45 Combo - momentum system

well, i want to tell everyone here what jim rogers told me once he was on the university 20 years ago and i joined his speach for 500 people.

he said, if everyone here wants to become a successfull investor or trader, maybe 2 out of 500 here in this room will make it.

i think also that rather 1% will make it in the longterm. its a tough game and no shame if you cant make it.

but IF you have decided to go for it, then do everything what is neccessary to get there.

birdland

So, what did jim tell birdman/us??.. 2% talk is nothing new, tell us something we don't know Jimyy!!. lol

I am going to respond to pullup's post regarding to my back and fourth replies between us and others in live trading session last night, but this reply is for EVERYONE to make some notes to perhaps take away something out of it that I think it will do you good as I am getting into more of advance elements of trading within 45 structure.

First of all... with this method if one trades the 1st 2-3 hours of the session and takes all the signals stone dry in the long run will come out ahead due to favorable RR. However one will go through some down cycles like couple of days or a few days of losses before semi trend or better comes along to hit with winners.. so this is the basic of the method trading it systematically.

But a skillful trader, who has tested it all; trading systematically and discretionary, then would come to realization of finding a balance in between the two in order to be safe and profitable, that's key.. to avoid the down cycles, be safe and turn in consistent profits on daily/weekly basis no matter what or how market behaves, (with a few acceptations such as major crashes, market Armageddon or something).
That's when trading becomes hard and separates the men from boys so to say, the 80/20 comes to play, when 20% make the 80% of money and all.
So in here, besides the basics where 45 crosses for 10 and pulls for a signal on any condition and trade is on, you would need several other little but yet important details to consider for better,smoother,reliable results, such as; eye for the PA behavior when new session starts where if and when new money arrives in the market to take on a new direction, or continuation of last session or a fake and reverse direction etc, all at what rhythm and pulse tick by tick.. next, no matter what feel or intuition you get from PA, still your daily management should rule above all, your daily, weekly, monthly money position should play in front of your eyes and mind before pressing buy or sell on each and every new signal.
live example from last night where most of you were here trading along side of me and everyone else; I took the safest and best signal in the first hour, which was the GU trade after avoiding the the eu and ej out of the gate in the same hour on a so-so flat PA, I reco-ed that but that was not all who made up my final reject decision, I also consider my money position up to that point of the week which was up only 25 pips inside 4th day of the week.. so the priority is to take action but safe and solid... I need to see a better PA... now, I took the trade and banked +16 on it's first real hiccup... why? it's bcz i am so f-king good to know the turn or continuations!!! heck no.. it's irrelevant, I manage my situation, my portfolio, 16 in the bag inside first 45 min is awesome, I am reserving money so to either be closer to reach the daily goal very quick or I can play with house money when and if another good solid opportunities comes along with patience so I have the confident Bank wise and Mental wise to go after it without getting hurt too much if it goes against me. The call is to not go for home-run victory all in one just because I am behind for the week to try to make it in one shot or night on less than a safe signals... ok, next hour we get eu and ej signals again which both were winners ( most of you took it) but PA on both were flat again, same deal as first ones, so I rejected... and later I took the UJ and took 12.. result 2-0 for +28...
sure, if I had traded all the signals regardless I would have made about 60 pips last night... but now I want you to ask Hammetop (and I am not calling him out, it's all for learning purposes inside the small family) how was his night? does he prefer the roll-caster unnecessary heart beating +40 that he went through, being at risk of losing big, or, compare to my smooth in-control 2-0 +28 performance out come.

The bottom line is... when you bring in the mix of decision making, rejecting/accepting valid signals based on commonsense, at time none PA related management decisions, when putting it all together to find a balance, then it makes it a real work, and hard, but eventually is a Must and necessary for every trader to Do in order to be a consistent earner and at the same time staying out of harm the way and markets mercy... when you reach this level, thats when you got the absolute confident of a winner in this market.

I made this post because on what have been witnessing in the thread and pms I receive from unknown and none active which btw I don't reply back too, lol,.. everyone more or less seeking easy-smooth-systematic process in order to find success!! and I am here to tell you, that is some what of a fantasy even though I believe my method can achieve success in such fashion if one can over come the turns physically, financially and last but least Mentally... Now key question!! why I don't or did not choose this way even with my firm belief? The answer lies in higher level and in the root aspect of this profession, which is because I would never create the kind of confidence that I have engraved in my mind and heart now if I had gone the systematic and statistic reliance pathway by being at markets mercy at some point and time... I took the hard way of balanced discretion yet a structural and discipline one at management being the cornerstone for full "Control", the ability to hold grounds in all conditions, to squeeze wins at all/most times (not to make home-runs all the time.. bcz there is a flip side to that).. all in all this is called Confident-Concert (drop that down in your notes)...
anyways, thats what I hope I can transfer to you.

Cheers,

Thanks Ty, lots of good stuff to think over and put to practice...

Since you called me in, I will reply. I humbly see your point and I see that I'm evidently still far from fully understanding the nuances of your strategy. I think my early loss (which should at least have been half for a start) affected my next trades, and that was a mistake. To say the least, I would call it overtrading, which is never good. I do see what you're trying to point out with your enlightening post and will take notice. Thanks for sharing something more to consider on our next sessions. Just gold... as usual

We are getting into real aspects of trading which will separates winners from losers and more importantly a winner into a consistent winner away from harms way to create this absolute confidence.. without it no consistent earner would ever feel safe, and absence of that will eventually lead to problems which leads back to breakeven trader at best if not worst.

That is why being present at Live trading session and actually executing trades, calling them out and have full awareness is key to your success in here.
You get to see mine and everyone else's performance (positive and negative) to compare it yours and reflect back at it the next day to measure yourself constantly to where you at.. it's important when your in growing process.


Cheers,

Fantastic !!!!!!!

wonderful post!
i fully agree that i prefer constant lower daily pips days to higher volatile pips days.
i will read it twice later.

absolutly true,
so far i learned a lot in posting every trade here.
i am sorry for traders in the background not doing this. you will have no learning curve.

there was a short signal on EJ, would be triggered at FFopen.
i did not trade it because the main signal was 4 minutes before FFopen.

yes, I had an itchy finger, but also the distance between entry, by the time it would be taken, and the low was small, so I passed on it. TP reached while I'm typing, but... discipline!

hammer-top

PO on UJ

Edit: deleted

long UJ

Narrow UJ long

Same here.

Long EU. bit of slippage...
Edit: -7.8

don't waste your time on us pairs today till 8:30 ....would be no major moves...
and gu would not go down ...weekend margin call trap...lol

open your eyes, volatility is already high.

Closed UJ for +2, was getting thinner than a razorblade -