema, a reverse of the 5ema, man how perfect can it get? whats a Sparrow to do?
Well, as long as you're aware of your risk... That's the main thing. Surely not a textbook trade as per 45 rules... Neither 16 or 11 pips stop loss good enough for me.
  • #2,582
  • Mar 24, 2015 10:07am Mar 24, 2015 10:07am
Thanks Hammertop,
You're correct and my exit strategy was also an exception.
And I do need more discipline in my trading.
"Although I also believe what a wise man once told me,
"More money is lost in the pursuit of perfection then any other cause."
Peace and good trading, Brother!
What would you do if you knew you could not fail?
  • #2,583
  • Edited 2:43am Mar 25, 2015 2:11am | Edited 2:43am
UJ Long based on narrow entry

UPDATE: Close @BE. Does not like the movement.
Attached Image
  • #2,584
  • Mar 25, 2015 2:28am Mar 25, 2015 2:28am
Quoting pipstroll
UJ Long based on narrow entry
i trade a narrow only if it goes in one bar straight through the 40-5 area...personal choice.

but low risk trade
trading is like dancing, don't think and just listen to the music!
  • #2,585
  • Edited 2:57am Mar 25, 2015 2:45am | Edited 2:57am
GU Long

TP +20
Attached Image
  • #2,586
  • Mar 25, 2015 2:46am Mar 25, 2015 2:46am
Quoting birdland
{quote} i trade a narrow only if it goes in one bar straight through the 40-5 area...personal choice. but low risk trade
Yes, me too. I saw it as one bar crossing 40 - 5 MA area. Was it not?
  • #2,587
  • Mar 25, 2015 2:49am Mar 25, 2015 2:49am
Quoting pipstroll
{quote} Yes, me too. I saw it as one bar crossing 40 - 5 MA area. Was it not?
no, it needed two bars to get through this area.

the first minute bar closed above the 5EMA and the second bar did jump through the 40EMA...but for my taste not enough and late
trading is like dancing, don't think and just listen to the music!
  • #2,588
  • Mar 25, 2015 2:52am Mar 25, 2015 2:52am
Quoting birdland
{quote} no, it needed two bars to get through this area. the first minute bar closed above the 5EMA and the second bar did jump through the 40EMA...but for my taste not enough and late
Ok. Got it. Thank you for the enlightment.
  • #2,589
  • Edited 3:39am Mar 25, 2015 2:53am | Edited 3:39am
EJ Long
EU Missed


UPDATE: EJ TP+20
Attached Image
  • #2,590
  • Edited 3:09am Mar 25, 2015 2:59am | Edited 3:09am
Quoting pipstroll
EJ Long EU Missed
dont worry, everything got to TP now

you need constant 5-10 pips a day to get rich in 1 year.

what do you want more?

by the way: GU and EJ were perfect low risk trades before LO!

birdland
trading is like dancing, don't think and just listen to the music!
  • #2,591
  • Mar 25, 2015 3:00am Mar 25, 2015 3:00am
Quoting birdland
{quote} dont worry, everything got to TP now you need constant 5-10 pips a day to get rich in 1 year. what do you want more?
To get rich in an hour
  • #2,592
  • Mar 25, 2015 3:05am Mar 25, 2015 3:05am
Quoting pipstroll
{quote} To get rich in an hour
trading is like dancing, don't think and just listen to the music!
  • #2,593
  • Mar 25, 2015 3:15am Mar 25, 2015 3:15am
Quoting pipstroll
GU Long TP +20 {image}
Same here.
  • #2,594
  • Mar 25, 2015 3:26am Mar 25, 2015 3:26am
Quoting birdland
{quote} 42% so far
Impressive! Of those winners, what is your % of original TP (20 pip) winners?
  • #2,595
  • Mar 25, 2015 4:34am Mar 25, 2015 4:34am
Quoting Go5
{quote} Impressive! Of those winners, what is your % of original TP (20 pip) winners?
so far 32%


by the way, i am more and more with Ty quoting PA means nothing to him.

i come from a technical point in trading, so was influenced by this.

but with these 1minute trading PA conditions are changing so fast, that in this "microcosmos" it means less.

i am still looking at the shape of the retracement, for exmaple: if the room between the signal and the top/low of the retracement is only 2-3 pips, i leave it most of the times...

birdland
trading is like dancing, don't think and just listen to the music!
  • #2,596
  • Mar 25, 2015 5:00am Mar 25, 2015 5:00am
i can really recommend this script from pips4life to document your trades for your personal journal.

you can choose what you want on your chart: enty, exit, stop, size, dollar, time, etc...

(of course you can also drag and drop it from your trading history...the old fashion way)

http://www.forexfactory.com/showthread.php?t=46668

dont forget its a script, so dont copy it into the indicators folder!

EU example below
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM1.png Size: 98 KB
trading is like dancing, don't think and just listen to the music!
  • #2,597
  • Mar 25, 2015 5:23am Mar 25, 2015 5:23am
Quoting birdland
i can really recommend this script from pips4life to document your trades for your personal journal. you can choose what you want on your chart: enty, exit, stop, size, dollar, time, etc... (of course you can also drag and drop it from your trading history...the old fashion way) http://www.forexfactory.com/showthread.php?t=46668 dont forget its a script, so dont copy it into the indicators folder! EU example below {image}
  • #2,598
  • Mar 25, 2015 7:52am Mar 25, 2015 7:52am
Quoting birdland
i can really recommend this script from pips4life to document your trades for your personal journal. you can choose what you want on your chart: enty, exit, stop, size, dollar, time, etc... (of course you can also drag and drop it from your trading history...the old fashion way) http://www.forexfactory.com/showthread.php?t=46668 dont forget its a script, so dont copy it into the indicators folder! EU example below {image}
Second that, I also modified an excel tradelog sheet where I dump the p4l output and voilá...

...32%: astonishing, not counting "poor and erroneous" trades, I only get ~26 %; you're obviously very good at extra filtering here!
  • #2,599
  • Mar 25, 2015 9:44am Mar 25, 2015 9:44am
Quoting Go5
{quote} Second that, I also modified an excel tradelog sheet where I dump the p4l output and voil... ...32%: astonishing, not counting "poor and erroneous" trades, I only get ~26 %; you're obviously very good at extra filtering here!
hi go5, i cannot get how to have the output file... dumb me!..
can you help me please...?
thanks
  • #2,600
  • Mar 25, 2015 10:09am Mar 25, 2015 10:09am
Quoting Pipsverdi
{quote} hi go5, i cannot get how to have the output file... dumb me!.. can you help me please...? thanks
You need to gor to the 3rd line from the bottom (input tab) and put in the filename, e.g. 25-3-15.
Then go to the created 25-3-15.csv file in the /mql4/files folder.
I also put "display arrows" to "0" because I always have all trade arrows on my charts with the "ordini" indi.
Cheers
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